Commonwealth Bank Low Fee Gold Credit Card | Review

Commonwealth Bank Low Fee Gold Credit Card

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purchase rate
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Commonwealth Bank Low Fee Gold Credit Card
Apply by 28 oct 20
13 reviews
Commonwealth Bank Low Fee Gold Credit Card
0% p.a. on purchases for 15 months (terms and conditions apply).
Enjoy $0 annual fee for the first year and for each subsequent year when you spend $10,000 or more in the previous year.
Overseas travel insurance to give you cover for up to 3 months travel.
Add to comparison
5 months
5.99% p.a.
then 21.24%
with a 0% fee
15 months
0% p.a.
then 19.74%
1st year
then $89
saved over 5 months
Similar cards

Pros & cons

What's good?

What's not so good?

0% p.a. on purchases for 15 months when you apply and be approved of this card by 28 October 2020a.
Enjoy $0 annual fee for the first year and for each subsequent year when you spend $10,000 or more in the previous yearb.
Overseas travel insurance to give you cover for up to 3 months travelc.
Pay no international transaction fees for purchases you make overseas or online
Purchase security insurance to repair or replace most purchases if lost, stolen or damaged within 90 days.
Award winning Internet Banking and Mobile Apps to make it easier to manage your account.
PayPass for faster checkout times at the shops.
Enable for Apple Pay, Google Pay or Samsung Pay.
The ongoing interest rates on purchases and cash advances are quite high.
If you have a balance to consolidate, there are more competitive balance transfer rates out there.

 a Available on new Low Fee Gold and Low Rate Gold credit cards when you create an application between 01 November 2019 and 30 June 2020 only. Excludes and all other card types. The 0% p.a. promotional interest rate on purchases is valid for 15 months from the date of card approval (and excludes balance transfers). At the end of the 15month period, the interest rate will revert to the standard variable purchase interest rate for your card at that time. Offer excludes all existing cards, switches from other card types and will not be applied if you switch to a new product during the promotional period, offer can be withdrawn at any time.
Applications are subject to credit approval. Full Conditions of Use will be included in our Letter of Offer. Fees and charges apply.

b CBA will waive your annual fee for the first year, and then continue to waive your annual fee each subsequent year as long as you spend at least $10,000 in the previous year (on purchases and cash advances only). Otherwise, the annual fee is $89.

c If you activate an international travel insurance policy included with an eligible credit card or where a claim event on other insurances occurs on or after 1 October 2018, the insurance is provided by Zurich Australian Insurance Limited, ABN 13 000 296 640, AFS Licence Number 232507 through its agent Cover-More Insurance Services Pty Ltd ABN 95 003 114 145, AFSL 241713 (Cover-More) for Commonwealth Bank of Australia.
Cover is available for you, your spouse and your eligible dependent/accompanied children for return trips from Australia, up to a set period. You need to activate your international travel insurance included with eligible credit cards before each trip in order to have comprehensive level of cover. If you don’t activate, you’ll receive personal liability cover and overseas emergency medical assistance and overseas emergency medical and hospital expenses cover only.
Restrictions, exclusions (including for pre-existing medical conditions and persons aged 80 years or over), limits and excesses may apply to all insurances. More information and the relevant Credit Card Insurances Product Disclosure Statement and Information Booklet can be found here.

Disclaimer (2): 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.

Our review

Our review of the Commonwealth Bank Low Fee Gold Credit CardReviewed by Yvonne Taylor

Would you like a low fee credit card that can fairly easily be a ‘no fee’ credit card, and still enjoy complimentary overseas travel insurance and other complimentary policies, plus the benefits of a long 0% interest introductory period on purchases and a short-term low-interest balance transfer? All of those desirable features and more are combined in the Commonwealth Bank Low Fee Gold Credit Card.

It’s a low fee card, regardless of how much you spend, and it’s free in the first year

The ongoing fee for this card is $89. But in the first year, you’ll pay no fee at all. You could apply and just try it for size, maybe for the sake of the introductory offer on purchases, or the free overseas travel insurance – both would cost you nothing.

But if you manage to reach a spending target of $10,000 with the card, in the second year, and in each subsequent year after you reach the target, there will continue to be no annual fee. At an average spend of $833 per month, it’s quite achievable for most cardholders who channel all their everyday spending through a credit card. If you do it year after year the result is a free credit card with continuing benefits.

There’s no charge for additional cardholders on the account. And if you miss the spending target in any year, $89 is not too much of a shock.

Complimentary overseas travel insurance, every year

CommBank’s overseas travel insurance is not your average credit card product. It differs in several ways – mostly good – and we advise you to read the insurance terms and conditions document very carefully if you’re going to apply for this card.

First of all, there’s no card spending requirement in order to activate overseas travel insurance. Most credit cards demand that you either purchase airfares or spend a specified amount on prepaid trip expenses using the card, for each traveller requiring cover (e.g. $500 per person). But this CommBank card delivers overseas medical expenses and liability cover automatically to the cardholder and accompanying spouse and dependent children.

Secondly, if you want to take advantage of the policy’s other types of overseas travel cover – the cover for baggage, travel delays and rental vehicle insurance excess, for example – you need to activate your cover for each specific journey by contacting CommBank online or by phone.

Finally, the free overseas travel policy does not cover existing medical conditions, or travellers aged 80 or over, or cruise holidays, or adventurous sports (skiing, bungy jumping, scuba diving, white water rafting, &c). These are fairly standard exclusions which are common to the vast majority of credit card travel policies. But CommBank differs yet again in a good way by offering optional policy extensions to remove these exclusions. There’s a premium payable for this, but your cost is likely to be much lower than if you had to start from scratch by purchasing the type of travel policy that covered one or more of these special conditions.

Extended warranty insurance

The manufacturer’s Australian warranty on both personal and business items purchased with the card is automatically doubled, up to a maximum of 12 additional months. Shop with your card and enjoy extra peace of mind.

Purchase security insurance

Although it’s not usually on a credit card applicant’s wishlist, purchase security insurance can provide very useful fallback cover if you are aware of the benefits and remember to use them. Goods purchased with the card are covered for 90 days after purchase against loss, theft or accidental damage, subject to claims value limitations on jewellery, watches and fine arts.

0% p.a. on purchases for a long 15 months

Although this benefit appears well down the list, it could turn out to be one of the most valuable if you are planning major purchases such as home appliances, technology or a holiday. You can use your card for purchases for 15 months and make no repayments (other than the 2% minimum monthly repayments) for 15 months without incurring any interest.

Just make sure you keep an eye on your mounting card balance though, because the total could be quite high after 15 months. You need to be confident that you will be able to repay the total in full at the end of 15 months, to avoid the nasty 19.74% p.a. revert interest rate.

A low interest balance transfer if you need it

You can even have a low interest balance transfer if you need it because you have existing credit card debt subject to a much higher interest rate than the 5.99% p.a. available for five months with this card.

It’s not a great offer when compared with the 26 months at 0% occasionally offered by competing cards, but at least there’s no upfront transfer fee to pay, and it does mean that you might be able to start using your new CommBank card immediately instead of waiting until you’ve paid off your existing debt.

But once again, beware the revert interest rate – in this case 21.24% p.a. – which comes into play if you can’t repay your balance in full at the end of five months.

No overseas transaction fees – great for travellers and online shoppers

Online shoppers and overseas travellers will be glad they chose this card since they can avoid the 2-3% surcharge levied by many cards, on top of the purchase price, for processing overseas transactions. Overseas transactions are defined as transactions where the merchant’s processing takes place outside Australia, even if you’ve paid in Australian dollars, so it’s easy to get caught out. But there’s no need to worry when you use this card.

Lots of built-in tech features

You’ll expect Tap & Go PIN-free transactions under $100, and you’ll get this feature with Mastercard PayPass.

You’ll be able to rely on CommBank’s award-winning internet banking and mobile apps for their functionality, reliability and convenience.

You’ll even be able to pay with your phone or wearable device via Apple Pay, Google Pay or Samsung Pay, since all three are available with this card.

Unpleasant ongoing interest rates

Once the introductory offers on purchases and balance transfers have expired, you’ll want to avoid the card’s unattractive interest rates on purchases (19.74% p.a.) and cash advances (21.24% p.a.).

But why would you want to spoil what can be a free card, with lots of free benefits, by paying interest on overdue balances or cash advances? Find a better way to access cash, extract great value from the up to 55 interest-free days always granted on purchases, aim to pay off your balance in full every month once the introductory offers expire, and you’ll never pay a cent in interest charges.

Take a look at competing cards

Would you like to compare this card’s travel insurance cover with that available on other cards? Check out our ‘Free travel insurance’ page by clicking on the Features drop-down list at the top of this page.

Or maybe you’re more interested in cards that have no annual fee, or the potential for no annual fee like this one? In that case, you need to visit our ‘No annual fee’ page.

Or check out our ‘No foreign transaction fee’ card page if that’s what you find most attractive.

Almost everything you could ask for

Just about the only common benefit missing from this card is rewards points. It has introductory interest rate offers, free travel and other insurance, no foreign transaction fees, no annual fee in the first year and the potential for no annual fee every year. That’s a pretty compelling basket of benefits, so if you can do without rewards points and definitely don’t want to pay for them via a high annual fee, you may find that this credit card is just what you are looking for.

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.

User reviews

3.8 out of 5.0 based on 13 reviews85% of reviewers would recommend this card

Rates and fees
Customer service

Reviews from users

Fee waived for reaching spending target

Reviewed and recommended by Lovish on 28 Apr 2017

The card comes with few rewards options. The only benefit you get from this card is that you get credit of 45 days when spending.

There are few offers with this card. It seems to me that this card is for those who need credit for cigarettes and wine.

The annual cost of this card is low, and if you spend a certain amount the annual fee is waived. So cost wise it is good.

Low fee, useful app for paying with phone

Reviewed and recommended by Darragh on 22 Oct 2016

The Commonwealth Bank credit cards are great in general due to their integration with their app. This allows for people with newer phones to use their card through their phone fairly easily.

The only issue I have had is the actual card itself is not amazingly durable and I had to replace one after it began to crack and eventually stopped working with some machines.

No fees, great deal

Reviewed and recommended by Heather on 20 Sep 2016

There are no fees, It’s a good credit card, and convenient. I love this credit card. It is what it’s supposed to be, a credit card but with no fees attached. How cool is that? Just pay the balance owing on time every month, and you don’t get charged one cent. I can’t believe ii, but it’s true, and I have had it for years.

Generally very pleased with this card

Reviewed and recommended by Brooke on 28 Jun 2016

This is an everyday use credit card with low fees and a good interest rate. I looked at getting a rewards card with the Commonwealth Bank, but the very helpful person I spoke to in the bank showed me the pros and cons. In the end they helped me choose what was the best for me.

OK for what it is

Reviewed and not recommended by Ronaldo on 21 Jun 2016

Fair return for what I am paying. The card has the basics of what I need: low rates, travel insurance, and a good credit limit for my lifestyle. If the credit card had no annual fee, I think that would be the best. I’d also like it if it earned rewards points, for example with Myer.

Pay up, save big!

Reviewed and not recommended by Scott on 23 Sep 2015

Just put $1000 through in your annual anniversary year and you don’t pay the annual fee. Pay it off before due or when due and avoid interest charges. I keep it as a back up card to use if I forget my ATM card or it doesn’t work. Also the limit on this is high enough, so you can book holidays etc.

Low fee card

Reviewed and recommended by Anon on 08 Sep 2015

Low fee card, convenient and our life saver. They have excellent customer service and an easy way of paying bills. This is a very high security credit card that will always ask for additional security to avoid any fraud, which gives us a peace of mind whenever we use it.

Wanting to reduce card amount

Reviewed and recommended by Fiona McCoombes on 15 Jul 2015

I changed to the Low Fee Gold credit card due to the bonus points being offered and Award cards being included with use of the cards. The fees and costs are still quite high though, especially if you’re not able to pay the monthly outstanding payment each month. However, being able to add Award cards to this card is a bonus, along with extended warranty on any item purchased on the card.

Convenient for cashflow

Reviewed and recommended by Aileen Stinten on 29 Sep 2013

I only have a low credit limit, but this is what suits me for my life style I do not like to have a large debt and the low credit limit suits me so I don’t get myself into much trouble in that way. It is convenient if something pops up before pay day.

Got this card

Reviewed and recommended by Sandra on 09 Sep 2013

This card gives me the ability to manage my money on a monthly basis, with low fees. Statements are easy to understand, and the bank abides by it’s promises. It’s awesome for organising and booking travel and it’s great to know I’ve paid before I even leave the country! The bank was very generous with my credit limit and do not hassle me about all sorts of other deals.

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
whichever is greater, $25 or 2%

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers5.99% p.a.5 months0%90% 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
90% of credit limit
Available to existing customers

Banks you can't balance transfer from

You can't balance transfer to the Commonwealth Bank Low Fee Gold 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%90% of credit limit 21.24% p.a.
Purchases0% p.a.15 monthsN/AN/A 19.74% p.a.

Ongoing interest rates

Cash advances 1.77% 21.24% p.a.
Purchases 1.65% 19.74% p.a.


Annual fee
$0 p.a.
Annual fee 2nd year
$89 p.a.
Cash advance fee
whichever is greater, $3 or 3%
Dishonour fee
Duplicate statement fee
Foreign exchange fee
Late payment fee
Over limit fee
Overseas ATM balance fee
Overseas ATM withdrawal fee
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
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
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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People are happy
Rated 4.8 out of 5 for customer satisfaction.
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