Coles Rewards Mastercard: $250 Gift Card and 0% Interest for 12 Months

The Coles Rewards Mastercard currently stands out with an appealing $250 Coles gift card for new cardholders who apply by 17 March 2026. This offer comes with a 0% per annum interest rate for the first 12 months on your purchases, reverting to 20.74% afterwards. The annual fee sits at $99, and the card is suited for everyday shoppers and those looking to maximise supermarket rewards. Eligible applicants must be over 18, permanent Australian residents, and have a steady income.

How to Apply

1. Check your eligibility (age, residency, income).
2. Gather your personal and financial documents (ID, payslips, etc.).
3. Visit the provider’s secure online application form.
4. Complete and submit your application.
5. Await approval notification and activate your card if successful.

Pros of the Coles Rewards Mastercard

The $250 gift card is a great incentive, providing real value for frequent Coles shoppers and offsetting the first-year annual fee. The 0% interest rate for 12 months gives new cardholders breathing space to manage purchases affordably if balances are cleared before the introductory period ends.

Cons of the Coles Rewards Mastercard

After the promotional 12 months, the interest rate returns to a relatively high 20.74%, which could be costly if balances remain unpaid. Additionally, the $99 annual fee may reduce net benefit for light spenders who don’t maximise rewards.

Veredicto

The Coles Rewards Mastercard is best suited for shoppers prepared to pay off their balance monthly and those who value supermarket rewards. If you can clear your balance on time, this offer delivers meaningful benefits and strong overall value over the first year.