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Coles Low Rate Mastercard
Coles Low Rate Mastercard

Coles Credit Cards

Coles Low Rate Mastercard

Updated 1 March 2024

Save on interest with Coles Low Rate's 12.99% p.a. on purchases plus, 0% p.a. on balance transfers for 15 months with 1.5% balance transfer fee when you apply by 30 June 2024. Collect 1 point for every $2 you spend at Coles Supermarkets. Get it for the enticing introductory offers, and keep it for its low ongoing interest charges plus rewards.
T&Cs apply.

Purchase Rate (p.a)

12.99%

Balance Transfer (p.a)

0% for 15 months 1.5% balance transfer fee applies.
Reverts to 19.99% p.a.

Annual Fee (p.a)

$58

$0 over 15 months

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • A low 12.99% p.a. on purchases. Applies to retail purchases (excludes cash advances).
  • 0% p.a. on balance transfers for 15 months. 1.5% 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
  • Tap & Pay with Apple Pay, Samsung Pay and Google 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 a low 12.99% p.a. on purchases PLUS, 0% p.a. on balance transfers for the first 15 months when you apply and get approved by 30 June 2024. This card lets you earn 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.

About 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 could be a suitable option for you.

You have to be wary of the 0% balance transfer offer as it 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.

The 15-month balance transfer 0% promotional period commences when the balance transfer is processed and 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, a low 12.99% p.a. on purchases PLUS 0% p.a. on balance transfers for the first 15 months, all for an affordable annual fee.

User reviews

Coles Low Rate Mastercard ( based on 11 Creditcard.com.au user reviews )

60% rating based on 11 reviews

Rates
Fees
Rewards
Customer Service
Value
90%

coles law rate mastercard

6 May 2023

i need is request cole master card

Recommends this card
90%

dhanunjaya

21 June 2022

shopping moment using only

Recommends this card

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 15 months

Balance transfer revert rate 19.99% p.a.

Balance transfer from personal loan Yes

Balance transfer fee 1.5% one off

Balance transfer limit 80% of approved credit limit

Brands you can't balance transfer from Coles

Credit limits

Minimum credit limit $1,000

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 No

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 Coles Low Rate Mastercard’s money-saving offers – low 12.99% p.a. on purchases plus 0% p.a. on balance transfers for the first 15 months, along with its 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.

Key features

  • A low 12.99% p.a. on purchases. Applies to retail purchases (excludes cash advances).
  • 0% p.a. on balance transfers for 15 months. 1.5% 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
  • Tap & Pay with Apple Pay, Samsung Pay and Google 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

  • 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 our credit card expert a question.

99 questions (showing the latest 10 Q&As)

Colette

Colette

3 October 2023
Hi Pauline, I have had the same credit card with CBA for over 20 years. I have never failed to paid it off every month. Currently, due to covid, I have had to put $21000 on the card and need some time to pay it off. I do not work but the money spent on the card was to complete building works where I will be receiving regular rental income which will be $52000 per annum. Do I need to have proof of current income to be approved for the Coles Low Rate Mastercard?
    Pauline - CreditCard.com.au

    Pauline

    4 October 2023
    Hi Colette, I checked Coles Low Rate Mastercard’s eligibility and it states that you “need to have a regular income” and be ready to upload payslips. You should consider speaking to your accountant or financial advisor if you have one to provide more clarity for you.
Maureen Lawton

Maureen Lawton

15 May 2023
My frequent flyer number XXXXXXX. Can I use this card to to buy my groceries and p a y bills if I put credit on it every week. I would prefer one card I stead of three I have now
    Pauline - CreditCard.com.au

    Pauline

    16 May 2023
    Hi Maureen, yes you can use the Coles Low Rate Mastercard to purchase groceries and pay bills. Please note though that the acceptance of credit cards as a payment method may vary among different billers. If your biller accepts credit card payments, you can conveniently use the Coles Low Rate Mastercard for both grocery purchases and bill payments. If you are paying via BPAY make sure to check whether you’ll be charged the purchase rate or cash advance rate of interest for that transaction.
Suzie

Suzie

21 July 2022
Hi Pauline, if taking advantage of the balance transfer to the low rate Mastercards with 36 months interest free can you pay off the balance ONLY or are you required to make purchases with the card?
    Pauline - CreditCard.com.au

    Pauline

    28 July 2022
    Hi Suzie, that’s a great question! If you don’t have any other money owing on your card aside from the balance transferred, yes you can just pay it off. It’s actually better not to use your card for new purchases because any interest-free days won’t apply if you have a balance transfer (meaning you’ll pay interest on new purchases from day one). Basically, you always have the option to not use your card until you need it. Just keep in mind that if there’s a balance owing, you need to pay at least the minimum amount on or before the due date indicated on your statement each month. You can see more about how balance transfers work on our Best 0% Balance Transfer Cards page. Hope this helped!
Robert Burt

Robert Burt

28 June 2022
I started an application and it logged me out at the section where I add information for balance transfer and to upload documents. When I logged back in using the pin sent it said “ thank you for you application”. I didn’t submit because I hadn’t finished the application?? The application has now been submitted half completed?
    Pauline - CreditCard.com.au

    Pauline

    29 June 2022
    Hi Robert, please reach out to Coles directly at 1300 306 397 to check and complete your application.
Sean

Sean

14 June 2022
Hi, Can I transfer the whole amount from my current card to the coles mastercard, previously this has not been the case, so i end up with 2 cards running.
    Pauline - CreditCard.com.au

    Pauline

    15 June 2022
    Hi Sean, you can transfer balances from non Citi-issued cards to a Coles Low Rate Mastercard up to 80% of your approved available credit limit.
Kathy Migdale

Kathy Migdale

5 June 2022
I have a credit card with $20,000 balnce. Its a westpac altitude mastercard. Can I transfer this balance to a coles mastercard? It says o interest. Is that true? Wht happens with purchases after the transfer? Is there a interest free period?
    Pauline - CreditCard.com.au

    Pauline

    6 June 2022
    Hi Kathy, I checked Coles Low Rate Mastercard and see that it currently offers 0% on balance transfers for 36 months and reverts to 19.99% p.a. thereafter. You can also request to do a balance transfer from Westpac. But please note though that you can only transfer up to 80% of your available approved credit limit and is still subject to approval by Coles. Check the card’s terms, conditions and TMD before applying.
Phoebe Hall

Phoebe Hall

1 June 2022
With the Coles credit card can I use at any stores or services or do I only use this in Coles?
    Pauline - CreditCard.com.au

    Pauline

    2 June 2022
    Hi Phoebe, you can use the Coles Low Rate Mastercard at any store you shop at.
Diana

Diana

31 May 2022
Hi Pauline, I have an existing debt on an NAB Visa credit card and a Citi Ready Credit card. My annual income is around $35,000 and I have an excellent credit rating. Would I be able to apply for a balance transfer to the Coles Low Rate Mastercard? Thanks, Diana
    Pauline - CreditCard.com.au

    Pauline

    2 June 2022
    Hi Diana, if you’re 100% confident you’ve met the eligibility criteria, you can consider applying. Please note though that your application and balance transfer request is still subject to approval by Coles. You can use our balance transfer credit cards comparison tool for more options. Please check the card’s terms, conditions and TMD before proceeding with your application.
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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