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

n/a

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

n/a

Mozo Review   Commonwealth Bank Low Fee Gold Credit Card Review

Last updated: 29 August 2018.

What's hot:
  • No annual fee in the first year

  • Complimentary travel, extended warranty and purchase security insurance

  • $200 cashback when you spend $500 in 90 days

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). Plus, at the moment you can snag $200 cashback, just by spending $500 on your card within 90 days of approval.

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. Plus, spend $500 within 90 days of being approved, and you can score $200 cashback.

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.

Details

Rates and fees information correct as at 25 September 2018.

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

Features
  • $25.00

  • 2.0

  • 1

  • none

Payment options

Google Pay, Samsung Pay, Garmin, Fitbit, PayTag

Rewards privileges

Travel Insurance,
Extended Warranty,
Purchase Protection

Other benefits

$200 cashback when you apply by 28 Oct 2018 and spend $500 within 90 days of card activation.

Customer Reviews

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

Overall customer rating
6.9/10
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 Gold Credit Card

  • Overall
    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...

    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

    Augustus | Victoria

    reviewed 9 months ago

  • Overall
    7/10
    Bank service is not helpful

    Credit card is good but service is not so good

    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

    Brenda | Tasmania

    reviewed 9 months ago

  • Overall
    7/10
    Great insurance with credit card

    Love travel insurance

    Love travel insurance

    Price
    6/10
    Features
    9/10
    Customer service
    8/10
    Convenience
    8/10
    Trust
    7/10

    Kim | Queensland

    reviewed about 2 years ago

  • Overall
    7/10
    Customer service is second to none

    Security is very good

    Security is very good

    Price
    6/10
    Features
    -1/10
    Customer service
    7/10
    Convenience
    7/10
    Trust
    8/10

    Alan | Victoria

    reviewed over 2 years ago

  • Overall
    2/10
    Not happy Jan !!!

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

    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

    Jay | Western Australia

    reviewed over 2 years 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