- Low rate of 14.55% p.a. on purchase
- Unsecured credit limit of up to $50,000 (based on eligibility criteria)
- $0 annual fee
- 5.99% p.a. on balance transfer rate for 5 months (reverts to cash advance rate)
- Free additional credit card
- Mastercard PayPass
- Complimentary Transit Accident Insurance and Unauthorised Transaction Insurance
- Eligible with Apple Pay, Google Pay, Samsung Pay, Fitbit Pay and Garmin Pay
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Commonwealth Bank Credit Cards
Commonwealth Bank Business Low Rate Credit Card
Updated 22 February 2022
Manage your business spending with low 14.55% interest on purchases. Save on credit card costs with $0 annual fee and no additional cardholder fee. Plus, enjoy complimentary Transit Accident Insurance and Unauthorised Transaction Insurance.
T&Cs apply.
Purchase Rate (p.a)
14.55%
Balance Transfer (p.a)
5.99% for 5 months
No balance transfer fee.
Reverts to 14.55% p.a.
Annual Fee (p.a)
$0
Pros and cons
- No interest free days apply on purchases
- There are lower balance transfer offers around
Creditcard.com.au review
Editor Review
Commonwealth Bank Business Low Rate 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. Ask Pauline a Question about this card.
The CommBank Business Low Rate Credit Card
The CommBank Business Low Rate Credit Card is a low rate card designed for business use, with no annual fee and an unsecured credit limit of up to $50,000 (based on eligibility criteria). The card offers easy transaction management, accounting software integration, and complimentary insurance cover in the form of Transit Accident Insurance and Unauthorised Transaction Insurance.
What we love...
Designed to help business owners keep costs down, the CommBank Business Low Rate Credit Card has a low interest rate ongoing with 0 interest free days, no annual fee and with the option to add one additional cardholder at no extra cost. The ideal cash flow tool for small business owners, this card has a minimum credit limit of $500, up to a maximum of $50,000, according to cardholder eligibility.
With a simple application process, this card is easy to apply for, with no need to provide business financials. Day to day, the card is also simple to use, providing tools to make business spending easy to track, while remaining completely separate from your personal spending. Card transactions can also be integrated with accounting software, such as Xero or MYOB.
In terms of account management, you can manage your account online with CommBiz or NetBank, to request online statements, establish automated payments and change daily withdrawal limits. Transactions are updated instantly, and with transaction location mapping, you’ll always know how much has been spent and where.
As for control over the account, this can be done instantly via the CommBank app or on NetBank, allowing you to lock international payments, block ATM cash advances and limit card spending. This gives you the ability to provide cardholders with as little or as much power over their card spending as you deem necessary.
Another nice feature on the CommBank Business Low Rate Credit Card is its complimentary insurance cover. It provides Transit Accident Insurance and Unauthorised Transaction Insurance, helping to give you cover where you need it, as well as peace of mind. Last of all, the card offers a nice bit of free marketing – you can add your business name beneath the cardholder’s name on the credit card.
What’s not so great...
While that low purchase rate is great, the CommBank Business Low Rate Credit Card doesn’t offer any interest free days. So, you will pay interest from the day you make each purchase. While the card has a relatively low rate, you may find interest starts to stack up if you retain a high balance on the card.
Why should you choose this card?
One of the main reasons to choose the CommBank Business Low Rate Credit Card would be for its no annual fee. Ongoing, this card could help keep costs low, making it a good choice for business owners who want to pay no annual fee for a no frills card. There is also the option to balance transfer onto this card, to pay 5.99% p.a. for five months. However, if a balance transfer is what you’re looking for, you may find a better deal elsewhere.
As a Mastercard, the card offers all the benefits that Mastercard provides, including worldwide acceptance in more than 210 countries, 24/7 emergency assistance overseas with Mastercard Global Service if you happen to lose your card, and access to experiences and offers exclusively for Mastercard cardholders through Priceless Sydney and Mastercard Privileges.
Overall Rating
With a low purchase rate and no annual fee, the CommBank Business Low Rate Credit Card is an excellent money-saver for small business owners, offering tracking and accounting tools for easy card management.
User reviews
Rates and fees
Interest rates
Purchase rate 14.55% p.a.
Cash advance rate 14.55% p.a.
Interest free period on purchases up to 0 days
Balance transfer
Balance transfer rate 5.99% p.a. for 5 months
Balance transfer revert rate 14.55% 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 $500
Maximum credit limit $50,000
Fees & repayments
Annual fee $0 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 No
Flight Inconvenience Insurance No
Transit Accident Insurance Yes
Smartphone Screen Insurance No
Purchase Protection Insurance No
Extended Warranty Insurance No
Rental Vehicle Excess In Australia Insurance No
Extras
Unauthorised Transaction Insurance
Priceless Sydney and Mastercard Privileges
Overview
Commonwealth Bank Business Low Rate Credit Card
The Commonwealth Bank Business Low Rate Credit Card comes with a low rate on purchases and no annual fee which could help you save on credit card costs. No interest free days apply on purchases. You can also take advantage of its low 5.99% p.a. balance transfer interest rate for the first 5 months.
Key features
- Low rate of 14.55% p.a. on purchases
- $0 annual fee
- Unsecured credit limit of up to $50,000 (based on eligibility criteria)
- 5.99% p.a. on balance transfer rate for 5 months (reverts to cash advance rate)
- Free additional credit card
- Mastercard PayPass
- Complimentary Transit Accident Insurance and Unauthorised Transaction Insurance
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. Not currently bankrupt
You have your personal details ready to complete the online application
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
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