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: 1 May 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

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 the freedom to use it wherever, whenever.

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.

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 1361
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

Overall rating   10 / 10

Best service and staff

It's the best, all you need, easy to access,easy to understand staff. All in one package. No need to hesitate.
Full review

It's the best, all you need, easy to access,easy to understand staff. All in one package. No need to hesitate.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Aqeel (VIC), reviewed 11 days ago

Was this review helpful? Yes

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Commonwealth Bank

Commonwealth Bank Low Fee Credit Card credit card review

Overall rating   8 / 10

Best product

Cheap and still all in.
Full review

Cheap and still all in.

    Price   8 / 10

    Features   8 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   8 / 10

Less

Eric (VIC), reviewed 11 days ago

Was this review helpful? Yes

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Commonwealth Bank

Commonwealth Bank Low Fee Credit Card credit card review

Overall rating   6 / 10

Low fee credit card

Credit card works fine. Have a mortgage so no fee involved .
Full review

Credit card works fine. Have a mortgage so no fee involved .

    Price   5 / 10

    Features   5 / 10

    Customer service   8 / 10

    Convenience   6 / 10

    Trust   10 / 10

Less

Iris (VIC), reviewed 11 days ago

Was this review helpful? Yes

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Commonwealth Bank

Commonwealth Bank Low Fee Credit Card credit card review

Overall rating   10 / 10

Service

The service at my bank is impeccable.
Full review

The service at my bank is impeccable.

    Price   6 / 10

    Features   5 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Noeleene (VIC), reviewed 12 days ago

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Commonwealth Bank

Commonwealth Bank Low Fee Credit Card credit card review

Overall rating   8 / 10

CBA meets my needs.

Helpful, lots of advice and ideas.
Full review

Helpful, lots of advice and ideas.

    Price   9 / 10

    Features   8 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   9 / 10

Less

Jo (ACT), reviewed 12 days ago

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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

  • none

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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