In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
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Coles No Annual Fee Mastercard
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Terms and conditions apply
Balance transfer rate with no balance transfer fee
19.99% p.a.
Bonus points
Purchase rate for the first 6 months (reverts to 19.99%)
0% p.a.
Reward points per $ spent

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.


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


  • 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

In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews

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.


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


Available to temporary residents No
Joint application No


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


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.

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.

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.

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