- Low rate of 14.55% p.a.
- $0 annual fee
Pros
Low rate of 14.55% p.a.
$0 annual fee
Cons
0 days interest free on purchases
100% of customers who have rated this card would recommend it
| Interest Rates | |
| Purchase rate | 14.55% p.a. |
| Cash advance rate | 14.55% p.a. |
| Interest free on purchases | up to 0 days |
| Balance Transfer | |
| Balance transfer rate | 5.99% p.a. for 5 months |
| Balance transfer fee | No fee |
| Balance transfer revert rate | 14.55% p.a. |
| Balance transfer limit | 100% of your approved new credit limit |
| Balance transfer from personal loan | No |
| Banks you can't balance transfer from | Commonwealth Bank |
| Credit limits | |
| Minimum credit limit | N/A |
| Maximum credit limit | $50,000 |
| Fees & repayments | |
| Annual fee | $0 p.a. |
| Additional cardholder fee | $0 p.a. |
| Cash advance fee | 2% |
| Foreign transaction fee | 3% |
| Minimum repayment | $25 or 2% |
| Late payment fee | $20 |
| Credit card type | Mastercard |
| Complimentary insurance | |
| 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 | |
| Eligible with Apple Pay |
Commonwealth Bank Business Low Rate Credit Card
Roland Bleyer
Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au.
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 and no annual fee, with the option to add one additional cardholder at no extra cost. The ideal cash flow tool for small business owners, it 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.
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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. No interest free days apply on purchases.
Key features
- Low rate of 14.55% p.a.
- Two cardholders
- Unsecured credit limit of up to $50,000 (based on eligibility criteria)
- 0 days interest free on purchases
- $0 annual fee
- Mastercard PayPass
- Be over 18 years old
- Good credit and not applied for multiple credit cards recently
- Resident or citizen of Australia. Temporary residents are eligible.
- You have your personal details ready to complete the online application
