Coles Platinum No Annual Fee MasterCard – Rates and Fees

Information verified correct on December 11th, 2016
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Take advantage of an introductory offer of 0% for 15 months on purchases, earn flybuys points and pay no annual fee with the Coles Platinum No Annual Fee MasterCard.

The Coles No Annual Fee MasterCard lets you enjoy 0% p.a. for 15 months 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 Platinum 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 Limit100% of available credit limit
Maximum Balance Transfer AmountUp to your 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.
$6,000
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.
$6,000
Annual Fee$0 p.a.
Late Payment Fee$20
Cash Advance Fee3% of the cash advance/cash equivalent transaction or $1.95 - whichever is greater
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 AllowedYes
Gambling Transactions Interest RateCash Advance Rate
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.
  • 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 Platinum No Annual Fee MasterCard review

The Coles Platinum No Annual Fee MasterCard is a unique product that offers both a rewards program and zero annual fee. Giving you the opportunity to earn flybuys points on every dollar you spend on eligible purchases, this card could be a convenient way to get extra value from your purchases. Plus, with a promotional  interest rate on purchases, you can repay your balance without the burden of interest for the first  months. If you repay your balance in full, you could also look forward to 62 interest-free days on purchases.

Benefits of the Coles Platinum No Annual Fee MasterCard

  • No annual fee. The card comes with no annual fee which should help in minimising the maintenance cost of the card.
  • Introductory purchase rate offer. This card lets you enjoy 0% p.a. for 15 months on purchases if you apply and get approved by 31 December 2016. The introductory rate will revert to its standard purchase rate of 19.99% p.a. thereafter.
  • Coles Mobile Wallet. With the Coles Platinum 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.
  • Rewards program. This card earns 1 flybuys reward point for every $2 spent. These points are uncapped and will never expire as long as you register and earn or redeem points at least once every 12 months. This should help in accumulating the points over a longer period and using the points to purchase a coveted home appliance, electronic gadget or fund your next dream vacation.
  • 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.
  • 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.
  • Merchandise protection insurance. This insurance provides cover for items purchased on your card up to a maximum of $8,000 for all items (excluding any item bought for less than $10, pieces of jewellery, gift vouchers, traveller’s cheques, tickets, perishable items, used items, etc.) in a 12-month period.
  • International use. You can also use your MasterCard overseas. However, this may attract fees such as an international ATM fee and international transaction fee.
  • Apply for a balance transfer. A balance transfer can be requested at any time once your account is set up. A request can either be made through the Coles 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.

Coles Platinum No Annual Fee MasterCard features

  • Annual fee. As mentioned, the Coles Platinum No Annual Fee MasterCard has no annual fee. This is a lifetime zero annual fee and can assist you in saving over the life of your card.
  • Introductory purchase rate offer. If you apply and get approved by 31 December 2016, you can take advantage of 0% p.a. for 15 months on purchases. A standard rate of 19.99% p.a. applies after the promotion has ended.
  • Rewards program. The Coles Platinum No Annual Fee MasterCard is linked to the flybuys program. Earn 1 flybuys point for every $2 you spend. This is in addition to the usual flybuys points you receive from making purchases at Coles partners.
  • Free delivery at Coles online. Cardholders receive free delivery when they make purchases of over $100 at Coles' online shopping website.
  • Interest rate. This credit card has an interest rate of 19.99% p.a. on purchases and cash advances.
  • Interest-free period. The Coles Platinum No Annual Fee MasterCard provides up to 62 days interest-free, allowing you time to pay off your balance before interest will be charged.
  • Concierge services. Take advantage of 24/7 concierge service for assistance with booking travel tickets and events, locating restaurants, making hotel reservations, and much more.
  • Fraud protection. Falcon fraud management system identifies unusual activity and alerts through an SMS. Also, MasterCard Zero Liability Guarantee protects from fraudulent or unauthorised transactions.
  • Additional cardholders. You can get additional cards on the same account at no extra cost, which could come in handy to manage your household expenses under one account or to earn points faster with more than one cardholder's spending.

How to apply for the Coles Platinum No Annual Fee MasterCard

You can’t apply for this Platinum card offer directly, but anybody who applies for the Coles No Annual Fee MasterCard, and is approved for a credit limit of at least $6,000, will receive the Coles No Annual Fee Platinum MasterCard. Applying is easy and you can get a response in 60 seconds. To apply online, simply complete the online application form available on this page. Before you start, ensure you meet the following eligibility requirements.

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)

Coles Platinum No Annual Fee MasterCard provides reward points for the cost of zero annual fees. This card comes with other benefits like balance transfer offer, interest-free days on purchases, platinum concierge services, fraud protection and more. It offers competitive features and benefits for customers looking to earn reward points at a minimum cost.

As it isn't the only platinum rewards card on the market, though, make sure to compare your options before applying.

Frequently asked questions

What are the eligible transactions to earn reward points?

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 1 point for every $2 spent.

Is this card suitable for overseas travel?

Coles Platinum No Annual Fee MasterCard does not come with complimentary travel insurance which is the most sought after feature for overseas travellers. It also does not provide free foreign currency conversion.

Can I transfer balance from any credit card?

Balance transfer option is limited by the maximum credit limit on the account. In the case of this card, you cannot transfer balance from any other Coles MasterCard and a card issued by Latitude Financial Services.


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29 Responses to Coles Platinum No Annual Fee MasterCard – Rates and Fees

  1. 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?

    • Staff
      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

  2. Default Gravatar
    margaret | November 9, 2016

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

    • Staff
      Anndy | 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

  3. Default Gravatar
    John | October 7, 2016

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

    • Staff
      Anndy | 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

  4. Default Gravatar
    Anthony | July 27, 2016

    Does the card auto discount $10 once I accumulate 2000 fly buy points or do I have to log on to access this?

    • Staff
      May | July 28, 2016

      Hi Anthony,

      Thank you for your question.

      You can actually get the $10 off instantly at the checkout every time you redeem 2,000 flybuys points – that is when you shop at the Coles supermarkets and BI-LO. Please note that the discount excludes smoking/tobacco related product purchases, Coles Group gift cards and iTunes cards.

      Cheers,
      May

  5. Default Gravatar
    Maureen | June 12, 2016

    I am a current Coles platinum mastercard account holder. Please tell me more about the complementary product protection insurance for items purchased with this card.

    • Staff
      Ysa | June 15, 2016

      Hi Maureen,

      Thanks for your question.

      For a full information about the Coles MasterCard insurance benefits, please refer to page 46 (Merchandise Protection) of the PDF link I’ve forwarded to your email.

      I hope this helps.

      Cheers,
      Ysa

  6. Default Gravatar
    GREG | January 26, 2016

    do you post me monthly paper statements

    thank you

    • Staff
      Sharon | January 27, 2016

      Hi Greg,

      Thanks for your question.

      Just to confirm, you have come through to finder.com.au, not Coles. Your statements are mailed to your billing address every month. Your monthly statement is also available online via Online Service Centre.

      I hope this helps.

      Sharon

    • Staff
      Jonathan | January 27, 2016

      Hi Greg, thanks for your inquiry!

      Paper bills can be requested by calling Coles customer service centre on 1300 306 397. This service is available Mon-Fri 8.00am – 9.00pm AEST, Saturday 8.00am – 8.00pm AEST, Sunday 8.30am – 8.00pm AEST.

      Cheers,

      Jonathan

  7. Default Gravatar
    Viana | December 29, 2015

    I’m trying to use my credit card to withdraw money and in restaurants, but it has been declined numerous times even though I have credit?

    • Staff
      Debbie | December 29, 2015

      Hi Viana,

      Thank you for your inquiry.
      Please note that you’ve come through finder.com.au, an online comparison service and not Coles.

      To be able to assist you further, kindly speak directly to a Coles customer representative. They may be able to help you with the issue on your account.

      For a list of reasons why credit card transactions usually get declined, please refer to this page.
      I hope this helps.

      Cheers,
      Debbie

  8. Default Gravatar
    Rudi | August 24, 2015

    can you apply for a joint application, or additional cards?

    • Staff
      Jonathan | August 24, 2015

      Hi Rudi, thanks for your inquiry!

      Unfortunately Coles MasterCard does not support joint applications, although you can have up to 8 additional cardholders on this credit card with a $0 fee.

      Cheers,

      Jonathan

  9. Default Gravatar
    Sue | August 20, 2015

    Does Coles master card provide the international travel insurance like the other master card does when it is used to pay for the flights to overseas?

    • Staff
      Sally | August 21, 2015

      Hi Sue,

      Thanks for your inquiry.

      Unfortunately, Coles MasterCard does not offer complimentary overseas travel insurance.
      For a list of travel cards which provide this feature, you may want to check this page.

      I hope this has helped.

      Cheers,

      Sally

  10. Default Gravatar
    Paul | October 3, 2014

    Hi,
    Would Aged Pensioners be eligible for this card.

    • Staff
      Elizabeth | October 3, 2014

      Hi Paul,

      Thanks for the question.

      You’re able to apply for this card if you are an aged pensioner, as long as you are able to satisfy the minimum salary requirement of $15,000 p.a.

      Hope this has helped.

      Thanks,

      Elizabeth

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