CommBank Low Rate Gold credit card

Get a 13.24% p.a. variable rate for purchases and included travel insurance with the CommBank Low Rate Gold Credit Card.

The CommBank Low Rate Gold credit card has a competitive 13.24% p.a. variable rate for purchases and offers up to 55 interest-free days on purchases if you pay closing balance in full by the due date on each statement.

It also gives you access to included international travel insurance that you can activate through NetBank or the CommBank app before going overseas, plus insurance covers for eligible purchases.

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Amy Bradney-George

Last Updated Jan 21, 2021

5.99% p.a.

Balance transfer rate

for 5 months

13.24% p.a.

Purchase rate

$89 p.a.

Annual fee

55 days

Interest free period

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Details

Product Name	CommBank Low Rate Gold Credit Card
Balance transfer rate p.a.	5.99% for 5 months
Balance transfer revert rate	Cash Advance Rate (21.24% p.a.)
Purchase rate p.a.	13.24%
Annual fee	$89
Interest-free period	Up to 55 days on purchases
Cash advance rate	21.24% p.a.
Min credit limit	$4,000
Card type	Mastercard
Foreign currency conversion fee	3%

Available to temporary residents	Yes - Conditions apply
Joint application	No

Pros

Low 13.24% p.a. purchase interest rate
Included travel insurance, extended warranty and purchase security insurance covers
Balance transfer rate of 5.99% p.a. for 5 months

Cons

No rewards program is offered which is usually a standard feature of gold-tier credit cards
Using this card overseas or with international merchants incurs a fee of 3%

Bonus points	N/A

Annual fee	$89
Minimum monthly repayment	2% of the closing balance or $25, whichever is greater
Late payment fee	$20
Foreign currency conversion fee	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

Review by

Amy Bradney-George

amy.bradney-george@finder.com

Amy has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. She is also the editorial lead for Finder Green, covering sustainability across different industries. Her work has appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy also has a Bachelor of Arts in Journalism and Drama from Griffith University.

Expert review

The CommBank Low Rate Gold offers a mix of low-cost credit card features and handy complimentary extras. Its current 13.24% p.a. variable purchase rate is competitive with low rate cards from other major banks in Australia – although it is still worth comparing other low rate cards if that’s your priority. If you're planning to travel in the future, this card has included travel insurance that you can activate through NetBank or the CommBank app before you travel overseas, you just need to meet the age, health and other requirements that are typical of most travel insurance policies.

This card also gives you access to extended warranty cover and purchase security insurance for eligible items bought with the card. Using a few or all of these extras could also help you justify the card’s $89 annual fee.

How to apply

You can apply for the CommBank Low Rate Gold credit card online by filling out a secure application form. Get started by checking that you meet the following eligibility criteria and have all the documents and details you need to complete your 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-Commonwealth Bank account.

Age. You must be at least 18 years old to apply.
Bankruptcy status. You must not be currently bankrupt. You can get your credit score and copy of your comprehensive credit report for free through Finder.

Required documents

Personal details. This includes your full name, date of birth, email address, phone number and residential address. You also need to provide a valid form of ID, such as your driver's licence.
Employment details. This covers your employment status, salary and your employer or accountant's contact details. You may also need to include recent payslips or other proof of your income.
Financial details. This includes any other forms of income, such as government payments, as well as savings and other assets. You may also need to provide details of any money you owe, other liabilities and your share of regular household expenses.
Balance transfer information. If you are transferring a balance, you will need to provide the amount as well as the account numbers from which you are requesting the transfer.

Card benefits

Included travel insurance. Get access to international travel insurance, which offers cover for medical emergencies, lost/stolen/damaged luggage, expenses arising from unexpected delays and much more. This comprehensive cover is available when you meet the eligibility requirements and activate it via NetBank, the CommBank app or by calling Cover-More on 1300 467 951 before travelling. Your spouse and dependent children can also get cover when they meet the eligibility requirements.
Extended warranty and purchase protection insurance. You also get extended warranty insurance and purchase protection insurance for eligible items bought with this card.

Balance transfer rate. If you're a new customer, you can take advantage of a balance transfer rate of 5.99% p.a. for the first 5 months with no balance transfer fee. After this introductory period has ended, the balance transfer rate will revert to the cash advance rate of 21.24% p.a.
Lock, block and limit. This unique benefit allows you to set your own terms for how the credit card is used. By accessing the CommBank app or NetBank, you can lock international payments, block ATM cash advances and set a limit for your spending.
Mobile payment compatibility. This Commonwealth Bank credit card gives you the option of using your eligible smartphone or wearable device to make contactless payments with Apple Pay, Samsung Pay, Google Pay, Fitbit Pay and Garmin Pay.
Mastercard Priceless Cities. Get access to exclusive travel, shopping and retail offers around the world through the Priceless Cities website.

Rates & fees

Annual fee. The CommBank Low Rate Gold credit card charges an annual fee of $89.
Purchase rate. This card charges a 13.24% p.a. variable interest rate on purchases.

Interest-free period. After the introductory purchase rate promotion has ended, you will be eligible for up to 55 interest-free days on purchases, provided you've paid your previous closing balance in full.
Cash advances. If you use this card to withdraw cash or make other cash advance transactions, an interest rate of 21.24% p.a. applies from the day the transaction is made. You will also be charged a fee of $3 or 3% of transaction value, whichever is greater.
$0 additional card. You can apply for 1 supplementary card for a family member or partner at no extra cost.
International transaction fee. A fee of 3% applies for transactions made in a foreign currency. This fee also applies to transactions made in Australian dollars when you are overseas or shopping online with a merchant that processes payments overseas.

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34 Comments

Ian
April 10, 2018

I wish to convert my existing comm bank card to a low interest card with comm bank.

Reply
- finder Customer Care
  
  Jeni
  April 10, 2018
  
  Hi Ian,
  
  Thank you for getting in touch with finder.
  
  As a friendly reminder, while we do not represent any company we feature on our pages, we can offer you general advice. You have to contact CommBank directly regarding your request of converting your existing card to a new CommBank Low Rate Gold credit card.
  
  Basically, credit card companies are not converting or upgrading a certain credit card. They close the existing card and you can proceed with your application for a new one.
  
  In some instances, customers usually wait for the new card to arrive before they cancel the old/existing credit card.
  
  I hope this helps.
  
  Have a great day!
  
  Cheers,
  Jeni
  
  Reply
Bob
July 27, 2017

Thinking of getting cba gold card for $89. will this cover my travel insurance and golf clubs flying to Hobart for a week of golf?

Reply
- finder Customer Care
  
  Harold
  July 28, 2017
  
  Hi Bob,
  
  Thank you for your inquiry.
  
  Yes, eligible cardholders can also take advantage of included international travel insurance. Cardholders need to activate the included travel insurance via NetBank or by calling CommBank before travelling to be eligible for full travel insurance cover. The travel insurance policy offers coverage for medical emergencies, lost/stolen/damaged luggage, expenses arising from unexpected delays and much more. This covers the cardholder, and his or her eligible spouse and dependent children so long as they also meet the eligibility requirements. You also get an extended warranty insurance and purchase protection insurance for eligible items bought with this card. Refer to the CommBank Credit Card Insurances booklet available on the CommBank website for full details.
  
  I hope this information has helped.
  
  Cheers,
  Harold
  
  Reply
Ian
April 18, 2017

How do i get 55days interest free if the balance is paid in full each month?

Reply
- finder Customer Care
  
  Harold
  April 19, 2017
  
  Hi Ian,
  
  Thank you for your inquiry.
  
  The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
  
  I hope this information has helped.
  
  Cheers,
  Harold
  
  Reply
hassan
August 15, 2016

Hi. i applied for this low rate gold credit card on 12.8.2016.and da application is done.can you tell me in how many days i receive my gold credit card. Thanks

Reply
- finder Customer Care
  
  Dee
  August 15, 2016
  
  Hi Hassan,
  
  Thanks for your question.
  
  After your credit card application has been approved, you will typically receive your Commonwealth Bank credit card within 10 working days. You can then activate it via NetBank, in a branch or by calling 13 22 21.
  
  Cheers,
  Anndy
  
  Reply
Edna
April 16, 2016

Does the card cover pre-existing medical condition such as a Cardiac Condition?

Reply
- finder Customer Care
  
  May
  April 16, 2016
  
  Hi Edna,
  
  Thanks for your question.
  
  As stated in the Commonwealth Bank Credit Card Insurances PDS, a history of cardiovascular disease, and it is a pre-existing medical condition, cover for these conditions is excluded. For your reference, I have sent to your email the link of the PDS.
  
  Cheers,
  May
  
  Reply

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CommBank Low Rate Gold credit card