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Commonwealth Bank Low Fee Credit Card

Advertiser disclosure
Purchase rate
19.74% p.a.
Balance transfer rate
5.99% p.a. for 5 months and then 21.24% p.a.
Annual fees
$29 $0 when you spend over $1,000 p.a, $0 in the first year
Interest free days on purchases

Mozo editorial review Commonwealth Bank Low Fee Credit Card - last updated: 1 June 2022

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What's hot
  • $0 annual fee for first year (and every year you spend over $1,000)
  • Up to 55 days interest free
  • $200 cashback offer (terms and conditions apply)
What's not
  • 19.74% purchase rate
Mozo snapshot

If you're after a credit card for your everyday spending without any fees to catch you unawares, the Low Fee Credit Card from the Commonwealth Bank could be the answer. The annual fee of $29 is waived in the first year and for each subsequent year you spend at least $1,000 on the card. It also a number of useful features including a 55-day interest free period, fraud protection and worldwide access via the Mastercard network, as well as the chance to score $200 cashback (T&Cs apply).

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Key features

The Commonwealth Bank Low Fee Credit Card really lives up to its name, with a $0 annual fee in the first year and then in subsequent years when you makes purchases totalling at least $1,000 a year using the card. If you don't hit that minimum, you'll need to pay the $29 annual fee. 

The card also comes with 55 interest free days, as long as you pay your balance off in full each statement period. And you're going to want to do that, otherwise you'll be stung with the relatively high purchase rate of 19.74%. 

You can use the Commonwealth Bank Low Fee Card anywhere in the world where Mastercard is accepted - that's over 32 million locations in case you're wondering. If you are a frequent traveller or overseas online shopper there is a 3.00% international transaction fee to budget for though. And as a Low Fee cardholder you will get access to the Mastercard Priceless service which offers exclusive dining, entertainment and sporting events in a number of cities around the world including Sydney, Berlin, Hong Kong, Rome, Montreal, Chicago to name a few. 

This card also comes with innovative lock, block and limit features. What are they? The lock feature allows you to temporarily lock the card if you have misplaced it. The it also means that you can lock set transactions such as overseas or even online purchases when you are not travelling or shopping online. You can unlock them at any time via NetBank or the CommBank App. You can use the blocking feature to stop ATM cash withdrawals with the credit card (a highly recommended thing to do) and finally you can also put a limit on purchase amounts or a total (flexible) spending cap so you can avoid big budget blowouts or spontaneous shopping expeditions. 

Cardholders will also be able to make transactions through Apple Pay, Google Pay and Samsung Pay via their phone or wearable smart device, alongside buy now pay later provider Klarna and payment app Beem It.

Finally, there's even a limited time cashback deal on offer! New cardholders who apply by 31 October 2022 and spend $1,000 on purchases within 90 days of card activation will receive $200 cashback.
Who is it good for

The Low Fee credit card could be a good option for those who want the convenience of a credit card but don't want to pay for extras like concierge services or rewards points. The card also has a low minimum credit limit of $500, so it is a good card for anyone who wants to limit their monthly credit spending. 

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Any catches

Be sure to keep a close eye on your repayment date as there is a $20 late payment fee, and try to pay your balance in full every month to avoid the 19.74% purchase rate.


Rates and fees information correct as at 17 August 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.

19.74% p.a.


5.99% p.a. for 5 months and then 21.24% p.a.


21.24% p.a.




$0 in the first year




3%, Min $3.00, Max $300










Payment options

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

Other benefits

$200 cashback when you apply by 31 October 2022 and spend $1,000 on purchases within 90 days of card activation. Receive personalised cashback offers based on your spending history with CommBank Rewards.

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