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Our verdict

Offers 75,000 bonus Flybuys points and earns points per $1 on eligible purchases you make anywhere, with a $99 annual fee.

The Coles Rewards Mastercard offers one of the highest earn rates among cards that are linked to the Flybuys program, earning up to 2 points per $1 on eligible spending. As an example of rewards, you can redeem 2,000 Flybuys points for $10 off at partnered stores or 1,000 Velocity Points if you're chasing frequent flyer rewards. That means the 75,000 bonus Flybuys points could get you $375 Flybuys Dollars to save on shopping at Coles, Kmart, Target and other partners or 37,500 Velocity Points.

If you're looking to switch from an existing credit card to this one, there's an introductory 0% interest rate on balance transfers for the first 6 months, with no balance transfer fee. Just keep in mind that there are longer balance transfer offers on the market, and you’ll typically get more value from a balance transfer when you focus on paying it off before making new purchases (to avoid interest charges).

Pros

75,000 bonus Flybuys points
0% p.a. on balance transfers for 6 months
2 Flybuys points per $1 spent on eligible purchases up to $3,000 per statement period (then 1 point per $1)
0% international transaction fees on purchases

Cons

Relatively high 19.99% interest rate for balance transfers after the introductory period
No interest-free days on purchases if you have a balance transfer

The Coles Rewards Mastercard offers 75,000 bonus points when you apply by 31 January 2024 and spend $3,000 in the first 90 days. It also earns 2 Flybuys points per $1 on eligible purchases up to $3,000 in a statement period, which drops to 1 point per $1 for the rest of that period. This is still a competitive earn rate compared to other rewards cards with similar annual fees, but it's worth thinking about how much you usually spend to decide how much value you'll get.

Details

Product details

Product Name	Coles Rewards Mastercard
Balance transfer rate p.a.	0% for 6 months, then 19.99%
Balance transfer limit	80% of available limit
Purchase rate p.a.	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	75,000
Rewards points per $ spent	2
Rewards points cap	Uncapped

Fees

Annual fee	$99
Minimum monthly repayment	2% of the closing balance or $30, whichever is greater
Late payment fee	$30
Foreign currency conversion fee	0%
Cash advance fee	3% or $1.95, whichever is greater
Overseas cash advance fee	$5 + 2.5% of transaction amount
Overseas ATM withdrawal fee	$5
Additional cardholder fee	$0
Number of additional cardholders	4

How to apply

You can apply for the Coles Rewards Mastercard online and receive a response within 60 seconds. Make sure to check if you meet the eligibility requirements and have the necessary information to complete the application before you get started.

Eligibility criteria

New cardholder. The bonus Flybuys points offer and balance transfer offer are only available to new customers.
Eligible balance transfer debt. If you want to transfer a balance to this card, you can transfer up to 80% of your available credit limit.

Residency. This card is available to permanent Australian residents.
Credit history. You'll need a good credit score to receive approval.
Age. You must be at least 18 years old.

Required documents

Personal information. This includes your full name, date of birth, contact information, residential address and number of dependents.
Proof of identification. You'll need to verify your identity with ID such as an Australian driver's licence or passport.
Income. You'll need to confirm your annual income and provide your employer's name, address and phone number.
Finances. You'll be asked to list any assets (such as savings, property or superannuation) and liabilities (including other debts and credit limits).
Flybuys membership. If you already have one, you can include your Flybuys membership number. If you're not already a member of the Flybuys program, you will be automatically enrolled when you apply.
Balance transfer details. If you are planning to transfer a balance, you'll 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.

Card benefits

75,000 bonus Flybuys points. If you're a new customer, you can get 75,000 bonus Flybuys points when you apply by 31 January 2024 and spend $3,000 on eligible purchases in the first 90 days from card approval. These points will be credited to your account within 4 weeks of meeting the spend criteria. You also need to include your Flybuys membership details on the application to be eligible for this offer.
Rewards program. You'll earn 2 Flybuys points per $1 spent on eligible purchases up to $3,000 per statement period, then 1 point per $1 for the rest of that statement period. You'll also get 1 additional point per $1 when you scan your Flybuys barcode at partner stores including Coles, Kmart, Target and Liquorland. Eligible purchases include most everyday spending, such as groceries, petrol and dining. Transactions that don't earn points include cash advances, balance transfers and account fees. See Finder's Flybuys guide for details on rewards and other features of the program.

0% international transaction fees on purchases. The Coles Rewards Mastercard does not charge international transaction fees on purchases when you shop overseas or online with an international merchant.
Balance transfer offer. This card offers a 0% p.a. interest rate on balance transfers for the first 6 months with no balance transfer fee when you apply by 31 January 2024. After the introductory period, any balance remaining will be charged interest at the cash advance rate, currently 19.99% p.a. But keep in mind that you won't earn Flybuys points on balance transfers and won't be eligible for interest-free days on purchases when you have a balance transfer.
Coles Mobile Wallet app. You can use this free app to manage your account and monitor your Flybuys points balance. The Coles suite of credit cards are also compatible with both Apple Pay and Samsung Pay.

Rates & fees

Annual fee. This card charges a $99 annual fee, which is competitive for a rewards card.
Interest rates. The interest rate for both purchases and cash advance transactions is 19.99% p.a.

Interest-free days. You can get up to 55 days interest-free on retail purchases with this card 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.

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Amy Finder

Editor

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Chris

November 04, 2023

I have a platinum card already, can I add the other card as a new customer?

Amy Bradney-George Finder

November 06, 2023

Hi Chris,

If you have a platinum Coles credit card, you won’t be eligible for this offer as it’s only available to new customers. If you have questions about your current credit card, you can contact Coles directly. You could also compare other rewards credit cards to your current card to decide if you want to apply for a new one. I hope this helps.

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stuart

October 08, 2023

Does this card give you status credits?

Amy Bradney-George Finder

October 08, 2023

Hi Stuart,

The Coles Rewards Mastercard doesn’t earn status credits. It earns Flybuys points per $1 spent. But if you link your Flybuys and Velocity Frequent Flyer accounts, you’ll earn 1 Velocity Status Credit for every $100 you spend at Coles, First Choice Liquor and Liquorland. This offer is through Flybuys and separate to the Coles Rewards Mastercard, although you could transfer points earned from this card to your Velocity account as well. I hope that helps.

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fdp

May 10, 2023

Hi,

When paying for utilities such as gas through AGL or say council rates, do these payments on the credit card still attract points?

Many thanks

Amy Bradney-George Finder

May 12, 2023

Hi fdp,

According to the terms and conditions for this card, paying council rates would not earn points, as it’s a government-related transaction. Paying utilities by BPAY also wouldn’t earn points. The terms and conditions for this card are available on the Coles Mastercard website and include a definition of eligible transactions that earn points and those that don’t. But they also note that it depends on how a transaction is processed. So if you want to earn points for a specific type of transaction, it’s a good idea to contact Coles Mastercard directly on 1300 306 397 or through the app. I hope that helps.

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adhil

April 17, 2023

hi,

Coles Rewards Mastercard: does this card have travel insurance included?

Sarah Megginson Finder

April 19, 2023

Hi Adhil,

No this card does not come with travel insurance.

However, the Coles Platinum Mastercard credit card does come with travel insurance – more info here:

https://www.finder.com.au/coles-source-account-cover-plus

Hope this helps.

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Donald

March 23, 2023

I am trying to apply for a Coles Credit Card from the Finder Site.It won’t take me to the correct page.Shall I go direct to the Coles site?

Amy Bradney-George Finder

March 23, 2023

Hi Donald,

You can currently apply for this card through Finder by using any of the “Find out more”, “Go to site” or “Go to Coles’s site” buttons on this review page. If you can’t view these buttons, you could apply directly through Coles. I hope that helps.

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Coles Rewards Mastercard

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