Commonwealth Bank Low Fee Gold Credit Card

My rate: 
17%
 
My annual fee: 
$90
 
Transfer: 
$5,000
 
From: 
All banks
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Offer
Card features
balance transfer
purchase rate
annual fee
Money saved
A chance to win 1 of 60 $5,000 Flight Centre Gift Cards. Conditions apply.
Enjoy $0 annual fee for the first year, for each subsequent year where you spend $10,000 or more in the previous year**.
Overseas travel insurance to give you cover for up to 3 months travel.
Add to comparison
5 months
5.99% p.a.
then 21.24%
19.74% p.a.
ongoing
$0
1st year
then $89
 
saved over 5 months Plus these benefits
Similar cards

Pros & cons

What's good?

What's not so good?

A chance to win 1 of 60 $5,000 Flight Centre Gift Cards. When you apply for a new CommBank credit card by 31st Oct 2017 and activate by 15th Nov 2017. Conditions apply.
Enjoy $0 annual fee for the first year and for each subsequent year where you spend $10,000 or more in the previous year**.
Overseas travel insurance to give you cover for up to 3 months travel.
Purchase security insurance to repair or replace most purchases if lost, stolen or damaged within 90 days.
Award winning Internet Banking and Mobile Apps to make it easier to manage your account.
PayPass for faster checkout times at the shops.
The ongoing interest rates on purchases and cash advances are quite high.
There are more competitive balance transfer rates out there.

User reviews

3.8 out of 5.0 based on 14 reviews86% of reviewers would recommend this card

Rates and fees
Rewards
Customer service
Convenience
Trust

Reviews from users

A great card for someone starting out

Reviewed and recommended by Amelia on 26 Oct 2016

There are no rewards, but as I’m a low spender I wouldn’t benefit anyway. I am a uni student so use this card mostly to build up a good credit history — small purchases like groceries, paid back in full before the fees are charged.

I have a $2000 limit, which gives me the peace of mind to know if I have an emergency I won’t be borrowing money from Mum and Dad.

Pay up, save big!

Reviewed and not recommended by Scott on 23 Sep 2015

Just put $1000 through in your annual anniversary year and you don’t pay the annual fee. Pay it off before due or when due and avoid interest charges. I keep it as a back up card to use if I forget my ATM card or it doesn’t work. Also the limit on this is high enough, so you can book holidays etc.

Great card, really handy

Reviewed and recommended by Dedy on 26 Jul 2013

This credit card was recommended by a friend who works in a bank and as an international student this card really handy to pay for anything in advance before any money came through from my country. Great service because i got hacked and i don’t have to pay anything to get it sorted.

I am satisfied with this credit card

Reviewed and recommended by Dijana Shterjovska on 01 Aug 2013

I love this card because I stopped paying too much interest. Accidentally I lost my previous credit card which was much more higher with interest. When rang to tell the customer service representative, he offered me the MasterCard with the low fees. I am really grateful for that, really appreciate it

No fees, great deal

Reviewed and recommended by Heather on 20 Sep 2016

There are no fees, It’s a good credit card, and convenient. I love this credit card. It is what it’s supposed to be, a credit card but with no fees attached. How cool is that? Just pay the balance owing on time every month, and you don’t get charged one cent. I can’t believe ii, but it’s true, and I have had it for years.

Fee waived for reaching spending target

Reviewed and recommended by Lovish on 28 Apr 2017

The card comes with few rewards options. The only benefit you get from this card is that you get credit of 45 days when spending.

There are few offers with this card. It seems to me that this card is for those who need credit for cigarettes and wine.

The annual cost of this card is low, and if you spend a certain amount the annual fee is waived. So cost wise it is good.

Wanting to reduce card amount

Reviewed and recommended by Fiona McCoombes on 15 Jul 2015

I changed to the Low Fee Gold credit card due to the bonus points being offered and Award cards being included with use of the cards. The fees and costs are still quite high though, especially if you’re not able to pay the monthly outstanding payment each month. However, being able to add Award cards to this card is a bonus, along with extended warranty on any item purchased on the card.

No fees, no problems

Reviewed and recommended by Narelle on 03 Aug 2013

No fees, no problems. Has PayPass options for easy payment. Coupled with a bank account has no fees charged against it. Perfect option for pensioners and students. You can link a keycard and the MasterCard to the same bank account to save on fees, that’s how I got it fee free. You can also take cash out and use it like a keycard also.

Convenient for cashflow

Reviewed and recommended by Aileen Stinten on 29 Sep 2013

I only have a low credit limit, but this is what suits me for my life style I do not like to have a large debt and the low credit limit suits me so I don’t get myself into much trouble in that way. It is convenient if something pops up before pay day.

Got this card

Reviewed and recommended by Sandra on 09 Sep 2013

This card gives me the ability to manage my money on a monthly basis, with low fees. Statements are easy to understand, and the bank abides by it’s promises. It’s awesome for organising and booking travel and it’s great to know I’ve paid before I even leave the country! The bank was very generous with my credit limit and do not hassle me about all sorts of other deals.

Show 4 more reviews
Disclaimer: The opinions expressed about credit cards are the reviewer's alone, and do not reflect the views of Credit Card Compare or the credit card issuer. Reviews have not been approved or otherwise endorsed by Credit Card Compare.

The basics

About this card

Card setup
Single
Card tier
Gold
Card type
Mastercard
Card use
Personal
Credit rating
Any
Gambling transactions allowed
No
Joint application
No
Minimum age
18 years old
Minimum income
N/A
Minimum income for pensioners
$Same as standard
Pensioners
Rewards program
None
Temporary residents
Yes

Cardholders

Additional cardholders
1
Additional card fee
$0 p.a.

Credit limits

Minimum credit limit
$4,000
Maximum credit limit
$50,000

Repayments

Interest charged from
Purchase date
Interest free period
Up to 55 days on purchases
Minimum repayment
2%

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers5.99% p.a.5 months0%100% of credit limit21.24% p.a.

Balance transfers to this card

Balance transfer earns rewards
No
Balance transfer fee payment due
First statement
Balance transfer from personal loan
No
Balance transfer processing time
10 - 14 days
Interest free days with unpaid balance
0 days
Maximum balance transfer
100% of credit limit
Available to existing customers
No

Banks you can't balance transfer from

You can't balance transfer to the Commonwealth Bank Low Fee Gold Credit Card at the promotional balance transfer rate from:

  • Aussie
  • Bankwest
  • Commonwealth Bank

Rates & fees

Promotional interest rates

Interest ratePeriodFeeLimitRevert rate
Balance transfers5.99% p.a.5 months0%100% of credit limit 21.24% p.a.
PurchasesN/AN/AN/AN/A N/A

Ongoing interest rates

MonthlyAnnually
Cash advances 1.77% 21.24% p.a.
Purchases 1.65% 19.74% p.a.

Fees

Annual fee
$0 p.a.
Annual fee 2nd year
$89 p.a.
Cash advance fee
2%
Dishonour fee
$20
Duplicate statement fee
$7
Foreign exchange fee
3%
Late payment fee
$20
Over limit fee
$0
Overseas ATM balance fee
$1.25
Overseas ATM withdrawal fee
$4 or 1.75% of the cash advance amount (whichever is greater).
Overseas emergency card replacement fee
$20
Transaction verification fee
$0

Benefits

This card comes with benefits worth an estimated $906

ShoppingEstimated value
Extended warranty
Valuation based on the assumption of making a $250 claim once every 5 years. There is no retail market for all-encompassing extended warranty insurance covering more than one item, so no premium saving.
$50
Purchase protection
Valuation based on the assumption of making a $200 claim once every 5 years. There is no retail market for this type of insurance, so no premium saving.
$40
Transaction fee waiver
Cardholders get a CommBank Travel Money Card without paying the usual $15 fee.
$15
Travel
Overseas travel insurance
Valuation based on similar annual travel insurance policies available online for trips of up to 60 days.
$801
Total estimated value$906
Annual fee$0
Net customer value$906
Disclaimer: Details of who, what, and where coverage applies to, as well as its duration and any coverage limitations will be listed in the credit card insurance product disclosure statement (PDS) on the card issuer's website. The names/labels of complimentary insurance products may differ from one issuer to another. Terms and conditions apply. Always check the insurance PDS when considering a financial product. Accurate as of 31st October 2015.

Minimum criteria for this card

What you need before applying

Be over 18 years old
You are a resident or citizen of Australia
Earn a regular any weekly income
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
Joint applications are not allowed
Temporary residents are eligible
Age Pension, Disability Pension and Widower's Pension are acceptable.
Carer's Allowance and Child Support Payments are acceptable.
Disclaimer: The minimum criteria pointers are intended only to be a guide. Your application may still be rejected by the bank even if you can answer 'Yes' to all the minimum criteria. The final decision regarding your application is up to the bank.

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