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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 7 April 2021

Manage your business spending with 0% p.a. interest on purchases for the first 15 months when you apply by 30 June 2021. Save on credit card costs with $0 annual fee and no additional cardholder fee. Plus complimentary Transit Accident Insurance and Unauthorised Transaction Insurance.

T&Cs apply. Offer ends 30 June 2021

Purchase Rate (p.a)

0% p.a.

for 15 months. Reverts to 14.55% p.a.

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

  • 0% p.a. interest on purchases for 15 months. Reverts to standard purchase rate of 14.55% p.a.
  • 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

Roland Bleyer
Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au. 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, no annual fee and with the option to add one additional cardholder at no extra cost. On top of that, it offers 0% p.a. interest on purchases for 15 months when you apply and get approved by June 30, 2021. 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.

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.

Introductory purchase rate 0% p.a. for 15 months

Cash advance rate 14.55% p.a.

Interest free period on purchases N/A

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 card holder fee $0 p.a.

Foreign transaction fee 3%

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

Cash advance fee $3 or 3% (whichever is greater)

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

Eligible with Apple Pay, Google Pay, Samsung Pay, Fitbit Pay and Garmin Pay

Overview

Commonwealth Bank Business Low Rate Credit Card

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

Key features

  • 0% p.a. interest on purchases for 15 months. Reverts to standard purchase rate of 14.55% p.a.
  • 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

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

Roland B Bleyer

Roland B Bleyer founded Creditcard.com.au in 2005 and has extensive knowledge about credit cards. He personally answers all questions and write the editor reviews for each card here. Always keen to share his passion to educate consumers and help you select better suited credit cards.

Recently Asked Questions

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

3 questions (showing the latest 10 Q&As)

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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