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: 31 July 2015

Review published: 15 April 2013

What's hot:

  • $29 annual fee ($0 first year)

  • Annual fee waived every year you spend over $1,000 p.a

  • Receive 5% cash back for "tap and go" purchases (up to $50 per month)

What's not:

  • 19.74% purchase rate

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 5% cash back on "tap and go" payments under $100 (up to $50 a month) in the first 3 months. 

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 a 5% cash back offer on PayPass transactions, so you can just "tap and go" for purchases under $100 and receive something for nothing. Just keep in mind the cash back offer is only available for the first 3 months and you'll need to apply by 30 September 2015 and activate by 31 October 2015. 

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.

This card also comes with innovative lock, block and limit features. What are they? 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, and try to pay your balance in full every month to avoid the hefty 19.74% interest rate.

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

Product Type Overall Rating Price Features Service Convenience Trust
7.3

Based on 1472
Commonwealth Bank credit cards reviews

6.2 6.4 7.4 7.9 7.5

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

Overall rating   10 / 10

Good to deal with

Good customer service.
Full review

Good customer service.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Michele (QLD), reviewed 1 day ago

Was this review helpful? Yes

Flag this review

Commonwealth Bank

Commonwealth Bank Low Fee Credit Card credit card review

Overall rating   5 / 10

Easy access to your account.

Like any bank they only want your money, they don't care about your needs.
Full review

Like any bank they only want your money, they don't care about your needs.

    Price   6 / 10

    Features   7 / 10

    Customer service   7 / 10

    Convenience   8 / 10

    Trust   3 / 10

Less

Vicki (QLD), reviewed 1 day ago

Was this review helpful? Yes

Flag this review

Commonwealth Bank

Commonwealth Bank Low Fee Credit Card credit card review

Overall rating   4 / 10

Rate too low

Not happy with the rate.
Full review

Not happy with the rate.

    Price   4 / 10

    Features   4 / 10

    Customer service   4 / 10

    Convenience   6 / 10

    Trust   4 / 10

Less

Alex (NSW), reviewed 17 days ago

Was this review helpful? Yes

Flag this review

Commonwealth Bank

Commonwealth Bank Low Fee Credit Card credit card review

Overall rating   4 / 10

Not happy with the one I've got.

All banks need to stop charging the customer high interest rates on credit cards.
Full review

All banks need to stop charging the customer high interest rates on credit cards.

    Price   4 / 10

    Features   5 / 10

    Customer service   3 / 10

    Convenience   7 / 10

    Trust   5 / 10

Less

Sheryl (VIC), reviewed 24 days ago

Was this review helpful? Yes

Flag this review

Commonwealth Bank

Commonwealth Bank Low Fee Credit Card credit card review

Overall rating   7 / 10

Once card is paid I'm out

They need to provide better banking solutions for people on the dole / aus study.
Full review

They need to provide better banking solutions for people on the dole / aus study.

    Price   3 / 10

    Features   2 / 10

    Customer service   7 / 10

    Convenience   3 / 10

    Trust   3 / 10

Less

Dean (QLD), reviewed about 1 month ago

Was this review helpful? Yes

Flag this review

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

  • Apply by 30 September 2015 and get 5% cash back on contactless purchases under $100 made during the first 3 months from card activation, up to $50 a month.

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.

Compare other credit cards