Commonwealth Bank Low Rate Card
Last updated:
Save with a low purchase interest rate, a competitive annual fee and score up to $100 cashback per month for the first three months.
This card charges a low purchase interest rate of 13.24% p.a. and a $59 annual fee. You can 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 (p.a.) | 13.24% p.a. |
| Annual fee | $59 p.a. |
| Interest free period | 55 days |
| Cash advance rate (p.a.) | 21.24% p.a. |
| Min credit limit | $500 |
| Card type | Mastercard |
| Foreign currency conversion fee (Visa/Mastercard) | 3% |
| Complimentary travel insurance | No |
| Minimum age | 18 years of age |
|---|---|
| Available to temporary residents | Yes - Conditions apply |
| Joint application | No |
Pros
- 5% cashback (capped at $100 per month) on eligible purchases for the first 3 months
- Low interest rate of 13.24% p.a. on purchases
- Competitive $59 annual fee
Cons
- Balance transfers attract a rate of 5.99% p.a. for only 5 months
- International transaction fee of 3% applies
| Annual fee | $59 p.a. |
|---|---|
| Minimum monthly repayment | 2% of the closing balance or $25, whichever is greater |
| Late payment fee | $20 |
| Foreign currency conversion fee (Visa/Mastercard) | 3% |
| 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.
