Commonwealth Bank Low Rate Gold Credit Card

Commonwealth Bank Low Rate Gold Credit Card

Balance transfer

5 months at 5.99% p.a.

Purchase rate

15 months at 0% p.a.

Annual fee

$89.00 p.a. ongoing

Highlights

  • Low ongoing purchase interest rate of 13.24% p.a.
  • 0% p.a. for 5 months on balance transfer (reverts to 21.24% p.a.)
  • Up to 55 days interest-free on purchases

Pros and cons

Pros

  • Low ongoing purchase interest rate of 13.24% p.a.
  • 0% p.a. for 5 months on balance transfer.
  • Includes international travel insurance.

Cons

  • No rewards program.
  • There is a 3% international transaction fee.
  • New applications for this card have been stopped

Our review

Convenience

Customer service

Rates and fees

Rewards

Trust

The basics

  • Additional cardholders. This card supports up to one additional cardholder for no extra cost. As the account holder, you will be responsible for all activity on the account.
  • Digital wallets. This card is compatible with digital wallet technologies including Apple Pay, Google Pay, and Samsung Pay.
  • Gambling transactions. The Commonwealth Bank Low Rate Gold Credit Card cannot be used to make gambling related transactions.

Rewards and benefits

  • Complimentary travel insurance. The Commonwealth Bank Low Rate Gold Credit Card comes with complimentary international travel insurance. In order to be eligible for cover, the card must have been used to pay for a portion of the trip prior to departure. Eligibility criteria apply.
  • Concierge services. The Commonwealth Bank Low Rate Gold Credit Card does not include a concierge service.
  • Rewards points. This card does not have a rewards program. However, it does offer its customers 0% p.a. on balance transfers for the first 18 months and low ongoing interest rates.
  • Sign-up bonus. There is no sign-up bonus for this card at this time.

Rates and fees

  • Annual fee. The annual fee for this card is $89 per annum.
  • Balance transfers. The Commonwealth Bank Low Rate Gold Credit Card offers a balance transfer of up to 90% of your approved credit limit for a period of 5 months. The balance transfer rate is 5.99%, reverting to the standard purchase rate (currently 21.24%) after the promotional period ends.
  • Cash advances. This card has a cash advance rate of 21.24% p.a., and interest will be charged immediately on any cash advances you make. A cash advance fee of 3% (min $3) will apply to any cash advances made with this card.
  • Foreign exchange fee. No foreign transaction fees are charged for purchases made overseas or online in a foreign currency.
  • Interest-free period. Enjoy up to 55 days interest-free on all purchases (except cash advances) when you have paid your previous balance in full or made the minimum required payment.
  • Purchases. Get 15 months at 0% p.a. on purchases with the Commonwealth Bank Low Rate Gold Credit Card. After the introductory period, the ongoing interest rate of 13.24% p.a. will apply to purchases.

account

Reviewed by Credit Card Compare Staff

User reviews

Convenience

Customer service

Rates and fees

Rewards

Trust

Wish this card had rewards

Reviewed by Sinead


Very convenient

Reviewed by Samantha


Free travel insurance with this card

Reviewed by Pam


Free travel insurance not for over 80

Reviewed by Barbara Fehmel


Generally pleased with the card

Reviewed by Diana Aleksovska


Travel insurance

Reviewed by Barbara Fehmel


Pleased with my card

Reviewed by Kallie


Excellent customer service

Reviewed by Caitlin


It is a low rate but...

Reviewed by Graham


Convenient no-frills card

Reviewed by L.E.


No fees at all

Reviewed by Jose


Better interest rate plus rewards

Reviewed by Linda


A fair, low-rate card with free travel insurance

Reviewed by Matt


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