Commonwealth Bank Low Fee Gold Credit Card
Save with a $0 first year annual fee and $0 international transaction fees with the Commonwealth Bank Low Fee Gold Card.
The Commonwealth Bank Low Fee Gold credit card combines cost-saving offers with platinum features.
You’ll save with a $0 annual fee for the first year, which reverts to $89 p.a. after that. Cardholders can take advantage of included travel and purchase insurances and up to 55 interest-free days on purchases.
Balance transfer rate
for 5 months
for the first year ($89 p.a. thereafter)
Interest free period
|Product Name||Commonwealth Bank Low Fee Gold 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.|
|Interest Free Period||55 days|
|Cash Advance Rate||21.24% p.a.|
|Minimum Credit Limit||$4,000|
|Foreign Currency Conversion Fee (Visa/Mastercard)||0%|
|Complimentary Travel Insurance||Yes|
|Minimum Age||18 years of age|
|Available to Temporary Residents||Yes - Conditions apply|
- Save with a $0 annual fee for the first year, reverting to $89 thereafter. Continue to have the annual fee waived for subsequent years if you spend $10,000 or more in the previous year.
- Get coverage from extended warranty insurance, purchase insurance and included travel insurance for trips of up to 3 months.
- There is no rewards program linked to this card, which is usually a standard feature included with Gold tier credit cards.
|Minimum Monthly Repayment||2% of the closing balance or $25, whichever is greater|
|Late Payment Fee||$20|
|Foreign Currency Conversion Fee (Visa/Mastercard)||0%|
|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|
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.
How to apply
You can apply for the Commonwealth Bank Low Fee Gold credit card online in minutes and receive a response instantly. Before you do, check if you meet the eligibility requirements and have the necessary information to complete the application.
- Age. You must be at least 18 years old to apply.
- Residency. This card is available to permanent and temporary Australian residents as long as you're legally allowed to work in Australia.
- Credit history. You must have a good credit score with no current bankruptcies to receive approval.
- Personal information. This includes your full name, date of birth, contact information, residential address, marital status and number of financial dependents.
- Proof of identification. You'll need to verify your identity with your drivers licence, passport, Medicare card or another form of identification.
- Income and employment. Confirm your current employment and annual income. You may need to provide recent payslips to prove your income.
- Finances. This includes any assets, such as savings and investments as well as any liabilities like existing debts or loans.
- Visa details. If you're not a permanent resident, you may need to provide information about the type of Visa you're on.
- Annual fee. This card charges no annual fee in the first year and $89 p.a. thereafter. The standard annual fee will be waived if you spend $10,000 on purchases and cash advances in the previous year.
- $0 international transaction fees. Save with 0% international transaction fees when you use your card to spend overseas or shop online with an international merchant.
- Included travel insurance. You'll be covered for overseas medical, lost luggage and travel cards, baggage delay and more with this international travel insurance. The cover protects you, your spouse and dependent children travelling with you. You can activate your insurance through NetBank or the CommBank app.
- Purchase insurance. You can shop with peace of mind with extended warranty cover and other included purchase covers on lost, stolen or damaged items bought with the card.
- Mobile contactless payments. You can link your account with Apple Pay, Samsung Pay and Google Pay to tap and pay with your smartphone. You can also use your fitness tracker to make contactless payments with Fitbit Pay and Garmin Pay.
- Account management. You can set transaction limits, lock international transactions and cash advances through NetBank or the CommBank app.
- Mastercard perks. Take advantage of exclusive offers and discounts on entertainment and travel experiences through Mastercard Priceless Cities.
- Security. Your account is monitored by 24 hour fraud protection to detect any abnormal transactions and you'll be protected against fraud with Mastercard Zero Liability. If your card is lost or stolen, you can contact the 24/7 emergency Mastercard Global Service team for assistance.
Rates & fees
- Purchase interest rate. This card charges a 19.74% p.a. purchase interest rate.
- Interest-free days. If you pay your balance in full by the statement due date, you can save with up to 55 days interest-free on purchases.
- Cash advances. If you use your card for cash advances, such as ATM withdrawals, money transfers or gambling transactions, you'll be charged the 21.24% p.a. cash advance interest rate and the cash advance fee of $3 or 3% of transaction value, whichever is greater.
- Balance transfers. If you're paying off an existing debt, you'll pay 5.99% p.a. interest on balance transfers for the first 5 months. The cash advance interest rate applies to any balance transfer debt thereafter.
- Additional cardholders. You can link a supplementary cardholder to the account for no extra fee.