Broker guide
Coles Personal Loans: Availability and Servicing 2026
Have a Coles personal-loan enquiry or an existing account? Identify current availability, the legal credit provider and the documents needed for the file.
- Published
- Updated
Coles personal loans are no longer available for new applications. Former Coles Personal Loan accounts moved to MyCard Repay, while Coles-branded credit cards remain a separate product issued by National Australia Bank Limited (NAB).
For a broker recording a client’s liability, the brand on an old statement is only the starting point. Establish which account the client holds and whether it still has an outstanding debt before entering it into a lender’s assessment.
Identify the Product and Provider
A former Coles Personal Loan and a Coles Mastercard need different account records. Coles’ target market determinations identify personal loans as no longer for sale and list its credit cards separately.
NAB is the credit provider for Coles-branded credit cards. Historical Coles Personal Loan terms also identify NAB as the issuer after its acquisition of the business from Citigroup, with Citi assisting with administration.
The later Coles Personal Loan variation notice explains the change to MyCard Repay and the end of Citi’s transitional services. Keep that notice beside the old statement if the client’s records use different product names.
Match the account using the borrower’s name and account reference. Two documents with different branding can describe the same debt, so reconcile them before recording two liabilities.
New Applications and Existing Accounts
A client seeking a new Coles personal loan must choose another lender. MyCard’s historical product information also confirms that MyCard Repay is no longer for sale and existing customers cannot make new payments from the account.
For an existing former Coles loan, use MyCard’s servicing route. Its account access guide explains how to set up access using the MyCard user ID and registered mobile number. MyCard lists 13 24 84 for support, including customers who have no card number or cannot complete the first login.
For a Coles Mastercard, use the Coles Credit Cards customer hub, which links to its Online Service Centre and account support. The continuing card service does not reopen the former personal-loan product.
Closing an account to further spending does not establish that its debt has been repaid. The Coles loan variation notice expressly allows repayments after closure and removes the displayed credit limit and available credit.
Keep the Credit Assessment Accurate
Record the actual debt and repayment obligation from current account evidence. Apply the receiving lender’s treatment to the identified product instead of assuming every Coles-branded liability is a retail credit card.
Request the documents needed to reconcile the file:
- A current statement showing the account name, outstanding balance and payment due.
- The contract or financial table and any variation notice explaining the account’s present status.
- Details of instalment plans and any overdue amount affecting the required payment.
- A payout figure and repayment instructions if the debt will be cleared at settlement.
- Written confirmation of repayment or discharge if the client says the debt is already paid.
For a hypothetical example, a client supplies an old Coles loan statement and a current MyCard Repay statement showing $4,800 owing. Match their account references before recording the liability. A restriction on further spending does not make that $4,800 disappear.
Keep a Coles credit card’s limit and balance as separate facts where the lender requests both. For MyCard Repay, explain an absent credit-limit field using the variation notice instead of copying an obsolete limit into the file.
If settlement will clear the debt, retain the payout evidence and then the repayment confirmation. Finish the assessment with one reconciled liability record that shows what remains payable and how any proposed payout will be completed.
