Coles Rewards Mastercard

What do you want this card for?
Save money
Earn points
Card features
foreign exchange fee
overseas ATM balance fee
overseas ATM withdrawal fee
Collect 2 points per $1 on eligible spend – that’s on top of the usual flybuys points from other partners.
0% p.a. on balance transfers for 6 months.
Save $10 instantly at the checkout when you redeem 2,000 flybuys points.
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Pros & cons

What's good?

What's not so good?

Collect 2 points per $1 on eligible spend – that’s on top of the usual flybuys points from other partners.
0% p.a. on balance transfers for 6 months.
Save $10 instantly at the checkout when you redeem 2,000 flybuys points.
Up to 62 days interest free on purchases.
A rewards card with only a comparatively small annual fee to pay.
Checkout faster using MasterCard contactless.
No international transaction fees on purchases when you shop online or overseas.
Protected by the Coles Shield.
New customers only.
After the 0% p.a. balance transfer period is completed, any unpaid balances will be subject to the 19.99% p.a. interest rate.
1.5% fee applies when you obtain funds outside of Australia or in a foreign currency.

Our review

Our review of the Coles Rewards MastercardReviewed by Yvonne Taylor

There’s one card that all dedicated flybuys points collectors need: the Coles Rewards Mastercard. It transforms an otherwise rather slow and pedestrian loyalty program into a true money-spinner, with its high points earning rate, generous interest-free days and a number of other useful benefits.

A frequent $10 off your bill at Coles, Kmart or Liquorland

How does a permanent 1.5% discount on your supermarket and variety store shopping sound? Too good to be true? Not when you use the Coles Rewards Mastercard. This card offers 2.0 flybuys points per dollar spent, everywhere you use it. So when you add those 2.0 points to the 1.0 points per dollar you already get with most flybuys program partners, the result is a very healthy 3.0 points per dollar. That translates into $10 off your Coles, Kmart or Target shopping for every $667 you spend at those stores (thus earning 2,000 points), which equates to a permanent 1.5% discount.

Lots of places to earn flybuys

You probably already know about the well-promoted flybuys potential at Coles, Kmart and Target. But did you know that you can also earn flybuys at Liquorland, First Choice Liquor, First Choice Liquor, LiquorMarket, Coles Express and Kmart Tyre & Auto? If that’s not enough, you’ll also get points from doing business with Medibank, Budget car rental, AGL, Adidas, Kleenheat and several fitness companies. Most people do business regularly with several of these organisations, which means that flybuys accumulate without any need to change spending patterns.

Lots of ways to spend flybuys

Although the $10 discount at the checkout is probably the most popular and cost-effective way to spend your flybuys, if that doesn’t appeal there are plenty of other choices:

  • Instead of using the discount yourself, you can give it as a gift. Points can be converted into $50 or $100 shopping gift cards.
  • Merchandise is available at the flybuys online store. Choose from home and garden, fashion, technology, toys and baby products, watches and jewellery, and many more categories.
  • Points can also be exchanged for beer and wine, magazine subscriptions, movie tickets, entertainment and dining experiences and hotel accommodation.
  • Flybuys can be converted into Virgin Velocity Frequent Flyer Points at the rate 2,000 flybuys equals 870 Velocity Frequent Flyer Points.
  • Link your flybuys and Velocity memberships and earn one Velocity status credit each month for every $100 spent across Coles supermarkets, Coles Online, Liquorland and First Choice Liquor. Status Credits can improve your Velocity Frequent Flyer status to silver, gold and platinum levels, with accompanying travel benefits.)

Long payment cycle, better than an introductory zero-interest period

Coles is not offering a zero-interest period on either purchases or balance transfers to get you hooked on this card. They don’t need to, because instead of either of these you will get up to 62 days interest free on purchases every month, courtesy of the protracted billing cycle which lets you spend in month one and not pay until month three.

That’s 84 days more free credit per year than a 55-day card, and 216 days more than a 44-day card. In other words, your cash might spend over seven months more per year on deposit, in a savings or mortgage offset account, than it does with the card you’ve got now. And that’s every year, not just the first year, because it’s not an introductory offer with an expiry date but a permanent feature of the card.

Annual fee quickly recouped

Although you will pay an annual fee of $99 p.a. with this card, this amount will be recovered in cash rewards as soon as you have spent $9,900 (earning 19,800 points). Cover the fee even sooner by spending $6,600 (or less, depending on each partner’s points rate) with flybuys program partners. Every point you earn after that is free.

Great card for online shoppers and international travellers

Another rare feature that you’ll appreciate is the lack of an international transaction surcharge. Other cards can charge up to 3.5% on top of the face value for processing overseas purchase transactions. This Coles card levies no additional fee, whether you are shopping online with an overseas supplier, or in person while travelling internationally.

Say goodbye to Coles online delivery charges

Online grocery shopping is becoming a popular choice for busy people in metropolitan areas. Pity about the delivery charges though. But once armed with this card you never need to pay for a Coles delivery again, no matter which delivery window you choose. Just spend at least $100 (excluding tobacco products) in a single order, pay with your Coles Rewards Mastercard, and delivery (usually costing between $4 and $18) is absolutely free. If you have a weekly delivery, you could save more than $900 per year.

Speed and convenience

This card comes with more useful features for the time-poor:

  • Checkout faster using Mastercard PayPass Tap & Go for transactions under $100.
  • The Mastercard also functions as a flybuys card, so you only need to carry and use one card instead of two.
  • The Coles Mobile Wallet is a free app which turns your smart phone into a digital wallet: use your phone both to pay and to collect flybuys, as well as to access your credit card account and transaction details.
  • Up to eight supplementary cardholders can be included in each card account, with a convenient single statement, at no extra cost

Unattractive interest rates can be avoided

There always has to be a downside, and it’s in the interest rates: 19.99% p.a. for both purchases and cash advances. But there’s no need to pay these rates. If your finances are in order and you diarise payment due dates to avoid missing them, there’s no reason for these rates to bother you because they will never be applied to your account.

Making a note of the payment due date will also mean that you’ll dodge the steep $20 late payment fee.

If you think you’ll need extended credit – more than the already generous 62 days – with reasonable regularity, choose a low-rate card instead, like the Coles Low Rate Mastercard or the ME frank Credit Card.

Platinum card option

Credit limits start at a low $500 if you’re looking for a restricted or starter card, but you may want to consider applying for a limit of $6,000 or more. If approved, this limit automatically entitles you to the platinum version of the card, bringing two useful extra features with no additional cost:

  • Platinum concierge service, available 24/7 worldwide. Access information and reservations for restaurants, travel, entertainment, sporting events and sightseeing.
  • Purchase protection insurance, covering your major purchases against loss, theft or damage for 90 days, provided you bought them using the card.

The must-have card for serious flybuys collectors

It can pay to be earnest about accumulating flybuys. ASIC’s MoneySmart website says that Australian families spend on average over $16,000 per year on food, drinks and alcohol. At 3.0 points per dollar (2.0 from this card + 1.0 from the flybuys partner) that could add up to a saving of $240 at the checkout during the course of a year – almost a week’s free groceries, so not to be sneezed at.

Most cardholders will be able to accumulate additional points from other participating businesses. This is without doubt the go-to card for flybuys enthusiasts who also appreciate a long payment cycle.

User reviews

4.0 out of 5.0 based on 75 reviews91% of reviewers would recommend this card

Rates and fees
Customer service

Reviews from users

Good card to have around

Reviewed and recommended by Felix on 03 Sep 2013

I believe it is a good card of the so many out there with fare interest rates and great reward program easily accessible and redeemable with lots of options to choose from with useful items for yourself or your home. I know you will find it a must have item in your wallet.

Great rewards card

Reviewed and recommended by Brett on 01 Jul 2016

I find the Coles Rewards MasterCard to be very beneficial. I use it all the time as the rewards earned through your flybuys account far outweigh the low annual fee.

This is the best credit card I have ever used and would highly recommend it for people looking to get that bit extra.

The rewards are nice

Reviewed and recommended by David on 02 Jul 2016

If you use this card regularly, it is nice to go shopping at Coles and getting $10 off every few times. The card is easy to use and I feel safe using it. Customer service have been a pleasure to call up as well.

I would recommend this card for someone who wants some help with their shopping bills.

Fast rewards, convenience, security

Reviewed and recommended by Linda on 21 Sep 2016

Having my flybuys number on the back of my card is very convenient. Because we pay out our balance each month there are no interest charges.

We get points on all transactions, even when paying bills. Points build up faster and we are able to redeem our points for great products and services.

Transaction are easily viewed on an easy-to-use app. The card is accepted everywhere. There’s great service from the provider. Fraudulent transactions are investigated promptly. It gives me peace of mind when Fraud Services call to verify a possible dodgy transaction.

My credit card

Reviewed and recommended by jasss on 31 Mar 2014

Generally ok, just the account keeping fees are too big. Got it, because no other company gave me a chance to have a credit card. Even now, if i wanted to change my card to better one (with no fees), or small ones, it will not be possible, as i don’t work atm, being on a disability pension.

Convenient, easy to use, and it has rewards

Reviewed and recommended by Brian on 20 Jun 2016

Coles were quick to send a replacement card and customer service is good. The card is can be used everywhere, including overseas. I have set up monthly online statements and online payment so that it is “set and forget”. I pay the full amount off each month, so only a small yearly fee to pay. Another card can be issued to your partner too. This card suits me very well.

Surprisingly good customer service

Reviewed and recommended by Andy on 20 Sep 2016

We are flybuys members and the Coles MasterCard rewards work really well with this, saving us one card to carry. Redemption is really easy and the total rewards are comparable with other credit cards at a much lower annual fee.

The most surprising thing is that when I have had to query costs, the customer service team was very helpful. I did not expect this from Coles and was quite satisfied.

Lengthy application process

Reviewed and recommended by Kelly on 23 Aug 2017

There are good benefits to be had from the card but application process is time consuming and lengthy.

It’s been over a month of going back and forth and I still haven’t received the card yet.
Customer service is terrible, and every event is quoted as 7-14 days for processing. Like when I did my ID check, then it took a further 10 days and another follow up phone call for them to progress the next step.

Interest rate the only drawback

Reviewed and recommended by Liane on 15 Oct 2016

Apart from the high interest rate, which applies only to an open balance after 55 days credit use, Coles Platinum MasterCard has served its purpose. It suits my needs, and provides security and peace of mind.

Customer service promptly alerts me to any unusual activity on my account and provides assistance with cancellation of purchases and refunds.

Happy new customer of Coles MasterCard

Reviewed and recommended by Alicia on 01 Jul 2016

I can now earn both shopping points & flybuys by shopping with this card. It appears to be earning points at a fairly high rate and the fact I can shop with it anywhere, even at their competitors, and earn points means we have often been able to get $10 off our shopping total.

Coles have good customer service, which means a great deal to me. I can speak to someone if I have a problem and it is seen to immediately. The website is easy to use, which is also good. This is my third credit card. I will not name the last one (it was from a bank), but the service was very poor. There never seemed to be staff to help you and there was always a line waiting for help.

Show 65 more reviews
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
$0 p.a.

Credit limits

Minimum credit limit
Maximum credit limit


Interest charged from
Purchase date
Interest free period
Up to 62 days on purchases
Minimum repayment

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.6 months0%100% 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
100% of credit limit
Available to existing customers

Banks you can't balance transfer from

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

  • Coles
  • Latitude Financial Services

Rates & fees

Promotional interest rates

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.6 months0%100% 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 1.67% 19.99% p.a.


Annual fee
$99 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: Does not include taxes, fees, or charges. Accurate as of 25th January 2016.

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

Additional benefits

Airport lounge access
Complimentary flight voucher
Concierge service


This card comes with benefits worth an estimated $95

ShoppingEstimated value
Free delivery of goods purchased
Valuation based on an average $9.50 delivery fee in metro areas. Assumes 10 deliveries per year.
Purchase protection
If approved for a credit limit of $6,000 or more, it becomes a Platinum card with Purchase Protection insurance worth $40.
Total estimated value$95
Annual fee$99
Net customer value$-4
Disclaimer: Details of who, what, and where coverage applies to, as well as its duration and any coverage limitations will be listed in the credit card insurance product disclosure statement (PDS) on the card issuer's website. The names/labels of complimentary insurance products may differ from one issuer to another. Terms and conditions apply. Always check the insurance PDS when considering a financial product. Accurate as of 31st October 2015.

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
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 pointers 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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