Coles Low Rate Mastercard

On website

Apply by 30 June 2024

Coles Low Rate Mastercard

Balance transfer

15 months at 0% p.a.

Purchase rate

12.99% p.a. ongoing

Annual fee

$58.00 p.a. ongoing

Highlights

  • 0% per annum (p.a.) for balance transfers spanning 15 months. Afterward, it reverts to the cash advance rate of 19.99% p.a.
  • Enjoy a modest annual fee of $58 p.a.
  • Earn 1 Flybuys Point for every $2 spent at Coles Supermarkets.

Pros and cons

Pros

  • 0% p.a. on balance transfers for 15 months.
  • Complimentary access to your 24/7 local concierge.
  • Interest-free for up to 55 days.

Cons

  • There is a 1.5% balance transfer fee.
  • You can only earn Flybuys points at Coles Supermarkets.
  • No interest-free days while you have a balance transfer.

About this credit card

Basics

Card usage

Apple Pay Enabled
Yes
Card Type
Mastercard
Gambling Transactions Allowed
No
Samsung Pay Enabled
Yes

Eligibility

Joint Application Accepted
No
Minimum Age
18 years
Minimum Credit Rating
Good, Very Good, Excellent
Minimum Income
$25,000.00
Temporary Residents Accepted
No

Additional cardholders

Additional Cardholders
4
Additional Card Fee Ongoing
$0.00

Credit limits

Minimum Credit Limit
$1,000.00
Maximum Credit Limit
N/A

Repayments

Interest Charged From
Purchase date
Interest Free Period
Up to 55 days on purchases
Minimum Repayment Percentage
2%

Balance transfers

Balance transfer offer

Balance Transfer Rate
0%
Balance Transfer Period
15 months
Balance Transfer Fee Percentage
1.5%

Balance transfer conditions

Balance Transfer From Personal Loan
Yes
Balance Transfer Limit Percentage
80%
Balance Transfer Revert Rate
19.99%

Rates, fees, charges

Cash advances

Cash Advance Rate
19.99% p.a.
Cash Advance Fee
$1.95
Cash Advance Fee Percentage
3%
Cash Advance Fee Threshold
N/A

Purchases

Purchase Rate Introductory Offer
N/A
Purchase Rate Introductory Period
N/A
Purchase Rate Ongoing
12.99% p.a.

Account fees

Annual Fee Initial Year
N/A
Annual Fee Ongoing
$58.00
Dishonour Fee
$15.00
Duplicate Statement Fee
$2.00
Foreign Exchange Fee Percentage
2%
Late Payment Fee
$30.00

Rewards

Rewards program basics

Rewards Program
flybuys
Rewards Program Annual Fee Initial Year
N/A
Rewards Points Expiry
None

Rewards points per $1 spent

Domestic Rewards Points Earn Rate
0.50
Government Rewards Points Earn Rate
N/A
Overseas Rewards Points Earn Rate
0.50

Additional perks

Insurance

Cardholder's Domestic Hotel Burglary Insurance
No
Cardholder's Extended Warranty Insurance
No
Cardholder's International Travel Insurance
No
Cardholder's Interstate Flight Inconvenience
No
Cardholder's Personal Item Theft Cover
No
Cardholder's Price Protection Insurance
No
Cardholder's Purchase Protection Insurance
No
Cardholder's Refund Protection
No
Cardholder's Transport Accident Insurance
No

Travel and lifestyle

Airport Lounge Access Included
No
Concierge Service Included
Yes
Complimentary Flight Voucher Included
No
Complimentary QFF Membership Included
No

Our review

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The basics

  • Additional cardholders. Add up to 4 additional cardholders at no cost. Share with trusted family and friends, who can spend with the card and help earn more rewards points. Note that the main account owner will be responsible for managing the credit limit and repayments.
  • Digital wallets. The Coles Low Rate Mastercard works with Apple Pay, Google Pay, and Samsung Pay.
  • Gambling transactions. Gambling transactions will not be approved on the Coles Low Rate Mastercard.

Rewards and benefits

  • Complimentary travel insurance. This card does not come with complimentary international travel insurance, which is not unusual for low rate cards such as this.
  • Concierge services. This card comes with complimentary access to Coles concierge service, which is available 24 / 7 to assist with everything from making travel arrangements and scheduling meetings to price comparison and making local recommendations.
  • Insurances. Cardholders get a complimentary cardholder's insurance policy covering goods purchased with the card for loss, theft, and accidental damage. The Coles Shield fraud monitoring service provides round-the-clock protection against fraudulent activity.
  • Rewards points. Collect 1 Flybuys Point for every $2 spent at Coles Supermarkets. Balance transfers, BPAY payments, cash advances, cash equivalents such as purchases of foreign currency and travellers cheques, and all government payments do not earn points.
  • Sign-up bonus. There is no signup bonus for this card.

Rates and fees

  • Annual fee. This card's annual fee is $58 p.a. ongoing, which is competitive with other similar cards.
  • Balance transfers. 15 months at 0% p.a. is not that competitive against other balance transfer offers. Moreover, any balance transferred that remains unpaid after the introductory period will revert to the cash advance rate of 19.99% p.a. There is a 1.5% balance transfer fee to consider.
  • Cash advances. The cash advance interest rate of 19.99% p.a. will apply from the date of the transaction. A one-off fee will also be applied per transaction.
  • Foreign exchange fee. Foreign currency transactions will attract a foreign transaction fee of 2.5% of the transaction amount.
  • Interest-free period. There are 55 days interest-free on purchases, but not while you have a balance transfer. The interest-free period on purchases doesn't apply to cash advances. To get interest-free days, you must have paid off the previous statement by the due date.
  • Purchases. There is no introductory purchase rate at the moment. All eligible purchases will attract the 12.99% p.a. interest.

account

Reviewed by Credit Card Compare Staff

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