Commonwealth Bank Low Rate Gold Credit Card

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My annual fee: 
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Card features
balance transfer
purchase rate
annual fee
Money saved
$89 p.a. annual fee.
Overseas travel insurance to give you cover for up to 3 months travel.
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 Plus these benefits
Similar cards

Pros & cons

What's good?

What's not so good?

$89 p.a. annual fee.
Cheap ongoing purchase interest rate of 13.24% p.a.
Overseas travel insurance to give you cover for up to 3 months travel.
Award winning Internet Banking and Mobile Apps to make it easier to manage your account.
PayPass for faster payments at the shops.
Lower balance transfer rates are available through other credit cards.

User reviews

3.7 out of 5.0 based on 13 reviews92% of reviewers would recommend this card

Rates and fees
Customer service

Reviews from users

Free travel insurance with this card

Reviewed and recommended by Pam on 23 Oct 2013

I have a Gold Low Rate Credit Card from the Commonwealth Bank. I took it out years ago because they gave you free travel insurance overseas for any age. This year the travel insurance has been taken away for over 80s.
I am not happy with this as I am still travelling at 80, they should let people who already have the card keep the travel insurance.

Generally pleased with the card

Reviewed and not recommended by Diana Aleksovska on 25 Dec 2014

The fees are excellent and the interest is really low. However, there is no rewards program if you spend from this card (vouchers, points). I wish Commonwealth Bank would have a look into that. The design and style of the card is excellent. I am proud that I own this card.

Free travel insurance not for over 80

Reviewed and recommended by Barbara Fehmel on 01 Apr 2014

I thought that the Gold MasterCard Commonwealth bank was great. I took it out 4 years ago for the free travel insurance it offered with NO AGELIMIT now this is different once you turn 80 it is not available to you. I will be changing this card, in the very near future, as this is what I wanted. I also have to pay a yearly fee, when I can get a card with no yearly fee as long as I put $1000 on it in a year.

It is a low rate but...

Reviewed and recommended by Graham on 02 Jul 2016

The Low Rate card has a lower rate than the other CommBank offerings, but compared to others available on the market they are still towards the upper limit.

I have the card as I am not interested in rewards (this series of low rate cards are not in the CommBank Awards program) and as it is linked to my other accounts. It is just a convenient card to have. The other benefit is if I pay my travel costs with it I am covered with the free travel insurance, which I have used and it isn’t bad coverage.

Travel insurance

Reviewed and recommended by Barbara Fehmel on 14 Jul 2015

This is a very good card if you are under 80 years of age and travelling internationally. You get free insurance, but have to pay the first $200 of the claim.

I did have to use this travel insurance once and they paid promptly with no arguments. If you are older than 80 it is not worth paying the yearly amount. You can get cheaper cards elsewhere.

Better interest rate plus rewards

Reviewed and recommended by Linda on 23 Sep 2016

The card seems to have a better rate that most cards and the rewards program is a bit of a bonus. I’ve been very happy with this card and had it for quite a few years now. Commonwealth Bank have been really easy to deal with in my experience. I would recommend it.

Pleased with my card

Reviewed and recommended by Kallie on 24 Jun 2016

I have a CommBank credit card and I am generally happy with it because of the low fees and low rates. I have the credit card as it makes it easier when I need to rego the car or for any unplanned expenses. It works well for me and I would highly recommend it to anybody.

No fees at all

Reviewed and recommended by Jose on 22 Sep 2016

This credit card is ideal for people who are prepared to pay in full on the due date. There is no rewards scheme attached. There are no fees as long as you spend $10,000 per year.

The service is very good. I have had this card for the last 15 years. On one occasion there was an erroneous charge and they corrected it within a few days.

Excellent customer service

Reviewed and recommended by Caitlin on 26 Jun 2016

It was easy to obtain this card and the low interest rate means you don’t get yourself into too much trouble when using the card for purchases. The customer service that Commonwealth provides to cardholders is exceptional and the team are always ready to help in any way they can.

A fair, low-rate card with free travel insurance

Reviewed and recommended by Matt on 05 Dec 2016

I’ve had this card for about three years now and it’s been adequate. The low rate isn’t all that low, though (but basically standard for big banks).

The bonus travel insurance is handy, and you don’t even have to purchase the trip on the card. The annual fee is a little high, I think, and there are no rewards. Still, if you’re looking at a big bank for a low-rate credit card, this’ll do you just fine.

Show 3 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 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

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


Annual fee
$89 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


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.
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.
Transaction fee waiver
Cardholders get a CommBank Travel Money Card without paying the usual $15 fee.
Overseas travel insurance
Valuation based on similar annual travel insurance policies available online for trips of up to 60 days.
Total estimated value$906
Annual fee$89
Net customer value$817
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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