Commonwealth Bank Low Fee Credit Card

  • Commonwealth Bank
  • 0.00% for 10 months then 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.

  • 55

Commonwealth Bank Low Fee Credit Card Review

Review updated: 2 July 2014
Review published: 15 April 2013

What's hot:

  • $24 annual fee
  • Up to $200 cash back

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. 

There is a low $24 annual fee and if you apply by 15 September 2014 and are approved by 15 October 2014 you will get a great intro purchase rate of 0% for 10 months. After the 0% interest free period ends 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 6.8 Based on 80
Commonwealth Bank credit card reviews
5.8 6.0 7.0 8.0 7.1

Read Commonwealth Bank credit card reviews by the Mozo community

Latest reviews of Commonwealth Bank Low Fee Credit Card

  • Fantastic security and terrific customer service.

    1. Overall customer rating
    2. (Reviewed 9 days ago)

    We have found the security & customer service to be very efficient & there are branches everywhere as well as easy access to ATMs in most towns.  Full review 

    We have found the security & customer service to be very efficient & there are branches everywhere as well as easy access to ATMs in most towns.


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    Commonwealth Bank credit card review by Lynette from Victoria

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  • Fairly competitive interest rate

    1. Overall customer rating
    2. (Reviewed 10 days ago)

    Is a basic card that offers reasonable interest rates but few other rewards or bonuses.  Full review 

    Is a basic card that offers reasonable interest rates but few other rewards or bonuses.


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    Commonwealth Bank credit card review by Joe from Western Australia

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  • Great Credit Card

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

    The best thing about this credit card is there are no fees if you purchase of 2000$ for that year. Great interest free time frame. Accurate calculations.  Full review 

    The best thing about this credit card is there are no fees if you purchase of 2000$ for that year. Great interest free time frame. Accurate calculations.


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    Commonwealth Bank credit card review by Ahsan from Victoria

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  • Great customer service, trustworthy

    1. Overall customer rating
    2. (Reviewed 16 days ago)

    I find Commonwealth to be trustworthy, and they have a lot fewer problems than other banks. Be wary of signing up online though, my offer was changed when I signed up and because I didn't have paperwork I had no proof of what I actually signed up ...  Full review 

    I find Commonwealth to be trustworthy, and they have a lot fewer problems than other banks. Be wary of signing up online though, my offer was changed when I signed up and because I didn't have paperwork I had no proof of what I actually signed up for.


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    Commonwealth Bank credit card review by Sarah from Victoria

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  • Great service and easy access

    1. Overall customer rating
    2. (Reviewed 16 days ago)

    Having had the account for 30 years, we have a very good deal with the option to vary the levels of the card from time to time.  Full review 

    Having had the account for 30 years, we have a very good deal with the option to vary the levels of the card from time to time.


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    Commonwealth Bank credit card review by Barry from Western Australia

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Rates

Purchase rate
19.74%
Intro purchase rate
0.00% for 10 months
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
none
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
Purchase rate offer available for applications received by 15 September 2014 and approved by 15 October 2014.

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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