Coles Rewards MasterCard Review

Rates and Fees verified correct on July 2nd, 2015
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The Coles Rewards MasterCard now offers no international transaction fees for purchases made online and foreign transactions. Also, earn flybuys points on every dollar spent.

Earn flybuys points faster with 2.00 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 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 like 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
  • 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
  • Imposes a 19.99% p.a. interest rate on purchases.
  • 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 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

  • Pay no international transaction fees

    Save money when you shop online or when you travel overseas, as you don’t need to pay any international transaction fees on your purchases.

  • Rewards for Coles Rewards MasterCard

    Coles Rewards MasterCard offers 2.00 points for every $1 spend. The Coles Rewards MasterCard provides a MasterCard Rewards card and flybuys card in one, with no need to carry two cards. Just scan the barcode on the back of the Coles MasterCard when you make purchases at Coles or through flybuys. If you are not already a member of flybuys, you will automatically be enrolled when you are issued a Coles Rewards MasterCard. Please note: If you earn or redeem points at least once every 12 months, your flybuys points do not expire.

  • Apply for a balance transfer anytime

    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

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How to apply for the Coles Rewards MasterCard

Eligibility

  • Must be 18 years or older
  • Must have after tax income of at least $15,000 p.a.
  • Must be an Australian resident
  • Recommended that you be the primary household earner

Documents Needed

  • Income verification
  • Employment verification
  • Proper personal identification such as an Australian driver’s license

Coles Rewards MasterCard is the fastest way to earn rewards when combined with flybuys. Click here to compare cards and select which one is right for you.

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This page was last modified on 1 July 2015 at 12:40.

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204 Responses to Coles Rewards MasterCard Review

  1. 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

  2. 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

  3. 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

  4. 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

  5. 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

  6. 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

  7. 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

  8. Default Gravatar
    Mike | June 6, 2015

    I was approved for a Platinum Credit Card on May 27, I didn’t have and don’t want a flybuys card. How can I get my $100 voucher?

    • Staff
      sally.mcmullen@hiveempire.com | June 9, 2015

      Hi Mike,

      Thank you for your question.

      As stated in the Coles Rewards MasterCard terms and conditions, unfortunately the $100 voucher was only available through flybuys. Therefore, you may be unable to redeem your $100 voucher if you do not have access to a flybuys account.

      I hope this has answered your question.

      Thanks,

      Sally

  9. Default Gravatar
    Zip | June 1, 2015

    Hi Team,

    I applied this Coles MasterCard and got approved in April, however I still haven’t received my $100 off voucher via any contacts, could you share some light on this? Thank you!

    • Staff
      Jonathan | June 1, 2015

      Hi Zip, 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).”

      Cheers,

      Jonathan

    • Staff
      sally.mcmullen@hiveempire.com | June 1, 2015

      Hi Zip,

      The $100 voucher should have been directly debited into your flybuys card. 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 (excluding smoking/tobacco product purchases, Coles Group gift cards and iTunes cards).

      I hope this has answered your question.

      Thanks,

      Sally

    • Default Gravatar
      | June 2, 2015

      Hi Sally,

      Thanks for your prompt reply, so, am I supposed to get any sort of notification, so that I would know the credit is ready?

      Thanks~

    • Staff
      sally.mcmullen@hiveempire.com | June 2, 2015

      Hi Zip,

      No worries.

      The website stated that the points should have been automatically deposited onto your card within three weeks of your card approval date, and do not make mention of a notification.

      If you try to use the card and find that the points have not been allocated, you may wish to contact the Coles Credit Card Customer Care team.

      I hope this has been of assistance.

      Thanks,

      Sally

  10. Default Gravatar
    Naomi | May 25, 2015

    Can you have an additional card holder, and if so is there a fee?

    • Staff
      Jonathan | May 27, 2015

      Hi Naomi, thanks for your inquiry!

      Additional cardholders are supported on this credit card with no fee applicable.

      Cheers,

      Jonathan

Credit Cards Comparison

Rates last updated July 2nd, 2015
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Cash advance rate (p.a.)
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Westpac Low Rate Card
Westpac Low Rate Card
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HSBC Platinum Credit Card
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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.

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