Commonwealth Bank Low Rate Gold Credit Card

Mozo snapshot:

The Commonwealth Bank Low Rate Gold card glistens with credit card goodness with a competitive 13.24% purchase rate and up to 55 days interest free. Plus, apply by 31 January 2019 and spend $500 within 90 days of activating your card and you can score $250 cashback. You'll even be able to access complimentary travel insurance through the card for you, your spouse and kids on your need overseas adventure should you meet the special conditions.

Key features:

The standard purchase rate of the Low Rate Gold Card is 13.24% and if you pay your balances off in full each month you'll get up to 55 days interest free.

With the free travel insurance you will need to activate the coverage via NetBank before you leave Australia otherwise you will only be covered for the base insurance which is limited to cover for overseas medical and hospital expenses only. Your insurance will cover you for your spouse and children who are travelling with you but be sure the read the PDS in full before your trip as there are some limits on the coverage and exclusions. You can upgrade your coverage if you need.

The Low Rate Gold Credit Card is a Mastercard so you can use the card anywhere where Mastercard is accepted around the world. For convenience it also comes PayPass enabled so just "tap and go" for purchases under $100, plus Apple Pay, which will be made available to customers from January 1 2019. Overseas purchases (online and in person) are subject to a 3% international purchase fee.

Other perks of the card include purchase security insurance, which means that if an item bought on your card gets lost, damaged or stolen within 90 days of purchase Commonwealth Bank will replace or repair the item. There is also extended warranty insurance which gives you an additional 12 months warranty on top of the manufacturers warranty.

If you live in Sydney or travel to the city regularly you'll also get access to Mastercard's Priceless Sydney service which gives you exclusive offers to restaurants, sports and entertainment events. There are a number of other Priceless cities around the world which you can also access with your Mastercard. 

The card also comes with a handy lock, block and limit feature to give you greater control by allowing you to set limits or block features that you don't want activated. For instance if you are not travelling you can block the card from overseas transactions, you can also block ATM cash withdrawals and limit the maximum purchase amount that can be processed in a single transaction. Best of all the feature is fully self managed so you can change them whenever it suits you via NetBank or the CommBank App.

And, if all that wasn't enough, you can score $250 cashback when you apply by 31 January 2019 and spend $500 within 90 days of activating your card.

Who it's good for:

The Low Rate Gold Card is a great everyday credit card to have in your wallet here and when you travel. The low purchase rate means that if you occasionally carry a balance on your card you won't get too hard hit by interest payments.

There's a minimum credit limit of $4,000 so if you only want a low limit try the regular low rate card.