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Coles Low Rate Mastercard
Coles Low Rate Mastercard

Coles Credit Cards

Coles Low Rate Mastercard

Updated 29 April 2022

Save on interests with Coles Low Rate as it introduces a very lengthy offer of 0% on balance transfers for 36 months when you apply for a new card by 30 June 2022, reverts to cash advance rate. Collect 1 point for every $2 you spend at Coles Supermarkets. Get it for the rare and enticing balance transfer offer, keep it for its low ongoing interest charges plus rewards.

T&Cs apply. Offer ends 30 June 2022

Purchase Rate (p.a)

12.99%

Balance Transfer (p.a)

0% for 36 months No balance transfer fee.
Reverts to 19.99% p.a.

Annual Fee (p.a)

$58

$0 over 36 months

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • 0% p.a. on balance transfers for 36 months. No balance transfer fee. (Reverts to Cash Advance rate). No interest free days apply while you have a balance transfer
  • Collect 1 Flybuys point for every $2 spent at Coles Supermarkets
  • A considerate annual fee of $58
  • Up to 55 days interest free on purchases if you do not have a balance transfer
  • Instant $10 off your Coles Supermarket shop when you redeem 2,000 Flybuys points in-store at checkout
  • Tap & Pay with Apple and Samsung Pay
  • Three layers of fraud protection with Coles Shield

  • Cash advance rate of 19.99% p.a.

Creditcard.com.au review

Editor Review

Coles Low Rate Mastercard

Pauline Hatch
Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. about this card.

The Coles Low Rate Mastercard

While you may not be a fan of their jingles, you might find Coles Credit Cards more appealing. As the name suggests, the Coles Low Rate Mastercard is this supermarket giant’s low rate credit card option, providing customers with the opportunity to save money on interest while earning rewards and enjoying a few perks along the way.

If you are a regular Coles shopper, this card may provide the benefits and rewards you need. Want to find out more? Let’s have a better look at what’s on offer.

What we love...

As an everyday card, the Coles Low Rate Mastercard certainly has plenty to offer. Cardholders have to stump up a relatively low annual fee to enjoy all the benefits of a Coles-orientated rewards card, including an enticing introductory offer - 0% p.a. on balance transfers for the first 36 months plus an earn rate of 1 point per $2 spent at Coles Supermarkets.

You can earn 1 Flybuys point for every $2 spent at Coles Supermarkets. Points earned can be redeemed against a wide range of rewards, or alternatively, you could opt for Instant Rewards with $10 off your Coles shop every time you redeem 2,000 Flybuys points at Coles Supermarkets in-store at checkout.

On to the balance transfer intro offer. If you happen to have existing debt on other credit cards that you're trying to pay off, this card is a suitable option as it could potentially save you heaps in interest.

Be wary of these offers as they may add to your debt if you don't pay it off in a timely manner. After the promo period, any unpaid balance transfers will incur a higher cash advance rate of 19.99% p.a. Also, it's worth noting that no interest-free days apply while you have a balance transfer.

To take advantage of this you simply need to apply for a new Coles Low Rate Mastercard by 30 June 2022. The 36-month balance transfer 0% promotional period commences when the balance transfer is processed. Keep in mind that you must make the balance transfer request within 90 days from approval to receive this offer.

What’s not so great...

With the Coles Low Rate Mastercard, there’s not too much to complain about. The annual fee is pretty affordable and the purchase rate is relatively low. While the cash advance rate is high – as it is with most credit cards – you can avoid it by simply not using the cash advance feature.

It is worth noting however, that if you plan to use the card’s offer of up to 55 days interest-free on purchases, you will have to ensure the balance is paid off in full each statement period.

Why should you choose this card?

We’ve already touched on many of the benefits this card offers but it does have a few other tricks up its sleeve. As a Flybuys card and Mastercard rolled into one, it allows you to carry only one card, ensuring you always have it on hand to claim points as you spend.

Aside from allowing you to save on interest with up to 55 days interest-free on purchases (no interest-free days apply while you have a balance transfer), this card also gives you access to the Coles Mobile Wallet App, 24/7 worldwide concierge, and fraud management system.

Overall Rating

An incredibly useable shopping rewards card, offering some great features and handy introductory offers, all for an affordable annual fee.

User reviews

Coles Low Rate Mastercard ( based on 7 Creditcard.com.au user reviews )

55% rating based on 7 reviews

Rates
Fees
Rewards
Customer Service
Value

Rates and fees

Interest rates



Purchase rate 12.99% p.a.

Cash advance rate 19.99% p.a.

Interest free period on purchases up to 55 days

Balance transfer

Balance transfer rate 0% p.a. for 36 months

Balance transfer revert rate 19.99% p.a.

Balance transfer from personal loan Yes

Balance transfer fee No fee

Balance transfer limit 80% of approved credit limit

Brands you can't balance transfer from Citi

Credit limits

Minimum credit limit $2,000

Maximum credit limit N/A

Fees & repayments

Annual fee $58 p.a.

Additional cardholder fee Up to 4 at no extra cost

Foreign transaction fee 2.5%

Minimum repayment 2% or $30, whichever is greater

Cash advance fee $1.95 (under $65.00) or 3% (equal to or over $65.00); $5 (international)

Late payment fee $30

Rewards and points

Rewards program

Rewards Program Flybuys Flybuys

Bonus points N/A

Annual points cap uncapped

Bonus points spend criteria N/A

Earning points with this card

Flybuys Rewards points 0.5 points per $1 spent

Points cap per month N/A

Overseas earn rate same as standard earn rate

Additional features

Complimentary insurance

International Travel Insurance No

Flight Inconvenience Insurance No

Transit Accident Insurance No

Smartphone Screen Insurance No

Purchase Protection Insurance Yes

Extended Warranty Insurance No

Rental Vehicle Excess In Australia Insurance No

Extras

Fraud protection with Coles Shield

Complimentary access to 24/7 worldwide concierge

Overview

Coles Low Rate Mastercard

Enjoy money-saving 0% p.a. on balance transfers for the first 36 months and some great features, wrapped with a considerate annual fee of $58. Collect 1 point for every $2 you spend at Coles Supermarkets on your Coles Low Rate Mastercard. Enjoy Instant Rewards with $10 off your Coles shop every time you redeem 2,000 Flybuys points at Coles Supermarkets in-store.

Key features

  • 0% p.a. on balance transfers for 36 months. No balance transfer fee. (Reverts to Cash Advance rate). No interest free days apply while you have a balance transfer
  • Collect 1 Flybuys points for every $2 spent at Coles Supermarkets
  • A considerate annual fee of $58
  • Up to 55 days interest free on purchases if you do not have a balance transfer
  • Instant $10 off your Coles Supermarket shop when you redeem 2,000 Flybuys points in-store at checkout
  • Tap & Pay with Apple and Samsung Pay

Minimum criteria to apply for this card

  • Be over 18 years old

  • Good Credit and have not applied for multiple credit cards recently

  • Australian permanent resident

  • Minimum income of $25,000 p.a.

  • You have your personal details ready to complete the online application

Pauline

Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. Pauline is passionate about seeing Aussies win by making their money – and their credit cards – work smarter, harder and bigger

Recently Asked Questions

Something you need to know about this card? Ask a our credit card expert a question.

91 questions (showing the latest 10 Q&As)

Adrian

Adrian

17 May 2022
Hi Pauline just a few questions What's the criteria for a credit card transfer of 11000 How does this affect my credit ratings Is there any lock in contract once the transfer is done How long does the process take
    Pauline - CreditCard.com.au

    Pauline

    18 May 2022
    Hi Adrian, there’s no set “criteria” that the banks publish in regards to their credit applications. You’ll generally need to have an excellent credit file and have not applied for any other cards recently. This Coles card lists an income requirement of $25,000p.a. The Coles card only allows you to transfer up to 80% of your available credit. There’s no set “contract” but the current promotion is a 0% for 36 months offer. The balance transfer process can take anywhere a day to a week. Of course this is all general information and you should review the credit card terms and conditions on Coles’ site before applying. Hope this has helped you out.
arto aaro bohm

arto aaro bohm

14 May 2022
scan current card HSBC Bank
    Pauline - CreditCard.com.au

    Pauline

    18 May 2022
    Hi Arto, can you please provide us with more information so we can try to help?
Dee

Dee

21 April 2022
I am assuming that any balance not paid off in the 36 months converts to the cash advance rate. But any purchases made are @ 12.99%?
    Pauline - CreditCard.com.au

    Pauline

    22 April 2022
    Hi Dee, you’re 100% correct. Any outstanding balance will revert to 19.99% p.a. However, if you’re still carrying a balance, you’ll get no interest free days and accrue interest straight away. If you are keen on taking advantage of 0% interest for both purchases and balance transfers, you can use our tool to compare credit cards side by side and find the card that suits your needs.
LW

LW

21 April 2022
If I have applied for a credit card about a month ago would it affect my application for a new one now? I just moved back to Australia 5 months ago and am employed now full time and not under probation. Also I am a citizen of Australia.
    Pauline - CreditCard.com.au

    Pauline

    21 April 2022
    Hi LW, applying for too many credit cards can have a negative impact on your credit file. If the banks assess your risk to be too severe they may knock back your application. You should get a copy of your credit file, and check to see where you stand first. Hope this has helped.
Trev

Trev

24 March 2022
Hi i have a coles credit card currently I was wondering if i could apply for a new account and balance transfer the current amount and possibly have a higher limit.
    Pauline - CreditCard.com.au

    Pauline

    31 March 2022
    Hi Trev, I checked Coles Low Rate Mastercard’s terms and it states that the offer is only available to new customers only. If you’re keen on getting a 0% balance transfer credit card, you can use our comparison tool to see what card might suit you best.
Fifi

Fifi

5 March 2022
If I add an addition card holder to my account will there transaction be on the same statement or will they be issued a seperate statement?
    Pauline - CreditCard.com.au

    Pauline

    7 March 2022
    Hi Fifi, charges done on an additional credit cardholder’s card will reflect on one statement which is sent to the primary cardholder. This means that the primary cardholder is responsible for making sure that balances are paid off on or before the due date to avoid any penalties.
Gina Sutton

Gina Sutton

2 February 2022
Why does tha application ask for accounts information,I don’t have an account I am nott working I’m retired ,and it won’t let me go any further on the application.why
    Pauline - CreditCard.com.au

    Pauline

    4 February 2022
    Hi Gina, credit card providers have their own internal policies for application tracking. You’ll need to give Coles a call on 1300 306 397 to speak to their team in regards to your enquiry.
Mark

Mark

7 December 2018
How long does it take to get an answer after one has applied for a Coles MasterCard online
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    10 December 2018
    Hi Mark, it typically takes 5-10 working days to fully process a credit card application. This would be similar for the Coles low rate Mastercard. You can always call Coles credit card customer service if you are wanting an update.
Ian

Ian

16 November 2018
How do I apply for Coles low rate Master Card
FER

FER

16 November 2018
Roland : How to avoid Cash advance rate of 19.99% p.a.? what do you suggest ? i want to use the 15 month interest free only .
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    16 November 2018
    Understand, who wouldn't. Just use the card for everyday purchases. BPAY should be ok but best to check to make sure with the company you are making BPAY payment 2. Make sure you have a plan in place to pay off the purchases during the intro period. Any unpaid amount at the time will revert to standard purchase rate (not cash rate). A balance transfer could be an option closer to the intro rate expiring to avoid the high interest.
graham page

graham page

27 September 2018
Past statements for JUNE to September 2018

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