No Annual Fee Mastercard

Pros:
  • No Annual Fee
Cons:

    Basic

    Card Level
    Card Level
    Standard
    Interest Free Days
    Interest Free Days
    55
    Maximum credit limit
    Maximum credit limit
    $60,000
    Minimum credit limit
    Minimum credit limit
    $2,000
    Minimum repayment dollars
    Minimum repayment dollars
    $30
    Minimum repayment percent
    Minimum repayment percent
    Number free supplementary
    Number free supplementary
    Annual Fee
    Annual Fee
    Late Payment Fee
    Late Payment Fee
    $10
    Over limit fee
    Over limit fee
    $0
    Duplicate statement fee
    Duplicate statement fee
    $0
    Supplementary card annual fee
    Supplementary card annual fee
    $0
    Card Level
    Card Level
    Standard
    Interest Free Days
    Interest Free Days
    55
    Maximum credit limit
    Maximum credit limit
    $60,000
    Minimum credit limit
    Minimum credit limit
    $2,000
    Minimum repayment dollars
    Minimum repayment dollars
    $30
    Minimum repayment percent
    Minimum repayment percent
    Number free supplementary
    Number free supplementary
    Annual Fee
    Annual Fee
    Late Payment Fee
    Late Payment Fee
    $10
    Over limit fee
    Over limit fee
    $0
    Duplicate statement fee
    Duplicate statement fee
    $0
    Supplementary card annual fee
    Supplementary card annual fee
    $0

    Rates

    Purchase Rate
    Purchase Rate
    19.99%
    Cash advance rate
    Cash advance rate
    19.99%
    Purchase Rate
    Purchase Rate
    19.99%
    Cash advance rate
    Cash advance rate
    19.99%

    Balance Transfer

    Balance Transfer Rate
    Balance Transfer Rate
    0%for 6 months then 19.99%
    Transfer Limit
    Transfer Limit
    80%of the chosen credit limit
    Balance Transfer Fee
    Balance Transfer Fee
    $0
    Balance Transfer Rate
    Balance Transfer Rate
    0%for 6 months then 19.99%
    Transfer Limit
    Transfer Limit
    80%of the chosen credit limit
    Balance Transfer Fee
    Balance Transfer Fee
    $0

    Overseas spending

    Foreign Exchange Fee
    Foreign Exchange Fee
    2.5% on MasterCard
    Overseas charges
    Overseas charges
    $5
    Estimated ATM Cost
    Estimated ATM Cost
    Foreign Exchange Fee
    Foreign Exchange Fee
    2.5% on MasterCard
    Overseas charges
    Overseas charges
    $5
    Estimated ATM Cost
    Estimated ATM Cost

    Rewards

    Program name
    Program name
    Flybuys
    Rewards Available
    Rewards Available
    Gift Card, Cash Back
    Points Per $1 Spend
    Points Per $1 Spend
    0.5uncapped
    Program name
    Program name
    Flybuys
    Rewards Available
    Rewards Available
    Gift Card, Cash Back
    Points Per $1 Spend
    Points Per $1 Spend
    0.5uncapped

    Eligibility

    Minimum age
    Minimum age
    18
    Minimum income
    Minimum income
    $25,000
    Eligibility conditions
    Eligibility conditions
    Permanent Australian resident
    Minimum age
    Minimum age
    18
    Minimum income
    Minimum income
    $25,000
    Eligibility conditions
    Eligibility conditions
    Permanent Australian resident

    Perks

      Other Benefits
      Save $10 instantly at a Coles Supermarket checkout everytime you redeem 2000 flybuys points

      Features

      As the name suggests, the Coles No Annual Fee Mastercard comes with no annual fee, as well as a moderately high interest rate, a high interest-free period and a moderate late payment fee.

      Customers wishing to transfer existing debt can take advantage of this card’s 0 per cent introductory balance transfer offer. One free additional cardholder is also allowed.

      Cardholders can earn flybuys points with this card by making eligible purchases at Coles supermarkets. Flybuys points can be redeemed for gift cards, merchandise, cashback and other rewards. Free delivery is also available from Coles Online when cardholders use their credit card to make purchases.

      In regards to security, customers are covered by the Falcon fraud management system and zero liability guarantee for fraudulent transactions. There is no complimentary insurance coverage included with this card.

      Pros
      • No annual fee
      • High interest-free period
      • Free additional cardholder
      Cons
      • Moderately high interest rate
      • Late payment fee charged
      • No complimentary insurance

      Who is it good for?

      The Coles No Annual Fee Mastercard is a fitting option for people looking to cut down on unnecessary card fees thanks to its waived annual fee.

      Similarly, people struggling to pay off existing debt could benefit from the introductory balance transfer offer. Couples or other shared account holders might also be attracted to the card’s allowance for an additional cardholder at no extra cost.

      For those who typically aren’t able to pay their full balance every month, this card probably wouldn’t be the best choice as it comes with a moderately high interest rate, which can add to debt quickly.

      It also isn’t suited to international spending, as cardholders spending overseas will incur an overseas transaction fee and charges. However, earned flybuys points can be redeemed for travel rewards, so travellers may find this card to be useful despite the international charges. 

      What RateCity says

      The Coles No Annual Fee Mastercard comes with a number of potential advantages. While many rewards cards have with a moderately high to high annual fee, this card has no annual fee – which would be a big drawcard for certain customers.

      However, the interest rate is moderately high, which is something to consider if you aren’t confident you’ll be able to clear your balance on time each month. Likewise, the balance transfer offer is a nice incentive, but keep in mind that the introductory rate is for a limited time only.

      This card’s rewards program is also reasonably varied, so it offers a good amount of diversity in terms of what rewards are available. If you’re looking to mostly earn frequent flyer points or other particular rewards, though, you may want to see if you can find another credit card with a more specific rewards program. 

      Applying/eligibility

      The eligibility requirements for the Coles No Annual Fee Mastercard state that you must be over 18 years of age, earn at least $25,000 a year and legally be able to work in Australia. To apply, you will need to provide ID, personal and income details, and your flybuys number (if you have one). You can apply for a Coles No Annual Fee Mastercard at the Coles Financial Services website, and will usually receive a response within 60 seconds. 

      About the lender

      The Coles Credit Card portfolio is now owned by Citigroup Inc., a banking and financial services corporation headquartered in New York. Prior to this purchase, the Coles Credit Card portfolio was owned by Coles Financial Services as part of Coles Group. There are a range of Coles branded credit cards available, as well as prepaid cards and insurance products. Customers can manage their account through the Coles online Credit Card Service Centre, or get support via the lender’s phone hotline.

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