No Annual Fee Mastercard card image

Coles No Annual Fee Mastercard

Advertiser disclosure
Purchase rate
19.99% p.a.
Balance transfer rate
0% p.a. for 12 months and then 19.99% p.a.
Annual fees
Interest free days on purchases

Mozo editorial review Coles No Annual Fee Mastercard - last updated: 5 October 2021

binocular icon
What's hot
  • No annual fee
  • 1 flybuys point per $2 on eligible spends
  • 0% balance transfer rate for 12 months (reverts to cash advance rate after)
  • 2020 Mozo Experts Choice Award winner
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 19.99% purchase rate, and you can earn flybuys points on your spending.

For those looking to clear their existing debt, this card won a 2020 Mozo Experts Choice Award in the best Balance Transfer Credit Card category. In fact, for the first 6 months, you won't be charged any balance transfer rate or balance transfer fee.

key icon
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.

Just keep in mind that after 12 months any transferred balance still left on your card will start attracting interest at the 19.99% cash advance rate. 

One last thing - terms and conditions apply to all these offers, so just be aware of the fine print and make sure you know what you're signing up for.

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.

question icon
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 23 January 2022. 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

239,200 points

Fly Sydney to Melbourne one-way

15,600 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 $31,200 (Mastercard)

Spend $478,400 (Mastercard)



How do we calculate these points?
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.


Rate and fee details


19.99% p.a.


0% p.a. for 12 months and then 19.99% p.a.


19.99% p.a.








3%, Min $1.95









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

Payment options

Apple Pay, Samsung Pay

Rewards privileges


Other benefits

$150 off in-store purchases at a Coles Supermarket when you spend $1,000 on eligible purchases within the first 60 days. To redeem the offer pay with the Coles Rewards Mastercard and scan your Flybuys barcode. Apply by 31 January 2022.

Customer Reviews

How are Coles credit cards rated by the Mozo community?

Customer service

Latest reviews of Coles No Annual Fee Mastercard Credit Card

About Coles