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Commonwealth Bank Credit Cards

CommBank Neo

Updated 18 March 2022

The CommBank Neo is an interest-free credit card without any late fees or surprise charges - just a flat monthly fee. You'll also enjoy cashback and other benefits through CommBank Rewards.
T&Cs apply.

Purchase Rate (p.a)

0%

Balance Transfer (p.a)

N/A  

Annual Fee (p.a)

$0

$0

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • Enjoy cashback and other benefits through CommBank Rewards
  • No interest, no late fees
  • No foreign exchange fees
  • No additional cardholder fees
  • Monthly fee of $12 for a $1,000 limit
  • Monthly fee of $18 for a $2,000 limit
  • Monthly fee of $22 for a $3,000 limit

  • Fixed low credit limits

Creditcard.com.au review

Editor Review

CommBank Neo

Pauline Hatch
Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. about this card.

The CommBank Neo Credit Card Review

Providing you an alternative way to access credit, the CommBank Neo Credit Card charges no interest or late fees, and instead charges a flat monthly fee depending on your credit limit. And, if you don’t happen to use your card through the month – while keeping your balance at zero – you don’t need to pay your monthly fee.

How It Works

As the CommBank Neo Credit Card works in a somewhat different way to most other credit cards out there, we thought we’d spend some time discussing how it works.

With a standard credit card, you typically pay an annual fee for the use of the card, and interest on your balance carried over from month to month. With its Neo card, CommBank decided to play things a bit differently. With this card, there is no annual fee or interest. Instead you pay a flat monthly fee that is based on your credit limit.

  • For a credit limit of $1,000, your flat monthly fee is $12
  • For a credit limit of $2,000, your flat monthly fee is $18
  • For a credit limit of $3,000, your flat monthly fee is $22

And if you don’t use your card through the month? As long as your balance remains at $0, you will not have to pay the monthly fee.

The card also helps you save on other fees too.

Unlike most other credit cards, there are no late fees to worry about on the CommBank Neo Credit Card. There are also no additional cardholder fees if you choose to add another cardholder to your account. And if you use your card to pay in a foreign currency, you won’t have to shell out on foreign exchange fees. This could save you heaps when you travel overseas, or if you have a penchant for online shopping at international retailers.

What’s not so great...

Without the annual fee or interest, the CommBank Neo Credit Card keeps things simple. That means no rewards earning on CommBank’s Awards program, and no fancy extras such as insurance covers and airport lounge access.

This is a card that offers purchases only. That means no balance transfers and no cash advances. While this obviously means no withdrawals at the ATM, bear in mind it also means no gambling transactions or purchases of foreign currency, prepaid cards or lottery tickets.

If you’re a big spender, you may find the card’s relatively low credit limits somewhat limiting. On the other hand, if you’re trying to avoid the temptation to spend and want to keep a close rein on your spending, having a smaller credit limit could be ideal.

Why should you choose this card?

The CommBank Neo Credit Card is designed to make it easier for you to manage your finances, with no annual fee or interest to worry about. Instead of paying annual fees and racking up interest month to month, you could get a firmer grip on your spending with this credit card, paying a flat monthly fee as you pay off your balance each month.

And if you choose not to use your card, you can keep your monthly outgoings to zero. As long as your balance stays at $0, any month you don’t use your card will result in a $0 monthly fee.

Further helping you manage your finances, the card will not let you go over your credit limit. Any transactions you try to make that will exceed your limit will be declined. And while it may act differently to standard credit cards, the Neo still allows you to build your credit score as you use it responsibly.

You may also choose this card for its simplicity. In essence it’s a basic card, which means extras are kept to a minimum. While you can enjoy the same contactless payments and security features as any other credit card, there is nothing to distract you, such as rewards. With that being said, you can still take advantage of the benefits on offer via CommBank Rewards.

Overall Rating

With the CommBank Neo Credit Card you can say goodbye to annual fees and interest, opting instead for this simple card that allows you access to credit, while charging a flat monthly fee depending on your credit limit. While still allowing you to build your credit score and access CommBank Rewards, the card can further help you save with no late fees, additional cardholder fees or foreign currency fees.

User reviews

CommBank Neo ( based on 4 Creditcard.com.au user reviews )

75% rating based on 4 reviews

Rates
Fees
Rewards
Customer Service
Value
100%

JENNA WELLIP

19 October 2021

AM COMMONWEALTH BANK CUSTOMER .

Recommends this card

Rates and fees

Interest rates



Purchase rate 0% p.a.

Cash advance rate N/A

Interest free period on purchases N/A

Credit limits

Minimum credit limit $1,000

Maximum credit limit $3,000

Fees & repayments

Annual fee $0 p.a.

Additional cardholder fee 0

Foreign transaction fee 0%

Minimum repayment $25 or 2% (whichever is greater)

Cash advance fee N/A

Late payment fee $0

Additional features

Complimentary insurance

International Travel Insurance No

Flight Inconvenience Insurance No

Transit Accident Insurance No

Smartphone Screen Insurance No

Purchase Protection Insurance No

Extended Warranty Insurance No

Rental Vehicle Excess In Australia Insurance No

Overview

CommBank Neo

Key features

  • Enjoy cashback and other benefits through CommBank Rewards
  • No interest, no late fees
  • No foreign exchange fees
  • No additional cardholder fees
  • Monthly fee of $12 for a $1,000 limit
  • Monthly fee of $18 for a $2,000 limit
  • Monthly fee of $22 for a $3,000 limit

Minimum criteria to apply for this card

  • Be over 18 years old

  • Good Credit and have not applied for multiple credit cards recently

  • Resident or citizen of Australia

  • You have your personal details ready to complete the online application

Pauline

Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. Pauline is passionate about seeing Aussies win by making their money – and their credit cards – work smarter, harder and bigger

Recently Asked Questions

Something you need to know about this card? Ask a our credit card expert a question.

14 questions (showing the latest 10 Q&As)

Tuan nguyen

Tuan nguyen

9 June 2022
No name or number on Neo card, how can Make the purchase online thanks
    Pauline - CreditCard.com.au

    Pauline

    10 June 2022
    Hi Tuan, for the cards with no details on the front, the name, number, expiry and CVC are generally on the back of the card.
XENOFON KARAKATSANIS

XENOFON KARAKATSANIS

23 March 2022
I thinking about getting this credit card. With with 2k limit
    Pauline - CreditCard.com.au

    Pauline

    31 March 2022
    Hi Xenofon, thanks for your interest! We currently don’t have access to this card but you can go to CommBank’s official website to apply.
Mithun

Mithun

23 March 2022
Hi team, Can I avoid paying the monthly fee of the CommBank Neo credit card if I buy stuffs with it and immediately pay off the balance (thereby keeping it $0)? Or will the bank charge me the monthly fee if I just use it, even though I pay off the balance in full? Please do clarify. I am a bit confused with their terms. Regards, Mithun
    Pauline - CreditCard.com.au

    Pauline

    31 March 2022
    Hi Mithun, I checked CommBank Neo’s terms and it states that as long as you pay off the balance in full on or before the due date indicated on your monthly statement, you won’t be charged the monthly fee. Hope this helped!
Mark

Mark

19 March 2022
Can the Commbank Neo be used for online purchases?
    Pauline - CreditCard.com.au

    Pauline

    23 March 2022
    Hi Mark, I checked and see that Commbank Neo is used like any other credit card for online purchases. You can also use our comparison tool to check other cards we have access to for your options that can be used for online purchases/shopping.
Pat

Pat

27 January 2022
Can i withdraw cash from atm?
    Pauline - CreditCard.com.au

    Pauline

    28 January 2022
    Hi Pat, I checked the terms of CommBank Neo’s card and it states that this card only offers purchases only. This means that no cash advances or withdrawals from ATM or balance transfers can be made. If you’re looking for a “no interest monthly fee” card that allows you to withdraw cash (with a fee) the Community First n0w card has that feature. If you want to see other cards, you can use our low cash advance cards comparison tool to see what your options are.
Robyn

Robyn

8 December 2021
Why does the card transaction get decline on purchases at places like aldi and jay jay's? It says it's accepted everywhere mastercard is used
    Pauline - CreditCard.com.au

    Pauline

    9 December 2021
    Hi Robyn, I’m sorry to hear about the trouble you’re having.. And to be sure, you’re actually on Creditcard.com.au, one of Australia’s leading credit card comparison sites. I suggest contacting CommBank directly at 13 2221 to check on why your card is not being accepted.
Debbie Badenoch

Debbie Badenoch

28 September 2021
how much is the repayment on neo credit card for 3000 Thankyou
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    29 September 2021
    Hi Debbie, the minimum repayment is $25 or 2% (whichever is higher) of the balance owed. If you owe $3000, the minimum amount you need to make before the statement due date is $60. You’ll also need to pay your flat monthly fee of $22 for a credit limit of $3,000. Let us know how the card goes for you.
Zerin

Zerin

28 September 2021
Can you transfer from your NEO card to your other commbank accounts?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    29 September 2021
    Hi Zerin, just trying to clarify your question. If you are looking to balance transfer to a Neo card, I’m sorry to be the bearer of this but balance transfers are not available on Commbank Neo card. If you are looking to transfer debt accumulated on the Neo card to another bank, then you’ll have to put the Neo details in at the application. Let us know if you have any other questions!
Nicole

Nicole

22 June 2021
So if I spend $100 I will get charge a $12 monthly fee each month until it’s back to $0? Can you pay extra in that month to get the balance back to $0?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    23 June 2021
    Hi Nicole, thanks for your question! We looked deeper at CommBank Neo credit card’s terms and as long as you have a $0 balance on the card, you will not pay any monthly fee. Your repayment schedules are entirely up to you (as long as you meet the minimum monthly repayment) to get back to $0. Hope this helps!
Hannah Sexton

Hannah Sexton

29 April 2021
How long does it take to get approved for the neo card after sending off application?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    4 May 2021
    Hi Hannah, thanks for your question. We can't give an exact answer as it will come down to CommBank's credit approval criteria.
Santiago

Santiago

21 March 2021
If I get the card and I only need the 1000 dollar limit for 1 month then I would just need to pay 12 dollars for that 1 month. Is that possible or ir it a minimum of months that I need to be paying?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    22 March 2021
    Hi Santiago, that's correct. You only pay the monthly fee if you use the card or are carrying a balance. Assuming you use it and pay it off for that $1,000 limit within 1 month, you'll only have to pay the monthly fee once. When you don't use the card and have a $0 balance, the monthly fee gets refunded back to the account.
Ricardo

Ricardo

19 January 2021
If I apply and use this card, and say I use under $1000 every month, do I only pay $12 for the monthly fee? It seems like an easy question but I'm all new to this and want to gain a better understanding. Thank you. Also would you personally use this card or option?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    20 January 2021
    Hi Ricardo, where they get you is if you use the card at all, you pay the monthly fee based on your credit limit. Even if you pay off in full you will get charged the monthly fee with use. From the CBA site - We’ll waive your monthly fee if you don’t have any processed transactions2 in a given statement period and you pay your previous statement closing balance in full (i.e. the total amount you owe from your last statement period) by the due date. So it may be better if you pay off the card in full, to use a low rate card e.g. ANZ Low Rate.
Ian Samuels

Ian Samuels

13 January 2021
What is the interest rate on money borrowed
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    14 January 2021
    Hi Ian, there is no interest rate. Just a monthly fee that you pay if you use the card.
Zara Williams

Zara Williams

8 January 2021
I wan't a credit card to use for on-line purchases and for whenever I scan my card. As I normally pay off any balance owing every month, am I correct in thinking I should never have any charges at all ( no monthly charge,no annual fee) ? In other words the monthly charge only happens if one does NOT pay off the balance each 55 days ?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    11 January 2021
    Hi Zara, that would be perfect. Though where Commbank get you with this card. Is the fact, they charge the monthly fee if you use your card at all in the month. So based on the above you wont pay interest. Though you will pay the monthly fee if you use it.
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