Coles No Annual Fee Mastercard | Compare, Review & Apply

Coles No Annual Fee Mastercard

What do you want this card for?
Save money
Earn points
My rate: 
17%
 
My annual fee: 
$90
 
Price of my purchase: 
$5,000
 
Offer
Card features
balance transfer
purchase rate
annual fee
Money saved
Coles No Annual Fee Mastercard
Apply by 30 jun 19
64 reviews
Coles No Annual Fee Mastercard
No annual fee to pay, ever.
Get $100 off a Coles Shop when you apply online by 30 June 2019, are approved and make a purchase within the first 30 days.
0% p.a. on balance transfers for 15 months (reverts to Cash Advance rate). No interest free days apply to retail purchases while you have a balance transfer.
Add to comparison
15 months
0% p.a.
then 19.99%
with a 1% fee
19.99% p.a.
ongoing
$0
ongoing

Pros & cons

What's good?

What's not so good?

No annual fee to pay, ever.
Get $100 off a Coles Shop when you apply online by 30 June 2019, are approved and make a purchase within the first 30 days.
0% p.a. on balance transfers for 15 months (reverts to Cash Advance rate). No interest free days apply to retail purchases while you have a balance transfer.
Up to 55 days on purchases (no interest free days apply for Retails Purchases while you have a Balance Transfer).
Earn 1 flybuys point per $2 on eligible spend.
Earn $10 off your Coles Supermarket shop, instantly at the till, every time you redeem 2,000 flybuys points.
Protected by the Coles Shield.
After the promotional intro period on balance transfer is over, any unpaid balances will be subject to the cash advance rate, currently 19.99 percent p.a..
Late payment fee of $30 each time the Minimum Payment due and any Overdue Amount is not received by the Payment Due Date.

Terms and conditions apply. No interest free days apply for Retail Purchases while you have a Balance Transfer.

Disclaimer (2): Reviews rely upon third party information that may not be correct or may be changed without Credit Card Compare’s knowledge. You must carefully consider your own circumstances before making any commitments and confirm all offers and terms with credit card providers before accepting them. Please refer to our T&Cs for more.

Our review

Our review of the Coles No Annual Fee MastercardReviewed by Yvonne Taylor

Are you one of the more than 10 million Australians who is a member of the flybuys rewards program? You certainly should be if you shop at Coles, Kmart, Liquorland, First Choice Liquor, Target, Coles Express and eBay, or do business with Budget, AGL, Virgin Australia or Medibank. Now you can earn points 50% faster (in most cases) without it costing you a cent, courtesy of the Coles No Annual Fee Mastercard.

As an extra incentive, Coles are offering new cardholders an upfront gift worth $100.

Never pay an annual fee again

“No annual fee. Ever” is what Coles says about this card. But the absence of a fee doesn’t lead to a lack of features. This credit card does everything that the more expensive cards do. It’s:

  • Fast and convenient: Mastercard contactless payments lets you Tap & Go for transactions under $100, or just tap and enter your PIN for larger amounts.
  • Safe and secure: Backed by the Coles Shield and Mastercard Zero Liability Guarantee provided you follow a few standard precautions, it’s on constant alert for suspicious transactions or fraud.
  • Accessible and up-to-date: You can access your account easily online, and download the Coles Mobile Wallet app so that you can use your phone to track your purchases, card balance and flybuys points, and activate flybuys offers.
  • One card instead of two: It can act as a combined credit card and flybuys card, so that you only need to carry one card instead of two, even if you don’t use the mobile wallet app.

The ‘no annual fee’ promise also extends to supplementary cards on your account, so that you can apply for cards for family members and accumulate flybuys even more quickly.

Earn 1 flybuys point for every $2 spent, everywhere

Most credit card rewards programs come at a cost, in the form of the card’s annual fee. While it is often possible to recoup more than the cost of the fee in rewards value each year, wouldn’t it be great to earn points without that upfront liability hanging over your head? Well, now you can do just that.

In most cases flybuys program partners already let you earn one point per dollar for your spending no matter how you pay, and it costs nothing to join the program. The Coles No Annual Fee Mastercard adds an extra 0.5 flybuys to every dollar you spend, everywhere, not just at Coles supermarkets. So it makes sense to let your credit card earn extra points to add to those you are already collecting.

Instant $10 off your shopping

For 2,000 flybuys points you can get $10 off your Coles supermarket bill. That’s $2,000 of spending (with the vast majority of program partners) in cash or using another credit card. Pay with your Coles No Annual Fee Mastercard instead, and you only need to spend $1,333 with flybuys partners (thus earning 2,000 points) in order to earn that same $10 discount.

Other ways to redeem flybuys points

Although the instant cash discount at the Coles, Target, Liquorland or Kmart checkout is probably the most popular way to redeem flybuys points, there’s no shortage of other options:

  • Convert them into a $50 or $100 shopping gift card to give to someone else, at the same rate (i.e. 2,000 points per $10), for use at Coles, Target, Kmart, and selected lifestyle partners.
  • Redeem them for home and garden, fashion or technology products at the flybuys online store.
  • Exchange them for dining experiences or wine and spirits.
  • Swap for entry to entertainment attractions, such as movie tickets or the Sydney Tower Eye.
  • Convert them to frequent flyer points with Virgin Australia: 870 points per 2,000 flybuys.
  • Exchange points for flights and hotel accommodation.

For added flexibility, all reward options come with a Points + Pay feature, in case you don’t have quite enough points for your chosen redemption.

$100 off a Coles supermarket shop for new cardholders

For a limited time, new cardholders can take advantage of this special offer. Simply make your first purchase with the card within 30 days of being approved (a purchase made anywhere, not just at a Coles group retailer), and within three weeks your flybuys account will receive a $100 credit, redeemable once only against a single shop of at least $100.05 at a Coles supermarket.

Purchases of gift cards, iTunes cards and tobacco products cannot be included in the qualifying $100.05 amount, and the $100 credit cannot be redeemed at Coles Online or Coles Express.

Up to 55 days interest free

Provided you repay your card account balance in full every month you will continue to enjoy up to 55 interest-free days on every purchase transaction – 55 days if you make the purchase on the first day of the billing cycle, and up to 25 days even if your purchase is made on the last day of the statement period.

Complimentary purchase protection insurance

You’ll get a free insurance policy to cover goods you bought using the card. This will cover your major purchases against loss, theft or accidental damage for 90 days. Unlike most ‘complimentary’ credit card insurance policies, this one is truly free because the card issuer is not recouping the cost through the annual fee.

Concierge service for Platinum cardholders

If you apply for, and/or are approved for, a higher credit limit than the $2,000 minimum, you may qualify for the platinum version of the card.

In this case, you’ll be granted access to a worldwide concierge service. Help with restaurant and other entertainment recommendations and bookings, as well as hotel reservations and other time-saving assistance, will be only a phone call or mouse click away, whether you are at home or travelling the world.

Standard credit card interest rates

There’s nothing special, however, about the card’s ongoing interest rates of 19.99% p.a. for both purchases and cash advances. But if you plan to pay off your account balance in full and on time every month from this point on, thus completely avoiding both interest costs and late payment fees, you are unlikely to be troubled by this news.

Anyone who feels they are likely to be carrying an unpaid balance on a regular basis would be better off applying for the Coles Low Rate Mastercard.

Balance transfer offer let’s you apply now, instead of waiting

If this card looks appealing, but you’re hesitating because you need to clear the overdue balance on your existing card, Coles have another offer for you. Transfer the balance to your new Coles card, and pay no interest for 15 months. There is, however, a 1% upfront balance transfer fee to pay.

Plan to repay the balance within the 15-month offer period if you possibly can, because the revert interest rate – the rate you’ll pay after the 15 months has expired – is a high 19.99% p.a. Also be aware that you won’t be entitled to the 55 interest-free days while you have an unpaid transferred balance.

A look at competing ‘no annual fee’ cards

Coles are not the only credit card issuer offering something for nothing. The 28 Degrees Platinum Mastercard and the ME frank Credit Card both come without an annual fee attached, but neither of these cards allows you to earn any kind of loyalty points.

The American Express Essential Credit Card charges no annual fee and earns rewards points on purchases.

The Citi Simplicity Card also has a $0 fee, and comes with extensive ’shopper’s insurance’ as well as transit accident cover.

You can compare the features of all these cards on the ’No annual fee’ page in our Features section.

Why choose the Coles No Annual Fee Mastercard?

Coles have cleverly positioned this card to compete with other fee-free cards delivering either loyalty points or insurance benefits.

It is ideal for any regular Coles, Kmart or Target shopper who does not intend to run an unpaid purchase balance, and who wants simple rewards, a free $100 supermarket shopping spree, purchase protection insurance and possibly a concierge service, all for zero, zip, zilch, nada.

Disclaimer: Reviews rely upon third party information that may not be correct or may be changed without Credit Card Compare’s knowledge. You must carefully consider your own circumstances before making any commitments and confirm all offers and terms with credit card providers before accepting them. Please refer to our T&Cs for more.

User reviews

4.0 out of 5.0 based on 64 reviews89% of reviewers would recommend this card

Rates and fees
Rewards
Customer service
Convenience
Trust

Reviews from users

Customer care representative was rude

Reviewed and recommended by Priya on 02 May 2017

I called customer care for a charge query. But the representative was rude, did not listen to my query and hung up on me! I ended up being on hold again for 40 minutes, demanded to speak to supervisor and finally got my query resolved. I was quite angry after this episode

i save a lot on this 'no annual fee' card

Reviewed and recommended by amandeep on 05 Apr 2017

It’s a good credit card for rewards and I get $10 off for every 2000 points. It’s also a no-fee card.

This is my first ever credit card and it is a really good card. I will recommend to my friends and family members to get this card.

$100 dollar offer promised but not fulfilled

Reviewed and not recommended by J on 04 Apr 2017

They promised to give me a $100 voucher with this card to use at Coles. They confirmed and re-confirmed my eligibility, then never provided it. Then, when I rang, they suddenly changed and said it was their mistake – I am not eligible. What a scam.

And the approval process was very slow, with far more documentation required than they suggest. Very scammy.
They have an Indian call centre.

It shouldn’t be allowed, but you don;t get paid for your time to filter through the ACCC or Ombudsman or Fair Trading, so they get away with it.

Watch out for their interpretation of due date

Reviewed and not recommended by Andrew on 31 Jan 2017

Make sure you pay before the due date. Yes, at least three days before, they say! Otherwise interest will be charged. Customer service didn’t want to hear or see proof that payment had been made from my account on the due date. I will be cancelling the card and taking my business, including insurance, elsewhere.

Disappointment could be a great product.

Great card, with no catches so far

Reviewed and recommended by Byron on 10 Dec 2016

There’s no annual fee, so no $ up front. It’s a great option compared to 0% balance transfer cards, as you don’t have to foot the $75+ fee for that service. Instead, this card offers the simple solution of no interest on purchases for ages, then reverts to a standard rate at the end. It’s like a GE Finance option at a retail store, without the formidable 30% interest at the end, while you scramble to finish paying off your purchase. So far I haven’t found any catches with this card.

Very poor customer service

Reviewed and not recommended by L on 03 Dec 2016

I only found out my Coles Credit Card had been put on hold when I went to pay for my click and collect Coles order. My card had been declined. No notice, no emails or texts were provided. I spent hours waiting on hold on the phone, trying to talk to a “non-customer service” person. I saw a dubious transaction listed in my online statement which I did not make. I finally was connected to a person and they cut me off. After hours on hold again, I finally spoke to a person. Worst customer service ever.

What more could you want?

Reviewed and recommended by Zachary on 21 Oct 2016

Want a credit card with a rewards program?
Want a credit card with no annual fee?
Want a credit card with a no fuss application process?
Want a credit to use just for that emergency situation that you didn’t foresee?

Then look no further — the Coles No Annual Fee MasterCard is the card for you! From the application process until you first use your card, this product is a pleasantly smooth ride.

My only dislike is the interest rate

Reviewed and recommended by Lynda on 30 Sep 2016

I’ve owned this card for many years. I only have the one credit card. I didn’t choose it — I was transferred onto it when it replaced another card.

I’ve no major complaints. The service has been good, and I’ve been able to successfully negotiate a refund of the odd late fee, to my satisfaction. The credit limit has been flexible on the odd occasion I have gone over it.

I like that it gives me extra flybuys points when I do my grocery shop, and pay my power bill. The only negative for me is the higher interest rate.

Not my best decision

Reviewed and not recommended by Mick on 27 Sep 2016

This was my first credit card, with 19% rate, and a month later interest rates crashed and other Coles cards were 9%. But I still get flybuys points — that was my reason for getting the card. And at least it has no annual fee.

Otherwise it’s a fair card, but I think I might choose differently next time.

Fantastic first credit card with rewards

Reviewed and recommended by Skye on 27 Sep 2016

This is my first credit card and I would highly recommend it — no annual fee, low interest rates, and you can earn flybuys points just by using your card. I would recommend this product to anyone wanting to manage their budget and earn shopping points in the process.

The application process was quick and easy and I received the card quickly in the mail.

Show 54 more reviews
Disclaimer: The opinions expressed about credit cards are the reviewer's alone, and do not reflect the views of Credit Card Compare or the credit card issuer. Reviews have not been approved or otherwise endorsed by Credit Card Compare.

The basics

About this card

Card setup
Single
Card tier
Standard
Card type
Mastercard
Card use
Personal
Credit rating
Good
Gambling transactions allowed
No
Joint application
No
Minimum age
18 years old
Minimum income
$25,000
Minimum income for pensioners
N/A
Pensioners
N/A
Rewards program
flybuys
Temporary residents
N/A

Cardholders

Additional cardholders
4
Additional card fee
$0 p.a.

Credit limits

Minimum credit limit
$2,000
Maximum credit limit
$60,000

Repayments

Interest charged from
Purchase date
Interest free period
Up to 55 days on purchases
Minimum repayment
whichever is greater $30 or 2%

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.15 months1%80% of credit limit19.99% p.a.

Balance transfers to this card

Balance transfer earns rewards
No
Balance transfer fee payment due
First statement
Balance transfer from personal loan
No
Balance transfer processing time
10 - 14 days
Interest free days with unpaid balance
0 days
Maximum balance transfer
80% of credit limit
Available to existing customers
No

Banks you can't balance transfer from

You can't balance transfer to the Coles No Annual Fee Mastercard at the promotional balance transfer rate from:

  • Coles

Rates & fees

Promotional interest rates

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.15 months1%80% of credit limit 19.99% p.a.
PurchasesN/AN/AN/AN/A N/A

Ongoing interest rates

MonthlyAnnually
Cash advances 1.67% 19.99% p.a.
Purchases 1.67% 19.99% p.a.

Fees

Annual fee
$0 p.a.
Cash advance fee
whichever is greater, $1.95 or 3%
Dishonour fee
$15
Duplicate statement fee
$0
Foreign exchange fee
2.5%
Late payment fee
$30
Over limit fee
$0
Overseas ATM balance fee
$0
Overseas ATM withdrawal fee
$5
Overseas emergency card replacement fee
$0
Transaction verification fee
$0

Rewards & points

Cool stuff you can get with your points

Disclaimer: Points required accurate as of the 31st March 2018.

Rewards program basics

First purchase bonus
N/A
Reward points expiry
Never as long as you keep your account active
Rewards program
flybuys
Sign up bonus
N/A
Spend required for bonus points
N/A

Earning points with this card

Frequent flyer points
0.5 pts per $1 spent
Overseas earn rate
Same as standard earn rate
Points cap per month
Unlimited
Points cap per year
Unlimited
Points earned on ATO payments
N/A
Reward points
0.5 pts per $1 spent

Additional benefits

Airport lounge access
N/A
Complimentary flight voucher
No
Concierge service
Yes

Minimum criteria for this card

What you need before applying

Be over 18 years old
You are a resident or citizen of Australia
Earn a regular income of more than $25,000 per year
Have a good credit history
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
Joint applications are not allowed
Disclaimer: The minimum criteria are intended only to be a guide. Your application may still be rejected by the bank even if you can answer 'Yes' to all the minimum criteria. The final decision regarding your application is up to the bank.

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