Commonwealth Bank Low Rate Card
Save with a low purchase interest rate, a competitive annual fee and up to 55 interest-free days with the Commonwealth Bank Low Rate card.
This card charges a low purchase interest rate of 13.24% p.a. and a $59 annual fee. You can also repay existing debt with an introductory 5.99% p.a. on balance transfers for 5 months. You can also keep your spending in check with a low minimum credit limit and the option to set spending caps.
5.99% p.a.
Balance transfer rate
for 5 months
13.24% p.a.
Purchase rate
$59 p.a.
Annual fee
55 days
Interest free period
Details
| Product Name | Commonwealth Bank Low Rate 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 | 13.24% p.a. |
| Annual Fee | $59 |
| Interest Free Period | 55 days |
| Cash Advance Rate | 21.24% p.a. |
| Minimum Credit Limit | $500 |
| Card Type | Mastercard |
| Foreign Currency Conversion Fee (Visa/Mastercard) | 3% of transaction value |
| Complimentary Travel Insurance | No |
| Minimum Age | 18 years of age |
|---|---|
| Available to Temporary Residents | Yes - Conditions apply |
| Joint Application | No |
Pros
- Low interest rate of 13.24% p.a. on purchases
- Competitive $59 annual fee
Cons
- Balance transfer reverts to 21.24% p.a. after the introductory period.
| Annual Fee | $59 |
|---|---|
| Minimum Monthly Repayment | 2% 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 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 |
Expert review
Review by
Sally McMullen
sally.mcmullen@finder.com.auSally 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.
