Coles credit card does not want pensioners

Prior to applying for credit card with coles I checked my credit rating which was excellent - online application was declined. Received letter advising the same - phoned Coles - seems my fortnightly pension is insufficient to obtain Coles credit card - yet I have held another card for over 12 years with not one problem.


Easy solution, don’t get a Coles credit card. Obviously they don’t want your business.

They must think that you are either a risk (may not be able to repay any credit should it amass) or not a profitable customer (as you are unlikely to amass high credit - which could be evident from your ‘credit rating which was excellent’). Either way, go elsewhere and with someone who wants your business.


@phonemail1239 I’m just presuming this but it seems @phonemail1239 that you are a Coles customer and probably use their online service . I regularly use the online service myself and know that if you have one of their Coles Mastercard credit cards you gain advantages in delivery charges , prices and other bonuses along the way . It’s a shame that with such a good credit rating you were denied the card but that seems to be the way things are going these days despite research showing that our senior citizens are more credit card savvy than their younger counterparts . Check the research . My advice is that if the card you already have is a Mastercard is to transfer it over to a Coles Mastercard . I believe the mechanics are in place to do this . Apart from that I see no other way unfortunately . What is so ridiculous to me is that you are being denied the full benefits of trading with Coles because they seem to have drawn a line in the sand because of age .


I had my wife get a credit card in her own name a few years ago knowing how difficult it would be for her to get one when I am gone and she is retired. Even if her income is into the 6 figures she would need to provide all sorts of evidence that is not required while working for wages. Many small business people go through the same hurdles.

In modern life it is sound planning. You do not need a credit card but it makes many things easier as compared to managing debit cards or carrying cash.


Forward thinking seems to be the only thinking re credit cards . Used your strategy myself .

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Perhaps don’t tell them you’re a pensioner. Plus there’s a lot of pensioners who have a lot of $'s…

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Two things irsproul145,
Firstly I believe not telling them that you are on pension would mean you would invalidate the declaration you sign when you applying, and secondly, they do insist on knowing where your income comes from, I dont know how you could circumvent that.

Further on the Original Poster’s post, I have friends who just recently applied for and received a Coles Credit card and they are both on the Aged Pension - perhaps there is another reason you were declined, can you ask them?

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So they want to see bank statements ??? that’s illegal surely.

Tks for your reply, yes until a few days ago I was an online customer with Coles. I was unable to obtain either a new card or transfering card that I have held for 12years+. I was trying to obtain a better deal i.e interest rate and cost on renewal plus gain benefits of free delivery of groceries.


Advising your income and expenditure is part of the process, this was why I was declined. After being denied new card or transfer whilst online, I then received a letter declining my application. I was also told in that letter to check credit rating through Dunn and Bradstreet. I phoned Coles to verify why I was declined (low income) and why they were pushing Dunn and Bradstreet. Prior to applying I had already checked my credit rating.


Different credit cards have different minimum income limits, so even though you have one card it doesn’t mean you’ll get approved for another if your income is under their limit. According to the minimum income for all the Coles cards is $25000.


Yes I had the same problem with ME Bank Frank card my pension not enough points to obtain Frank card, however I have had a Master Card with them for over 15 years with no problems. They appear not to check your credit history or don’t care.

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Yes phonemail1239 - - the same thing happened to me. I tried twice last year and twice this year. Only applied for the smallest amount for daily shopping. Also have a couple of other which are paid off every month. Disappointing to be placed in the ‘poor basket’ !!!

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Interesting reading, given my recent experience with them. My parents (both pensioners) both had cards on my father’s account.

I contacted them earlier this year to advise of my mother’s death, and the fact that my father has dementia and will no longer need the account. Arrangements were made to close the account. Months later, new cards arrived for both parents. So, it seems that they must be happy to keep pensioners as customers, even if they are deceased, or otherwise no longer able to use a credit card. :unamused:

WTF would you want a coles credit card or any store card for that matter?

Coles CC interest rates is 19.99% if you need a credit card go to institution which has fee free and low rate (relatively speaking) cards such as ME Bank or Bank Australia just to name a few, both less than 10% but there are many others.

Anything more than 10% is expensive.

IMO anything more than 5% is a ripp-off but you cannot find CC’s at that figure because the finance industry is to greedy creaming mega profits off the Australian consumers addiction to using tomorrows money to pay for today’s expenses…

tndkemp - you should first investigate what is being offered by Coles Mastercard before replying


I don’t fall for the trap of honeymoon rates and other tricks to get me onto expensive credit.
The operators of these schemes don’t give interest free for periods just because they are generous. They know that they will reap their handsome reward with 20% interest rates for years into the future once the interest free period ends after a measly 12-15months.
They know as a society we are addicted on spending tomorrows earnings today and once they have their hooks into a new customer they will milk them for all its worth.
Back to my original point if you need another CC get a no frills low interest card from another institution and in 5 years time you will be streets ahead.

All that commentary is spot on. However, as miss_universe93 pointed out Coles (and most issuers) has a $25,000 (or more) minimum income hurdle.

People on very low incomes do not always have the financial choices others have. Their choice might be finding an issuer who will give them any sort of card, eg a choice of 0 or 1 offering.