CommBank Neo card

A no interest, flat fee credit card with CommBank Rewards perks.

The CommBank Neo card is a flexible alternative to buy now, pay later services and traditional credit cards. You can make purchases and pay them off over time - without paying any interest. Instead, when you use the card or carry a balance, you'll be charged a monthly fee of $12, $18 or $22 depending on your selected credit limit.

No reviews yet. Write a review

$0 p.a.

Annual fee

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!

Details

Product NameCommBank Neo Card
Purchase rateN/A
Annual fee$0
Interest-free period
Min credit limit$1,000
Max credit limit$3,000
Card typeMastercard
Foreign currency conversion fee0%
Available to temporary residentsYes - Conditions apply
Joint applicationNo

Pros

  • Charges a monthly fee based on your selected credit limit
  • The monthly fee is refunded if you don't carry a balance or make purchases
  • Zero interest charges, 0% foreign currency conversion fees and no late payment fees
  • Access to cashback offers through the Commonwealth Bank Awards program

Cons

  • Maximum available credit limit of $3,000 is low compared to standard credit cards
  • Unable to make cash advances
  • Not connected to the Commonwealth Bank Awards program and does not offer any insurance cover
Bonus pointsN/A
Annual fee$0
Minimum monthly repayment2% of the closing balance or $25, whichever is greater
Late payment fee$0
Foreign currency conversion fee0%
Additional cardholder fee$0
Avatar

Review by


Alanna Glenn is the publisher for credit cards and loans at Finder. She has an Honours Bachelor of Commerce from McMaster University in Ontario, Canada and likes to get into the nitty gritty of all things financial and legal.

Expert review

The CommBank Neo card strays from other credit cards on the market because it doesn't charge interest. You can still pay off purchases over time (like regular regular cards), as long as you make the minimum repayments ($25 or 2% of your closing balance, whichever is greater). This structure makes the CommBank Neo more comparable to buy now pay later services.

How to apply

You can apply for the Neo card on the Commonwealth Bank website. You'll need to meet the following criteria and have your documents handy.

Eligibility criteria

  • Residency. Available to permanent and temporary Australian residents as long as you're legally allowed to work in Australia.
  • Credit history. You must have a good credit score with no current bankruptcies. You can get your credit score and copy of your comprehensive credit report for free through Finder.

Card benefits

  • No interest charges. This card charges an ongoing rate of 0% interest. No interest doesn't mean no payments and you are still required to pay at least the minimum amount listed on each statement by the payment due date. This card works like a standard credit card and you can use it anywhere Mastercard is accepted, however, you can't use it for balance transfers or cash advances.
  • Don't use, don't pay. If you don't use the card at all for an entire statement period and have a $0 balance at the end of the period, the monthly fee will be refunded back to your account for that statement period.

Rates and fees

  • Monthly fee. A $12 monthly fee applies for a $1,000 limit, a $18 monthly fee applies for a $2,000 limit and a $22 monthly fee applies for a $3,000 limit. This fee is charged each month when you use the card or carry forward a balance from previous months.
  • Minimum payments. The minimum amount you have to pay off each statement period is $25 or 2% of the closing balance, whichever is greater.

Compare 0% purchase offer credit cards

$
Name Product Purchase rate Balance transfer rate Annual fee Interest-free period Amount saved
Coles No Annual Fee Mastercard - Exclusive Offer
0% p.a. for 12 months, reverts to 19.99% p.a.
0% p.a. for 12 months
$0
Up to 55 days on purchases
Finder Exclusive, ends 30 June 2021
Earn 10,000 bonus Flybuys points and save on interest charges with 0% p.a. on balance transfers and purchases for 12 months.
Bankwest Breeze Classic Mastercard
0% p.a. for 15 months, reverts to 9.9% p.a.
0% p.a. for 15 months
$0 annual fee for the first year ($49 p.a. thereafter)
Up to 55 days on purchases
Save with 0% p.a. on purchases and balance transfers for 15 months (with no BT fee). Plus, a $0 first-year annual fee.
ANZ Platinum Credit Card
0% p.a. for 17 months, reverts to 20.24% p.a.
20.24% p.a.
$0 annual fee for the first year ($87 p.a. thereafter)
Up to 55 days on purchases
Receive a 0% purchase rate offer for 17 months and a $0 first-year annual fee. Plus, complimentary overseas travel and medical insurance.
Bankwest Breeze Platinum Mastercard
0% p.a. for 15 months, reverts to 9.9% p.a.
0% p.a. for 15 months
$0 annual fee for the first year ($69 p.a. thereafter)
Up to 55 days on purchases
Get 0% interest on purchases and balance transfers for 15 months, a $0 first-year annual fee and no foreign transaction fees.
St.George No Annual Fee
0% p.a. for 12 months, reverts to 20.74% p.a.
$0
Up to 55 days on purchases
Save with a 0% p.a. interest rate offer and a $0 annual fee. Plus, a minimum credit limit of $500.
BankSA Amplify Platinum
19.74% p.a.
0% p.a. for 15 months with 1% balance transfer fee
$99
Up to 55 days on purchases
Earn 80,000 bonus Amplify Points (worth $350 in eGift cards) when you spend $3,000 in the first 90 days.
humm90 Mastercard
23.99% p.a.
0% p.a. for 36 months
$99
Up to 110 days on purchases
Save with 0% interest on balance transfers for 36 months, with no balance transfer fee. Plus, up to 110 days interest-free on purchases.
BankSA No Annual Fee
0% p.a. for 12 months, reverts to 20.74% p.a.
$0
Up to 55 days on purchases
Offers 0% p.a. on purchases for 12 months and an ongoing $0 annual fee.
loading

Compare up to 4 providers

Ask an expert

To ask a question simply log in via your email or create an account.

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Go to site