- Low standard purchase rate of 13.24% p.a.
- 5.99% on balance transfers for 5 months. No balance transfer fee applies.
- Minimum credit limit of $4,000
- Up to 55 days interest free on purchases
- $89 annual fee
- Free additional cardholder
- Complimentary international travel, extended warranty and purchase security insurance.
- Cashback benefits for eligible cardholders through CommBank Rewards in the CommBank app
- Emergency assistance overseas and enhanced security chip protection
- Eligible with Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, and Garmin Pay.
Hi, I’m a personal finance expert who loves to help you out! I’ll answer your question within a business day. Pinky swear.
Commonwealth Bank Credit Cards
Discontinued: Commonwealth Bank Low Rate Gold Credit Card
Updated 10 June 2025
As of 02 June 2023, this card became unavailable for application. This information has been left for those who still have the card or were previously interested.
Commonwealth Bank Low Rate Gold Credit Card offers a low interest rate of 13.24% p.a. on purchases and a low balance transfer offer of 5.99% for 5 months (no fee applies). Plus complimentary overseas travel insurance, extended warranty and purchase security insurance.
T&Cs apply.
Purchase Rate (p.a)
13.24%
Balance Transfer (p.a)
5.99% for 5 months No balance transfer fee.
Reverts to 21.24% p.a.
Annual Fee (p.a)
$89
Pros and cons
- After 5 months the balance transfer rate reverts to the cash rate
Creditcard.com.au review
Editor Review
Discontinued: Commonwealth Bank Low Rate Gold Credit Card
Pauline Hatch
Pauline is a personal finance expert at CreditCard.com.au, with 9 years in money, budgeting and property reporting under her belt. Ask Pauline a Question about this card.
The Commonwealth Bank Low Rate Gold Credit Card
While it may offer a nice selection of extras, the Commonwealth Bank Low Rate Gold Credit Card keeps its focus on providing a low rate on purchases, working well for cardholders who may carry a balance occasionally. Alongside it offers overseas travel insurance, extended warranty and purchase security insurance.
What we love...
The feature we love most on the Commonwealth Bank Low Rate Gold Credit Card is of course, its low purchase rate. While it may not have the lowest rate on purchases – you may want to look at the CommBank Essentials Credit Card for that honour within the CommBank range – it could help you to save on interest, should you happen to carry a balance.
You can also save on interest day-to-day with up to 55 days interest free on purchases. Be sure to read the small print on this to really make the most of the feature. As for annual fees, this card’s annual fee is standard for a gold card, but you can add an additional cardholder at no extra cost. This could be a good money-saver for cardholders who want to add their partner to their account.
What’s not so great...
If you’re looking for big features, rewards or balance transfer offers, you will need to look elsewhere. The Commonwealth Bank Low Rate Gold Credit Card focuses on low rates, with a side of select extras. There is a balance transfer offer on this card – 5.99% p.a. for five months. While this could help you save on interest, be aware it reverts to the card’s much higher cash advance rate.
Why should you choose this card?
Overall, you need to consider what you want most from your credit card. If the most important feature is a long, low balance transfer offer, there are other cards that offer this. If you want to earn rewards, there are other cards that allow for this. If you want low rates with some extras, the Commonwealth Bank Low Rate Gold Credit Card may just be the card for you.
In terms of extras, these come in the form of complimentary insurance covers. As a cardholder, you can benefit from international travel insurance; up to one year extended warranty on most purchases; and purchase security insurance on most lost, stolen or damaged purchases. If you were thinking of buying standalone insurance, this could certainly help you to save money.
Other features include access to Priceless Cities offers and experiences, and tools such as Lock, Block, Limit, which allows you to instantly lock, block or limit your credit card. You can also work on your budgeting skills, using the card’s Spending Cap, while seeing where your money is going with Spending Tracker & Insights.
Overall Rating
A low rate card with a good selection of extras, the Commonwealth Bank Low Rate Gold Credit Card offers a low purchase rate and a range of complimentary insurance covers.
User reviews
Rates and fees
Interest rates
Purchase rate 13.24% 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
Brands you can't balance transfer from Commonwealth Bank
Credit limits
Minimum credit limit $4,000
Maximum credit limit N/A
Fees & repayments
Annual fee $89 p.a.
Additional cardholder fee $0 p.a.
Foreign transaction fee 3%
Minimum repayment 2.5% or $75 (Business Low Rate & Interest-Free Days); 2% or $25, whichever is greater (all other cards)
Cash advance fee Consumer: $4 or 3%, whichever is greater; Commercial: 1.5%
Late payment fee $20
Additional features
Complimentary insurance
International Travel Insurance Yes - up to 3 months
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
Discontinued: Commonwealth Bank Low Rate Gold Credit Card
If you are looking for a competitively priced Gold card, take a look at the Commonwealth Bank Low Rate Gold Credit Card. You can enjoy a low purchase rate, making it the ideal choice for those who want to save on interest while still enjoying Gold card perks. As a cardholder, you can enjoy a range of complimentary insurances, including international travel insurance, extended warranty, and purchase security insurance. You can also take advantage of special entertainment offers from Mastercard Applause and Mastercard Moments. Other benefits include emergency overseas assistance, up to 55 days interest-free on purchases, one free additional cardholder, secure online shopping, and the convenience of Mastercard PayPass.
Key features
- Low standard purchase rate of 13.24% p.a.
- 5.99% on balance transfers for 5 months. No balance transfer fee applies.
- $89 annual fee
- Minimum credit limit of $4,000
- Up to 55 days interest free on purchases
- Free additional cardholder
- Complimentary international travel, extended warranty and purchase security insurance.
- Cashback benefits for eligible cardholders through CommBank Rewards in the CommBank app
- Emergency assistance overseas and enhanced security chip protection
- Eligible with Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, and Garmin Pay.
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
You have your personal details ready to complete the online application
Pauline is a personal finance expert at CreditCard.com.au, with 9 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 our credit card expert a question.
Ask a question20 questions (showing the latest 10 Q&As)
If I cut my limit to minimum limit of $4,000, will I still be covered by international travel insurance?
Hi Mandy, there’s no problem if you reduce your credit limit to the minimum; you may still be eligible as long as you meet all the eligibility criteria.
i have a low rate gold mastercard, does it still exist? and am i covered for travel insurance?
Hi Wendy, if your card hasn't expired you'll still be able to use it for payments. To check your travel insurance overage, open the CBA app, go into your profile, tap "International & Travel" and scroll down to see if you have "Included International Travel Insurance". Hope this helps Wendy!
Now get charged monthly fee by comm bank ,used to be free.
Hi Bruce, you’re right sadly. CommBank has introduced a monthly account fee for this card.
I am a holder of a CBA Low Fee Gold card. I read that this card is discontinued, but as an existing cardholder can I renew my existing card?
Hi Max, CBA haven’t been too forthcoming with their information around “what’s next”. You can contact CBA directly at 13 2221 and see what they have to say!
what are the rules about the monthly fee of $8 on my gold Mastercard
Hi Chris, usually there’s a spend requirement you need to make for the monthly fee to be waived. As this card has been discontinued, I suggest reaching out to CBA directly at 13 2221 or the in app chat for more information about this.
Will I be charged international account fees if I use my gold Mastercard while overseas? Thanks
Hi Ian, I checked CommBank Low Rate Gold card and see that you’ll cop 3% foreign transaction fee if you use your card outside Australia or with an overseas merchant within Australia.
Is there an age limit for travel insurance
Hi Robyn, we don’t have an active partnership on CommBank Low Rate Gold credit card currently. I checked this for you though and see that if you are aged up to 79 years old, you may be covered. For anyone aged 80 years old and above, you may apply for Upgrades cover. You can check CommBank’s official insurance terms and conditions PDF for further information.
how can i upgrade my current low rate credit card to low rate gold credit card
Hi Amin, I suggest reaching out to CommBank directly to check what your options are. You may need to submit a new credit card application, as the two cards are separate products.
Hi, I'm interested in applying online but the CommBank website requires that you have a NetBank account, and to get one you must already be a CommBank customer, which I am not. Do you have a separate link to an online application that works outside of NetBank?
Hi Julie, it looks like all applications for Commbank are now through Netbank. Therefore you will need to sign up for one of there bank accounts first. Then register for netbank, to apply for the credit card.
How can I get a credit card.
Hi Margaret, if you are looking at a Commbank credit card. Then you can go in branch or apply directly on the CBA website - https://www.commbank.com.au/credit-cards.html
Can I use this to purchase a car from the car dealer? Would such transaction be covered in the 15 month interest free period ? Also how likely am I to get approved for a 30k limit
Hi Abdullah, yes this could be possible to purchase a car with the card. Though you need to check whether the dealer would hit you with a credit card surcharge. On the credit limit, there is no one of knowing what limit you would get before you apply. If you have strong credit history and good income v expenses. Then it is possible. Credit limits go up to 50k with this card.
How much do I have to earn pa can i be retired
Hi Glen, there is no minimum income guidance provided by CBA. To apply for this card you: Must be at least 18 years of age, Legally have the right to work in Australia, Are not currently bankrupt and Have read and understood the Key Facts sheet and Important things to know about credit cards. They may ask you to provide: Proof of income (e.g. payslips), Money you owe (e.g. personal loan statements) and Visa details if you're not a permanent resident. Bottom line it can be possible to get approved with CBA as they can see the pension as income. Additionally you may have other income sources from your super. If you are near a branch, go in and have a chat with them. If you are a current customer you can apply through Netbank.
Would you reccomend this card to me, an 18 year old student with a somewhat consistent $800/m income?
Hi Jonathan, I think this card is ok. They might try to downgrade your application to the Low Rate Credit Card instead. Overall the interest rate on this card is reasonable. The annual fee is a little high. If you bank with Commbank this helps as you can pay it off in real time from linked accounts.
How Do I Apply
Hi Laura, you can apply directly on the Commbank credit card site. https://www.commbank.com.au/personal/credit-cards/low-rate/gold.html. Compare all cards in the market to make sure you are getting the best deal.
What is the minimum income p.a. required ?
Hi Don, there is no set minimum income provided by commonwealth bank on this card.
I would like to apply for this credit card pls
Hi I would combank low rate card please
Hi Amy, you can apply directly on the CBA website - https://www.commbank.com.au/personal/credit-cards/low-rate.html
Can I withdraw from my account/card? If so is there a limit for now much I can withdraw?
Hi Kieron, you can cash advance up to your credit limit. If you go in branch, this is where you can pull out the most funds.
please explain the purchase rate
Purchase rate is the standard interest you will pay on everyday purchases such as supermarket spends, petrol, travel etc. This is the main way that people use there credit card. Other than purchases then there are balance transfers or cash advances which are the other 2 forms of interest on a card. With purchases you have an interest free period if you pay off your balance in full each month.
are the points held in an account without expiry and can I transfer them to any program, ie Qantas or Virgin or Singapore?
Hi Art, CBA Awards points do not expire so long as you have a valid card or open account with the Commonwealth Bank. The number of points you can earn per year is capped and the cap depends on which card you have and whether you have Qantas Frequent Flyer Direct membership. At the moment, as a Gold card member you would be able to earn 125,000 points in a year but this can change at any time and you would need to check yourself for any card you are thinking of applying for. To check which frequent flyer programs you can transfer points to, please see our rewards points conversion table (it is extremely useful and shows you the programs you can convert other bank rewards points to as well if that is one of the things you are interested in).
Creditcard.com.au Visitor
8 May 2013Great card, CBA brilliant customer service!!!
Recommends this cardCreditcard.com.au Visitor
28 January 2013Annual fee is very high.
Recommends this card