The CommBank Low Rate Card gives you a way to save on interest costs and put money back in your pocket with this introductory offer. If you apply by 29 February 2024, you’ll pay 0% interest on purchases made in the first 6 months – and can get $100 cashback each month when you spend $500 or more for the first 3 months (up to $300 cashback).
CommBank Low Rate Card
- Purchase rate for the first 6 months (reverts to 13.99%)
- 0% p.a.
- Annual fee
- $72 p.a.
- Interest-free on purchases
- Up to 55 days
0% p.a. interest rate for 6 months on purchases
Up to $300 cashback
Lock, block and limit transaction controls through the CommBank app or NetBank
Mobile payments with Apple Pay, Google Pay, Samsung Pay, Fitbit Pay and Garmin Pay
3.5% international transaction fee
No rewards or included insurance
|Product Name||CommBank Low Rate Credit Card|
|Purchase rate p.a.||0% for 6 months, then 13.99%|
|Interest-free period||Up to 55 days on purchases|
|Cash advance rate p.a.||21.99%|
|Min credit limit||$500|
|Available to temporary residents||Yes - Conditions apply|
|Minimum monthly repayment||2% of the closing balance or $25, whichever is greater|
|Late payment fee||$20|
|Foreign currency conversion fee||3.5%|
|Cash advance fee||3% or $4, whichever is greater|
|Overseas cash advance fee||$4 or 3% of transaction value, whichever is greater|
|Additional cardholder fee||$0|
|Number of additional cardholders||1|
How to apply
You can apply for the CommBank Low Rate credit card online. Before you get started, check if you meet the eligibility criteria and that you have the key details and documents needed to complete your application.
- Age. You must be at least 18 years old to apply.
- Residency and work status. You must have the right to work in Australia.
- Credit history. You'll need to 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.
- Personal information. This includes your full name, date of birth, residential address, contact information, marital status and number of financial dependents.
- Proof of identification. You'll be asked to verify your identity with your Australian drivers licence, passport or Medicare card.
- Income and employment. Confirm your current employment and annual income, plus provide recent payslips.
- Finances. This includes any assets such as savings or investments and any liabilities including existing debts or loans.
- Visa. If you're a temporary resident, you'll need to provide your visa details.
- 0% purchase rate offer. Apply by 29 February 2024 and you can save with a 0% p.a. interest rate on purchases for the first 6 months. At the end of the introductory period, the card's 13.99% p.a. variable purchase rate applies. Note that you'll still need to pay at least the minimum amount on each statement during the 0% p.a. introductory period.
- Up to $300 cashback. This card offers $100 cashback each month when you apply by 29 February 2024, get approved and spend $500 or more on eligible purchases for the first 3 months. Eligible purchases cover most everyday spending but exclude cash advances and account fees.
- Lock, block and limit your account. If your card is lost or stolen, you can place a temporary lock on the account to protect your finances. You can also lock your card from making transactions such as international payments or ATM cash advances to avoid extra card costs. To keep your spending in check, you can set limit spend per transaction and spending caps on your account.
- Mobile wallets. You can link your account with Apple Pay, Samsung Pay or Google Pay to use your smartphone to tap and pay. You can also use Fitbit Pay or Garmin Pay to make contactless payments with your fitness tracker.
- Emergency assistance overseas. If your card is lost, damaged or stolen, you can take advantage of 24/7 emergency overseas assistance with Mastercard Global Service.
Rates & fees
- Monthly fee. The CommBank Low Rate credit card charges a monthly fee of $6. This could add up to a total of $72 per year.
- Purchase rate. Outside of any promotions, this card charges a 13.99% p.a. variable interest rate for purchases.
- Interest-free days. If you pay your balance in full by the statement due date, you can take advantage of up to 55 interest-free days on purchases.
- Cash advances. If you use your card for cash advances, such as ATM withdrawals, you'll attract the 21.99% p.a. interest rate and be charged the cash advance fee of 2% or $25, whichever is greater.
- International transaction fees. If you use this card to spend overseas or shop online with an international merchant, you'll be charged a 3.5% international transaction fee.
- Credit limit. You can request a credit limit as low as $500.
You are about to post a question on finder.com.au:
- Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
- finder.com.au is a financial comparison and information service, not a bank or product provider
- We cannot provide you with personal advice or recommendations
- Your answer might already be waiting – check previous questions below to see if yours has already been asked
June 06, 2023
I am retired and on a pension can i obtain a credit card?
August 23, 2019
How long must you be employed to qualify?
August 24, 2019
Hi J Kang,
Thank you for getting in touch with Finder.
It did not indicate the length of required employment, however if you’ve just started a new full-time job, you need to provide proof of at least 12 months income of your previous employment.
I hope this helps.
Thank you and have a wonderful day!
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January 29, 2018
What are eligible purchases?
February 07, 2018
Thanks for leaving a question on finder.
Eligible purchases are generally defined as everyday purchases which involve the exchange of a good or service for a payment. Transactions that do not qualify as eligible purchases generally include balance transfers, cash advances and any purchase that is reversed or refunded
I hope it helps.
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December 12, 2017
I just want to know, on commonwealth low rate credit card there is an offer of 300 cash back after spending 1000 within 90 days. So my question is if i buy electronic device like laptop mobile phone the offer is still there or it is on some particular type of shopping
Harold Jacob Finder
December 13, 2017
Thank you for your inquiry.
You can get the cashback offer if you can meet the eligible purchases include BPAY transactions and payments to the ATO but excludes balance transfers and cash advances.
I hope this information has helped.
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June 24, 2017
What is the lowest annual income rate to eligible for the credit card? I am working as casual so am I eligible? Thanks.
June 24, 2017
There is no specific annual income and employment type in their application form or in the website. However, most card issuers are looking at $15,000 or better. To learn more, you can read more about the credit card minimum income requirements for application.
You can contact your card issuer for this matter.
Hope this helps.
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