Commonwealth Bank Low Fee Credit Card

  • Commonwealth Bank
  • 19.74%

  • 5.99% for 5 months and then 21.24%

  • $24 $0 when you spend over $1,000 p.a

  • 55

Commonwealth Bank Low Fee Credit Card Review

Review updated: 24 February 2015
Review published: 15 April 2013

What's hot:

  • $24 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 $24 annual fee ($0 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. 

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.

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
Commonwealth Bank credit card 7.3 Based on 1293
Commonwealth Bank credit card reviews
6.2 6.3 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

  • Good product but bank service not so good

    1. Overall customer rating
    2. (Reviewed 22 days ago)

    The Commonwealth Bank phone service seems much better than the bank face to face service. I have had documents lost and given wrong advice to follow after visiting a branch. Phone staff seem to be always rectifying and following up after bank sta...  Full review 

    The Commonwealth Bank phone service seems much better than the bank face to face service. I have had documents lost and given wrong advice to follow after visiting a branch. Phone staff seem to be always rectifying and following up after bank staff have stuffed up. I have little confidence that what staff say they are going to do is what they actually carry through with. The Commonwealth bank have changed their face to face services but I am not sure that this a change for the better.


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    Commonwealth Bank credit card review by Debbie from Queensland

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  • Great low fee for the price conscious individual

    1. Overall customer rating
    2. (Reviewed 24 days ago)

    A cheap low fee card that is great for everyday purchases for the price conscious individual. No rewards or added features are the cons.  Full review 

    A cheap low fee card that is great for everyday purchases for the price conscious individual. No rewards or added features are the cons.


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    Commonwealth Bank credit card review by Chau from Queensland

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  • Happy but looking at other options

    1. Overall customer rating
    2. (Reviewed 24 days ago)

    I like that their systems are advanced and the online banking is structured and set up really well. They also have good security service on the accounts and will call you if there has been an 'out-of-routine' charge to your card to confirm that ...  Full review 

    I like that their systems are advanced and the online banking is structured and set up really well. They also have good security service on the accounts and will call you if there has been an 'out-of-routine' charge to your card to confirm that it was you making the charge.


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    Commonwealth Bank credit card review by Myf from New South Wales

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  • Fantastic product, helpful staff. Great phone app

    1. Overall customer rating
    2. (Reviewed 26 days ago)

    Great credit card, good interest fee period. Helpful staff, and awesome features.  Full review 

    Great credit card, good interest fee period. Helpful staff, and awesome features.


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    Commonwealth Bank credit card review by Ryan from Victoria

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  • Continuous support and review and staff helpful

    1. Overall customer rating
    2. (Reviewed 26 days ago)

    Have great continuous support from staff at Commonwealth bank. Unable to meet payments due to ill health, staff suggested options, assisted with filling out information to claim insurance to access assistance with payment until able to restart act...  Full review 

    Have great continuous support from staff at Commonwealth bank. Unable to meet payments due to ill health, staff suggested options, assisted with filling out information to claim insurance to access assistance with payment until able to restart actual payments when well. Very accommodating and assisted with other stressful banking situations during this time. Rang to see if needed further assistance and offered further help if required.


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    Commonwealth Bank credit card review by Lorraine from New South Wales

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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
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
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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