Commonwealth Bank

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 fee

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

Rewards program

n/a

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 fee

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

Rewards program

n/a

Details

Details

Mozo Review Commonwealth Bank Low Fee Credit Card Review

Last updated: 1 January 2019.

What's hot:

Annual fee waived every year you spend at least $1,000 p.a
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 Commonwealth 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. Finally, making payments is also a breeze, as from January 1 2019, Apple Pay will also be available for use.

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.

Details

Rates

Purchase rate

19.74% p.a.
Intro purchase rate

none
Balance transfer rate

5.99% p.a. for 5 months and then 21.24% p.a.
Balance transfer revert to cash

yes
Cash advance rate

21.24% p.a.
Interest free days

55

Fees

Annual card fee

$29.00
Introductory annual fee

$0 in the first 1 year
Annual fee spend threshold

1000
Reward program fee

none
Late payment fee

$20.00
Cash advance fee

2%, Min $2.50, Max $150
Foreign exchange margin

3.00%
Duplicate statement fee

$0.00
Transaction verification fee

$0.00
Additional card fee

$0.00

Features

Minimum repayment amount

$25.00
Minimum repayment percent

2.0
Additional cardholders

1
Other restrictions

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

Based on 8194 Commonwealth Bank credit card reviews

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

10/10

Always helpful with any questions or deals

I have banked with Commbank for over 45 years and have had no problems with them at all. I have...

Read full review

I have banked with Commbank for over 45 years and have had no problems with them at all. I have been offered other cards and accounts from other banks but Commbank has always come back to me with a better offer.

Price

10/10

Features

10/10

Customer service

10/10

Convenience

10/10

Trust

10/10

Less

Debbie | Victoria

reviewed 3 months ago
Overall

5/10

Very good customer service, very friendly

There was a recent fault in the system but other than that its good.

Read full review

There was a recent fault in the system but other than that its good.

Price

6/10

Features

6/10

Customer service

6/10

Convenience

6/10

Trust

6/10

Less

Jeyden | Victoria

reviewed 4 months ago
Overall

10/10

No hassle checking balances

Low interest rates make it easy to keep up with repayments.

Read full review

Low interest rates make it easy to keep up with repayments.

Price

10/10

Features

10/10

Customer service

9/10

Convenience

10/10

Trust

9/10

Less

Leigh | Victoria

reviewed 5 months ago
Overall

0/10

Not that competitve and poor features

Service is really poor.

Read full review

Service is really poor.

Price

0/10

Features

1/10

Customer service

0/10

Convenience

1/10

Trust

0/10

Less

Sante | Victoria

reviewed 5 months ago
Overall

6/10

Average and generally competitive

CBA is a reliable bank.

Read full review

CBA is a reliable bank.

Price

4/10

Features

5/10

Customer service

-1/10

Convenience

1/10

Trust

6/10

Less

Jan | Queensland

reviewed 5 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

Promoted

American Express

Explorer Credit Card

balance transfer rate

0% p.a. for 12 months and then 20.74% p.a. (1.00% balance transfer fee)

purchase rate

20.74% p.a.

annual fee

$395

Commonwealth Bank Low Fee Credit Card

Mozo Review Commonwealth Bank Low Fee Credit Card Review

What's hot:

What's not:

Mozo snapshot:

Key features:

Who it's good for:

Any catches?

Details

Rates

Fees

Features

Payment options

Customer Reviews

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

Overall customer rating

Latest reviews of Commonwealth Bank Low Fee Credit Card

Always helpful with any questions or deals

Very good customer service, very friendly

No hassle checking balances

Not that competitve and poor features

Average and generally competitive

About Commonwealth Bank