Commonwealth Bank Low Rate Credit Card

My rate: 
My annual fee: 
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Card features
balance transfer
purchase rate
annual fee
Money saved
$59 p.a. annual fee.
Cheap ongoing purchase interest rate of 13.24% p.a.
Minimum credit limit of $500.
Add to comparison
5 months
5.99% p.a.
then 21.24%
13.24% p.a.
saved over 5 months
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Pros & cons

What's good?

What's not so good?

$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

Useful for day-to-day purchases

Reviewed and recommended by Grace on 05 Dec 2016

This is a good card if you’re looking for a backup finance option for paying bills or for everyday costs like petrol and groceries.

The card doesn’t offer many rewards or special offers but is fairly reliable, with the backing of Commonwealth Bank’s brand. It gives flexibility with limits and payments if you have a good credit rating.

Card needs a new name of high fee instead of low

Reviewed and not recommended by Alexandra on 12 Jun 2015

Commonwealth has been a bank i have trusted over the past 15 years, but unfortunately within the last 2 years, their rates and fees have been getting higher unexpectedly and hoping to be unnoticed.

They also have extremely bad customer service, no understanding towards the unexpected problems that happen in life which can lead to minor payment set backs. Will be changing banks within the next few weeks.

Pleased and satisfied

Reviewed and recommended by Mandy Young on 23 Oct 2013

We have always banked with cba and it just worked out that the card came from them to, but it has definitely worked out well, because we have done a comparison and it is great. An awesome bank and an awesome card to have would not change it for anything.

Very happy with this card

Reviewed and recommended by Thumbs up on 01 Aug 2013

I am happy with my card and the Commonwealth Bank. Customer service is excellent in the branch and on the phone – thumbs up – very happy to help you and there is not a long wait when you call. After suffering an illness CommBank was happy to help me with lower repayments giving me time to sort out my loan protection claim.

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.

Overall the best I have had so far

Reviewed and recommended by Amanda on 01 Jul 2016

I love the low interest rate. All our accounts are with CBA, so the convenience and ease of use was very appealing. I also find CBA great to deal with regarding any queries with this credit card.

This is a fantastic product, I couldn’t be any happier with it.

Good first card, cheap and easy to use

Reviewed and recommended by Anna on 09 Nov 2016

This is a good first credit card with a decent credit limit. The annual fee is not too high. It is easy to use and pay off. You can keep track of your spending on it very easily online. I don’t withdraw any cash from it. I only have it for emergencies.

Would recommend

Reviewed and recommended by Jess on 20 Oct 2014

I got this card with 13% interest rate, 55 days interest free since date of purchase, and an annual fee inder $100. I can also change my credit limit. Really ugly colours though: yellow and black.

I would recommend this to anyone trying to avoid high interest rates and also have the flexibility of paying off a payment without the interest rate going up.

I have saved a lot so far using this card

Reviewed and recommended by Kellie McGoldrick on 15 Jul 2015

I like this card, but I don’t like the annual fee. I feel it should be waived as the interest works out to be able to pay the fees. I feel the cash advance interest is far too high. Cash advances would be convenient if the rate was lower. If it got used too much, double the interest rate and suspend credit until at least half of your advance is paid, then reinstated. No penalties just interest on top.

Cheap card, gives me flexibility

Reviewed and recommended by Kerry on 17 Dec 2016

I love it. It helps me pay my bills on time and I can do what I want to. If I want to go away for a night or two I can . And when you have something come up and you don’t have the money, you can use your 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
  • 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 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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