Thumbnail icon for Commonwealth Bank

Commonwealth Bank Essentials Card

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
55

Mozo editorial review Commonwealth Bank Essentials Card

Last updated: 17 October 2019.

binocular icon
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.

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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.

Details

Rates and fees information correct as at 3 August 2020 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

Latest reviews of Commonwealth Bank Essentials Card

  • Overall 5/10
    Happy

    Moderately happy. They could be improved.

    Read full review

    Moderately happy. They could be improved.

    Price
    4/10
    Features
    4/10
    Customer service
    8/10
    Convenience
    6/10
    Trust
    6/10
    Less
    Veronija, New South Wales reviewed about 2 months ago
  • Overall 0/10
    Disappointing customer service.

    CBA have failed me, not provided any incentive to stay with them, and have rewarded my long term loyalty with zero, this is without exaggeration. My experience has been nothing but disappointing.

    Read full review

    CBA have failed me, not provided any incentive to stay with them, and have rewarded my long term loyalty with zero, this is without exaggeration. My experience has been nothing but disappointing.

    Price
    1/10
    Features
    0/10
    Customer service
    0/10
    Convenience
    2/10
    Trust
    0/10
    Less
    Tim, New South Wales reviewed 4 months ago
  • Overall 8/10
    Just an essential item.

    Nice and easy. No frills. No benefits.

    Read full review

    Nice and easy. No frills. No benefits.

    Price
    7/10
    Features
    0/10
    Customer service
    8/10
    Convenience
    9/10
    Trust
    10/10
    Less
    Debra, South Australia reviewed 9 months ago
  • Overall 10/10
    Great service.

    Amazing!

    Read full review

    Amazing!

    Price
    8/10
    Features
    5/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Kirah, Queensland reviewed 9 months ago
  • Overall 7/10
    I’m satisfied.

    I’m quite happy with the Commonwealth. Although I would like no interest balance transfer cards.

    Read full review

    I’m quite happy with the Commonwealth. Although I would like no interest balance transfer cards.

    Price
    -1/10
    Features
    -1/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Catherine, New South Wales reviewed 9 months ago
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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