Coles Rewards MasterCard – Rates & Fees

Rates and Fees verified correct on March 5th, 2015
Coles Rewards Mastercard Find out more Go to site
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 >>

With the Coles Rewards MasterCard you can earn flybuys points for every dollar spent. *Receive 10,000 bonus flybuys points and a balance transfer offer

Earn flybuys points faster with 2.000 points for every $1 you spend on the Coles Rewards MasterCard. This is in addition to flybuys points that are earned with flybuys partners. Furthermore you can also take advantage of a balance transfer offer with 0% p.a. for 6 months.

Coles MasterCard offers two different credit cards depending on your needs. Looking for a card with no annual fee, there is the Coles No Annual Fee MasterCard. This card offers 0.500 flybuys point for every $1 you spend everywhere. They also offer the Platinum MasterCard for those who qualify for a credit line over $1,000. This includes additional benefits like 24 hour concierge services and merchandise insurance.

This offer is exclusive to finder.com.au only

As you know, it’s part of our on-going mission to find you a better deal as we continuously seek to provide you with the best possible offers. Our exclusive offers are unique to the market and are only available if you apply online through finder.com.au

For more information about the application process and to see whether you’re *eligible for this offer, see below.

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.
Offer end date31 March 2015
Annual Fee$49 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. This would usually start from the first day of your credit card statement and not when the purchase is made.
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.
$1,000
Minimum Monthly Repayment2.22%
Minimum Income$15,000 p.a.
Card TypeVisa
Late Payment Fee$20
Foreign Currency Conversion Fee (MC)2.5% of transaction value
Complimentary Travel InsuranceNo
Available to Temporary ResidentsYes
Joint ApplicationNo
Minimum Income$15,000
Minimum Age18 years of age
Available to Temporary ResidentsYes - Conditions apply
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.
$1,000
Annual Fee$49 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)2.5% 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
  • 10,000 bonus flybuys points.
  • 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
Bonus Points on Sign-up10,000
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 Coles Supermarkets and flybuys partners. The ability to accumulate 3.00 points for every dollar spent can offset the $49 p.a. annual fee if the card is used regularly. Points add up quickly and you can receive $10 off Coles Supermarket purchases 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.

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Benefits of the Coles Rewards MasterCard

  • Rewards for Coles Rewards MasterCard
    Coles Rewards MasterCard offers 2.000 points for every $1 spend. The Coles Rewards MasterCard provides a MasterCard Rewards card and flybuys card in one. 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.

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Features of the Coles Rewards MasterCard

  • Annual fee is $49 p.a. per year - The Coles Rewards MasterCard annual fee is charged on the date of your first purchase and on every anniversary of that purchase.
  • Zero liability on purchases - Every Coles MasterCard comes with fraud protection by Falcon fraud management system. This benefit provides card holders with peace of mind knowing you will never be held responsible for unauthorised purchases 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 over $100 when you pay with your Coles Rewards MasterCard. Saving both time and money with the convenience of shopping online.
  • 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 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

Eligibility Requirements

        • Must be 18 years or older
        • Must have after tax income of at least $15,000 p.a.
        • Must be an Australian resident or intend to stay for the next 12 months with corresponding visa
        • Recommended that you be the primary household earner

*How can I be eligible for the exclusive offer?

        • Click through the “Go to Site” button and submit your application from finder.com.au.
        • Be approved by the 31 March 2015.
        • Make one transaction on your Coles MasterCard within 30 days of approval date
        • Be a new customer

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 2 March 2015 at 18:08.

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Rates and fees mentioned in comments are correct at the time of publication.
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161 Responses to Coles Rewards MasterCard – Rates & Fees

  1. Default Gravatar
    Andrea | March 4, 2015

    Can the points be used for airfares ? thanks

    • Staff
      Jonathan | March 4, 2015

      Hi Andrea, thanks for your inquiry!

      Coles Rewards Mastercard earns flybuys points, allowing you to book flights through Webjet. For more information on the flybuys rewards program please see this page.

      Cheers,

      Jonathan

  2. Default Gravatar
    Sinisa | February 26, 2015

    How can I apply for Coles Mastercard with 0% balance transfer?

    • Staff
      Jonathan | February 27, 2015

      Hi Sinisa, thanks for your inquiry!

      Please refer to the link I have sent to your email for Coles Mastercards applications.

      Cheers,

      Jonathan

  3. Default Gravatar
    Sue | February 16, 2015

    What is the web address for applying for a Coles Mastercard on the 0% transfer option?

    • Staff
      Jonathan | February 17, 2015

      Hi Sue, thanks for your inquiry!

      Please refer to the link I have sent to your email containing the Coles Mastercard applications.

      Cheers,

      Jonathan

  4. Default Gravatar
    S | February 16, 2015

    What is the balance transfer limit for the rewards credit card? I can see the no annual fee card says no limit for this heading but rewards card doesn’t have this heading

    • Staff
      Jonathan | February 16, 2015

      Hi S, thanks for your inquiry!

      The balance transfer amount can “be for an amount within the available credit on your account so that processing the balance transfer will not result in your credit limit being exceeded.” This means you can balance transfer up to your approved credit limit.

      Cheers,

      Jonathan

  5. Default Gravatar
    Deb | February 13, 2015

    Hi
    Which ATM’s can I use with the Coles MasterCard and are there any fees? If so, what are the fees please?
    Thanks

    • Staff
      Jonathan | February 13, 2015

      Hi Deb, thanks for your inquiry!

      You can access cash from any ATM around Australia. Simply select “credit” and then enter your PIN. You won’t pay the industry wide ATM operator fee when you use a Westpac ATM.

      Cheers,

      Jonathan

  6. Default Gravatar
    Peter | February 7, 2015

    As retiree’s with super and pension payments are we able to apply for a balance transfer. We own our own home worth approx $X with no dependants or debt with what we feel would be an exemplary credit rating.

    • Staff
      Jonathan | February 9, 2015

      Hi Peter, thanks for your inquiry!

      Please note that finder.com.au is an online comparison service, we are not directly affiliated with Coles. Lenders have individual lending policies and Coles will need to assess your financial and personal situation to be able to advise on your options and eligibility. For more clarity on the application process please refer to the application requirements on the page.

      I hope this has helped.

      Cheers,

      Jonathan

  7. Default Gravatar
    BW | February 6, 2015

    I currently have $10K Credit Card balance with ANZ Bank
    I would like to transfer all of the due balance over to Coles Reward Mastercard
    Is this correct, it will not then be due for 18mths
    or accrue further interest for 18mths ?

    What happens when I then spend another $100 on the new Coles card
    and pay just that $100 back within the 62day limit,
    understanding that I then pay no interest on the $100 dollars.

    Nor the $10K so long as I repay in time

    how do you differentiate the 2, is it showing as opening balance..?

    thanks

    • Staff
      Jonathan | February 6, 2015

      Hi BW, thanks for your inquiry!

      Please note if there is any balance transfer/ amount outstanding the card will not receive interest free days.

      Please see this page for considerations when completing a balance transfer including cancelling old cards.

      Cheers,

      Jonathan

    • Staff
      Jonathan | February 6, 2015

      Hi BW, thanks for your inquiry!

      Until the balance transfer amount/ outstanding balance has been fully cleared, the credit card will not receive any interest free days on purchases.

      Cheers,

      Jonathan

  8. Default Gravatar
    Deborah | January 30, 2015

    How do I close my Coles master card account please?

    • Staff
      Jonathan | January 30, 2015

      Hi Deborah, thanks for your inquiry.

      Coles Mastercard accounts can be closed by contacting the Coles Mastercard team. Please refer to the contact details I have sent to your email.

      I hope this helps.

      Cheers,

      Jonathan

  9. Default Gravatar
    Jack | January 28, 2015

    What is the maximum credit limit that they offer?

    • Staff
      Jonathan | January 29, 2015

      Hi Jack, thanks for your inquiry.

      The maximum credit limit is determined by the lender/ bank. Please note that lenders have individual lending policies. Coles/ GE Money will need to assess your financial and personal situation to be able to advise on your options and eligibility.

      I hope this helps!

      Cheers,

      Jonathan

  10. Default Gravatar
    Pamela | January 27, 2015

    I am recently widowed. My husband had a Coles Mastercard (credit card) with me as a secondary card holder. This account is now closed. I am retired and only earn a living from rents on two investment properties. I am awaiting the clearance of monies due to me from my husbands Superannuation. My net income does not meet the $15,000.00 criteria, however once I receive the superannuation funds I will not be in any difficult situations at all. I also aim to cash in our investment properties which will make me even more able to afford a credit card. Basically I am asset rich and a little cash poor. Currently I have a visa card with a limit of $8,000.00 which I pay off each month.
    Will GE Finance even bother to process my application with the above criteria?

    • Staff
      Elizabeth | January 28, 2015

      Hi Pamela,

      Thanks for your question.

      Unfortunately as your income falls below the $15,000 p.a. minimum requirement you are likely not to be approved. As the applications are handled directly by Coles we can’t comment on the flexibility of these requirements, but those are their minimums. You may want to get in contact with them directly to discuss your individual situation and the likelihood of your application being approved.

      I hope this has helped.

      Thanks,

      Elizabeth

Credit Cards Comparison

Rates last updated March 5th, 2015
Interest rate (p.a.) Balance transfer rate (p.a.) Annual fee Cash advance rate (p.a.)
St.George Vertigo Visa
St.George Vertigo Visa
A low annual fee and low interest rate offer on balance transfers. 0% p.a. for 3 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. 21.49% p.a. Go to site More info
Virgin No Annual Fee Credit Card
Virgin No Annual Fee Credit Card
Take advantage of the 0% p.a. for 14 months balance transfer offer 18.99% p.a. 0% p.a. for 14 months $0 p.a. 20.99% p.a. Go to site More info
Westpac Low Rate Card
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 16 months $59 p.a. 21.49% p.a. Go to site More info
HSBC Platinum Credit Card
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
American Express Qantas Discovery Card
American Express Qantas Discovery Card
Receive 7500 Qantas Points and pay no annual fee ever. Plus earn 1 Qantas Point per $1 spent on all your everyday purchases. 20.74% p.a. 0.99% p.a. for 6 months with 1% balance transfer fee $0 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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