The Commonwealth Bank offers a wide range of credit cards for people to choose from, but if standard options are holding you back an upgrade to gold could be the answer.
Whether it is the Low Rate, Low Fee or Awards credit card, the Commonwealth Bank offers more premium gold options for people who want more benefits, including higher credit limits.
All of Commbank’s credit cards list the minimum credit limits available, which gives potential cardholders some idea of where the line will start. It does not, however, mean that the minimum is exactly what you get and people could end up with much higher limits that the amount listed.
But the baseline provided by minimum limits makes it easier for people to request a reasonable and manageable line of credit in their applications, and also shows which cards are more likely to have higher limit options.
The standard Low Rate, Low Fee and Awards credit cards from Commbank feature a minimum credit limit of $500 each, with limit increases available based on a person’s financial situation.
The gold versions of these cards, on the other hand, offer a minimum of $4000 credit, indicating they are more exclusive options that could be ideal for people who want a larger line of credit.
Additional Gold Card Benefits
These gold cards also come with more extras than their standard versions, with features including:
- Longer complimentary international travel periods
- Access to MasterCard’s exclusive Applause program; and
- More points per dollar in the Awards rewards program
Gold cards are also a great way to improve your credit history and credit ratings from lenders because, as more exclusive options, these accounts can highlight good payment management and loan responsibility.
But these cards do tend to come with higher annual fees, with even the Low Fee Gold card costing $66 more than the standard option, so it is important to look at all the features before making a decision to upgrade.
While credit limits are not issued until after an application is approved, people can get some idea of account flexibility by looking at minimum limits.
By upgrading from a standard Commonwealth Bank card to a gold card, your chances of a bigger credit limit should increase down the line.
Tags: commbank, commonwealth bank
