Coles Low Rate Mastercard

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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 NameColes Low Rate Mastercard
Rewards Programflybuys
Balance transfer rate (p.a.)0% p.a. for 6 months
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Cash Advance Rate (19.99% p.a.)
Balance Transfer Limit80% 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 55 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.
Card TypeMastercard
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.
2.5% of transaction value
Complimentary Travel InsuranceNo
Minimum Income$25,000
Minimum Age18 years of age
Available To Temporary ResidentsNo
Joint ApplicationNo
Annual fee$58 p.a.
Minimum Monthly Repayment100% (if <$30) or varies (if >$30)
Late Payment Fee$10
Cash Advance Fee$1.95 (if <$65.00) or 3% (if >$65.00)
Overseas Cash Advance Fee$5
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.
of transaction value
Additional Cardholder Fee$10
Number of Additional Cardholders4


  • Earn 0.50 flybuys points per $1 spent at Coles Supermarkets.
  • Receive up to 55 interest-free days on purchases.


  • An international transaction fee of 2.5% applies to all overseas retail purchases and cash advances.
Rewards Programflybuys
Rewards Points per $ spent (VISA/MC)0.5
Rewards Points per $ (VISA/MC) CapUncapped

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 55 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 cash advance rate (currently 19.99% p.a.) after the introductory 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 App. This free app for Android and iPhone allows you to manage your account and flybuys points 24/7.

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 55 interest-free days on purchases.
  • Foreign currency conversion fees. 2.5% of the transaction amounts for purchases and cash withdrawals.
  • Card security. Mastercard Zero Liability Guarantee 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:

Eligibility criteria

  • You’re a permanent Australian resident.
  • You’re over 18 years of age.
  • You have a good credit history.
  • You earn more than $25,000 per year.

Required documents

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.

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73 Responses

  1. Default Gravatar
    CrystalJuly 27, 2017

    Is there certain stores I can use it on or can I use my Coles MasterCard anywhere

    • finder Customer Care
      JhezelynJuly 28, 2017Staff

      Dear Crystral.

      Thanks for your comment.

      You’ll be able to use your Coles’ Low Rate Mastercard wherever Mastercard is accepted worldwide but just be aware you’ll be charged a 2.50% overseas transaction fee for all international purhcases and cash withdrawals, whether made in person or online. The card is also chip enabled so you can use the Mastercard PayPass functionality and “tap and go” for purchases under $100.


  2. Default Gravatar
    sadikshyaOctober 24, 2016

    Hi, as I already apply for my Coles credit card and it was approved but it’s already been like 3 weeks. I sent my details twice as asked but has not received any credit card yet. How can I track what’s happening?

    • finder Customer Care
      YsaOctober 25, 2016Staff

      Hi sadikshya,

      Thanks for your inquiry.

      If you have applied and haven’t received any feedback as of yet, it would be best to speak directly with a member of the Coles Customer Care team at 1300 306 397.

      For further information, you might also like to check our guide on how to track your credit card application status.

      I hope this helps.


  3. Default Gravatar
    September 14, 2016

    if i have a balance of $6000 on another credit card and want to transfer that to your coles credit card, how do we do that?

    • finder Customer Care
      SallySeptember 20, 2016Staff

      Hi Dan,

      Thanks for your question.

      Just to confirm, though, you have come through to, not Coles. However, you can still conduct the balance transfer to move your $6,000 debt to the Coles Low Rate MasterCard by clicking on the ‘Go to Site’ button and completing the online application.

      During the application, there will be a section dedicated to the balance transfer. Here you can nominate the account you’d like to balance transfer and provide the details of your debt (including the account it’s coming from and the size of the debt). Whether you can complete the balance transfer will also depend on which bank you’re transferring from. Please note that you can’t transfer balances from existing Coles credit card accounts or other accounts with Latitude Financial Services (such as 28 Degrees MasterCard). As you can transfer up to 100% of the available credit limit, you’ll want to make sure that you apply for a credit limit of at least $6,000.

      Please note that you’ll need to make sure that you meet the eligibility requirements, such as the minimum annual income, good credit history and residential status to receive approval.

      If your balance transfer is approved, it’ll be your responsibility to close your old account.

      For more tips, please see our guide on how to get your balance transfer application approved.

      I hope this has helped.



  4. Default Gravatar
    September 10, 2016

    I am self employed.Can I apply for credit card and what do i need?

    • finder Customer Care
      AllySeptember 21, 2016Staff

      Hi Steve,

      Thanks for your inquiry.

      You can apply for this card as long as you meet the application and minimum income requirements, which in this case is $25,000.

      Before you apply, however, you need to prepare your personal details (complete name, date of birth, marital status, number of dependents, residential address, phone number, and email address), financial details, as well as your current flybuys number, if you have one.

      I hope this has helped.


  5. Default Gravatar
    September 7, 2016

    Hi there,

    If I apply for the Coles low rates mastercard and apply for the “0% p.a for 6 months” balance transfer. After the first 6 months of the balance transfer ends, what will the interest rate revert back to?

    On the Coles website, it doesn’t specifically say what the interest rate would revert back to after the first 6 month period.

    Your assistance is much appreciated and I look forward to your reply.

    Thank you.

    • finder Customer Care
      MaySeptember 7, 2016Staff

      Hi Leo,

      Thanks for your question.

      For the Coles Low Rate MasterCard, your card will revert to the purchase rate of 9.99% p.a. after the balance transfer promotion period of 6 months. This information is also specified in the table above under Product Details section.


  6. Default Gravatar
    alanSeptember 2, 2016

    If you have a balance transfer of say $5000 on 0% for 6 months and make purchase of $ 500 do you pay any interest if paid in full on statement date if still within interest free time.

  7. Default Gravatar
    JenniferAugust 25, 2016

    1.How is interest calculated when payment missed by due date and do benefits get lost in any way please provide example worked out as experienced a $5 interest charge became $60.00 (approx) by a bank which included previous interest free balances as part of the calculation, despite those balances all being paid and the o/s balance being fully paid to excess after only 3 days. hence even staff can’t calculate interest payable. they tried but when challenged on how they calculated it was clear they didn’t know what they were doing because the bank ripped off interest on monies which were not, should not be included.
    2. and again on purchases how is interest calculated

    • finder Customer Care
      MayAugust 28, 2016Staff

      Hi Jennifer,

      Thank you for inquiry,

      The credit card interest is calculated depending on what card you have, the type of the transactions you make, and when you make the payments. This is calculated on your account’s outstanding balance on a daily basis.

      For instance, you make a purchase for $30 on the third day of your statement period. Interest is calculated on the $30 balance for each day from the date you made the purchase until it is repaid in full. Interest is then added daily to calculate your monthly interest amount.

      If you want to have a better understanding about the credit card interest charges, you might like to read this article and find it useful.


  8. Default Gravatar
    RiaAugust 24, 2016

    Hi, if I request a balanced transfer, do I still get the 65 days interest free on new purchases?

    Thank you

    • finder Customer Care
      LouAugust 25, 2016Staff

      Hi Ria,

      Thanks for your question.

      If you have a balance as a result of a balance transfer, you will not be able to take advantage of the interest-free period offer attached to Coles Low Rate MasterCard.


  9. Default Gravatar
    LeoJuly 22, 2016

    Hi there,

    Can you please check if the 0% p.a. for 6 months on balances transferred is still available on the coles low rate mastercard?

    On the coles financial website, it seems like only the other coles mastercard have the feature and coles low rate mastercard doesn’t.

    Please let me know.


    • finder Customer Care
      LouJuly 28, 2016Staff

      Hi Leo,

      Thanks for your question.

      I’ve checked Coles’ website and yes, Coles Low Rate MasterCard has a balance transfer interest rate of 0% p.a. for the first 6 months. After the promo period, the interest rate on any remaining balance transfer amount shall be 9.99% p.a.


  10. Default Gravatar
    KamalJune 8, 2016

    I have Coles low rate Master cord. If I spend $1000 dollar at the shop, how much interest will we pay, per $1000 dollar?

    • finder Customer Care
      MayJune 9, 2016Staff

      Hi Kamal,

      Thanks for your question.

      With Coles Low Rate MasterCard, the purchase interest rate that your card will charge is 9.99% per annum/year. But this rate is calculated daily and applied monthly to any purchases you make.

      The good thing is, if you have not conducted a balance transfer with this card, you will have the opportunity to enjoy the interest-free period of 62 days on purchases. This means that you will have 62 days to pay off your balance. Please keep in mind though that the requirement to receiving this interest-free period benefit is to repay your balance in full by the payment due date.

      I hope this helps.


Credit Cards Comparison

Rates last updated July 21st, 2018
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
Citi Clear Platinum - Exclusive Offer
14.99% p.a.
0% p.a. for 24 months with 1.5% balance transfer fee
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
finder Exclusive: Receive 0% p.a. for 24 months on balance transfers and a discounted annual fee in the first year. Plus, access to Citi World Privileges.
American Express Westpac Altitude Platinum Bundle - Exclusive Offer
20.24% p.a.
$0 p.a. annual fee for the first year ($199 p.a. thereafter)
$0 first year annual fee & up to 90,000 bonus Altitude Pts when you meet T&C with this Visa (issued by Westpac) & Amex (issued & serviced by Amex).
NAB Low Fee Platinum Card - Exclusive Amazon Offer
19.74% p.a.
0% p.a. for 24 months with 2% balance transfer fee
$90 p.a.
finder Exclusive: 10% cashback with for 12 months (capped at $25 per month). Plus, 0% p.a. on balance transfers for 24 months.
Qantas Premier Everyday
19.99% p.a.
4.9% p.a. for 24 months
$0 p.a. annual fee for the first year ($49 p.a. thereafter)
Take advantage of up to 40,000 bonus Qantas Points, a $0 first year annual fee plus complimentary overseas travel insurance.

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* The credit card offers compared on this page are chosen from a range of credit cards has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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