Coles Source Account Cover Plus – Credit Card Insurance

Credit card insurance is a handy cover for out-of-the-blue emergencies with your card. One such product is Coles Source Account Cover Plus. Read on to find out how it works.

When most people think about credit card insurance they think about cover for when the unexpected happens. But Coles credit card insurance offers cover for far more than just losing your job or having your card stolen.

Credit Card	Card Details	Interest Rate (p.a.)	Cash Advance Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual fee	Interest free days (up to)
Coles Group Source MasterCard	A fantastic card offering great everyday value through FlyBuys points earnt on Coles group store purchases and regular savings on petrol	20.24%	21.99%	0% for 6 months	$0	62

Best Transactor Credit Card

Featuring ‘Everyday Money Credit Card Repayment Insurance’ so you will be financially covered if your situation ever changes such as unemployment, injury or sickness

• $0 for the first year ($49 per year after that) annual fee
• 19.49% p.a. on purchases
• 0% p.a. for 6 months on balance transfers
• Cash Advance Rate of 20.99%
• No medical examinations or health checks required to apply for Everyday Money Credit Card Repayment Insurance

Click here to read the Woolworths Everyday Money terms and conditions

Why Coles Credit Card Insurance Is Different

The Coles credit card insurance is called Account Cover Plus and is an optional insurance policy designed to cover account holders against a variety of things.

The insurance policies are underwritten by GE Money, which is one of Australia’s leading alternatives to major banks in finance and insurance. With a history of helping people find affordable finance and insurance solutions spanning more than 130 years world-wide, the insurer has developed a unique policy to suit credit card holders.

Benefits of Coles Credit Card Insurance

The Coles Source Account Cover Plus credit card insurance policy offers more than the usual coverage you’d expect. Of course there is provision for protecting you against financial difficulties, such as a loss of a job or an illness that might prevent you from working, which means your repayments are taken care of.

You’re also able to insure against broken, lost or stolen goods. If you’ve ever bought something from a store and got it home to find it’s broken or damaged, claiming on the manufacturer’s warranty can be time-consuming and difficult. However, if you paid for the item on your Coles credit card, then you can claim on your credit card insurance from the damaged item for up to 120 days after the purchase.

The biggest difference with Coles credit card insurance is that you’re also able to make a claim for any goods you buy that you see at a discounted price later. This means there’s no need to wait for the sales to happen.

You simply buy the items you need and if you see an identical item at a cheaper price in the same store up to 2 years after you bought yours, your credit card insurance will claim the difference in price on your policy immediately.

Affordable Credit Card Insurance Cover

Most insurance policies contain a pre-determined premium amount you have to pay in order to maintain your coverage. The Coles credit card insurance policies are very different and far more affordable.

The premium amount you pay is just 1% of the total balance you carry on your credit card each month. This means if your balance is only $300 at the end of this month, your premium amount is $3. If you’ve paid off your balance to a zero amount, then your policy premium will cost you nothing for that month, yet you’ll still be covered. No matter how much you owe at the end of the month, your premium amount will only be 1% of that total balance.

With so many benefits to the Coles credit card insurance policy, it’s worth taking a little time to see how you can protect yourself against unforeseen circumstances today,.

• Comparison of Top 10 Credit Card Offers

Editor's Choice: Our Top Credit Cards

Credit Card	Card Details	Interest Rate (p.a.)	Cash Advance Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual fee	Interest free days (up to)
HSBC Credit Card	Editor's Choice: 0% for 6 months Balance Transfer & No Annual Fee Featuring a $0 annual fee for life, and 0% p.a. balance transfer for 6 months, the HSBC Credit Card was voted the Best Transactor Credit Card for 2010.	16.99%	20.75%	0% for 6 months	$0	55
Suncorp Clear Options Standard Visa Card	A great 12 month balance transfer offer, combined with a low annual fee and a good interest rate on purchases.	12.24%	17.99%	1.9% for 12 months	$39	0