Coles Rewards MasterCard Review

Rates and Fees verified correct on July 29th, 2015
Coles Rewards Mastercard Find out more Go to site

Don't worry, by clicking "Go to site" this won't leave a mark on your credit file. An enquiry will only appear on your file once you have submitted a credit card application.

What happens when I click Go to site?
  • Clicking Go to site will take you to your Online Application on the bank's website. You do not need to be an existing customer of this bank to apply.
  • Your application will typically take you no more than 10-15 minutes to complete
  • Once approved, you will typically receive your credit card within 1-2 weeks
Click here to start your application >>

Earn flybuys points when you use this card, don’t pay any international transaction fees on purchases, and get free delivery when you shop at Coles online.

Earn flybuys points quicker with 2.00 points for every $1 you spend on the Coles Rewards MasterCard. This is in addition to bonus flybuys points that are earned with flybuys partners. This card also features a low annual fee of $89 p.a. and now offers no foreign transaction fees for online purchases and overseas trips.

Coles also offer a Platinum MasterCard for those who qualify for a credit line over $6,000. This includes additional benefits such as 24 hour concierge services and merchandise insurance.

Product NameColes Rewards Mastercard
Rewards Programflybuys
Balance Transfer Rate0% p.a. for 6 months
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Purchase Rate (19.99% p.a.)
Interest Rate on Purchases19.99% p.a.
Annual Fee$89 p.a.
Interest-Free Period
on Purchases
The interest-free period on purchases is the period or number of days you don't 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
Interest Rate on Cash Advances19.99% 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.
$500
Minimum Monthly Repayment2.22%
Minimum Income$15,000 p.a.
Card TypeMasterCard
Late Payment Fee$20
Foreign Currency Conversion Fee (MC)0% of transaction value
Complimentary Travel InsuranceNo
Available to Temporary ResidentsNo
Joint ApplicationNo
Minimum Income$15,000
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.
$500
Annual Fee$89 p.a.
Minimum Repayment2.22%
Late Payment Fee$20
Cash Advance Fee3% of the cash advance/cash equivalent transaction or $1.95, whichever is greater
Overseas ATM Withdrawal Fee$4
Foreign Currency Conversion Fee (MC)0% of transaction value
Gambling Transactions AllowedNo
Additional Cardholder Fee$0
Number of Additional Cardholders8
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchNo
MailYes
Pros
  • A low 19.99% p.a. interest rate on purchases
  • You can enjoy an interest-free period of 62 days
  • Allows up to 8 additional card holders at no extra charge
  • Covered by Falcon security system to protect your account information
Cons
  • Applies a $20 charge 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 Expiry36 months

Coles Rewards MasterCard Review

The Coles Rewards MasterCard is an excellent choice if you shop at a Coles Supermarket or at any flybuys partners. The ability to accumulate 2.00 points for every $1 spent can offset the $89 p.a. annual fee if the card is used regularly. Points add up quickly and you can receive $10 off a Coles Supermarket purchase when you redeem 2,000 points, saving you money. The card, with no foreign transaction fees, could also be of value to regular globetrotters too! The Coles MasterCard also offers up to 62 days interest-free on purchases as long as the balances are paid off each month by the due date.

Benefits of the Coles Rewards MasterCard

The Coles Rewards MasterCard comes with its share of benefits, and here’s what you can look forward to as a cardholder:

  • No international transaction fees. When you use a typical Australian credit card to make purchases when travelling overseas or to shop at international websites, you would have to pay international transaction fees for every such transaction. With the Coles Rewards MasterCard, you don’t have to worry about paying this fee when you use your card for any international purchase.
  • Rewards program. The flybuys loyalty program is amongst Australia’s most popular, and it gives you different options when it comes to redeeming your accumulated points. The program offers  2.00  per $1 spent and allows cardholders to get $10 off at Coles when using 2,000 flybuys points. Cardholders can redeem points for a range of merchandise spread across categories like home and garden, fashion, technology, travel, and lifestyle. However, the points will expire if you don’t use them within 12 months, so get spending!
  • Card security. Falcon fraud management system monitors account activity and keeps an eye out for suspicious transactions. MasterCard’s zero liability policy works in providing that added peace of mind.
  • Balance transfer. A balance transfer can be requested at anytime from once your account is set up (your card must be linked to your online account). Once your card is linked to your online account a request can either be made through the Coles 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.

Features of the Coles Rewards MasterCard

  • No foreign transaction fees - Enjoy the benefits of paying no international transaction fees on purchases made online and overseas.
  • Annual fee is $89 p.a. per year - The Coles Rewards MasterCard annual fee is charged on the date of your first purchase and on every year afterwards
  • Security & fraud protection - Every Coles MasterCard includes fraud protection with the Falcon fraud management system and Coles zero liability guarantee. This benefit provides card holders with peace of mind knowing you are covered if unauthorised purchases are made on the card
  • MasterCard PayPass - For all Coles MasterCards, any single purchase amounts under $100 dollars simply tap and go. For purchase amounts over $100 key in your PIN number. This provides faster checkouts and a greater level of convenience when making small purchases
  • Free Delivery on Coles online - Applies to any single purchase from Coles online when you spend $100 or more with your Coles Rewards MasterCard. Saving both time and money with the convenience of shopping online. The offer can be withdrawn at any time and excludes tobacco and tobacco related purchases and remote delivery orders
  • Interest rate on purchases - 19.99% p.a. interest rate for both purchases and cash advances, providing card holders with access to the credit line without the high cash advance interest rates
  • Up to 62 interest free days - Coles Rewards MasterCard offers free interest up to 62 days as long as the balance is paid in full each statement cycle. This enables card holders to use the card and earn valuable points without paying any interest on purchases
  • Online account management and Coles Mobile Wallet - Card holders can manage their account, pay bills and collect flybuys points through the mobile app or online. This creates an easy way to manage your finances, check balances and view all your account information securely

Back to top

How to apply for the Coles Rewards MasterCard

Applying for the Coles Rewards MasterCard is easy, and to submit an online application, start by clicking on the ‘Go to Site’ button. Before you do, makes sure you meet the following eligibility criteria:

  • You’re at least 18 years old
  • You’re a permanent Australian resident
  • You don’t have poor credit rating
  • Must have after tax income of at least $15,000 p.a.

Successfully completing the application requires that you provide the following information:

  • Your complete name, date of birth, relationship status, and number of dependents
  • Your email address, phone number, residential address, and residential status
  • Your employer’s name, address, and phone number
  • Details of your income from all sources
  • Details about your expenses, which include all outstanding debts

Anyone who frequently shops at Coles can benefit by getting the Coles Rewards MasterCard, but you should establish at the onset if you’ll make more through rewards than the $89 you end up paying in annual fees. Being able to redeem your flybuys points when you shop at Coles is a definite plus, as is the fact that you can get free delivery through Coles online. What also helps is that you can get up to 62 interest free-days on purchases. Bear in mind, though, that this is not the only Coles credit card, so compare your options well before you apply.

Back to top

Frequently asked questions

How quickly do flybuys points get to my account?

When you shop through Coles’ major retail partners, your flybuys points should get to your account within a day or two. In other instances, the process can take around a week.

If I don’t want to redeem my flybuys points at Coles, what do I have to do?

You can also redeem you flybuys points as cash at Coles Express, Target, Kmart, Kmart Tyre & Auto Service, Liquorland, and First Choice Liquor. Otherwise, you’ll have to log into your account using the flybuys website, and you then get to choose from an array of merchandise.

Can I get an additional card?

Yes, you can get an additional card for anyone over 16 years of age, and you remain liable for all purchases made using this card.

Do I have to pay international transaction fees for cash advances?

Yes, international cash advances attract a 2.5% fee.

Was this content helpful to you? No  Yes

This page was last modified on 23 July 2015 at 22:27.

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

210 Responses to Coles Rewards MasterCard Review

  1. Default Gravatar
    Kate | July 27, 2015

    I want to get a Coles mastercard as I am a team member and can waive the annual fee however, I also have a promotional code for the $100. How can I use both promotions when I apply for the credit card? Or, should I just give them a call to sort it out over the phone?

    • Staff
      Jonathan | July 28, 2015

      Hi Kate,

      Thanks for your inquiry.

      Unfortunately the promotional offer of $100 has expired however you can still apply for the Coles MasterCard and waive the annual fee as long as you remain employed with Coles.

      I hope this helps.

      Cheers,

      Jonathan

      Cheers,

  2. Default Gravatar
    Sam | July 24, 2015

    A couple of questions. I am interested in applying for a Coles Mastercard – Is the $100 promotional offer still available? Secondly does the mastercard accumulate 2 flybuys points for every dollar spent on the card irrespective of what is purchased on the card. Hypothetically if I use the card to purchase something from say Foodland will I still accumulate flybuy points for making the purchase since I used the Coles mastercard?

    • Staff
      Jonathan | July 27, 2015

      Hi Sam, thanks for your inquiry!

      Unfortunately the $100 promotional offer has ended. The Coles Rewards MasterCard will accumulate 2 flybuys points for every dollar spent providing the transaction is an eligible purchase, excluding cash advances, credit fees or charges, credits, refunds, reimbursements, business purchases or balance transfers into your account.

      Cheers,

      Jonathan

  3. Default Gravatar
    rachel | July 5, 2015

    I already received coles mastercard with Promo1 approved in June linking with my flybuys card.
    However I did not receive SMS regarding $100 promotion yet. How can I confirm that the promotion is active now? I do not want to try shop over $100.05 before I confirm it is valid.

    • Staff
      Sally | July 6, 2015

      Hi Rachel,

      Thanks for your question.

      The $100 should have been directly debited to your flybuys account. You may wish to log onto your flybuys account to see if the points have been debited in your account.

      Just so you know, the $100 off can only be used once and expires on 30th October 2015.

      If the points haven’t appeared on your account, I would suggest that you contact Coles MasterCard directly to resolve the issue.

      I hope this has helped.

      Thanks,

      Sally

  4. Default Gravatar
    Emy | June 27, 2015

    I applied for the Coles MasterCard and was approved 13th June. Yesterday 26th June I received txt message that my $100 offer is now available to redeem at Coles. Until when can I redeem that $100 offer or when is that offer due by?

    • Staff
      Sally | June 29, 2015

      Hi Emy,

      Thanks for your question.

      The $100 should have been directly debited to your flybuys account. As noted on the Coles Financial Service website, new customers who were approved from the 1st June 2015 to 30th June 2015 will receive $100 off a single Coles Supermarket shop. The $100 off can only be used once and expires on 30th October 2015.

      I hope this has answered your question.

      Thanks,

      Sally

  5. Default Gravatar
    Mary | June 25, 2015

    Hi there,

    I applied for the Coles MasterCard on 30th May. I received my Coles MasterCard letter on 2nd June, however I haven’t received my $100 bonus yet. I called the customer service and the person who I talked mentioned that I’ll surely receive it but it’s been too long, My friend applied the very same day as me, got the his sms confirming the $100 bonus, long ago. Do you know how long it supposed to take to receive the bonus $100?

    • Staff
      Jonathan | June 25, 2015

      Hi Mary, thanks for your inquiry!

      As per the terms and conditions “The Offer will be activated on your flybuys account and available for use within 3 weeks of your card approval date. This Offer will only be activated on the flybuys card quoted in the application process. To redeem the Offer you must scan your flybuys card for a minimum spend of $100.05 after savings and discounts in one transaction at Coles Supermarkets and Bi-Lo (excluding smoking/tobacco product purchases, Coles Group gift cards and iTunes cards).”

      I hope this helps,

      Jonathan

  6. Default Gravatar
    Sarah | June 20, 2015

    So I got an SMS on 10th Jun telling me the $100 offer is now available to redeem at Coles. Today I went and did my shopping and wasn’t given the $100 which was the whole reason I went into the store to do a big shop instead of online. Why wasn’t I given it?

    • Staff
      Jonathan | June 22, 2015

      Hi Sarah, thanks for your inquiry!

      Please note that finder.com.au is a comparison service and is not directly operating with Coles and the $100 offer. It would be best to contact Coles MasterCard to ensure your $100 offer has been awarded correctly to the nominated flybuys card, please refer to the contact details I have sent to your email.

      Cheers,

      Jonathan

  7. Default Gravatar
    Angel | June 13, 2015

    Can you get the $100 off reward if you sign up to the one with no annual fee?

    • Staff
      Jonathan | June 15, 2015

      Hi Angel, thanks for your inquiry!

      The $100 reward offer can be redeemed by entering the promotion code ‘Promo1′ when you apply for this credit card. You may like to view the updated offers for Coles credit cards on this page.

      Cheers,

      Jonathan

  8. Default Gravatar
    Chantal | June 10, 2015

    Hi just wondering, with the $100.05 spend (after savings and discounts) is that on top of the $100 free shop? Thanks

    • Staff
      Jonathan | June 11, 2015

      Hi Chantal, thanks for your inquiry!

      To redeem the $100 free shop a minimum spend of $100.05 is required.

      Cheers,

      Jonathan

  9. Default Gravatar
    Eshu | June 10, 2015

    Your 100 offer is now available to redeem at Coles. Don’t forget to scan the flybuys barcode at the back of your Coles MasterCard to redeem the offer!

    I received the above message from Coles. How do I use the $100?

    • Staff
      Jonathan | June 10, 2015

      Hi Eshu, thanks for your inquiry!

      As per the terms and conditions “To redeem the Offer you must scan your flybuys card for a minimum spend of $100.05 after savings and discounts in one transaction at Coles Supermarkets and Bi-Lo (excluding smoking/tobacco product purchases, Coles Group gift cards and iTunes cards).”

      Cheers,

      Jonathan

    • Default Gravatar
      Eshu | June 10, 2015

      So, after spending $100.05 I should scan my fly its card and I will get $100 off. correct?

    • Staff
      Jonathan | June 11, 2015

      Hi Eshu, thanks for your response!

      That is correct, scanning your card to pay for the transaction of a minimum spend of $100.05 will redeem this offer.

      Cheers,

      Jonathan

  10. Default Gravatar
    Heather | June 10, 2015

    Dear Coles Mastercard,
    I cannot understand why you would reject me for a Coles MasterCard.
    I am a married woman, who works full time earning a good wage (over $Xk a year), shares a small mortgage on my house with my husband, have one small credit card that I pay off every month (and I was going to cancel this credit card once I got the new Coles one) and have a perfect credit rating.
    When I rang the call centre to ask why I had been rejected, the only information they could give me was you don’t suit our requirements at the moment and that I could re-apply. I tried again just in case I made an error in my payments etc.
    So if I don’t suit your criteria who does?
    Very upsetting and frustrating.

    • Staff
      Jonathan | June 11, 2015

      Hi Heather, thanks for your inquiry!

      Please note that since finder.com.au is a comparison service we are not directly involved in Coles MasterCard’s application process or criteria. In the process of being approved for a card, checking your credit status and credit file can be ideal as it contains all the information lenders need to assess your ability to repay credit. You may also like to refer to the following link for a list of Rewards credit cards and offers.

      I hope this has helped,

      Jonathan

Credit Cards Comparison

Rates last updated July 29th, 2015
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Cash advance rate (p.a.)
St.George Vertigo Platinum
A platinum card with a low interest rate on balance transfers and purchases with a low annual fee.
0% p.a. for 3 months (reverts to 12.74% p.a.) 0% p.a. for 20 months $99 p.a. 21.49% p.a. Go to site More info
NAB Low Rate Credit Card
Low ongoing interest rate on purchases and balance transfers.
0% p.a. for 12 months (reverts to 13.99% p.a.) 4.99% p.a. for 6 months $59 p.a. 21.74% p.a. Go to site More info
Westpac Low Rate Card
A low interest rate credit card with a low annual fee and balance transfer offer.
0% p.a. for 3 months (reverts to 13.49% p.a.) 0% p.a. for 18 months $59 p.a. 21.49% p.a. Go to site More info
American Express Velocity Escape Card
Enjoy 7,500 bonus Velocity Points when you spend $300 within the first 3 months and up to 2.00 points for every dollar you spend, together with a $0 annual fee. Offer ends on 30 September 2015.
20.74% p.a. 0.99% p.a. for 6 months with 1% balance transfer fee $0 p.a. Go to site More info
HSBC Platinum Credit Card
Earn rewards points plus a balance transfer offer. Access to prestige services including a personal concierge service and VISA Platinum reward program.
19.99% p.a. 0% p.a. for 8 months $0 p.a. 21.99% 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.

Ask a question
feedback