Coles launches three new debit cards – but what’s the catch?

Posted: 31 August 2015 1:00 pm


They’re actually prepaid Mastercards and are not linked to your transaction account.

Today Coles has launched three new prepaid debit cards:

  • Reloadable Mastercard
  • Gift Mastercard
  • Online Mastercard

The introduction of these products is not surprising, given that Coles' biggest competitor, Woolworths Money culled its reloadable prepaid card earlier this year. There are a few notable differences though – you can earn points with one of the cards offered by Coles (but none with Woolworths Money), and Coles seems to offer more of a range.

Coles Reloadable Mastercard

What it's forThe goodAnd the not-so-good
General everyday spending
  • Collect 1 flybuys point for every $2 you spend everywhere you shop
  • Free to reload and no monthly fees
  • $10 to purchase

Coles Gift Mastercard

What it's forThe goodAnd the not-so-good
To send as a gift
  • Add your own personalised message when you purchase online
  • Accepted at 38 million locations worldwide
  • $5 to purchase

Coles Online Mastercard

What it's forThe goodAnd the not-so-good
Shopping online
  • Available to purchase online and you start shopping within 5 minutes (apparently)
  • $5 to purchase

Coles vs the competition: How does Woolworths stack up?

How do these new Coles cards hold up against Woolworths'? You can see Woolworths' prepaid credit card details below, but take note that the card is no longer available.

ProviderDetailsCard Issue FeeLoad/Reload FeeMonthly Service Fee
Woolworths Reloadable MasterCard
You have the choice of two fee options:
Option A - Monthly
Option B - Pay as you LOAD
$9.95$0 Option A
$1 Option B
$1 Option A
$0 Option B

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