Coles Low Rate Mastercard

What do you want this card for?
Save money
Earn points
My monthly spend: 
Card features
Rewards program
Earn rate
Sign up bonus
Points earned
Low ongoing purchase rate of 12.99% p.a.
Low annual fee of $58 p.a.
Collect 1 flybuys point for every $2 you spend at Coles Supermarkets.
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Pros & cons

What's good?

What's not so good?

Low ongoing 12.99% p.a. interest rate on purchases.
Low annual fee of $58 p.a.
Collect 1 flybuys point per $2 you spend at Coles Supermarkets on your Coles Low Rate Mastercard.
Get $10 off your Coles Supermarket shop, instantly at the till, every time you redeem 2,000 flybuys points.
Free delivery when you shop at Coles online every time your spend $100 or more with your Coles Low Rate Mastercard at Coles online.
Checkout faster using Mastercard contactless.
Late payment attracts a $10 every 7 days.

Our review

Our review of the Coles Low Rate MastercardReviewed by Yvonne Taylor

If, like more than 30% of Australians, you do most of your shopping at Coles, you’d be mad not to give some serious consideration to the Coles Low Rate Mastercard. With a low minimum income requirement of $25,000 and credit limits starting at a manageable $2,000, this card is ideal as either a starter credit card or a permanent way to maximise your flybuys points. And if you do hit a bump in the road with your repayments, it has one of Australia’s lowest credit card purchase interest rates.

Low 12.99% p.a. purchase interest rate

Many credit cards have purchase interest rates of over 20% p.a. This is the interest rate you will pay on your previous month’s credit card purchases, and all future credit card purchases, if you are unable to pay the full balance of your account on or before the monthly payment due date. So it’s a pleasant surprise to find a credit card with a purchase interest rate as low as 12.99% p.a. It may not be as low as mortgage or even personal loan interest rates, but it can mean the difference between being able to get on top of your repayments or falling into long term debt.

Interest-bearing credit card debt, incurred when you miss or fall short of full monthly repayments, is best avoided. But if you think you may find yourself in temporary financial difficulties, it’s far better to have a Coles Low Rate Mastercard than a card which will add 20% p.a. or more to your debt, compounded daily.

Fairly standard domestic cash advance rate

The card’s low rate does not extend to the domestic cash advance rate, which is a credit-card-normal 19.99% p.a. This is the interest rate applicable to any cash you withdraw against your credit limit, at an ATM or a supermarket checkout for example, and it is applied from the date you take the cash advance until the date you repay it in full.

Earn extra flybuys points to add to standard points earned at Coles

Like most regular Coles shoppers, you probably know that you can already earn one flybuys point per dollar on your supermarket spending, no matter how you pay at the checkout – with cash or with any card. So why not bump up that points earning rate by 50%, just by paying with a Coles Low Rate Mastercard? You’ll get one flybuys point for every 2$ spent at Coles supermarkets using your card: that’s an extra -, bringing your total to a healthy 1.5 points per dollar.

About flybuys

You can earn flybuys points at lots of retailers, not just Coles. Flybuys is Australia’s most popular loyalty program and because membership is free you’re probably already collecting flybuys – without having to change your spending habits – at retailers like Kmart, Target, Coles Express, Liquorland and First Choice Liquor, as well as at other major organisations like Medibank, AGL, Budget and Adidas.

Since you can already collect flybuys at so many places when you shop, it makes sense to add to them by collecting not just 1.0, but 1.5 points per dollar, at Coles. You can earn as many points as you like, because the rate at which you can earn them is not capped.

Redeeming flybuys points

One of the most popular ways to redeem your flybuys points is by converting them into flybuys dollars. You can convert 2,000 flybuys points into ten flybuys dollars, which you can use to get a $10 discount off your bill next time you shop at a Coles, BI-LO, Liquorland and Kmart.

Alternatively, convert your flybuys points into Virgin Australia Velocity Frequent Flyer Points, or a gift card to spend at Coles, Kmart, Target, JB Hi-Fi and selected restaurants. Or redeem them for a range of merchandise, including home and garden, fashion, technology, travel, entertainment and lifestyle products.

Free delivery when you shop at Coles online

When cardholders spend $100 or more in a single order at Coles online (excluding any amounts spent on tobacco products) their order will be delivered absolutely free, unless they live in a particularly remote area. You can check if delivery to your area is available by visiting

Low annual fee

If it wasn’t so much of a mouthful, the card’s name really ought to be 'Coles Low Rate Low Fee Mastercard’, since you’ll pay only $58 p.a. a year in account-keeping fees. That’s a very reasonable fee for a rewards card because you are not paying for any other benefits, like 'free’ travel insurance or extended warranty insurance, that you may not be able to use. You can have up to 4 supplementary cardholders on your account – family members perhaps, who can help you to earn flybuys for an additional $10 per card p.a.

Convenience and security

The Coles Low Rate Mastercard comes with a host of inbuilt convenience and security features:

  • It’s an all-in-one Mastercard and flybuys card, meaning there’s one less card to carry in your wallet.
  • The card has Mastercard Tap & Co, for speedy, PIN-free purchases under $100.
  • The fraud management system is always alert for suspicious transactions on your account.
  • The Mastercard Zero Liability Guarantee gives you protection if your card is lost or stolen, providing you have taken normal precautions and immediately report any loss or theft.

Probable cardholder profile for this card

Those likely to derive maximum benefit from the Coles Low Rate Mastercard will already be regular shoppers at Coles and its flybuys partner organisations. They don’t need to be high income earners, frequent flyers or big spenders to recognise the value in a straightforward loyalty discount, extra-long interest-free days, and a low purchase interest rate to make temporary financial difficulties more bearable.

User reviews

4.0 out of 5.0 based on 24 reviews92% of reviewers would recommend this card

Rates and fees
Customer service

Reviews from users

Very happy

Reviewed and recommended by David on 20 Jun 2016

Very happy with my Coles MasterCard. I pay it out every month, pay no interest, and get reward points. They have customer protection, which I have claimed against a couple of times with no issues. It’s great if you’re buying a mobile phone outright as you know it will be cheaper in six to twelve months, so you can get the latest now, wait for the price drop, and claim back the difference later.

On the potentially negative side—which I avoid—is the relatively high interest rate, which is disgustingly high if you take a cash advance.

Good starting card

Reviewed and recommended by Adam on 03 Jul 2016

Is a good starting card with many benefits and without the hassle of the other cards. I would recommend it because of its its simple and user friendly services. Its a good card for anyone wanting a credit card with a reasonable credit limit.

Generally very pleased with this card

Reviewed and recommended by Carolyn on 23 Jun 2016

Coles gave me the opportunity to have a credit card when other banks knocked me back. The low rate is exceptional and the $25 annual fee affordable. Overall, it’s a card that can be easily managed and is excellent for emergencies. I have found it is accepted in all the stores I have visited.

This is a card for everyone.

Not impressed with account operation

Reviewed and not recommended by Paul on 30 Oct 2017

It was sold to me as a no-fee credit card. But it turns out there are fees. To set up a direct debit you have to send a physical letter – yes, I’m not kidding. It took them nearly three months to process my direct debit request. Once they did, the delay on the direct debit meant that we had already paid it off for the month but they withdrew money anyway, so the account ended up in credit.

Day-to-day usage is fine, but their online services portal is extremely limited and any correspondence seems to require a physical letter. Bizarre!

We ended up closing the account after we bought a house. We called up and made a payment to close the account off, and were assured that we had closed the account, all was good. Two weeks later, another direct debit of over $1800 was taken from our account. This happened two days after our baby was born so we didn’t notice the extra repayment until two and a half months later, and then only when we went back through our old transactions with Pocketbook (great product btw). Coles Mastercard didn’t notify us that they had taken an extra $1800 and it was sitting in a closed account (not earning anything for us, I might add).

After finally getting past the automated voice and speaking to a human when we called up, we have been told we need to write yet another physical letter (paying for postage) to request a refund. It boils my blood that this can happen in this day and age. As far as I can tell, and from what I was told on the phone, this may happen to anyone who has a direct debit set up with this card, and who wants to close their account. The backward nature of this operation has cost me time, effort and money. I would not recommend it.

Great rates and ease of use

Reviewed and recommended by Carla on 08 Dec 2016

There’s a great 18 months interest-free deal on purchases, with a low rate after the interest-free period finishes.

The card can be linked to flybuys to gain flybuys points for every purchase, and you can use rewards instantly.

The Coles MasterCard app gives you access to account information on the go. and is easy to use.

Saved a lot of interest with this card

Reviewed and recommended by Lyn on 02 Jul 2016

It was easy to apply for and I was approved online. Statements are also sent to my email account. This card earns flybuy points as you spend, which add up to more savings on weekly grocery bills. Coles are in contact with other offers during the month for extra flybuys points on certain purchases, including petrol.

Do the maths

Reviewed and recommended by Terry on 20 Sep 2016

It is good if you are wanting to earn extra points at Coles for more shopping. My recommendation is to review the situation and decide whether you will use the 'no annual fee’ card (1 point for $2) or the 'annual fee’ card (2 points for $1). If you do the maths it works out.

Great for extra points

Reviewed and recommended by Tennille on 07 Jul 2016

We use this card as a debit card—paying off everything we use when we use it—rather than a credit card. That way, we don’t pay interest on anything! There’s no annual fee and we earn extra flybuys points on everything we pay for. We just used our points for a holiday! Brilliant.

Fee a bit high for a pensioner

Reviewed and recommended by Rada on 04 Dec 2016

Coles MasterCard is not bad. It helps me out when paying bills, etc, but the fee is a bit high for a pensioner like myself. I’m not really sure what the rewards are in this card. I think I get bonus flybuys or something, but i’m too old to understand all that!

I saved a lot of money

Reviewed and recommended by Aidan on 01 Jul 2016

The Coles MasterCard is amazing. They have great service and always help me with any problems. They have always been willing to extend or upgrade my credit limit in an emergency. Also their monthly fees are very good.

I would recommend the Coles MasterCard to my friends and family and I have done so in the last 6 months and I have had all 4 of them join up very fast. They are also happy with them.

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Disclaimer: The opinions expressed about credit cards are the reviewer's alone, and do not reflect the views of Credit Card Compare or the credit card issuer. Reviews have not been approved or otherwise endorsed by Credit Card Compare.

The basics

About this card

Card setup
Card tier
Card type
Card use
Credit rating
Gambling transactions allowed
Joint application
Minimum age
18 years old
Minimum income
Minimum income for pensioners
Rewards program
Temporary residents


Additional cardholders
Additional card fee
$10 p.a.

Credit limits

Minimum credit limit
Maximum credit limit


Interest charged from
Purchase date
Interest free period
Up to 55 days on purchases
Minimum repayment

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.6 months0%80% of credit limit19.99% p.a.

Balance transfers to this card

Balance transfer earns rewards
Balance transfer fee payment due
First statement
Balance transfer from personal loan
Balance transfer processing time
10 - 14 days
Interest free days with unpaid balance
0 days
Maximum balance transfer
80% of credit limit
Available to existing customers

Banks you can't balance transfer from

You can't balance transfer to the Coles Low Rate Mastercard at the promotional balance transfer rate from:

  • Coles

Rates & fees

Promotional interest rates

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.6 months0%80% of credit limit 19.99% p.a.
PurchasesN/AN/AN/AN/A N/A

Ongoing interest rates

Cash advances 1.67% 19.99% p.a.
Purchases 1.08% 12.99% p.a.


Annual fee
$58 p.a.
Cash advance fee
Dishonour fee
Duplicate statement fee
Foreign exchange fee
Late payment fee
Over limit fee
Overseas ATM balance fee
Overseas ATM withdrawal fee
Overseas emergency card replacement fee
Transaction verification fee

Rewards & points

Cool stuff you can get with your points

Disclaimer: Points required accurate as of the 31st March 2018.

Rewards program basics

First purchase bonus
Reward points expiry
Never as long as you keep your account active
Rewards program
Sign up bonus
Spend required for bonus points

Earning points with this card

Frequent flyer points
Overseas earn rate
Same as standard earn rate
Points cap per month
Points cap per year
Points earned on ATO payments
Reward points
1 pt per $2 spent

Additional benefits

Airport lounge access
Complimentary flight voucher
Concierge service

Minimum criteria for this card

What you need before applying

Be over 18 years old
You are a resident or citizen of Australia
Earn a regular income of more than $25,000 per year
Have a good credit history
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
Joint applications are not allowed
Disclaimer: The minimum criteria are intended only to be a guide. Your application may still be rejected by the bank even if you can answer 'Yes' to all the minimum criteria. The final decision regarding your application is up to the bank.

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