In this guide

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

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Purchase rate
0% p.a.
Annual fee
$0 p.a.

Our verdict

A no interest, flat fee credit card with 0% foreign currency fees, CommBank Yello cashback offers and a monthly fee based on your credit limit.

The CommBank Neo card is a flexible alternative to buy now pay later and traditional credit cards. It gives you a way to make purchases and pay them off over time, without interest. Instead, you're charged a monthly fee of $15 for a $1,000 credit limit, $20 for a $2,000 credit limit and $25 for a $3,000 limit. Similar to other no interest credit cards, the monthly fee is only charged when you use the account. So if you don’t carry a balance and don’t use the card for an entire statement period, CommBank will reverse the monthly fee.

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 promotion through the CommBank Yello Cashback Offers program

Cons

  • Maximum available credit limit of $3,000 is low compared to standard credit cards
  • Unable to make cash advances
  • You will not earn CommBank Awards points for your spending
  • Does not offer any insurance cover

In this guide

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

The CommBank Neo offers low credit limits of up to $3,000, with a higher limit attracting a higher monthly fee. Although it doesn't charge interest, you still need to make minimum repayments for each statement period. The amount you need to pay is 2% of your closing balance or a minimum of $25, and will be listed on each statement.

Details

Product details

Product Name CommBank Neo Card
Purchase rate p.a.
Purchase rate p.a.
0%
Interest-free period
Min credit limit $1,000
Max credit limit $3,000
Card type Mastercard

Eligibility

Available to temporary residents Yes - Conditions apply
Joint application No

Rewards

Bonus points N/A

Fees

Annual fee
Annual fee
$0
Minimum monthly repayment 2% of the closing balance or $25, whichever is greater
Late payment fee $0
Foreign currency conversion fee
Foreign currency conversion fee
0%
Additional cardholder fee $0

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.
  • No foreign currency fees. The CommBank Neo card charges 0% fees for transactions made overseas or online in a foreign currency.

Rates and fees

  • Monthly fee. A $15 monthly fee applies for a $1,000 limit, a $20 monthly fee applies for a $2,000 limit and a $25 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.

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Bankwest Breeze Platinum Mastercard
Purchase rate p.a.
0% for 12 months, then 12.99%
0% for 12 months with 2% balance transfer fee, then 12.99%
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Get 0% p.a. interest on purchases and balance transfers for 12 months (with a 2% BT fee). Plus 0% foreign fees and complimentary overseas travel insurance.
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Purchase rate p.a.
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Annual fee
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Up to 55 days on purchases
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Citi Rewards Card - Purchase and Balance Transfer Offer
Purchase rate p.a.
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0% for 15 months, then 22.24%
Annual fee
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Up to 55 days on purchases
Save with 0% p.a. on purchases and balance transfers for 15 months with no balance transfer fee.
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Amy Finder

Editor

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Avatar

aj

September 10, 2023

if i use the card and pay off the enite balance within the statement period, do i incur the monthly fee?


Avatar

Amy Bradney-George Finder

September 12, 2023

Hi AJ,

Yes, the monthly fee would still apply if you used the card for spending. Here are the terms and conditions on the CommBank website:

“If you don’t have any processed transactions in a given statement period and pay your previous statement closing balance in full by the due date, you won’t be charged a monthly fee for that statement period. We may process transactions later than the day you originally made them. This is when your transaction is no longer a pending transaction and has been fully processed by us.”

If you want a card that doesn’t charge a fee when you use it, you could compare no annual fee credit cards to find one with an ongoing $0 annual fee. I hope this helps.


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Avatar

saroj

June 17, 2023

i recently got my neo credit card from commbank and i made some purchase.

My question is how do i get to know the due date to pay so that i can avoid the interest


Avatar

Sarah Megginson Finder

June 20, 2023

Hi Saroj,


You will receive a statement from CommBank every month, which will outline the statement balance and due date for payment.


If you have online banking, you will be able to see the statement there, otherwise they may be posted to you.


Hope this helps!


Avatar

Constance

September 27, 2022

I am waiting for my Permanent Residency to go through. I am traveling to the US and want to have a credit card. Can you help me?


Avatar

Alanna Glenn Finder

September 27, 2022

Hi Constance,

You don’t need to be a permanent resident to apply for the Neo card. You just have to have the legal right to work in Australia, and you’ll need to provide your visa details to CommBank when you apply. You can also compare other credit cards available to temporary residents on Finder.


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