Commonwealth Bank Low Fee Card
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Enjoy up to 55 interest-free days on purchases, a balance transfer offer and a $0 annual fee for the first year with the Commonwealth Bank Low Fee card.
Commonwealth Bank’s Low Fee card combines cost-saving features with a $0 annual fee in the first year and 5.99% p.a. on balance transfers for 5 months.
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
Details
| Product Name | Commonwealth Bank 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 (p.a.) | 19.74% p.a. |
| Annual fee | $0 p.a. annual fee for the first year ($29 p.a. thereafter) |
| Interest Free Period | 55 days |
| Cash advance rate (p.a.) | 21.24% p.a. |
| Min credit limit | $500 |
| Card Type | Mastercard |
| Foreign Currency Conversion Fee (Visa/Mastercard) | 3% of transaction value |
| Complimentary Travel Insurance | No |
| Minimum Age | 18 years of age |
|---|---|
| Available to Temporary Residents | Yes - Conditions apply |
| Joint Application | No |
Pros
- Get $0 annual fee for the first year, reverting to $29 every year thereafter. CommBank will continue to waive your annual fee providing that you spend $1,000 or more in the previous year.
- This card comes with a balance transfer offer of 5.99% p.a. for the first 5 months.
- Enjoy up to 55 days interest-free on purchases.
Cons
- Being a low cost, no frills card, the Commonwealth Bank Low Fee credit card has none of the bells and whistles that come with many other cards.
| Annual fee | $0 p.a. 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 (Visa/Mastercard) | 3% of transaction value |
| 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
Sally McMullen
sally.mcmullen@finder.com.auSally McMullen is Finder's credit cards and frequent flyer editor by day and a music maven by night. Her byline can be spotted on Yahoo Finance, Dynamic Business, Financy and Mamamia as well as Music Feeds and Rolling Stone.
