Commonwealth Bank Low Rate Credit Card

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Card features
balance transfer
purchase rate
annual fee
Money saved
Commonwealth Bank Low Rate Credit Card
Apply by 04 feb 18
95 reviews
$300 cashback when you apply by 4th Feb 2018 and spend $1,000 within 90 days of activation. Conditions Apply.
$59 p.a. annual fee.
Cheap ongoing purchase interest rate of 13.24% p.a.
Add to comparison
5 months
5.99% p.a.
then 21.24%
13.24% p.a.
saved over 5 months
Similar cards

Pros & cons

What's good?

What's not so good?

$300 cashback when you apply by 4th Feb 2018 and spend $1,000 within 90 days of activation. Conditions Apply.
$59 p.a. annual fee.
Minimum credit limit of $500.
Cheap ongoing purchase interest rate of 13.24% p.a.
5.99% p.a. for 5 months on balance transfers.
Up to 55 days on purchases
Huge nationwide network of branches, Australia Post agencies, and ATMs.
Award winning Internet Banking and mobile apps to make it easier to manage your account.
The 21.24% p.a. interest rate would sting if you haven’t cleared your balance transfer amount.
Not connected to any rewards program.

User reviews

3.6 out of 5.0 based on 95 reviews83% of reviewers would recommend this card

Rates and fees
Customer service

Reviews from users

Easy bill paying

Reviewed and recommended by Sophie on 26 Jul 2016

The low rates are great and make it easy to pay bills, but I don’t get any rewards. However, the main reason that I signed up for a credit card was to get a credit rating. The maximum of $10,000 is different to many cards that have a lower limit. But, if I was getting a credit card for a reason other than a credit rating, I’d go for something with more benefits.


Reviewed and recommended by Paul on 25 Jun 2016

The low interest rate is a plus, especially in the long term for saving on interest. It is convenient and I have never had any problems. The card is made of plastic and lasts the three years in between cards in your wallet. Never really had any problems. Can recommend.

Pretty great card, but no rewards

Reviewed and recommended by Art on 25 Aug 2016

This card has been instrumental in helping me live the kind of lifestyle I wish to enjoy. The fees are not bad, although it would have been good to earn rewards through using it.

Overall, this card has been a lifesaver for me throughout my twenties, allowing me to live a full life.

CBA no frills credit card

Reviewed and not recommended by Katherine on 18 Jul 2016

This card is a very basic credit card. There are no rewards or gimmicks with it, so the fees and high interest rates mean this card should be used only when necessary and paid off as soon as possible. The customer service side is, as always with the CBA, fantastic over the phone.

Convenient, and good for emergencies

Reviewed and recommended by Alan on 20 Sep 2016

I have had this credit card for quite some time, and I find it very convenient, especially with my online purchases, etc. It is also really convenient for emergency payments.

As I am just a pensioner with very little money, I have to depend upon my credit card and my bank’s assistance all of the time.


Reviewed and recommended by Anon on 28 Sep 2014

I love this card. It’s so handy and with regular small payments you don’t get interest! I do not regret getting this card and it has not given me any hassles as yet, The repayments are low depending on your card limit and how much you have spent. I would recommend this card to everyone!

Low rate and convenient

Reviewed and recommended by Thuy on 24 Jun 2016

Can use PayPass and get a low rate with 55 days interest-free. It was easy to apply and I got a reasonable credit limit. Customer service have been good with knowledge and a pleasant attitude. There were helpful hints and instructions in the paper booklet sent via mail. It’s easy to manage the card and pay for everything using NetBank or the CommBank app. Direct debit was easy to set up.

Credit with a low monthly rate

Reviewed and recommended by Blossom on 30 Oct 2014

The convenience of credit when I need it, with a low monthly rate for those times it’s not convenient to pay the balance off. Easy online banking services through Netbank allows me to make payments and keep track of my spending. The only thing I miss after changing from a higher rate card is not having a rewards program as part of the deal.

Pays to shop around

Reviewed and not recommended by Wendy on 11 Jul 2016

I like the better service from some of the other leading banks and I now prefer to use prepaid. The one advantage was access to use worldwide, but other cards can do this also. I am dissatisfied with their service—I feel as though the bank gives little back to their customers, which is a shame as the banks are making so much profit.

Simple low-fee card

Reviewed and recommended by Rita on 08 Jul 2016

It’s a simple low fee card that is is easy to use and doesn’t cost me much in yearly fees or interest. It’s no frills, so you get what you pay for. I have always had exceptional service from the Commonwealth bank and have had no issues with this card.

Show 85 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
Card tier
Card type
Card use
Credit rating
Gambling transactions allowed
Joint application
Minimum age
18 years old
Minimum income
Minimum income for pensioners
$Same as standard
Rewards program
Temporary residents


Additional cardholders
Additional card fee
$0 p.a.

Credit limits

Minimum credit limit
Maximum credit limit


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

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
Balance transfer fee payment due
First statement
Balance transfer from personal loan
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

Banks you can't balance transfer from

You can't balance transfer to the Commonwealth Bank Low Rate 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

Cash advances 1.77% 21.24% p.a.
Purchases 1.10% 13.24% p.a.


Annual fee
$59 p.a.
Cash advance fee
Dishonour fee
Duplicate statement fee
Foreign exchange fee
Late payment fee
Over limit fee
Overseas ATM balance fee
Overseas ATM withdrawal fee
$4 or 1.75% of the cash advance amount (whichever is greater)
Overseas emergency card replacement fee
Transaction verification fee

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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