Rewards Mastercard card image
Mini meca 2021

Coles Rewards 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 Rewards Mastercard - last updated: 29 April 2022

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What's hot
  • 2021 Mozo Experts Choice Awards winner
  • 40,000 bonus flybuy points (T&Cs apply)
  • 0% on balance transfers for 12 months (T&Cs apply)
What's not
  • $30 late payment fee
Mozo snapshot

Help your rewards points fly higher with the 2021 Mozo Experts Choice Credit Card Award winning Coles Rewards Mastercard, which gets you 2 flybuys points per $1 on eligible spends for the first $3,000 (and 1 point thereafter). The great thing is the points are uncapped and never expire, so you can save them up for as long as you like! Plus, for those that apply by 31 July 2022 there are 40,000 bonus flybuy points up for grabs if you spend at least $3,000 on eligible purchases within 90 days of approval. It's no wonder the card won the award for best Rewards Credit Card!

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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. And if you apply by 31 July 2022, you could receive 40,000 bonus flybuy points if you spend $3,000 or more on eligible purchases within 90 days of approval. 

You can also enjoy 0% p.a. on balance transfers for the first 12 months, so long as you apply by 31 July 2022. (T&Cs apply) 

Speaking of points, the Coles Rewards Mastercard is linked to the Coles flybuys scheme, earning you 2 flybuys points per $1 on eligible spending for the first $3,000 (and 1 point per $1 thereafter). Once you've clocked up 2,000 flybuys points you can redeem $10 off your shopping at Coles Supermarkets.

Bear in mind that eligible purchases exclude Cash Advances, Balance Transfers, Special Promotions, BPAY payments, purchases of foreign currency and travellers cheques, transactions made in operating a business, bank fees and charges such as interest and ATM charges.

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.

Finally, just a reminder that terms and conditions apply to all these offers, so make sure you read the fine print carefully!

Who is it good for

The Coles Rewards Mastercard is great for fans of the flybuys program and those looking to earn 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 17 May 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

2 points per dollar on Mastercard, up to $3,000 per month, then
1 point 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.

Special offers

Receive 40,000 flybuys Points when you spend $3,000 on eligible purchases in the first 90 days of card approval.

Value of rewards points

Spend $10,000 (Mastercard)

Spend $7,800 (Mastercard)

Spend $203,200 (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

Purchase Protection

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