Commonwealth Bank Low Fee Credit Card

Commonwealth Bank

19.74%

5.99% for 5 months and then 21.24%

$29 $0 when you spend over $1,000 p.a, $0 in the first 1 year

Commonwealth Bank Low Fee Credit Card Review

Review updated: 9 March 2015

Review published: 15 April 2013

What's hot:

  • $29 annual fee

  • $100 cash back when you activiate the lock, block and limit feature

What's not:

Mozo snapshot:

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 $29 annual fee ($0 in the first year and each year after when you spend over $1,000 p.a) 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.

New card applicants will also get $100 cash back when they activate one of the lock, block and limit security features on the card within the first 30 days and make a purchase. 

Key features:

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. 

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.

There is a $100 cash back offer with the card as long as you activate a lock, block and limit feature of the card within 30 days. What are the lock, block and limit features? The lock feature allows you to temporarily lock the card if you have misplaced it. The card blocking feature means that you can block set transactions such as overseas instore purchases or even online purchases when you are not travelling or shopping online. You can unblock them at any time via NetBank or the CommBank App. You can also use the blocking feature to stop ATM cash withdrawals with the credit card (a highly recommended thing to do) and finally you can also put a limit on purchase amounts so you can avoid big budget blowouts or spontaneous shopping expeditions.

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.

Any catches?

Be sure to keep a close eye on your repayment date as there is a $20 late payment fee.

To get the $100 cash back you will need to activate card and the lock, block and limit feature within 30 days and then make a purchase on the card. The $100 cashback will be credited to your account within 90 days of completing the steps.

How are Commonwealth Bank credit cards rated by the Mozo community?

Product Type Overall Rating Price Features Service Convenience Trust
7.3

Based on 1308
Commonwealth Bank credit cards reviews

6.2 6.4 7.5 8.0 7.6

Read Commonwealth Bank credit card reviews by the Mozo community

Latest reviews of Commonwealth Bank Low Fee Credit Card

Commonwealth Bank

Commonwealth Bank Low Fee Credit Card credit card review

Convenient, reliable, good customer service

Overall rating   8 / 10

I was able to make an appt to see someone in a comfortable office & have the card explained to me & all my questions answered. I felt I was important, that I wasn't wasting their time & my questions weren't stupid. Paying bills by BPay is... Full review

I was able to make an appt to see someone in a comfortable office & have the card explained to me & all my questions answered. I felt I was important, that I wasn't wasting their time & my questions weren't stupid. Paying bills by BPay is convenient to me & there's always someone available to answer questions on the phone.

    Price rating   8 / 10

    Features rating   5 / 10

    Service rating   9 / 10

    Convenience rating   8 / 10

    Trust rating   6 / 10

Less

- Michelle (SA)

flag Was this review helpful? Yes

Commonwealth Bank

Commonwealth Bank Low Fee Credit Card credit card review

Trustworthy bank

Overall rating   8 / 10

Really trustworthy and good service. Full review

Really trustworthy and good service.

    Price rating   7 / 10

    Features rating   8 / 10

    Service rating   9 / 10

    Convenience rating   9 / 10

    Trust rating   10 / 10

Less

- Sangeen (VIC)

flag Was this review helpful? Yes

Commonwealth Bank

Commonwealth Bank Low Fee Credit Card credit card review

Look elsewhere

Overall rating   4 / 10

The worst credit card I've had to date. Don't waste your time there are way too many hidden extras. Full review

The worst credit card I've had to date. Don't waste your time there are way too many hidden extras.

    Price rating   3 / 10

    Features rating   6 / 10

    Service rating   3 / 10

    Convenience rating   4 / 10

    Trust rating   1 / 10

Less

- Tegan (NSW)

flag Was this review helpful? Yes

Commonwealth Bank

Commonwealth Bank Low Fee Credit Card credit card review

Great customer service

Overall rating   8 / 10

Easy to use. Full review

Easy to use.

    Price rating   6 / 10

    Features rating   5 / 10

    Service rating   9 / 10

    Convenience rating   9 / 10

    Trust rating   9 / 10

Less

- Clare (VIC)

flag Was this review helpful? Yes

Commonwealth Bank

Commonwealth Bank Low Fee Credit Card credit card review

Which bank? Probably not this bank.

Overall rating   7 / 10

Not a bad rate on the interest. Customer service is not too bad, could be better. Full review

Not a bad rate on the interest. Customer service is not too bad, could be better.

    Price rating   7 / 10

    Features rating   4 / 10

    Service rating   8 / 10

    Convenience rating   7 / 10

    Trust rating   6 / 10

Less

- Lex (NSW)

flag Was this review helpful? Yes

Rates

  • 19.74%

  • none

  • 5.99% for 5 months and then 21.24%

  • yes

  • 21.24%

  • 55

Fees

  • $29.00

  • $0 in the first 1 year

  • 1000

  • none

  • $20.00

  • 2%, Min $2.50, Max $150

  • 3.00%

  • $0.00

  • $0.00

  • $0.00

Other financial bits

  • $25.00

  • 2.0

Features

  • 1

  • none

  • Receive $100 cash back on personal online applications when you make a purchase and use any lock, block or limit feature within the first 30 days.

About Commonwealth Bank

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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