Coles Low Rate Mastercard

Pauline Hatch

Pauline is a personal finance expert at CreditCard.com.au, with 9 years in money, budgeting and property reporting under her belt. Ask Pauline a Question about this card.

The Coles Low Rate Mastercard

While you may not be a fan of their jingles, you might find Coles Credit Cards more appealing. As the name suggests, the Coles Low Rate Mastercard is this supermarket giant’s low rate credit card option, providing customers with the opportunity to save money on interest while earning rewards and enjoying a few perks along the way.

If you are a regular Coles shopper, this card may provide the benefits and rewards you need. Want to find out more? Let’s have a better look at what’s on offer.

What we love...

As an everyday card, the Coles Low Rate Mastercard certainly has plenty to offer. Cardholders have to stump up a relatively low annual fee to enjoy all the benefits of a Coles-orientated rewards card, including a low 13.49% p.a. on purchases PLUS, 0% p.a. on balance transfers for the first 15 months when you apply and get approved by 03 March 2025. This card lets you earn 1 point per $2 spent at Coles Supermarkets.

You can earn 1 Flybuys point for every $2 spent at Coles Supermarkets. Points earned can be redeemed against a wide range of rewards.

About the balance transfer intro offer. If you happen to have existing debt on other credit cards that you're trying to pay off, this card could be a suitable option for you.

You have to be wary of the 0% balance transfer offer as it may add to your debt if you don't pay it off in a timely manner. After the promo period, any unpaid balance transfers will incur a higher cash advance rate of 20.74% p.a. Also, it's worth noting that no interest-free days apply while you have a balance transfer.

The 15-month balance transfer 0% promotional period commences when the balance transfer is processed and you must make the balance transfer request within 90 days from approval to receive this offer.

What’s not so great...

With the Coles Low Rate Mastercard, there’s not too much to complain about. The annual fee is pretty affordable and the purchase rate is relatively low. While the cash advance rate is high – as it is with most credit cards – you can avoid it by simply not using the cash advance feature.

It is worth noting, however, that if you plan to use the card’s offer of up to 55 days interest-free on purchases, you will have to ensure the balance is paid off in full each statement period.

Why should you choose this card?

We’ve already touched on many of the benefits this card offers but it does have a few other tricks up its sleeve. As a Flybuys card and Mastercard rolled into one, it allows you to carry only one card, ensuring you always have it on hand to claim points as you spend.

Aside from allowing you to save on interest with up to 55 days interest-free on purchases (no interest-free days apply while you have a balance transfer), this card also gives you access to the Coles Mobile Wallet App and fraud management system.

Overall Rating

An incredibly useable shopping rewards card, offering some great features, a low 13.49% p.a. on purchases PLUS 0% p.a. on balance transfers for the first 15 months, all for an affordable annual fee.