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Coles Rewards 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
$99
Interest free days on purchases
55

Mozo editorial review Coles Rewards Mastercard

Last updated: 20 February 2020.

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What's hot
  • Multiple 2019 Mozo Experts Choice Awards winner
  • 0% p.a. on balance transfers for 6 months (Reverts to cash advance rate, 1.5% BT fee)
What's not
  • $30 late payment fee
Mozo snapshot

Help your rewards points fly higher with the 2019 Mozo Experts Choice Credit Card Award winning Coles Rewards Mastercard that earns you 2 juicy flybuys points per $1 on eligible spends, plus a bonus 1 point per $1 spent when you also scan your flybuys card at the Coles checkout. The great thing is the points are uncapped and never expire, so you can save them up for as long as you like! And you'll receive this competitive flybuys points program without the high price tag, with a low $99 annual fee. 

It's not only designed for shopping in Australia but is also a top choice for travel with no foreign exchange fee on overseas purchases. Mozo's experts ranked it as one of the market's best travel credit cards in the 2019 Mozo Experts Choice Travel Money Awards.

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Key features

While the Coles Rewards Mastercard has a standard purchase rate of 19.99%, you'll have plenty of breathing room to pay off your balance, with up to 55 interest free days. 

As expected the Coles Rewards Mastercard is linked to the Coles’s flybuys scheme earning you 2 flybuys points per $1 on eligible spends and an additional 1 point per $1 spent at Coles and other flybuys partners when you scan your flybuys card. Once you've clocked up 2,000 flybuys points you can redeem $10 off your shopping at Coles Supermarkets.

This card is also really convenient - it's like having your Coles Rewards Mastercard and flybuys all in one. All you need to do to claim your flybuys points at the checkout is scan the flybuys barcode on the back of your card. Easy!

As part of the Mastercard network you can use it wherever Mastercard cards are accepted worldwide and pay via "tap and go" for purchases under $100 with Mastercard PayPass.

This is also a great card to take with you on your next overseas trip or shop online at international stores as there are no international transaction fees on purchases made with the card, which is why it took out an award in the 2019 Mozo Experts Choice Travel Money Awards.

And if you want to blast away a niggling balance before starting your spending, there is a 0% balance transfer rate for 6 months on offer (1.5% BT fee applies). Just keep in mind that any remaining balance after the 6 months are up will start attracting interest at the higher 19.99% cash advance rate, and while you're using the balance transfer offer, you won't get any interest free days on new purchases made on the card.

Finally, just a reminder 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 Rewards Mastercard is great for those looking to earn juicy flybuys points on their everyday shop.

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Any catches

While you'll get $10 off your shopping at Coles Supermarkets when you redeem 2,000 flybuys points, keep in mind Coles Express, and Coles Online are excluded.

Rewards program details

Rates and fees information correct as at 26 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

2 points per dollar on Mastercard, uncapped

Rewards scheme

Collect 2 flybuys point per $1 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 $10,000 (Mastercard)

Spend $8,966 (Mastercard)

Spend $137,471 (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.

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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
  • $99.00

  • none

  • none

  • none

  • $30.00

  • 3%, Min $1.95

  • 0%

  • $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,
Purchase Protection

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 Rewards Mastercard

  • Overall 2/10
    Be careful topping up the credit card account!

    1) When I first applied for this card it was a no yearly fee card. When it was passed on to Citibank I now have to pay $99 per year. Not so good. 2) I arranged for a monthly direct debit from my bank account to pay the full balance each month. Last month my expected expenses were quite high so I paid $3500 into the credit card account at the beginning of the month so that there would be no chance of being overdrawn. Citibank still took the full end of month balance, $6000+ out of my bank account. Not the balance less $3500. But my bank did not have enough funds to cover that withdrawal. What a mess. When I rang to complain they said "Well, that's what we do." They did offer to refund the $3500. Not so happy!

    Read full review

    1) When I first applied for this card it was a no yearly fee card. When it was passed on to Citibank I now have to pay $99 per year. Not so good. 2) I arranged for a monthly direct debit from my bank account to pay the full balance each month. Last month my expected expenses were quite high so I paid $3500 into the credit card account at the beginning of the month so that there would be no chance of being overdrawn. Citibank still took the full end of month balance, $6000+ out of my bank account. Not the balance less $3500. But my bank did not have enough funds to cover that withdrawal. What a mess. When I rang to complain they said "Well, that's what we do." They did offer to refund the $3500. Not so happy!

    Price
    5/10
    Features
    5/10
    Customer service
    1/10
    Convenience
    5/10
    Trust
    1/10
    Less
    Inez, Victoria reviewed 15 days ago
  • Overall 4/10
    Good interest rate

    High interest rate.

    Read full review

    High interest rate.

    Price
    0/10
    Features
    8/10
    Customer service
    7/10
    Convenience
    10/10
    Trust
    9/10
    Less
    Heather, South Australia reviewed 3 months ago
  • Overall 7/10
    Rewards add up quickly and great customer service.

    I like the rewards side of this card, because the amount I can redeem for throughout the year offsets the annual fee. The one thing I do dislike about this card is that they removed the option to pay it off over the counter. Having said that, one end of month I didn't transfer the money in time and got a $30 late fee, which was waived after calling them.

    Read full review

    I like the rewards side of this card, because the amount I can redeem for throughout the year offsets the annual fee. The one thing I do dislike about this card is that they removed the option to pay it off over the counter. Having said that, one end of month I didn't transfer the money in time and got a $30 late fee, which was waived after calling them.

    Price
    6/10
    Features
    8/10
    Customer service
    9/10
    Convenience
    5/10
    Trust
    7/10
    Less
    Jan, South Australia reviewed 5 months ago
  • Overall 7/10
    Competitive Annual , rewarding, and easy to track.

    It's cheap. Interest rates are not a factor because I settle before interest becomes due. Fly buys gives me $10 every few weeks. Helps stretch the budget and while I'm not that far ahead after annual fee, I am ahead.

    Read full review

    It's cheap. Interest rates are not a factor because I settle before interest becomes due. Fly buys gives me $10 every few weeks. Helps stretch the budget and while I'm not that far ahead after annual fee, I am ahead.

    Price
    7/10
    Features
    7/10
    Customer service
    3/10
    Convenience
    -1/10
    Trust
    6/10
    Less
    Archie, New South Wales reviewed 5 months ago
  • Overall 7/10
    A reliable, feature-rich card that can be of value

    A quick way to ensure you get some points just by doing your shopping and buying your fuel at Coles. It had a 0.0% balance transfer feature when I got it, as well as a long interest free period for purchases, so the features made this really worthwhile for a period of time.

    Read full review

    A quick way to ensure you get some points just by doing your shopping and buying your fuel at Coles. It had a 0.0% balance transfer feature when I got it, as well as a long interest free period for purchases, so the features made this really worthwhile for a period of time.

    Price
    7/10
    Features
    9/10
    Customer service
    3/10
    Convenience
    7/10
    Trust
    9/10
    Less
    Nathan, Victoria reviewed 10 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.

See Coles credit cards

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