Coles and Woolworths offer a lot more than just bread and milk. Here we look at their credit cards to see how they compare.
Both Coles and Woolworths have a range of credit cards designed to suit different customer needs. Coles has five products to choose from, including rewards and low rate options, while Woolworths has two different platinum credit cards.
Some of these cards are linked directly to the Coles flybuys and Woolworths Rewards loyalty programs; others offer additional benefits, perks and savings such as low ongoing interest rates, no annual fees or direct earning of frequent flyer points. This guide compares all the cards offered by Coles and Woolworths to help you decide if one of them is right for you.
What credit cards do Coles and Woolworths offer?
Coles credit cards
Coles offers five different credit cards, including two platinum options: the Coles Platinum Rewards MasterCard and Coles Platinum No Annual Fee MasterCard. Unlike many other credit card companies, Coles automatically upgrades you to the platinum option if you apply for either the Coles Rewards card or Coles No Annual Fee card and choose a credit limit of $6,000 or more.
The table below lists the key details of each credit card. In addition to these features, all Coles credit cards offer free delivery when used for Coles online orders over $100. They can also be used at the checkout to get money off your shop if you have flybuys dollars to use.
|Card||Rewards||Purchase rate||Cash advance rate||Annual fee||Other features|
|Coles Low Rate MasterCard||0.5 flybuys per $1 spent (uncapped)||12.99% p.a.||19.99% p.a.||$49|
|Coles No Annual Fee MasterCard||0.5 flybuys per $1 spent (uncapped)||19.99% p.a.||19.99% p.a.||$0|
|Coles Rewards MasterCard||2 flybuys per $1 spent (uncapped)||19.99% p.a.||19.99% p.a.||$89|
|Coles Platinum Rewards MasterCard||2 flybuys per $1 spent (uncapped)||19.99% p.a.||19.99% p.a.||$89|
|Coles Platinum No Annual Fee MasterCard||0.5 flybuys per $1 spent (uncapped)||19.99% p.a.||19.99% p.a.||$0|
Woolworths credit cards
Woolworths has two credit cards to choose from. Both are platinum cards linked to different rewards programs. Like Coles, Woolworths also offers an online shopping perk where you can get $10 off your shop at Woolworths Online when you spend $100 using one of these cards.
|Card||Rewards||Purchase rate||Cash advance rate||Annual fee||Other features|
|Woolworths Everyday Platinum Credit Card||3 points per $1 spent on Woolworths Select products2 points per $1 spent on purchases at participating Woolworths Group stores1 point per $1 |
spent on all eligible purchases
|19.99% p.a.||21.99% p.a.||$49|
|Woolworths Qantas Platinum Credit Card||1 Qantas Point per $1 spent (uncapped)||20.49% p.a.||21.99% p.a.||$99|
Features to consider when comparing Coles and Woolworths credit cards
The value of Coles and Woolworths credit cards really depends on your individual circumstances. When comparing the cards of these two supermarket giants, make sure you look at the following factors based on what you want from a credit card.
- Standard purchase rates. In general, Coles credit cards offer lower standard interest rates than Woolworths credit cards. If you think you may carry a balance on your credit card, it’s important to compare standard purchase rates to find one that’s affordable for you.
- Cash advance rates. The Woolworths Qantas Platinum Credit Card
have a standard variable rate of 20.49% p.a. and 19.99% p.a. for the Woolworths Everyday Platinum Credit Card. Both Woolworths credit cards have standard cash advance rates of 21.99% p.a. This could make a huge difference if you’re using your card for this type of transaction.
- Annual fees. Ideally, the value of the card you choose should outweigh the cost of the credit card. For example, if you chose the Woolworths Qantas Platinum card but hardly ever used it, the $169 annual fee could cost you more than you gain through its other features. When comparing Coles and Woolworths credit cards, note that the Coles No Annual Fee and Platinum No Annual Fee cards are the only options that don’t charge an annual fee for life.
- Coles credit card rewards. Coles credit cards are linked to the flybuys rewards program, which offers points that can be used for redemptions such as money off your shopping, flybuys travel bookings, merchandise and gift cards. To give you an idea of the value of these points, 2,000 flybuys equals 10 flybuys dollars.
- Woolworths credit card rewards. The Woolworths Everyday Platinum credit card offers Woolworths Rewards, with 4,000 points equalling a $20 shopping card. The Woolworths Qantas Platinum card, on the other hand, earns 1 Qantas frequent flyer point per $1 spent. It’s also one of the only cards currently available that directly earns Qantas points and has no points cap. Qantas points can be redeemed for items such as flights and other travel, gift cards and merchandise.
- Point expiry. Coles flybuys points expire after 12 months if you do not earn or redeem any in that time. Woolworths Dollars expire 18 months after you last scanned your card if your balance is worth less than $10, or 12 months after you last earned points if your balance is more than $10. Qantas Points only expire if you don’t earn or use them at least once every 18 months.
- Balance transfers. Coles and Woolworths credit cards allow you to transfer debt from an existing credit card, and may offer a low or 0% promotional rate on the balance if you request this feature when you apply. At the end of the promotional period, any remaining balance transferred to a Coles credit card reverts to the standard purchase rate. This is 19.99% p.a. (variable) for all cards except the Low Rate card, which charges 9.99% p.a. For Woolworths cards, the interest rate for balance transfers reverts to the cash advance rate (21.99% p.a.) at the end of the introductory period.
- Currency conversion fee. The classic and platinum Coles Rewards credit cards don’t charge a foreign transaction fee. All other Coles credit cards apply a fee of 2.5% of the transaction value. In contrast, Woolworths credit cards apply a higher fee of 3% of the transaction value.
- Late payment fee. Coles credit cards apply a $20 fee to payments made after the statement due date, while Woolworths applies a heftier $35 fee.
- MasterCard or Visa. All Coles credit cards are MasterCard options and both Woolworths cards are Visa options. Both MasterCard and Visa have worldwide acceptance, but the benefits and features vary slightly between them.
- Interest-free days. Coles credit cards offer up to 62 days interest-free when you pay your balance in full before the statement due date. Woolworths credit cards only offer up to 55 days interest-free.
- Platinum benefits. Coles platinum credit cards offer a personal concierge service. Both Woolworths platinum cards offer complimentary insurance options, including travel insurance with the Woolworths Qantas Platinum card.
Jane weighs up the Coles Platinum Rewards and the Woolworths Everyday Platinum credit cards
Jane is considering a credit card that earns rewards for a supermarket loyalty program and has easy access to both Coles and Woolworths. To compare the value she would get from the Coles Platinum Rewards MasterCard or Woolworths Everyday Platinum Visa, she estimates her monthly spending as follows:
- Groceries: $1,000
- Fuel: $200
- Toys, clothes, etc: $250
- Entertainment: $250
- Total: $1,700 (or $20,400 per year)
Jane estimates her rewards based on the maximum points she would earn with either card as follows:
- Coles Platinum Rewards MasterCard. Jane would spend her whole grocery budget at a Coles supermarket, buy her fuel at a Coles Express and spend her budget for entertainment, toys and clothes at Coles Rewards Partners such as Target and Kmart.
- Woolworths Everyday Platinum card. Jane would spend her whole grocery budget at a Woolworths supermarket and choose to buy Woolworths Select products. She would also spend her whole $250 clothing and toy budget at Woolworths partners such as Big W or EziBuy. The other $250 she would spend at retailers that aren’t associated with Woolworths.
Based on these scenarios, Jane would get the following dollar amounts with the rewards points she’d earned from each card:
- Coles Platinum Rewards MasterCard. $302.40 per year when redeemed with flybuys dollars.
- Woolworths Everyday Platinum card. $360 per year in the form of Woolworths shopping cards.
For Jane, the Woolworths Everyday Platinum card is better value. However, keep in mind that she is aiming to spend her entire grocery bill on Woolworths Select products, which is limiting. It’s also important to note that Woolworths shopping cards are only valid for 90 days, so to get value out of the card she needs to remember to use her rewards.
It’s clear from the information above that both Coles and Woolworths credit cards offer different features, benefits and potential drawbacks. The weight you place on these features, and the value offered by each card, really depends on your current spending habits, circumstances and goals. But now that you’ve seen these cards side-by-side, you should be able to get a clearer picture of which one offers the most benefits for you.
Frequently asked questions
Which companies issue Woolworths and Coles credit cards?
Woolworths credit cards are provided by Card Services, which is a division of Macquarie Bank. Coles credit cards are provided by Wesfarmers Finance Pty Ltd, which is a division of Wesfarmers (the company that owns Coles).
Can I use Woolworths Dollars if I live in Tasmania?
Currently, if you’re a Tasmanian resident you can not redeem Woolworths Everyday Rewards Points for shopping vouchers to use at Woolworths Group stores.
When don't I earn points?
Woolworths and Coles rewards points are awarded for eligible transactions only. Ineligible transactions include cash advances, balance transfers and paying bank fees or government fees and charges. See the terms and conditions for a full list of transactions that are ineligible for rewards points.