Coles Rewards MasterCard – Rates & Fees

Information verified correct on December 9th, 2016
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Earn flybuys points, pay no international transaction fees on purchases, and get free delivery when you shop at Coles online.

You’ll earn flybuys points quicker with 2 points for every $1 you spend on the Coles Rewards MasterCard. This is in addition to flybuys points that are earned with flybuys partners. The Coles Rewards MasterCard also features a low annual fee of $89 and now offers no foreign transaction fees for overseas and online purchases, which makes it a worthy companion to help save on fees when travelling overseas.

Coles also offer a Platinum MasterCard for those who qualify for a credit limit over $6,000. This includes additional benefits such as 24 hour concierge services and Purchase Protection Insurance.

Product NameColes Rewards 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.)19.99% p.a.
Annual fee$89 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 Repayment2.222% 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.
0% 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$89 p.a.
Minimum Repayment2.222% 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.
0% 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

  • You can enjoy an interest-free period of 62 days.
  • This card allows you to add an additional cardholder at no extra charge.
  • This card is also covered by Falcon security system to protect your account information.

Cons

  • $20 charge applies for late payment.
Rewards Programflybuys
Rewards Points per $ (VISA/MC)2
Rewards Points per $ (AMEX)0
Rewards Points per $ (VISA/MC) CapUncapped
Rewards Points per $ (AMEX) CapN/A
Points Expiry12 months

Coles Rewards MasterCard review

The Coles Rewards MasterCard is an excellent choice if you shop at a Coles Supermarket or at any flybuys partners. The ability to accumulate 2 points for every $1 spent can offset the $89 annual fee if the card is used regularly. Points add up quickly and you can receive $10 off a Coles Supermarket purchase when you redeem 2,000 points, saving you money. The card, with no foreign transaction fees, could also be of value to regular globetrotters too! The Coles MasterCard also offers up to 62 days interest-free on purchases as long as the balances are paid off each month by the due date.

Benefits of the Coles Rewards MasterCard

The Coles Rewards MasterCard comes with its share of benefits, and here’s what you can look forward to as a cardholder:

  • No international transaction fees. When you use a typical Australian credit card to make purchases overseas or on international websites, you would usually have to pay international transaction fees for every such transaction. With the Coles Rewards MasterCard, you don’t have to worry about paying this fee when you use your card for any eligible international purchase.
  • Rewards program. The flybuys loyalty program is amongst Australia’s most popular, and it gives you different options when it comes to redeeming your accumulated points. The Coles Rewards MasterCard offers 2 flybuys points per $1 spent. Enjoy $10 off any Coles Supermarket shop after redeeming 2,000 flybuys points. Eligible purchases exclude smoking or tobacco related product purchases, Coles Group gift cards and iTunes cards. Cardholders can redeem points for a range of merchandise spread across categories like home and garden, fashion, technology, travel, and lifestyle. If you earn or redeem points at least once every 12 months, your flybuys points do not expire.
  • Card security. Falcon fraud management system monitors account activity and keeps an eye out for suspicious transactions. MasterCard’s zero liability policy works in providing that added peace of mind.
  • Balance transfer offer. A balance transfer can be requested once your account is set up (your card must be linked to your online account). Once your card is linked to your online account 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.

Features of the Coles Rewards MasterCard

The Coles Rewards MasterCard comes with a number of features, including:

  • Earn flybuys points. Earn 2 flybuys points per dollar spent when you make an eligible purchase on the card.
  • No international transaction fees on purchases. Cut costs by paying no international transaction fees on purchases made online and overseas.
  • Annual fee is $89. The Coles Rewards MasterCard annual fee is charged on the date of your first purchase and on every year afterwards.
  • Security & fraud protection. Every Coles MasterCard includes fraud protection with the Falcon fraud management system and MasterCard zero liability guarantee. This benefit provides you with peace of mind knowing you are covered if unauthorised purchases are made on the card.
  • MasterCard PayPass. Tap and go at the checkout to pay for purchases under $100. For purchase amounts over $100, you’ll need to key in your PIN number. This provides faster checkouts and a greater level of convenience when making small purchases.
  • Free Delivery on Coles online. This applies to any single purchase from Coles online when you spend $100 or more with your Coles Rewards MasterCard, saving you time and money. The offer can be withdrawn at any time and excludes tobacco and tobacco related purchases and remote delivery orders.
  • Up to 62 interest-free days. Coles Rewards MasterCard offers free interest for up to 62 days as long as the balance is paid in full each statement cycle. This allows you to use the card and earn valuable points without paying any interest on purchases.
  • Online account management and Coles Mobile Wallet. You 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.

How to apply for the Coles Rewards MasterCard

Applying for the Coles Rewards MasterCard is easy. You can apply for this credit card by completing and submitting the secure online application. Before you do, make sure you meet the following eligibility criteria:

Eligibility criteria

  • You’re at least 18 years old
  • Be a permanent Australian resident or you must have permission to stay in Australia for at least 12 months
  • You don’t have poor credit rating
  • Must have after tax income of at least $25,000 p.a.

Required documents

  • Your complete name, date of birth, relationship status, and number of dependents
  • Your email address, phone number, residential address, and residential status
  • Your employer’s name, address, and phone number
  • Details of your income from all sources
  • Details about your expenses, which include all outstanding debts

Anyone who frequently shops at Coles can benefit by getting the Coles Rewards MasterCard, but you should establish at the onset if you’ll make more through rewards than the $89 you end up paying in annual fees. Being able to redeem your flybuys points when you shop at Coles is a definite plus, as is the fact that you can get free delivery through Coles online. What also helps is that you can get up to 62 interest free-days on purchases. Bear in mind, though, that this is not the only Coles credit card, so compare your options well before you apply.

Frequently asked questions

How quickly do flybuys points get to my account?

When you shop through Coles’ major retail partners, your flybuys points should get to your account within a day or two. In other instances, the process can take around a week.

If I don’t want to redeem my flybuys points at Coles, what do I have to do?

You can also redeem your points for flybuys Dollars at Coles Express, Target, Kmart, Kmart Tyre & Auto Service, Liquorland, and First Choice Liquor. Otherwise, you’ll have to log into your account using the flybuys website, and you then get to choose from an array of merchandise.

Can I get an additional card?

Yes, you can get an additional card for anyone over 16 years of age, and you remain liable for all purchases made using this card.

Do I have to pay international transaction fees for cash advances?

Yes, international cash advances attract a 2.5% fee.

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247 Responses to Coles Rewards MasterCard – Rates & Fees

  1. Default Gravatar
    Tim | July 15, 2016

    Can this be used for fights using jetstar or Qantas flights overseas

    • Staff
      May | July 19, 2016

      Hi Tim,

      Thanks for your inquiry.

      So long that Jetstar or Qantas accepts your card as a form of payment, then you can use your Coles MasterCard for your ticket purchases with these airlines.

      Cheers,
      May

  2. Default Gravatar
    Adam | June 3, 2016

    I have this card and it has a “International Transaction Fee: 2.5% on all purchases and cash. Refer to Financial Table.”. That sounds like an international transaction fee yet your comparison does not show this?

    • Staff
      Ysa | June 6, 2016

      Hi Adam,

      Thanks for your question.

      As mentioned above, there is no international transaction fees on purchases when you shop online or when you’re overseas. While the 2.5% only applies on cash withdrawals outside of Australia or in a foreign currency.

      I hope this helps. Please let me know if I can assist you further.

      Cheers,
      Ysa

  3. Default Gravatar
    Deb | May 10, 2016

    1) Is there a fee for an additional card?
    2) Which bank is this credit card organised through?
    3) Do you have security that detects unusual activity on you card
    and notifies us immediately?

    • Staff
      Anndy | May 10, 2016

      Hi Deb,

      Thanks for your questions. Please note that finder.com.au is a financial comparison and information service and not Coles.

      Here are my answers:

      1. Coles Rewards MasterCard does not charge for yearly additional cardholder fee.
      2. It is among the credit cards offered by Latitude Financial Services
      3. Your credit card has three layers of defence against fraud and theft as discussed on the page I’ve sent to your email.

      I hope this helps.

      Cheers,
      Anndy

  4. Default Gravatar
    Andrew | April 22, 2016

    Will there be free travel insurance coverage when i purchase air ticket using Coles Platinum Credit Card?

    • Staff
      Ysa | April 23, 2016

      Hi Andrew,

      Thanks for your question.

      Unfortunately, the Coles Rewards MasterCard does not offer complimentary travel insurance.

      You may wish to compare other credit cards with free travel insurance here.

      I hope this helps.

      Cheers,
      Ysa

  5. Default Gravatar
    Lauren | April 13, 2016

    Just wondering why this says there are no foreign transaction fees on this card since I have this card and it charges 2.5% plus a $4 fee for at the moment withdrawal or $5 over the counter fee. And that’s not including cash advance fees either.

    • Staff
      May | April 13, 2016

      Hi Lauren,

      Thanks for getting in touch.

      Yes, Coles Rewards MasterCard charges $2.50 and $4 on overseas cash advance and overseas ATM withdrawal fees, respectively. This is actually outlined in the “fees and repayments” section of the table above.

      As for the foreign transaction fees, when making purchases overseas and on international sites, merchants usually charge you with international transaction fees for every transaction. But with this card, you can save on costs by paying no international transaction fees on purchases you make.

      Hope this answers your question.

      Cheers,
      May

  6. Default Gravatar
    | February 27, 2016

    Hi,
    If my parent has a coles rewards master card, how can they transfer the points to me? would i need the same card as well?

    Thanks.

    • Staff
      Jonathan | February 29, 2016

      Hi Ness, thanks for your inquiry!

      Unfortunately flybuys points are unable to be transferred to another cardholder.

      Cheers,

      Jonathan

  7. Default Gravatar
    David | February 19, 2016

    How do Coles fly buy points link to Qantas frequent Flyer points?

    • Staff
      Ally | February 19, 2016

      Hi David,

      Thanks for reaching out.

      Unfortunately, the Coles flybuys program does not have a partnership with Qantas at the moment.
      For a list of Qantas Frequent Flyer cards, kindly refer to this page.

      I hope this has helped.

      Cheers,
      Ally

  8. Default Gravatar
    Jason | February 7, 2016

    How come i never got the hundred dollars off my shopping when using my coles mastercard? I’m a new customer and been approved before the 9th of February deadline

    • Staff
      Ally | February 8, 2016

      Hi Jason,

      Thanks for your inquiry.

      Kindly note that finder.com.au is an online comparison service that does not represent any card issuer such as Coles.

      However, to be able to enjoy the $100 cash back offer, you need to ensure that you meet the terms and conditions as well. One eligibility requirement for this is having a flybuy account. $100 off will then be activated on your flybuys account and available for (one-time) use within 4 weeks of your card approval date. $100 off will only be activated on the flybuys card quoted in the application process. You can easily redeem the $100 off by scanning your flybuys barcode on the back of your new Coles MasterCard and spending at least $100.05 after savings and discounts in one transaction at Coles Supermarkets or Bi-Lo.

      For more information, kindly click on either the ‘Find Out More’ or ‘Go to Site’ buttons at the upper right part of this page, which will redirect you to a new page, and then read through the terms and conditions located at the bottom of it. I have also sent you its link to your email together with Coles’ contact number, should you have further inquiries about this matter.

      I hope this has helped.

      Cheers,
      Ally

  9. Default Gravatar
    Lynden | February 5, 2016

    Hi there, if l put extra cash on my Cole credit card , for a overseas trip, so my limit is 6000 and l put my own cash on top of this 6000, so l put 4000 extra , so my limit becomes 10000. If l pull cash out of arm in Thailand,what fees will l get charged? As long as l don’t go below $6000?

    • Staff
      Jonathan | February 8, 2016

      Hi Lynden, thanks for your inquiry!

      If you are withdrawing funds overseas the cash advance interest rate will not be charged since you will be in a ‘credit’/positive balance. The only fees applicable for overseas ATM withdrawals are $4 per transaction.

      Cheers,

      Jonathan

  10. Default Gravatar
    Coral | January 28, 2016

    I am a self funded retiree so do not have a job just income from interest and dividends. How and can I apply for this card when you need an employers details.

    Thanks

    • Staff
      Jonathan | January 28, 2016

      Hi Coral, thanks for your inquiry!

      If you are retired/ self employed you can enter your own details in the employer fields.

      Cheers,

      Jonathan

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