Commonwealth Bank Low Fee Credit Card

19.74%

5.99% for 5 months and then 21.24%

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

Commonwealth Bank Low Fee Credit Card Review

Review updated: 7 December 2015

Review published: 15 April 2013

What's hot:

  • Annual fee waived every year you spend at least $1,000 p.a

  • Lock, block and limit feature

  • 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 Commonwealth Bank Low Fee Credit Card could be the answer. The annual fee is waived in the first year (usually $29) and each year you spend at least $1000 on the card the previous year. It 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:

You can use the Commonweath Bank Low Fee Card anywhere in the world where MasterCard is accepted - that's over 32 million locations around the world in case you're wondering. If you are a frequent traveller or overseas online shopper there is a 3% international transaction fee you'll need to budget for. The purchase rate is 19.74% p.a. so this is not a card that you'll want to have a high ongoing balance on. Pay off your card in full each month and you'll get to enjoy up to 55 interest free days.

If you have debt that you want to transfer over from another credit card you will get a 5.99% balance transfer rate for 5 months. Just be sure to knock down that debt in the low interest period as any remaining balance will get rolled over to the high 21.24% p.a. cash advance rate.

As a Low Fee cardholder you will get access to the MasterCard Priceless service which gives you access to 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 instore purchases 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.

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.

How are Commonwealth Bank credit cards rated by the Mozo community?

Product Type Overall Rating Price Features Service Convenience Trust
7.3

Based on 2848
Commonwealth Bank credit cards reviews

6.2 6.4 7.5 8.0 7.5

Read Commonwealth Bank credit card reviews by the Mozo community

Latest reviews of Commonwealth Bank Low Fee Credit Card

Commonwealth Bank

Commonwealth Bank Low Fee Credit Card credit card review

Overall rating   8 / 10

Great customer service and internet transactions

CBA offers reliable and secure banking. Their customer service is well trained and courteous. They could maybe review some of their fees.
Full review

CBA offers reliable and secure banking. Their customer service is well trained and courteous. They could maybe review some of their fees.

    Price   6 / 10

    Features   6 / 10

    Customer service   7 / 10

    Convenience   8 / 10

    Trust   8 / 10

Less

Corinne (VIC), reviewed about 2 months ago

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Commonwealth Bank

Commonwealth Bank Low Fee Credit Card credit card review

Overall rating   8 / 10

Great service and competitive rates.

Great service and competitive rates.
Full review

Great service and competitive rates.

    Price   8 / 10

    Features   7 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   9 / 10

Less

Peter (VIC), reviewed about 2 months ago

Was this review helpful? Yes

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Commonwealth Bank

Commonwealth Bank Low Fee Credit Card credit card review

Overall rating   8 / 10

Great customer service with great premiums

It's easy and simple with no surprise fees.
Full review

It's easy and simple with no surprise fees.

    Price   5 / 10

    Features   8 / 10

    Customer service   10 / 10

    Convenience   7 / 10

    Trust   10 / 10

Less

Anthony (QLD), reviewed about 2 months ago

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Commonwealth Bank

Commonwealth Bank Low Fee Credit Card credit card review

Overall rating   10 / 10

Will never change banks, CBA is an amazing bank.

Easy way to make repayments, convenient, easy and excellent services.
Full review

Easy way to make repayments, convenient, easy and excellent services.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Ali (NSW), reviewed about 2 months ago

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Commonwealth Bank

Commonwealth Bank Low Fee Credit Card credit card review

Overall rating   6 / 10

Charge like wounded bulls

They have lots of fees.
Full review

They have lots of fees.

    Price   4 / 10

    Features   3 / 10

    Customer service   7 / 10

    Convenience   5 / 10

    Trust   8 / 10

Less

Lewis (VIC), reviewed about 2 months ago

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Rates

  • 19.74%

  • none

  • 5.99% for 5 months and then 21.24%

  • yes

  • 21.24%

  • 55

Fees

  • $29.00

  • $0 in the first 1 year

  • 1000

  • none

  • $20.00

  • 2%, Min $2.50, Max $150

  • 3.00%

  • $0.00

  • $0.00

  • $0.00

Other financial bits

  • $25.00

  • 2.0

Features

  • 1

  • none

  • none

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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