Coles Platinum No Annual Fee Mastercard

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Earn flybuys points on everyday purchases and pay no annual fee with the Coles Platinum No Annual Fee Mastercard.

The Coles Platinum No Annual Fee Mastercard combines the benefits of a $0 annual fee credit card with platinum features. You can earn flybuys points as you spend which you can redeem for dollars off your next grocery shop at Coles. This card also offers 0% p.a. on balance transfers for the first 6 months when you apply and get approved by 31 December 2019, which could help you get existing debt under control.

0% p.a.

Balance transfer rate

for 6 months

19.99% p.a.

Purchase rate

0.5

Reward points

Per $ spent (Visa/Mastercard)

$0 p.a.

Annual fee

Details

Product NameColes Platinum No Annual Fee Mastercard
Rewards Programflybuys
Balance Transfer Rate0% p.a. for 6 months
Balance Transfer Revert RateCash Advance Rate (19.99% p.a.)
Balance Transfer Limit80% of available balance
Purchase Rate19.99% p.a.
Annual Fee$0
Interest Free Period55 days
Cash Advance Rate19.99% p.a.
Minimum Credit Limit$6,000
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

  • A $0 annual fee for the life of the card
  • Get up to 55 days interest-free days on purchases.

Cons

  • The earn rate of 0.5 flybuys points per $1 spent is low compared to other platinum cards.
Rewards Programflybuys
Rewards Points per $ spent (Visa/Mastercard)0.5
Annual Fee$0
Minimum Monthly Repayment100% of the closing balance outstanding
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 Fee5%
Overseas ATM Withdrawal Fee$5
Additional Cardholder Fee$0
Number of Additional Cardholders4

Expert review

Sally McMullen

Review by


Sally McMullen is Finder's credit cards and frequent flyer editor by day and a music maven by night. Her byline can be spotted on Yahoo Finance, Dynamic Business, Financy and Mamamia as well as Music Feeds and Rolling Stone.

Expert review

The Coles Platinum No Annual Fee Mastercard is suited to people who want to collect flybuys points beyond their supermarket shop. It offers a relatively modest earn rate without the restriction of a points cap. The introductory 0% balance transfer rate is another beneficial feature, but this is one of the shortest interest-free offers on the market.

This card offers the same features as the Coles No Annual Fee Mastercard but with a higher credit limit. Although you’ll save by paying no annual fee, it charges a relatively high purchase interest rate. To get the most value from your card, aim to pay your balance in full each month and take advantage of the interest-free days.

How to apply

You can get the Coles Platinum No Annual Fee Mastercard if you apply for the Coles No Annual Fee Mastercard and are approved for a credit limit of at least $6,000. You can apply online and receive a response within 60 seconds, but check if you meet the eligibility criteria and have the necessary information to complete the application first.

Eligibility criteria

  • Age. You must be at least 18 years old.
  • Income. You'll need to earn at least $25,000 to apply.

Card benefits

  • Balance transfer offer. You can repay existing credit card debt with 0% p.a. on balance transfers for 6 months when you apply and get approved by 31 December 2019. Any remaining balance will attract the 19.99% p.a. cash advance revert rate at the end of the introductory period. You can transfer up to 80% of your approved credit limit, but you won't earn flybuys points on your balance transfer transfer.
  • No annual fee. The card charges a $0 annual fee.

Rates & fees

  • Interest rate. This credit card charges an interest rate of 19.99% p.a. on purchases and cash advances.
  • Interest-free period. You can save with up to 55 days interest-free on purchases when you pay your balance in full by the statement due date.

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43 Comments

  1. Default Gravatar
    Daphne
    December 18, 2018

    Why was I told you have travel insurance attached to Coles Platinum Mastercard when after booking I find this appears not to be?

    • AvatarStaff
      Joshua
      December 20, 2018

      Hi Daphne,

      Thanks for getting in touch with finder. I’m sorry to hear about your situation.

      Upon checking and according to our page, Coles Platinum Mastercard does not come with complimentary travel insurance. You can confirm this by checking the first table on this page. I’m not sure who told you that this card comes with an insurance policy. Perhaps you might want to get back to your source and discuss this issue with them.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

  2. Default Gravatar
    Curious Bill Payer
    August 27, 2017

    Hi just wondering if the points are still earned if I use this card for direct debits and bpay bills only?

    • Default Gravatar
      Danielle
      August 28, 2017

      Hi there!

      Thank you for contacting finder. We are a comparison website and general information service, we’re more than happy to offer general advice.

      The following transactions will not earn any reward points: cash advances, credits, BPay payments, refunds, reimbursements, business purchases or balance transfers into the account. All other transactions including grocery purchases, online purchases, etc. will earn reward points at the rate of 0.5 points for every $1 spent.

      I hope this helps.

      Cheers,
      Danielle

  3. Default Gravatar
    Sarah
    June 14, 2017

    Hi! The coles financial services website indicated that there is Payment Handling Fee for payments made at Australia Post, Target or Kmart: of $2.25, which is not mentioned on finder.com.au. Does this mean that every transaction at the mentioned merchants will incur an additional processing fee?

    • Default Gravatar
      Jonathan
      June 14, 2017

      Hi Sarah!

      Thanks for the comment.

      Payment handling fee applies if you pay your balance or minimum due at Australian Post not for regular purchases, and their potential fees were given as a heads-up on our “Fees and Repayments” tab near “Find Out More” orange button on this page.

      These fees are regularly being updated and is internal agreement between the merchants involved and Coles Financial Services.

      You may contact the issuer directly about other payment methods for your convenience.

      Hope this clarifies.

      Cheers,
      Jonathan

  4. Default Gravatar
    David
    May 18, 2017

    We are retired and don’t have an income per se, but do have a credit card with NAB.

    We have sufficient assets that we receive only the Government
    subsidies and no actual age pension.

    Are we eligible to apply for a Coles No Fee Credit Card?

    • AvatarStaff
      Harold
      May 18, 2017

      Hi David,

      Thank you for your inquiry.

      In general, credit card providers requires you have a certain income to be eligible to apply for credit card. Unfortunately, if you don’t have stable source of income you may not be eligible to apply for this product.

      I hope this information has helped.

      Cheers,
      Harold

  5. Default Gravatar
    john
    April 29, 2017

    If I buy an airline ticket with my card, and pay in AUD, and the money is put in an overseas account, i.e. with British Airways, maybe UK, then will the card be charged as an overseas transaction?

    • AvatarStaff
      Dee
      May 1, 2017

      Hi John,

      Thanks for your question.

      If you will use your Coles Platinum No Annual Fee MasterCard to pay an overseas merchant or service provider, you’ll incur a Foreign Currency Conversion Fee of 2.5% of transaction value.

      Cheers,
      Anndy

  6. Default Gravatar
    Jim
    April 20, 2017

    I am a on an age pensioner with a part pension plus super which exceeds $25000 p.a. Does this qualify as far as income is concerned?

    • AvatarStaff
      Dee
      April 20, 2017

      Hi Jim,

      Thanks for your question.

      Coles considers Centrelink as a form of income. You’ll need to provide a pension statement when you apply for a Coles credit card.

      You may also check this page to compare other credit card brands that consider applicants receiving Centrelink payments.

      Cheers,
      Anndy

  7. Default Gravatar
    Anne
    March 28, 2017

    Does the Coles Platinum Mastercard cover travel insurance if the travel is purchased using the card?

    • AvatarStaff
      Harold
      March 28, 2017

      Hi Anne,

      Thank you for your inquiry.

      Unfortunately, with Coles Platinum No Annual Fee MasterCard there is no “Complimentary Travel Insurance Cover”. Should you need a credit card with travel insurance you may want to check this options.

      I hope this information has helped.

      Cheers,
      Harold

  8. Default Gravatar
    jeremy
    December 1, 2016

    Hi,

    I have previously been a customer of the Coles no annual fee mastercard. If I apply again, will I be eligible for the 0% on purchases?

    • AvatarStaff
      May
      December 1, 2016

      Hi Jeremy,

      Thanks for your question.

      Unfortunately, no. The offer for 0% p.a. interest for 15 months on purchases is for new customers only who have not held a Coles MasterCard before. Furthermore, this offer is only available to new card applicants who apply and are approved for a Coles No Annual Fee MasterCard between 5 October and 31 December 2016.

      Cheers,
      May

  9. Default Gravatar
    margaret
    November 9, 2016

    What is the difference between Coles Platinum No Annual Fee MasterCard and Coles No Annual Fee MasterCard?

    • AvatarStaff
      Dee
      November 9, 2016

      Hi Margaret,

      Thanks for your question.

      These two cards differ in the following features:

      Balance transfer rate
      Coles Platinum No Annual Fee MasterCard (100% of available limit)
      Coles No Annual Fee MasterCard (95% of available credit limit)

      Minimum credit card limit
      Coles Platinum No Annual Fee MasterCard – $6,000
      Coles No Annual Fee MasterCard – $500

      Gambling Transaction Allowed
      Coles Platinum No Annual Fee MasterCard – YES
      Coles No Annual Fee MasterCard – NO

      You can make a full comparison of the two cards by visiting Coles No Annual Fee MasterCard page.

      Cheers,
      Anndy

  10. Default Gravatar
    John
    October 7, 2016

    does my Coles Platinum mastercard cover rental car insurance? If yes, what is the excess cover

    • AvatarStaff
      Dee
      November 1, 2016

      Hi John,

      Thanks for your question.

      Unfortunately, Coles Platinum No Annual Fee MasterCard doesn’t come with rental car insurance.

      You may want to check this page to compare credit cards with car rental insurance cover.

      Cheers,
      Anndy

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