The Commonwealth Bank Low Rate Gold offers a low ongoing interest rate on purchases with gold-tier benefits, including international travel insurance.
The CommBank Low Rate Gold credit card is packed with features and benefits that can make managing your finances easier. Enjoy a competitive low interest rate on purchases and receive up to 55 interest-free days on purchases when you pay the full closing balance by the due date. This card gives you access to other perks as well, such as included insurance covers and an introductory balance transfer offer, with a standard annual fee of $89.
|Product Name||Commonwealth Bank Low Rate Gold Credit Card|
|Balance transfer rate (p.a.)||5.99% p.a. for 5 months|
|Balance Transfer Revert Rate|
The interest rate after the balance transfer ends.
|Cash Advance Rate (21.24% p.a.)|
|Maximum Balance Transfer Amount||Up to remaining credit limit|
|Purchase rate (p.a.)||13.24% p.a.|
|Annual fee||$89 p.a.|
|Interest Free Period|
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.
|Up to 55 days on purchases|
|Cash advance rate (p.a.)||21.24% p.a.|
|Min credit limit|
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
|Foreign Currency Conversion Fee (MC)|
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
|3% of transaction value|
|Complimentary Travel Insurance||Yes|
|Minimum Age||18 years of age|
|Available To Temporary Residents||Yes - Conditions apply|
|Credit Rating Requirement||Good|
|Annual fee||$89 p.a.|
|Minimum Monthly Repayment||2% or $25 whichever is greater|
|Late Payment Fee||$20|
|Cash Advance Fee||$2.50 or 2% of the transaction amount (whichever is greater)|
|Overseas Cash Advance Fee||$2.50 or 2% of the transaction amount (whichever is greater)|
|Overseas ATM Withdrawal Fee||$2.50 or 2.00% of the transaction amount up to a maximum of $150|
|Foreign Currency Conversion Fee|
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You'll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
|Gambling Transactions Allowed||Yes|
|Additional Cardholder Fee||$0|
|Number of Additional Cardholders||1|
- This card offers included travel insurance.
- Receive purchase insurance on eligible items bought with the card.
- Get up to 55 interest-free days on purchases when you pay your previous balance in full.
- This card has a competitive standard purchase rate of 13.24% p.a.
- No rewards program is offered which is usually a standard feature of Gold tier credit cards.
Commonwealth Bank Low Rate Gold credit card review
You can use the Commonwealth Bank Low Rate Gold credit card to save on credit card interest costs while also taking advantage of some competitive gold perks. The card comes with a purchase rate of 13.24% p.a., but you can take advantage of up to 55 interest-free days on purchases if you pay your balance in full each month. This card also comes with included travel insurance, purchase security insurance and extended warranty insurance.
Benefits of the Commonwealth Bank Low Rate Gold credit card
- Balance transfer rate. New customers can take advantage of a promotional balance transfer rate of 5.99% p.a. for the first 5 months. After this introductory rate has ended, the balance transfer rate will revert to the cash advance rate of 21.24% p.a.
- Included insurances. 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 their 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.
- 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.
- Travel Money Card fee waiver. If you present your CommBank Low Rate Gold credit card when purchasing a Travel Money Card you won't have to pay an issue fee. This card enables you to travel around the world, holding up to 13 currencies and making purchases without paying fees.
Features of the Commonwealth Bank Low Rate Gold credit card
- Annual fee. The Commonwealth Bank Low Rate Gold credit card charges an annual fee of $89.
- Purchase rate. The standard variable interest rate on purchases is 13.24% p.a.
- Cash advance rate. The standard variable cash advance rate is 21.24% p.a.
- $0 additional card. You can apply for 1 supplementary card for a family member or partner at no extra cost.
- Acceptance. This credit card can be used worldwide in more than 210 countries and over 2 million ATMs, wherever Mastercard is accepted.
How to apply for the Commonwealth Bank Low Rate Gold credit card
Applying for this credit card online is easy and usually takes less than 15 minutes. Before you apply, make sure you meet the following minimum eligibility requirements.
- You must be at least 18 years of age to apply for a credit card.
- This credit card offer is available to permanent residents of Australia as well as temporary residents. If you are an immigrant with a visa, you will need to meet other terms and conditions.
- Not be currently bankrupt.
You’ll also be asked to provide information and documentation, so make sure to have the following handy.
- Identification such as your driver’s licence or passport.
- Your full name, date of birth, residential address, email address, contact number and employment details.
- Have the details of your monthly earnings nearby as well as all of the debts for which you are responsible.
The Commonwealth Bank Low Rate Gold credit card offers a competitive ongoing variable interest rate for purchases plus a wide range of benefits and promotional offers. As this isn’t the only low rate card on the market, make sure you compare a range of other options to find one that suits your spending style and needs.Back to top