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Coles Low Rate Mastercard
Coles Low Rate Mastercard

Coles Credit Cards

Coles Low Rate Mastercard

Updated 1 October 2021

Save on interests with Coles Low Rate introductory offers - 0% p.a. on purchases (12.99% thereafter) PLUS 0% p.a. on balance transfers for the first 12 months with no balance transfer fee (reverts to Cash Advance rate). Collect 1 point for every $2 you spend at Coles Supermarkets.

T&Cs apply. Offer ends 31 January 2022

Purchase Rate (p.a)

0% p.a.

for up to 12 months. Reverts to 12.99% p.a.

Balance Transfer (p.a)

0% for 12 months No balance transfer fee.
Reverts to 19.99% p.a.

Annual Fee (p.a)

$58

$0 over 12 months

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • 0% p.a. on purchases in the first year, then 12.99% thereafter.
  • 0% p.a. on balance transfers for 12 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
  • $58 annual fee
  • 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

  • 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 two-part introductory offer - 0% p.a. on purchases and 0% p.a. on balance transfers for the first 12 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 0% p.a. on purchases and balance transfer intro offer. If you happen to have existing debt on other credit cards that you're trying to pay off but you also need to make new purchases, 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 outstanding retail purchase balance (and new retail purchases), will attract the standard purchase rate, currently 12.99% p.a. while 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 Coles Low Rate Mastercard by 31 January 2022. The 0% promotional rate on purchases will be applied to your retail purchases for 12 months from the date your account is approved while the 12-month balance transfer 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, 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 for an 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.

Introductory purchase rate 0% p.a. for up to 12 months

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 12 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

Banks you can't balance transfer from 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

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

Overview

Coles Low Rate Mastercard

Enjoy money-saving 0% p.a. on purchases and 0% p.a. on balance transfers for the first 12 months introductory offers and some great features, 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 in-store.

Key features

  • 0% p.a. on purchases in the first year, then 12.99% thereafter.
  • 0% p.a. on balance transfers for 12 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
  • $58 annual fee
  • 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.

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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