Commonwealth Bank Low Fee Credit Card

  • Commonwealth Bank
  • 19.74%

  • 5.99% for 5 months and then 21.24%

  • $24 $0 if CBA customer when applying or spend over $1,000 p.a., $0 in the first 1 year

  • 55

Commonwealth Bank Low Fee Credit Card Review

Review updated: 16 September 2014
Review published: 15 April 2013

What's hot:

  • $24 annual fee

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 $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.

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. 

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.

Any catches?

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


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

Product Type Overall Rating Price Features Service Convenience Trust
Commonwealth Bank credit card 7.3 Based on 1187
Commonwealth Bank credit card reviews
6.1 6.2 7.5 8.0 7.5

Read Commonwealth Bank credit card reviews by the Mozo community

Latest reviews of Commonwealth Bank Low Fee Credit Card

  • Good, competitive and customer orientated.

    1. Overall customer rating
    2. (Reviewed 12 days ago)

    The Commonwealth Bank is extremely convenient for me. As everywhere I go there is an ATM or a Bank for me to use. I have never had a problem with them and their service is second to none. On a personal note I don't think taking out a teller...  Full review 

    The Commonwealth Bank is extremely convenient for me. As everywhere I go there is an ATM or a Bank for me to use. I have never had a problem with them and their service is second to none. On a personal note I don't think taking out a teller from behind the desk to act as a meet and greeter at some branches is a effective role to have in a bank. More tellers equal less waiting time in line for clients.


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    Commonwealth Bank credit card review by Sergio from Queensland

    1 person found this review helpful – do you? Yes flag

  • Cheap and easy to manage

    1. Overall customer rating
    2. (Reviewed 17 days ago)

    I have free credit so long as I use it for $1000 a year (easy when you do the grocery shopping). So I use it responsibly and don't have to worry about the interest rates. It is easy to manage on my online account.  Full review 

    I have free credit so long as I use it for $1000 a year (easy when you do the grocery shopping). So I use it responsibly and don't have to worry about the interest rates. It is easy to manage on my online account.


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    Commonwealth Bank credit card review by Natalie from Western Australia

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  • Great rate

    1. Overall customer rating
    2. (Reviewed 17 days ago)

    Credit card is good, low rate. Service over counter is really good but getting address changed over phone really poor!  Full review 

    Credit card is good, low rate. Service over counter is really good but getting address changed over phone really poor!


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    Commonwealth Bank credit card review by Hayley from Western Australia

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  • Super

    1. Overall customer rating
    2. (Reviewed 19 days ago)

    Personally, I like the bank because it is very efficient and reliable. I've used it in many circumstances and it has done me good. I mainly use it to buy gifts for my girlfriend which always manages to please :)  Full review 

    Personally, I like the bank because it is very efficient and reliable. I've used it in many circumstances and it has done me good. I mainly use it to buy gifts for my girlfriend which always manages to please :)


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    Commonwealth Bank credit card review by Scott from Queensland

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  • Good customer service but elderly feel excluded

    1. Overall customer rating
    2. (Reviewed about 1 month ago)

    CBA enjoys a good reputation with the general public mostly but even dedicated customers such as myself feel that it is much more rewarding to be a shareholder rather than a customer.  Full review 

    CBA enjoys a good reputation with the general public mostly but even dedicated customers such as myself feel that it is much more rewarding to be a shareholder rather than a customer.


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    Commonwealth Bank credit card review by Bev from Queensland

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  • Show more reviews

Rates

Purchase rate
19.74%
Intro purchase rate
none
Balance transfer rate
5.99% for 5 months and then 21.24%
Balance transfer revert to cash
yes
Cash advance rate
21.24%
Interest free days
55

Fees

Annual card fee
$24.00
Introductory fee
$0 in the first 1 year
Annual fee spend threshold
1000
Reward program fee
none
Late payment fee
$20.00
Cash advance fee
2%, Min $2.50, Max $150
Foreign exchange margin
3.00%
Duplicate statement fee
$0.00
Transaction verification fee
$0.00
Additional card fee
$0.00

Other financial bits

Minimum repayment amount
$25.00
Minimum repayment percent
2.0

Features

Additional cardholders
1
Other restrictions
none
Other benefits
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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