With the Coles Low Rate Mastercard, you can enjoy a low ongoing rate of 12.99% p.a. on purchases with a low annual fee.
The Coles Low Rate Mastercard offers 12.99% p.a. on purchases and comes linked to the flybuys loyalty program. This allows cardholders to earn points when they spend at Coles Supermarkets and receive free delivery when they shop at Coles Online (if you spend more than $100).
|Product Name||Coles Low Rate Mastercard|
|Balance transfer rate (p.a.)||0% p.a. for 6 months|
|Balance Transfer Revert Rate|
The interest rate after the balance transfer ends.
|Purchase Rate (12.99% p.a.)|
|Balance Transfer Limit||100% of available credit limit|
|Purchase rate (p.a.)||12.99% p.a.|
|Annual fee||$58 p.a.|
|Interest Free Period|
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
|Up to 62 days on purchases|
|Cash advance rate (p.a.)||19.99% p.a.|
|Min credit limit|
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
|Foreign Currency Conversion Fee (MC)|
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
|1.5% of transaction value|
|Complimentary Travel Insurance||No|
|Minimum Age||18 years of age|
|Available To Temporary Residents||No|
|Credit Rating Requirement||Good|
|Annual fee||$58 p.a.|
|Minimum Monthly Repayment||2.222% or $10 (whichever is greater)|
|Late Payment Fee||$20|
|Cash Advance Fee||3% of the cash advance/cash equivalent transaction or $1.95, whichever is greater|
|Overseas ATM Withdrawal Fee||$4|
|Foreign Currency Conversion Fee|
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You'll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
|Additional Cardholder Fee||$0|
|Number of Additional Cardholders||8|
- Enjoy a promotional rate of 0% p.a. for 6 months on balance transfers.
- Receive up to 62 interest-free days on purchases.
- You can request up to 8 additional cardholders at no extra charge.
- flybuys points are only earned at Coles Supermarkets.
|Rewards Points per $ spent (VISA/MC)||0.5|
|Rewards Points per $ (VISA/MC) Cap||Uncapped|
Coles Low Rate Mastercard review
If you’re a Coles customer who is looking to make the most of your shopping by earning and redeeming flybuys points, getting the Coles Low Rate Mastercard could be a worthwhile consideration. While this card doubles as a credit card and a flybuys card in one, it also gives you the ability to earn flybuys points when you shop and get free delivery from Coles Supermarkets when you spend more than $100 online. Cardholders also have the opportunity to receive up to 62 interest-free days on purchases if they pay off their balance in full each month.
Benefits of Coles Low Rate Mastercard
- Low ongoing purchase rate. Receive a competitive ongoing purchase rate of 12.99% p.a. on the Coles Low Rate Mastercard.
- Balance transfer offer. Consolidate your debt with a 0% p.a. for 6 months on balances transferred. Balance transfers revert to the purchase rate after the promotional period.
- flybuys. This card comes with free membership to the flybuys loyalty program. You can earn flybuys points on this card and, when you use it to shop at Coles Supermarkets, you can earn 0.5 points for every $1 spent. Points are awarded in whole numbers and are rounded down. When it comes to redeeming accumulated points, you can receive $10 off a Coles Supermarket purchase for every 2,000 points. If you earn or redeem points at least once every 12 months, your flybuys points do not expire. Scan your flybuys membership card at the same time and you'll get an extra 1 point per $1 spent.
- Free delivery. When you use this card to pay for purchases at Coles Online, you can look forward to free delivery as long as the total exceeds $100.
- Coles Mobile Wallet. The Coles Mobile Wallet is an app that allows cardholders to easily keep track of their credit card account, transaction details and flybuys points in real time. With the Coles Pay Tag, you can also use your smartphone to pay for purchases.
Features of the Coles Low Rate Mastercard
- Annual fee. This low rate Mastercard attracts a nominal annual fee of $58.
- Interest-free days. If you continue paying your account’s closing balance in full each month, you can make use of as many as 62 interest-free days on purchases.
- Foreign currency conversion fees. 1.5% of the transaction amounts for purchases and cash withdrawals.
- Free access to Coles Mobile Wallet. This smartphone app enables you to keep a track on your credit card balance, purchases, and flybuys points.
- PayPass and Coles Pay Tag. This PayPass enabled credit card allows you to make contactless payments for purchases less than $100, and you can also use the Coles Pay Tag technology to pay using your smartphone.
- Card security. The Falcon fraud management system is in place to identify and monitor the card of any unusual account activity. Mastercard Zero Liability Guarantee also provides protection against unauthorised and fraudulent transactions.
How to apply for the Coles Low Rate Mastercard
Applying for the Coles Low Rate Mastercard is easy and submitting an online application takes 10-15 minutes and you will usually receive a response within 60 seconds.
To apply for this card, complete and submit the secure online application form. However, make sure you meet the following eligibility criteria first:
- You’re a permanent Australian resident or have the right to work in Australia.
- You’re over 18 years of age.
- You have a good credit history.
- You earn more than $25,000 per year.
Completing the application requires you to provide the following personal information:
- Personal details like your complete name, date of birth, marital status, and number of dependents
- Contact details like your residential address, phone number, and email address
- Your employer’s name, address, and phone number
- Personal identification eg. Australian driver's license.
- Your current flybuys number (if you have one)
- Details about your existing financial situation (student benefits including Austudy and Youth Allowance do not qualify as income).
This Low Rate Mastercard offers cardholders a number of benefits and useful features. As it is not the only low rate card on the market, it’s good to compare the card with others before deciding.Back to top