Coles Platinum No Annual Fee MasterCard

Posted June 5th, 2013 and last modified June 2nd, 2014
Coles No Annual Fee Platinum MasterCard Find out more Apply now
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Earn Flybuys Rewards at Coles with their latest offering to consumers.

This card is available if your approved credit limit after applying for the Coles No Annual Fee MasterCard is higher than $6,000

Also get Free delivery when you spend $100 or more at Coles Online until 31st December, 2014

Product NameColes No Annual Fee Platinum MasterCard
Balance Transfer Rate0% p.a. for 6 months
Interest Rate on Purchases17.99% p.a.
Annual Fee$0 p.a.
Interest Free Period on Purchasesup to 62 days
Interest Rate on Cash Advances17.99% p.a.
Minimum 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.
$6,000
Card TypeVisa
Late Payment Fee$25
Foreign Currency Conversion Fee (MC)2.5% of transaction value
Complimentary Travel InsuranceNo
Available to Temporary ResidentsNo
Joint ApplicationNo

The Coles Platinum No Annual Fee MasterCard offers customers an excellent way to earn more flybuys points without the expense of paying an annual fee. Add to this the generous allocation of interest-free days and it becomes very possible to be rewarded for using a truly no fee credit card. You can earn flybuys points and if you manage your account the right way, you won’t pay any interest on your purchases and it’s all yours at a $0 annual fee.

Features of the Coles Platinum No Annual Fee MasterCard

Annual Card Fee: 0% p.a. annual fee. You’ll never be charged an annual fee for this account.

Rewards: You have the ability to earn 0.50 flybuys point with every $1 you spend on eligible purchases using your card. The flybuys program has recently been upgraded and overhauled to include far more rewards than ever, so you can redeem your points for shopping discounts or vouchers or plenty of other great items.

Streamline Rewards Points: Whenever you use your Coles Platinum No Annual Fee MasterCard you’ll be earning points, so there’s no need to also swipe your flybuys card. Your accounts are linked in the one handy card.

Discounts: As your flybuys balance accumulates, you’ll be able to instantly redeem these for $10 discounts off your next Coles and Coles Express shopping bill directly at the register.

Interest Free Days: You can take advantage of as many as 62 days where no interest will be charged on valid purchases you make using your card. This only applies if you repay the amounts you spend in full before the due date shown on your statement.

PayPass Contactless Payment: If you make purchases below $100, you can take advantage of the contactless Tap & Go payment system.

Platinum Benefits

Being a Platinum credit cardholder entitles you to a range of perks and benefits, as befitting a premium cardholder. These include:

Personal Concierge Service

You can call your personal concierge at any time of the night or day to help you arrange the things you need. Ask your concierge to book a restaurant for you and book a taxi for you to get there. Your concierge will also happily help you arrange parties, functions, travel plans and pretty much anything else you need.

Merchandise Protection Insurance

If you pay for items using your Platinum card, they’re protected against accidental loss or damage for up to 90 days.

Increased Credit Limit

Platinum cardholders can benefit from the higher credit limits available. You will need to have a credit limit higher than $6,000 to be eligible for this particular account.

Earning More Flybuys Points

One of the big benefits of having your MasterCard and Flybuys account linked into the same card is that you have the ability to earn extra points. You will earn the standard 0.50 point for every $1 you spend on your card if you shop anywhere at all.

However, if you shop at Coles Supermarkets and you pay for your purchases using your card, you’ll also earn 1.5 points through your regular Flybuys account and the additional 0.50 points for using your MasterCard.

All this is done automatically at the register, simply for owning a Coles Platinum No Annual Fee MasterCard.

Coles-Rewards-Flybuys-Table

Taking Advantage of a No Annual Fee Credit Card

This credit card account is best suited to those customers who are diligent about repaying their balances in full each month. If you’re this type of person, you can take advantage of never paying an annual fee on your account, plus you can benefit from up to 62 days where no interest is charged on the purchases you make.

This allows you to pay for your bills and living expenses at the beginning of the statement cycle and then take a few weeks to pay off the amounts you spend. Aside from never paying any fees or interest charges, you have the added bonus of being rewarded with flybuys points for your spending habits.

Keep in mind that withdrawing cash from your MasterCard will incur cash advance fees of $3 of the transaction total. You will also be charged interest at 17.99% p.a. from the date the transaction occurred.

If you’re serious about maintaining a totally free credit card, it’s a good idea to avoid withdrawing cash from your credit card account at all. You may also want to be wary of any transactions that may be considered cash transactions, such as transferring money from your credit card over to your regular banking account, as these will be considered cash transactions as well.

Fees and Charges

The fees and charges that apply to this account are as listed below:

Fees You Can Avoid

While you already have the advantage of never being charged an annual fee on your Coles Platinum No Annual Fee credit card, there are some other fees and charges that may apply. Fortunately, you can avoid paying some of them if you manage your account the right way. These include:

Interest Rate: as long as you only use your credit card to pay for valid purchases and you always repay your balance in full every month, you won’t pay any interest on your account.

Cash Advance Fee: you can avoid ever paying this fee if you remember not to withdraw cash from your card at ATMs. This also applies to asking for cash-out after paying for an EFTPOS transaction.

Paper Statement Fee: if you elect to receive your statements electronically instead of being sent to you in the mail, you won’t have to pay this fee.

International Fees: paying for purchases with your credit card while you’re overseas can be very convenient, but you will pay international transaction fees on purchases and cash withdrawals you make with your card. You can avoid this by arranging alternate payment options before you leave on your trip.

Late Fee: You won’t ever pay the late fee of $25 if you remember to pay your credit card bill on or before the due date. Remember, BPAY payments can sometimes take up to 2 business days to clear, so if you intend to pay your bill using BPAY try to make the payment a few days before it’s actually due to avoid this fee.

Applying for the Coles No Annual Fee MasterCard

If this card sounds ideal for your own spending needs, you can apply using the secure online application form. You simply enter your details into the form provided. The form is completely secure, so your personal and confidential information won’t be compromised at any time.

When you’re done, submit your application and you will get a response within 60 seconds. It really is that easy.

Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating RequirementGood
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.
$6,000
Annual Fee$0 p.a.
Late Payment Fee$25
Cash Advance Fee3% of the cash advance/cash equivalent transaction or $1.95 - whichever is greater
Overseas ATM Withdrawal$4
Foreign Currency Conversion Fee (MC)2.5% of transaction value
Gambling Transactions AllowedNo
Additional Cardholder Fee$0
Number of Additional Cardholders8
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6 Responses to Coles Platinum No Annual Fee MasterCard

  1. Default Gravatar
    Josh | April 24, 2014

    Hi,

    Do the points on this card have an expiry limit?

    Cheers,
    Josh

    • Staff
      Shirley | April 24, 2014

      Hi Josh,

      Thanks for your comment.

      The points don’t expire on the Coles no annual fee Mastercard.

      Cheers,
      Shirley

  2. Default Gravatar
    Lulu | December 9, 2013

    Does anyone know how long does it take for flybuy points earned by using coles master card be transferred to your flybuys account? The website says daily but I made purchases on the 6 December however the flybuys points haven’t been transferred to my flybuys account today, the 8 December. Have I missed something? Thank you for your reply in advance.

    • Staff
      Jacob | December 9, 2013

      Hi Lulu.

      The 6th of December was a Friday. It could be the flybuys points are not processed over the weekend.

      Thanks for your question.

  3. Default Gravatar
    tony | August 18, 2013

    Can I keep my points with my existing MasterCard?

    • Staff
      Jacob | August 19, 2013

      Hi Tony.

      What credit card do you have?

      If you’re a member of a rewards program, like the Commonwealth Bank Awards Program, you will have three months to use your points after you close the credit card account before they expire. This card rewards you with flybuys points when you make an eligible purchase on the card. These points will be credited to your flybuys rewards account, which can be managed online.

      Thanks for your question.

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