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Our verdict

Offers 30,000 bonus Flybuys points and no annual fee ever, with a 19.99% p.a. interest rate for purchases.

The Coles No Annual Fee Mastercard is one of the few credit cards offering both rewards and no annual fee. Right now, it offers 30,000 bonus Flybuys points when you apply through Finder by 29 February 2024 and spend $3,000 on eligible purchases in the first 90 days from card approval. That’s enough points to redeem $150 Flybuys dollars for shopping at Coles Supermarkets, Kmart, Target and other partners. Or, you could convert them to 15,000 Velocity Points for frequent flyer rewards. This isn’t the biggest bonus points offer on the market, but it is competitive for a card with an ongoing $0 annual fee, because they rarely offer bonus points.

The Coles No Annual Fee Mastercard also earns the equivalent of 0.5 Flybuys points per $1 on eligible purchases even with brands that aren’t already Flybuys partners. But with a 19.99% p.a. interest rate for purchases, you'll typically get the most value from this card if you can pay off what you spend by the due date on each statement to get up to 55 interest-free days on purchases.

Pros

30,000 bonus Flybuys points
Ongoing $0 annual fee
0% p.a. on balance transfers for 12 months, with no BT fee
Earn Flybuys points for your spending

Cons

Flybuys points earn rate is low at the equivalent of 0.5 points per $1 spent
Relatively high interest rate for balance transfers after the introductory period

The Coles No Annual Fee Mastercard was highly commended in the 2023 Finder Awards Best No Annual Fee Credit Card category. As well as bonus points, this offer gives you a way to save on existing debt with 0% p.a. interest on balance transfers for the first 12 months and no balance transfer fee. But you won’t get interest-free days for purchases when you have a balance transfer, so it’s a good idea to focus on paying it off before using this card to shop and earn points.

Details

Product details

Product Name	Coles No Annual Fee Mastercard - Exclusive Offer
Balance transfer rate p.a.	0% for 12 months, then 19.99%
Balance transfer limit	80% of available limit
Purchase rate p.a.	19.99%
Interest-free period	Up to 55 days on purchases
Cash advance rate p.a.	19.99%
Min credit limit	$1,000
Card type	Mastercard

Eligibility

Joint application

Rewards

Rewards program	Flybuys
Bonus points	30,000
Rewards points per $ spent	0.5
Rewards points cap	Uncapped

Fees

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

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

New cardholder. The bonus points and balance transfer offers are only available to new customers who apply through the link on Finder.
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.
Eligible balance transfer debt. If you are planning to transfer a balance to the Coles No Annual Fee Mastercard, you can transfer up to 80% of your available credit limit.

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 to 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

30,000 bonus Flybuys points. You'll get 30,000 bonus Flybuys points when you apply through the link on Finder by 29 February 2024 and spend $3,000 on eligible purchases in the first 90 days from card approval. The bonus points will be credited to your account within 4 weeks of meeting the spend criteria.
Balance transfer offer. Apply through the link on Finder by 29 February 2024 and you'll get 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 has an ongoing $0 annual fee.
Flybuys points. This card offers the equivalent to 0.5 Flybuys points per $1 on eligible purchases. Points are awarded in whole numbers and rounded down. Eligible purchases cover most everyday transactions including groceries, petrol and dinig. 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. You can 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 Apple Pay, Samsung Pay, and Google 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, which is around the average standard interest rate for credit cards in Australia.
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 the 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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Marty

January 28, 2024

Coles No Annual Fee Mastercard – Exclusive Offer .. there is no link to their site? I assume the deal has finished?

Amy Bradney-George Finder

January 29, 2024

Hi Marty,

Yes, there is currently a link to this offer, which will be removed when it is no longer available.

Joan Cansdale

January 05, 2024

I am retired and I am trying to apply for the mastercard. I do not have an account.(WHY would I need one???) however application will not let me proceed past this point

Sarah Megginson Finder

January 10, 2024

Hi Joan,

We’re a comparison site so we can’t provide any help on this. We suggest you contact the customer care team at Coles Mastercard on 1300 306 307.

Andrew B

January 02, 2024

What are eligible purchases? If I go overseas will purchases there count toward the 3000 requirement for Fly Buys?

Sarah Megginson Finder

January 05, 2024

Hi Andrew,

Eligible purchases refer to most everyday transactions like retail shopping, paying an invoice, bookings travel and shopping online. This should include purchases made overseas, although note that these will be subjected to a foreign currency transaction fee of 2.5%.

Ineligible purchases for the purpose of meeting a spend requirement usually include things like: online gambling, interest, fees, cash advances, government payments (eg ATO), balance transfers and BPAY transactions.

Hope this helps!

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December 27, 2023

is there a fee if I do not use the card in a month? currently comm bank is charging $3 a month for not using the card. thanks

Sarah Megginson Finder

January 05, 2024

Hi Jo, No, there is no fee payable on this account if you don’t use it during the month.

Faye Anne

December 23, 2023

Is there a minimum monthly use on this card

Some months I may not use the card

Amy Bradney-George Finder

December 27, 2023

Hi Faye,

You don’t have to use the card every month and there is no requirement to use it regularly. But you do need to pay at least the minimum amount listed on each (monthly) credit card statement by the due date. I hope this helps.

Coles No Annual Fee Mastercard – Exclusive Offer

Pros

Cons

How to apply

Eligibility criteria

Required documents

Card benefits

Rates & fees

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