Coles Rewards Mastercard — $250 Gift Card & 0% Interest for 12 Months

Introducing the Coles Rewards Mastercard, a feature-rich credit card designed for everyday Australian shoppers who want to maximise value with every purchase. For a $99 annual fee, new approved customers can score a $250 Coles gift card if they apply before 17 March 2026. The card also delivers 0% interest on purchases for the first 12 months and then shifts to a competitive 20.74% p.a. interest rate.

Accessible credit limits are available, though they’re tailored according to your application and financial capacity. To unlock the sign-up rewards, ensure you meet minimum spend requirements as detailed in the terms and conditions. The annual fee is charged from the outset, but for those who are frequent Coles shoppers, the upfront gift card and ongoing reward earnings provide immediate value.

How to Apply for the Coles Rewards Mastercard

• Check if you meet eligibility: 18 years or older, Australian resident, with a reliable income.
• Gather key documents—ID, income evidence, current debts and assets.
• Complete the digital application via the provider’s official website.
• Wait for assessment; you might be asked to provide extra information.
• On approval, activate the card and start meeting the spend requirement for your one-off Coles bonus gift card.

Key Advantages

The $250 Coles gift card gives new customers an immediate reward, making it especially good for regular Coles shoppers. The 0% interest period can assist with planned large purchases early in your card membership, letting buyers stagger repayments over 12 months interest-free.

On top of that, customers have access to the full suite of Mastercard features, including digital wallet compatibility and the convenience of contactless payments, which enhances everyday usability.

Potential Drawbacks

The $99 annual fee begins from the first year, so only those who maximise reward redemptions may see real net benefit. After the 12-month introductory period, the 20.74% p.a. revert interest rate is fairly standard but can be a disadvantage for cardholders who carry a balance.

Also, you need to hit a set minimum eligible spend to access the $250 gift card. Overspending to earn the bonus could reduce overall value if you’re not a frequent Coles shopper.

Final Verdict

The Coles Rewards Mastercard delivers upfront value for everyday Australians looking to maximise food shopping rewards and enjoy a year of 0% interest. This card is best matched with those who repay in full each month and capitalise on the gift card and loyalty points. However, keep the annual fee and revert rate in mind to ensure long-term value.