Commonwealth Bank Low Rate Gold Credit Card

13.24% p.a.

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

$89

Commonwealth Bank Low Rate Gold Credit Card Review

Rates and fees information correct as at 22 July 2018.

Review published: 10 April 2013

What's hot:

  • 13.24% purchase rate

  • 3 complimentary insurances - travel, extended warranty and purchase security

  • Complimentary travel insurance

What's not:

  • $89 annual fee

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, 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. 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.

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 $4000 so if you only want a low limit try the regular low rate card.

Any catches?

Automate your monthly repayments or you'll have to pay a $20 late fee.

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 Rate Gold Credit Card

Commonwealth Bank

Commonwealth Bank Low Rate Gold Credit Card credit card review

Overall rating   2 / 10

Non disclosure

The bank person did not inform me of the fee when I applied and then it was deducted out of my account , if I knew I would have not nominated this account ,and the amount was not printed in my application form , not happy , looking to go to...

Full review

The bank person did not inform me of the fee when I applied and then it was deducted out of my account , if I knew I would have not nominated this account ,and the amount was not printed in my application form , not happy , looking to go to another bank and transfer amount 12 months interest free , did not inform me of a gold card that collects points either.

    Price   2 / 10

    Features   4 / 10

    Customer service   0 / 10

    Convenience   3 / 10

    Trust   1 / 10

Less

Jacquilyne (TAS), reviewed 7 months ago

Commonwealth Bank

Commonwealth Bank Low Rate Gold Credit Card credit card review

Overall rating   10 / 10

I won't be changing

Very good

Full review

Very good

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Leonie (NSW), reviewed over 2 years ago

Commonwealth Bank

Commonwealth Bank Low Rate Gold Credit Card credit card review

Overall rating   10 / 10

The better choice when it comes to money

- Friendliest Customer Service - Netbanking app is VERY efficient - Approachable staff at all branches i've been to - Convenient and large amount of physical branch locations

Full review

- Friendliest Customer Service - Netbanking app is VERY efficient - Approachable staff at all branches i've been to - Convenient and large amount of physical branch locations

    Price   8 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Sam (NSW), reviewed over 2 years ago

Commonwealth Bank

Commonwealth Bank Low Rate Gold Credit Card credit card review

Overall rating   8 / 10

Very good

They've always been quick and their app is great

Full review

They've always been quick and their app is great

    Price   7 / 10

    Features   8 / 10

    Customer service   9 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Angus (NSW), reviewed over 2 years ago

Commonwealth Bank

Commonwealth Bank Low Rate Gold Credit Card credit card review

Overall rating   7 / 10

Great customer support

Promptly dealt with fraudulent access to our card, refunded the money in 2 days

Full review

Promptly dealt with fraudulent access to our card, refunded the money in 2 days

    Price   7 / 10

    Features   8 / 10

    Customer service   10 / 10

    Convenience   8 / 10

    Trust   5 / 10

Less

Steve (QLD), 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

  • 13.24% 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

  • none

  • none

  • 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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