Offer
Card features
international travel insurance
interstate flight inconvenience
personal item theft cover
Apply
Commonwealth Bank Low Rate Gold Credit Card
Get $200 cashback when you apply by 28 October 2020, are approved and spend $1,000 on eligible purchases using your new card by 31 January 2021.
$89 p.a. annual fee.
Low ongoing purchase interest rate of 13.24% p.a.
Add to comparison
Yes
No
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Pros & cons
What's good?
What's not so good?
Get $200 cashback when you apply by 28 October 2020, are approved and spend $1,000 on eligible purchases using your new card by 31 January 2021.
$89 p.a. annual fee.
Low ongoing purchase interest rate of 13.24% p.a.
Overseas travel insurance to give you cover for up to 3 months travelb.
Award-winning Internet Banking and Mobile Apps to make it easier to manage your account.
PayPass for faster payments at the shops.
Enable for Apple Pay, Google Pay or Samsung Pay.
If you have a balance to consolidate, there are more competitive balance transfer rates out there.
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
3.7 out of 5.0 based on 13 reviews92% of reviewers would recommend this card
Rates and fees
Rewards
Customer service
Convenience
Trust
Reviews from users
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.
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.
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.
Convenient no-frills card
Reviewed and recommended by L.E. on 04 Jul 2016
This is my only credit card. I am relatively happy with it. Worth looking at if you want a no-frills card and like the Commonwealth Bank.
MasterCard is widely accepted, so is convenient for in-store and online purchases. It also has security features, and is handy for travellers going overseas.
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.
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.
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.
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.
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.
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
Single
Card tier
Gold
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
Eligible (more details)
Rewards program
None
Temporary residents
Yes
Cardholders
Additional cardholders
1
Additional card fee
$0 p.a.
Credit limits
Minimum credit limit
$4,000
Maximum credit limit
$50,000
Repayments
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 rate | Period | Fee | Limit | Revert rate | |
|---|---|---|---|---|---|
| Balance transfers | 5.99% p.a. | 5 months | 0% | 90% of credit limit | 21.24% p.a. |
Balance transfers to this card
Balance transfer earns rewards
No
Balance transfer fee payment due
First statement
Balance transfer from personal loan
No
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
No
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
- Commonwealth Bank
Rates & fees
Promotional interest rates
| Interest rate | Period | Fee | Limit | Revert rate | |
|---|---|---|---|---|---|
| Balance transfers | 5.99% p.a. | 5 months | 0% | 90% of credit limit | 21.24% p.a. |
| Purchases | N/A | N/A | N/A | N/A | N/A |
Ongoing interest rates
| Monthly | Annually | |
|---|---|---|
| Cash advances | 1.77% | 21.24% p.a. |
| Purchases | 1.10% | 13.24% p.a. |
Fees
Annual fee
$89 p.a.
Cash advance fee
whichever is greater, $3 or 3%
Dishonour fee
$0
Duplicate statement fee
$0
Foreign exchange fee
0%
Late payment fee
$20
Over limit fee
$0
Overseas ATM balance fee
$0
Overseas ATM withdrawal fee
$0
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
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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