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20,000 when you spend $500 or more on eligible purchases within 60 days of approval
Coles Rewards Mastercard
Coles Rewards Mastercard

Coles Credit Cards

Coles Rewards Mastercard

Updated 14 April 2021

A Coles Rewards Mastercard is a fast way to collect Flybuys points. Receive 20,000 bonus Flybuys Points when you spend $500 or more on eligible purchases within 60 days of approval. Pay no annual fee in the first year and save $99. Enjoy 0% p.a. on balance transfers for 18 months (A 1.5% balance transfer fee applies. Reverts to Cash Advance rate).

T&Cs apply. Offer ends 30 June 2021

Purchase Rate (p.a)

19.99%

Balance Transfer (p.a)

0% for 18 months 1.5% balance transfer fee applies.
Reverts to 19.99% p.a.

Annual Fee (p.a)

$0 first year. Then $99 p.a.

$0 over 18 months

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • Receive 20,000 bonus Flybuys points when you spend $500 or more on eligible purchases within 60 days of approval
  • No international transaction fee on purchases when you shop online or overseas
  • 0% p.a. on balance transfer for 18 months. 1.5% Balance Transfer fee applies. Reverts to cash advance rate. No interest free days apply while you have a balance transfer
  • Up to 55 days interest free on purchases
  • $10 instant off your Coles Supermarket shop when you redeem 2,000 Flybuys points in-store at checkout
  • Pay no annual fee first year, $99 thereafter
  • Collect 2 Flybuys points for every $1 spent on eligible transactions

  • Purchase and cash advance rate of 19.99% p.a.

Creditcard.com.au review

Editor Review

Coles Rewards Mastercard

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

The Coles Rewards Mastercard

Providing you with a fantastic way to collect points as you shop, the Coles Rewards Mastercard could be the perfect card for you if you happen to be a big spender. As an award-winning credit card, it certainly has a lot to offer, including great introductory offers, great extras and an excellent earn rate on a diverse rewards program.

But is this the card that will make the most of your spending? Let’s look closer at this lovely little rewards card to find out what it’s all about.

What we love...

This is an everyday rewards card that’s designed to go the distance. In terms of its earn rate, it allows you to collect 2 points per $1 spent on eligible transactions and up to 3 points per $1 spent with Coles' Flybuys partners when you pay with your Coles Mastercard and scan your Flybuys barcode at checkout.

You can choose to redeem your Flybuys points at the Flybuys online rewards store, use them on Flybuys Travel flights, hotels and packages, or convert them into Velocity Points. Alternatively, you could opt for Instant Rewards, taking $10 off your Coles Supermarket shop at the checkout every time you redeem 2,000 Flybuys points in-store.

No international transaction fee on purchases when you shop online or overseas. However you will be charged fees if you withdraw cash in a foreign currency overseas. All up, these cash advance fees amount to 2.5% of the transaction.

If you have existing credit card debt, you could take advantage of 0% p.a. on balance transfers for 18 months. This rate reverts to the cash advance rate of 19.99% p.a. after the 18 months. A 1.5% Balance Transfer fee applies. Remember that no interest free days apply to retail purchases while you have a balance transfer.

What’s not so great...

When comparing credit cards – especially rewards cards – it’s a good idea to weigh up what you’ll pay out in fees and interest against what you get back in rewards and extras. With the Coles Rewards Mastercard, bear in mind that there is an annual fee to cover and relatively high rates of interest on purchases and cash advances.

It’s also worth noting that while this card provides a great way to collect Flybuys points, the conversion rate to airline points may not be as amazing as you’d hope. You might find that this card provides a good way to collect Flybuys points, but another rewards card may be better for collecting airline rewards points.

Why should you choose this card?

As an everyday Flybuys rewards card, we already know this card has plenty to offer the big spender. However, there are some other nice extras we haven’t mentioned yet. For example, you can use the Coles Rewards Mastercard when shopping overseas or online with international retailers and pay no international transaction fee on purchases.

You can also use the card to save on interest on your everyday spending, with up to 55 days interest free on purchases as long as you don't carry a balance.

Overall Rating

An excellent everyday rewards card for shoppers who want to collect Flybuys points while enjoying some nice shopping-related perks and extras.

User reviews

Coles Rewards Mastercard ( based on 9 Creditcard.com.au user reviews )

56% rating based on 9 reviews

Rates
Fees
Rewards
Customer Service
Value
100%

Daniel

28 March 2019

I was looking for a card to take overseas and went with the Coles Rewards MasterCard. I didn’t pay any fees on my overseas spend and was surprised at how many flybuys points I earned on my trip! Now that I’m back I’ve continued to use the card and I’m still earning a lot of flybuys points, which I’ve recently converted to shopping credits in Coles. This card really ticks a lot of boxes for me!

Recommends this card

Rates and fees

Interest rates



Purchase rate 19.99% 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 18 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

Banks you can't balance transfer from Coles

Credit limits

Minimum credit limit $2,000

Maximum credit limit N/A

Fees & repayments

Annual fee $99 p.a.

Additional card holder fee Up to 4 at no extra cost

Foreign transaction fee 0%*

Minimum repayment 2% or $30, whichever is greater

Annual fee the first year $0

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 20,000 points

Annual points cap uncapped

Bonus points spend criteria when you spend $500 or more on eligible purchases within 60 days of approval

Earning points with this card

Flybuys Rewards points 2 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

No international transaction fees on purchases when you shop online or overseas

Overview

Coles Rewards Mastercard

A Coles Rewards Mastercard is a fast way to collect Flybuys points. Receive 20,000 bonus Flybuys Points when you spend $500 or more on eligible purchases within 60 days of approval. Save on fees with no annual fee in the first year and no international transaction fee on purchases when you shop online or overseas. Get 0% p.a. on balance transfers for 18 months (A 1.5% balance transfer fee applies. Reverts to Cash Advance rate). No interest free days apply while you have a balance transfer.

Key features

  • Receive 20,000 bonus Flybuys points when you spend $500 or more on eligible purchases within 60 days of approval
  • 0% p.a. for 18 months on balance transfers. 1.5% Balance Transfer fee applies. Reverts to Cash Advance rate. No interest free days apply while you have a balance transfer.
  • No international transaction fee on purchases when you shop online or overseas
  • $10 instant off your Coles Supermarket shop when you redeem 2,000 Flybuys points in-store at checkout
  • Collect 2 Flybuys points for every $1 spent on eligible transactions
  • Up to 55 days interest free on purchases if you do not have a balance transfer
  • Pay no annual fee in the first year, $99 thereafter
  • Interest rate of 19.99% p.a. on purchases and cash advances

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.

61 questions (showing the latest 10 Q&As)

Megan Moat

Megan Moat

6 April 2021
Can I apply if i have had a Coles master card in last 12 months? Thank you :)
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    7 April 2021
    Hi Megan, there is nothing in the terms & conditions that say you can't. It reads "Offer available to new customers only who apply for a Coles Rewards Mastercard by 30 June 2021" under the balance transfer conditions. And "To receive the 20,000 bonus flybuys Points, you must apply for a Coles Rewards Mastercard by 30 June 2021, then spend $500 or more on eligible retail purchases in the first 60 days of the Account approval date. This offer cannot be used in conjunction with any other offer." relating to the 20,000 bonus Flybuys points. If you have concerns about your eligibility, you can contact Coles directly at 1300 306 397.

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