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.
Balance transfer rate
for 5 months
Interest free period
|Product Name||CommBank Low Rate Gold 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.|
|Interest-free period||Up to 55 days on purchases|
|Cash advance rate||21.24% p.a.|
|Min credit limit||$4,000|
|Foreign currency conversion fee||3%|
|Available to temporary residents||Yes - Conditions apply|
- 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
- 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%
|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|
Amy Bradney-George has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. Her work has also appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University.
How to applyYou 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.
- 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.
- 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.
- 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.