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Commonwealth Bank Low Rate Gold Credit Card

3 reviews

Purchase rate

13.24% p.a.

Balance transfer

5.99% 5 months
5.99% Complete (success)
reverts to 21.24% p.a. No BT fee

Annual fee

$89 p.a.
89% Complete (success)

Pros

Low rate on purchases 13.24% p.a.

Low rate credit card with complimentary gold insurance covers and benefits

Add an additional cardholder at no extra cost

Cons

After 5 months the balance transfer rate reverts to the cash rate

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

  • $89 annual fee
  • Low standard purchase rate of 13.24% p.a.
  • 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.
  • Emergency assistance overseas and enhanced security chip protection
100% of customers who have rated this card would recommend it
  • Rates
    99%
  • Fees
    45%
  • Rewards
    N/A
  • Customer Service
    96%
  • Value
    78%
Overall user rating 78%
3 reviews

81% Visitor

Great card, CBA brilliant customer service!!!

Recommends this card

74% Visitor

Annual fee is very high.

Recommends this card

Interest Rates
Purchase rate 13.24% p.a.
Cash advance rate 21.24% p.a.
Interest free on purchases up to 55 days
Balance Transfer
Balance transfer rate 5.99% p.a. for 5 months
Balance transfer fee No fee
Balance transfer revert rate 21.24% p.a.
Balance transfer limit 100% of your approved new credit limit
Balance transfer from personal loan No
Banks you can't balance transfer from Commonwealth Bank
Credit limits
Minimum credit limit $4,000
Maximum credit limit $50,000
Fees & repayments
Annual fee $89 p.a.
Additional cardholder fee $0 p.a.
Cash advance fee 2%
Foreign transaction fee 3%
Minimum repayment $25 or 2%
Late payment fee $20
Credit card type Mastercard
Complimentary insurance
Overseas travel insurance yes - up to 3 months
Flight inconvenience insurance No
Transport accident cover No
Smartphone screen insurance No
Purchase protection insurance Yes
Extended warranty insurance Yes
Rental vehicle excess cover No
Extras
Eligible with Apple Pay

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, a range of complimentary insurance covers.

8 questions (showing the latest 10 Q&As)

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).
  • Be over 18 years old
  • Good credit and 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
Commonwealth Bank Low Rate Gold Credit Card
Commonwealth Bank Low Rate Gold Credit Card

Commonwealth Bank Low Rate Gold Credit Card

Updated 1 August 2019

Purchase Rate (p.a)

13.24%

Balance Transfer (p.a)

5.99% for 5 months No BT 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 rate on purchases 13.24% p.a.
  • Low rate credit card with complimentary gold insurance covers and benefits
  • Add an additional cardholder at no extra cost

  • After 5 months the balance transfer rate reverts to the cash rate

Creditcard.com.au review

Editor Review

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, a range of complimentary insurance covers.

User reviews

Commonwealth Bank Low Rate Gold Credit Card ( based on 3 Creditcard.com.au user reviews )

78% rating based on 3 reviews

Rates
Fees
Rewards
Customer Service
Value
81%

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 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 3%

Minimum repayment $25 or 2%

Cash advance fee 2%

Late payment fee $20

Additional features

Complimentary insurance

Overseas travel insurance yes - up to 3 months

Flight inconvenience insurance No

Transport accident cover No

Smartphone screen insurance No

Purchase protection insurance Yes

Extended warranty insurance Yes

Rental vehicle excess cover No

Extras

Eligible with Apple Pay

Overview

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

  • $89 annual fee
  • Low standard purchase rate of 13.24% p.a.
  • 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.
  • Emergency assistance overseas and enhanced security chip protection

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.

8 questions (showing the latest 10 Q&As)

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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