Commonwealth Bank Low Fee Card

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 NameCommonwealth Bank Low Fee Credit Card
Balance Transfer Rate5.99% p.a. for 5 months
Balance Transfer Revert RateCash Advance Rate (21.24% p.a.)
Purchase Rate19.74% p.a.
Annual Fee$29
Interest Free Period55 days
Cash Advance Rate21.24% p.a.
Minimum Credit Limit$500
Card TypeMastercard
Foreign Currency Conversion Fee (Visa/Mastercard)3% of transaction value
Complimentary Travel InsuranceNo
Minimum Age18 years of age
Available to Temporary ResidentsYes - Conditions apply
Joint ApplicationNo

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$29
Minimum Monthly Repayment2% 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 Fee3% 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 Cardholders1

Expert review

Sally McMullen

Review by


Sally 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.

Expert review

The Commonwealth Bank Low Fee Card is designed for cardholders who pay their balance in full each month and want to reduce other costs. This is because while it charges a low annual fee, the purchase interest rate is quite high.

How to apply

You can apply for the Commonwealth Bank Low Fee credit card online in 15 minutes and receive a response in 60 seconds. Check if you meet the eligibility requirements and have the necessary information before you get started:

Eligibility criteria

  • Residency. This card is available to permanent and temporary residents, so long as you're legally allowed to work in Australia.
  • Credit history. You must have a good credit history with no current bankruptcies.

Card benefits

  • 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.

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.

Ask an expert

To ask a question simply log in via your email or Facebook or create an account.

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.

80 Comments

  1. Default Gravatar
    Rosie
    January 28, 2019

    It states that the fee is waived in the second year if $1000 is spend on cash advances and purchases in the previous year. What falls under ‘purchases’. If I transfer money to someone else, does that count as a purchase?

    • AvatarStaff
      Jeni
      January 30, 2019

      Hi Rosie,

      Thank you for getting in touch with finder.

      Purchases are transactions that you buy with your credit card such as groceries, petrol, dining, travel tickets and a lot more. When you use your credit card account to transfer funds to another account, your card issuer will view it as a cash advance. Therefore it does count.

      If you consider getting this credit card, please make sure though to read the eligibility criteria, features and details of the card, as well as the relevant PDS/ T&Cs of the card before making a decision and consider whether the product is right for you.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

  2. Default Gravatar
    Kinky
    August 15, 2016

    I am interested in a credit card please

    • AvatarStaff
      May
      August 15, 2016

      Hi Kinky,

      Thank you for your comment.

      When choosing a credit card, it’s always noteworthy to consider the purpose of the credit card and to factor in how you will use it and how these fit into your financial circumstance.

      Whilst we can’t recommend a specific card for you, our comparison tables on this page allow you to filter and sort the cards based on your interests – whether you’re looking to compare the rewards card, annual fee or purchase rate and more.

      I hope this is helpful.

      Cheers,
      May

  3. Default Gravatar
    Sam
    October 13, 2015

    Hi I am international student I applied for credit card but it was declined and the reason was that my financial condition is not good but it’s not true I earn 2600 monthly I have pay slips be I have saving as well so please answer

    • AvatarStaff
      Jonathan
      October 13, 2015

      Hi Sam, thanks for your inquiry!

      To apply for this card you must be an Australian citizen or granted eligible visa (457, Permanent Resident, temporary business visa).

      Cheers,

      Jonathan

    • Default Gravatar
      Sam
      October 13, 2015

      No credit cards are for students as well my friends have credit card

    • AvatarStaff
      Jonathan
      October 13, 2015

      Hi Sam, thanks for your response.

      That is correct. Certain banks/ lenders allow students to apply for credit cards if they have at least 6 months remaining on their student visa and are earning an income.

      Cheers,

      Jonathan

  4. Default Gravatar
    rhiannon
    May 5, 2015

    Can a single parent on the pension apply for this card?

    • AvatarStaff
      Jonathan
      May 5, 2015

      Hi Rhiannon, thanks for your inquiry!

      Commonwealth Bank does not specify a minimum income requirement for this card. Instead they require an ID verification, income, expense, asset and employment details. If you have any further inquiries in regards to the application process it would be ideal to contact CBA directly to best discuss your options and eligibility.

      Cheers,

      Jonathan

  5. Default Gravatar
    Lucy
    March 13, 2015

    Hi I’ve applied for my credit card and i am now waiting for a letter in the mail to come to say if I’ve been approved with my credit card or declined how long does this usually take as i applied for it almost a week ago so i have been waiting 5 business days

    • AvatarStaff
      Jonathan
      March 16, 2015

      Hi Lucy, thanks for your inquiry!

      Applications with Commonwealth Bank can take within 10 working days.

      Cheers,

      Jonathan

  6. Default Gravatar
    Sue
    January 20, 2015

    Currently I have a mortgage and personal loan with the CBA and a
    credit card which the annual fee increasing to $59 I sometimes use my card for groceries but repay before end of month would this be a better card for me?

    • AvatarStaff
      Jonathan
      January 21, 2015

      Hi Sue,

      Thanks for your inquiry!

      Please note that finder.com.au is an online comparison service, we are only licensed to provide general advice regarding the products we display.

      Depending on an individual’s needs, no annual fee credit cards which combine interest free periods on purchases can be an ideal option. No annual fee credit cards are best-suited to those people who reserve the use of their credit card for emergencies, or who make regular purchases on them but always completely clear their balance each month. This is because it is often the case that the interest rate on purchases with no annual fee credit cards is on the higher side, thus any savings on the annual fee will be quickly negated by higher interest charges if the balance is not cleared in full each month. For more information regarding No Annual Fee Credit Cards please see this page.

      I hope this helps!

      Cheers,

      Jonathan

  7. Default Gravatar
    vereonica
    August 29, 2014

    I am a pensioner with a annual income of approximately $20,000 , would I qualify for a 10,000 limit credit card. I have no debt and own my own home and car.

    • Default Gravatar
      emily
      March 21, 2017

      Hi I would like to know what is the best card to apply for please. I am a pensioner with a disabled pension , also child benefits. I do meet the 15,000limit by quite a bit.

    • AvatarStaff
      May
      March 21, 2017

      Hi Emily,

      Thank you for your inquiry.

      The banks that may accept your credit card application are listed on this page. If you click on the name of the bank, you would find the cards they offer. Please make sure to read the eligibility criteria, features and details of the card, as well as the relevant PDS/ T&Cs of the card before making a decision and consider whether the product is right for you.

      You can also contact the bank before you submit your final application to discuss your chances of approval.

      Cheers,
      May

    • AvatarStaff
      Shirley
      September 1, 2014

      Hi Vereonica,

      Thanks for your question.

      Unfortunately we can’t comment on what your credit limit could be. Commbank will assess you against their lending criteria and advise on a suitable credit limit in your application.

      I’d recommend getting in touch with Commbank to discuss your options about this.

      Cheers,
      Shirley

  8. Default Gravatar
    adam
    June 22, 2014

    Hi I’ve noticed that I can see, there is nothing mentioned about earnings or employment conditions/salary, can you please tell me what the conditions are thank you.

    • AvatarStaff
      Shirley
      June 23, 2014

      Hi Adam,

      Thanks for your question.

      While there is no minimum income requirement for this card, you’ll need to be able to show in your application that you can make your repayment commitments. Commonwealth Bank will look at your credit history, and will take into account your capacity to make repayments.

      Cheers,
      Shirley

  9. Default Gravatar
    Amy
    May 14, 2014

    It says no joint applications can you get an additional cardholder? And if so is there a fee?

    • AvatarStaff
      Shirley
      May 15, 2014

      Hi Amy,

      Thanks for your question.

      Yes, you can have up to one additional cardholder for free for the Low Fee card.

      Cheers,
      Shirley

  10. Default Gravatar
    Doris
    May 14, 2014

    Hi I’m just not clear on the 0% for 10 months. Is that from the time of getting the card of from time of purchase for the life of the card.
    EG: If I buy something straight after getting the card I can pay it off slowly and pay no interest for the first 10 months.
    What happens in 12 months time. If I then make a large purchase have I got 10months or only 55 days to pay it off before incurring the high 19% interest charge.
    Hope you can clarify Thanks
    Doris

    • AvatarStaff
      Shirley
      May 14, 2014

      Hi Doris,

      Thanks for your question.

      Generally the offer starts from the time of receiving the card and applies to eligible purchases made within that period. After the 10 months has passed, all outstanding balance from that period will revert to either the purchase rate, or cash advance rate. In this case, its the purchase rate. This page will be able to provide you with more information.

      In the situation you’ve provided. In 12 months time and you’ve made a large purchase, then the interest free days apply (assuming that you’ve paid back your balance in full by the statement period) before it starts to gain interest.

      Cheers,
      Shirley

Ask a question
Go to site