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 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 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 about the new CommBank Neo interest-free card, check out our 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 - last updated January 23, 2021
Bendigo Bank Low Rate Credit Card
Bonus $150 Woolworths Supermarket Gift Card when you spend $1,000 on eligible purchases within 90 days of opening your account. 0% on purchases for 15 months from account opening (Reverts to 11.99% p.a) Annual fee of $45 and no fees for additional cardholders.
Purchase rate
Balance transfer rate
Annual fee
0% p.a. for 15 months then 11.99% p.a.No current offer$45CompareCompareLow Rate Credit Card
Bonus $150 Woolworths Supermarket Gift Card when you spend $1,000 on eligible purchases within 90 days of opening your account. 0% on purchases for 15 months from account opening (Reverts to 11.99% p.a) Annual fee of $45 and no fees for additional cardholders.
- Purchase rate
- 0% p.a. for 15 months then 11.99% p.a.
- Intro purchase rate
- 0% p.a. for 15 months
- Balance transfer rate
- No current offer
- 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 yearCompareCompareBreeze 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.$45CompareCompareFoundation 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
ME frank Credit Card
Meet Frank, a low rate credit card with up to 55 interest free days, no annual fee and no strings attached. If simple, hassle free spending is your goal, you and Frank might be a match made in heaven.
Purchase rate
Balance transfer rate
Annual fee
11.99% p.a.No current offer$0CompareComparefrank Credit Card
Meet Frank, a low rate credit card with up to 55 interest free days, no annual fee and no strings attached. If simple, hassle free spending is your goal, you and Frank might be a match made in heaven.
- Purchase rate
- 11.99% p.a.
- Intro purchase rate
- -
- Balance transfer rate
- No current offer
- Cash advance
- 11.99% p.a.
- Interest free days on purchases
- 55
- Intro fee
- -
- Foreign exchange margin
- 2.30%
- Annual card fee
- $0
- Late payment fee
- $10.00
- Cash advance fee
- 2%, Min $4.00
Read our Mozo Review to learn more about the frank Credit Card
St.George Vertigo
0% p.a. for 24 months on balance transfers requested at card application. No balance transfer fee. Rate then switches to applicable variable cash advance rate. First year annual card fee waived for the first year ($55 thereafter). Available to new cards only, Eligibility criteria and T&Cs apply. Offer ends March 30th 2021. Mozo Experts Choice Balance Transfer Credit Card Winner 2020^.
Purchase rate
Balance transfer rate
Annual fee
13.99% p.a.0% p.a. for 24 months and then 21.49% p.a.$55 $0 in the first yearCompareCompareVertigo
0% p.a. for 24 months on balance transfers requested at card application. No balance transfer fee. Rate then switches to applicable variable cash advance rate. First year annual card fee waived for the first year ($55 thereafter). Available to new cards only, Eligibility criteria and T&Cs apply. Offer ends March 30th 2021. Mozo Experts Choice Balance Transfer Credit Card Winner 2020^.
- Purchase rate
- 13.99% p.a.
- Intro purchase rate
- -
- Balance transfer rate
- 0% p.a. for 24 months and then 21.49% p.a.
- Cash advance
- 21.49% p.a.
- Interest free days on purchases
- 55
- Intro fee
- 0.0
- Foreign exchange margin
- 3.00%
- Annual card fee
- $55 $0 in the first year
- Late payment fee
- $15.00
- Cash advance fee
- 2%, Min $2.50
Read our Mozo Review to learn more about the Vertigo
^See information about the Mozo Experts Choice Credit Cards Awards
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