CommBank Low Rate Gold

Get a variable interest rate of 13.24% p.a. on purchases and gold perks – including $200 cashback.

The Commonwealth Bank Low Rate Gold credit card offers a competitive variable purchase rate, up to 55 days interest-free on purchases and $200 cashback until 31 July 2019.

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

Details

Product NameCommonwealth Bank Low Rate Gold Credit Card
Balance Transfer Rate5.99% for 5 months
Balance Transfer Revert RateCash Advance Rate (21.24% p.a.)
Purchase Rate13.24% p.a.
Annual Fee$89
Interest Free Period55 days
Cash Advance Rate21.24% p.a.
Minimum Credit Limit$4,000
Card TypeMastercard
Foreign Currency Conversion Fee (Visa/Mastercard)3% of transaction value
Complimentary Travel InsuranceYes
Minimum Age18 years of age
Available to Temporary ResidentsYes - Conditions apply
Joint ApplicationNo

Pros

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

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 3% of transaction value foreign transaction fee.
Annual Fee$89
Minimum Monthly Repayment2% of transaction value or $25, whichever is greater
Late Payment Fee$20
Foreign Currency Conversion Fee (Visa/Mastercard)3% of transaction value
Cash Advance Fee3% 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 Cardholders1

Expert review

Amy Bradney-George

Review by


Amy is an editor and writer at finder.com.au with more than 10 years experience covering credit cards, personal finance and various lifestyle topics. When she’s not sharing her knowledge on money matters, Amy spends her time as an actress.

Expert review

The CommBank Low Rate Gold offers a mix of low-cost credit card features and handy complimentary extras. The crown of these gold perks is included international travel insurance. Unlike most credit card travel insurance, there is no spending requirement for this cover – you just need to activate it through NetBank or the CommBank app before you travel overseas (and meet the age, health and other requirements that are typical of most travel insurance policies).

How to apply

You can apply for the CommBank Low Rate Gold 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.
  • New cardholder. To be eligible for the $200 cashback offer you cannot hold or have held any CommBank Low Rate card in the last 12 months.

Card benefits

  • $200 cashback. When you apply by 31 July 2019 and spend at least $500 on eligible purchases with your new card before 31 October 2019, you will receive $200 back on your statement. It will be credited within 60 days of meeting the spend requirement.
  • Included travel insurance. This card gives you 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 activate it via NetBank, the CommBank app or by calling CoverMore on 1300 467 951 before travelling. Your spouse and dependent children can also get cover when they meet the eligibility requirements.

Rates & fees

  • Annual fee. The Commonwealth Bank Low Rate Gold credit card charges an annual fee of $89.
  • Purchase rate. The 13.24% p.a. variable rate for purchases can help you save on interest charges when compared to cards that have higher purchase rates.

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34 Comments

  1. Default Gravatar
    Ian
    April 10, 2018

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

    • AvatarStaff
      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

  2. Default Gravatar
    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?

    • AvatarStaff
      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

  3. Default Gravatar
    Ian
    April 18, 2017

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

    • AvatarStaff
      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

  4. Default Gravatar
    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

    • AvatarStaff
      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

  5. Default Gravatar
    Edna
    April 16, 2016

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

    • AvatarStaff
      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

  6. Default Gravatar
    Bill
    March 3, 2016

    Hey team, great work here.

    just wondering is there any real benefit in accepting an offer to upgrade to gold low rate apart from i can see travel insurance? is it really worth the bigger fee charged? if yes please help me understand what the benefits are on paying the extra fee.

    thank you

    • AvatarStaff
      Jonathan
      March 4, 2016

      Hi Bill, thanks for your inquiry!

      The main differences between the Gold Low Rate and Low Rate credit card are the following benefits included with the Gold Low Rate: complimentary travel insurance and free travel money card. Learn about the benefits of this complimentary insurance policy in this guide.

      Cheers,

      Jonathan

  7. Default Gravatar
    gerard
    June 3, 2015

    I wish to obtain details of the changes to the banks complimentary travel insurance. I put in the address as shown but no new information came up. Can you give me the correct web address please?

    Thanks

    • AvatarStaff
      Jonathan
      June 3, 2015

      Hi Gerard, thanks for your inquiry!

      Please refer to the attachment I have sent to your email address for the latest PDF version of the Commonwealth Bank’s complimentary travel insurance policy.

      Cheers,

      Jonathan

  8. Default Gravatar
    peteratbarry
    May 11, 2015

    I am a former customer of Commonwealth Bank and I believe I had a good credit rating. If I were to apply for a Gold low rate Mastercard, would the fact that I am a former customer be an advantage when the Bank considers my application ?

    • AvatarStaff
      Jonathan
      May 13, 2015

      Hi Peteratbarry, thanks for your inquiry!

      Existing customers of banks can receive certain benefits such as shorter application processes, discounted annual fees and special interest rates. Please refer to the following page for an existing customer credit cards comparison for CBA.

      Cheers,

      Jonathan

  9. Default Gravatar
    Gill
    January 6, 2015

    Re Credit Card with Free Travel Insurance
    Who are the Underwriters please and where can I
    read about the details of the Travel Insurance?

    Regards,

    Gill

    • AvatarStaff
      Elizabeth
      January 7, 2015

      Hi Gill,

      Thanks for your question.

      Allianz are the underwriters of this insurance and you can read further details about it on Commonwealth Bank’s website. I’ve emailed you a link to the relevant page.

      Thanks,

      Elizabeth

  10. Default Gravatar
    rob
    February 24, 2014

    Can I up grade my Low Rate Master Card to an Awards card?

    • AvatarStaff
      Jacob
      February 24, 2014

      Hi, Rob.

      You can close your old account and apply for an Awards card as a new customer through the applications links provided on our site, or you can contact the Commonwealth Bank directly to see if they can offer you a deal as an existing customer.

      Thanks for your question.

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