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

Rates and fees information correct as at 30 May 2016.

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   6 / 10

Great features but very high interest rate.

The customer service is great, and the online banking system is excellent and very convenient, however the interest rate is just too high.
Full review

The customer service is great, and the online banking system is excellent and very convenient, however the interest rate is just too high.

    Price   5 / 10

    Features   7 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   9 / 10

Less

Rosie (VIC), reviewed about 2 months ago

Commonwealth Bank

Commonwealth Bank Low Fee Credit Card credit card review

Overall rating   9 / 10

Great customer service and great rates

I needed to review my credit card debt. Commonwealth bank helped me with advice and clear direction to obtain my low interest credit card and reduce debt.
Full review

I needed to review my credit card debt. Commonwealth bank helped me with advice and clear direction to obtain my low interest credit card and reduce debt.

    Price   8 / 10

    Features   8 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Helen (VIC), reviewed about 2 months ago

Commonwealth Bank

Commonwealth Bank Low Fee Credit Card credit card review

Overall rating   7 / 10

Consistent and reliable

Commonwealth Bank is a pretty safe bet for a bank. Due to being one of the largest there is always a branch close by and will always be competitive with the other big banks.
Full review

Commonwealth Bank is a pretty safe bet for a bank. Due to being one of the largest there is always a branch close by and will always be competitive with the other big banks.

    Price   6 / 10

    Features   5 / 10

    Customer service   7 / 10

    Convenience   9 / 10

    Trust   10 / 10

Less

Thomas (VIC), reviewed about 2 months ago

Commonwealth Bank

Commonwealth Bank Low Fee Credit Card credit card review

Overall rating   2 / 10

What service

When we had a few dollars they couldn't do enough then we got put on an interest only mortgage and money just disappeared,no one from the bank tried to help we had to get it change,with that came the credit card change which we paid on a regular...
Full review

When we had a few dollars they couldn't do enough then we got put on an interest only mortgage and money just disappeared,no one from the bank tried to help we had to get it change,with that came the credit card change which we paid on a regular basis funny the bank charges no matter if you pay on any other date but theirs which they change also now the minute you struggle they ring day and night.we have asked to consolidate but they some how devalued our property and rejected our loan because they said we had used our over draft which was their idea!big cons an white collar crime! We are not the only ones the minute you try to change they black list you,

    Price   2 / 10

    Features   2 / 10

    Customer service   2 / 10

    Convenience   0 / 10

    Trust   4 / 10

Less

Bronwyn (QLD), reviewed about 2 months ago

Commonwealth Bank

Commonwealth Bank Low Fee Credit Card credit card review

Overall rating   7 / 10

One of the better ones

Was one of the best ones I could find but just isn't all the reliable
Full review

Was one of the best ones I could find but just isn't all the reliable

    Price   8 / 10

    Features   6 / 10

    Customer service   6 / 10

    Convenience   8 / 10

    Trust   5 / 10

Less

Kayla (SA), reviewed about 2 months ago

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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