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Terms and conditions apply

Balance transfer rate for 12 months with 5% balance transfer fee: 0% p.a.
Purchase rate: 20.74% p.a.
Reward points per $ spent: 2
Annual fee: $99 p.a.

Our verdict

Receive a $250 Coles gift card, up to 3 Flybuys points per $1 spent, and a 0% balance transfer offer.

The Coles Rewards Mastercard offers one of the highest earn rates among cards that are linked to the Flybuys program, earning up to 3 points per $1 on eligible spending. Right now, you can get a $250 Coles gift card when you spend $3,000 on eligible purchases in the first 90 days from approval. If you're looking to pay off your existing debt, this card also offers 0% p.a. on balance transfers for the first 12 months. Just keep in mind that there's a 5% balance transfer fee, and any remaining balance after the introductory period will be charged at the variable cash advance rate of 20.74% p.a.

If you’re approved for a platinum card, you’ll also receive access to complimentary insurance cover for eligible purchases. However, since you can't apply for a Platinum card separately, you won't know if you're eligible until you're approved.

Pros

$250 Coles gift card
0% p.a. on balance transfers for the first 12 months
Up to 2 Flybuys points per $1 spent on eligible purchases and an additional 1 Flybuys point per $1 when you shop at Coles and scan your Flybuys barcode

Cons

Charges a 5% balance transfer fee
Doesn't offer complimentary travel insurance, unlike some other rewards cards
Standard interest rates are relatively high

Details

Product details

Product Name	Coles Rewards Mastercard
Balance transfer rate p.a.	0% for 12 months with 5% balance transfer fee, then 20.74%
Balance transfer limit	80% of available limit
Purchase rate p.a.	Purchase rate p.a.20.74%
Interest-free days	Up to 44 days on purchases
Cash advance rate p.a.	20.74%
Min credit limit	$1,000
Card type	Mastercard

Eligibility

Available to temporary residents	No
Joint application	No

Rewards

Rewards program	Flybuys / Velocity Frequent Flyer
Bonus points	N/A
Rewards points per $ spent	2
Rewards points cap	11,000

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	3%
Cash advance fee	3% of transaction value or $1.95, whichever is greater
Overseas cash advance fee	$5
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. To be eligible for the introductory offer, you must apply for a new Coles Rewards Mastercard and join as a new Coles Plus Saver member.
Residency. This card is available to permanent Australian residents.

Credit history. You'll need a good credit score to receive approval.
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.
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.

Go to Coles's site More info

Card benefits

$250 Coles gift card. Get a $250 Coles gift card when you apply by 17 March 2026 and spend $3,000 on eligible purchases in the first 90 days from approval.
Balance transfer offer. Apply and be approved by 17 March 2026 to receive a 0% p.a. balance transfer offer for the first 12 months (with a 5% balance transfer fee). After the promotional period, any remaining balance will revert to the variable cash advance rate, currently 20.74% p.a.

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 spent up to $8,000 per statement period. When shopping at Coles, you can boost this further to collect an additional 1 Flybuys point per $1 spent by scanning your Flybuys barcode at the checkout. This is a competitive earn rate compared to other rewards cards with similar annual fees. But it is capped at 11,000 points per statement period. See Finder's Flybuys guide for details on rewards and other features of the program.
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 Google Pay, Apple Pay and Samsung Pay.
Interest-free days. You can get up to 44 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.

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 20.74% p.a.

International transaction fees on purchases.The Coles Rewards Mastercard charges 3% international transaction fees on purchases when you shop overseas or online with an international merchant.

Go to Coles's site More info

Sources

Finder writers are subject matter experts and use primary sources, in-depth research and interviews with other experts to ensure you're getting accurate, up-to-date information. Articles are fact checked in line with our editorial guidelines.
1. Coles Rewards Mastercard information PDF
2. Coles Rewards Mastercard TMD

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Nadine

January 15, 2026

What is the reward cap of 11,000? Is this monthly, yearly or something else?

Richard Whitten Finder

January 19, 2026

Hi Nadine,

It’s a bit confusing but yes it’s a monthly cap. You earn 2 Flybuys Points per dollar, up to $3,000 per statement period (per month, basically). And then you earn 1 point for every dollar beyond $3,000, capped at $8,000 per month/statement period.

That adds up to 11,000 points per month (6,000 points for first $3,000, plus a further 5,000 points at a rate of 1 point per dollar from $3,001 until you reach the $8,000 cap).

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October 22, 2025

What happens if you have the old Cole’s rewards Mastercard ie joined in May 2025 said I would get 10% every calendar month

Sarah Megginson Finder

October 22, 2025

Hi there,

Yes, you are entitled to 10% off one Coles shop (up to $50) each month as a Coles Rewards Mastercard customer. You’ll need to join the Coles Plus Saver program (it is free with the card until August 2026) to get access to your discount. Hope this helps!

Andrew

April 08, 2025

Does this card earn points when paying “Government Payments” such as Rates Notice, Drivers License renewal, etc?

Richard Whitten Finder

April 08, 2025

Hi Andrew,

Unfortunately this card does not earn Flybuys when spending on government transactions.

Ash

November 19, 2024

Does Cole’s Mastercard link with budgeting apps like Frollo?

Richard Whitten Finder

November 19, 2024

Hi Ash,

From what I can tell from a quick look on a few forums, you can link a Coles Mastercard to Frollo. But I can’t confirm it on Frollo’s site.

Marilyn

November 19, 2024

What is classified as eligible purchases

E.g refrigerator, groceries, concert tickets

Car repairs, clothing, holidays

Sarah Megginson Finder

November 19, 2024

Hi Marilyn,

All of the purchases you’ve described are eligible purchases, it covers all types of everyday spending. Purchases that are considered ineligible include gambling, cash advances, refunds, fees and charges, interest and payments to the ATO.

Hope this helps!

Amy is an experienced journalist with over 16 years of experience, contributing to major publications like Money Magazine, The Sydney Morning Herald, and ABC News Australia. Specialising in personal finance, she frequently appeared in media outlets and on radio. Amy holds a Bachelor of Arts in Journalism and Drama from Griffith University and earned RG146 certifications in Tier 1 Generic Knowledge and Tier 2 General Advice Deposit Products, ensuring her expertise is grounded in current financial regulations. Amy was Finder's Senior Writer for Credit Cards from 2016 to 2024. See full profile

Coles Rewards Mastercard

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Eligibility criteria

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Rates & fees

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