Thumbnail icon for Coles

Coles Low Rate Mastercard

Purchase rate
12.99% p.a.
Balance transfer rate
0% p.a. for 6 months and then 19.99% p.a.
Annual fees
$58
Interest free days on purchases
55

Mozo editorial review Coles Low Rate Mastercard

Last updated: 3 February 2020.

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What's hot
  • 1 flybuys point per $2 spent at Coles Supermarkets
  • 0% on balance transfers for 6 months (reverts to 19.99% cash advance rate)
What's not
  • $30 late payment fee
Mozo snapshot

The new Coles Low Rate Mastercard combines a Mastercard and a flybuys card into one very convenient piece of plastic, with a low rate of 12.99% on regular purchases (19.99% cash advance rate) with 0% p.a. on balance transfers for 6 months. It also has a rewards scheme where you can earn 1 flybuys point per $2 you spend on the card at Coles Supermarkets.

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Key features

It’s not only the competitive purchase rate and low $58 annual fee that makes this credit card attractive, there's also a tonne of points earning potential and convenience on offer.

The Coles Low Rate Mastercard card is linked to the Coles flybuys scheme so you'll earn 1 flybuys points per $2 you spend at Coles Supermarkets. Plus when you scan your flybuys barcode you’ll also earn normal flybuys points (1 point for every $1 spent) helping you to clock up rewards faster. Every time you redeem 2000 flybuys points at the checkout you get $10 off your shop instantly.

Tech savvy cardholders can also use the Coles Mobile Wallet App to view and activate flybuys offers on their phone, plus keep track of spending.

You’ll be able to use your Coles Low Rate Mastercard wherever Mastercard is accepted worldwide but just be aware you’ll be charged a 2.50% overseas transaction fee for all international purchases and cash advances (which includes hitting up the ATM), whether made in person or online. The card is also chip enabled so you can use the Mastercard PayPass functionality and “tap and go” for purchases under $100.

If you're looking to clear debt, the Coles Low Rate Mastercard is offering a 0% balance transfer offer for 6 months.

For regular purchases, it comes with up to 55 interest free days as long as you pay your balance off in full each month. Just remember that if you're taking advantage of the 0% balance transfer rate, no interest free days apply to new purchases. Another thing to keep in mind about this offer, is that if you've got some of that transferred balance left over at the end of the balance trasnfer period, it will start attracting interest at the higher 19.99% cash advance rate, so make sure you have a payment plan in place!

One last thing - keep in mind that terms and conditions apply to all these offers, so make sure you read the fine print carefully!

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Who is it good for

The Coles Low Rate Mastercard is an ideal credit card for the loyal Coles shopper who is looking for a low rate card and the opportunity to rack up some rewards on their weekly supermarket trip.


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Any catches

You can only get $10 off your shop when you redeem 2,000 flybuys point at the supermarket checkout, it does not apply to Coles Express or Coles Online.

Set up automated repayments on the due date or you could be up for a $30 late payment fee. There is also a $2.25 fee when you pay your account at Australia Post and you’ll be charged $2.00 for every paper credit card statement you receive - so avoid this fee by opting to receive your statements and make payments online.

Details

Rates and fees information correct as at 21 September 2020 Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 12.99% p.a.

  • none

  • 0% p.a. for 6 months and then 19.99% p.a.

  • yes

  • 19.99% p.a.

  • 55

Fees
  • $58.00

  • none

  • none

  • none

  • $30.00

  • 3%, Min $1.95

  • 2.50%

  • $2.00

  • $0.00

  • $0.00

Features
  • $30.00

  • 2.0

  • 4

  • See Coles Credit Cards website for a full list of fees and charges

Payment options

Apple Pay, Samsung Pay, PayTag

Rewards privileges

Concierge

Other benefits

Collect 1 flybuys point per $2 you spend at Coles Supermarkets.

Customer Reviews

How are Coles credit cards rated by the Mozo community?

Overall
6.5/10
Price
5.9/10
Features
6.5/10
Customer service
6.3/10
Convenience
6.8/10
Trust
6.6/10

Latest reviews of Coles Low Rate Mastercard

  • Overall 1/10
    Won’t recommend this, better use others

    Low rate credit card but very low on customer service and not transparent. For more than two years now, still not able to register online, can’t see any statement or any transaction. They’ll only send me a notice when my account is overdue, the thing is life is so busy I can’t have a track of what’s going on in that account. I even stopped using it for a long time. Called them many times and every time nobody can help me just to register my account online, so I can have access and be able to see what’s going on in my account. Will be closing that card very soon, been thinking about it for a long time but keep forgetting to deal with it. And won’t be using them again anymore. I don’t recommend Coles Credit Card at all, better you guys look for somewhere else where you’re able to see your transaction online and where there’s transparency.

    Read full review

    Low rate credit card but very low on customer service and not transparent. For more than two years now, still not able to register online, can’t see any statement or any transaction. They’ll only send me a notice when my account is overdue, the thing is life is so busy I can’t have a track of what’s going on in that account. I even stopped using it for a long time. Called them many times and every time nobody can help me just to register my account online, so I can have access and be able to see what’s going on in my account. Will be closing that card very soon, been thinking about it for a long time but keep forgetting to deal with it. And won’t be using them again anymore. I don’t recommend Coles Credit Card at all, better you guys look for somewhere else where you’re able to see your transaction online and where there’s transparency.

    Price
    1/10
    Features
    1/10
    Customer service
    1/10
    Convenience
    1/10
    Trust
    1/10
    Less
    Daisy, New South Wales reviewed about 2 months ago
  • Overall 1/10
    Appalling

    Appalling. Not transparent and complicated. Stay clear!

    Read full review

    Appalling. Not transparent and complicated. Stay clear!

    Price
    2/10
    Features
    1/10
    Customer service
    1/10
    Convenience
    4/10
    Trust
    1/10
    Less
    Sarah, Victoria reviewed about 2 months ago
  • Overall 1/10
    Never ever will use it.

    Through years I have used many credit cards but I would never ever use it again I wouldn't recommend it to anyone I know as they are not transparent and dishonest.

    Read full review

    Through years I have used many credit cards but I would never ever use it again I wouldn't recommend it to anyone I know as they are not transparent and dishonest.

    Price
    -1/10
    Features
    2/10
    Customer service
    0/10
    Convenience
    0/10
    Trust
    0/10
    Less
    Ish, Victoria reviewed 3 months ago
  • Overall 0/10
    Don't trust.

    Not trustworthy. I would not advise thise credit card to anyone.

    Read full review

    Not trustworthy. I would not advise thise credit card to anyone.

    Price
    1/10
    Features
    1/10
    Customer service
    0/10
    Convenience
    2/10
    Trust
    0/10
    Less
    Jack, Victoria reviewed 6 months ago
  • Overall 0/10
    Not the best product.

    Making BPAY payments to the account takes too long, up to 4 days where as most other banks are instant. Furthermore, you do not have the option to reduce your card limit online and have to call customer service with poor English-language.

    Read full review

    Making BPAY payments to the account takes too long, up to 4 days where as most other banks are instant. Furthermore, you do not have the option to reduce your card limit online and have to call customer service with poor English-language.

    Price
    10/10
    Features
    10/10
    Customer service
    0/10
    Convenience
    0/10
    Trust
    0/10
    Less
    Emma, New South Wales reviewed 9 months ago
Coles

About Coles

The Coles Mastercards are part of the Coles Group, owners of the well-known Australian Coles supermarkets. These cards offer a wide range of savings and rewards on everyday purchases.

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