Your selected credit cards
Commonwealth Bank (CommBank) is the largest of Australia’s Big Four banks. It has a wide range of credit cards to choose from, including low rate, low fee and rewards credit card options, which can earn you CommBank Awards points or Qantas Points. Complimentary travel insurance is also available with some CommBank credit cards.
Low variable interest rate from CommBank
Up to 55 interest free days on new purchases
Complimentary insurances for purchases
Cashback offers available
$6 monthly fee
Doesn’t earn rewards points
International transaction fee of 3.50%
The Commonwealth Bank Low Rate credit card has a variable interest rate between 10.99% p.a. to 15.99% p.a., the higher of which is the highest available for a 'low rate' credit card in the Mozo database. However, the lower rate of 10.99% p.a. is relatively competitive.
However, unlike ANZ, NAB and Westpac, there’s no balance transfer offer with CommBank’s Low Rate card, so you’ll need to look elsewhere if that’s what you’re after.
We like that you can get up to 55 interest free days on new purchases with this card, which comes with the usual caveat of paying off your closing balance in full each billing period.
This card comes with a $6 monthly fee, setting you back $72 a year, but you do get access to a few perks in return. For example, you can earn $50 per month for the first 12 months when you spend $500 or more each month. This offer is exclusively available to new cardholders who are also CommBank Yello customers.
On top of this, you also get complimentary purchase security cover for lost, stolen or damaged items bought with your card – valid for 90 days from purchase – along with extended warranty insurance.
CommBank’s Low Rate card isn’t a rewards credit card, so you won’t earn any points for your purchases. Another drawback is that if you want to use this card overseas, an international transaction fee of 3.50% applies.
Your selected credit cards
Trusting this bank as they've helped me with scammers. Always ring me back if something is urgent and very helpful, organized, efficient and provide great customer service when money is to come back to me after being scammed eg ordering items online.
The process of application was very easy and streamlined. It was amazing how quickly the application was approved and the card arrived in the mail earlier then what was advised. Having a credit cards comes in handy for emergencies or the sneaky little splurge. Paying the credit card off is always good to set a budget with a direct debit coming out where you won't even miss the amount.
Commonwealth is stable, secure and supportive. In some respects they are slightly more expensive, but it's because they are a superior product
Fast reaction to possible fraudulent transactions on my credit card. Commonwealth Bank looks after me constantly and has saved me thousands.
I love my Commonwealth bank because they send me alerts immediately if they consider a transaction possibly fraudulent and they recovered thousand of dollars after I had my card hacked on a long weekend I have been with my bank for more than 40years and never want to change.
We love the awards point access this card provides and use this card for all our day to day expenses to maximise our points earning. Definitely paying for a couple of domestic flights a year with this. We’ve also used the lounge access passes and the tea ie insurance. Given we spend so much a month we haven’t paid any monthly fees (which are waived at a certain level spending) we pay it off I. Time to avoid paying interest. This card definitely works for our family.
I have been a loyal and consistent customer of the Commonwealth Bank Of Australia ever since I was 11 years old. I am now going on for 76 in November. I have never ever had any real complaint against the Commonwealth Bank nor the Staff. I have indeed experienced the Commonwealth Bank's real generosity !!! My Commonwealth Bank MasterCard Credit Card has often exceeded its limit and the Bank has been very patient with me and has even cancelled the interest, etc., payable on my Credit Card so that I could somehow get my finances and debt in order. This is not the first nor only time the Commonwealth Bank has expressed its generosity as they have continually done so for as long as I can remember !!!
I find Commonwealth to be excellent they have many branches ATMs and friendly staff also the app is easy to use
Good for rewards points for the first four months
Online support was very understanding when I was late with my payment. I had always paid the complete balance each month on the due date but missed one time and they didn’t charge me the penalty.
You can apply for a Commonwealth Bank credit card online or by visiting a branch.
To apply, you must:
You may need to provide:
The minimum credit limit for a Commonwealth Bank credit card varies depending on the card. Here’s an overview at the minimum credit limit for each card type:
Commonwealth Bank says that once you’ve applied for a credit card, you can get a response in 60 seconds. If you get approval, it can take up to seven working days to receive a physical credit card.
Travel insurance is available with select CommBank credit cards. To be eligible for CommBank’s international travel insurance, before you leave Australia you need to:
You can cancel a Commonwealth Bank credit card by:
To close your account, you’ll need to make sure any remaining balance is paid in full, and that there aren’t any pending or scheduled transactions on your account.
^See information about the Mozo Experts Choice Credit Card Awards
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