Essentials Card card image

Commonwealth Bank Essentials Card

Advertiser disclosure
Purchase rate
9.90% p.a.
Balance transfer rate
No current offer
Annual fees
$60 $24 per year if you sign up for AutoPay, an automatic payment program.
Interest free days on purchases

Mozo editorial review Commonwealth Bank Essentials Card - last updated: 17 October 2019

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What's hot
  • 9.90% purchase rate
  • $24 annual fee when you opt for online only statements and sign up to AutoPay ($60 otherwise)
What's not
  • $3,000 maximum credit limit
Mozo snapshot

If you want a credit card to help you make small, ‘essential’ purchases, then the Essentials Card from Commonwealth Bank is certainly worth a look. The Essentials 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.

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Key features

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

To go with the low interest rate, the card also has a $24 annual fee if you choose to receive your statements online (rather than paper) and sign up to AutoPay. Otherwise your annual fee will be $60. Either way, the annual fee is charged monthly to help you smooth out any large impact to 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 - as long as you pay off your balance in full each month. 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 does come with a relatively low $3,000 maximum credit limit.

Who is it good for

This card could be a great option for spenders who find that 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.

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Any catches

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


Rates and fees information correct as at 20 January 2022 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.

9.90% p.a.


No current offer



















$3000 maximum credit limit. No cash advances.

Payment options

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

Other benefits

Receive personalised cashback offers based on your spending history with CommBank Rewards.

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