CommBank Corporate Low Rate credit card

Manage your cash flow and pay off business expenses over time with the Commonwealth Bank Corporate Low Rate Credit Card.

With a low variable interest rate of 14.55% p.a., the Commonwealth Bank Corporate Low Rate credit card gives you a way to fund larger business expenses and manage cash flow.

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14.55% p.a.

Purchase rate

$40 p.a.

Annual fee

55 days

Interest free period

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Details

Product NameCommBank Corporate Low Rate Credit Card
Purchase rate14.55% p.a.
Annual fee$40
Interest-free periodUp to 55 days on purchases
Cash advance rate14.55% p.a.
Card typeMastercard
Foreign currency conversion fee2.5%
Available to temporary residentsNo
Joint applicationNo

Pros

  • Low interest rate of 14.55% p.a.
  • Flexible payment options
  • Access with CommBiz

Cons

  • A $300 establishment fee applies
Bonus pointsN/A
Annual fee$40
Minimum monthly repayment2.5% of the closing balance or $75, whichever is greater
Late payment fee$25
Foreign currency conversion fee2.5%
Cash advance fee1.25%
Overseas cash advance fee4%
Number of additional cardholders9,999

Review by


Amy Bradney-George has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. Her work has also appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University.

Expert review

The Commonwealth Bank Corporate Low Rate credit card gives you a way to manage spending across your entire business, with the same competitive interest rate for purchases and cash advances. However, it does not offer any interest-free days, so be aware that you’ll collect interest on any balance carried on this account.

The annual fee for the CommBank Corporate Low Rate card is structured to suit the needs of medium and large businesses, with $40 p.a. per card for up to 49 cards, $32 per card for 50 to 499 cards and $24 per card for 500 or more cards. Note that there is an establishment fee of $300 when you open the account.

How to apply

You can apply for the Commonwealth Bank Corporate Low Rate credit card by contacting CommBank's business banking team on 13 19 98. Get started now by checking that you meet the following eligibility criteria and have all the documents and details you need to fill in the application form.

Eligibility criteria

  • Business requirements. You must intend to use this account primarily for business spending.
  • Age. You must be at least 18 years old to apply.

Card benefits

  • Flexible payments. Choose to pay the full amount off the card or a minimum amount each month based on your business needs.
  • Control card limits and features. The Commonwealth Bank Corporate Low Rate Card lets you set individual limits for each cardholder.

Rates & fees

  • Establishment fee. A fee of $300 applies when you accept the bank's offer for this account. This fee also applies if you request a credit limit increase and the bank approves it.
  • Annual fee. This account has annual fees of $40 p.a. per card for up to 49 cards, $32 per card for 50 to 499 cards and $24 per card for 500 or more cards.

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2 Comments

    Default Gravatar
    jafar
    July 29, 2016

    I applied for credit card how long does takes to i get

      Avatarfinder Customer Care
      Dee
      July 29, 2016

      Hi Jafar,

      Thanks for your comment.

      After approval, you will receive your Commonwealth Bank Corporate Low Rate Credit Card within the next 5-7 business days via mail.

      Cheers,
      Anndy

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