CommBank Low Fee Card

Last updated: Feb 26, 2021

Get $150 cashback and a $0 annual fee in the first year with the CommBank Low Fee Credit Card.

The CommBank Low Fee Credit Card gives you $150 cashback on your account when you apply by 30 June 2021 and spend $1,000 on eligible purchases by 30 September 2021.

This card also offers a $0 annual fee for the first year (reverts to $29 p.a. thereafter) and up to 55 interest-free days on purchases.

5.99% p.a.

Balance transfer rate

for 5 months

19.74% p.a.

Purchase rate

$0 p.a.

Annual fee

for the first year ($29 p.a. thereafter)

55 days

Interest free period

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Details

Product Name	CommBank Low Fee Credit Card
Balance transfer rate	5.99% p.a. for 5 months
Balance transfer revert rate	Cash Advance Rate (21.24% p.a.)
Purchase rate	19.74% p.a.
Annual fee	$0 annual fee for the first year ($29 p.a. thereafter)
Interest-free period	Up to 55 days on purchases
Cash advance rate	21.24% p.a.
Min credit limit	$500
Card type	Mastercard
Foreign currency conversion fee	3%

Available to temporary residents	Yes - Conditions apply
Joint application	No

Pros

$150 cashback offer
$0 annual fee for the first year, reverting to $29 p.a. thereafter. CommBank will continue to waive your annual fee when you spend $1,000 or more in the previous year
Up to 55 days interest-free on purchases

Cons

Being a low cost, no frills card, the CommBank Low Fee credit card has none of the bells and whistles that come with many other cards

Bonus points	N/A

Annual fee	$0 annual fee for the first year ($29 p.a. thereafter)
Minimum monthly repayment	2% of the closing balance or $25, whichever is greater
Late payment fee	$20
Foreign currency conversion fee	3%
Cash advance fee	3% or $3, whichever is greater
Overseas cash advance fee	$3 or 3% of transaction value, whichever is greater
Additional cardholder fee	$0
Number of additional cardholders	1

Expert review

Review by

Amy Bradney-George

amy.bradney-george@finder.com

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 CommBank Low Fee Card has a $29 p.a. annual fee that is waived if you spend at least $1,000 on purchases and cash advances in the previous year. Its $150 cashback offer means you can enjoy some extra value when you first get the card, with a reasonable spend requirement of $1,000. Depending on when you get the card, this offer would give you between 7 and 3 months to meet the spend requirement deadline of 30 September 2021.

You can also take advantage of interest-free days on purchases, but you'll need to make sure you pay the total amount owing by the due date listed on your statement. You can learn more about how this works in Finder's guide to interest-free days to decide if this will work for you.

How to apply

You can apply for the CommBank Low Fee credit card online in around 30 minutes. Check if you meet the eligibility requirements and have the necessary information before you get started:

Eligibility criteria

Residency and work status. You must have the right to work in Australia.
Credit history. You must have a good credit history with no current bankruptcies. You can get your credit score and copy of your comprehensive credit report for free through Finder.

Age. You must be at least 18 years old.

Required documents

Personal information. This includes your full name, date of birth, residency, marital status and number of financial dependents.
Proof of identification. Including your driver's licence, passport, birth certificate or Medicare card.
Income and employment. Confirm your current employment, annual income and provide recent payslips.
Finances. This includes any assets including savings and investments as well as liabilities such as existing loans or debts.
Visa details. If you're not a permanent Australian resident, you'll need to provide your visa details.

Card benefits

$150 cashback. This card offers you $150 cashback when you apply by 30 June 2021, get approved and then spend $1,000 on eligible purchases by 30 September 2021. Eligible purchases cover most everyday spending but exclusions include cash advances, balance transfers and account fees.
Low annual fee. The annual fee is $0 for the first year and $29 p.a. thereafter. The annual fee is waived in subsequent years if you spend at least $1,000 in the previous year on purchases and cash advances.

Additional cardholder. You can request a supplementary card for a partner or family member at no additional cost. Your request will be subject to approval and you will be responsible for keeping the account in good standing.
Mastercard perks. You can access a wide range of shopping, dining and entertainment discounts and experiences through the Mastercard Priceless Cities program.
Security. Your card is monitored by 24-hour fraud protection that detects abnormal transactions or spending patterns. If your card is lost or stolen, you can temporarily lock your card through the CommBank app or NetBank. If your card is used for fraudulent transactions, you're protected by Mastercard Zero Liability.
Mobile wallets. You can link your card with Apple Pay, Samsung Pay and Google Pay to use your smartphone or wearable to tap and pay. You can also use your fitness tracker to make contactless payments with Fitbit Pay and Garmin Pay.

Rates & fees

Purchase rate. The variable interest rate on purchases is 19.74% p.a.
Cash advance rate. If you use the card for cash advances, such as ATM withdrawals, you'll be charged the 21.24% p.a. variable interest rate.

Interest-free days. If you pay your balance in full each month, you can receive up to 55 interest-free days on purchases. This doesn't apply if you're paying off a balance transfer debt.
International transaction fee. If you use this card to spend overseas or shop online with an international merchant, you'll be charged the 3% foreign transaction fee.
Balance transfer. You can move debts from other Australian credit cards or store cards to this card and get a balance transfer rate of 5.99% p.a. for the first 5 months. After the promotional period, the interest rate reverts to the variable cash advance rate of 21.24% p.a.

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CommBank Low Fee Card