CommBank launches interest-free credit card Neo: here’s what you need to know
CommBank has officially launched its brand new interest-free credit card Neo, just three months after its announcement.
Customers who sign up for a Neo interest-free credit card will have their pick of three credit limits and are assigned a monthly fee based on the limit they have selected.
The credit limits and fees are:
- $12 monthly fee for $1,000 credit limit
- $18 monthly fee for $2,000 credit limit
- $22 monthly fee for $3,000 credit limit.
Customers can have the monthly fee waived if the credit card hasn’t been used and has an outstanding balance of $0 during the statement period.
There also no late or foreign exchange fees with this card, making it a budget-friendly option for any international online shopping.
Aside from interest-free spending, CommBank’s retail banking executive, Angus Sullivan believes the card is set to be a standout, thanks to its exclusive offers and benefits that will be available to cardholders.
“Using the full power of our innovation means CommBank Neo will also offer access to discounts and cash back offers with a range of retailers through CommBank Rewards,” he said.
To kick things off, the bank has announced a sweet cashback offer to go along with the launch of the new Neo card.
Aussies who sign up and are approved for a CommBank Neo card before 31 January, 2021 will receive $20 cashback, so long as they make a purchase within the first 30 days of activating the card.
For more information read Mozo's CommBank Neo Review!
Or if you’d like to find out how it stacks up to regular credit cards in the market, check out our credit card comparison tool.
Compare low rate credit cards - rates updated daily
- Apply By 1 August 2021
Bendigo Bank Low Rate Credit Card
0% p.a. balance transfer for 24 months (Reverts to 11.99% p.a). Low annual fee of $45 and no fees for additional cardholders.
Purchase rate
Balance transfer rate
Annual fee
11.99% p.a.0% p.a. for 24 months and then 11.99% p.a. (2.00% balance transfer fee)$45Low Rate Credit Card
0% p.a. balance transfer for 24 months (Reverts to 11.99% p.a). Low annual fee of $45 and no fees for additional cardholders.
- Purchase rate
- 11.99% p.a.
- Intro purchase rate
- -
- Balance transfer rate
- 0% p.a. for 24 months and then 11.99% p.a. (2.00% balance transfer fee)
- Cash advance
- 13.99% p.a.
- Interest free days on purchases
- 55
- Intro fee
- -
- Foreign exchange margin
- 3.00%
- Annual card fee
- $45
- Late payment fee
- $15.00
- Cash advance fee
- 0.50%, Min $3.25
Read our Mozo Review to learn more about the Low Rate Credit Card
Bankwest Breeze Mastercard
Enjoy 0% p.a on balance transfers for 26 months (2% BT fee applies) then 10.99% thereafter. No annual fee for the first year. Limited time only. Other fees, T&Cs apply. New Mastercard Breeze customers only.
Purchase rate
Balance transfer rate
Annual fee
10.99% p.a.0% p.a. for 26 months and then 10.99% p.a. (2.00% balance transfer fee)$49 $0 in the first yearBreeze Mastercard
Enjoy 0% p.a on balance transfers for 26 months (2% BT fee applies) then 10.99% thereafter. No annual fee for the first year. Limited time only. Other fees, T&Cs apply. New Mastercard Breeze customers only.
- Purchase rate
- 10.99% p.a.
- Intro purchase rate
- -
- Balance transfer rate
- 0% p.a. for 26 months and then 10.99% p.a. (2.00% balance transfer fee)
- Cash advance
- 21.99% p.a.
- Interest free days on purchases
- 55
- Intro fee
- 0.0
- Foreign exchange margin
- 2.95%
- Annual card fee
- $49 $0 in the first year
- Late payment fee
- $25.00
- Cash advance fee
- 2%, Min $4.00
Read our Mozo Review to learn more about the Breeze Mastercard
Defence Bank Foundation Credit Card
Defence Bank Low Rate Credit Card offers a 3.99% p.a. 6 month introductory rate on balance transfers, purchases and cash advances. Up to 55 days interest free on purchases.
Purchase rate
Balance transfer rate
Annual fee
3.99% p.a. for 6 months then 8.99% p.a.3.99% p.a. for 6 months and then 8.99% p.a.$45Foundation Credit Card
Defence Bank Low Rate Credit Card offers a 3.99% p.a. 6 month introductory rate on balance transfers, purchases and cash advances. Up to 55 days interest free on purchases.
- Purchase rate
- 3.99% p.a. for 6 months then 8.99% p.a.
- Intro purchase rate
- 3.99% p.a. for 6 months
- Balance transfer rate
- 3.99% p.a. for 6 months and then 8.99% p.a.
- Cash advance
- 8.99% p.a.
- Interest free days on purchases
- 55
- Intro fee
- -
- Foreign exchange margin
- 3.00%
- Annual card fee
- $45
- Late payment fee
- $20.00
- Cash advance fee
- 4.1
Read our Mozo Review to learn more about the Foundation Credit Card
St.George Vertigo
0% p.a. for 28 months on balance transfers requested at card application. 0% balance transfer fee applies. Rate then switches to applicable variable cash advance rate. New cards only, Eligibility criteria and T&Cs apply. Offer ends September 28th 2021.
Purchase rate
Balance transfer rate
Annual fee
13.99% p.a.0% p.a. for 28 months and then 21.49% p.a.$55Vertigo
0% p.a. for 28 months on balance transfers requested at card application. 0% balance transfer fee applies. Rate then switches to applicable variable cash advance rate. New cards only, Eligibility criteria and T&Cs apply. Offer ends September 28th 2021.
- Purchase rate
- 13.99% p.a.
- Intro purchase rate
- -
- Balance transfer rate
- 0% p.a. for 28 months and then 21.49% p.a.
- Cash advance
- 21.49% p.a.
- Interest free days on purchases
- 55
- Intro fee
- -
- Foreign exchange margin
- 3.00%
- Annual card fee
- $55
- Late payment fee
- $15.00
- Cash advance fee
- 2%, Min $2.50
Read our Mozo Review to learn more about the Vertigo
- Apply By 7 September 2021
Westpac Low Rate
Enjoy a super low rate of 13.74% with 55 days interest free plus 0% balance transfer for up to 28 months at 1% BT fee. No annual card fee for the first year, $59 thereafter.
Purchase rate
Balance transfer rate
Annual fee
13.74% p.a.0% p.a. for 28 months and then 21.49% p.a. (1.00% balance transfer fee)$59 $0 in the first yearLow Rate
Enjoy a super low rate of 13.74% with 55 days interest free plus 0% balance transfer for up to 28 months at 1% BT fee. No annual card fee for the first year, $59 thereafter.
- Purchase rate
- 13.74% p.a.
- Intro purchase rate
- -
- Balance transfer rate
- 0% p.a. for 28 months and then 21.49% p.a. (1.00% balance transfer fee)
- Cash advance
- 21.49% p.a.
- Interest free days on purchases
- 55
- Intro fee
- 0.0
- Foreign exchange margin
- 3.00%
- Annual card fee
- $59 $0 in the first year
- Late payment fee
- $15.00
- Cash advance fee
- 2%, Min $2.50, Max $150
Read our Mozo Review to learn more about the Low Rate
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