Commonwealth Bank Essentials Card

9.90% p.a.

No current offer

$60 $24 per year if you sign up for AutoPay, an automatic payment program.

n/a

Commonwealth Bank Essentials Card

9.90% p.a.

No current offer

$60 $24 per year if you sign up for AutoPay, an automatic payment program.

n/a

Mozo Review   Commonwealth Bank Essentials Card Review

Last updated: 1 January 2019.

What's hot:
  • 9.90% purchase rate

  • $24 annual fee when you opt for online only statements and sign up to AutoPay ($60 otherwise)

  • Best New Credit Card of the Year 2018

What's not:
  • $3,000 maximum credit limit

Mozo snapshot:

If you want a credit card to help you make small, ‘essential’ purchases, then it’s worth checking out the Commonwealth Bank Essentials Card, because that’s where it excels. The card comes with a couple of excellent features such as a low 9.90% interest rate, 55 interest free days and a $24 annual fee when you sign up to AutoPay and opt for online only statements. All of these features won the Essentials card the title of Best New Credit Card of the Year in Mozo's Experts Choice Awards 2018. 

Key features:

If you’re looking for a credit card for everyday spending that won’t break the bank, one thing you might be after is a low purchase rate. Well, the Commonwealth Bank Essentials Card certainly has that, with only a 9.90% purchase rate attached.

To go with the low interest rate, the card also has a $24 annual fee if you you choose to receive your statements in online form only and sign up to AutoPay. Otherwise your annual fee will be $60. Either way, the annual fee is charged monthly to help you stay in control of your budget.

To help you pay off your balance each month and save on interest the Essentials card also comes with 55 interest free days. You'll also be able to make payments with your smartphone, as Apple Pay is available through the Commonwealth Bank. 

One thing to keep in mind is that the card comes with a relatively low $3,000 maximum credit limit.

Who it's good for:

This card could be a great option for spenders who find they carry a balance on their credit card from month to month, since the low interest rate will limit the damage done to your bank balance. The $3000 maximum credit limit also means the card is aimed at frugal spenders who don’t want to rack up a big bill.

Any catches?

Cash advances are blocked on the I Commonwealth Bank Essentials Card, so it's a good idea to carry an alternative in case you find yourself in need of cash.

Details

Rates and fees information correct as at 26 May 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 9.90% p.a.

  • none

  • No current offer

  • none

  • none

  • 55

Fees
  • $60.00

  • none

  • none

  • none

  • $20.00

  • none

  • 3.00%

  • $0.00

  • $0.00

  • $0.00

Features
  • $25.00

  • 2.0

  • none

  • $3000 maximum credit limit. No cash advances.

Payment options

Apple Pay, Google Pay, Samsung Pay, Garmin, Fitbit

Customer Reviews

How are Commonwealth Bank credit cards rated by the Mozo community?

Overall customer rating
6.9/10
Price
5.8/10
Features
6.1/10
Customer service
7.0/10
Convenience
7.9/10
Trust
7.1/10
Commonwealth Bank

About Commonwealth Bank

The Commonwealth Bank might be one of Australia's oldest and largest banks, but lately it's determined to do things differently. The Commonwealth Bank reckons it's focusing more on customer service and earning your business rather than counting on it. If you like the sound of that, then check out the Commonwealth Bank's wide range of personal banking products, including term deposits, savings accounts, credit cards, home loans and personal loans.

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