Coles Platinum Rewards MasterCard – Rates and Fees

Information verified correct on October 27th, 2016
Coles Rewards Platinum MasterCard Find out more Go to site

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  • Once approved, you will typically receive your credit card within 1-2 weeks
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Earn more flybuys points and pay no international transaction fees with the Coles Platinum Rewards MasterCard.

Other benefits include free delivery at Coles online each time you spend on purchases worth $100 or more, no international transaction fees, additional interest-free days on purchases, Falcon fraud management system, MasterCard PayPass and more. Plus, cardholders get 2 flybuys reward points for every dollar spent. Cardholders can also earn points when shopping with flybuys partners and won’t be restricted by points caps or expiry dates. The annual fee on the card is $89. The balance transfer rate is 0% p.a. for 6 months.

Product NameColes Rewards Platinum 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 Limit100% of available credit limit
Purchase rate (p.a.)19.99% p.a.
Annual fee$89 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.
Minimum Monthly Repayment2.222% or $10 (whichever is greater)
Minimum Income$25,000
Card TypeMasterCard
Late Payment Fee$20
Foreign Currency Conversion Fee (MC)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
0% 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.
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.
Annual Fee$89 p.a.
Minimum Repayment2.222% 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$4
Overseas ATM Withdrawal Fee$4
Foreign Currency Conversion Fee (MC)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
0% of transaction value
Gambling Transactions AllowedNo
Additional Cardholder Fee$0 p.a.
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchNo


  • You can enjoy an interest-free period of 62 days.
  • This card allows you to add an additional cardholder at no extra cost.
  • This card is also covered by Falcon security system to protect your account information.


  • $20 charge applies for late payment.
Rewards Programflybuys
Rewards Points per $ (VISA/MC)2
Rewards Points per $ (AMEX)0
Rewards Points per $ (VISA/MC) CapUncapped
Rewards Points per $ (AMEX) CapN/A
Points ExpiryNever

Review of Coles Platinum Rewards MasterCard

This card can be a good companion while making day-to-day purchases. It helps in collecting reward points at a decent rate which never expire. These reward points can be easily redeemed at Coles where 2,000 flybuys points give $10 off on the purchases or it can be used to buy other goods. The card provides 62 interest-free days which are a bit more than the usual interest-free days provided on most cards. Using this feature the interest cost can be kept to a minimum. No international transaction fee also saves cost when using the card for overseas purchases. On the flip side, this card doesn’t offer complimentary travel insurance, which is useful for frequent flyers.

Benefits of the Coles Platinum Rewards MasterCard

Some of the main benefits of this card are:

  • Minimum credit limit. You can take advantage of platinum cardholder benefits, including 24/7 worldwide concierge service and Merchandise Protection Insurance when you’re approved for a credit limit of $6,000 or more.
  • No international transaction fee. For customers planning to go overseas, this card gives the benefit of no international transaction fee on purchases. Generally, this fee is around 3% of the total amount on other cards.
  • Rewards points. This card allows an earn rate of 2 flybuys points for every dollar spent. Additional points can be earned at flybuys partner.
  • Free delivery. Customers can get free delivery for purchases made at Coles online using Coles MasterCard. The purchases should be more than $100.
  • Interest-free days. This card gives 62 interest-free days on purchases which can help in keeping the interest costs to a minimum.
  • Security. The card comes with Falcon fraud management system and zero liability guarantees.
  • MasterCard PayPass. MasterCard provides a contactless paying system which eliminates the need for signature and entering PIN. The purchases through PayPass are limited to $100.

Features of the Coles Platinum Rewards MasterCard

  • Annual fee. Coles Platinum Rewards MasterCard customers will pay an annual fee of $89.
  • Interest rate. The card charges 19.99% p.a. interest rate on purchases and cash advances.
  • Balance transfer. Customers can transfer their balance to this card and get an interest rate of 0% p.a. for 6 months.
  • Additional cards. Additional cards can be issued and be linked to the account and can help collect points faster and budget household expenses in a single account.
  • Redeeming points. The points can be redeemed at Coles at the rate of 2,000 points for $10. Alternatively the points can be used to buy home appliances, electronic gadgets or travel purchases.

How to apply for Coles Platinum Rewards MasterCard

If this card meets your requirement, you can click on ‘Go To Site’ button on this page. It will securely redirect you to an online application form for this card. This form can be filled in 10 minutes and a response is generally provided within 60 seconds.

Eligibility criteria

Before applying, make sure you meet the following eligibility requirements:

  • At least 18 years of age is required
  • Be a permanent Australian resident or you must have permission to stay in Australia for at least 12 months
  • Applicant must have a good credit rating

Required documents

To quicken the application process, make sure to have the following details handy:

  • Personal information
  • Address details
  • Employment details
  • Income and expense details

Frequently asked questions

What can the flybuys points be redeemed for?

The points that are collected on this card can be used for a wide range of products including fashion, technology, lifestyle, home appliances, travel and more. Cardholders can also redeem them directly for cash at the rate of $10 for every 2,000 points at Coles.

I am a frequent flyer, but also want a card with a good rewards program. Is this card suitable for me?

You can compare other cards which offer rewards points to find an ideal card. Frequent flyers generally like to have a good travel coverage which reduces their out of pocket expense on insurance. Unfortunately, this card does not have complimentary travel insurance. You can compare other reward cards and look for cards which also give complimentary travel insurance.

Is the annual fee for life or will it be reduced after some time?

The annual fee of $89 is for life. This card does not have an option of reducing the annual fee. If you want lower cost card you can look at other no annual fee credit cards.
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60 Responses to Coles Platinum Rewards MasterCard – Rates and Fees

  1. Default Gravatar
    Theng | September 18, 2016

    Do all transactions like purchases or payments including online transactions like BPay give you 2 points for every dollar spent under the platinum Coles Rewards Mastercard? I understand that cash advances, credit fees or charges, credits, refunds, reimbursements, business purchases or balance transfers into your account do not qualify for any points.

    Thank you.

    • Staff
      Jonathan | September 20, 2016

      Hi Theng, thanks for your inquiry!

      Online transactions including BPAY will earn you 2 points for every dollar spent with the Coles Rewards MasterCard.



  2. Default Gravatar
    Viviana | July 28, 2016

    What is the difference between “Coles Platinum Rewards MasterCard” and “Coles Rewards Mastercard”

    • Staff
      May | July 28, 2016

      Hi Viviana,

      Thanks for your inquiry. Just to confirm that you’ve come through to, not actually Coles.

      Actually, there’s not much difference between the two cards in terms of fees and features. The Coles Platinum MasterCard are for those who qualify for a credit limit over $6,000. This includes additional benefits such as 24-hour concierge services and Purchase Protection – these are not among the added benefits of Coles Rewards MasterCard though.


  3. Default Gravatar
    Andrew | July 17, 2016

    I have 2 questions about the Coles Rewards Mastercard please.
    It says “Collect 2 points for every dollar you spend. Everywhere, every day”. Are there any payments/companies that are excluded from earning points? In other words, will I earn points if I use the credit card to pay electricity/phone bills, pay strata fees, pay council rates, etc?

    Last question: Is there a credit card with a longer interest-free period than 62 days?


    • Staff
      Anndy | July 18, 2016

      Hi Andrew,

      Thanks for your question.

      With Coles Platinum Rewards Mastercard , you will earn 2 flybuys reward points for every dollar spent on eligible transactions. Based on the terms and conditions of this card, eligible transactions exclude cash advances, credit fees or charges, credits, refunds, reimbursements, business purchases or balance transfers into your account.

      For your second question, our website features credit cards with up to 62 days interest-free period and I’m not aware of other credit cards that offer longer interest-free period.


  4. Default Gravatar
    DJ | July 8, 2016

    Which Coles MasterCard should I get to receive complimentary Travel Insurance?

    • Staff
      May | July 8, 2016

      Hi DJ,

      Thanks for your question.

      The complimentary travel insurance is actually not directly attached to the Coles credit cards. But Coles credit cardholders have the option to get the “Account Cover Plus” insurance policy, which is designed to give you a number of insurance cover benefits. You can find more information about Account Cover Plus on this page.

      I hope this is helpful.


  5. Default Gravatar
    Denny | July 1, 2016

    Can I use my New Zealand bank debit card to pay my Australian Coles Platinum card? If yes, what foreign exchange rates are used and are there fees applied to fx payments?

    • Staff
      May | July 22, 2016

      Hi Denny,

      Thank you for your question.

      Please note that you’ve come through to we are an Australian financial comparison website and general information service, not actually Coles.

      If you want to know if you can set up a direct debit using your NZ debit card to pay for your Coles Platinum credit card, I’d suggest that you contact Coles directly to inquire. If they allow you, then you will need to fill out a “direct debit request form.”

      As for the exchange rate, you will have to inquire your NZ bank to check how much they would charge for foreign currency conversion – rates usually vary from bank to bank.

      Also, for your convenience, I’ve sent to your email the contact details of Coles and the link to the direct debit form.

      I hope this helps.


  6. Default Gravatar
    Stan | April 12, 2016

    How do I get access to Coles 24 hour concierge service, as I am a platinum member? What services do they provide?

    • Staff
      May | April 12, 2016

      Hi Stan,

      Thanks for reaching out.

      I’ve sent to your email the number of Coles customer care, particularly those who handle queries of Coles Platinum MasterCard cardholders.


  7. Default Gravatar
    Judy | March 27, 2016

    I was talked into changing my Coles Platinum Loyalty MasterCard with no annual fee to the new Coles Platinum MasterCard with annual fees.
    Can you please advise why I didn’t get $100 off my first shop?

    • Staff
      Debbie | March 29, 2016

      Hi Judy,

      Thanks for your inquiry.

      Please note that you’ve come through, an online comparison service and not a product issuer, such as Coles.

      As per Coles, for new customers, you should spend at least $100.05 at Coles Supermarkets (excluding smoking/tobacco product purchases, Coles Group gift cards and iTunes cards), scan the flybuys barcode on the back of your new Coles Credit Card then you will be asked if you would like to use your $100 off. If these steps were followed but have not still received your $100, you may need to speak directly to a Coles customer service. They’ll be more happy to assist you with the issue.

      I hope this helps.


  8. Default Gravatar
    leo | March 2, 2016


    I have 2 questions:

    1. If I use this card at Safeway, do I still earn flybuys point?
    2. If I have a balance transfer and I use the card daily, how is the interest calculated?


    • Staff
      Jonathan | March 3, 2016

      Hi Leo, thanks for your inquiry!

      Even though Safeway is not a partner of flybuys you can still earn 2 points for every $1 spent at Safeway and everywhere else. To view the full list of partners with flybuys and earn more points refer to this page. If purchases are made on the card when a balance transfer offer is active then the purchase rate of (19.99% p.a.) will apply. Your daily card usage will be charged interest at the rate of 0.0547%.



  9. Default Gravatar
    Sheri | February 28, 2016

    Dose it have any cashout?

    • Staff
      Sally | February 29, 2016

      Hi Sheri,

      Thanks for your question.

      Just to confirm, are you asking whether you can use this card for ATM withdrawals?

      If so, you can but it’s not recommended. ATM withdrawals are considered cash advances and will incur the standard cash advance fee of 3% of the cash advance/cash equivalent transaction or $1.95, whichever is greater.

      I hope this has helped answer your question.



  10. Default Gravatar
    Sam | September 4, 2015

    My question is: “Why am I paying 21.49% interest on my card when your website advertises the current interest rate of 19.99%?”

    • Staff
      Jonathan | September 6, 2015

      Hi Sam, thanks for your inquiry!

      If your Coles credit card is still charging 21.49% p.a. on cash advances then it would be best to contact the Coles MasterCard team. I have sent the contact details to your email for your convenience.



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