Commonwealth Bank credit cards

3.5
Based on 8,575 Commonwealth Bank credit card product reviews.
Fact Checked
Last updated

About Commonwealth Bank 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.

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Editor’s pick: Commonwealth Bank Low Rate credit card

Low Rate Credit Card

Purchase rate
15.99 % p.a.
Balance transfer rate
No current offer
Annual fee
$72
Rewards program
-
No Partner link
  • 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%

Our verdict

The Commonwealth Bank Low Rate credit card has a variable interest rate of 13.99% p.a., which is comparable to other low rate offerings from the Big Four banks. If you apply after December 10, interest on purchases will vary to from 10.99% p.a. up to 15.99% p.a. which is still relatively low.

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 nab up to $100 cashback each month for your first four months when you spend $500 or more on your card.

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.

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Last updated 15 December 2024 Important disclosures

Commonwealth Bank credit cards

  • Low Fee Credit Card

    Purchase rate
    20.99 % p.a.
    Balance transfer rate
    No current offer
    Annual fee
    $36
    $0 when you spend over $300 per month
    Rewards program
    -
    No Partner link

  • Awards Credit Card

    Purchase rate
    20.99 % p.a.
    Balance transfer rate
    No current offer
    Annual fee
    $96
    Rewards program
    Commonwealth Awards
    No Partner link

  • Low Rate Credit Card

    Purchase rate
    15.99 % p.a.
    Balance transfer rate
    No current offer
    Annual fee
    $72
    Rewards program
    -
    No Partner link

  • Ultimate Awards Credit Card

    Purchase rate
    20.99 % p.a.
    Balance transfer rate
    No current offer
    Annual fee
    $420
    $0 monthly fee if you spend $4,000 per month and select online statements
    Rewards program
    Commonwealth Awards
    No Partner link

  • Neo

    • $25/month - $3
    • 000 Credit Limit
    Purchase rate
    0.00 % p.a.
    Balance transfer rate
    No current offer
    Annual fee
    $300
    $25/month - waived if no spend & no balance owing
    Rewards program
    -
    No Partner link

  • Neo

    • $20/month - $2
    • 000 Credit Limit
    Purchase rate
    0.00 % p.a.
    Balance transfer rate
    No current offer
    Annual fee
    $240
    $20/month - waived if no spend & no balance owing
    Rewards program
    -
    No Partner link

  • Neo

    • $15/month - $1
    • 000 Credit Limit
    Purchase rate
    0.00 % p.a.
    Balance transfer rate
    No current offer
    Annual fee
    $180
    $15/month - waived if no spend & no balance owing
    Rewards program
    -
    No Partner link

  • Smart Awards Credit Card

    • Commbank Awards Program
    Purchase rate
    20.99 % p.a.
    Balance transfer rate
    No current offer
    Annual fee
    $228
    $0 monthly fee if you spend $2,000 per month
    Rewards program
    CommBank Awards
    No Partner link

  • Smart Awards Credit Card

    • Qantas Points
    Purchase rate
    20.99 % p.a.
    Balance transfer rate
    No current offer
    Annual fee
    $288
    $0 monthly fee if you spend $2,000 per month
    Rewards program
    Qantas Frequent Flyer
    No Partner link

Get the latest news and product updates.

Commonwealth Bank credit card ratings

Overall customer rating for Commonwealth Bank credit cards

3.5
Based on 8,575 product reviews.

Customer reviews

Important disclosures

Commonwealth Bank products

Commonwealth Bank credit cards: FAQs

How do I apply for a Commonwealth Bank credit card?

You can apply for a Commonwealth Bank credit card online or by visiting a branch.

To apply, you must:

  • Be at least 18 years old
  • Legally have the right to work in Australia
  • Not be currently bankrupt

You may need to provide:

  • Personal details
  • Photo ID
  • Proof of income
What is the credit limit for a Commonwealth Bank credit card?

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:

  • CommBank Neo – $1,000, $2,000 or $3,000
  • Low Rate – $500
  • Low Fee – $500
  • Awards – $500
  • Smart Awards – $3,000
  • Ultimate Awards – $6,000
How long does it take to get approved for a Commonwealth Bank credit card?

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.

Do Commonwealth Bank credit cards come with travel insurance?

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:

  • Spend at least $500 in one transaction towards your prepaid travel costs, using your eligible credit card
  • Activate your travel insurance​
How do I cancel a Commonwealth Bank credit card?

You can cancel a Commonwealth Bank credit card by:

  • Visiting a branch
  • Using the CommBank app
  • Logging into CommBank internet banking (NetBank)
  • Calling 13 22 21

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.

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