Your selected credit cards
Commonwealth Bank (CommBank) is the largest of Australia’s Big Four banks. It has a wide range of credit cards to choose from, including low rate, low fee and rewards credit card options, which can earn you CommBank Awards points or Qantas Points. Complimentary travel insurance is also available with some CommBank credit cards.
Low variable interest rate from CommBank
Up to 55 interest free days on new purchases
Complimentary insurances for purchases
Cashback offers available
$6 monthly fee
Doesn’t earn rewards points
International transaction fee of 3.50%
The Commonwealth Bank Low Rate credit card has a variable interest rate between 10.99% p.a. to 15.99% p.a., the higher of which is the highest available for a 'low rate' credit card in the Mozo database. However, the lower rate of 10.99% p.a. is relatively competitive.
However, unlike ANZ, NAB and Westpac, there’s no balance transfer offer with CommBank’s Low Rate card, so you’ll need to look elsewhere if that’s what you’re after.
We like that you can get up to 55 interest free days on new purchases with this card, which comes with the usual caveat of paying off your closing balance in full each billing period.
This card comes with a $6 monthly fee, setting you back $72 a year, but you do get access to a few perks in return. For example, you can earn $75 per month for the first six months when you spend $500 or more each month. This offer is exclusively available to new cardholders who are also CommBank Yello customers.
On top of this, you also get complimentary purchase security cover for lost, stolen or damaged items bought with your card – valid for 90 days from purchase – along with extended warranty insurance.
CommBank’s Low Rate card isn’t a rewards credit card, so you won’t earn any points for your purchases. Another drawback is that if you want to use this card overseas, an international transaction fee of 3.50% applies.
Your selected credit cards
Fantastic credit card I've been using for at least 10 years. Very helpful for budgeting. Categorises spends so you can see where you spend your money
Pros you get flexible payment terms and con is the interest rates and not much rewards
Commbank credit cards are the best value in terms of fees, customer service, and rewards
The Commonwealth Bank Awards Credit Card offers great benefits, particularly through the Qantas Awards program. Cardholders earn points that can be redeemed for flights, upgrades, and travel perks, making it an excellent choice for frequent Qantas flyers. However, accessing the Commbank Yelo Awards is frustrating, as it requires a savings account. This limitation feels restrictive for those who don’t want to link their credit card to an additional banking product. On the positive side, the app is exceptionally user-friendly. It’s intuitive and easy to navigate, allowing for seamless account management, points tracking, and spending monitoring. Commbank has clearly prioritized a smooth user experience. Additionally, the app feels secure to use. With features like biometric login and real-time alerts, I feel confident in the safety of my transactions. Overall, the Commonwealth Bank Awards Credit Card is a solid option for those looking for a great rewards program and a secure, user-friendly app. The restriction with Yelo Awards is a downside, but the overall value makes it a worthwhile choice for many users.
I have a credit card and am very happy with it do all my shopping and paying bill with the card
Had it for over 10 years good for the offers available
No rewards for both credit cards therefore I am Looking at other banks that offer rewards system for card usage
Have always been pleased with the customer service- this is really important to me. You can speak to a human!
CBA has good customer service from our experience. It can perhaps provide some opportunities for competitions.
Easy to deal with. Text message reminder about credit card payment requirements so they are not overlooked. Easyily man aged through Netbanking.
You can apply for a Commonwealth Bank credit card online or by visiting a branch.
To apply, you must:
You may need to provide:
The minimum credit limit for a Commonwealth Bank credit card varies depending on the card. Here’s an overview at the minimum credit limit for each card type:
Commonwealth Bank says that once you’ve applied for a credit card, you can get a response in 60 seconds. If you get approval, it can take up to seven working days to receive a physical credit card.
Travel insurance is available with select CommBank credit cards. To be eligible for CommBank’s international travel insurance, before you leave Australia you need to:
You can cancel a Commonwealth Bank credit card by:
To close your account, you’ll need to make sure any remaining balance is paid in full, and that there aren’t any pending or scheduled transactions on your account.
^See information about the Mozo Experts Choice Credit Card Awards
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