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Coles No Annual Fee Mastercard

Amy Bradney-George
Amy Bradney-George
Last updated:  

Enjoy 0% p.a. on purchases and balance transfers for the first 12 months and get rewarded as you spend.

The Coles No Annual Fee Mastercard charges a $0 annual fee for life and earns 1 flybuys point per $2 spent on eligible purchases.

0% p.a.

Balance transfer rate

for 12 months

0% p.a.

Purchase rate

for the first 12 months (reverts to 19.99% p.a.)

0.5

Reward points

Per $ spent (Visa/Mastercard)

$0 p.a.

Annual fee

Details

Product NameColes No Annual Fee Mastercard
Rewards Programflybuys
Balance transfer rate0% p.a. for 12 months
Balance Transfer Revert RateCash Advance Rate (19.99% p.a.)
Balance Transfer Limit80% of available balance
Purchase rate (p.a.)0% for 12 months, reverts to 19.99% p.a.
Annual fee$0 p.a.
Interest Free Period55 days
Cash advance rate (p.a.)19.99% p.a.
Min credit limit$2,000
Card TypeMastercard
Foreign Currency Conversion Fee (Visa/Mastercard)2.5% of transaction value
Complimentary Travel InsuranceNo
Minimum Income$25,000
Minimum Age18 years of age
Available to Temporary ResidentsNo
Joint ApplicationNo

Pros

  • 0% p.a. on purchases for the first 12 months
  • 0% p.a. on balance transfers for the first 12 months, with no balance transfer fee
  • Ongoing $0 annual fee

Cons

  • Interest rate that applies after the introductory period is relatively high
  • flybuys points earn rate is low at 0.5 points per $1 spent
Rewards Programflybuys
Rewards Points per $ spent (Visa/Mastercard)0.5
Rewards Points per $ Cap (Visa/Mastercard)Uncapped
Annual fee$0 p.a.
Minimum Monthly Repayment2% of the closing balance or $30, whichever is greater
Late Payment Fee$30
Foreign Currency Conversion Fee (Visa/Mastercard)2.5% of transaction value
Cash Advance Fee3% or $1.95, whichever is greater
Overseas Cash Advance Fee$5
Additional Cardholder Fee$0
Number of Additional Cardholders4

Expert review

Amy Bradney-George

Review by

Amy is an editor and writer at finder.com.au with more than 10 years experience covering credit cards, personal finance and various lifestyle topics. When she’s not sharing her knowledge on money matters, Amy spends her time as an actress.

Expert review

The Coles No Annual Fee Mastercard is one of few credit cards that offer both rewards and an ongoing $0 annual fee. With this card, you earn the equivalent of 0.5 flybuys points per $1 spent on eligible purchases made anywhere the card is accepted. This gives you a way to earn points when you shop with brands that aren’t already flybuys partners – although it’s worth noting that some other reward cards offer higher earn rates.

How to apply

If you want to apply for a Coles No Annual Fee Mastercard, you can fill in a secure application form via the Coles Financial Services website and should get a response within 60 seconds of submitting it. Before you get started, make sure you meet the eligibility criteria and have all the details you need to complete the application.

Eligibility criteria

  • Minimum income. You must earn at least $25,000 per year.
  • Eligible balance transfer debt. If you are planning to transfer a balance to this card, you can transfer up to 80% of your available credit limit from Australian accounts not issued by Citigroup.

Card benefits

  • 0% p.a. on purchases. You can enjoy interest-free purchases for the first 12 months when you apply for this card by 31 January 2020. Note that minimum monthly repayments will still apply during this time. At the end of the introductory period, any remaining balance from purchases will attract the card's variable purchase rate of 19.99% p.a.
  • Balance transfer offer. Get 0% interest on balance transfers for the first 12 months when you apply by 31 January 2020. Any balance remaining at the end of the introductory period will be charged interest at the variable cash advance rate, currently 19.99% p.a. Note that you won't be eligible for interest-free days on purchases when you have a balance transfer.

Rates & fees

  • Purchase rate. The Coles No Annual Fee Mastercard charges an interest rate of 19.99% p.a. for purchases, which is similar to other rewards credit cards.
  • Cash advances. If you use this card to withdraw cash or make other cash advance transactions, an interest rate of 19.99% p.a. will apply. A cash advance fee of 3% of transaction amount or $1.95 (whichever is greater), will also apply in Australia, and a fee of $5 applies if you make a cash advance overseas.
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