Coles Group Source MasterCard – Details & Application
Most credit cards don’t offer the luxury of either a 0% p.a. for 6 months balance transfer offer and no annual fee, making the Coles Group Source MasterCard very unique.
The Coles Group Source MasterCard offers a new and innovative way of saving money on petrol.
All you have to do is use your credit card to purchase anything at Coles Group stores and you can count the savings at the service station. Below are the features of this card and the savings you are expected to make.
If you want a credit card that can handle pretty strong demand from consumers for great features and benefits then look no further than the Coles Source credit card.
To give an easy review of features and benefits of the Coles Source credit card, it’s important to consider all of the advantages this type of credit card can offer. More than just a credit card, this account can save money, helps accrue bonus points, offer discounts, and much more.
Interest Rates, Fees & Charges
| Balance Transfer Rate |  |
0% p.a. for 6 months |
|---|---|---|
| Interest Rate on Purchases | |
20.49% p.a. |
| Annual Fee | |
$0 |
| Interest Free Period | |
up to 62 days |
| Cash Advance Rate | |
21.99% p.a. |
| Card Type | |
Standard |
| Credit Card Type | |
MasterCard |
| Rewards Program | |
Yes |
The Coles Group Source MasterCard offers both no annual fee and a 0% p.a. for 6 months balance transfer offer.
Earn regular and extensive savings on petrol and FlyBuys with one of Australia’s most generous credit card offers.
Features
- 0% p.a. for 6 months on credit card balance transfers ^
- $0 annual fee
- Up to 62 days interest free on purchases #
- Interest free offers at certain stores for up to 48 month
- Fuel saving of 8 cents per liter. Regular savings on petrol – see diagram below to find out how.
- Earn more FlyBuys points at participating Coles Group stores **
How does it work?
The Coles credit card can save you 8 cents per liter on petrol. All you have to do is spend $30 or more in one transaction for a 4 cent fuel discount voucher. This voucher is received in the mail along with your credit card statement. This voucher should then be combined with a 4 cent fuel saving receipt which you receive when you spend $30 or more in one transaction at Coles, Liquorland and Bi-Lo.
The stand out features of this card is the $0 annual fee and 0% p.a. for 6 months on balance transfers. The 0% p.a. for 6 months on balance transfers is a great incentive to apply for this card and you could potentially save hundreds of dollars just by transferring your existing debt to the Coles credit card.
Besides the fuel saving, you can also earn additional FlyBuys points using the Coles Group Source MasterCard. To make it even more rewarding, you can apply for additional cards for your friends and family free of cost.
Application
The application process very simple and you can apply online. Once your application is received, your card should arrive in five to ten days. Once you receive your card you will have to activate it and it will be ready to use.
Eligibility criteria:
- You need to be an Australian citizen or permanent resident
- You need to be 18 years or older
During the application process you also have to provide some additional information such as employment and income details, identification documents, and landlords details if you are renting.
The card sells itself with the great features and savings it offers and to make it even more impressive it has won Money Magazines best credit card award for three consecutive years.
So if you want an award winning card that is designed to reward you for what you spend, you cannot look past the Coles Group Source MasterCard.
Benefits of the Coles Source Credit Cards
The providers of the Coles Source credit cards offer so many features and benefits, it’s easy to see why this account has won the Money Magazine best credit card award three years in a row.
Here is an outline of some of the benefits of this account:
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Discounts on Fuel Costs
With the rising cost of fuel, the advantage of saving 8 cents per litre at the pump can represent significant savings. It’s easy to reduce your fuel costs if you’re willing to use a Coles credit card.
-
No Annual Fee
The Coles Source credit cards don’t charge an annual fee, unlike so many of their competitors. This can save account holders hundreds of dollars a year in just fees.
-
Interest Free Offers
The sheer size and scope of the Coles group means that credit card account holders can benefit from buying items from any participating stores for up to 48 months interest free. Simply pay for your purchase using your Coles Source credit cards and you’ll qualify for interest free offers and incentives from participating stores.
-
Extra FlyBuys Points
When you link your Coles Source credit cards to a FlyBuys account, you can benefit from earning 2 points per $5 spent using your card. This can mean accruing far more points than normal that can be redeemed for great rewards, prizes and products.
-
0% Interest for Balance Transfers
If you have an existing credit card with a different lender, you may be eligible to transfer your old balance over to a Coles Source credit card and pay 0% p.a. for 6 months. This can give you time to reduce your outstanding balance without adding more interest to your debt levels.
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Additional Cards
Sometimes it’s necessary to have more than one card holder per account. You might have children away at school, or you might only want to have one credit card account for both husband and wife. Regardless of your options, adding an additional card holder to your Coles Source credit cards is easy. You can even add a new account holder online by logging into your account.
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World Wide Access
Coles Source credit cards are able to be used at more than 22 million locations around the world. This means you’ll always have access to cash whenever you need it, no matter where you are.
When you add up all the benefits and features of the Coles Source credit cards, it’s easy to see why this account is fast becoming a favourite for many Australians.
Best Retail Credit Cards:
Terms and Conditions
# Excludes cash advances and balance transfers. If you transfer one or more balances (other than balances migrated from a Coles Group Card) you will only be eligible for up to 62 days interest free on purchases made after the full balance transfer has been paid.
^ Minimum balance of $100. Balances cannot be transferred from a Coles Group Card or any card issued by GE Money. 0% interest rate only applies to the Coles Group Source MasterCard with no annual fee, and is valid for the first 6 months from the date the account is opened (or, in the case of Coles Group Source MasterCard with FlyBuys Points Extra Fast cardholders, from the date they switch to the card with no annual fee). Interest rate reverts to the standard annual percentage rate after this period. In all other circumstances the prevailing standard annual percentage rate will apply to any balance transfer requests. If you transfer one or more balances (other than balances migrated from a Coles Group Card), you will only be eligible for up to 62 days interest free on purchases made after the full balance transfer amount has been paid. See balance transfer application form for further terms and conditions.
** Earn 1 FlyBuys points for every $1 you spend on eligible transactions on your Coles Group Source™ MasterCard® at Coles group stores. You cannot earn more FlyBuys points until you have provided us with your FlyBuys number (subject to processing times to connect your FlyBuys number to your Coles Group Source MasterCard account). FlyBuys points awarded for using your linked Coles Group Source MasterCard are additional to any FlyBuys points awarded by participating retailers. If you are not already a FlyBuys member, you can join online at the FlyBuys website. Above 80,000 FlyBuys points per calendar year, members earn rate becomes 1 FlyBuys point per $5 spent. No FlyBuys points will be allocated to purchases made with the Coles Group Source MasterCard other than at Coles group stores. Some exclusions apply – see in-store for details. Standard FlyBuys terms and conditions apply.
| Minimum Income | Minimum Age | 18 years of age | |
| Residency | Permanent Australian Resident | Credit Rating Requirement | Good |
| Min Credit Limit | $500 | Max Credit Limit |
| Annual Fee | Balance Transfer Fee | ||
| Minimum Repayment | 2.22% | Interest Charged From | Purchase Date |
| Late Payment Fee | $25 | Over Limit Fee | $5 |
| Overseas Emergency Replacement | $0 | Overseas ATM Balance check | $0 |
| Overseas ATM Withdrawal | $4 | Foreign Currency Conversion Fee |
| Rewards Points per Dollar | 0.80 Point(s) | Points needed for Syd/Mel Return Flight | 28125 |
| Points needed for $100 Voucher | 15625 |
I do I reopen my account?