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


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 rate (p.a.)19.74% p.a.
Annual fee$0 p.a. annual fee for the first year ($29 p.a. thereafter)
Interest Free Period55 days
Cash advance rate (p.a.)21.24% p.a.
Min 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


  • 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.


  • 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 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. You can get your credit score and copy of your comprehensive credit report for free through Finder.

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.
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