Low Fee Credit Card card image

Commonwealth Bank Low Fee Credit Card

Advertiser disclosure
Purchase rate
20.99% p.a.
Balance transfer rate
No current offer
Annual fees
$36 $0 when you spend over $300 per month
Interest free days on purchases
55

Mozo editorial review Commonwealth Bank Low Fee Credit Card - last updated: 1 March 2024

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What's hot
  • $0 monthly fee (when you spend over $300 in your statement period)
  • Up to 55 days interest free
  • CommBank Yello customers could receive up to $400 cashback (T&Cs apply)
What's not
  • 20.99% purchase rate
Mozo snapshot

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).

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Key features

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).

Finally, there's even a limited time cashback deal on offer! 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 (T&Cs apply). CommBank Yello tier customers receive up to $240 cashback, $60 per month, with a $500 monthly spend in the first 4 months (T&Cs apply).
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Who is it good for

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. 

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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 20.99% purchase rate.

Details

Rates and fees information correct as at 22 June 2024 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

20.99% p.a.

none

No current offer

none

21.99% p.a.

55

Fees

$36.00

none

$3,600.00

none

$20.00

3%, min $4.00, max $300

3.50%

$0.00

$0.00

$0.00

Features

$25.00

2.0

1

none

Payment options

Apple Pay, Google Wallet, Samsung Pay, Garmin, Fitbit

Rewards privileges

Extended Warranty,
Purchase Protection

Other benefits

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.

Customer Reviews

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

Overall
7.4/10
Price
5.8/10
Features
6.1/10
Customer service
7.0/10
Convenience
7.9/10
Trust
7.2/10
Based on 8550 Commonwealth Bank credit card reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.

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