Coles has a small selection of basic credit cards, including no-fee, low-rate, and rewards cards, to accommodate various client types. Depending on the type of card selected, Coles’ credit card rates range from moderately low to moderately expensive. As you might anticipate, the interest rate on its low-rate card is lower than the interest rate on other Coles credit cards.
Similar to this, depending on the specific credit card, Coles’ credit card fees might range from minimal to considerable. Customers of Coles credit cards are eligible to earn flybuys points on qualifying purchases, which can then be redeemed for gift cards and cash back.
On its credit cards, Coles also provides introductory balance transfer offers, with a moderately long interest-free period. The minimum and maximum credit card limits for Coles credit cards are both quite large.
Coles Bank History
Coles Group Limited is a publicly traded Australian company that operates various retail brands. The company’s main business activities revolve around the sale of food and groceries through its flagship Coles Supermarkets chain and the sale of alcohol and gasoline through its Coles Liquor and Coles Express shops. Since its establishment in Collingwood, Victoria, in 1914, Coles has expanded to become Australia’s second-largest retailer in terms of revenue, trailing only its main rival Woolworths.
Formerly known as Coles Myer Ltd. from 1986 to 2006, the Coles Group, which includes Coles Supermarkets, Coles Online, Coles Express, Coles’ liquor division, Coles’ financial division, and Flybuys, was owned by the Western Australian conglomerate Wesfarmers from 2007 until 2018, when it was spun-off and relisted as an independent public company on the Australian Stock Exchange.
Coles Low Maintenance Credit Cards
Coles Low Rate Mastercard
- 15% of purchases at 0% APR for 15 months, including a 6-month grace period on balance transfers.
- No BT fee is charged; the cash advance rate is reinstated.
- At Coles Supermarkets, you may earn one Flybuys Point for every $2 spent.
- Free insurance and access to your local Concierge, available around-the-clock.
Coles Reward Cards
Coles Rewards Mastercard
- 0% p.a. on balance transfers for six months together with 60,000 Flybuys bonus points, worth $300 in Flybuys Dollars.
- There are no BT fees. Get $2 in Flybuys points for every $1 spent on qualifying items.
- While shopping online or abroad, there are no costs for international transactions.
Coles No Annual Fee Mastercard
- 30,000 flybuys bonus points plus six months of 0% annual interest on balance transfers.
- There are no BT fees.
- For every qualified $2 you spend, you can earn one Flybuys Point.
- Additional cardholders of up to 4 are accepted without cost.
- Free purchase protection insurance as well as 24-hour local and international concierge services are provided.
- Synchronizes with Samsung Pay and Apple Pay.
Coles credit card eligibility
You must check a few Coles credit card eligibility boxes before applying for a Coles credit card. Although each card has its own set of requirements, you must satisfy the following ones for all of them:
Requirements
Age. At least 18 years of age is required.
Residence. You must be an Australian citizen or permanent resident.
How long is the application process?
If you have all the information you need prepared, you may apply for a Coles Mastercard online in about 10 minutes. After 60 seconds of submitting the application form, you’ll also receive a reply.
Information and paperwork required for application
You will be required to fill out a variety of personal and financial information on the application. This comprises:
- Personal information. Your entire name, date of birth, address, information about your family, and whether you own or rent your home. Also, you must provide information from your passport or driver’s license to prove your identification.
- If you have a pension or are retired. Financial information and supporting documents, such as your most recent pension statement, an annual superannuation statement with an indexed pension amount, a letter from Centrelink, or three months’ worth of personal bank statements with consistent credits or cash deposits.
- Financial information. Your earnings and possessions, such as savings or investment gains. additionally to your portion of recurring costs including rent, utilities, mortgage payments, and grocery purchasing.
- Indicate if you have a full-time or part-time job. Your current employment status, employment type, and contact information for your employer. further supporting records such as your two most recent paystubs, income-revealing bank statements, or your most recent Tax Assessment Notification.
- If you’re a freelancer. A description of your primary employment, your contact information, and a copy of your signed employment contract. Moreover, supporting documents that attest to your work status, duration of employment, and gross income include your two most recent pay stubs, your most recent individual tax return, or a letter from your employer that has been signed (dated in the last 30 days).
- If you work for yourself. Name of your accountant, name of the accounting firm, and phone number. Provide your two most recent Tax Assessment Notices as well (prepared or audited by an accountant). If you don’t have these records, you can still provide the Australian Taxation Office with your two most recent individual tax returns and two most recent individual notices of assessment.
- If you have a temporary job. Include information about your primary employment and your employer’s contact information, as well as any supporting documents you may have, including your two most recent pay stubs, your most recent tax return, or a letter signed by your employer confirming your employment status, duration of employment, and gross income (dated in the last 30 days).
The advantages of applying for a Coles credit card
Although each Coles Mastercard credit card has unique features, all of them come with the following Coles credit card benefits:
Save money when you purchase at Coles.
If you choose to utilize Flybuys points to receive a discount at the Coles checkout, you can quickly redeem 2,000 Flybuys points for $10 off your purchase at participating Coles Supermarkets by scanning the back of your Coles credit card. To receive money off your purchase, you must have a minimum of 2,000 Flybuys points in your account.
Flybuys Coles rewards program.
You only need to pull out one card at the register because Coles credit cards have your Flybuys membership information printed on the back of them. Coles rewards program and Coles No Annual Fee cards both offer points for $1 spent on eligible purchases made anywhere (even if it’s not a Flybuys partner), and the Coles Low Rate Mastercard offers points per $1 spent on eligible purchases made at Coles Supermarkets.
Offers for balance transfers.
By transferring your current credit card debt to a Coles Mastercard with a balance transfer offer, you can save money. For instance, the Coles No Annual Fee Mastercard offers 0% p.a. on balance transfers for the initial six months of card ownership, enabling you to reduce your debt faster and save money on interest fees. After the promotional time has ended, any amounts will accrue interest at the cash advance rate.
App for Coles Mobile Wallet.
This mobile app allows you to manage your finances, temporarily lock your card, pay with BPAY, check your Flybuys balance, and more. The Coles Online Service Centre allows you to manage your account if you’d rather use a web browser than an app.
Conclusion
In conclusion, there is a range of Coles credit card benefits, including access to exclusive discounts, rewards programs, and special financing options. However, eligibility for these cards varies, with some requiring a good credit score and others being available to anyone. It’s important to carefully review the terms and conditions before applying for any credit card.
Additionally, understanding the history of the bank behind the cards, Coles Financial Services, can give you a better idea of what to expect from their services. Overall, Coles Credit and Reward Cards can be a great choice for frequent Coles shoppers looking to save money and earn rewards.
FAQ
Q1. What are the benefits of using Coles credit cards?
Coles credit cards offer rewards points on eligible transactions, which can be redeemed for discounts or merchandise at specific shops. They also have low-fee options and introductory balance transfer offers.
Q2. Can Coles credit cards be used for other rewards programs?
No, Coles credit card rewards points can only be redeemed through the flybuys program, which is affiliated with Coles supermarkets and its partners.
Q3. Are Coles credit cards a good option for low-rate cards?
While Coles credit cards may have moderately low-interest rates, they are not the lowest on the market. Therefore, they may not be the best choice for people looking specifically for a low-rate credit card.