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Commonwealth Bank Low Fee Credit Card
Commonwealth Bank Low Fee Credit Card

Commonwealth Bank Credit Cards

Commonwealth Bank Low Fee Credit Card

Updated 26 November 2019

Pay $0 annual fee for the first year, thereafter only $29 per year in annual fee. Or if you are a qualifying Commonwealth Bank customer spending $1,000 per year on the card, the annual fee will be waived.

Purchase Rate (p.a)

19.74%

Balance Transfer (p.a)

5.99% for 5 months No BT fee. reverts to 21.24% p.a.

Annual Fee (p.a)

$0 first year. Then $29 p.a.

$0 over 5 months

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • 5.99% p.a. on balance transfers for 5 months (reverts to cash advance rate)
  • Low annual fee of $29 and is waived first year and each year you spend $1,000 or more in the previous year
  • Up to 55 days interest free on purchases
  • Additional cardholder at no extra cost
  • Mastercard PayPass
  • Eligible with Apple Pay, Google Pay, Samsung Pay, Fitbit Pay and Garmin Pay

  • High purchase rate of 19.74% p.a.

Creditcard.com.au review

Editor Review

Commonwealth Bank Low Fee Credit Card

Roland Bleyer
Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au. about this card.

The Commonwealth Bank Low Fee Credit Card

With a low standard annual fee, the Commonwealth Bank Low Fee Credit Card is designed for cardholders who want to pay minimal annual fees in return for a fairly basic card. The card keeps it simple with very few features on offer, but it does have no annual fee for the first year, with subsequent annual fees waived for cardholders who spend at least $1,000 within the previous year.

What we love...

With the Commonwealth Bank Low Fee Credit Card, the focus is most definitely on annual fees. As you would expect from a card with ‘low fee’ in its name, this card offers a low standard annual fee. It also has no annual fee to pay in the first year, and for each year you spend at least $1,000 on the card, the following year’s annual fee will be waived.

If you want to add an additional cardholder to your account – perhaps your partner or one of your kids – you can do so at no extra cost. This can help you to keep costs at a minimum, while still enjoying access to credit. As long as you spend at least $1,000 on the card each year, and avoid interest and other fees, you could keep the card in your wallet for free.

One way you can avoid interest – and you will want to avoid interest on this card given its high purchase rate – is to use the interest free feature. This gives you up to 55 days interest free on purchases. Take note, the number of interest free days available will depend on when the purchase is made, and how far through the statement cycle it is.

As with most low fee cards, the Commonwealth Bank Low Fee Credit Card offers only a basic set of features. These provide you with access to Priceless Cities offers and experiences, and to some handy tools for budgeting and tracking your spending. This can help you keep more control over your spending, which should make it easier to pay off your balance month-to-month.

What’s not so great...

With credit cards, there are often trade-offs. With rewards comes a high annual fee. With a low annual fee comes high interest. This is the case with the Commonwealth Bank Low Fee Credit Card. It has a high rate of interest on purchases and cash advances, so if you really want to make the most of its low annual fee, you’ll have to clear your balance before interest starts accruing.

As we’ve mentioned, this card is not big on features. It doesn’t provide a rewards program, it doesn’t offer fancy extras, and it hasn’t got any enticing introductory offers. So, if that’s what you’re looking for, you’ll need to look elsewhere. Be aware though, for those features, you may end up paying a much higher annual fee.

Why should you choose this card?

If you want to keep annual fees low, the Commonwealth Bank Low Fee Credit Card could be a great choice. If you only use your card to access credit – and then pay off what you owe before interest starts accruing – then this card could help you to save on annual fees, while providing you with the basics.

These basics offer control over your card, with the ability to instantly lock, block or limit your card through the CommBank app or NetBank. You can set a Spending Cap to limit your spending, and work on your budget using the card’s Spending Tracker & Insights.

Of course, you also have Mastercard Global Service at your fingertips, providing 24/7 emergency overseas assistance if you lose your card. Meanwhile, Mastercard Zero Liability offers free protection against fraud and other unauthorised transactions, and 24-hour fraud protection designed to detect any abnormal transaction spending habits.

Overall Rating

A no frills card that can help keep costs low – as long as you don’t carry a balance – the Commonwealth Bank Low Fee Credit Card offers a low standard annual fee, with no annual fee in the first year, and a waived annual fee as long as you spend $1,000 on the card in the preceding year.

User reviews

Commonwealth Bank Low Fee Credit Card ( based on 41 Creditcard.com.au user reviews )

71% rating based on 41 reviews

Rates
Fees
Rewards
Customer Service
Value
64%

Jasmine Fernandez

28 January 2013

I have a bunch of other accounts with commonwealth so I thought Id stick with them for my credit card too. I used to have lots of credit cards about ten years ago but I kept overspending and spent too much on them so I cut them all up. I wanted a card again for emergencies and didn\'t want to pay too much. This card has low annual fee and thats what I wanted.

Recommends this card

Rates and fees

Interest rates



Purchase rate 19.74% p.a.

Cash advance rate 21.24% p.a.

Interest free period on purchases up to 55 days

Balance transfer

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

Balance transfer revert rate 21.24% 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 limt $500

Maximum credit limit $50,000

Fees & repayments

Annual fee $29 p.a.

Additional card holder fee $0 p.a.

Foreign transaction fee 3%

Minimum repayment $25 or 2%

Annual fee the first year $0

Cash advance fee 2%

Late payment fee $20

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

Extras

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

Overview

Commonwealth Bank Low Fee Credit Card

While Commonwealth Bank Low Fee Credit Card is the name of the card, with a high purchase rate of 19.74% p.a. you have to question whether this card is really suitable for you. There are a great amount of no annual fee offers available in market. Make sure you compare your options before selecting the right card for you. Pay $0 annual fee for the first year, thereafter only $29 per year in annual fee. Or if you are a qualifying Commonwealth Bank customer spending $1,000 per year on the card, the annual fee will be waived. Cardholders can also enjoy secure internet shopping, the convenience of Mastercard PayPass, up to 55 days interest free on purchases, one free additional cardholder, and special offers from Mastercard Applause.

Key features

  • Standard purchase rate of 19.74% p.a.
  • 5.99% p.a. on balance transfers for 5 months (reverts to cash advance rate)
  • Low annual fee of $29 and is waived first year and each year you spend $1,000 or more in the previous year
  • Up to 55 days interest free on purchases
  • Additional cardholder at no extra cost
  • Mastercard PayPass

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. Temporary residents are eligible.

  • 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.

18 questions (showing the latest 10 Q&As)

samcantarella

samcantarella

12 June 2019
what is the lowest limit i can have with this card and i have a number of accounts with cba. i want to avoid any bank fees regards sam
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    13 June 2019
    Hi Sam, the minimum credit limit is $500 for this CBA Low Fee credit card.
Vivek

Vivek

1 June 2019
I am a commonwealth bank user. I need a loan of some amount. I am unemployed but I will make sure that I will pay the loan in the required time. I want to use the credit card, so how can I apply for credit card?
Harro

Harro

30 October 2018
I only want a card for about $1000 for shopping convenience.I am a discharged bankrupt for about 4years. On the full pension $748 pfn and work permanent part time $505 pfn as a school services officer. Depending on which credit check company I look at the points range from 750 to 825. I am concerned that if I apply and not granted it will affect my credit rating for any purpose. I am 78 and been retired from the State/Commonwealth banks since 1992 and was CEO of a disability centre for 15 years and current employer 6 and a half years.what are my chances?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    31 October 2018
    Hi Harro, being a discharged bankrupt it is going to be hard to get approved. Age may be a factor also for the banks. Approval depends on a range of factors. Income v expenses, assets v liabilities and your ability to pay off your new card. On the more positive side applying for a credit card will have little impact on your credit rating. Best practice states that you should try not to apply for a credit item more than once in a 6 month period. I would suggest you look at a big 4 bank. I like the ANZ low rate. It has a minimum credit limit of $1,000 which works in nicely with your required amount. Minimum income is 15k a year and they do see the pension as income. I think its worth a shot to see how you go.
Cheryl Cullen

Cheryl Cullen

10 April 2018
Which card would be available to pensioners with a great credit rating and a low income?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    11 April 2018
    Hi Cheryl, approval will depend on a range of factors. If you are a CBA customer, I suggest you go into branch and discuss your options. The CBA does see the pension as income.
Umesh chapagai

Umesh chapagai

27 March 2018
It’s been 5months I am here in Australia I am on my spouse visa.my wife is student.my visa ends in 2020.i start working in abn.my salary is 2050 dollars monthly.how can I apply for the credit card..I am planning to take credit up to 5-6 thousand dollars...thank you...
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    28 March 2018
    Hi Umesh, I would go in branch and speak to someone at Commbank to see if they can help you. Temporary residents are eligible to apply for CBA credit cards.
joan dodd

joan dodd

26 November 2017
how much will i have to pay back if i got a loan of 10.oothousand
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    27 November 2017
    Hi Joan, it will depend on how long you take to pay the debt off. The interest rates are high on this credit card (circa 20%) even though its called low fee. If you are paying off something over a longer period of time its best to select a card with low interest rates such as the ME Frank.
George Gouraros

George Gouraros

17 November 2017
Does it include cover travel insurance when you buy flight tickets
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    20 November 2017
    Hi George, there is no travel insurance with the Commbank low fee credit card.
Michael tolentino

Michael tolentino

30 August 2017
I would like to apply credit card
Sarah Scott

Sarah Scott

7 June 2017
Hi i applied for a credit card earlier as im looking at restoring a good credit history after bankruptcy and have banked with commonwealth for a very long time. Can you please let me know if you can help me? I had no choice but to go bankrupt as i fleed a domestic violent relationship now im back on my feet working and paying regular house hold billds including rent
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    8 June 2017
    Hi Sarah, great to hear you are back on your feet. I would go into branch to speak to them about getting a credit card approved. It is a long road back from bankruptcy and if you are not discharged yet then you will not be approved. Once discharged then you will start the long process to come back. Best of luck with sorting everything out.
Kathleen

Kathleen

5 June 2017
Can i get this card while on centerlink?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    6 June 2017
    Hi Kathleen, it is unlikely that you will be approved for this card with centrelink only income. Though this will depend on a range of factors such as your credit history, income v expenses, assets v liabilities.
Jason long

Jason long

2 March 2017
Would I be eligible to do a balance transfer for 5800 also is interest charged daily or monthly on a balance transfer
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    3 March 2017
    On the interest, this is calculated daily. When you have a balance transfer active you have no interest free days.
Jason long

Jason long

2 March 2017
Would I be eligible to do a balance transfer for 5800 also is interest charged daily or monthly
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    3 March 2017
    Hi Jason, as long as you meet the minimum requirements you can apply. This card has a very poor balance transfer offer of 5.99% for 5 months. I would check out the other banks 0% balance transfer deals available. You just need to make sure that you choose a different bank to the one you are looking to transfer from.
Margaret Lovegrove

Margaret Lovegrove

4 February 2017
Can I apply for credit card
Francisco M Fernandes

Francisco M Fernandes

6 January 2017
How can I apply for this card online or over the phone
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    9 January 2017
    Hi Francisco, if you are already a CBA customer you can apply online through netbank. Otherwise go directly to the Commbank website - www.commbank.com.au
Cheryl

Cheryl

5 November 2016
Im after two thousand dollar card need to repair my car so I can get to work how would I go as I havent started yet
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    7 November 2016
    Hi Cheryl, typically it would take 5-10 working days to process a credit card application. If you have good credit and meet the minimum income, then you can select a card that could be right for you. Have a look at some of the 0% on purchase offers that are currently available.
lauren

lauren

6 November 2015
I have a commbank credit card with a 5000 limit but i need more credit due to my workplace not being open yet. I have bills due today and need help
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    9 November 2015
    Hi Lauren - you can request a credit limit increase through Netbank directly. This would be your fastest way of accessing new credit. Best of luck with the increase.
Ramilangusto

Ramilangusto

22 February 2014
Am I possible to cash out in this credit card?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    3 March 2014
    Hi Ramilangusto, this Commonwealth Bank card has a cash advance facility which will incur interest at 21.24% p.a..
Alicia

Alicia

13 September 2013
What would the purchase interest rate After 5 months be??
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    13 September 2013
    Hi Alicia, it will be 19.74% p.a. which is the standard purchase rate for the Low Fee card.

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