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Coles

Coles No Annual Fee Mastercard

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Medium no annual fee mastercard

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Rewards Low Fees Balance Transfer Offers Special Offers Max Interest Free Days Max Credit Limit No Annual Fee

  • Type: MasterCard
  • Level: Standard

All Offers

Balance Transfers Offers 0% p.a. for 6 months then 19.99%
Introductory Offers N/A
Special Offers Receive $100 off a single Coles supermarket shop if you make a purchase within the first 30 days and are approved by 31 December 2017

(until 31 December 2017)

Rates & Fees

Ongoing Purchase Interest Rate 19.99% p.a
Annual Fee $0
Maximum free days Up to 62
Late Payment Fee $20
Over Limit Fee $0

Overseas Spending

Currency Conversion Fee 2.5%
Overseas ATM Charges $4 and 3% (or $1.95 the higher of)
Estimated ATM Cost for AU$300 withdrawal $20.50

Rewards

Points per $1 spent 0.5
Rewards Available Frequent Flyer, Shopping, Travel or Accomodation
Value of Rewards $150 after $0 annual fees
Additional Fee for Reward Card $0

Perks

Travel Insurance N/A

Repayment Details

$ Minimum Repayment $10
% Minimum Repayment 2.22%

Application Requirements

Minimum Credit Limit $500
Maximum Credit Limit No Limit

Those who don't like their credit cards with a lot of fees have options at their disposal. The Coles No Annual Fee MasterCard is one popular choice.

What sets the Coles MasterCard apart from the other low fee credit cards available on the market is its lack of an annual fee. While one is sure to make savings through this feature, this type of card won't suit every type of consumer. Financial discipline is the order of the day with a Coles MasterCard, as with an interest rate of 19.99 percent, it sits towards the upper end of the spectrum of rates.

The low fee credit card for those on top of their finances

As its name indicates, the Coles No Annual Fee MasterCard's chief drawcard is its lack of annual fee. With some cards, this can save you hundreds of dollars over the course of years.

This is also money you can put toward paying down your credit card debt to reduce your burden of interest.

Those in the habit of managing their money and paying down debt can also benefit from the Coles MasterCard's 62-day interest-free period. As long as you pay off the full balance of the card each month, you won't pay interest on any purchases for a period of time equivalent to two Decembers.

However, buyers will have to be at the top of their game when it comes to managing their money. Interest at 19.99 percent is charged on all purchases and cash advances, and there are several more features that can catch undisciplined card holders:

  • A late fee of $20 if you fail to pay off the required amount by the due date
  • A cash advance fee of 3 percent of the total withdrawn, or $1.95 - whichever is bigger - charged on all cash transactions

The shopaholics' low fee MasterCard

If you like a little bit of something for nothing now and then, it's worth noting that the Coles MasterCard offers shoppers a number of advantages:

  • $10 off each purchase at a Coles Supermarket when you redeem 2000 flybuys points, excluding Coles Express and Coles Online
  • It's a credit and flybuys card in one, so you don't need two cards clogging up your wallet
  • For each $2, you spend, you'll receive one flybuys point, on top of any other flybuys points you receive from other partners
  • Free delivery when you spend $100 or more with your Coles MasterCard from a Coles Online store

You'll also gain the luxury of MasterCard PayPass, allowing you to tap and go for purchases under $100.

If you're thinking of shopping on holiday, the Coles MasterCard is less accommodating, as there are a number of fees on overseas transactions:

  • $4 at international ATMs, on top of the cash advance fee
  • $5 charged with each over the counter transaction, also on top of the cash advance fee
  • An international transaction fee of 2.5 percent of every purchase outside Australia

If you're hoping to keep your credit history spotless, it might therefore be best to give the Coles MasterCard a break when travelling.

Other notable features of the Coles No Annual Fee MasterCard

The Coles MasterCard has a number of other notable features worth paying attention to. You have full online access to your account, allowing you to:

  • Look at your transaction history
  • Set up direct debits
  • View, save and print statements
  • Update personal details

For round-the-clock account management, you can also install the Coles Credit Card App on your smartphone. This will also let you look at your flybuys point balance and access exclusive flybuys offers.

Applying for a card is easy enough as the entire process is online, and you should receive a response in 60 seconds. If you don't need a paper statement, you can avoid a $2.00 fee by switching to online statements through the Coles MasterCard Online Service Centre, so be sure to do that as soon as the card arrives in the mail.

More about Coles

More about Coles

In addition to being a prominent supermarket brand, Coles offers a number of financial services to Australians - including credit cards. They offer a variety of low fee credit cards and premium credits cards, which could be suitable for many different people's needs.

As always, it's important to compare and contrast credit cards with one another before making a commitment, so you fully understand where a suitable deal can be made. What can the Coles credit cards offer?

Coles Rewards MasterCard

This is a product that offers a rewards scheme for shopping, accommodation or travel. You generate two rewards points for every dollar spent on the Rewards MasterCard, and there is a concierge service.

Minimum repayments are either $10 per month or 2.22 percent of what you owe, with a minimum credit limit of $500. Balance transfers are offered at zero percent for six months and 19.99 percent thereafter, making this a possible option for those who are seeking to change credit cards.

Coles Rewards Platinum MasterCard

The Coles Rewards Platinum MasterCard offers many of the features of the Coles Rewards MasterCard, but with a minimum credit limit of $6,000. Once approved for this, users receive bonuses like Merchandise Protection Insurance and a 24-hour concierge service.

Coles No Annual Fee Platinum MasterCard

While the Coles No Annual Fee Platinum MasterCard has significant rewards systems, the interest rate may cost you if you don’t pay your card off in full. With the Low Rate MasterCard, this is much lower and better suited to those who don’t always pay their full balance. Annual fees are also lower than with rewards credit cards, and many of the bonuses remain in place.

This card has a minimum credit limit of $6000.

Coles Low Rate Platinum MasterCard

The differences here are similar to with the other platinum and non-platinum credit cards available from Coles, in that the Low Rate Platinum MasterCard has a higher minimum credit limit you must be approved for, but also has a more significant rewards system.

Making sure to compare credit cards before signing away on one is crucial, and understanding the nuances of each of the rewards and low fee credit cards available from Coles will go a long way towards making an informed decision. Make sure to use the Rate City comparison tools to complete the picture and discover what each card can bring to your financial situation, be it boosting credit or seeking an overseas spending credit card.