Coles No Annual Fee MasterCard Review

Information verified correct on August 29th, 2016
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The Coles No Annual Fee MasterCard lets you earn flybuys point per $1 spent, provides up to 62 days interest-free on purchases and $0 for the life of the card.

The Coles No Annual Fee MasterCard is now offering a bonus $50 *Kmart Gift Card for new customers in addition to its main offering of $0 annual fee for the life of the card. To take advantage of this offer you must apply online and use the promotion code ‘PROMO1’, be approved by 31 August 2016 and make a purchase of any amount (excluding cash advances) within the first 30 days.

The Coles No Annual Fee MasterCard also lets you earn 1 flybuys point for every $2 spent on the card which you can redeem for dollars off your next grocery shop at Coles.

Product NameColes No Annual Fee MasterCard
Rewards Programflybuys
Balance transfer rate (p.a.)0% p.a. for 6 months
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Purchase Rate (19.99% p.a.)
Balance Transfer Limit95% of available credit limit
Purchase rate (p.a.)19.99% p.a.
Offer end date31 August 2016
Annual fee$0 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 62 days on purchases
Cash advance rate (p.a.)19.99% p.a.
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$500
Minimum Monthly Repayment2.22% or $10 (whichever is greater)
Minimum Income$25,000
Card TypeMasterCard
Late Payment Fee$20
Foreign Currency Conversion Fee (MC)2.5% of transaction value
Complimentary Travel InsuranceNo
Available To Temporary ResidentsNo
Joint ApplicationNo
Minimum Income$25,000
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
Min Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$500
Annual Fee$0 p.a.
Minimum Repayment2.22% or $10 (whichever is greater)
Late Payment Fee$20
Cash Advance Fee3% of the cash advance/cash equivalent transaction or $1.95 - whichever is greater
Overseas Cash Advance Fee$2.50
Overseas ATM Withdrawal Fee$4
Foreign Currency Conversion Fee (MC)2.5% of transaction value
Gambling Transactions AllowedNo
Additional Cardholder Fee$0 p.a.
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchNo
MailYes
Pros
  • 0% p.a. for 6 months on balance transfers
  • $0 annual fee on the life of the card
  • Get up to 62 interest-free days.
  • Earn 0.5 flybuys point per dollar spent.
Cons
  • A fee of $20 for late payment will be charged.
  • 0.5 per dollar spend earning rate is bit low than the other cards in the market.
  • Your cash advances are subject to a 3% fee of the cash advance amount.
Rewards Programflybuys
Rewards Points per $ (VISA/MC)0.5
Rewards Points per $ (AMEX)0
Rewards Points per $ (VISA/MC) CapUncapped
Rewards Points per $ (AMEX) CapN/A
Points ExpiryNever

Coles No Annual Fee MasterCard review

The No Annual Fee MasterCard combines the features of a flybuys loyalty card and a MasterCard credit card. It costs nothing to own and allows you to earn 1 flybuys point for every $2 spent.

The following Coles No Annual Fee MasterCard review will explain how to use the card to earn flybuys points and outline the important conditions of the product.

Benefits of the Coles No Annual Fee MasterCard

  • $50 *Kmart Gift Card. New cardholders can enjoy a bonus $50 *Kmart Gift Card which is redeemable at Kmart stores and Kmart Tyre & Auto. To receive this offer, you’ll need to submit the secure online application before 31 August 2016 use the promotion code ‘PROMO1’ and make an eligible purchase (excluding cash advances) within 30 days of card approval.
    The $50 Kmart Gift Card will be sent to your address 4 weeks after the first purchase is made on your Coles No Annual Fee MasterCard. This gift card is non-transferrable and will be valid for two years from the date of issue.
  • No annual fee. As the name suggests there is no annual fee on this credit card.
  • Earn flybuys points whenever you spend. 1 flybuys point for every $2 spent. The Coles No Annual Fee MasterCard rewards you with flybuys points when you make an eligible purchase on the card. If you’re not already a member of the flybuys program, you will be automatically enrolled when you apply for the Coles No Annual Fee MasterCard. If you earn or redeem points at least once every 12 months, your flybuys points do not expire.
  • Enjoy $10 off at Coles Supermarkets. Enjoy $10 off at any Coles Supermarket after redeeming 2,000 flybuys points. Eligible purchases exclude smoking/tobacco related product purchases, Coles Group gift cards and iTunes cards.
  • Interest-free days. Earn up to 62 days interest-free on purchases when you pay the full balance off each month. Interest-free days do not apply if you’re carrying a balance from month to month, like when transferring a balance to a credit card under a balance transfer promotion. Up to 62 days interest-free gives you an extra month interest-free if you need a little extra time to pay back a couple of one-off, large purchases.
  • Free delivery when you order from Coles Online. Receive free delivery on your orders from Coles online when you spend $100 or more with your Coles MasterCard from the online store. Offer can be withdrawn at any time. Offer excludes tobacco and tobacco related purchases and remote delivery orders.
  • Earn more flybuys points. Keep this card in your wallet, use it as your flybuys card when you shop, and pay the account in full when it’s due.
  • Apply for a balance transfer. You can apply for balance transfer upon request once your account is set up (your card must also be linked to your online account). Once your card is linked to your online account a request can either be made through the Coles MasterCard Customer Care team or by filling in a balance transfer request via the Balance Transfer PDF available on the Coles MasterCard website. The balance transfer promotional rate is subject to the current offer available at the time and can take up to 15 working days to be processed.

Coles No Annual Fee MasterCard features

  • Free delivery on Coles online. Free delivery when you order from Coles online and spend over $100 with your Coles MasterCard. Offer can be withdrawn at any time. Offer excludes tobacco and tobacco related purchases and remote delivery orders.
  • No annual fee. The Coles No Annual Fee MasterCard has a $0 annual fee.
  • Earn flybuys points. Earn 1 flybuys point for every $2 worth of eligible purchase you make on the card.
  • Interest-free days. Up to 62 days interest-free on purchases made with the Coles No Annual Fee MasterCard.
  • Additional cardholders. Additional cards can be issued to applicants over the age of 16 for $0 each. Earn flybuys points faster by adding an additional cardholder to your account.
  • Card fraud protection. MasterCard Zero Liability Guarantee gives you a money back guarantee if you’re the victim of card fraud.
  • Paypass payment technology. MasterCard Paypass enabled. Tap your card against the contactless terminal for purchases under $100.
  • Online account management and Coles Mobile Wallet.Card holders can manage your account and pay bills through the mobile app or online. This creates an easy way to manage your finances, check balances and view all your account information securely.

How to apply for the Coles No Annual Fee MasterCard

The online application only takes ten to fifteen minutes to complete. You should have a response within a few minutes of completing your application. Coles MasterCard will send you an email letting you know whether your application has been approved, conditionally approved or declined.

Enter promo code “PROMO1” on the first page of the application to receive the $50 *Kmart Gift Card offer.

  1. When you are ready to apply for this credit card offer, press the ‘Go to Site’ button where you will be redirected to the secure application form
  2. Enter “PROMO1” in the Promotion Code field to apply the offer
  3. Complete the details of the application and submit for approval

image01

Application criteria

  • Applicant is 18 years or older
  • Earn more than $25,000
  • Be a permanent Australian resident or you must have permission to stay in Australia for at least 12 months

Required documents

  • Details of your income and employment
  • Personal identification i.e. Australian driver’s license.

Feel free to ask a question below if you would like to know more about the Coles No Annual Fee MasterCard.

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644 Responses to Coles No Annual Fee MasterCard Review

  1. Default Gravatar
    Samira | August 25, 2016

    I have applied online for No Annual fee Credit Card, it was @ 15 days ago and until now I’ve not received any answer from you
    Please, I need to know whether it was approved or not
    Your prompt reply will be deeply appreciated

    • Staff
      May | August 28, 2016

      Hi Samira,

      Thank you for your question. Just to confirm though that you’ve come through to finder.com.au — we are an Australian financial comparison website and general information service, not actually Coles.

      On the average, most banks or credit card companies process applications within 1-2 weeks. If you wish to get the status of your application, I suggest that you contact Coles directly on the contact details that are listed on this page. Also, on the same page, you can find our tips on how you can check your credit card application.

      Hope this has helped.

      Cheers,
      May

  2. Default Gravatar
    | August 19, 2016

    How long before we know if the application for Coles No Annual Fee Mastercard is successful or not?

    • Staff
      Anndy | August 22, 2016

      Hi Patrick,

      Thanks for your question.

      If you applied for Coles No Annual Fee MasterCard online, according to Coles website, you should be able to get a response in about 60 seconds after you have submitted your application.

      Coles MasterCard will send you an email letting you know whether your application has been approved, conditionally approved or declined. Once your application has been received, it should only take five to ten days before you have your card.

      Cheers,
      Anndy

  3. Default Gravatar
    kat | August 13, 2016

    Hi there
    I have a debt of $6,000.- on a different credit card. I would like to apply and use the Coles mastercard with the no annual annual fee to pay off my debt as your coles credit card offer 0% annual fee and 0% fee on transfer transfer. Have chosen the right credit card?
    Many thanks

    • Staff
      May | August 13, 2016

      Hi Kat,

      Thank you for your inquiry.

      When choosing the right balance credit card, it’s always important to consider how this tie into your financial situation. Unfortunately, as finder.com.au is a comparison website, we may not be able to provide a personal advice.

      Nevertheless, if you find that this Coles No Annual Fee MasterCard suits best to your financial circumstance, you can review the criteria and requirements then click on the ‘Go to site’ button above to head over to the Coles’ website and apply.

      Aside from Coles, if you haven’t yet, you may also like to check this page to compare other no annual fee and 0% interest balance transfer fee credit cards.

      I hope this helps.

      Cheers,
      May

  4. Default Gravatar
    Lina | August 10, 2016

    Hi,

    can you confirm that this card ‘Coles No Annual Fee MasterCard’ has 0% rate on balance transfers for 6 months? Is this a special offer or valid at all times?

    Thanks,
    Lina

    • Staff
      Anndy | August 11, 2016

      Hi Lina,

      Thanks for your question.

      Yes, the Coles No Annual Fee MasterCard has balance transfer rate of 0% p.a. for the first 6 months and reverts to 19.99% p.a. thereafter. It is not a special offer but it may also change in the future.

      Cheers,
      Anndy

  5. Default Gravatar
    Neil | July 27, 2016

    I did everything as written above and i have been approved and i have made a purchase as well. I want to know when will i receive 20000 flybuy points?

    • Staff
      May | July 28, 2016

      Hi Neil,

      Thanks for your inquiry.

      For the Coles No Annual Fee, your 20,000 bonus points will be credited to your flybuys account linked to your credit card within 4 weeks of that first purchase.

      Cheers,
      May

  6. Default Gravatar
    Owen | July 27, 2016

    What is the 25$ special promotion fee?

    • Staff
      May | July 28, 2016

      Hi Owen,

      Thanks for your comment.

      I can’t seem to find that $25 special promotion fee you mentioned. If you could please provide more details where you found it and for what card, we’d be happy to assist you. – Thanks. :)

      As for this Coles No Annual Fee MasterCard Exclusive Offer, you will receive the bonus points when you apply for this card directly on finder.com.au website by clicking the ‘Go to site’ button above. There is no fee when you apply.

      Cheers,
      May

  7. Default Gravatar
    Edward | July 26, 2016

    Would I be able to get this offer in about a month time , I am away at the moment

    • Staff
      May | July 26, 2016

      Hi Edward,

      Thanks for your inquiry.

      Unfortunately, this exclusive offer for Coles No Annual Fee MasterCard will end on 31 July 2016, so I’m afraid that this offer will no longer be available one month from now.

      Thanks,

      May

  8. Default Gravatar
    Kumar | July 21, 2016

    Hi,

    My wife wants to apply for this Card. She earns more than $25K which is required for this Card and she’s an Australian Citizen. However, her work is temporary and casual in nature and hence she cannot provide regular pay slips as an income proof.
    Would she be eligible for the card in that case?
    Also, is it possible that I provide some personal guarantee based on my personal income (which is adequate again), for my wife in lieu of my wife providing any income proof?

    • Staff
      May | July 21, 2016

      Hi Kumar,

      Thanks for your inquiry. Just to confirm that you’ve come through to finder.com.au we are an Australian financial comparison website and general information service, not actually Coles.

      One of the requirements for this Coles No Annual Fee MasterCard Exclusive Offer is that you’ll need to provide details of your income and employment. So if your wife will be applying, she has to supply those documents mentioned along with other requirements outlined above.

      If you want to discuss her chances of approval, you’d be best to contact Coles directly.

      Cheers,
      May

  9. Default Gravatar
    James | July 20, 2016

    I’ve never had a credit card before, is this one good to start with?

    • Staff
      Anndy | July 20, 2016

      Hi James,

      That’s a good question.

      We can’t tell for sure if this card is good for you or not as a first-time cardholder. The best option for a credit card depends entirely on your financial situation, spending habits and personal preferences.

      We have a guide for first-time credit card holder that may help you find a suitable card.

      Cheers,
      Anndy

  10. Default Gravatar
    Matt | July 15, 2016

    How long does it take to get the Flybuys points once you have been accepted and made a payment?

    • Staff
      May | July 15, 2016

      Hi Matt,

      Thanks for your question.

      Just to confirm that finder.com.au is a comparison website and general information service and we are not representing flybuys.

      Once you have used your flybuys card or quoted your flybuys number for a transaction at a participating merchant/company (“Participant”), your points will be credited to your account after flybuys have been notified by that “Participant” that you or your additional members have earned points on a qualifying transaction.

      For any delay or failure of a “Participant” to notify flybuys of the details of such transactions, you should contact the “Participant” if you dispute the points awarded for a qualifying transaction.

      I hope this helps.

      Cheers,
      May

Credit Cards Comparison

Rates last updated August 29th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
9.99% p.a. $0 p.a. Go to site More info
Citi Qantas Signature Credit Card
Earn up to 70,000 bonus Qantas Points on eligible spend, plus enjoy a 0% p.a. for 6 months offer on balance transfers.
20.99% p.a. 0% p.a. for 6 months $99 p.a. annual fee for the first year ($395 p.a. thereafter) Go to site More info
American Express Essential Credit Card
Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card. Also enjoy a 0% p.a. balance transfer rate for 12 months.
14.99% p.a. 0% p.a. for 12 months with 1% balance transfer fee $0 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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