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Discontinued: Commonwealth Bank Low Rate Gold Credit Card
Discontinued: Commonwealth Bank Low Rate Gold Credit Card

Commonwealth Bank Credit Cards

Discontinued: Commonwealth Bank Low Rate Gold Credit Card

Updated 5 June 2023

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

$0 over 5 months

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • 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.

  • 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 8 years in money, budgeting and property reporting under her belt. 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

Discontinued: Commonwealth Bank Low Rate Gold Credit Card ( based on 4 Creditcard.com.au user reviews )

53% rating based on 4 reviews

Rates
Fees
Rewards
Customer Service
Value
85%

Creditcard.com.au Visitor

8 May 2013

Great card, CBA brilliant customer service!!!

Recommends this card
74%

Creditcard.com.au Visitor

28 January 2013

Annual fee is very high.

Recommends this card

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 $25 or 2% (whichever is greater)

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

Pauline is a personal finance expert at CreditCard.com.au, with 8 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.

18 questions (showing the latest 10 Q&As)

Bruce

Bruce

27 March 2024
Now get charged monthly fee by comm bank ,used to be free.
    Pauline - CreditCard.com.au

    Pauline

    28 March 2024
    Hi Bruce, you’re right sadly. CommBank has introduced a monthly account fee for this card.
Max

Max

10 February 2024
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?
    Pauline - CreditCard.com.au

    Pauline

    14 February 2024
    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!
Chris

Chris

24 January 2024
what are the rules about the monthly fee of $8 on my gold Mastercard
    Pauline - CreditCard.com.au

    Pauline

    25 January 2024
    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.
Ian

Ian

4 June 2023
Will I be charged international account fees if I use my gold Mastercard while overseas? Thanks
    Pauline - CreditCard.com.au

    Pauline

    6 June 2023
    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.
Robyn

Robyn

11 May 2022
Is there an age limit for travel insurance
    Pauline - CreditCard.com.au

    Pauline

    12 May 2022
    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.
Amin

Amin

17 October 2021
how can i upgrade my current low rate credit card to low rate gold credit card
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    18 October 2021
    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.
Julie

Julie

27 May 2020
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?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    28 May 2020
    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.
Margaret Merlo-Brown.

Margaret Merlo-Brown.

12 May 2020
How can I get a credit card.
Abdullah

Abdullah

16 April 2020
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
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    17 April 2020
    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.
glen

glen

29 October 2019
How much do I have to earn pa can i be retired
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    30 October 2019
    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.
Jonathan Iskander

Jonathan Iskander

30 April 2018
Would you reccomend this card to me, an 18 year old student with a somewhat consistent $800/m income?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    1 May 2018
    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.
Laura Penny

Laura Penny

8 March 2018
How Do I Apply
Don

Don

30 April 2017
What is the minimum income p.a. required ?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    1 May 2017
    Hi Don, there is no set minimum income provided by commonwealth bank on this card.
Stacey adams

Stacey adams

15 January 2017
I would like to apply for this credit card pls
Amy

Amy

1 December 2016
Hi I would combank low rate card please
Kieron

Kieron

21 November 2016
Can I withdraw from my account/card? If so is there a limit for now much I can withdraw?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    22 November 2016
    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.
josephine

josephine

2 March 2016
please explain the purchase rate
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    3 March 2016
    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.
art freund

art freund

8 April 2013
are the points held in an account without expiry and can I transfer them to any program, ie Qantas or Virgin or Singapore?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    9 April 2013
    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).

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