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Low Rate Mastercard



Electronic Wallet Service

Important Rates


Balance Transfer

Overseas spending



Earn Rates

RateCard TypeEarnsCondition
0.5 points for $1 spentMasterCarduncappedeligible transactions


The Coles Low Rate Mastercard has a moderately low annual fee, a moderate late payment fee, moderately low interest rates and a high number of interest-free days when you pay your balance in full each month.

The card also has an associated rewards scheme that allows customers to earn flybuys points when they shop at Coles supermarkets. The card earns at a rate of 1 flybuys point for every $2 the customer spends at Coles. In addition to flybuys points, the card also provides free delivery at Coles online when you use the Low Rate Mastercard, as well as $10 off your bill at Coles when you redeem 2,000 flybuys points.

The Coles Low Rate Mastercard delivers a high level of security by using the Falcon fraud management system as well as the Mastercard Zero Liability Guarantee.

  • Earns flybuys points
  • High number of interest-free days
  • Mastercard Zero Liability Guarantee
  • Charges an annual fee
  • Does not earn frequent flyer points
  • Charges foreign transaction fees


Who is it good for?

The Coles Low Rate Mastercard is a sensible choice for potential card holders who regularly shop at Coles Supermarkets. The rewards scheme allows you to earn flybuys points on all transactions made at Coles with the Low Rate Mastercard, which can be redeemed later for a discount on your Coles shop.

However, this card does not offer any particular advantage to customers who don’t use Coles as their preferred supermarket. Although the card has a relatively low annual fee, the fees are not worth the rewards if you don’t regularly use your card at Coles.

This card is also not well suited to customers who are looking for a credit card to use overseas. The Coles Low Rate Mastercard charges a high fee for international ATM use, as well as fees for currency conversion and foreign transactions.

What RateCity says

The Coles Low Rate Mastercard may be a suitable card for current Coles customers. The flybuys rewards scheme allows card holders to receive discounts on grocery bills and therefore provides a worthwhile benefit for Coles shoppers.

While this card is a practical choice for Coles customers, this card does not offer benefits to customers who want variety in their rewards. The flybuys rewards scheme does not allow for the flybuys points to be redeemed anywhere other than Coles, which may make it inappropriate for customers who want travel or voucher rewards.

The card has reasonable rates and fees, including a moderately low annual fee and low interest rates. However, card holders who want to minimise credit card costs may be better off shopping the market for a card that charges no annual fee. 


To be eligible for the Coles Low Rate Mastercard, you must be over 18 years old, earn an annual income over $25,000 and have the right to work in Australia. When applying, you should have your income details nearby, as well as personal and identification details. If you have a current flybuys number, you can submit it with your application. You can apply online and receive a response within 60 seconds of submission.

About Coles Financial Services

Coles Financial Services is an Australian financial products company. Their products and services offering include car, home, landlord and travel insurance, as well as credit cards and prepaid cards. Coles insurance is backed by IAG, one of Australia’s largest insurance groups, and their credit cards come with the security features of Mastercard. Coles was first opened in 1914 by founder GJ Coles and has been in business for over 100 years.

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