- No annual fee in the first year. Annual fee is waived in subsequent years if you spend $10,000 or more a year on purchases or cash advances in the previous year. Annual fee is $89
- $0 Additional cardholder fee
- 0% p.a. on purchases for 15 months. Apply by 28 October 2020
- Up to 55 days interest free on purchases
- Pay no international transaction fees for purchases you make overseas or online
- 5.99% p.a. on balance transfers for the first 5 months (reverts to cash advance rate)
- 24/7 emergency assistance overseas if you lose your card with Mastercard Global Service
- International travel insurance for you and for your spouse and up to 10 dependent children when travelling with you. You will need to activate before each trip
- Eligible with Apple Pay, Google Pay, Samsung Pay, Fitbit Pay and Garmin Pay
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Bendigo Bank Low Rate Credit Card
0% for 15 Months on Purchases*
*Reverts to 11.99% p.a. $45 Annual Fee. $150 Woolworths Supermarket Gift Card
Commonwealth Bank Credit Cards
Commonwealth Bank Low Fee Gold Credit Card
Updated 5 August 2020
The annual fee is waived the first year. Pay no international transaction fees for purchases you make overseas or online.
T&Cs apply. Offer ends 28 October 2020
Purchase Rate (p.a)
0% p.a.
for 15 months. Reverts to 19.74% p.a.
Balance Transfer (p.a)
5.99% for 5 months
No balance transfer fee.
Reverts to 21.24% p.a.
Annual Fee (p.a)
$0 first year. Then $89 p.a.
Pros and cons
- High purchase rate of 19.74% p.a.
- No points earn
Creditcard.com.au review
Editor Review
Commonwealth Bank Low Fee Gold Credit Card
Roland Bleyer
Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au. Ask Roland a Question about this card.
The Commonwealth Bank Low Fee Gold Credit Card
With no annual fee for the first year, the Commonwealth Bank Low Fee Gold Credit Card allows cardholders to keep costs low over the longer term with no annual fee each year there is a $10,000 spend on the card. Providing a few gold perks, this card keeps it fairly simple, with access to overseas travel insurance, extended warranty and purchase security insurance included.
What we love...
The main attraction on the Commonwealth Bank Low Fee Gold Credit Card is its low annual fee. Well, the standard annual fee isn’t actually that low, but you can reduce it to $0 with your credit card spending. How does that work? Each year you spend $10,000 on the card, the following year your annual fee will be $0. To get you started, there is no annual fee for the first year.
You may also choose to add an additional cardholder to the account at no extra cost. This could be your partner, or maybe one of your kids. Of course, as the primary cardholder, you will be liable for their spending, but this can be a handy feature for families who want to keep credit card spending simple, with only one account.
As it’s a gold card, the Commonwealth Bank Low Fee Gold Credit Card has a few select extras on offer. In terms of retail cover, the card provides extended warranty on most purchases, extending the standard manufacturer’s warranty by up to a year. Purchase security insurance is also included, covering most lost, stolen or damaged purchases.
Offering value to frequent travellers, the card also has international travel insurance, providing cover for you, your spouse and your accompanying children for return trips from Australia, up to a set period. While certain conditions and restrictions apply (check the PDS), you simply need to activate the cover before you travel to gain the comprehensive level of cover on offer.
If you don’t activate your cover, you’ll only receive the card’s ‘base medical’ cover, which includes personal liability cover, and unlimited overseas emergency medical assistance and hospital expenses only.
What’s not so great...
Trading low fees for high interest, the Commonwealth Bank Low Fee Gold Credit Card is not a card you want to carry a balance on. The card has a relatively high rate of interest on purchases and cash advances, so it’s best to avoid cash advances and clear your balance by the due date each month to avoid interest accruing.
While it may offer several handy features, this card is not overloaded with extras. There are no rewards, no intro offers, and no exclusive extras such as airport lounge access. While it does allow for balance transfers, it’s not the best offer you’ll find. But, with 5.99% p.a. over five months, it could still help you save money if that’s what you’re looking to do.
Why should you choose this card?
If you want to save on annual fees, while enjoying a few nice features, the Commonwealth Bank Low Fee Gold Credit Card could be the card for you. As long as you clear your balance month-to-month and spend at least $10,000 each year, you could enjoy everything the card has to offer without paying out anything in annual fees or interest.
You can benefit from up to 55 days interest-free on purchases, alongside access to Priceless Cities offers and experiences. You can take control of your finances with the ability to instantly lock, block or limit your credit card, or by setting a Spending Cap. Want to learn how to budget? The card’s Spending Tracker & Insights could provide the info to make that easier.
Overall Rating
As a fairly basic gold card, the Commonwealth Bank Low Fee Gold Credit Card offers complimentary insurance covers, no annual fee for the first year, and the opportunity to pay $0 annual fee each year following a $10,000 yearly spend on the card.
User reviews
Rates and fees
Interest rates
Purchase rate 19.74% p.a.
Introductory purchase rate 0% p.a. for 15 months
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 $4,000
Maximum credit limit $50,000
Fees & repayments
Annual fee $89 p.a.
Additional card holder fee $0 p.a.
Foreign transaction fee 0%
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 Yes
Flight Inconvenience Insurance No
Transit Accident Insurance No
Smartphone Screen Insurance No
Purchase Protection Insurance Yes
Extended Warranty Insurance Yes
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 Gold Credit Card
With the Commonwealth Bank Low Fee Gold Credit Card, you can enjoy Gold card perks at an annual fee of $89. $0 annual fee in the first year and subsequent years when you spend $10,000. You don’t earn reward points with this card. As a cardholder, you can get access to local and international one-of-a-kind experiences, shopping, dining and hotel offers with MasterCard Priceless Cities. One free additional cardholder, up to 55 days interest free on purchases, secure online shopping, 24/7 fraud protection, and the convenience of Mastercard PayPass.
Key features
- 5.99% p.a. on balance transfers for the first 5 months (reverts to cash advance rate)
- No annual fee in the first year. Annual fee is waived in subsequent years if you spend $10,000 or more a year on purchases or cash advances in the previous year. Annual fee is $89
- $0 Additional cardholder fee
- Pay no international transaction fees for purchases you make overseas or online
- Up to 55 days interest free on purchases
- 0% p.a. on purchases for 15 months. Apply by 28 October 2020
- Get access to local and international one-of-a-kind experiences, shopping, dining and hotel offers with Mastercard Priceless Cities
- 24/7 emergency assistance overseas if you lose your card with Mastercard Global Service
- International travel insurance for you and for your spouse and up to 10 dependent children when travelling with you. You will need to activate before each trip
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 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.
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