Commonwealth Bank Low Fee Gold Credit Card

19.74% p.a.

5.99% p.a. for 5 months and then 21.24% p.a.

$89 $0 when you spend over $10,000 p.a, $0 in the first year

Commonwealth Bank Low Fee Gold Credit Card Review

Rates and fees information correct as at 22 July 2018.

Review published: 18 April 2013

What's hot:

  • No annual fee in the first year

  • Complimentary travel, extended warranty and purchase security insurance

  • Up to 55 days interest free

What's not:

  • 21.24% p.a. cash advance rate

Mozo snapshot:

The Low Fee Gold card is a great credit card for everyday spending with perks such as complimentary travel insurance and no annual fee in the first year (usually $89).

Key features:

Commonwealth Bank has made the Low Fee Gold card accessible and travel-compatible - you can use it anywhere in the world where MasterCard is accepted, and feel safe in the knowledge that your purchases are covered by top-notch fraud protection. The card also comes with complimentary travel insurance - travel has never looked so appealing! Just remember to activate your insurance via NetBank before you leave Australian shores or you'll only be covered for the base level insurance which only includes cover for emergency medical and hospital. By activating the insurance you'll get more comprehensive cover, including cover for your spouse and dependents travelling with you. Just read the PDS as there are some of the usual exclusions and cover limits.

The $89 annual fee is waived for the first year as well as in subsequent years when you make at least $10,000 of purchases. The Low Fee Gold card has a purchase rate of 19.74% p.a. so be sure to pay off your balance each month in order to get 55 interest free days and dodge the effects of a high ongoing balance. Similarly, steer clear of cash advances - the rate sits at a high 21.24% p.a.. If you have debt that you want to transfer over from another credit card, you'll get a low 5.99% for five months, but if you haven't paid the balance off by the end of that period, you'll get hit with that 21.24% again, so be sure to keep an eye on your balance.

In addition to the free travel insurance the Low Fee Gold card comes with extended warranty insurance, where you'll get an extra year on top of the manufacturers Australian warranty and purchase security insurance, which means if an item is damaged, lost or stolen within 90 days of purchase CommBank will get it repaired or replaced.

The card has a lock, block and limit feature which gives you added security and flexibility. You can place a block on overseas instore and/or online purchases and on ATM cash withdrawals. The limit feature enables you to limit the single transaction purchase amount to avoid overspending. You can even temporarily lock the card if you misplace it. All of the features can be managed via NetBank or the CommBank App so you can turn them on or off when required.

If the Low Fee Gold card sounds like it's up you alley, applying is easy. You're guaranteed to get a response to your application within 60 seconds if you apply online.

Who it's good for:

The Low Fee Gold card is great for travellers who are looking for perks, low fees and convenience. But if you're not the best at organising your repayments, think twice before signing up, as there is a $20 late payment fee.

Any catches?

If you do decide to take up the balance transfer offer, make sure you pay off your debt within the five month period so you don't get hit with that high cash advance revert 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 Gold Credit Card

Commonwealth Bank

Commonwealth Bank Low Fee Gold Credit Card credit card review

Overall rating   8 / 10

Good people skills

Have banked with the CBA for over 45 years when it was still the State bank of Victoria which was later amalgamated into the CBA. They like all commercial organisations have leaders that are sometimes cowboys like Ian Nariev but are soon weeded...

Full review

Have banked with the CBA for over 45 years when it was still the State bank of Victoria which was later amalgamated into the CBA. They like all commercial organisations have leaders that are sometimes cowboys like Ian Nariev but are soon weeded out and stability and fairness return. Remember this is Australia & not the TRUMP USA. Our moto of a "Fair go for all still prevails " Thanks.

    Price   8 / 10

    Features   8 / 10

    Customer service   9 / 10

    Convenience   8 / 10

    Trust   8 / 10

Less

Augustus (VIC), reviewed 7 months ago

Commonwealth Bank

Commonwealth Bank Low Fee Gold Credit Card credit card review

Overall rating   7 / 10

Bank service is not helpful

Credit card is good but service is not so good

Full review

Credit card is good but service is not so good

    Price   8 / 10

    Features   8 / 10

    Customer service   5 / 10

    Convenience   8 / 10

    Trust   6 / 10

Less

Brenda (TAS), reviewed 7 months ago

Commonwealth Bank

Commonwealth Bank Low Fee Gold Credit Card credit card review

Overall rating   7 / 10

Great insurance with credit card

Love travel insurance

Full review

Love travel insurance

    Price   6 / 10

    Features   9 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   7 / 10

Less

Kim (QLD), reviewed almost 2 years ago

Commonwealth Bank

Commonwealth Bank Low Fee Gold Credit Card credit card review

Overall rating   7 / 10

Customer service is second to none

Security is very good

Full review

Security is very good

    Price   6 / 10

    Features   -1 / 10

    Customer service   7 / 10

    Convenience   7 / 10

    Trust   8 / 10

Less

Alan (VIC), reviewed over 2 years ago

Commonwealth Bank

Commonwealth Bank Low Fee Gold Credit Card credit card review

Overall rating   2 / 10

Not happy Jan !!!

No rewards. Interest too high. They make too much profit. Sorry!!!

Full review

No rewards. Interest too high. They make too much profit. Sorry!!!

    Price   2 / 10

    Features   3 / 10

    Customer service   2 / 10

    Convenience   2 / 10

    Trust   1 / 10

Less

Jay (WA), reviewed over 2 years ago

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

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

  • $89.00

  • $0 in the first 1 year

  • 10000

  • 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.

**Saving based on the average difference in fees and charges over 3 years between the most competitive product Mozo can refer a consumer to and the average credit card product input by 6,863 consumers (average balance of $4,262 or balance transfer balance of $5,818, interest rate of 19.6% and annual fee of $36.50) who used the Mozo Credit Card Health Check tool between 1 January 2012 to July 2012.

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