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Commonwealth Bank Low Fee Gold Credit Card

Purchase rate
0% p.a. for 15 months then 19.74% p.a.
Balance transfer rate
5.99% p.a. for 5 months and then 21.24% p.a.
Annual fees
$89 $0 when you spend over $10,000 p.a, $0 in the first year
Interest free days on purchases
55

Mozo editorial review Commonwealth Bank Low Fee Gold Credit Card

Last updated: 1 November 2019.

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What's hot
  • No annual fee in the first year
  • Complimentary travel, extended warranty and purchase security insurance
  • 0% Purchase Rate for the first 15 months
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 no annual fee in the first year (usually $89) and plenty of security features and handy extras. It's also a useful piece of plastic to have on you while travelling, with perks such as complimentary travel insurance and no foreign exchange margin on overseas purchases. Plus, you can score a 0% purcahse rate for the first 15 months of card ownership.

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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 and no foreign exchange margin - 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. Be sure to read the PDS as there are some of the usual exclusions and cover limits.

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.. 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. 

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.


snapshot
Who is it 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.

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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.

Details

Rates and fees information correct as at 26 September 2020 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.

  • 0% p.a. for 15 months

  • 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

  • $10,000.00

  • none

  • $20.00

  • 3%, Min $3.00, Max $300

  • 0%

  • $0.00

  • $0.00

  • $0.00

Features
  • $25.00

  • 2.0

  • 1

  • none

Payment options

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

Rewards privileges

Travel Insurance,
Extended Warranty,
Purchase Protection

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 Gold Credit Card

  • Overall 7/10
    Staff are great, helpful.

    I have found the Commonwealth Bank friendly to deal with and happy to help. Interest rate is average, no higher than anywhere else.

    Read full review

    I have found the Commonwealth Bank friendly to deal with and happy to help. Interest rate is average, no higher than anywhere else.

    Price
    6/10
    Features
    5/10
    Customer service
    5/10
    Convenience
    5/10
    Trust
    7/10
    Less
    Sue, Queensland reviewed 2 months ago
  • Overall 6/10
    Just a bank.

    Do not actually like this bank, but got free travel insurance. They have good online features.

    Read full review

    Do not actually like this bank, but got free travel insurance. They have good online features.

    Price
    5/10
    Features
    8/10
    Customer service
    8/10
    Convenience
    9/10
    Trust
    5/10
    Less
    Helena, Victoria reviewed 4 months ago
  • Overall 8/10
    Great service happy customer would recommend.

    Great service and love the free travel insurance.

    Read full review

    Great service and love the free travel insurance.

    Price
    5/10
    Features
    7/10
    Customer service
    8/10
    Convenience
    9/10
    Trust
    9/10
    Less
    Simon, Western Australia reviewed 7 months ago
  • Overall 7/10
    Great customer service.

    I am happy with CBA. I've been using them for many years and I feel like the support is always there. The online banking tool is also easy to use.

    Read full review

    I am happy with CBA. I've been using them for many years and I feel like the support is always there. The online banking tool is also easy to use.

    Price
    4/10
    Features
    6/10
    Customer service
    8/10
    Convenience
    8/10
    Trust
    8/10
    Less
    Melissa, New South Wales reviewed 10 months ago
  • Overall 10/10
    Good Bank.

    I have been with Commonwealth Bank for over 35+ years and have never felt the need to change.

    Read full review

    I have been with Commonwealth Bank for over 35+ years and have never felt the need to change.

    Price
    8/10
    Features
    7/10
    Customer service
    6/10
    Convenience
    10/10
    Trust
    7/10
    Less
    Sandra, Victoria reviewed 11 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.

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