5.99% for 5 months and then 21.24%
$24$0 if CBA customer when applying or spend over $1,000 p.a.
If you're after a credit card for your everyday spending that's low on fees, the Commonwealth Bank Low Fee Credit Card could be the answer. It has a low $24 annual fee (possibly fee-free if you're an existing CommBank customer) and all the features that you want in a credit card like up to 55 interest free days, fraud protection and the freedom to use it wherever, whenever.
You can use the Commonweath Bank Low Fee Card anywhere in the world where MasterCard is accepted - that's over 32 million locations around the world in case you're wondering. It also comes with PayPass, so you can just tap and go for purchases under $100.
While there is a low $24 annual fee, the purchase rate is 19.74% so this is not a card that you'll want to have a high ongoing balance on. Pay off your card in full each month and you'll get to enjoy up to 55 interest free days. If you have debt that you want to transfer over from another credit card you will get a 5.99% balance transfer rate for 5 months. Just be sure to knock down that debt in the low interest period as any remaining balance will get rolled over to the high 21.24% cash advance rate.
If you are a Sydneysider or want an excuse to visit Sydney, as a Low Fee cardholder you will get access to the MasterCard Priceless Sydney service which gives you access to exclusive dining, entertainment and sporting events in Sydney.
Who it's good for:
This credit card is good for those that want the convenience of a credit card but don't want to pay for extras like concierge services or rewards points.
The Low Fee card also has a low minimum credit limit of $500 so it is a good card for anyone who wants to limit their monthly credit spending.
Be sure to keep a close eye on your repayment date as there is a $20 late payment fee.
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Based on 1187
Commonwealth Bank credit card reviews
Read Commonwealth Bank credit card reviews by the Mozo community
Bad interest rates
With interest rates as low as they are, all the banks are ripping customers off with their credit card interest rate. Also if you pay more than the minimum one month and don't pay the next month, if the minimum is covered in the previous month fo... Full review
With interest rates as low as they are, all the banks are ripping customers off with their credit card interest rate. Also if you pay more than the minimum one month and don't pay the next month, if the minimum is covered in the previous month for this month, then you should not be charged a late fee. Late fees are also put on the next day after payment is due and are very hard to have reversed. They make enough with their high interest rates. It is also very time consuming to switch from one bank to another.
Easy and is accepted everywhere :) Full review
Easy and is accepted everywhere :)
I love this bank because it is very convenient. It has many ATMs around the city and there are so many ways to pay using their cards. Full review
I love this bank because it is very convenient. It has many ATMs around the city and there are so many ways to pay using their cards.
The Personal Service I received was amazing! Full review
The Personal Service I received was amazing!
Too many phone calls if a little late
I like the bank the only thing I don't like is the constant harassment when your payment is overdue by telephone, a text message would be sufficient. Full review
I like the bank the only thing I don't like is the constant harassment when your payment is overdue by telephone, a text message would be sufficient.
The Commonwealth Bank might be one of Australia's oldest and largest banks, but lately it's determined to do things differently. The Commonwealth Bank reckons it's focusing more on customer service and earning your business rather than counting on it. If you like the sound of that, then check out the Commonwealth Bank's wide range of personal banking products, including term deposits, savings accounts, credit cards, home loans and personal loans.
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