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Coles Low Rate Mastercard
6 reviews

Coles Low Rate Mastercard

Purchase rate

12.99% p.a.

Balance transfer

0% 6 monthsreverts to 19.99% p.a. No BT fee

Annual fee

$58 p.a.

Pros

Collect flybuys points

Low rate on purchases

0% p.a. on balance transfers for 6 months. Reverts to cash advance rate. No interest free days apply while you have a balance transfer

Up to 55 days interest free on purchases if you do not have a balance transfer

$58 annual fee

$10 instant off your Coles Supermarket shop when you redeem 2,000 flybuys points

Cons

Cash advance rate of 19.99% p.a.

50% of customers who have rated this card would recommend it
  • Rates
    80%
  • Fees
    73%
  • Rewards
    51%
  • Customer Service
    51%
  • Value
    68%
Overall user rating 65%
6 reviews
Interest Rates
Purchase rate 12.99% p.a.
Cash advance rate 19.99% p.a.
Interest free on purchases up to 55 days
Balance Transfer
Balance transfer rate 0% p.a. for 6 months
Balance transfer fee No fee
Balance transfer revert rate 19.99% p.a.
Balance transfer limit 80% of your approved new credit limit
Balance transfer from personal loan No
Banks you can't balance transfer from Citi ,Coles
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
Cash advance fee Min. $1.95 or 3% of transaction, whichever greater $5 for international cash advances
Foreign transaction fee 2.5%
Minimum repayment 2%
Late payment fee $30
Credit card type Mastercard
Rewards program
Rewards program flybuys flybuys
Annual points cap uncapped
Bonus points spend criteria N/A
Earning points with this card
flybuys points 0.5 points per $1 spent
Overseas earn rate same as standard earn rate
Points cap per month N/A
Complimentary insurance
Flight inconvenience insurance No
Transport accident cover No
Smartphone screen insurance No
Purchase protection insurance No
Extended warranty insurance No
Rental vehicle excess cover No

Coles Low Rate Mastercard

Roland Bleyer
Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au.

The Coles Low Rate Mastercard

While you may not be a fan of their jingles, you might find Coles Credit Cards somewhat 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 just the benefits and rewards you need. Want to find out more? Let’s get in close and 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 rate on purchases and an earn rate of 1 point per $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.

Anything else to mention in this section? If you happen to have existing debt on other credit cards, you may choose to take advantage of the balance transfer offer currently provided. Potentially saving you heaps in interest, this offer gives you 0% p.a. on balance transfers for 6 months. Reverts to cash advance rate. No interest free days apply while you have a balance transfer.

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 – this can be avoided by 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, Mastercard Zero Liability Guarantee and fraud management system.

Overall Rating

An incredibly useable shopping rewards card, offering some great features and handy introductory offers, all with a low purchase rate and affordable annual fee.

84 questions (showing the latest 10 Q&As)

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

Coles Low Rate Mastercard

Pay just 12.99% p.a. on purchases wrapped with a low 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.

Key features

  • 12.99% p.a. on purchases and 19.99% p.a. on cash advances.
  • $58 annual fee
  • 0% p.a. on balance transfers for 6 months (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
  • Up to 55 days interest free on purchases if you do not have a balance transfer
  • $10 instant off your Coles Supermarket shop when you redeem 2,000 flybuys points
  • Be over 18 years old
  • Good credit and 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
Coles Low Rate Mastercard
Coles Low Rate Mastercard

Coles Low Rate Mastercard

Updated 13 September 2019

Purchase Rate (p.a)

12.99%

Balance Transfer (p.a)

0% for 6 months No BT fee. reverts to 19.99% p.a.

Annual Fee (p.a)

$58

$0 over 6 months

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • Collect flybuys points
  • Low rate on purchases
  • 0% p.a. on balance transfers for 6 months. Reverts to cash advance rate. No interest free days apply while you have a balance transfer
  • Up to 55 days interest free on purchases if you do not have a balance transfer
  • $58 annual fee
  • $10 instant off your Coles Supermarket shop when you redeem 2,000 flybuys points

  • Cash advance rate of 19.99% p.a.

Creditcard.com.au review

Editor Review

Coles Low Rate Mastercard

Roland Bleyer
Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au. about this card.

The Coles Low Rate Mastercard

While you may not be a fan of their jingles, you might find Coles Credit Cards somewhat 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 just the benefits and rewards you need. Want to find out more? Let’s get in close and 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 rate on purchases and an earn rate of 1 point per $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.

Anything else to mention in this section? If you happen to have existing debt on other credit cards, you may choose to take advantage of the balance transfer offer currently provided. Potentially saving you heaps in interest, this offer gives you 0% p.a. on balance transfers for 6 months. Reverts to cash advance rate. No interest free days apply while you have a balance transfer.

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 – this can be avoided by 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, Mastercard Zero Liability Guarantee and fraud management system.

Overall Rating

An incredibly useable shopping rewards card, offering some great features and handy introductory offers, all with a low purchase rate and affordable annual fee.

User reviews

Coles Low Rate Mastercard ( based on 6 Creditcard.com.au user reviews )

65% rating based on 6 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 on purchases up to 55 days

Balance transfer

Balance transfer rate 0% p.a. for 6 months

Balance transfer revert rate 19.99% p.a.

Balance transfer from personal loan No

Balance transfer fee No fee.

Balance transfer limit 80% of approved credit limit

Banks you can't balance transfer from Citi, Coles

Credit limits

Minimum credit limt $2,000

Maximum credit limit N/A

Fees & repayments

Annual fee $58 p.a.

Additional card holder fee Up to 4 at no extra cost

Foreign transaction fee 2.5%

Minimum repayment 2%

Cash advance fee Min. $1.95 or 3% of transaction, whichever greater $5 for international cash advances

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 pointsflybuys points 0.5 points per $1 spent

Points cap per month N/A

Overseas earn rateOverseas earn rate same as standard earn rate

Additional features

Complimentary insurance

Overseas travel insurance No

Flight inconvenience insurance No

Transport accident cover No

Smartphone screen insurance No

Purchase protection insurance No

Extended warranty insurance No

Rental vehicle excess cover No

Overview

Coles Low Rate Mastercard

Pay just 12.99% p.a. on purchases wrapped with a low 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.

Key features

  • 12.99% p.a. on purchases and 19.99% p.a. on cash advances.
  • $58 annual fee
  • 0% p.a. on balance transfers for 6 months (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
  • Up to 55 days interest free on purchases if you do not have a balance transfer
  • $10 instant off your Coles Supermarket shop when you redeem 2,000 flybuys points

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

Roland B Bleyer

Roland B Bleyer founded Creditcard.com.au in 2005 and has extensive knowledge about credit cards. He personally answers all questions and write the editor reviews for each card here. Always keen to share his passion to educate consumers and help you select better suited credit cards.

Recently Asked Questions

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

84 questions (showing the latest 10 Q&As)

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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