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Coles No Annual Fee Mastercard

A no annual fee credit card that also earns Flybuys points per $1 spent – and offers $100 off a Coles Supermarket shop for new customers.

The Coles No Annual Fee Mastercard gives you a way to earn points on your credit card spending without ever paying an annual fee. While its earn rate is on the low side – working out to 0.5 Flybuys points per $1 spent – it could still be worth it when you factor in potential savings from the $0 annual fee.

If you’re a regular shopper at Coles, the current introductory offer gives you a way to get $100 off a Coles shop when you apply by 30 September 2021 and spend $1,500 on eligible purchases in the first 60 days from card approval. It also offers 0% interest on balance transfers for the first 12 months, but you won’t get interest-free days for purchases when you have a balance transfer.

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Amy Bradney-George

Last Updated Jul 12, 2021

0% p.a.

Balance transfer rate

for 12 months

19.99% p.a.

Purchase rate

0.5

Reward points

Per $ spent

$0 p.a.

Annual fee

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Details

Product Name	Coles No Annual Fee Mastercard
Rewards program	Flybuys
Balance transfer rate	0% p.a. for 12 months
Balance transfer revert rate	Cash Advance Rate (19.99% p.a.)
Balance transfer limit	80% of available limit
Purchase rate	19.99% p.a.
Annual fee	$0
Interest-free period	Up to 55 days on purchases
Cash advance rate	19.99% p.a.
Min credit limit	$2,000
Card type	Mastercard
Foreign currency conversion fee	2.5%

Minimum income	$25,000
Available to temporary residents	No
Joint application	No

Pros

$100 off a Coles Supermarket shop
Ongoing $0 annual fee
0% p.a. on balance transfers for 12 months
Earn Flybuys points for your spending

Cons

Flybuys points earn rate is low at the equivalent of 0.5 points per $1 spent
The revert interest rates are relatively high

Rewards program	Flybuys
Bonus points	N/A
Rewards points per $ spent	0.5
Rewards points cap	Uncapped

Annual fee	$0
Minimum monthly repayment	2% of the closing balance or $30, whichever is greater
Late payment fee	$30
Foreign currency conversion fee	2.5%
Cash advance fee	3% or $1.95, whichever is greater
Overseas cash advance fee	$5
Additional cardholder fee	$0
Number of additional cardholders	4

Review by

Amy Bradney-George

[email protected]

Amy Bradney-George has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. Her work has also appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University.

Expert review

The Coles No Annual Fee Mastercard is one of few credit cards that offers both rewards and no annual fee. With this card, you earn the equivalent of 0.5 Flybuys points per $1 spent on eligible purchases made anywhere the card is accepted. This gives you a way to earn points when you shop with brands that aren’t already Flybuys partners – although it’s worth noting that some other reward cards offer higher earn rates.

This card also gives you a way to repay your existing debt interest-free for 12 months. As an example, if you transferred $5,000 from a credit card with a 19.94% p.a. interest rate, you could save $924.29 with this offer. But if you’re more interested in shopping right now, the $100 off a shop at Coles also gives you a way to save at the supermarket.

Keep in mind that you won’t get interest-free days on purchases when you’re carrying a balance. Paying off your debt should also be your priority over spending money to avoid attracting higher interest rates.

How to apply

You can apply for the Coles No Annual Fee online and get a response within 60 seconds of submitting it. Before you get started, make sure you meet the eligibility criteria and have all the details you need to complete the application.

Eligibility criteria

Minimum income. You must earn at least $25,000 per year.
Eligible balance transfer debt. If you are planning to transfer a balance to this card, you can transfer up to 80% of your available credit limit from Australian accounts not issued by Citigroup.

Residency. You must be an Australian citizen or permanent resident.
Age. You must be at least 18 years old to apply.
Credit rating. You must have a good credit rating.
New cardholder. The balance transfer offer is only available to new customers.

Required documents

Personal details. This includes your full name, date of birth, contact number, email address, residential address and marital status. You also need to provide a valid form of ID, such as your driver's licence or passport.
Employment details. This covers your salary, job title, length of employment and your employer's contact details. You may also need to provide supporting documentation, such as recent payslips or your latest financial year income statement.
Financial details. This includes any government payments or other sources of income, as well as savings and assets. You also need to provide details of existing debts, loans and cards, along with regular household expenses including rent or mortgage payments and bills.
Balance transfer details. If you want to transfer a balance to this card, you need to provide details including the total amount of debt you want to transfer, your account name and number, as well as the BSB for the institution that currently holds the debt.
Flybuys details. You need to provide your existing Flybuys membership number so that you can earn points and have your loyalty account details printed on the credit card. If you're not already a member of the Flybuys program, you will be automatically enrolled when you apply for the Coles No Annual Fee Mastercard.

Card benefits

$100 off a shop at Coles. You'll get $100 off a Coles Supermarket shop when you apply by 30 September 2021 and spend $1,500 on eligible purchases within the first 60 days from card approval. Eligible spending covers most everyday purchases. Transactions that won't count towards this spend requirement include BPAY payments, cash advance transactions, a purchase from or payment to a government or government related agency, balance transfers and account fees and charges.
Balance transfer offer. Apply by 30 September 2021 and get 0% interest on balance transfers for the first 12 months, with no balance transfer fee. Any unpaid balance after the introductory period will be charged interest at the cash advance rate, currently 19.99% p.a.

No annual fee ever. This card charges a $0 annual fee for the life of the card.
Flybuys points per $2 spent. This card offers the equivalent to 0.5 Flybuys points per $1 you spend on eligible purchases. Points are awarded in whole numbers and rounded down. Eligible purchases cover most everyday transactions including groceries, petrol and dining, while transactions that are not eligible for points include cash advances, balance transfers and account fees.
Flybuys membership details. You can use this card to earn points through your Flybuys account by scanning the membership barcode that's printed on the back of it when you shop with Flybuys partners. You can redeem Flybuys points for a variety of rewards including money off your shop at Coles Supermarkets and retail items. If you earn or redeem points at least once every 12 months, your Flybuys points will not expire.
Up to 55 interest-free days. Save on interest charges with up to 55 days interest-free on retail purchases when you pay the total outstanding balance (including any balance transfers) by the due date on each statement. Note that interest-free days are not offered for cash advances, balance transfers, special promotions or account fees and charges.
Mobile payment compatibility. Coles credit cards are compatible with both Apple Pay and Samsung Pay. The Coles Mobile Wallet also lets you manage your account and activate Flybuys offers at any time on the free app for Android or Apple devices.
Card security. The Coles Shield security service offers 24/7 account monitoring and alerts, while the Mastercard Zero Liability covers you against fraudulent transactions.

Rates & fees

Purchase rate. The Coles No Annual Fee Mastercard charges an interest rate of 19.99% p.a. on purchases.
Cash advances. If you use this card to withdraw cash or make other cash advance transactions, an interest rate of 19.99% p.a. will apply. A cash advance fee of 3% of transaction amount or $1.95 (whichever is greater), will also apply in Australia, and a fee of $5 applies if you make a cash advance overseas.

Foreign currency conversion fee. A 2.5% fee applies for transactions made overseas or online in a foreign currency.
Additional cardholders. If you want to share your account with your partner or a family member to earn Flybuys faster, you can request up to 4 additional cards at no extra cost.

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Coles No Annual Fee Mastercard