Low Fee Credit Card card image

Commonwealth Bank Low Fee Credit Card

Advertiser disclosure
Purchase rate
19.74% p.a.
Balance transfer rate
No current offer
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: 26 February 2021.

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
  • $150 cashback offer (conditions apply)
What's not
  • 19.74% 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 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 a number of useful features including a 55-day interest free period, fraud protection and worldwide access via the Mastercard network.

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

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 3.00% 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. 

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.

Finally, there's even a limited time cashback deal on offer! New cardholders who apply by 30 June and spend $1,000 on purchases by 30 September will receive $150 cashback.
snapshot
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. 

question icon
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% purchase rate.

Details

Rates and fees information correct as at 7 March 2021 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

  • No current offer

  • yes

  • 21.24% p.a.

  • 55

Fees
  • $29.00

  • $0 in the first year

  • $1,000.00

  • 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

Other benefits

Get $150 cashback. Apply by 30 June 2021 and spend $1,000 on purchases by 30 September 2021.

Customer Reviews

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

Overall
6.9/10
Price
5.8/10
Features
6.1/10
Customer service
7.0/10
Convenience
7.9/10
Trust
7.2/10

Latest reviews of Commonwealth Bank Low Fee Credit Card

Thumbnail icon for 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

Thumbnail icon for Bendigo Bank

Bendigo Bank

Low Rate Credit Card

11.99% p.a.

0% p.a. for 18 months and then 11.99% p.a. (2.00% balance transfer fee)

$45

Thumbnail icon for Bankwest

Bankwest

Zero Mastercard

17.99% p.a.

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

$0

Thumbnail icon for Westpac

Westpac

Low Rate

13.74% p.a.

0% p.a. for 24 months and then 21.49% p.a. (1.00% balance transfer fee)

$59

Thumbnail icon for ME

ME

frank Credit Card

11.99% p.a.

No current offer

$0

Thumbnail icon for NAB

NAB

Qantas Rewards Signature Card

19.99% p.a.

0% p.a. for 6 months and then 21.74% p.a. (2.00% balance transfer fee)

$395 $295 in the first year

Qantas Frequent Flyer

Thumbnail icon for Bankwest

Bankwest

Breeze Mastercard

10.99% p.a.

0% p.a. for 26 months and then 10.99% p.a. (2.00% balance transfer fee)

$49 $0 in the first year

Thumbnail icon for Citi

Citi

Simplicity Credit Card

0% p.a. for 6 months then 21.49% p.a.

0% p.a. for 6 months and then 22.24% p.a.

$0

Thumbnail icon for Defence Bank

Defence Bank

Foundation Credit Card

3.99% p.a. for 6 months then 8.99% p.a.

3.99% p.a. for 6 months and then 8.99% p.a.

$45

Thumbnail icon for American Express

American Express

Qantas Ultimate Card

Qantas Frequent Flyer

$450

100,000

1.25 points uncapped

Thumbnail icon for NAB

NAB

Qantas Rewards Signature Card

Qantas Frequent Flyer

$395 $295 in the first year

110,000

1 point up to $5,000/month, then
0.5 points up to $20,000/month

Thumbnail icon for American Express

American Express

Qantas Discovery Card

Qantas Frequent Flyer

$0

No current offer

0.75 points uncapped

Thumbnail icon for 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

Thumbnail icon for American Express

American Express

Velocity Escape Card

Velocity Frequent Flyer

$0

No current offer

0.75 points uncapped

Thumbnail icon for Bankwest

Bankwest

Qantas Platinum Mastercard

Qantas Frequent Flyer

$160

30,000

0.75 points up to $2,500/month, then
0.3 points uncapped

Thumbnail icon for NAB

NAB

Rewards Platinum Card

NAB Rewards

$195

60,000

1 point uncapped

Thumbnail icon for Westpac

Westpac

Altitude Platinum

Qantas Frequent Flyer

$200 $99 in the first year

60,000

0.5 points uncapped

Thumbnail icon for Bendigo Bank

Bendigo Bank

Low Rate Credit Card

0% p.a. for 18 months and then 11.99% p.a. (2.00% balance transfer fee)

11.99% p.a.

$45

Thumbnail icon for Bankwest

Bankwest

Breeze Mastercard

0% p.a. for 26 months and then 10.99% p.a. (2.00% balance transfer fee)

10.99% p.a.

$49 $0 in the first year

Thumbnail icon for Westpac

Westpac

Low Rate

0% p.a. for 24 months and then 21.49% p.a. (1.00% balance transfer fee)

13.74% p.a.

$59

Thumbnail icon for Citi

Citi

Rewards Credit Card

0% p.a. for 30 months and then 22.24% p.a.

21.49% p.a.

$149 $49 in the first year

Citi Rewards Program

Thumbnail icon for NAB

NAB

Low Rate Card

0% p.a. for 20 months and then 21.74% p.a. (2.00% balance transfer fee)

12.99% p.a.

$59

Thumbnail icon for Bendigo Bank

Bendigo Bank

Low Rate Credit Card

11.99% p.a.

0% p.a. for 18 months and then 11.99% p.a. (2.00% balance transfer fee)

$45

Thumbnail icon for Defence Bank

Defence Bank

Foundation Credit Card

3.99% p.a. for 6 months then 8.99% p.a.

3.99% p.a. for 6 months and then 8.99% p.a.

$45

Thumbnail icon for ME

ME

frank Credit Card

11.99% p.a.

No current offer

$0

Thumbnail icon for NAB

NAB

StraightUp Card

0% p.a.

No current offer

$120 $10/month - waived if no spend & no balance owing

Thumbnail icon for Westpac

Westpac

Low Rate

13.74% p.a.

0% p.a. for 24 months and then 21.49% p.a. (1.00% balance transfer fee)

$59

Thumbnail icon for NAB

NAB

Low Rate Card

12.99% p.a.

0% p.a. for 20 months and then 21.74% p.a. (2.00% balance transfer fee)

$59

Thumbnail icon for Bendigo Bank

Bendigo Bank

Low Rate Credit Card

11.99% p.a.

0% p.a. for 18 months and then 11.99% p.a. (2.00% balance transfer fee)

$45

Thumbnail icon for Bankwest

Bankwest

Zero Mastercard

17.99% p.a.

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

$0

Thumbnail icon for Westpac

Westpac

Low Rate

13.74% p.a.

0% p.a. for 24 months and then 21.49% p.a. (1.00% balance transfer fee)

$59

Thumbnail icon for ME

ME

frank Credit Card

11.99% p.a.

No current offer

$0

Thumbnail icon for Bankwest

Bankwest

Breeze Mastercard

10.99% p.a.

0% p.a. for 26 months and then 10.99% p.a. (2.00% balance transfer fee)

$49 $0 in the first year

Thumbnail icon for Citi

Citi

Simplicity Credit Card

0% p.a. for 6 months then 21.49% p.a.

0% p.a. for 6 months and then 22.24% p.a.

$0

Thumbnail icon for Defence Bank

Defence Bank

Foundation Credit Card

3.99% p.a. for 6 months then 8.99% p.a.

3.99% p.a. for 6 months and then 8.99% p.a.

$45

Thumbnail icon for NAB

NAB

StraightUp Card

0% p.a.

No current offer

$120 $10/month - waived if no spend & no balance owing