In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
  • Ask a question
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Commonwealth Bank Corporate Interest-Free Days card

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CommBank Corporate Interest Free Days Card
Terms and conditions apply
Purchase rate
17.57% p.a.
Annual fee
$40 p.a.
Interest-free on purchases
Up to 55 days

Our verdict

Offers up to 55 days interest-free on purchases and unlimited cards for employees, but charges an annual fee per card.

The Commonwealth Bank Corporate Interest-Free Days Card is designed for medium to large businesses that want to manage spending and cash flow. The interest-free days on this card mean you would get 55 days interest-free on purchases made on the first day of your statement period, 54 on the second day, and so on until the due date on your statement. You then need to pay the total amount owing by the due date in order to keep making use of interest-free days. Otherwise, a 17.57% p.a. variable rate applies. So if your cash flow typically follows a monthly cycle, this structure means you can avoid paying interest on the account.

Pros

  • Up to 55 days interest-free on purchases
  • Cards for employees, with custom spending and transaction limits
  • Complimentary transit accident insurance and unauthorised use insurance

Cons

  • Annual fee depends on how many cards you add to the account
  • 2.5% international transaction fee

In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
  • Ask a question

The Commonwealth Bank Corporate Interest-Free Days Card has an annual fee cost of $40 per card for up to 49 credit cards, $32 per card for 50 to 499 cards and $24 per card for 500 or more cardholders. It also offers unauthorised use insurance, detailed expense reports and worldwide, Mastercard acceptance.

Details

Product details

Product Name CommBank Corporate Interest Free Days Card
Purchase rate p.a. 17.57%
Interest-free period Up to 55 days on purchases
Cash advance rate p.a. 17.99%
Card type Mastercard

Eligibility

Available to temporary residents No
Joint application No

Rewards

Bonus points N/A

Fees

Annual fee $40
Minimum monthly repayment 2.5% of the closing balance or $75, whichever is greater
Late payment fee $20
Foreign currency conversion fee 2.5%
Overseas cash advance fee $4

How to apply

If you want to get the CommBank Corporate Interest-Free Days card for your business, call the CommBank business team on 13 19 98. As part of the process, make sure that you meet the following eligibility criteria and have all the documents and details you need to fill in the application form.

Eligibility criteria

  • Business requirements. You must intend to use this account primarily for business spending.
  • Age. You must be at least 18 years old to apply.

Card benefits

  • Interest-free days on purchases. This card offers up to 55 days interest-free on purchases when you pay your account balance in full by the due date on each statement. Note that cash advance transactions are not eligible for interest-free days.
  • Unauthorised transaction insurance. The CommBank Corporate Interest-Free Days Card offers complimentary unauthorised transaction insurance worth up to $150,000 a year to help protect against unauthorised transactions made by cardholders. Make sure you read the insurance terms and conditions for the full details of this cover.

Rates & fees

  • Annual fees. This account charges an annual fee per card, which is based on the total number of cards and costs $40 per card for up to 49 credit cards, $32 per card for 50 to 499 cards and $24 per card for 500 or more cardholders.
  • Interest rate. This card has an interest rate of 17.57% p.a., which could add up if you carry a balance and don't make use of the interest-free days feature.

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Amy Finder

Editor

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