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Commonwealth Bank Low Fee Credit Card

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
55

Mozo editorial review Commonwealth Bank Low Fee Credit Card

Last updated: 16 April 2020.

binocular icon
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 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.

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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 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. 

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. Finally, making payments is also a breeze, as cardless transactions through Apple Pay, Google Pay and Samsung Pay are also be available on your phone or wearable smart device, alongside buy now pay later provider Klarna and payment app Beem It.
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Who is it 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.

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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% p.a. interest rate.

Details

Rates and fees information correct as at 13 August 2020 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 7/10
    Great customer service, easy banking

    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 review

    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.

    Price
    7/10
    Features
    8/10
    Customer service
    8/10
    Convenience
    8/10
    Trust
    8/10
    Less
    Alison, Western Australia reviewed about 2 months ago
  • Overall 6/10
    Amazing service.

    Thank you, great product.

    Read full review

    Thank you, great product.

    Price
    10/10
    Features
    7/10
    Customer service
    6/10
    Convenience
    7/10
    Trust
    7/10
    Less
    Jaz, Western Australia reviewed about 2 months ago
  • Overall 10/10
    Excellent services and Customer Relations

    I have had no problems at all and I am quite happy with their services and customer relations.

    Read full review

    I have had no problems at all and I am quite happy with their services and customer relations.

    Price
    9/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Alan, New South Wales reviewed about 2 months ago
  • Overall 7/10
    As above

    All big 4 banks are the same..

    Read full review

    All big 4 banks are the same..

    Price
    6/10
    Features
    6/10
    Customer service
    9/10
    Convenience
    10/10
    Trust
    8/10
    Less
    Madeleine, New South Wales reviewed 3 months ago
  • Overall 6/10
    Better ones.

    They are ok overall, but interest needs to be lower considering that they are one of the biggest in country.

    Read full review

    They are ok overall, but interest needs to be lower considering that they are one of the biggest in country.

    Price
    4/10
    Features
    3/10
    Customer service
    6/10
    Convenience
    9/10
    Trust
    8/10
    Less
    Slava, Victoria reviewed 3 months 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.

See Commonwealth Bank credit cards

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CUA

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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ME

ME

frank Credit Card

11.99% p.a.

No current offer

$0

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CUA

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 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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American Express

American Express

Qantas Ultimate Card

20.74% p.a.

No current offer

$450

Qantas Frequent Flyer

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Bankwest

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

American Express

Qantas Discovery Card

20.74% p.a.

No current offer

$0

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Bankwest

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

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

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Qantas Ultimate Card

Qantas Frequent Flyer

$450

80,000

1.25 points uncapped

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Qantas Premier Platinum

Qantas Frequent Flyer

$299 $199 in the first year

80,000

1 point up to $10,000/month, then
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Rewards Platinum Card

NAB Rewards

$195

60,000

1 point uncapped

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Qantas Discovery Card

Qantas Frequent Flyer

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No current offer

0.75 points uncapped

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NAB

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

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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

David Jones

American Express Card

Membership Rewards

$99

15,000

1 point uncapped

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CUA

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

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Westpac

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

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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

St.George

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0% p.a. for 12 months and then 21.49% p.a. (1.00% balance transfer fee)

20.74% p.a.

$0

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Qantas Money

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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

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St.George

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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

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Bankwest

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2.99% p.a. for 9 months and then 17.99% p.a.

17.99% p.a.

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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

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CUA

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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Westpac

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13.74% p.a.

0% p.a. for 20 months and then 21.49% p.a. (1.00% balance transfer fee)

$59

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Bankwest

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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St.George

St.George

Vertigo Platinum

0% p.a. for 15 months then 12.99% p.a.

No current offer

$99 $49 in the first year

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St.George

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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

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ME

ME

frank Credit Card

11.99% p.a.

No current offer

$0

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Bank of Melbourne

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

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NAB

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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CUA

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

ME

ME

frank Credit Card

11.99% p.a.

No current offer

$0

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Bankwest

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

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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NAB

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

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13.74% p.a.

0% p.a. for 20 months and then 21.49% p.a. (1.00% balance transfer fee)

$59

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St.George

St.George

Vertigo Platinum

0% p.a. for 15 months then 12.99% p.a.

No current offer

$99 $49 in the first year

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St.George

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