In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
  • Ask a question
Finder makes money from featured partners, but editorial opinions are our own.
Coles Rewards Mastercard
Terms and conditions apply
Balance transfer rate with no balance transfer fee
19.99% p.a.
Bonus points
50,000
Purchase rate
19.99% p.a.
Reward points per $ spent
2

Our verdict

Offers 50,000 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 50,000 bonus Flybuys points could get you $250 Flybuys Dollars to save on shopping at Coles, Kmart, Target and other partners or 25,000 Velocity Points.

Pros

  • 50,000 bonus Flybuys points
  • 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

  • Doesn't offer complimentary travel insurance, unlike some other rewards cards

In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
  • Ask a question

The Coles Rewards Mastercard offers 50,000 bonus points when you apply by 30 June 2024 and spend $3,000 in the first 3 months. 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. If you’re approved for a platinum card, you’ll also get access to complimentary insurance cover for eligible purchases. But you can’t apply for a platinum card separately, so you won’t know if you’re eligible for one unless you’re approved.

Details

Product details

Product Name Coles Rewards Mastercard
Balance transfer rate p.a. 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 50,000
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

Well done, Coles!

The Coles Rewards Mastercard scored well for its bonus points offers and earn rate. It earns 2 Flybuys points per $1 on eligible spending up to $3,000 in a statement period and 1 point per $1 after that. Its $99 annual fee is also competitive for a card in this category.

Full list of 2024 winners

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 is 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.

Card benefits

  • 50,000 bonus Flybuys points. If you're a new customer, you can get 50,000 bonus Flybuys points when you apply by 30 June 2024 and spend $3,000 on eligible purchases in the first 3 months 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. This is a competitive earn rate compared to other rewards cards with similar annual fees. 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.

Rates & fees

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

Your reviews

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Amy Finder

Editor

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Avatar

David

April 22, 2024

I’m a aged pensioner plus fund drawdown each month as necessary am I eligible to get a Cole credit card have other credit cards with I will close if accepted thanks


Avatar

Sarah Megginson Finder

April 23, 2024

Hi David,


There’s a few different things that banks consider when reviewing your application. Your best bet is to contact Coles directly and explain your situation to see if you’re likely to be approved, based on the specifics of your income and expenses.


Best of luck!


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Alma

February 13, 2024

Hi does the card give you insurance on purchases or international travel insurance


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Sarah Megginson Finder

February 15, 2024

Hi Alma, this card doesn’t offer complimentary travel insurance, unlike some other rewards cards.


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Caspar

December 09, 2023

Hello


Most credit cards have a minimum income level. In your experience, is there a way around that? I do understand that this is a requirement of the card issuer, not Coles or Latitude who whoever. Do they accept personal explanations of one´s financial status?


We are self-funded retirees, with an unblemished credit history. We no longer work because we do not have to, having a property portfolio. To me it seems like I would be an acceptable risk if I earned 75k yet had an 800k mortgage, which is probably a fairly common scenario, as opposed to the 25k we each declare whilst sitting on enough liquidity to see us out for the rest of our lives.


Only looking for a new provider because I am just not happy with the current one, which is HSBC btw.


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Amy Bradney-George Finder

December 12, 2023

Hi Caspar,

It’s true that credit cards have income requirements as part of the responsible lending obligations that banks and other lenders need to meet. But every credit card brand has a different definition of “income” and in some cases that includes receiving income from a pension and/or other investments. Finder has a guide on credit cards for retired and pensioner applicants that has more details on the different options and requirements.


Usually, you’ll need to provide your most recent superannuation, pension or other income and banking statements to verify the regular income. If you use an accountant, you may also be asked for their details on the application. In regards to income for the Coles Rewards Mastercard, the eligibility requirements state that you must “receive a regular income”. There’s no specific information about the type of income (some lenders provide more specific details). But you could contact the Coles Credit Cards team on 1300 306 397 if you wanted to discuss your situation before applying. I hope this helps.


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Mich

November 27, 2023

Hi ,Is there a difference between Coles Reward and Coles Platinum rewards?


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Amy Bradney-George Finder

December 05, 2023

Hi Michelle,

A platinum Coles credit card offers complimentary insurance. But the main features of the Coles Rewards Mastercard – including points per $1, rates and fees – are the same. And there is no separate “platinum” application, just the one you would use to apply for the Coles Rewards Mastercard. If you have any other questions, you could contact Coles Mastercard on 1300 306 397. I hope this helps.


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Chris

November 04, 2023

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


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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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