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 monthly fee of $3 is waived if you spend at least $300 in your statement period. It also has 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).
The Commonwealth Bank Low Fee Credit Card really lives up to its name, with a $0 monthly fee if you spend at least $300 in your statement period. If you don't hit that minimum, you'll need to pay the $3 monthly 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 20.99%. If you’re eligible for a cash advance, the interest rate is 21.99% and the fees you’ll pay are $4.00 or 3.00% of the transaction amount - whichever is greater.
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 3.50% international transaction fee to budget for though - whichever is higher. 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. 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.
This card also comes with complimentary Purchase Security and Extended Warranty Insurance provided by Cover-More (T&Cs apply).
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.
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 20.99% purchase rate.
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20.99% p.a. |
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|
none |
|
|
No current offer |
|
|
none |
|
|
21.99% p.a. |
|
|
55 |
|
$36.00 |
|
|
none |
|
|
$3,600.00 |
|
|
none |
|
|
$20.00 |
|
|
3%, min $4.00, max $300 |
|
|
3.50% |
|
|
$0.00 |
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|
$0.00 |
|
|
$0.00 |
|
$25.00 |
|
|
2.0 |
|
|
1 |
|
|
none |
Apple Pay, Google Wallet, Samsung Pay, Garmin, Fitbit
Extended Warranty,
Purchase Protection
Receive up to $200 cashback, $50 each month for new customers when you spend $500 or more on purchases per month for the first 4 months. CommBank Yello tier customers receive up to $240 cashback, $60 per month, with a $500 monthly spend in the first 4 months.
I love commonwealth, easy to navigate it tells you when there planning to go under mantience
Read full reviewI love commonwealth, easy to navigate it tells you when there planning to go under mantience
Being one of the largest banks in Australia, it has always been very easy to contact them in different ways to deal with issues and concerns - in Australia and when overseas. However, if you don't have a significant portfolio you are unlikely to gain genuine benefits.
Read full reviewBeing one of the largest banks in Australia, it has always been very easy to contact them in different ways to deal with issues and concerns - in Australia and when overseas. However, if you don't have a significant portfolio you are unlikely to gain genuine benefits.
Great rates and worthwhile rewards
Read full reviewGreat rates and worthwhile rewards
I like that CommBank won best employer in Australia on LinkedIn last year. The fact that they treat their staff well suggests they are in a better position to help their customers. I do think the app is fairly intuitive and like how it analyses your different spending breakdowns each month. My credit card also offers free international transactions and comes with travel insurance too, which I thought were pretty significant features for a card that charges you zero fees after reaching a certain spend level.
Read full reviewI like that CommBank won best employer in Australia on LinkedIn last year. The fact that they treat their staff well suggests they are in a better position to help their customers. I do think the app is fairly intuitive and like how it analyses your different spending breakdowns each month. My credit card also offers free international transactions and comes with travel insurance too, which I thought were pretty significant features for a card that charges you zero fees after reaching a certain spend level.
Commonwealth bank is the same as any other bank no better no worse. I dont expect much its just buisness
Read full reviewCommonwealth bank is the same as any other bank no better no worse. I dont expect much its just buisness
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1.25 points up to 100,000 points/year, then
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$299
50,000
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70,000
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Qantas Premium Card
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$249
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Rewards Signature Card
NAB Rewards
$295 $145 in the first year
160,000
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Qantas Discovery Card
Qantas Frequent Flyer
$0
No current offer
0.75 points uncapped
Velocity Escape Card
Velocity Frequent Flyer
$0
No current offer
0.75 points uncapped
Qantas Rewards Signature Card
Qantas Frequent Flyer
$395 $295 in the first year
120,000
1 point up to $5,000/month, then
0.5 points up to $20,000/month
Low Rate Card
0% p.a. for 28 months and then 21.74% p.a. (2.00% balance transfer fee)
13.49% p.a.
$59 $0 in the first year
Premier Credit Card
0% p.a. for 6 months and then 22.24% p.a.
21.49% p.a.
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Citi Rewards Program
Blue Visa Credit Card
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0% p.a. for 9 months then 20.74% p.a.
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20.74% p.a.
$149 $0 in the first year
Velocity Frequent Flyer
More Mastercard
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$100
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13.49% p.a.
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9.90% p.a.
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13.49% p.a.
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12.99% p.a.
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$99
Low Rate Visa Credit Card
9.90% p.a.
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8.99% p.a.
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