Commonwealth Bank Essentials Credit Card | Review & Compare

Commonwealth Bank Essentials Credit Card

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Commonwealth Bank Essentials Credit Card
Commonwealth Bank Essentials Credit Card
$60 p.a. annual fee. (Conditions Apply)
Cheap ongoing purchase interest rate of 9.90% p.a.
Minimum credit limit of $400.
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9.90% p.a.
ongoing
$60
ongoing

Pros & cons

What's good?

What's not so good?

Reduced monthly fee of $2 if you choose to set up automatic repayments from a CommBank transaction account using AutoPay. Otherwise, the monthly fee is $5 a month, $60 p.a. a year.
Minimum credit limit of $400.
Cheap ongoing purchase interest rate of 9.90% p.a.
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.
Enable for Apple Pay, Google Pay or Samsung Pay.
The cash advance rate of 9.90% p.a. will be blocked if you try to withdraw cash. Certain exceptions apply.
Disclaimer: Reviews rely upon third party information that may not be correct or may be changed without Credit Card Compare’s knowledge. You must carefully consider your own circumstances before making any commitments and confirm all offers and terms with credit card providers before accepting them. Please refer to our T&Cs for more.

The basics

About this card

Card setup
Single
Card tier
Standard
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
$400
Maximum credit limit
$3,000

Repayments

Interest charged from
Purchase date
Interest free period
Up to 55 days on purchases
Minimum repayment
2.00%

Rates & fees

Ongoing interest rates

MonthlyAnnually
Cash advances 0.83% 9.90% p.a.
Purchases 0.83% 9.90% p.a.

Fees

Annual fee
$60 p.a.
Cash advance fee
N/A
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
N/A
Overseas emergency card replacement fee
$20
Transaction verification fee
$0

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
Temporary residents are eligible
Age Pension, Disability Pension and Widower's Pension are acceptable.
Carer's Allowance and Child Support Payments are acceptable.
Joint applications are not allowed
Foster Care Allowance is not 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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