Coles No Annual Fee MasterCard Review

Information verified correct on December 11th, 2016
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The Coles No Annual Fee MasterCard includes an introductory purchase offer of 0% p.a. for 15 months, up to 62 days interest-free on purchases and no annual fee ever.

The Coles No Annual Fee MasterCard lets you enjoy 0% p.a. for 15 months offer on purchases if you apply and are approved by 31 December 2016. You’ll also earn 1 flybuys point for every $2 spent on the card which you can redeem for dollars off your next grocery shop at Coles. This card also features a $0 annual fee for the life of the card.

Product NameColes No Annual Fee 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.
Purchase Rate (19.99% p.a.)
Balance Transfer Limit95% of available credit limit
Purchase rate (p.a.)0% p.a. for 15 months (reverts to 19.99% p.a.)
Offer end date31 December 2016
Annual fee$0 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 62 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.
$500
Minimum Monthly Repayment2.22% or $10 (whichever is greater)
Minimum Income$25,000
Card TypeMasterCard
Late Payment Fee$20
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
Available To Temporary ResidentsNo
Joint ApplicationNo
Minimum Income$25,000
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
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.
$500
Annual Fee$0 p.a.
Minimum Repayment2.22% or $10 (whichever is greater)
Late Payment Fee$20
Cash Advance Fee3% of the cash advance/cash equivalent transaction or $1.95 - whichever is greater
Overseas Cash Advance Fee$2.50
Overseas ATM Withdrawal Fee$4
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
Gambling Transactions AllowedNo
Additional Cardholder Fee$0 p.a.
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchNo
MailYes

Pros

  • 0% p.a. for 6 months on balance transfers
  • $0 annual fee on the life of the card
  • Get up to 62 interest-free days
  • Earn 0.5 flybuys point per dollar spent

Cons

  • A fee of $20 for late payment will be charged.
  • 0.5 per dollar spend earning rate is bit low than the other cards in the market.
  • Your cash advances are subject to a 3% fee of the cash advance amount.
Rewards Programflybuys
Rewards Points per $ (VISA/MC)0.5
Rewards Points per $ (AMEX)0
Rewards Points per $ (VISA/MC) CapUncapped
Rewards Points per $ (AMEX) CapN/A
Points ExpiryNever

Coles No Annual Fee MasterCard review

The No Annual Fee MasterCard combines the features of a flybuys loyalty card and a MasterCard credit card. It has no annual fee, comes with a promotional purchase rate offer and allows you to earn 1 flybuys point for every $2 spent. Plus, with up to 62 interest-free days, free delivery with Coles online and discounts at the supermarket, there are plenty of ways to save with this card. Use this review to weigh up the features, fees and benefits of the Coles No Annual Fee MasterCard.

Benefits of the Coles No Annual Fee MasterCard

  • No annual fee. The Coles No Annual Fee MasterCard has a $0 annual fee.
  • Introductory purchase rate offer. This card offers a 0% p.a. for 15 months on purchases if you apply and get approved by 31 December 2016. After the promotion has ended, the purchase rate will revert to the standard purchase rate of 19.99% p.a.
  • Earn flybuys points. Earn 1 flybuys point for every $2 you spend on eligible purchases. 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. If you earn or redeem points at least once every 12 months, your flybuys points do not expire.
  • Enjoy $10 off at Coles Supermarkets. Enjoy $10 off at any Coles Supermarket after redeeming 2,000 flybuys points, excluding smoking/tobacco related product purchases, all gift cards.
  • Up to 62 interest-free days. Earn up to 62 days interest-free on purchases when you pay the full balance off each month. Interest-free days do not apply if you’re carrying a balance from month to month, like when transferring a balance to a credit card under a balance transfer promotion.
  • Free delivery when you order from Coles Online. Receive free delivery on your orders from Coles online when you spend $100 or more with your Coles MasterCard from the online store. Offer can be withdrawn at any time. Offer excludes tobacco and tobacco related purchases and remote delivery orders.

Coles No Annual Fee MasterCard features

  • Coles Mobile Wallet. With the Coles No Annual Fee MasterCard, you can pay and collect flybuys points with your phone. This also allows you to keep track of your purchases with ease.
  • Additional cardholders. Additional cards can be issued to applicants over the age of 16 for $0 each. Earn flybuys points faster by adding an additional cardholder to your account.
  • Card fraud protection. MasterCard Zero Liability Guarantee gives you a money back guarantee if you’re the victim of card fraud.
  • Paypass payment technology. MasterCard Paypass enabled. Tap your card against the contactless terminal for purchases under $100.
  • Online account management and Coles Mobile Wallet. Card holders can manage your account and pay bills through the mobile app or online. This creates an easy way to manage your finances, check balances and view all your account information securely.
  • Apply for a balance transfer. You can apply for balance transfer upon request once your account is set up. A request can either be made through the Coles MasterCard Customer Care team or by filling in a balance transfer request via the Balance Transfer PDF available on the Coles MasterCard website. The balance transfer promotional rate is subject to the current offer available at the time and can take up to 15 working days to be processed.

How to apply for the Coles No Annual Fee MasterCard

The online application only takes ten to fifteen minutes to complete and you should receive a response within a few minutes of submitting your application. Before you apply though, make sure you've met the following eligibility requirements and organised the necessary documents:

Application criteria

  • Applicant is 18 years or older
  • Earn more than $25,000 p.a.
  • Have the right to work in Australia

Required documents

  • Details of your income and employment
  • Personal identification i.e. Australian driver’s license
  • Your current flybuys number (if you have one)

The Coles No Annual Fee MasterCard is a competitive product that offers many ways to save on standard card costs. As this isn't the only no annual fee credit card on the market, make sure to compare your options before applying.

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659 Responses to Coles No Annual Fee MasterCard Review

  1. Default Gravatar
    Karen | November 25, 2016

    Hi there
    I have a Coles No Annual Fee card. Does this include Travel Insurance when flights are purchased with this card?

    Thanks
    Karen

    • Staff
      Harold | November 25, 2016

      Hello Karen,

      Unfortunately, “Coles No Annual Fee MasterCard” has no inclusion of travel insurance. For your other options about credit cards with travel insurance please click this page to review their offer.

      I hope this information has helped.

      Cheers,
      Harold

    • Default Gravatar
      Karen | November 25, 2016

      Thanks Harold. That was helpful.

      Kind regards,
      Karen

  2. Default Gravatar
    B | November 24, 2016

    Hi,

    What is the min and max limit on this card?

    Thanks

    • Staff
      May | November 24, 2016

      Hi BS,

      Thanks for your question.

      The minimum credit limit that you can be approved for the Coles No Annual Fee MasterCard is $500, however, for the maximum credit limit, this will be determined by Coles depending on their assessment of your financial position, credit rating, and overall ability to repay.

      Hope this has answered your question.

      Cheers,
      May

  3. Default Gravatar
    qing | November 6, 2016

    Does the coles no fee credit card offer complimentary travel insurance if I pay the travel cost by this card? I earn less than $25,ooo/year,which isn’t enough to meet the criteria.But I have a NAB VISA card. Can I transfer the NAB card to coles no fee master card without the criteria of $25,000 income?

    • Staff
      May | November 10, 2016

      Hi Qing,

      Thanks for your questions.

      1. Does the Coles no fee credit card offer complimentary travel insurance if I pay the travel cost by this card?
      Unfortunately, complimentary travel insurance is not among the benefits of the Coles No Annual Fee MasterCard. The credit cards that have complimentary travel insurance benefits are found on this page.

      2. I earn less than $25,000/year, which isn’t enough to meet the criteria. But I have a NAB VISA card. Can I transfer the NAB card to Coles no fee master card without the criteria of $25,000 income?
      To apply for the balance transfer, you must go through the card application process, which means that you’ll need to get approved by meeting the eligibility criteria of the card, which for this Coles No Annual Fee MasterCard, you will need to meet the income criteria of $25,000 per annum. With that, the balance transfer will only be accepted if you’re approved for the card when you apply.

      Cheers,
      May

  4. Default Gravatar
    Nathan | October 23, 2016

    My wife already has a Coles Premium Card. I am an additional card holder. Am I eligible to apply to be the primary card holder of the No Annual Fee Mastercard and be able to use the 15 months interest free on purchases offer?
    Many thanks

    • Staff
      Anndy | November 3, 2016

      Hi Nathan,

      Thanks for your question.

      If you have not been a primary cardholder for Coles Premium Card, you should be able to apply and qualify to receive the promotional offer attached to Coles No Annual Fee MasterCard, provided you meet the eligibility criteria.

      Cheers,
      Anndy

  5. Default Gravatar
    Koos | October 20, 2016

    I want to load money onto this credit card to use overseas. I’m not planning on using more than what I put in. What fees will I be paying for loading money and withdrawing it.

    • Staff
      Jason | October 20, 2016

      Hi Koos.

      Thank you for your inquiry.

      There will be no fees for loading money or cash in this card but you might incur some fee if used overseas such as the Overseas Cash Advance Fee, Overseas ATM Withdrawal Fee and Foreign Currency Conversion Fee. Please check this link for the amount of the said fees.

      Cheers,
      Jason

  6. Default Gravatar
    Sharon | October 17, 2016

    How do you make payments on the Coles credit card?

    • Staff
      Harold | October 17, 2016

      Hello Sharon,

      Thanks for your question. With regards to your concern, if you are currently an account holder of the Coles Credit Card and referencing about the payment procedure. This article will guide you to the proper payment process.

      Cheers,
      Harold

  7. Default Gravatar
    Doug | October 11, 2016

    How long once approved will it take for you to get your card and start using it?

  8. Default Gravatar
    Samira | August 25, 2016

    I have applied online for No Annual fee Credit Card, it was @ 15 days ago and until now I’ve not received any answer from you
    Please, I need to know whether it was approved or not
    Your prompt reply will be deeply appreciated

    • Staff
      May | August 28, 2016

      Hi Samira,

      Thank you for your question. Just to confirm though that you’ve come through to finder.com.au — we are an Australian financial comparison website and general information service, not actually Coles.

      On the average, most banks or credit card companies process applications within 1-2 weeks. If you wish to get the status of your application, I suggest that you contact Coles directly on the contact details that are listed on this page. Also, on the same page, you can find our tips on how you can check your credit card application.

      Hope this has helped.

      Cheers,
      May

  9. Default Gravatar
    | August 19, 2016

    How long before we know if the application for Coles No Annual Fee Mastercard is successful or not?

    • Staff
      Anndy | August 22, 2016

      Hi Patrick,

      Thanks for your question.

      If you applied for Coles No Annual Fee MasterCard online, according to Coles website, you should be able to get a response in about 60 seconds after you have submitted your application.

      Coles MasterCard will send you an email letting you know whether your application has been approved, conditionally approved or declined. Once your application has been received, it should only take five to ten days before you have your card.

      Cheers,
      Anndy

  10. Default Gravatar
    kat | August 13, 2016

    Hi there
    I have a debt of $6,000.- on a different credit card. I would like to apply and use the Coles mastercard with the no annual fee to pay off my debt as your coles credit card offer 0% annual fee and 0% fee on transfer. Have chosen the right credit card?
    Many thanks

    • Staff
      May | August 13, 2016

      Hi Kat,

      Thank you for your inquiry.

      When choosing the right balance credit card, it’s always important to consider how this tie into your financial situation. Unfortunately, as finder.com.au is a comparison website, we may not be able to provide a personal advice.

      Nevertheless, if you find that this Coles No Annual Fee MasterCard suits best to your financial circumstance, you can review the criteria and requirements then click on the ‘Go to site’ button above to head over to the Coles’ website and apply.

      Aside from Coles, if you haven’t yet, you may also like to check this page to compare other no annual fee and 0% interest balance transfer fee credit cards.

      I hope this helps.

      Cheers,
      May

Credit Cards Comparison

Rates last updated December 11th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
NAB Low Rate Credit Card
The NAB Low Rate Card offers 0% p.a. on purchases and balance transfers for 15 months. This card also comes with a low annual fee.
0% p.a. for 15 months (reverts to 13.99% p.a.) 0% p.a. for 15 months with a one off 3% balance transfer fee $59 p.a. Go to site More info
HSBC Platinum Qantas Credit Card
Receive 60,000 bonus Qantas Points on eligible spend within 3 months. Enjoy access to premium benefits and complimentary insurance.
19.99% p.a. $199 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au 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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