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Balance transfer rate with no balance transfer fee: 19.99% p.a.
Bonus points: 20,000
Purchase rate for the first 6 months (reverts to 19.99%): 0% p.a.
Reward points per $ spent: 0.5

Our verdict

Offers 20,000 bonus Flybuys points and 0% interest on purchases for the first 6 months, but there’s a higher interest rate after that.

The Coles No Annual Fee Mastercard is one of the few credit cards offering both rewards and no annual fee. With the current offer of 20,000 bonus Flybuys points, you could save $100 on shopping at Coles, Kmart, Target and other partners by redeeming them for Flybuys Dollars. Or, convert them to 10,000 Velocity Points. You also earn the equivalent of 0.5 Flybuys points per $1 on eligible spending, even with brands that aren’t Flybuys partners. This card was highly commended in the 2023 Finder Awards Best No Annual Fee Credit Card category for its features. But it’s worth noting some other reward cards offer higher earn rates.

Right now, you can also save with 0% interest on purchases for 6 months when you apply by 31 January 2024. And with new Finder research showing the average Australian is planning to spend $1,479 over the Christmas season, this offer could save you a lot compared to paying with a credit card that charges interest. Just make sure to factor in the 19.99% p.a. interest rate that applies after that, because it could quickly add up if you’re still paying off purchases.

Pros

20,000 bonus Flybuys points
0% p.a. on purchases for 6 months
Ongoing $0 annual fee
Earn Flybuys points for your spending

Cons

Flybuys points earn rate is low at the equivalent of 0.5 points per $1 spent
19.99% p.a. interest rate on purchases after the introductory period
2.5% foreign transaction fee

The Coles No Annual Fee Mastercard gives you a way to earn points on your credit card spending without ever paying an annual fee. Its current introductory offer also gives you a way to earn more points and save on upcoming purchases. But remember to factor in the card’s potential costs, including the the 19.99% p.a. purchase rate that applies after the interest-free period ends.

Details

Product details

Product Name	Coles No Annual Fee Mastercard
Balance transfer rate p.a.	19.99%
Balance transfer limit	80% of available limit
Purchase rate p.a.	0% for 6 months, then 19.99%
Interest-free period	Up to 55 days on purchases
Cash advance rate p.a.	19.99%
Min credit limit	$1,000
Card type	Mastercard

Eligibility

Available to temporary residents	No
Joint application	No

Rewards

Rewards program	Flybuys
Bonus points	20,000
Rewards points per $ spent	0.5
Rewards points cap	Uncapped

Fees

Annual fee	$0
Minimum monthly repayment	2% of the closing balance or $30, whichever is greater
Late payment fee	$30
Foreign currency conversion fee	2.5%
Cash advance fee	3% or $1.95, whichever is greater
Overseas cash advance fee	$5
Additional cardholder fee	$0
Number of additional cardholders	4

How to apply

You can apply for the Coles No Annual Fee online and 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

New cardholder. The bonus points and purchase rate offers are only available to new customers.
Residency. You must be an Australian citizen or permanent resident.

Age. You must be at least 18 years old to apply.
Credit rating. You must have a good credit rating.
Eligible balance transfer debt. If you are planning to transfer a balance to the Coles No Annual Fee Mastercard, you can transfer up to 80% of your available credit limit.

Required documents

Personal details. This includes your full name, date of birth, contact number, email address, residential address and marital status. You also need to provide a valid form of ID, such as your driver's licence or passport.
Employment details. This covers your salary, job title, length of employment and your employer's contact details. You may also need to provide supporting documentation, such as recent payslips or your latest financial year income statement.
Financial details. This includes any government payments or other sources of income, as well as savings and assets. You also need to provide details of existing debts, loans and cards, along with regular household expenses including rent or mortgage payments and bills.
Balance transfer details. If you want to transfer a balance to this card, you need to provide details including the total amount of debt you want to transfer, your account name and number, as well as the BSB for the institution that currently holds the debt.
Flybuys details. You need to provide your existing Flybuys membership number to earn points and have your loyalty account details printed on the credit card. If you're not already a member of the Flybuys program, you will be automatically enrolled when you apply for the Coles No Annual Fee Mastercard.

Go to Coles' site More info

Card benefits

20,000 bonus Flybuys points. You'll get 20,000 bonus Flybuys points when you apply as a new customer and spend $3,000 on eligible purchases in the first 90 days from card approval. You also need to include your Flybuys membership details on the application to be eligible for this offer. The bonus points will be credited to your account within 4 weeks of meeting the spend criteria. This offer ends on 31 January 2024.
Purchase rate offer. You can make purchases interest-free with this card for the first 6 months when you apply by 31 January 2024. At the end of the introductory period, the purchase rate will revert to 19.99% p.a.

No annual fee ever. This card has an ongoing $0 annual fee.
Flybuys points. This card offers the equivalent to 0.5 Flybuys points per $1 on eligible purchases. Points are awarded in whole numbers and rounded down. Eligible purchases cover most everyday transactions including groceries, petrol and dining. Transactions that are not eligible for points include cash advances, balance transfers and account fees.
Flybuys membership details. You can use this card to earn points through your Flybuys account by scanning the membership barcode that's printed on the back of it when you shop with Flybuys partners. You can redeem Flybuys points for a variety of rewards including money off your shop at Coles Supermarkets and retail items. If you earn or redeem points at least once every 12 months, your Flybuys points will not expire.
Up to 55 interest-free days. Save on interest charges with up to 55 days interest-free on retail purchases when you pay the total outstanding balance (including any balance transfers) by the due date on each statement. Note that interest-free days are not offered for cash advances, balance transfers, special promotions or account fees and charges.
Mobile payment compatibility. Coles credit cards are compatible with both Apple Pay and Samsung Pay. The Coles Mobile Wallet also lets you manage your account and activate Flybuys offers at any time on the free app for Android or Apple devices.
Card security. The Coles Shield security service offers 24/7 account monitoring and alerts, while the Mastercard Zero Liability covers you against fraudulent transactions.

Rates & fees

Purchase rate. Outside of any promotions, the Coles No Annual Fee Mastercard charges an interest rate of 19.99% p.a. on purchases.
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 worth 3% of the 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.

Foreign currency conversion fee. A 2.5% fee applies for transactions made overseas or online in a foreign currency.
Additional cardholders. If you want to share your account with your partner or a family member to earn Flybuys faster, you can request up to 4 additional cards at no extra cost.

Go to Coles' site More info

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Coles No Annual Fee Mastercard

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