Why pay for flashy benefits like concierge services and rewards points when all you want in a credit card is convenience and a low interest rate? The Commonwealth Bank Low Rate credit card fits this bill very nicely. Not only will you get one of the lowest purchase rates of any of CommBank's credit cards at 13.99% p.a, if you pay off your balance in full each month you'll get up to 55 days interest free.
The monthly fee on the Low rate credit card is just $6 and if you need, you can get an additional card at no extra cost. Plus if you pay off your balance in full each statement period, you'll get 55 interest free days on purchases.
The Low Rate Card is connected to the Mastercard network so you can use the card in Australia and overseas wherever Mastercard is accepted, which in case you're wondering is at over 35 million locations worldwide. For purchases under $100 you can just Tap & Go with Mastercard PayPass and Apple Pay.
If you use the card for international purchases, whether they are done online or in person, just be aware there's a 3.50% international transaction fee on top of the Australian dollar amount so factor this into your shopping budget.
One of the great features of the Low Rate card is the lock, block and feature which enables you to control your spending and security. For instance, you can block your card from any overseas purchases if you are not travelling or you don't shop at international online stores. Of course if you do decide to go travelling you can unblock them again easily through NetBank or the CommBank App. You can also block your card from ATM cash withdrawals and you can even limit the maximum purchase amount per transaction if you want to really rein in your spending.
This card also comes with complimentary Purchase Security and Extended Warranty Insurance provided by Cover-More (T&Cs apply).
Receive up to $240 cashback, $60 each month for new customers when you spend $500 or more on purchases per month for the first 4 months (T&Cs apply). CommBank Yello tier customers receive up to $400 cashback, $100 per month, with a $500 monthly spend in the first 4 months (T&Cs apply).
The Commonwealth Bank Low Rate Card could be ideally suited to shoppers who want to minimise their interest payments - especially given the 6-month 0% p.a. special offer interest rate - but also don't need added extras like travel insurance or rewards points. This card has a minimum credit limit of $500 so it is also great for people who only want a credit card for occasional purchases that can be paid off easily within the interest free period.
It could be a good idea to take advantage of the payment reminder alerts because if you're late you'll be hit with a $20 late payment fee.
13.99% p.a. |
|
none |
|
No current offer |
|
none |
|
21.99% p.a. |
|
55 |
$72.00 |
|
none |
|
none |
|
none |
|
$20.00 |
|
3%, min $4.00, max $300 |
|
3.50% |
|
$0.00 |
|
$0.00 |
|
$0.00 |
$25.00 |
|
2.0 |
|
1 |
|
none |
Apple Pay, Google Wallet, Samsung Pay, Garmin, Fitbit
Extended Warranty,
Purchase Protection
Receive up to $240 cashback, $60 each month for new customers when you spend $500 or more on purchases per month for the first 4 months. CommBank Yello tier customers receive up to $400 cashback, $100 per month, with a $500 monthly spend in the first 4 months.
Have been a Commbank customer for as long as I can remember. Parents had signed us up with Dollarmites in primary school. Just always thought this was the best option though started to realise how wrong that was when I started looking elsewhere. The card is convenient if you can repay on time though you soon become swamped with fees for everyday transactions. A quick search online showed me there are far better options to suit my day to day spending while saving along the way. I contacted the bank after seeing these options to see what they could offer though the multiple people I spoke to were only concerned about if I was leaving and couldn't offer anything close to what I found. They essentially said good luck our there though we can't do anything. Shocking response from a company I have been with for 20+ years. Don't fall into the same dollarmite trap I did. Banks have changed since your parents days. Do some research, find the best option for you.
Read full reviewHave been a Commbank customer for as long as I can remember. Parents had signed us up with Dollarmites in primary school. Just always thought this was the best option though started to realise how wrong that was when I started looking elsewhere. The card is convenient if you can repay on time though you soon become swamped with fees for everyday transactions. A quick search online showed me there are far better options to suit my day to day spending while saving along the way. I contacted the bank after seeing these options to see what they could offer though the multiple people I spoke to were only concerned about if I was leaving and couldn't offer anything close to what I found. They essentially said good luck our there though we can't do anything. Shocking response from a company I have been with for 20+ years. Don't fall into the same dollarmite trap I did. Banks have changed since your parents days. Do some research, find the best option for you.
I banked with CBA years ago and was really happy with them. The only reason I changed banks was a lower mortgage interest rate. However I came back to CBA about 10yrs ago and very happy with the service. They state all their call centres address on Australia. I find the service very good on the phone which is how I deal with them mainly. The person at the CBA door as you walk in a branch is helpful and assists in getting you sorted quickly. My job involves property and people borrowing. I find CBA seem to be the most popular in lending with my clients.
Read full reviewI banked with CBA years ago and was really happy with them. The only reason I changed banks was a lower mortgage interest rate. However I came back to CBA about 10yrs ago and very happy with the service. They state all their call centres address on Australia. I find the service very good on the phone which is how I deal with them mainly. The person at the CBA door as you walk in a branch is helpful and assists in getting you sorted quickly. My job involves property and people borrowing. I find CBA seem to be the most popular in lending with my clients.
Good card great low rate easy app to use
Read full reviewGood card great low rate easy app to use
Commonwealth is good with their clients and very trustworthy but their fees and rates are increasing that’s all.
Read full reviewCommonwealth is good with their clients and very trustworthy but their fees and rates are increasing that’s all.
It was quick and easy to sign up. Everything was online. Easy to use and easily accessible
Read full reviewIt was quick and easy to sign up. Everything was online. Easy to use and easily accessible
Low Rate Card
13.49% p.a.
0% p.a. for 28 months and then 21.74% p.a. (2.00% balance transfer fee)
$59 $0 in the first year
Platinum Edge Credit Card
23.99% p.a.
No current offer
$195 $0 in the first year
Membership Rewards
Platinum Visa Credit Card
19.99% p.a.
No current offer
$299
Qantas Frequent Flyer
Qantas Ultimate Card
23.99% p.a.
No current offer
$450
Qantas Frequent Flyer
Explorer Credit Card
23.99% p.a.
No current offer
$395
Membership Rewards
Velocity Platinum Card
23.99% p.a.
No current offer
$375
Velocity Frequent Flyer
Qantas Discovery Card
23.99% p.a.
No current offer
$0
Qantas Frequent Flyer
Qantas Ultimate Card
Qantas Frequent Flyer
$450
100,000
1.25 points up to 100,000 points/year, then
1 point uncapped
Platinum Visa Credit Card
Qantas Frequent Flyer
$299
50,000
1 point up to 20,000 points/month
Qantas Rewards Premium Card
Qantas Frequent Flyer
$250 $150 in the first year
70,000
0.66 points up to $3,000/month, then
0.33 points up to $6,000/month
Qantas Premium Card
Qantas Frequent Flyer
$249
20,000
1 point uncapped
Rewards Signature Card
NAB Rewards
$295 $145 in the first year
160,000
1.25 points uncapped
Qantas Discovery Card
Qantas Frequent Flyer
$0
No current offer
0.75 points uncapped
Velocity Escape Card
Velocity Frequent Flyer
$0
No current offer
0.75 points uncapped
Qantas Rewards Signature Card
Qantas Frequent Flyer
$395 $295 in the first year
120,000
1 point up to $5,000/month, then
0.5 points up to $20,000/month
Low Rate Card
0% p.a. for 28 months and then 21.74% p.a. (2.00% balance transfer fee)
13.49% p.a.
$59 $0 in the first year
Premier Credit Card
0% p.a. for 6 months and then 22.24% p.a.
21.49% p.a.
$300 $150 in the subsequent years if you spend $48,000 on eligible purchases or cash advances in previous year., $150 in the first year
Citi Rewards Program
Blue Visa Credit Card
0% p.a. for 9 months and then 21.74% p.a.
0% p.a. for 9 months then 20.74% p.a.
$60
Q Rewards
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
0% p.a. for 24 months and then 20.99% p.a.
20.74% p.a.
$149 $0 in the first year
Velocity Frequent Flyer
More Mastercard
0% p.a. for 6 months and then 19.99% p.a. (1.00% balance transfer fee)
19.99% p.a.
$100
Bankwest More Rewards
Low Rate Card
13.49% p.a.
0% p.a. for 28 months and then 21.74% p.a. (2.00% balance transfer fee)
$59 $0 in the first year
Low Rate Credit Card
12.99% p.a.
0% p.a. for 20 months and then 25.99% p.a. (2.00% balance transfer fee)
$99
Low Rate Visa Credit Card
9.90% p.a.
No current offer
$59
Low Rate Credit Card
8.99% p.a.
0% p.a. for 6 months and then 8.99% p.a.
$59 $0 in the first year
Low Rate Card
13.49% p.a.
0% p.a. for 28 months and then 21.74% p.a. (2.00% balance transfer fee)
$59 $0 in the first year
Low Rate Credit Card
12.99% p.a.
0% p.a. for 20 months and then 25.99% p.a. (2.00% balance transfer fee)
$99
Low Rate Visa Credit Card
9.90% p.a.
No current offer
$59
Low Rate Credit Card
8.99% p.a.
0% p.a. for 6 months and then 8.99% p.a.
$59 $0 in the first year
Blue Visa Credit Card
0% p.a. for 9 months then 20.74% p.a.
0% p.a. for 9 months and then 21.74% p.a.
$60
Flex Card
0% p.a.
No current offer
$120 $10 monthly fee waived if the outstanding balance on the previous statement is paid in full by the due date.
StraightUp Card
n/a
No current offer
$240 $20/month - waived if no spend & no balance owing