Commonwealth Bank Low Fee Card – Rates and Fees

Enjoy up to 55 interest-free days on purchases, a balance transfer offer and a $0 annual fee for the first year and every year after when you meet the spend requirement.

Commonwealth Bank’s Low Fee card offers affordable access to credit, with an annual fee of $0 in the first year and $29 for every subsequent year. This fee can be waived if you have spent at least $1,000 on the card in the previous year.

In addition to a low annual fee, this card offers up to 55 interest-free days on purchases when you pay your balance in full by the due date on your statement. It also offers a balance transfer rate of 5.99% p.a. for 5 months.

Product NameCommonwealth Bank Low Fee Credit Card
Balance transfer rate (p.a.)5.99% p.a. for 5 months
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Cash Advance Rate (21.24% p.a.)
Maximum Balance Transfer AmountUp to remaining credit limit
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
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 55 days on purchases
Cash advance rate (p.a.)21.24% p.a.
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$500
Minimum Monthly Repayment2% or $25 whichever is greater
Card TypeMastercard
Late Payment Fee$20
Foreign Currency Conversion Fee (MC)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Complimentary Travel InsuranceNo
Available To Temporary ResidentsYes - Conditions apply
Joint ApplicationNo
Minimum Age18 years of age
Available to Temporary ResidentsYes - Conditions apply
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
Min Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$500
Annual Fee$0 p.a. annual fee for the first year ($29 p.a. thereafter)
Minimum Repayment2% or $25 whichever is greater
Late Payment Fee$20
Over Limit Fee$0
Cash Advance Fee$2.50 or 2.00% of the transaction amount (whichever is greater)
Overseas Cash Advance Fee$2.50 or 2.00% of the transaction amount (whichever is greater)
Overseas Emergency Replacement$20
Overseas ATM Balance check$1.25
Overseas ATM Withdrawal Fee$2.50 or 2.00% of the transaction amount (whichever is greater)
Foreign Currency Conversion Fee (MC)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Gambling Transactions AllowedYes
Gambling Transactions Interest RateCash Advance Rate
Additional Cardholder Fee$0 p.a.
Number of Additional Cardholders1
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes

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 5 months.
  • Enjoy up to 55 interest-free days 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.

Commonwealth Bank Low Fee Card review

The Commonwealth Bank Low Fee Credit Card is a no-frills option that offers savings in the form of $0 annual fee in the first year, which reverts to a low standard annual fee of $29. The reverted annual fee can be waived if the card has been used to make purchases and cash advances of at least $1,000 in the previous year.

This card also gives you an opportunity to save on interest costs for existing card debt, with an introductory balance transfer rate of 5.99% p.a. for the first 5 months. After this period, the cash advance rate of 21.24% p.a. (variable) applies to any balance remaining from the transfer.

Benefits of using a Commonwealth Bank Low Fee Card

Low fee cards are designed to help you reduce the costs of using a credit card. Some of the benefits of this card are:

  • Low annual fee. The annual fee is $0 for the first year and $29 p.a. thereafter. The annual fee can be waived each following year if you spend at least $1,000 in the previous year on purchases and cash advances.
  • Balance transfer. You can transfer balances 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 balance transfer rate reverts to the standard variable cash advance rate of 21.24% p.a.
  • Interest-free days. If you pay your balance in full each month, you can receive up to 55 interest-free days on purchases.
  • Mastercard perks. You can gain access to a wide range of shopping, dining and entertainment experiences through the Mastercard Priceless Cities program.
  • Fraud protection. CommBank offers 24-hour fraud protection that's designed to detect abnormal transactions or spending patterns. It also allows you to lock your credit card temporarily through the CommBank app or in NetBank. In addition to these features and services, Mastercard Zero Liability protects you against fraudulent transactions.

Features of Commonwealth Bank Low Fee Card

Some of the key features of this card include:

  • Purchase rate. The standard variable interest rate on purchases is 19.74% p.a.
  • Cash advance rate. The standard variable interest rate for cash advances is 21.24% p.a.
  • Temporary residents. This card is also available to temporary residents. Note that all applications are subject to CommBank's lending criteria and approval.
  • Additional cardholder. You can request a supplementary card for a partner or family member with a $0 annual fee for the additional card. Note that your request will be subject to approval, and you will still be responsible for keeping the account in good standing.
  • Optional add-on insurance. This card also allows you to purchase add-on insurance for the card. This is called CreditCard Plus, which pays a benefit if you become involuntarily unemployed, temporarily or permanently disabled or if you are terminally ill or pass away. This insurance can pay 20% of the credit card balance or 10 times the minimum amount due, each month if you become involuntarily unemployed or temporarily disabled. In the event the cardholder is permanently disabled, terminally ill or has passed away, the insurance could pay off the credit card balance up to $25,000. Additionally, up to $25,000 lump sum amount will be paid in a single payment to you or your estate for terminal illness, permanent disablement and death. This insurance costs $0.45 for every $100 owing at the time your monthly statement is generated.

How to apply for Commonwealth Bank Low Fee Card

If this card meets your needs, you can apply online and get a response within 60 seconds of completing and submitting the secure application form. Before you do that, make sure you meet the eligibility requirements and have all your relevant details on hand.

Eligibility criteria

  • Age. You must be at least 18 years of age.
  • Resident. You must be an Australian citizen or permanent resident, or hold an eligible visa (457, Permanent Resident, temporary business visa).
  • Credit history. You must not be an undischarged bankrupt.

Required documents

  • Identity proof. Driver's licence, passport or other identity proof documents are required.
  • Employment details. You may be asked for a range of employment details including payslips, length of employment and job title.
  • Financial details. This includes information on any existing debts. You may be asked to provide statements for your accounts, as well as details on ongoing household expenses such as rent, utilities and grocery spending.

The Commonwealth Bank Low Fee Card could help you keep your card expenses to a minimum, with a low ongoing annual fee and the option of an annual fee waiver if you spend at least $1,000 on purchases in the previous year. If you are after a low fee credit card then this product may be suitable for your needs, but remember to compare it to a range of other options so you can make an informed decision before you apply.

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78 Responses

  1. Default Gravatar
    KinkyAugust 15, 2016

    I am interested in a credit card please

    • Staff
      MayAugust 15, 2016Staff

      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

  2. Default Gravatar
    SamOctober 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

    • Staff
      JonathanOctober 13, 2015Staff

      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
      October 13, 2015

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

    • Staff
      JonathanOctober 13, 2015Staff

      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

  3. Default Gravatar
    rhiannonMay 5, 2015

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

    • Staff
      JonathanMay 5, 2015Staff

      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

  4. Default Gravatar
    LucyMarch 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

    • Staff
      JonathanMarch 16, 2015Staff

      Hi Lucy, thanks for your inquiry!

      Applications with Commonwealth Bank can take within 10 working days.

      Cheers,

      Jonathan

  5. Default Gravatar
    SueJanuary 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?

    • Staff
      JonathanJanuary 21, 2015Staff

      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

  6. Default Gravatar
    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
      emilyMarch 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.

    • Staff
      MayMarch 21, 2017Staff

      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

    • Staff
      ShirleySeptember 1, 2014Staff

      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

  7. Default Gravatar
    adamJune 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.

    • Staff
      ShirleyJune 23, 2014Staff

      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

  8. Default Gravatar
    AmyMay 14, 2014

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

    • Staff
      ShirleyMay 15, 2014Staff

      Hi Amy,

      Thanks for your question.

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

      Cheers,
      Shirley

  9. Default Gravatar
    DorisMay 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

    • Staff
      ShirleyMay 14, 2014Staff

      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

  10. Default Gravatar
    JeanetteMay 2, 2014

    Please clarify the amount of expenditure required yearly to maintain the no fee card, your fine print mentions $10,000, however $1,000 is mentioned in Jacobs response to Abs question October 19th 2013?
    Cheers
    Jeanette

    • Staff
      ShirleyMay 7, 2014Staff

      Hi Jeanette,

      Thanks for your question and pointing this out to us.

      To confirm, the annual fee card is waived When you spend $1,000 or more per year on purchases and cash advances. I’ve fixed up the copy to reflect this.

      Thank you again for flagging this to us and we apologise for any inconvenience this has caused.

      Cheers,
      Shirley

    • Default Gravatar
      TamJune 25, 2014

      Hi,

      Just regarding the 10,000 vs 1,000. It has been corrected under the Extra Benefits heading but is still showing the incorrect 10,000 under the Save on fees and interest with the CBA etc.

      Thanks

    • Staff
      ShirleyJune 27, 2014Staff

      Hi Tam,

      Thank you so much for pointing this out to us.

      We’ve updated the copy to reflect this – again, thank you for flagging this to us and we apologise for any inconvenience this may have caused.

      Cheers,
      Shirley

Credit Cards Comparison

Rates last updated August 21st, 2017
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
NAB Premium Card - Exclusive Offer
19.74% p.a.
0% p.a. for 24 months
$90 p.a.
Exclusive to finder.com.au, enjoy a no BT fee, long-term balance transfer offer with platinum privileges, including travel insurance.
St.George Vertigo Visa
13.24% p.a.
0% p.a. for 14 months
$0 p.a. annual fee for the first year ($55 p.a. thereafter)
Receive up to 55 days interest-free on purchases and the ability to make contactless payments with Visa payWave technology.
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
20.74% p.a.
0% p.a. for 18 months
$129 p.a.
Apply by 31 October 2017 to receive a long-term, no fee balance transfer and a $129 Virgin Australia Gift Voucher each year.
St.George Vertigo Platinum
12.74% p.a.
0% p.a. for 20 months
$99 p.a.
Offers complimentary travel insurance, complimentary purchase insurance and access to a 24/7 personal concierge service.

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* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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