Coles is one of the major supermarkets that most if not all Australians are familiar with. Whether it’s buying groceries in-store or online many of us spend much of our food shopping hours there.

Coles teamed up with Citibank to create a Coles Mastercard credit card that gives rewards and discounts to shoppers. 

There are three different types of Coles credit cards. Each has its unique feature which shoppers can choose from. Before you decide to apply for one of their credit cards it’s good to check out the below info on these cards. 

The three different types of Coles Mastercards

There are three types of Coles credit cards to choose from. Which card to choose boils down to how much you spend and your ability to repay the full balance each month. Plus, are you willing to pay an annual fee, and whether you want more benefits.

To be eligible for a Coles Mastercard the applicant must have a good credit rating and earn a least an income of $25,000 per annum. And as usual, the applicant must be over 18 years of age and live in Australia.

Credit Card

  • Bonus Points Offer
  • Points Per $1 Spend
  • Annua Fee
Coles Rewards
Coles Rewards
  • Bonus Points Offer 20,000 Flybuys points
  • Points Per $1 Spend 2
  • Annua Fee $99
  • No Foreign Transaction Fees
  • Purchase Protection
Coles No Annual Fee
Coles No Annual Fee
  • Bonus Points Offer -
  • Points Per $1 Spend 0.5
  • Annua Fee $0
  • Purchase Protection
Coles Low Rate
Coles Low Rate
  • Bonus Points Offer -
  • Points Per $1 Spend 0.5
  • Annua Fee $58
  • Purchase Protection

Coles Rewards

  • 2 Flyby points on general spending (excludes BPay & Government payments) - uncapped points. From 12 January 2021, changes to 2 Flybuys points per $1 spend up to $3,000 and then 1 Flybuys point after that on each statement period.
  • Annual fee cost is $99 p.a.
  • Interest rate on purchases is 19.99% p.a.
  • No international transaction fees are charged on overseas purchases.
  • No cost for an additional cardholder.

Reasons for choosing this card

If a cardholder pays off the full statement balance each month, then having a Rewards credit card is a suitable choice. Paying the balance off each month means to avoid interest charges. 

More spending on the card equates to earning more points. On the Coles Reward Mastercard, a minimum spend of $10,000 per year on general purchases roughly earns $100 off Coles Supermarket shopping. This discount at least covers the annual fee cost. So if you expect to spend way above $10,00 each year, then having this card would be worthwhile. 

Or if you make international purchases or want to use a card for trips overseas then its no foreign transaction fees benefit comes in handy. 

Coles No Annual Fee

  • Earn 1 point per $2 spent on general purchases (excludes BPAY & Government payments) - uncapped point earnings.
  • $0 annual fee.
  • Purchase rate is 19.99% per annum.

Reasons for choosing this card

A no annual fee card is a suitable option for the not so big spenders. At no cost, you can still take advantage of the benefits that come with having a credit card.

You'd have to spend $4,000 with this card to get $10 off your Coles Supermarket shopping. This can be a good option for a single person or some who's monthly spending isn't high. 

But for this card to be worth it, you have to repay the full statement balance each month to avoid any interest costs. 

Coles Low Rate

  • 1 point for every $2 at Coles Supermarkets. Only get points at Coles Supermarkets. Uncapped point earnings.
  • Low interest rate of 12.99% p.a. on purchases.
  • Low annual fee of $58 p.a.

Reasons for choosing this card

Not paying off the whole statement balance each period means interest charges will incur. Thus, if you're paying interest charges then using a low rate credit card is suitable for dropping those interest costs.  

Be mindful, that this offers points only for purchases at Coles Supermarkets. To get the benefit out of this card, it'd mean you'd have to be buying your food and groceries at Coles Supermarkets.  

Note: You can always compare more low interest rate cards on Kredmo. Or even find an interest-free offer credit card to save on paying interest for many months, but these cards may not collect reward points.

The perks that come with a Coles Credit Card

$10 off Coles Supermarket shopping

Get $10 off your Coles supermarket shopping at the checkout when you redeem 2,000 Flybuys points (excludes Coles Express and Coles Online). Must spend at least $10 after savings and discounts in one transaction at Coles Supermarkets to get the $10 off (excludes gift cards, iTunes cards, tobacco, and tobacco-related purchases).

Interest-Free Days

Get up to 55 days interest-free. Meaning that if you pay the statement balance in full each period by the due date, then you won't get charged interest. 

Purchase Protection

Shop with more confidence with purchase protection. Have this protection for up 90 days on eligible purchases made on a Coles card. 

Extended Warranty

Matches the period of the manufacturer’s warranty period up to 1 year. If the manufacturer’s warranty is above 5 years then excluded. 

Transit Accident Insurance

Insurance for injury or loss while during transit for overseas travel. But, the travel ticket must be made on the Coles Mastercard. 

Mobile Pay

Cardholders can choose to pay with Apple Pay and Samsung Pay. 

What to be aware of

Fee for paper statements. Paper statement fee of $2.00, get an online statement to avoid this fee. 

Over-the-counter fee when repayments made at Australia Post. An Over-the-Counter Transaction Fee of A$2.25 will be charged to your Account at the end of the month for each payment made to your Account at Australia Post outlets when you use the [email protected] facility.

Some customer service issues. There have been customers expressing their frustration from a lack of customer support. Calling customer support to resolve an issue can be difficult to resolve and time-consuming. 

No balance transfers from Citibank cards. As Citibank is the financial provider behind the Coles card, balance transfer offers on Coles cards can't be transferred from a Citibank credit card. 

Using a Coles Credit Card can make sense if...

If you buy your food and groceries from Coles Supermarket each week and you want rewards in form of getting dollars wiped off your shopping, then it can make sense to use a Coles Mastercard. 

Whichever card you choose you'll be earning points either way and getting dollars off your Coles Supermarket shopping as long as you collect enough points.

Generally, credit cards that offer rewards mostly come with an annual fee. But with a Coles card, you can earn rewards at a lower or zero annual fee cost, which is one great thing about this card.