Coles Rewards MasterCard – Rates & Fees

Information verified correct on February 12th, 2016
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Earn flybuys points, 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 points for every $1 you spend on the Coles Rewards MasterCard. This is in addition to flybuys points that are earned with flybuys partners. This card also features a low annual fee of $89 and now offers no foreign transaction fees for overseas and online purchases, which makes it a worthy companion to help save on fees when travelling overseas.
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 Purchase Protection Insurance.

Product NameColes Rewards 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.
Annual fee$89 p.a.
Interest Free Period
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
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$15,000
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.
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$2.50
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
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchNo
  • This card offers a promotional rate of 0% p.a. for 6 months on balance transfers.
  • You can enjoy an interest-free period of 62 days.
  • This card allows up to 8 additional card holders at no extra charge.
  • 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) Cap99999
Rewards Points per $ (AMEX) Cap-1
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 points for every $1 spent can offset the $89 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 overseas or on international websites, you would usually 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 eligible 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 Coles Rewards MasterCard offers 2 flybuys points per $1 spent. Enjoy $10 off any Coles Supermarket or Bi-Lo shop after redeeming 2,000 flybuys points. Eligible purchases exclude smoking or tobacco related product purchases, Coles Group gift cards and iTunes cards. Cardholders can redeem points for a range of merchandise spread across categories like home and garden, fashion, technology, travel, and lifestyle. If you earn or redeem points at least once every 12 months, your flybuys points do not expire.
  • 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 offer. 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

The Coles Rewards MasterCard comes with a number of features, including:

  • Earn flybuys points. Earn 2 flybuys points per dollar spent when you make an eligible purchase on the card.
  • Rewards points earning. Earn 2 rewards points per $1 spent with this card.
  • No international transaction fees on purchases. Cut costs by paying no international transaction fees on purchases made online and overseas.
  • Annual fee is $89. 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 MasterCard zero liability guarantee. This benefit provides you with peace of mind knowing you are covered if unauthorised purchases are made on the card.
  • MasterCard PayPass. Tap and go at the checkout to pay for purchases under $100. For purchase amounts over $100, you’ll need to key in your PIN number. This provides faster checkouts and a greater level of convenience when making small purchases.
  • Free Delivery from Coles online. This applies to any single purchase from Coles online when you spend $100 or more with your Coles Rewards MasterCard, saving you time and money. The offer can be withdrawn at any time and excludes tobacco and tobacco related purchases and remote delivery orders.
  • Up to 62 interest-free days. Coles Rewards MasterCard offers free interest for up to 62 days as long as the balance is paid in full each statement cycle. This allows you to use the card and earn valuable points without paying any interest on purchases.
  • Online account management and Coles Mobile Wallet. You can manage your 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.
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How to apply for the Coles Rewards MasterCard

Applying for the Coles Rewards MasterCard is easy. You can apply for this credit card by completing and submitting the secure online application. Before you do, make sure you meet the following eligibility criteria:

Eligibility criteria

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

Required documents

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

If you’re a loyal Coles shopper, this card could be a good way to earn points as you spend while taking advantage of interest-free days, free online delivery and no foreign transaction fees. As this isn’t the only rewards card on the market, you’d benefit from comparing your options before applying.

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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 your flybuys points to cover purchases at Coles Express, Target, Kmart, Kmart Tyre & Auto Service, Liquorland, and First Choice Liquor. Otherwise, you can redeem your rewards for a variety of products on the flybuys website.

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.

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233 Responses to Coles Rewards MasterCard – Rates & Fees

  1. Default Gravatar
    Jason | February 7, 2016

    How come i never got the hundred dollars off my shopping when using my coles mastercard? I’m a new customer and been approved before the 9th of February deadline

    • Staff
      Ally | February 8, 2016

      Hi Jason,

      Thanks for your inquiry.

      Kindly note that is an online comparison service that does not represent any card provider such as Coles.

      However, to be able to enjoy the $100 cash back offer, you need to ensure that you meet the terms and conditions as well. One eligibility requirement for this is having a flybuy account. $100 off will then be activated on your flybuys account and available for (one-time) use within 4 weeks of your card approval date. $100 off will only be activated on the flybuys card quoted in the application process. You can easily redeem the $100 off by scanning your flybuys barcode on the back of your new Coles MasterCard and spending at least $100.05 after savings and discounts in one transaction at Coles Supermarkets or Bi-Lo.

      For more information, kindly click on either the ‘Find Out More’ or ‘Go to Site’ buttons at the upper right part of this page, which will redirect you to a new page, and then read through the terms and conditions located at the bottom of it. I have also sent you its link to your email together with Coles’ contact number, should you have further inquiries about this matter.

      I hope this has helped.


  2. Default Gravatar
    Lynden | February 5, 2016

    Hi there, if l put extra cash on my Cole credit card , for a overseas trip, so my limit is 6000 and l put my own cash on top of this 6000, so l put 4000 extra , so my limit becomes 10000. If l pull cash out of arm in Thailand,what fees will l get charged? As long as l don’t go below $6000?

    • Staff
      Jonathan | February 8, 2016

      Hi Lynden, thanks for your inquiry!

      If you are withdrawing funds overseas the cash advance interest rate will not be charged since you will be in a ‘credit’/positive balance. The only fees applicable for overseas ATM withdrawals are $4 per transaction.



  3. Default Gravatar
    Coral | January 28, 2016

    I am a self funded retiree so do not have a job just income from interest and dividends. How and can I apply for this card when you need an employers details.


    • Staff
      Jonathan | January 28, 2016

      Hi Coral, thanks for your inquiry!

      If you are retired/ self employed you can enter your own details in the employer fields.



  4. Default Gravatar
    brian | December 8, 2015

    received Coles Platinum Mastercard December 2013 but have not activated.If I activate now am I new card or existing customer

    • Staff
      Sharon | December 9, 2015

      Hi Brian,

      Thanks for your question.

      New customers are the applicants who are approved for a Coles Credit Card for the promotional period between 7 October and 31 December 2015. If you got your card in December 2013, and activate it now, you will be considered an existing customer.

      I hope this has answered your question.


  5. Default Gravatar
    Brad | December 1, 2015

    Hi, Just to confirm, if I was to make a large purchase with this card of say around $8k, would I have the whole 15 months to pay this off at 0% or only the 62 days?

    • Staff
      Jonathan | December 2, 2015

      Hi Brad, thanks for your inquiry!

      Providing the $8k amount is within your credit limit you will have the 15 months promotion period to repay the purchase.



  6. Default Gravatar
    Trudy | November 24, 2015

    Our family are travelling to US in a couple of weeks, and Im trying to work out the best way to take/carry our money.
    We have Coles source mastercard (rewards one) that now offers the no conversion fee which is great. My question is if we put credit on the card, can we get cash out without getting the cash advance fees?.
    Thanks in advance for your time replying
    Trudy :)

    • Staff
      Jonathan | November 25, 2015

      Hi Trudy, thanks for your inquiry!

      Loading your credit card account in a ‘credit’ status will allow you to avoid the cash advance rate of 19.99% p.a. , although the cash advance fee and overseas withdrawal charge will apply. These charges are $4 and 3% of the cash advance/cash equivalent transaction. The terms and conditions do not outline an exact amount you can load onto your credit but generally amounts under $10,000 will be accepted.

      I hope this helps.



  7. Default Gravatar
    | October 11, 2015

    I have coles mastercard ( the one which shows no annual fees) I just have that card since 4 months. Can I still apply for new 0% interest card for 15 months..Am I still eligible??

    • Staff
      Sally | October 13, 2015

      Hi Roshi,

      Thanks for your question.

      This offer only applies to new applicants approved before the end of the promotional period. You may like to view other 0% Purchase credit cards on this page.



  8. Default Gravatar
    benx | September 23, 2015

    The Coles Rewards MasterCard offers 2.00 flybuys points per $1 spent, does it apply to any transaction online? i.e online shopping in AU or overseas?

    • Staff
      Jonathan | September 25, 2015

      Hi Benx, thanks for your inquiry!

      2.00 flybuys points can be earned per $1 spent, providing that the transaction is spent on eligible purchases. Eligible purchases exclude cash advances, credit fees or charges, credits, refunds, reimbursements, business purchases or balance transfers into your account.



  9. Default Gravatar
    Lynne | September 21, 2015

    I have a coles platinum mastercard with zero annual fee. Does this card international transfer fees?

    • Staff
      Jonathan | September 21, 2015

      Hi Lynne, thanks for your inquiry!

      To clarify for international transfers, if the transaction is permitted the interest rate is the cash advance rate of 19.99% p.a. with a cash advance fee of 3% of the cash advance/cash equivalent transaction or $1.95, whichever is greater.



    • Staff
      Jonathan | September 21, 2015

      Hi Lynne, thanks for your inquiry!

      To clarify for international transfers, if the transaction is permitted the interest rate is the cash advance rate of 19.99% p.a. with a cash advance fee of 3% of the cash advance/cash equivalent transaction or $1.95, whichever is greater.



  10. Default Gravatar
    Vince | September 9, 2015


    First of all a big thanks to you guys for answering all the queries, much appreciated.

    I recently applied for Coles MasterCard Platinum and got it approved for $2k. As I did not get the limit of $6K, what benefits I will be missing? Coles website says

    “You can enjoy the same great features and even more with our Platinum Coles Rewards MasterCard if you’re approved for a credit limit over $6,000 when you apply.

    These benefits include complimentary access to our 24/7 worldwide concierge service, as well as Merchandise Protection Insurance, which protects the items you buy with your card in case they’re lost, stolen or damaged”.

    Does this mean I will not get the merchandise protection and price protection for 2 years? I don’t really care for the concierge service though.

    Is international transaction fees and overseas currency conversion fees one and the same? Because on coles website it says “No international transaction fees on purchases – when you’re shopping online or when you’re overseas”, but no mention of currency conversion, unlike 28 Degrees card.

    I already have the 28 Degrees mastercard, should I cancel it as coles mastercard now offers pretty much the same?

    Looking forward to your reply, thanks in anticipation.

    • Staff
      Jonathan | September 10, 2015

      Hi Vince, thanks for your inquiry!

      Merchandise protection insurance is only included on Platinum cards with Coles.

      International transaction fees are the same as currency conversion fees. As a result you can enjoy no extra charges when making purchases in another currency. Depending on your credit card needs it would be best to assess which cards are best suited towards your requirements. You may like to view our reviews on Coles Rewards MasterCard and the 28 Degrees MasterCard.



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