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Coles No Annual Fee Mastercard

Purchase rate
19.99% p.a.
Balance transfer rate
0% p.a. for 18 months and then 19.99% p.a. (1.50% balance transfer fee)
Annual fees
$0
Interest free days on purchases
55

Mozo editorial review Coles No Annual Fee Mastercard

Last updated: 20 February 2020.

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What's hot
  • No annual fee
  • 1 flybuys point per $2 on eligible spends
  • 0% balance transfer rate for 6 months (reverts to 19.99% cash advance rate, 1.5% BT fee)
What's not
  • $30 late payment fee
Mozo snapshot

The Coles No Annual Fee Mastercard is one of the few cards in the market which comes with a mobile wallet feature which lets you keep track of flybuys points and activate offers with your phone. It also has no annual fee, a low 12.99% purchase rate (19.99% p.a. cash advance rate) and you can earn flybuys points on your spending.

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Key features

The Coles No Annual Fee Mastercard is linked to the flybuys program so you'll collect 1 point per $2 on eligible spends, plus you'll also earn the usual points at select partners. Points are uncapped and won't expire so you can save them up or choose to use them as soon as you've accumulated enough for a reward. For instance, 2,000 points buys you $10 off your shop at Coles.

The card has PayPass functionality so you can tap and go for purchases under $100. The card is also accepted wherever Mastercard is, so you can use your card for the weekly grocery shop or at overseas boutiques. There is a 2.5% overseas transaction fee for all international purchases and cash advances (including a visit to the ATM), whether made in person or online.

If you are interested in transferring debt from one card to another, you'll want to make sure there's not a hefty balance transfer rate. With the Coles No Annual Fee Mastercard, you'll have 6 months to pay off any debt transferred without paying interest (1.5% BT fee applies).

Just keep in mind, after 6 months any transferred balance still left on your card will start attracting interest at the 19.99% cash advance rate. Plus, you won't have any interest free days on new purchases while you're taking advantage of the balance transfer offer.

One last thing - terms and conditions apply to all these offers, so just beware the fine print and make sure you know what you're signing on to.

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Who is it good for

The Coles No Annual Fee Mastercard is a great way to access a credit card rewards program with $0 ongoing annual fee.

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Any catches

Set up those regular automatic repayments or you will be hit with a $30 late payment fee.

Rewards program details

Rates and fees information correct as at 29 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.
What your points get you

Fly Sydney to London return

274,943 points

Fly Sydney to Melbourne one-way

17,931 points

$100 Giftcard

20,000 points

$100 Cash

-

Points earning

0.5 points per dollar on Mastercard, uncapped

Rewards scheme

Earn 1 flybuys point per $2 on eligible spend

Earn an additional 1 point per dollar spent at Coles and other Flybuys partners when your card is scanned.

Value of rewards points

Spend $40,000 (Mastercard)

Spend $35,862 (Mastercard)

Spend $549,885 (Mastercard)

Uncapped

Never

How do we calculate the rewards?

To work out the "Rewards value minus fees" in our Rewards Revealer we:

  • calculate how many points you'd get each year,

  • figure out how many flights or gift cards or cashback credits you could get for those points,

  • work out what that's actually worth to you,

  • take off the annual fee you'd pay.

More details:

  • Our calculations are designed to help you compare the value of different rewards schemes. To do this, we've looked at earning a one-way Sydney-Melbourne flight excluding taxes and charges, a return Sydney-London flight excluding taxes and charges, a $100 shopping Gift Card and $100 cashback. Most cards will also offer other rewards, which may be worth more or less than the ones we've shown.

  • We have made no allowance for bonus points for using your card at specific merchants, introductory offers or special offers. We have not assigned any value to instant discounts, insurances, ticketing and concierge services or other such benefits.

  • Rewards value calculations do not take credit card interest into account. If you do not pay off your card each month you may be better off looking for a card based on interest rates than on the value of rewards.

  • In products that have more than one card, a different mix of spend between American Express / Visa / Mastercard will give different results. Mozo's Rewards Revealer lets you choose the mix based on the way you would use such a product, and gives you tailored results.

  • We assume flights purchased with airline points are 'classic' or 'reward' economy seats with restricted seat availability. 'Any seat' rewards will probably cost more.

  • To compare the value of flight rewards, we sample online retail flight prices once a quarter based on the average price on a Wednesday 3 months in advance but outside NSW school holidays. For domestic flights we take the lowest available fare from each flight on that day from Qantas Red e-deal, Virgin Australia Saver including baggage and Jetstar Starter including baggage. We calculate the average price excluding taxes and surcharges for each airline, and also the average across all airlines (which we use when rewards are travel agent vouchers). For international flights, we take the lowest available fares on that same Wednesday from each of Qantas, Emirates, Malaysian, Etihad, Singapore, Cathay Pacific and Thai, assuming a return flight 2 weeks later, calculate the average price before taxes and surcharges and use this as our assumed cost of a flight on any airline.

  • Shopping rewards are based on $100 gift cards from a major national department store.

  • We make every effort to ensure our calculations are correct and up to date but make no guarantees.

Close

Rate and fee details

Rates
  • 19.99% p.a.

  • none

  • 0% p.a. for 18 months and then 19.99% p.a. (1.50% balance transfer fee)

  • yes

  • 19.99% p.a.

  • 55

Fees
  • $0.00

  • 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

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 No Annual Fee Mastercard

  • Overall 1/10
    Exploit people on credit rating.

    I made one of the biggest mistakes in getting a Coles credit card. They are the worst ever service I have ever used. Their verification team can torture you anytime whenever they want. First they will approve your application and send you a message that you will receive a credit card soon. This will be marked in your credit history file now. And they start exploiting this point. After your application is approved their verification team will call you daily and ask for very niche and personal documents and they even want access to your job's manager and HR dept as well. And as a threat they say "This will impact your credit history if you don't do it now". Once you get the credit card you activate it but they then block it for further verifcations. And you have to call them time and time again to get it reactivated. Every time you call a new person it's a new story and another 24 hours. Someone who is concerned and doesn't want to mess his credit file history should never opt this service.

    Read full review

    I made one of the biggest mistakes in getting a Coles credit card. They are the worst ever service I have ever used. Their verification team can torture you anytime whenever they want. First they will approve your application and send you a message that you will receive a credit card soon. This will be marked in your credit history file now. And they start exploiting this point. After your application is approved their verification team will call you daily and ask for very niche and personal documents and they even want access to your job's manager and HR dept as well. And as a threat they say "This will impact your credit history if you don't do it now". Once you get the credit card you activate it but they then block it for further verifcations. And you have to call them time and time again to get it reactivated. Every time you call a new person it's a new story and another 24 hours. Someone who is concerned and doesn't want to mess his credit file history should never opt this service.

    Price
    1/10
    Features
    1/10
    Customer service
    1/10
    Convenience
    1/10
    Trust
    1/10
    Less
    Muhammad, Victoria reviewed 25 days ago
  • Overall 7/10
    Excellent no annual fee credit card

    I love the fact that there is no annual fee. Also the fact that it is linked to the Flybuys account so you can accumulate faster. I also love the look of the card as well, great colour choice. The only downside would be the interest charged, but with all credit cards if you don't pay on time you will be charged a hefty interest fee.

    Read full review

    I love the fact that there is no annual fee. Also the fact that it is linked to the Flybuys account so you can accumulate faster. I also love the look of the card as well, great colour choice. The only downside would be the interest charged, but with all credit cards if you don't pay on time you will be charged a hefty interest fee.

    Price
    8/10
    Features
    9/10
    Customer service
    8/10
    Convenience
    10/10
    Trust
    8/10
    Less
    Susannah, Victoria reviewed about 1 month ago
  • Overall 8/10
    Good option for normal spenders

    Given their annual fees, most credit card point schemes are worthless to people on normal incomes who can't siphon huge amounts of spending through their credit card. However, if you are disciplined about paying the balance of your card every month, the Coles No Annual Fee Mastercard will actually give you some benefits. The amount of flybuys you receive works out to 0.5% cashback, which you can then spend on (e.g.) groceries at Coles.

    Read full review

    Given their annual fees, most credit card point schemes are worthless to people on normal incomes who can't siphon huge amounts of spending through their credit card. However, if you are disciplined about paying the balance of your card every month, the Coles No Annual Fee Mastercard will actually give you some benefits. The amount of flybuys you receive works out to 0.5% cashback, which you can then spend on (e.g.) groceries at Coles.

    Price
    8/10
    Features
    8/10
    Customer service
    8/10
    Convenience
    8/10
    Trust
    6/10
    Less
    Rory, Queensland reviewed 4 months ago
  • Overall 8/10
    As advertised, a reliable no-fee card

    As advertised. A reliable no-fee card that has served me well for many years now. Good online portal and great customer service.

    Read full review

    As advertised. A reliable no-fee card that has served me well for many years now. Good online portal and great customer service.

    Price
    8/10
    Features
    8/10
    Customer service
    8/10
    Convenience
    8/10
    Trust
    8/10
    Less
    Andrew, New South Wales reviewed 5 months ago
  • Overall 8/10
    No annual fee and good product features.

    No annual fee, good product features and great customer service.

    Read full review

    No annual fee, good product features and great customer service.

    Price
    6/10
    Features
    8/10
    Customer service
    8/10
    Convenience
    8/10
    Trust
    8/10
    Less
    Niroshan, Victoria reviewed 6 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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