Commonwealth Bank Low Fee Credit Card

19.74% p.a.

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

$29 $0 when you spend over $1,000 p.a, $0 in the first year

n/a

Commonwealth Bank Low Fee Credit Card

19.74% p.a.

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

$29 $0 when you spend over $1,000 p.a, $0 in the first year

n/a

Mozo Review   Commonwealth Bank Low Fee Credit Card Review

Last updated: 26 September 2019.

What's hot:
  • $0 annual fee for first year (and every year you spend over $1,000)

  • Up to 55 days interest free

What's not:
  • 19.74% purchase rate

Mozo snapshot:

If you're after a credit card for your everyday spending that's low on fees, 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 up to 55 interest free days, fraud protection and worldwide access via the Mastercard network.

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 just that, otherwise you'll be stung with the relatively high purchase rate of 19.74%. 

If you have existing credit card debt that you want to transfer over to the Low Rate Credit Card you will get a 5.99% balance transfer rate for five months, though 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. 

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 card blocking feature means that you can block set transactions such as overseas or even online purchases when you are not travelling or shopping online. You can unblock them at any time via NetBank or the CommBank App. You can also 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 so you can avoid big budget blowouts or spontaneous shopping expeditions. Finally, making payments is also a breeze, as from January 1 2019, Apple Pay will also be available for use.
Who it's good for:

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.

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% p.a. interest rate.

Details

Rates and fees information correct as at 13 November 2019 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
  • 19.74% p.a.

  • none

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

  • yes

  • 21.24% p.a.

  • 55

Fees
  • $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

Features
  • $25.00

  • 2.0

  • 1

  • none

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 Low Fee Credit Card

  • Overall
    3/10
    Just ok.

    Ok, but not cheap.

    Ok, but not cheap.

    Price
    2/10
    Features
    5/10
    Customer service
    5/10
    Convenience
    5/10
    Trust
    5/10

    Abdulsalam | New South Wales

    reviewed 5 days ago

  • Overall
    7/10
    As long as you spend enough this card is very good

    Very reliable. I'd prefer the annual fee to be lower but as long as you spend enough it gets waived.

    Very reliable. I'd prefer the annual fee to be lower but as long as you spend enough it gets waived.

    Price
    9/10
    Features
    2/10
    Customer service
    8/10
    Convenience
    10/10
    Trust
    10/10

    Greg | Queensland

    reviewed 8 days ago

  • Overall
    5/10
    Ok, but rewards take a long time to build up.

    Rewards are ok but you need to spend a lot to get anything decent.

    Rewards are ok but you need to spend a lot to get anything decent.

    Price
    7/10
    Features
    4/10
    Customer service
    8/10
    Convenience
    4/10
    Trust
    7/10

    James | Victoria

    reviewed 13 days ago

  • Overall
    8/10
    Low interest rate.

    It's a small branch where they know you. The service is good and the fees are low, plus there are...

    It's a small branch where they know you. The service is good and the fees are low, plus there are no hidden fees. I've been with Commonwealth Bank for over 20 years. So far I'm happy with their overall service and have had no problems.

    Price
    7/10
    Features
    8/10
    Customer service
    5/10
    Convenience
    8/10
    Trust
    4/10

    Margaret | Queensland

    reviewed 13 days ago

  • Overall
    9/10
    Excellent.

    Good card for me.

    Good card for me.

    Price
    10/10
    Features
    9/10
    Customer service
    6/10
    Convenience
    8/10
    Trust
    9/10

    Sonya | Western Australia

    reviewed 14 days 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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