From low interest rates and fees to awards points, compare credit cards from one of Australia’s leading banks.
Commonwealth Bank is one of Australia’s largest credit card issuers, offering a range of low rate, low fee and rewards options. If you opt for a rewards card, you can earn points as you spend to redeem for rewards with CBA’s Awards program or Qantas Frequent Flyer depending on the card you choose. With this variety, you can find a card to suit your needs whether you’re a savvy-spender or points chaser.
You can use this guide to compare CommBank credit cards and find the right card for you.
Comparison of Commonwealth Bank Credit Cards
Types of Commonwealth Bank credit cards
If you're interested in a credit card from Commonwealth Bank, you can compare your options based on the following types of cards and your financial needs.
Low rate credit cards
If you regularly carry a balance from month to month, you can use a low rate card to reduce your interest repayments compared to a card with a higher interest rate. Across CommBank's low rate range, the interest rates range between 9.9% p.a. on the Commonwealth Bank Essentials card and 13.24% p.a. for both the Commonwealth Bank Low Rate and Commonwealth Bank Low Rate gold credit cards. These rates are competitive when compared to some other low rate products on the market.
Some of these cards also come with promotional low rate balance transfers, which can help you pay off an existing debt faster and cheaper. Each of the low rate cards charge annual fees, so it’s important to weigh up the savings you’ll get from the competitive interest rates against these yearly costs.
Low fee credit cards
These cards are suited to cardholders who pay their balance in full every month to avoid interest but want to cut down on other card costs. CommBank currently offers two low fee cards: the Low Fee credit card and Low Fee Gold credit card. Both of these cards offer $0 annual fee in the first year.
The Low Fee credit card annual fee reverts to $29 p.a., while the Low Fee Gold credit card has a standard annual fee of $89 p.a. after the first year. These standard annual fees can be waived when you meet the spend requirement in the previous year.
The Low Fee Gold card also comes with complimentary international travel insurance and up to two year extended warranty on eligible purchases. However, both of the CBA Low Fee cards have high standard purchase interest rates, so they’re not suited to cardholders who don’t pay their balance in full each month.
Award credit cards
You can reward every dollar you spend with a CommBank Awards credit card. There are three rewards credit cards to choose from. The Awards credit card is suited to customers who want a lower annual fee and credit limit, but still want to earn points. The Platinum Awards and Diamond Awards credit cards are designed to reward cardholders who are happy to pay higher annual fees to get more competitive earn rates and extras like included international travel insurance.
Each of these cards earn points under CommBank’s Awards Program. You can use your points to shop in-store at Myer or for travel rewards through Flight Centre. You can also redeem your points for cash credited to your credit card account or for gift cards and products from the Awards store. You can also exchange your Awards points for Velocity Points, Etihad Guest Miles or Singapore Airlines’ KrisFlyer Miles. If you prefer Qantas Points, you can also opt in to Qantas Frequent Flyer Direct through the Awards website. There is an annual fee to opt in to earn Qantas Points.
Small business credit cards
CBA also offers flexible choices for small businesses, with low rate, interest-free days and Awards options available. If you choose a personal liability option for your business, you don't need to supply business financials when you apply for one of these credit cards. But you do need to be a business owner, director or partner with an Australian Business Number (ABN).
The benefits of banking with the Commonwealth Bank
Here are some of the convenient features and services you can enjoy with a Commonwealth Bank credit card:
Commonwealth Bank included travel insurance policy
You can save on necessary costs and travel with peace of mind thanks to Commonwealth Bank’s included insurance policies. The insurance is provided by Allianz Global Assistance and is available with the Commonwealth Bank Low Rate Gold, Low Fee Gold, Platinum Awards and Diamond Awards credit cards. Eligibility requirements, terms and conditions and exclusions apply, so make sure to see the Commonwealth Bank Credit Card Insurances product disclosure statement for all of the details.
Commonwealth Bank Awards Program
The Commonwealth Bank Awards program is one of the largest credit card rewards programs in Australia. Whether you prefer travel or frequent flyer rewards, cashback in your account or to treat yourself to product, there are plenty of ways to redeem your points. As there are three Awards credit cards on the market, you can also select a points-earning card that suits both your financial needs and rewards goals.
You can easily manage your account on the go with the CommBank app. You can use the app to check your statements and transactions, transfer money, update your personal details or PIN and locate your nearest CBA ATM or branch.
As well as worldwide acceptance, you can also look forward to a bunch of Mastercard perks with your Commonwealth Bank credit card. For transactions under $100, you can use your card to make contactless payments thanks to Mastercard PayPass. If your card is used for fraudulent transactions, your purchases will also be protected by Mastercard Zero Liability cover.
Mobile contactless payments
You can use your eligible smartphone or smartwatch to make contactless payments with Samsung Pay and Google Pay. Although Commonwealth Bank isn’t currently partnered with Apple Pay, you can order an PayTag through your NetBank app to attach to your iPhone and make contactless payments with your phone.
How to apply for Commonwealth Bank credit cards
You can apply for a Commonwealth Bank credit card online within 10-15 minutes. Before you get started, make sure you meet the application requirements for your chosen card. These include:
- Age. You must be at least 18 years of age to apply for a credit card.
- Residency status. You must provide details of your Australian citizenship, residency or visa status. These requirements vary between cards, and additional conditions may apply for temporary residents. To ensure you're eligible, check the specific conditions for the product before you apply.
- Credit history. Your credit history must be in good standing.
Other conditions may apply depending on the card. You can find this information listed on finder's Commonwealth Bank credit card product review and application pages. If you do meet the minimum eligibility requirements, Commonwealth Bank will also need to assess your financial situation before they make a decision about your credit card application.
To speed up the application process, make sure you have these details and documents handy when you apply for your CommBank credit card:
- Personal information. You will need to provide information including your full name, current residential address, email address, contact phone numbers and date of birth.
- Details about your income. Aim to provide as much detail as possible about your income and assets. Details of income-generating assets such as property and shares also need to be provided, as well as information about any savings.
- Expenses and liabilities. You will need to provide information about any debts you have, as well as ongoing expenses like child support, rent, mortgage repayments, or anything else that is considered a regular, essential cost.
- Other credit cards. If you want to transfer a balance to a Commonwealth Bank credit card from your existing non-Commonwealth Bank credit card(s), store card(s) or charge card(s), you will need to provide the account details, including the card number, the amount you want to transfer and the name of the issuing financial institution.
Frequently asked questions
Want to know more about Commonwealth Bank credit cards? Here we've answered some of the most common questions we get about CommBank cards. You can also get in touch with us by using the form at the bottom of the page.