Coles Low Rate Mastercard

With the Coles Low Rate Mastercard, you can enjoy a 0% p.a. interest rate on balance transfers for 6 months and a competitive annual fee.

The Coles Low Rate Mastercard offers an introductory 0% p.a. interest rate on balance transfers for up to 6 months and a low 12.99% p.a. purchase interest rate.

This credit card also comes linked to the flybuys loyalty program, which allows you to earn points when you shop at Coles Supermarkets.

Product NameColes Low Rate Mastercard
Rewards Programflybuys
Balance transfer rate0% p.a. for 6 months
Balance transfer revert rate
The interest rate that will apply to any remaining balance after the balance transfer term ends.
Cash Advance Rate (19.99% p.a.)
Balance Transfer Limit80% of available credit limit
Purchase rate (p.a.)12.99% p.a.
Offer end date30 June 2019
Annual fee$58 p.a.
Interest Free Period
The interest-free period is the maximum number of days during which interest is not charged on new purchases. This only applies if you pay your closing balance in full by the statement due date.
Up to 55 days on purchases
Cash advance rate (p.a.)19.99% p.a.
Min credit limit
This is the lowest credit limit you can be granted. It is possible to request a higher credit limit but not a lower one than this figure.
Card TypeMastercard
Foreign Currency Conversion Fee (MC)
Charged when you make a transaction that is converted by Mastercard 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$30
Foreign Currency Conversion Fee (MC)
Charged when you make a transaction that is converted by Mastercard 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
Cash Advance Fee$1.95 (if <$65.00) or 3% (if >$65.00)
Overseas Cash Advance Fee$5
Overseas ATM Withdrawal Fee$5
Additional Cardholder Fee$0
Number of Additional Cardholders4


  • New cardholders receive $100 off a single Coles Supermarket shop when they make a purchase within 30 days.
  • Apply by 30 June 2019 and enjoy 0% p.a. on balance transfers for the first 6 months.
  • Earn 0.5 flybuys points per $1 spent at Coles Supermarkets.
  • Competitive 12.99% p.a. purchase interest rate


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

Benefits of Coles Low Rate Mastercard

  • $100 off a single Coles Supermarket shop. To take advantage of this offer, you'll need to apply as a new customer by 30 June 2019 and make a purchase (excluding cash advances) within the first 30 days. The $100 off will be activated on your flybuys account and will be available to use on a single shop within 3 weeks of your first purchase.
  • Balance transfer offer. Apply by 30 June 2019 to enjoy 0% p.a. interest on balance transfers for up to 6 months. You can transfer up to 80% of your available credit limit and any balance remaining at the end of the introductory period will accrue interest at the variable cash advance rate, currently 19.99% p.a.
  • Low interest rate. The Coles Low Rate Mastercard offers a 12.99% p.a. variable interest rate on purchases and up to 55 days interest free when you pay your balance in full every month.
  • Points per $2 spent at Coles. This card offers you flybuys points when you use it to shop at Coles Supermarkets, earning the equivalent to 0.5 points for every $1 spent. Note that points are awarded in whole numbers and are rounded down. So, you would need to spend at least $2 at Coles to earn flybuys points through this card.
  • flybuys membership card. The Coles Low Rate Mastercard can also double as your flybuys membership card, so you don't have to carry two separate cards. Instead, you can scan the flybuys membership barcode that's printed on the back of your credit card when you shop with flybuys partners, which allows you to earn points directly through the flybuys program. You can redeem points for money off your shop at Coles, Velocity Frequent Flyer Points and a variety of other rewards available on the flybuys website. If you earn or redeem points at least once every 12 months, your flybuys points do not expire.
  • 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 an 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. This credit card charges 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, 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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75 Responses

  1. Default Gravatar
    AjayAugust 1, 2018

    I have applied my Coles low rate master card. I have don application online . It is submitted but not any application reference number I got it and don’t know status of my application.

    • Default Gravatar
      JoelAugust 1, 2018

      Hi AJ,

      Thanks for leaving a question on finder.

      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.


  2. 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
      JhezJuly 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.


  3. 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.


  4. 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.



  5. 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.


  6. 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.


  7. 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.

  8. 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.


  9. 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.


  10. 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.


Credit Cards Comparison

Rates last updated April 24th, 2019
Name Product Purchase rate (p.a.) Balance transfer rate Annual fee Product Description
Citi Clear Platinum Credit Card
12.99% p.a.
0% p.a. for 14 months
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers a long-term balance transfer and $0 first year annual fee. Plus, insurance covers and Citibank Dining Program perks.
HSBC Platinum Credit Card
19.99% p.a.
0% p.a. for 22 months
$129 p.a.
0% p.a. for 22 months on balance transfers with no BT fee. Plus, a yearly annual fee refund when you spend $6,000 and 2 lounge passes per year.
Virgin Australia Velocity Flyer Card - Annual Fee Offer
20.74% p.a.
0% p.a. for 18 months
$50 p.a.
Earn 20,000 bonus Velocity Points and save with an ongoing $50 p.a. annual fee. Plus, receive a $129 Virgin Australia Gift Voucher each year.
Latitude Low Rate Mastercard
11.99% p.a.
$69 p.a.
Offers a competitively low interest rate and annual fee, plus up to 55 interest-free days on purchases.

Compare up to 4 providers

* 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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