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Commonwealth Bank Credit Cards

CommBank Neo

Updated 7 February 2024

The CommBank Neo is an interest-free credit card without any late fees or surprise charges - just a flat monthly fee. You'll also enjoy cashback and other benefits through CommBank Rewards.
T&Cs apply.

Purchase Rate (p.a)

0%

Balance Transfer (p.a)

N/A  

Annual Fee (p.a)

$0

$0

My transfer amount

Balance transfer from:

My annual fee

My interest rate

Pros and cons

  • Enjoy cashback and other benefits through CommBank Rewards
  • No interest, no late fees
  • No foreign exchange fees
  • No additional cardholder fees
  • Monthly fee of $15 for a $1,000 limit
  • Monthly fee of $20for a $2,000 limit
  • Monthly fee of $25 for a $3,000 limit

  • Fixed low credit limits

Creditcard.com.au review

Editor Review

CommBank Neo

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.

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The CommBank Neo Credit Card Review

Providing you an alternative way to access credit, the CommBank Neo Credit Card charges no interest or late fees, and instead charges a flat monthly fee depending on your credit limit. And, if you don’t happen to use your interest free credit card through the month – while keeping your balance at zero – you don’t need to pay your monthly fee.

How It Works

As the CommBank Neo Credit Card works in a somewhat different way to most other credit cards out there, we thought we’d spend some time discussing how it works.

With a standard credit card, you typically pay an annual fee for the use of the card, and interest on your balance carried over from month to month. With its Neo card, CommBank decided to play things a bit differently. With this card, there is no annual fee or interest. Instead you pay a flat monthly fee that is based on your credit limit.

  • For a credit limit of $1,000, your flat monthly fee is $15
  • For a credit limit of $2,000, your flat monthly fee is $20
  • For a credit limit of $3,000, your flat monthly fee is $25

And if you don’t use your card through the month? As long as your balance remains at $0, you will not have to pay the monthly fee.

The card also helps you save on other fees too.

Unlike most other credit cards, there are no late fees to worry about on the CommBank Neo Credit Card. There are also no additional cardholder fees if you choose to add another cardholder to your account. And if you use your card to pay in a foreign currency, you won’t have to shell out on foreign exchange fees. This could save you heaps when you travel overseas, or if you have a penchant for online shopping at international retailers.

What’s not so great...

Without the annual fee or interest, the CommBank Neo Credit Card keeps things simple. That means no rewards earning on CommBank’s Awards program, and no fancy extras such as insurance covers and airport lounge access.

This is a card that offers purchases only. That means no balance transfers and no cash advances. While this obviously means no withdrawals at the ATM, bear in mind it also means no gambling transactions or purchases of foreign currency, prepaid cards or lottery tickets.

If you’re a big spender, you may find the card’s relatively low credit limits somewhat limiting. On the other hand, if you’re trying to avoid the temptation to spend and want to keep a close rein on your spending, having a smaller credit limit could be ideal.

Why should you choose this card?

The CommBank Neo Credit Card is designed to make it easier for you to manage your finances, with no annual fee or interest to worry about. Instead of paying annual fees and racking up interest month to month, you could get a firmer grip on your spending with this credit card, paying a flat monthly fee as you pay off your balance each month.

And if you choose not to use your card, you can keep your monthly outgoings to zero. As long as your balance stays at $0, any month you don’t use your card will result in a $0 monthly fee.

Further helping you manage your finances, the card will not let you go over your credit limit. Any transactions you try to make that will exceed your limit will be declined. And while it may act differently to standard credit cards, the Neo still allows you to build your credit score as you use it responsibly.

You may also choose this card for its simplicity. In essence it’s a basic card, which means extras are kept to a minimum. While you can enjoy the same contactless payments and security features as any other credit card, there is nothing to distract you, such as rewards. With that being said, you can still take advantage of the benefits on offer via CommBank Rewards.

Overall Rating

With the CommBank Neo Credit Card you can say goodbye to annual fees and interest, opting instead for this simple card that allows you access to credit, while charging a flat monthly fee depending on your credit limit. While still allowing you to build your credit score and access CommBank Rewards, the card can further help you save with no late fees, additional cardholder fees or foreign currency fees.

User reviews

CommBank Neo ( based on 8 Creditcard.com.au user reviews )

38% rating based on 8 reviews

Rates
Fees
Rewards
Customer Service
Value
0%

Kit

6 January 2023

If you use the card and pay full payment before due date, or before statement arrived, you will be charged for monthly fees. When statement arrived the monthly fees already charged inside statement, even you pay full amount to 0 balance before statement date, you still get charged monthly fees when statement arrived. So 12xmontly fees how much the annual fees for the card ? Count yourself. Only way not be charged for the Monthly fees is you not use the card, otherwise you will get charged monthly fees.

Does not recommend this card
100%

JENNA WELLIP

19 October 2021

AM COMMONWEALTH BANK CUSTOMER .

Recommends this card

Rates and fees

Interest rates



Purchase rate 0% p.a.

Cash advance rate N/A

Interest free period on purchases N/A

Credit limits

Minimum credit limit $1,000

Maximum credit limit $3,000

Fees & repayments

Annual fee $0 p.a.

Additional cardholder fee 0

Foreign transaction fee 0%

Minimum repayment $25 or 2% (whichever is greater)

Cash advance fee N/A

Late payment fee $0

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

Overview

CommBank Neo

Key features

  • Enjoy cashback and other benefits through CommBank Rewards
  • No interest, no late fees
  • No foreign exchange fees
  • No additional cardholder fees
  • Monthly fee of $15 for a $1,000 limit
  • Monthly fee of $20 for a $2,000 limit
  • Monthly fee of $25 for a $3,000 limit

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

  • 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.

33 questions (showing the latest 10 Q&As)

Sharear

Sharear

22 January 2024
I’m an International student here in Australia. And I’m travelling frequently overseas. I was looking for a card with no foreign transaction fees. So previously I signed up for up, and surprisingly it has no extra mark up or any transaction fees. And in my home Country I’m an Amex member, but here in Australia I don’t meet the criteria for amex yet. But I recently managed to get approved for the commbank neo. And just in 2 weeks I’ll be travelling Bangladesh for a month or so. I was just wondering should I use my up debit card there, or commbank neo, as cba claims there is no transaction fee, while I’m not quite sure and clear about the mark-up fees. While up debit card directly and just charges the right conversion amount from mastercard. Can you suggest what should I do?
    Pauline - CreditCard.com.au

    Pauline

    25 January 2024
    Hi Sharear, I can’t directly suggest what you should do unfortunately for you. The reason I like to pay for things on credit while I’m travelling is that you’re technically not spending your own money. If something goes wrong (knock on wood it doesn’t) the credit provider will be quick to help you. On a debit card it’s your own money, so you’ll be out of pocket until the card provider sorts it out. It’s not for everyone, but just my preference when I travel. Enjoy your trip Sharear!
Kaz

Kaz

4 November 2023
How does the CommBank neo card work overseas?
    Pauline - CreditCard.com.au

    Pauline

    15 November 2023
    Hi Kaz, the CommBank Neo card works just like any other credit card. You can use it both overseas and in Australia, wherever Mastercard is accepted.
nm

nm

28 September 2023
Hi, if I use half of my limit in full can I pay off what has been spent in two installments?
    Pauline - CreditCard.com.au

    Pauline

    3 October 2023
    Hi there, CommBank's terms don’t say anything about repayments being limited, so it’s likely you can make two repayments. This card doesn’t have any late fees so you do have some time to pay it off, just remember you’ll pay the monthly fee for every month you have a balance left.
Tarek

Tarek

20 June 2023
If I use $3000 CBA neo in overseas ,is there any overseas transaction fee or any other fee ? Also is there anyway I don't need to pay monthly fee ( such as if I pay within certain das ?) ?
    Pauline - CreditCard.com.au

    Pauline

    21 June 2023
    Hi Tarek, I looked into this for you and see that there are no fees when you use the CommBank Neo card outside Australia (or at an overseas merchant within Australia). Also, as long as you have zero balance on your account, you will not be charged the monthly fee.
Matteo

Matteo

19 June 2023
Hi, I’ve rented a car for next month in Italy and they require a security deposit of around 800 euros on arrival. Does the Neo Credit card allow me to do so? Please let me know this is kind of urgent.
    Pauline - CreditCard.com.au

    Pauline

    20 June 2023
    Hi Matteo, using a credit card for a security deposit is common practice, and the Neo operates as a regular credit card even though the fee structure is different. To be sure, you could email the car rental company to make sure they can accept an international credit card for the deposit. I hope that helps!
Venky

Venky

16 May 2023
Hi I live in Australia, I have Commbank neo credit card of 3000. Can I use this card for shopping overseas in India and Thailand ?
    Pauline - CreditCard.com.au

    Pauline

    17 May 2023
    Hi Venky, yes you can use the CommBank Neo card in India and Thailand (or anywhere else or within Australia with an overseas merchant) wherever Mastercard is accepted. Enjoy your time in Asia!
Deane

Deane

9 May 2023
Can you please tell me if I use this card overseas do I pay any charges, eg transaction/conversion fees?
    Pauline - CreditCard.com.au

    Pauline

    10 May 2023
    Hi Deane, with the CommBank Neo card, you won't incur any charges for foreign transactions when you use the card overseas or at an overseas merchant within Australia.
Victoria Topping

Victoria Topping

13 April 2023
Is a $3000 limit available
    Pauline - CreditCard.com.au

    Pauline

    14 April 2023
    Hi Victoria, you’re actually on Australia’s top credit card comparison site, Creditcard.com.au. It looks like you have the option to choose from different credit limits for a CommBank Neo card, ranging from $1,000 to $3,000, and you can pay the corresponding monthly fee at the end of each statement period. While we don't currently have an active partnership with CommBank, you can visit their official website to apply.
Sue

Sue

11 April 2023
What will happen if I am late on my payment using the comm bank neo card? Will this affect my credit score?
    Pauline - CreditCard.com.au

    Pauline

    12 April 2023
    Hi Sue! CommBank Neo doesn’t charge any late payment fees at all. Whether it affects your credit score depends on how late the payment is, how frequently payments are missed and the amount owing. If you’re late just once or twice, it may not be recorded on your credit file and there’s nothing to worry about. If you’re having trouble keeping up, it’s a good idea to call CommBank directly – they have options for helping you get back on top of your credit debt. I hope that helps Sue!
Moustapha.ayyoub

Moustapha.ayyoub

2 February 2023
What is my Client number
    Pauline - CreditCard.com.au

    Pauline

    6 February 2023
    Hi Moustapha, you’ve reached Australia’s leading credit card comparison site, Creditcard.com.au. You can contact CommBank directly at 13 2221 about your account.
george

george

19 January 2023
hi, iam a commbank customer , can i use neo card if i travel to us or canada. thanks
    Pauline - CreditCard.com.au

    Pauline

    19 January 2023
    Hi George, you sure can! You can use your CommBank Neo card at any location that accepts Mastercard.
Kelly

Kelly

11 January 2023
I just received my Neo card. I will be travelling overseas next month and want to use it as it says no foreign transaction fees.. If I use it and then transfer the money back on to the card to keep the balance at zero will I still be charged the monthly fee for using it?
    Pauline - CreditCard.com.au

    Pauline

    12 January 2023
    Hi Kelly, with the Neo card the terms of CommBank Neo indicate that if you pay your total balance due in full on or before the due date on your monthly statement, you will not be charged a monthly fee.
Hermi

Hermi

2 January 2023
I'm really confused about which credit card to choose. I would like to have a rewards credit card that can transfer to Qantas points. Furthermore, since my spending is just about $2000 monthly, I may choose to have $59 annual fee only. There are more features that I would love to have in a credit card like shopping insurance, no expired reward points, etc. Can you suggest me any options among Big 4? Thank you so much,
    Pauline - CreditCard.com.au

    Pauline

    3 January 2023
    Hi Hermi, it’s rare to find a credit card that offers a rewards credit card with a low annual fee. But you can check some of the credit cards that let you earn Qantas points, or you can also view some of the rewards credit cards for more options. If you sort by annual fee you’ll be able to narrow your options down. You’ll then be able to read our reviews of the cards to find out more about their added extras like complimentary insurances. You can hit the “heart” emoji on cards you like to save it to your list and then compare them side by side to make an informed decision!
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