Commonwealth Bank Low Fee Gold Credit Card

Save with a 0% interest rate on purchases for 15 months, $0 first year annual fee and 0% international transaction fees.

The Commonwealth Bank Low Fee Gold credit card offers 0% p.a. interest on purchases for the first 15 months when you apply by 29 February 2020. After that, the interest rate reverts to 19.74% p.a. and the standard interest-free period is up to 55 days on purchases.

5.99% p.a.

Balance transfer rate

for 5 months

0% p.a.

Purchase rate

for the first 15 months (reverts to 19.74% p.a.)

$0 p.a.

Annual fee

for the first year ($89 p.a. thereafter)

55 days

Interest free period

Details

Product NameCommonwealth Bank Low Fee Gold Credit Card
Balance transfer rate5.99% p.a. for 5 months
Balance Transfer Revert RateCash Advance Rate (21.24% p.a.)
Balance Transfer Limit90% of available balance
Purchase rate (p.a.)0% for 15 months, reverts to 19.74% p.a.
Annual fee$0 p.a. annual fee for the first year ($89 p.a. thereafter)
Interest Free Period55 days
Cash advance rate (p.a.)21.24% p.a.
Min credit limit$4,000
Card TypeMastercard
Foreign Currency Conversion Fee (Visa/Mastercard)0%
Complimentary Travel InsuranceYes
Minimum Age18 years of age
Available to Temporary ResidentsYes - Conditions apply
Joint ApplicationNo

Pros

  • 0% p.a. on purchases for the first 15 months
  • $0 annual fee for the first year ($89 thereafter). Continue to have the annual fee waived when you spend $10,000 or more in the previous year
  • Extended warranty insurance, purchase insurance and included travel insurance for trips of up to 3 months

Cons

  • There is no rewards program linked to this card, which is usually a standard feature included with gold-tier credit cards
  • The regular 19.74% p.a. purchase rate is relatively high
Annual fee$0 p.a. 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 Fee (Visa/Mastercard)0%
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 Gold card is one of few cards that offers both a $0 first year annual fee and an interest-free purchase promotion. Additionally, when you spend $10,000 within the previous year, the annual fee will continue to be waived.

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.

Eligibility criteria

  • Residency. This card is available to permanent and temporary Australian residents as long as you're legally allowed to work in Australia.
  • Eligible balance transfer debt. If you plan to transfer a balance, it must be from a non-Commonwealth Bank account.

Card benefits

  • 0% purchase rate offer. You can save with a 0% p.a. interest rate on purchases for the first 15 months when you apply by 29 February 2020 and get approved. After the introductory period, any unpaid balance is charged interest at the variable purchase rate of 19.74% p.a. Please note that minimum monthly repayments are still required.
  • Annual fee. This card charges no 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 in the previous year.

Rates & fees

  • Purchase interest rate. Outside of any promotions, this card charges a 19.74% p.a. purchase interest rate.
  • Interest-free days. After the introductory purchase rate promotion is over, when you pay your balance in full by the statement due date, you can save with up to 55 days interest-free on purchases.

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32 Comments

  1. Default Gravatar
    Tony
    May 29, 2019

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

    • Avatarfinder Customer Care
      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

  2. 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 this page.

      Hope this helps.

      Cheers,
      May

  3. 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

  4. 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!

      Unfortunately the insurance policy from Commonwealth Bank only provides Interstate Flight Inconvenience Insurance for interstate cover. You can compare domestic insurance cover policies on this page.

      Cheers,

      Jonathan

  5. 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

  6. 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 compare credit cards on this page. 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 web-form to apply for the card.

      Cheers,

      Jonathan

  7. 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

  8. 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’ll 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 this page.

      I hope this has helped.

      Thanks,

      Elizabeth

  9. 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!

      For more information on Commonwealth Bank Rewards please see this page.

      Cheers,

      Jonathan

  10. 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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