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Our verdict

Offers a low interest rate for purchases and 0% on balance transfers for the first 12 months, with a $40 annual fee.

The Community First Low Rate credit card combines a competitive interest rate and annual fee with simple account features. The 8.99% p.a. interest rate on this card is one of the lowest on the market and applies purchases, cash advances and balance transfers (outside of any promotions). This sets it apart from most other low rate cards, which typically charge higher rates for cash advances and balance transfers. In 2024, it was named highly commended in the Best Low Rate Credit Card category of the Finder Credit Card Awards for the third year in a row.

As well as the competitive $40 annual fee, this card offers a $0 additional cardholder fee if you want to share the account with your partner or a family member. The other features on the Community First Low Rate are straightforward. It offers up to 55 days interest-free on purchases if you pay off your full balance each month, contactless payments, online and mobile banking and zero liability for fraudulent transactions.

Pros

0% p.a. for 12 months on balance transfers
Interest-free period of up to 55 days
Low annual fee of $40 p.a.
Same rate for purchases, cash advances and balance transfers

Cons

There is no rewards program linked to this credit card
Charges a 3% foreign currency conversion fee

The Community First Low Rate credit card offers a competitive interest rate for all transactions and a $40 annual fee, as well as up to 55 days interest-free on purchases.

Details

Product details

Product Name	Community First Low Rate Credit Card
Balance transfer rate p.a.	0% for 12 months, then 8.99%
Purchase rate p.a.	8.99%
Interest-free period	Up to 55 days on purchases
Cash advance rate p.a.	8.99%
Min credit limit	$500
Max credit limit	$15,000
Card type	Visa

Eligibility

Available to temporary residents	No
Joint application	No

Rewards

Bonus points

N/A

Fees

Annual fee	$40
Minimum monthly repayment	3% of the closing balance or $20, whichever is greater
Late payment fee	$25
Foreign currency conversion fee	3%
Overseas cash advance fee	$5
Additional cardholder fee	$0

Image: Finder Customer Satisfaction Logo

Well done, Community First!

The Community First Low Rate Credit Card offers an 8.99% interest rate for purchases, a low $40 annual fee and up to 55 days interest-free for purchases when you pay the total amount listed on each statement by the due date. It was also a finalist in this category in 2023 and is another member-owned financial institution.

Full list of 2024 winners

How to apply

You can apply for the Community First Low Rate credit card online by filling out a secure application form on the Community First website. Get started by making sure you meet the eligibility criteria and have all the documents and details you'll need to provide when you apply.

Eligibility criteria

Income requirement. You must earn a regular income and have been in your current job longer than 6 months to apply for this card.
Residency. You must be an Australian citizen or permanent resident.

Credit history. You must not be an undischarged bankrupt or have a history of outstanding credit defaults.
Age. You must be at least 18 years old to apply.

Required documents

Personal details. This includes your full name, email address, residential address, contact number and date of birth. You also need to provide a valid form of ID, such as your driver's license or passport.
Employment details. You need to provide information about your employment status, including your occupation, salary, length of employment and your employer's contact details. You may also be asked for supporting documentation, such as recent payslips or bank statements.
Financial details. This includes any other forms of income, such as government payments or pensions. You will also need to provide details of your assets and savings, as well as existing loans, debts and your share of regular household expenses.

Card benefits

8.99% p.a. interest rate. While most low rate credit cards charge different interest rates for purchases, cash advances and balance transfers, the Community First Low Rate credit card applies the same rate to all of these transactions. This can make it easier to keep track of interest charges and your balance.
Balance transfer offer. Consolidate your debt with this card and take advantage of a 0% p.a. for the first 12 months on balance transfers. Once the introductory period is over, the rate reverts to the standard balance transfer rate (currently 8.99% p.a.).

Additional cardholder. This account offers a $0 additional cardholder fee if you want to share the account with someone. Note that you will still be responsible for managing the account.
Internet and mobile banking. Check your balance and manage your account easily via Internet banking or with the Community First mobile banking app. This card is also compatible with Apple Pay, Samsung Pay and Google Pay for contactless payments through your smart device.
Visa benefits. Make tap-and-go payments at the checkout with Visa payWave, get extra security online through Visa Secure and enjoy peace of mind with Visa zero liability for fraudulent transactions. Plus, get access to exclusive hotel perks, travel and shopping offers through Visa Offers + Perks.

Rates & fees

Annual fee. The $40 annual fee on this card is competitive with other low rate credit cards.
Interest-free days on purchases. Get up to 55 days interest-free on purchases when you pay off your total outstanding balance by the due date on each statement. Note that interest-free days don't apply to cash advances or balance transfers.

Credit limit. You can apply for a credit limit as low as $500 up to $15,000.
International transaction fee. A fee of 3% applies when you use this card overseas or online with a business that processes the payment in a foreign currency.

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Amy Finder

Editor

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Jodi

April 29, 2019

I am interested in the Community First Low Rate 8.99% Cash Advance Credit Card with limit of 15%, is a credit score of 650 sufficient? I have no defaults in last five years, just a few enquiries.

Jhez Finder

April 29, 2019

Hello Jodi,

Thank you for your comment.

650 credit score is classified as good credit band according to our guide on credit card credit ratings. The Community First Low Rate Credit Card requires an applicant to have a good credit rating to apply for this card (as specified above). They also require you to not be bankrupt and not have defaulted on any loans, credit cards, interest-free finance, or store cards in the last five years.

Please make sure though to read the eligibility criteria, features, and details of the card, as well as the relevant PDS/ T&Cs of the card before making a decision and consider whether the product is right for you.

To apply, kindly visit the Community First website.

Regards,

Jhezelyn

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Kim

June 20, 2015

I own a gold Mastercard from CBA, can I transfer all the details to your Community First Low Rate Visa Credit Card?

Thank you very much.

Kim

Jonathan Finder

June 22, 2015

Hi Kim, thanks for your inquiry!

Please note that finder.com.au is a comparison service and is not directly affiliated with Community First. Balance transfers from the Commonwealth Bank to Community First are eligible. Please note that the balance transfer amount has to be at least $500 and can not exceed the credit limit provided on your credit card upon application approval. As long as you meet the application criteria you will be eligible to apply for this credit card. I have sent the application link to your email address.

Cheers,

Jonathan

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Community First Low Rate Credit Card

Pros

Cons

Well done, Community First!

How to apply

Eligibility criteria

Required documents

Card benefits

Rates & fees

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