CommBank Low Fee Gold credit card review | Finder

CommBank Low Fee Gold Credit Card

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Enjoy a $200 cashback offer and 0% international transaction fees when you shop overseas or online.

The CommBank Low Fee Gold Credit Card offers $200 cashback when you apply by 30 June 2021and spend $1,000 on eligible purchases by 30 September 2021. You can also take advantage of up to 55 interest-free days on purchases if you pay your balance in full by the due date on each statement.

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 ($89 p.a. thereafter)

55 days

Interest free period

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Details

Product NameCommBank Low Fee Gold 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$0 annual fee for the first year ($89 p.a. thereafter)
Interest-free periodUp to 55 days on purchases
Cash advance rate21.24% p.a.
Min credit limit$4,000
Card typeMastercard
Foreign currency conversion fee0%
Available to temporary residentsYes - Conditions apply
Joint applicationNo

Pros

  • $200 cashback
  • $0 annual fee in the first year and subsequent years when you spend at least $10,000 in the previous year
  • 0% foreign transaction fees on purchases made both online and overseas
  • Included travel insurance, extended warranty insurance and purchase security insurance

Cons

  • There is no rewards program linked to this card, which is usually a standard feature included with gold-tier credit cards
  • The standard 19.74% p.a. purchase rate is relatively high
Bonus pointsN/A
Annual fee$0 annual fee for the first year ($89 p.a. thereafter)
Minimum monthly repayment2% of the closing balance or $25, whichever is greater
Late payment fee$20
Foreign currency conversion fee0%
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

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Review by


Amy Bradney-George has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. Her work has also appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University.

Expert review

The CommBank Low Fee Gold card is one of few cards that has an annual fee waiver each year when you spend $10,000 in the previous year. You can also get extra value in the first year with the $200 cashback offer.

How to apply

You can apply for the CommBank Low Fee Gold credit card online in few 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.

Eligibility criteria

  • Residency and work status. You must have the right to work in Australia.
  • Eligible balance transfer debt. If you plan to transfer a balance, it must be from a non-CommonBank account.

Card benefits

  • $200 cashback. Apply for the CommBank Low Fee Gold Credit Card by 30 June 2021 and spend $1,000 on eligible purchases by 30 September 2021 to take advantage of this cashback offer.
  • Annual fee. This card charges $0 annual fee for the first year and $89 p.a. thereafter. The standard annual fee will be waived if you spend $10,000 or more on purchases and cash advances in the previous year.

Rates & fees

  • Purchase interest rate. This card charges a 19.74% p.a. variable interest rate for purchases.
  • Interest-free days. You can save with up to 55 days interest-free on purchases when you pay your balance in full by the statement due date.

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32 Comments

    Default Gravatar
    Tony
    May 29, 2019

    I need more information about travel insurance,all inclusions,thanks

      Default Gravatar
      Bella
      May 30, 2019

      Hi Tony,

      Thanks for your inquiry.

      To see the coverage inclusions of Travel insurance of Commonwealth Bank Low Fee Gold Credit Card, please carefully read their Product Disclosure Statement (PDS).

      I hope this helps.

      Kind regards,
      Bella

    Default Gravatar
    Carolyn
    February 4, 2017

    Hi, does this card accrue reward points? If not, can you recommend a low annual fee card that does?

      Avatarfinder Customer Care
      May
      February 5, 2017

      Hi Carolyn,

      Thanks for your question.

      Unfortunately, this Commonwealth Bank Low Fee Gold Credit Card does not let you earn rewards points when you spend. The no annual fee credit cards that have rewards programs are listed on our guide about no annual fee rewards credit cards.

      Hope this helps.

      Cheers,
      May

    Default Gravatar
    CHARLIE
    January 4, 2017

    yes looking for a credit card that i can use for every day spending plus send money over seas

      Avatarfinder Customer Care
      Dee
      January 4, 2017

      Hi Charlie,

      Thanks for reaching out.

      Most credit cards that we feature on our pages can be use for everyday spending and sending money overseas. However, please note that when you use a credit card for money transfer, some providers will charge you a higher fee.

      Also, please check our comprehensive credit card guide to help you identify the type of credit card that is suitable for your needs.

      Cheers,
      Anndy

    Default Gravatar
    Kathy
    December 1, 2015

    I have a Commonwealth Bank Gold credit card. I will be renting a car Interstate (within Australia). Is the rental car “excess” covered? If not…is it covered if I upgrade to Platinum?

      Avatarfinder Customer Care
      Jonathan
      December 1, 2015

      Hi Kathy,

      Thanks for your inquiry!

      The insurance policy from Commonwealth Bank only provides Interstate Flight Inconvenience Insurance for interstate cover. You may have to get a domestic travel insurance that offer different levels of car hire excess insurance as part of their travel insurance policies. Compare insurance brands from our table and select ‘Get Quote’ to head over to their website.

      Please make sure to read the eligibility criteria, features and details of the policy, as well as the relevant Product Disclosure Statement of the policy before making a decision and consider whether the product is right for you. If necessary, speak to the insurance brand to verify any details.

      Cheers,
      Jonathan

    Default Gravatar
    emma
    September 17, 2015

    We have paid the airfare yesterday for a trip in November. If we apply the Commonwealth Gold credit card now, will the complimentary travel insurance cover the trip that was already paid? We have not made bookings on hotels yet.

      Avatarfinder Customer Care
      Jonathan
      September 17, 2015

      Hi Emma, thanks for your inquiry!

      You will be covered under this travel insurance policy provided you have a Gold, Platinum or Diamond card. Please refer to our Commonwealth Bank complimentary insurance guide for more information on how to apply for the full cover and what features are included in this policy.

      Cheers,
      Jonathan

    Default Gravatar
    Mick
    July 26, 2015

    How do I apply for a card?

      Avatarfinder Customer Care
      Jonathan
      July 27, 2015

      Hi Mick,

      Thanks for your inquiry!

      You can apply by comparing a range of credit cards based on your credit needs and explore some offers. When you have found a card that suits your preferences, click the ‘Go to Site’ button and you will be redirected to the respective bank’s website to apply for the card. Please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before you apply.

      Cheers,
      Jonathan

    Default Gravatar
    MARK
    July 2, 2015

    How do I upgrade my Visa card to gold, what is applicable fee and how soon can I use it for purchases?

      Avatarfinder Customer Care
      Sally
      July 2, 2015

      Hi Mark,

      Thanks for your comment.

      You will need to either contact CommBank over the phone or complete a request form and submit it at a Commonwealth Bank branch to upgrade your card.

      If your upgrade request is approved, they will send you a letter of offer and your card within 10 working days. Once the card is activated, your old credit card account will be closed and you should be able to use the new card immediately.

      Any direct debits and regular payments will not be automatically transferred over to your new card, you will need to do this.

      I’ve emailed you a link you the relevant CommBank page for your perusal.

      I hope this has helped.

      Thanks,

      Sally

    Default Gravatar
    ken
    May 24, 2015

    Where can I find out what I can buy with my Award points? Ie how many points are needed to buy which products. I am a CBA customer, but don’t have an Awards credit card.

      Avatarfinder Customer Care
      Elizabeth
      May 25, 2015

      Hi Ken,

      Thanks for your question.

      If you have an Awards points balance, you will be able to see this in Netbank and see what is available for you to redeem, or also via your CommBank app. You can find out what rewards are available for redemption on our guide to the CommBank credit cards.

      I hope this has helped.

      Thanks,
      Elizabeth

    Default Gravatar
    James
    March 3, 2015

    What rewards system does this card have? What value is each reward and how would they be redeemed?

      Avatarfinder Customer Care
      Jonathan
      March 3, 2015

      Hi James,

      Thanks for your inquiry.

      You can redeem for rewards with CBA’s Awards program or Qantas Frequent Flyer. Please refer to our guide on the Commonwealth Bank rewards for more information. Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.

      Cheers,
      Jonathan

    Default Gravatar
    Dilsie
    April 30, 2014

    Is my husband covered for a trip to Bali if the trip is paid for with my card, I am not going.
    Thank you
    Dilsie

      Avatarfinder Customer Care
      Shirley
      May 1, 2014

      Hi Dilsie,

      Thanks for your question.

      Your spouse and dependent children are only covered if they travel with you on the entire journey and share the same itinerary with you.

      Cheers,
      Shirley

      Default Gravatar
      Dilsie
      May 1, 2014

      Thank you for your prompt reply, I will purchase travel insurance for him

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