Commonwealth Bank Low Rate Credit Card

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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
Similar cards

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

No rewards and only 45 days interest free

Reviewed and not recommended by Ven on 17 Nov 2016

I’ve had this card for almost two years now. It has the standard 45 days interest free. The interest rate isn’t that low, yet they give you no rewards for making purchases. It will suit someone that doesn’t shop much, as there are no loyalty point for your purchases.

Introducing some kinds of points system or offering more than 45 days interest free might make this card more appealing.

Average credit card

Reviewed and not recommended by Justine on 28 Sep 2013

This card is very convenient for me to have, except it is not exactly what i wanted. I would like to change it but i haven’t found any new cards that i like. It could also look a lot nicer too. It’s quite manly and dreary, I’m not confident that I would recommend this to anyone.

I wish I never got this card

Reviewed and not recommended by Lauren on 06 Jul 2016

Fees are high, it doesn’t give you any frequent flyer points. The only good thing is that I already bank with Commonwealth, so it’s on my NetBank (the app is fantastic).

They really need to improve their rates and benefits, but will say it is convenient and easy to use with PayPass.

Got it for cash back, kept for interest-free days

Reviewed and recommended by Jake on 27 Oct 2016

Low rates and a long no-interest period help control costs. There was also $250 cash back, which is why we originally signed up for the card. The 55 days interest free is why we have kept the card, as it allows us to make certain payments and then pay them off over several weeks.

Simple and helpful

Reviewed and recommended by Greg on 12 Sep 2014

Big banks have the negative view that they are in some way taking your money sneakily through fees. When I got this card for a one off purchase everything was explained slowly and clearly. Nothing hidden and the customer service is great: as soon as you have a problem they are all over it.

OK as an everyday card

Reviewed and not recommended by Renae on 26 Sep 2016

The card came with our home loan package, and there are definitely better products out there. The fees are no better. I just organise my month so I don’t get any interest charges or fees. I still have to pay for the card in the package fee each year. There are no rewards and no extra incentives. It’s OK as an everyday card for general use.

Has been handy

Reviewed and recommended by Adam on 15 Jun 2016

This card hasn’t given me any hassles yet! It has helped me when I’ve needed it most. I like the new design cards that just came out compared to the old ones. It’s nice to have a change. This is a good starting card for people who are just starting out and wanting to save money.

Card gave me independence

Reviewed and recommended by Nicole on 06 Nov 2016

I got this card with a $1,000 limit when I was 18, and I remember not wanting my parents to know. I wanted to ensure I could go out clubbing with the latest fashion, without having to wait until pay day and wouldn’t have to borrow money from my parents.

I've never had a different credit card

Reviewed and not recommended by Julia on 06 Aug 2015

I have nothing to compare this credit card with as I have always been with Commonwealth Bank. Minimum payments each month are confusing. There is nothing special about this card that I would tell a friend so therefore I would not recommend it to a friend. Using the card is easy though.

Gold free travel insurance

Reviewed and not recommended by Barbiedoll99 on 14 Jun 2015

I took out the Gold Low Rate Credit Card (no rewards) 4 years ago for the free travel insurance. It was great when travelling overseas, and saved me, an older lady, a great deal of money.

But this cover cuts out at 80, so find another company that will service you with travel insurance if over 80.

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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