Coles Rewards Mastercard

Offer
Card features
foreign exchange fee
overseas ATM balance fee
overseas ATM withdrawal fee
Apply
Coles Rewards Mastercard
Apply by 31 mar 19
75 reviews
Coles Rewards Mastercard
Receive $100 off a single Coles Supermarket shop when you apply online by 31 March 2019, are approved and make a purchase in the first 30 days (new customers only).
0% p.a. on balance transfers for 6 months (reverts to Cash Advance rate).
Collect 2 points per $1 on eligible spend – that’s on top of the usual flybuys points from other partners.
Add to comparison
2.5%
$0
$5

Pros & cons

What's good?

What's not so good?

Receive $100 off a single Coles Supermarket shop when you apply online by 31 March 2019, are approved and make a purchase in the first 30 days (new customers only).
0% p.a. on balance transfers for 6 months (reverts to Cash Advance rate)..
Collect 2 points per $1 on eligible spend – that’s on top of the usual flybuys points from other partners.
Save $10 instantly at the checkout when you redeem 2,000 flybuys points.
A rewards card with only a comparatively small annual fee.
No international transaction fees on purchases when you shop online or overseas.
Up to 55 days on purchases (no interest free days apply for Retails Purchases while you have a Balance Transfer).
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..
$5 fee applies when you withdraw outside of Australia or in a foreign currency.
Late payment attracts a $10 fee every 7 days.

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.

User reviews

4.0 out of 5.0 based on 75 reviews91% of reviewers would recommend this card

Rates and fees
Rewards
Customer service
Convenience
Trust

Reviews from users

Lengthy application process

Reviewed and recommended by Kelly on 23 Aug 2017

There are good benefits to be had from the card but application process is time consuming and lengthy.

It’s been over a month of going back and forth and I still haven’t received the card yet.
Customer service is terrible, and every event is quoted as 7-14 days for processing. Like when I did my ID check, then it took a further 10 days and another follow up phone call for them to progress the next step.

The best reward is security

Reviewed and recommended by Gillian on 09 Jan 2017

While Coles MasterCard does not necessarily offer the best physical rewards program, it does offer the best security that I have ever seen in a credit card, which is the best reward anyone could ask for — an easy night’s sleep.

The customer service staff are kind and easy to speak to.

Ready to switch to a fee-free card

Reviewed and not recommended by Graeme on 12 Dec 2016

It has flybuys, and the only real reason I have had this card is I had it back when Coles gave you a discount on everything they owned through their shares. It’s not practical now, and if I found a free, trouble-free card I would likely switch. Also, you have to pay an annual fee on this card.

Rewards add up to more than the annual fee

Reviewed and recommended by Carol on 05 Dec 2016

I love my Coles MasterCard. We use it for everyday purchases as well as business purchases, and pay the balance every month by the due date so we don’t get charged interest. We earn usually a couple of hundred dollars a year in reward vouchers, so with only an $89 annual fee, they actually pay us to have the card. Plus they have had no international transaction fees this year, which saved money on overseas purchases.

Ticks every box

Reviewed and recommended by Brennen on 20 Nov 2016

I’ve been very happy with this card so far. The fees are reasonable. The online service is simple. The app is easy and always works. They’ve contacted me about unusual activity. They’ve been easily contactable and responsive to my issues. They’ve resolved any queries I’ve had. They’ve been clear and forthright and it’s a good value card with good service to back it up. I’m a happy customer.

Interest rate the only drawback

Reviewed and recommended by Liane on 15 Oct 2016

Apart from the high interest rate, which applies only to an open balance after 55 days credit use, Coles Platinum MasterCard has served its purpose. It suits my needs, and provides security and peace of mind.

Customer service promptly alerts me to any unusual activity on my account and provides assistance with cancellation of purchases and refunds.

Reasonable backup card

Reviewed and recommended by Mari on 01 Oct 2016

Overall I have found the card to be a good backup when required. It’s good for use online. My preference would be for it to have no annual fee. Then this would be a very good card.

The interest rate is high and needs to be reviewed, as with all credit cards.

Customer service has been good when required.

Rewards rack up quickly

Reviewed and recommended by Rella on 29 Sep 2016

This is a great card if you do all your grocery shopping at Coles, buy petrol at Shell, and take advantage of the flybuys partners. The points will rack up quickly. I like redeeming $10 off at each Coles shop. There is a large selections of rewards.

It would be nice if the interest rate was a little lower, or the interest free days applied to all purchases.

Accepted, trusted and convenient

Reviewed and recommended by Eileen on 23 Sep 2016

Knowing that I am contacted whenever a large transaction is made, to ensure it was me or my husband, reassures me when making a purchase, paying a bill or using the card anywhere around the world. This is the one card we have always had accepted wherever we go, and added to that is the bonus of earning flybuys points whenever we use our card.

We pay in full every month so never have to pay any interest. It is just so convenient, so safe and so rewarding.

Points help to pay for groceries and petrol

Reviewed and recommended by Brett on 22 Sep 2016

I originally got this card for the low $49 annual fee and because you earn two flybys points for every $1 that you spend. To be able to use your points collected to pay for everyday items like petrol and groceries is a massive bonus.

It is an excellent credit card, definitely the best I have ever used, and I would highly recommend it.

Show 65 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
$10 p.a.

Credit limits

Minimum credit limit
$6,000
Maximum credit limit
$60,000

Repayments

Interest charged from
Purchase date
Interest free period
Up to 55 days on purchases
Minimum repayment
2%

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.6 months0%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 Rewards Mastercard at the promotional balance transfer rate from:

  • Coles

Rates & fees

Promotional interest rates

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.6 months0%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
$99 p.a.
Cash advance fee
3%
Dishonour fee
$15
Duplicate statement fee
$2
Foreign exchange fee
2.5%
Late payment fee
$10
Over limit fee
$10
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
N/A
Overseas earn rate
Same as standard earn rate
Points cap per month
No
Points cap per year
Unlimited
Points earned on ATO payments
N/A
Reward points
2 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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