Coles Rewards Mastercard

19.99% p.a.

0% p.a. for 16 months and then 19.99% p.a.

$99

Coles Rewards Mastercard Review

Rates and fees information correct as at 24 April 2018.

Review published: 17 August 2015

What's hot:

  • Multiple Mozo Experts Choice Awards Winner 2017

  • 2 flybuys points per $1 on eligible spends

  • No international transaction fee on purchases

What's not:

  • $10 late payment fee

Mozo snapshot:

Help your rewards points fly higher with the 2017 Mozo Experts Choice 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 doing the grocery shop at Coles. 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 and best rewards travel credit cards in the 2017 Experts Choice Travel Money Awards.

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. Once you've clocked up 2,000 FlyBuys points you can redeem $10 off your shopping at Coles Supermarkets. 

With two cards on the one account - a Mastercard for convenience and flybuys for points value - you'll free up space in your wallet by carrying one card instead of two. And get the help of your family to boost your rewards points count with the additional card holder option at no extra cost.

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.

It is a good card to take with you on your next overseas trip or shop online at international stores as there is no international transaction fee with the card, which is why it took out two awards in the Mozo Experts Choice Travel Money Awards.

Who it's good for:

The Coles Rewards Mastercard is great for those looking to earn juicy flybuys points on their everyday shop.

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.

How are Coles credit cards rated by the Mozo community?

Product Type Overall Rating Price Features Service Convenience Trust
6.8

Based on 156
Coles credit cards reviews

6.2 6.6 6.5 7.0 6.8

Read Coles credit card reviews by the Mozo community

Latest reviews of Coles Rewards Mastercard

Coles

Coles Rewards Mastercard credit card review

Overall rating   10 / 10

Best ever

Love the fact it linked in with flybuys

Full review

Love the fact it linked in with flybuys

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Patricia (QLD), reviewed about 2 years ago

Coles

Coles Rewards Mastercard credit card review

Overall rating   5 / 10

Use for rewards program & pay by due date

Pros: best and easiest rewards program, up to 30 days interest free, online access to account & statement. Cons: high interest charges plus excessive late charges. customer service is sometimes off shore - don't understand the accents.

Full review

Pros: best and easiest rewards program, up to 30 days interest free, online access to account & statement. Cons: high interest charges plus excessive late charges. customer service is sometimes off shore - don't understand the accents.

    Price   3 / 10

    Features   9 / 10

    Customer service   3 / 10

    Convenience   5 / 10

    Trust   3 / 10

Less

Tee (QLD), reviewed about 2 years ago

Coles

Coles Rewards Mastercard credit card review

Overall rating   6 / 10

Good service.

Trustworthy bank, but website not that user friendly.

Full review

Trustworthy bank, but website not that user friendly.

    Price   5 / 10

    Features   5 / 10

    Customer service   6 / 10

    Convenience   6 / 10

    Trust   6 / 10

Less

Sam (SA), reviewed about 2 years ago

Coles

Coles Rewards Mastercard credit card review

Overall rating   7 / 10

Good offer

I like it because of the flybuys points offered which I can then redeem by buying in Coles supermarket

Full review

I like it because of the flybuys points offered which I can then redeem by buying in Coles supermarket

    Price   5 / 10

    Features   7 / 10

    Customer service   5 / 10

    Convenience   5 / 10

    Trust   6 / 10

Less

Florinda (VIC), reviewed over 2 years ago

Coles

Coles Rewards Mastercard credit card review

Overall rating   9 / 10

Overall, a credit-card with which you are safe.

While the interest on the card is pretty much the same as any other credit-card, the company is so very careful with their security that I would not ever have a concern with them, I am sure. They have the best security team I have ever dealt with...

Full review

While the interest on the card is pretty much the same as any other credit-card, the company is so very careful with their security that I would not ever have a concern with them, I am sure. They have the best security team I have ever dealt with in regards to credit-cards.

    Price   8 / 10

    Features   7 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Gillian (QLD), reviewed over 2 years ago

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

Revealing rewards

How do we do it?

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.

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.

Privileges

  • Concierge
  • Purchase Protection

Value of rewards points

  • Need to spend $10,000 (Mastercard)

  • Need to spend $8,966 (Mastercard)

  • Need to spend $137,471 (Mastercard)

  • Uncapped

  • Never

Details behind our 'value of rewards' calculations

  • 2 points per dollar on Mastercard, uncapped

  • 20000 points buys a $100 off at Coles

  • 1 points buys 0.435 Velocity Points; 7800 Velocity Points buys a Virgin Australia Sydney-Melbourne flight

  • 1 points buys 0.435 Velocity Points; 119600 Velocity Points buys a Velocity partner Sydney-London flight

* How did we do it? Find out...

Rates

  • 19.99% p.a.

  • none

  • 0% p.a. for 16 months and then 19.99% p.a.

  • yes

  • 19.99% p.a.

  • 55

Fees

  • $99.00

  • none

  • none

  • none

  • $10.00

  • 3%, Min $1.95

  • 0%

  • $0.00

  • $0.00

  • $10.00

Other financial bits

  • $30.00

  • 2.0

Features

  • yes

  • none

  • none

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.

**Saving based on the average difference in fees and charges over 3 years between the most competitive product Mozo can refer a consumer to and the average credit card product input by 6,863 consumers (average balance of $4,262 or balance transfer balance of $5,818, interest rate of 19.6% and annual fee of $36.50) who used the Mozo Credit Card Health Check tool between 1 January 2012 to July 2012.

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