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Commonwealth Bank Business Low Rate Credit Card
Commonwealth Bank Business Low Rate Credit Card

Commonwealth Bank Credit Cards

Commonwealth Bank Business Low Rate Credit Card

Updated 4 November 2021

Manage your business spending with low 14.55% interest on purchases. Save on credit card costs with $0 annual fee and no additional cardholder fee. Plus, enjoy complimentary Transit Accident Insurance and Unauthorised Transaction Insurance.
T&Cs apply.

T&Cs apply. Offer ends 28 February 2022

Purchase Rate (p.a)

14.55%

Balance Transfer (p.a)

5.99% for 5 months No balance transfer fee.
Reverts to 14.55% p.a.

Annual Fee (p.a)

$0

$0 over 5 months

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • Low rate of 14.55% p.a. on purchase
  • Unsecured credit limit of up to $50,000 (based on eligibility criteria)
  • $0 annual fee
  • 5.99% p.a. on balance transfer rate for 5 months (reverts to cash advance rate)
  • Free additional credit card
  • Mastercard PayPass
  • Complimentary Transit Accident Insurance and Unauthorised Transaction Insurance
  • Eligible with Apple Pay, Google Pay, Samsung Pay, Fitbit Pay and Garmin Pay

  • No interest free days apply on purchases
  • There are lower balance transfer offers around

Creditcard.com.au review

Editor Review

Commonwealth Bank Business Low Rate Credit Card

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 Business Low Rate Credit Card

The CommBank Business Low Rate Credit Card is a low rate card designed for business use, with no annual fee and an unsecured credit limit of up to $50,000 (based on eligibility criteria). The card offers easy transaction management, accounting software integration, and complimentary insurance cover in the form of Transit Accident Insurance and Unauthorised Transaction Insurance.

What we love...

Designed to help business owners keep costs down, the CommBank Business Low Rate Credit Card has a low interest rate ongoing with 0 interest free days, no annual fee and with the option to add one additional cardholder at no extra cost. The ideal cash flow tool for small business owners, this card has a minimum credit limit of $500, up to a maximum of $50,000, according to cardholder eligibility.

With a simple application process, this card is easy to apply for, with no need to provide business financials. Day to day, the card is also simple to use, providing tools to make business spending easy to track, while remaining completely separate from your personal spending. Card transactions can also be integrated with accounting software, such as Xero or MYOB.

In terms of account management, you can manage your account online with CommBiz or NetBank, to request online statements, establish automated payments and change daily withdrawal limits. Transactions are updated instantly, and with transaction location mapping, you’ll always know how much has been spent and where.

As for control over the account, this can be done instantly via the CommBank app or on NetBank, allowing you to lock international payments, block ATM cash advances and limit card spending. This gives you the ability to provide cardholders with as little or as much power over their card spending as you deem necessary.

Another nice feature on the CommBank Business Low Rate Credit Card is its complimentary insurance cover. It provides Transit Accident Insurance and Unauthorised Transaction Insurance, helping to give you cover where you need it, as well as peace of mind. Last of all, the card offers a nice bit of free marketing – you can add your business name beneath the cardholder’s name on the credit card.

What’s not so great...

While that low purchase rate is great, the CommBank Business Low Rate Credit Card doesn’t offer any interest free days. So, you will pay interest from the day you make each purchase. While the card has a relatively low rate, you may find interest starts to stack up if you retain a high balance on the card.

Why should you choose this card?

One of the main reasons to choose the CommBank Business Low Rate Credit Card would be for its no annual fee. Ongoing, this card could help keep costs low, making it a good choice for business owners who want to pay no annual fee for a no frills card. There is also the option to balance transfer onto this card, to pay 5.99% p.a. for five months. However, if a balance transfer is what you’re looking for, you may find a better deal elsewhere.

As a Mastercard, the card offers all the benefits that Mastercard provides, including worldwide acceptance in more than 210 countries, 24/7 emergency assistance overseas with Mastercard Global Service if you happen to lose your card, and access to experiences and offers exclusively for Mastercard cardholders through Priceless Sydney and Mastercard Privileges.

Overall Rating

With a low purchase rate and no annual fee, the CommBank Business Low Rate Credit Card is an excellent money-saver for small business owners, offering tracking and accounting tools for easy card management.

User reviews

Commonwealth Bank Business Low Rate Credit Card ( based on 1 Creditcard.com.au user review )

52% rating based on 1 review

Rates
Fees
Rewards
Customer Service
Value

Rates and fees

Interest rates



Purchase rate 14.55% p.a.

Cash advance rate 14.55% p.a.

Interest free period on purchases up to 0 days

Balance transfer

Balance transfer rate 5.99% p.a. for 5 months

Balance transfer revert rate 14.55% p.a.

Balance transfer from personal loan No

Balance transfer fee No fee

Balance transfer limit 100% of approved credit limit

Banks you can't balance transfer from Commonwealth Bank

Credit limits

Minimum credit limit $500

Maximum credit limit $50,000

Fees & repayments

Annual fee $0 p.a.

Additional cardholder fee $0 p.a.

Foreign transaction fee 3%

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

Cash advance fee Consumer: $3 or 3%, whichever is greater; Commercial: 1.5%

Late payment fee $20

Additional features

Complimentary insurance

International Travel Insurance No

Flight Inconvenience Insurance No

Transit Accident Insurance Yes

Smartphone Screen Insurance No

Purchase Protection Insurance No

Extended Warranty Insurance No

Rental Vehicle Excess In Australia Insurance No

Extras

Unauthorised Transaction Insurance

Priceless Sydney and Mastercard Privileges

Overview

Commonwealth Bank Business Low Rate Credit Card

The Commonwealth Bank Business Low Rate Credit Card comes with a low rate on purchases and no annual fee which could help you save on credit card costs. No interest free days apply on purchases. You can also take advantage of its low 5.99% p.a. balance transfer interest rate for the first 5 months.

Key features

  • Low rate of 14.55% p.a. on purchases
  • $0 annual fee
  • Unsecured credit limit of up to $50,000 (based on eligibility criteria)
  • 5.99% p.a. on balance transfer rate for 5 months (reverts to cash advance rate)
  • Free additional credit card
  • Mastercard PayPass
  • Complimentary Transit Accident Insurance and Unauthorised Transaction Insurance

Minimum criteria to apply for this card

  • Be over 18 years old

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

  • Legally have the right to work in Australia. Not currently bankrupt

  • 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.

8 questions (showing the latest 10 Q&As)

Mweze Gasper

Mweze Gasper

14 October 2021
i need to get creed card
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    15 October 2021
    Hi Mweze, you can apply online for a credit card. Though we don’t currently have access to Commonwealth Bank Business Low Rate Credit Card, you can directly go to their website to apply.
Mary

Mary

13 July 2021
Can I use this to pay a personal debt
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    14 July 2021
    Hi Mary, thanks for your question! If you’d like to withdraw cash from your credit card to pay the debt, this is totally possible but comes with its own risks and fees. Cash advances attract interest from the moment the money leaves the ATM and can end up being very expensive. If you are referring to transferring balances from your personal loan, unfortunately, per CommBank’s terms and conditions, this is not allowed. The only provider that allows transferring debt from personal loans is Citi and any card underwritten by Citi like Coles and Qantas. Let us know if you need any more information.
Tuan Ngo

Tuan Ngo

9 July 2021
I'd like to apply for CBA Business Low Rate Credit Card for buying car worth $9000. Is it true that I pay no interest for the first 15 months? And, if I pay off the loan before the 15 month end date, Can I cancel the account without paying any fee? Also, how long would it take to get the card. I need the money within a week from now. Kind regards, Tuan
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    13 July 2021
    Hi Tuan, thanks for your comment. Whilst we can’t provide advice on your specific situation, we’ve written a few guides on how interest free cards work that could guide you, including guides for small businesses. When you are comparing credit cards with interest free offers, a 0% for 15 months offer, the 0% offer will expire 15 months after you get the card. In this day and age, some credit cards can be added to your digital wallet as soon as you are approved. We hope this has helped you in your comparison.
Anthony Bourke

Anthony Bourke

29 June 2021
I am retired and receive the age pension. I am a C'wealth Customer. I have not had a credit card for more than ten years. Could I apply for a Credit Card - I would only require a limit of $1,000.
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    30 June 2021
    Hi Anthony, thanks for your question. As long as you meet the eligibility criteria and provide proof of income and are not bankrupt, you may apply. I suggest going to Commonwealth Bank’s website to learn more.
Leona Russell

Leona Russell

28 June 2021
Looking to check whether I am eligible and for how much.
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    29 June 2021
    Hi Leona, thanks for your interest. As long as you meet the eligibility criteria of being over 18 years old, have a good credit rating, have the right to work in Australia and not currently bankrupt you should be able to apply.
dewi

dewi

19 March 2021
Hi, im very new in credit card world and literally knows nothing, i want to start using credit card for the credit points. any credit card can you recommend? and suggestions?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    19 March 2021
    Hi Dewi, we have a whole guide on getting your first credit card. You can check it out and learn what you need to know here. It will depend on your income, how much you plan to spend and what you're willing to pay in terms of fees and interest.
eleanor

eleanor

21 May 2020
Do you have to have a CBA account to have this credit card?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    22 May 2020
    Hi Eleanor, no you do not. You can apply without being a bank account customer for any credit cards.
Mel Nahlos

Mel Nahlos

8 November 2019
Hi there Roland, I hope you are awake. Could you please advise if this credit card from Comm Bank is the same as the Westpac Low Rate Credit Card where you get $200 cash backk when you spent $400 within 90 days of approval?
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