If you're after a credit card for your everyday spending without fees that may 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 has all the features that you want in a credit card, like a maximum 55-day interest free period, fraud protection and worldwide access via the Mastercard network.
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 just that, otherwise you'll be stung with the relatively high purchase rate of 19.74%.
If you have existing credit card debt you want to transfer over to the Low Rate Credit Card, you'll get a 5.99% balance transfer rate for five months. But be sure to knock down that debt in the low interest period as the remaining balance will get rolled over to the high 21.24% cash advance rate.
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% 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.
The Low Fee credit card is good for those that want the convenience of a credit card but don't want to pay for extras like concierge services or rewards points.
The Low Fee 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 19.74% p.a. interest rate.
19.74% p.a.
none
5.99% p.a. for 5 months and then 21.24% p.a.
yes
21.24% p.a.
55
$29.00
$0 in the first 1 year
1000
none
$20.00
3%, Min $3.00, Max $300
3.00%
$0.00
$0.00
$0.00
$25.00
2.0
1
none
Apple Pay, Google Pay, Samsung Pay, Garmin, Fitbit
I've been a long time credit card customer of Commonwealth Bank. Over the years the service has been great. Whenever I have had an issue with my card they've been easy to contact and quick to fix the issue whether it's through e-mail/phone or in one of their branches. I also love their user friendly phone application. It's convenient and better than their competitors. Though, one of the things that can be improved is the interest rates for their credit cards.
Read full reviewI've been a long time credit card customer of Commonwealth Bank. Over the years the service has been great. Whenever I have had an issue with my card they've been easy to contact and quick to fix the issue whether it's through e-mail/phone or in one of their branches. I also love their user friendly phone application. It's convenient and better than their competitors. Though, one of the things that can be improved is the interest rates for their credit cards.
Thank you, great product.
Read full reviewThank you, great product.
I have had no problems at all and I am quite happy with their services and customer relations.
Read full reviewI have had no problems at all and I am quite happy with their services and customer relations.
All big 4 banks are the same..
Read full reviewAll big 4 banks are the same..
They are ok overall, but interest needs to be lower considering that they are one of the biggest in country.
Read full reviewThey are ok overall, but interest needs to be lower considering that they are one of the biggest in country.
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.
Promoted
CUA
Low Rate Credit Card
11.99% p.a.
0% p.a. for 13 months and then 21.74% p.a.
$49 $0 in the first year
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CUA
Platinum Credit Card
19.99% p.a.
0% p.a. for 13 months and then 21.74% p.a.
$149 $0 in the first year
Life Rich Rewards
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Qantas Money
Qantas Premier Platinum
19.99% p.a.
0% p.a. for 18 months and then 21.99% p.a.
$299 $199 in the first year
Qantas Frequent Flyer
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Qantas Ultimate Card
20.74% p.a.
No current offer
$450
Qantas Frequent Flyer
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Bankwest
Breeze Mastercard
0% p.a. for 15 months then 12.99% p.a.
2.99% p.a. for 9 months and then 12.99% p.a. (0% balance transfer fee)
$79
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American Express
Qantas Discovery Card
20.74% p.a.
No current offer
$0
Qantas Frequent Flyer
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Bankwest
Zero Mastercard
17.99% p.a.
2.99% p.a. for 9 months and then 17.99% p.a.
$0
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CUA
Platinum Credit Card
Life Rich Rewards
$149 $0 in the first year
No current offer
1 point up to 100,000 points/year
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American Express
Qantas Ultimate Card
Qantas Frequent Flyer
$450
80,000
1.25 points uncapped
Promoted
Qantas Money
Qantas Premier Platinum
Qantas Frequent Flyer
$299 $199 in the first year
80,000
1 point up to $10,000/month, then
0.5 points uncapped
Promoted
American Express
Qantas Discovery Card
Qantas Frequent Flyer
$0
No current offer
0.75 points uncapped
Promoted
NAB
Qantas Rewards Premium Card
Qantas Frequent Flyer
$250
30,000
0.66 points up to $3,000/month, then
0.33 points up to $6,000/month
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Citi
Rewards Credit Card
Citi Rewards Program
$199 $0 in the first year
No current offer
1 point up to $10,000/month
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David Jones
American Express Card
Membership Rewards
$99
15,000
1 point uncapped
Promoted
CUA
Low Rate Credit Card
0% p.a. for 13 months and then 21.74% p.a.
11.99% p.a.
$49 $0 in the first year
Promoted
Westpac
Low Rate
0% p.a. for 20 months and then 21.49% p.a. (1.00% balance transfer fee)
13.74% p.a.
$59
Promoted
Bankwest
Breeze Mastercard
2.99% p.a. for 9 months and then 12.99% p.a. (0% balance transfer fee)
0% p.a. for 15 months then 12.99% p.a.
$79
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St.George
No Annual Fee
0% p.a. for 12 months and then 21.49% p.a. (1.00% balance transfer fee)
20.74% p.a.
$0
Promoted
Qantas Money
Qantas Premier Platinum
0% p.a. for 18 months and then 21.99% p.a.
19.99% p.a.
$299 $199 in the first year
Qantas Frequent Flyer
Promoted
St.George
Vertigo
0% p.a. for 22 months and then 21.49% p.a. (1.50% balance transfer fee)
0% p.a. for 7 months then 13.99% p.a.
$55 $0 in the first year
Promoted
Bankwest
Zero Mastercard
2.99% p.a. for 9 months and then 17.99% p.a.
17.99% p.a.
$0
Promoted
Bank of Melbourne
Vertigo
0% p.a. for 22 months and then 21.49% p.a. (1.50% balance transfer fee)
0% p.a. for 7 months then 13.99% p.a.
$55 $0 in the first year
Promoted
CUA
Low Rate Credit Card
11.99% p.a.
0% p.a. for 13 months and then 21.74% p.a.
$49 $0 in the first year
Promoted
Westpac
Low Rate
13.74% p.a.
0% p.a. for 20 months and then 21.49% p.a. (1.00% balance transfer fee)
$59
Promoted
Bankwest
Breeze Mastercard
0% p.a. for 15 months then 12.99% p.a.
2.99% p.a. for 9 months and then 12.99% p.a. (0% balance transfer fee)
$79
Promoted
St.George
Vertigo Platinum
0% p.a. for 15 months then 12.99% p.a.
No current offer
$99 $49 in the first year
Promoted
St.George
Vertigo
0% p.a. for 7 months then 13.99% p.a.
0% p.a. for 22 months and then 21.49% p.a. (1.50% balance transfer fee)
$55 $0 in the first year
Promoted
Bank of Melbourne
Vertigo
0% p.a. for 7 months then 13.99% p.a.
0% p.a. for 22 months and then 21.49% p.a. (1.50% balance transfer fee)
$55 $0 in the first year
Promoted
NAB
Low Rate Card
0% p.a. for 6 months then 12.99% p.a.
0% p.a. for 6 months and then 21.74% p.a. (2.00% balance transfer fee)
$59
Promoted
CUA
Low Rate Credit Card
11.99% p.a.
0% p.a. for 13 months and then 21.74% p.a.
$49 $0 in the first year
Promoted
Bankwest
Breeze Mastercard
0% p.a. for 15 months then 12.99% p.a.
2.99% p.a. for 9 months and then 12.99% p.a. (0% balance transfer fee)
$79
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Bankwest
Zero Mastercard
17.99% p.a.
2.99% p.a. for 9 months and then 17.99% p.a.
$0
Promoted
NAB
Low Rate Card
0% p.a. for 6 months then 12.99% p.a.
0% p.a. for 6 months and then 21.74% p.a. (2.00% balance transfer fee)
$59
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Westpac
Low Rate
13.74% p.a.
0% p.a. for 20 months and then 21.49% p.a. (1.00% balance transfer fee)
$59
Promoted
St.George
Vertigo Platinum
0% p.a. for 15 months then 12.99% p.a.
No current offer
$99 $49 in the first year
Promoted
St.George
Vertigo
0% p.a. for 7 months then 13.99% p.a.
0% p.a. for 22 months and then 21.49% p.a. (1.50% balance transfer fee)
$55 $0 in the first year