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Commonwealth Bank Low Fee

Commonwealth Bank Low Fee

3.7 from 16 reviews

See the Best Low Rate & Zero Interest Credit Cards in 2019 as rated by Australians on ProductReview.com.au.

Details

Commonwealth Bank Low Fee
CategoryLow Rate & Zero Interest Credit Cards and Balance Transfer Credit Cards
Card TypeMastercard
BenefitsReduced First Year Annual Fee
Minimum Credit Limit $500
Maximum Credit Limit $50,000
Minimum Income $15,000
Additional Cardholders 1
Additional Cardholder Fee $0 p.a.
Minimum Repayments2%
Contactless PaymentsApple Pay, Fitbit Pay, Garmin Pay, Google Pay and Samsung Pay
Rates & Fees
Purchase Rate19.74% p.a.
Cash Advance Fee2%
Late Payment Fee$20
Annual Fee$0 p.a.
Foreign Transaction Fee 3%
Overseas ATM Withdrawal Fee$4
Interest Free Period 55 days
Cash Advance Rate21.24% p.a.
Introductory Offers
Reduced First Year Annual Fee $0.00
Balance Transfer Rates
Balance Transfer Period 5 months
Balance Transfer Rate 5.99% p.a.
Balance Transfer Fee 0%
Release dateJun 2007

Visit official website

Love the credit card and the low (or no) annual fee

This was the first and the only credit card that I have ever applied for. I got approved in a matter of days and the card was shipped to me promptly. Didn't have any trouble activating the card. Now, I and my husband use the card on a day to day basis. It covers our general expenses. The credit limit that they provided is enough for us for now but we do think about increasing it in the future. Right now, the credit card provides everything that we need regarding managing our funds. They also notify us about paying our credit on time so that we don't have to pay extra fees. Another thing that I love about this card is the fact that the annual fee can be waved if we meet the spend criteria and it is really easy for us to meet. Thanks Commbank.

Transparency
Customer Service
Rates and Fees
Online Experience
Application Process
Card Start DateMay 2019
Card / Account Used ForEveryday Expenses, Online Shopping and Special Purchases

This ia a perfect card for day to day activities

We use Common wealth Bank credit card for everyday routine transactions and we found it really usefull. We highly recommend this card to everyone. A simple low fee card to maintain our routine shoppings.

Transparency
Customer Service
Rates and Fees
Rewards
Online Experience
Card Start DateJune 2016
Main Point of ContactPhone
Card / Account Used ForEveryday Expenses and Online Shopping

Long term user. The best thing is the app - it makes it super easy to manage the card.

I have used this card since June 2015. I never used it overseas but I did use to buy items from international vendors. It's super easy to transfer credit from my savings account to this credit card using the Comm Bank app. I'll add a few comments:
1. I had lost the card and it took just 2 business days to replace. I reported it lost online and I was surprised to receive a new card in my mailbox within two days. So good!
2. I did notice that the charge for international payments is a bit high, especially for higher transactions.
3. There is a cash advance fee for using the card to buy lottery online. I was not aware of this (the lottery website didn't inform me nor did my bank) so I was a bit surprised to see $5 charge for a one-off deposit of $5 to my lott account.

Transparency
Customer Service
Rates and Fees
Online Experience
Application Process
Card Start DateJune 2015
Main Point of ContactOnline
Card / Account Used ForEveryday Expenses, Online Shopping, Overseas/Travel and Special Purchases

The fee is not that LOW

The exchange fee when using it abroad when traveling is not as LOW as other card like INGs Direct card. Also the currency exchange rates is on the higher side of other credit cards I have.

Transparency
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Application Process
Card Start DateDecember 2017
Card / Account Used ForOnline Shopping and Overseas/Travel

Great card, great app, service meh

Card is advertised as low fee ($29) but if you spend at least $1000 annually with it, there are no annual fees. As with most mastercards, it also incurs a 3% charge for international payments (made in international currencies or sometimes those processed by international companies in aud). I don't use this card for international shopping anymore though as there are other companies without an international transaction fee.

I use this card mainly for online shopping, because I keep a low balance on it and if it gets stolen online, it's credit card MasterCard guarantee means CBA will dispute charges on my behalf of the are unauthorised transactions or transactions where I don't receive goods as described etc, where seller is a large store.

Late payment fees of $20 seem standard, and teaches me to be organized with my money. Interest rate after 55 days is around 20%.

The CBA app is amazing, and pretty much a market leader, though I find ING is pretty close behind, albeit uglier layout.

You can lock, cancel, or lock card from international online transactions/international in store transactions (for specified times of indefinitely) so I find this my most secure card. I leave mine locked to int transactions, then turn on for an hour when I use it online.

Service from the Commonwealth Bank used to be very good but in the last 4 years it's been horrible. Happened round about the time they opened up a new call centre around 2015, and started mass hiring Tbh. Still crap now. Almost everyone I speak to gives me misinformation and I have to call back to verify or ask other things as my query wasn't resolved. A few times I've had to involve their manager as they were incorrect, rude AND stubborn about being wrong.

However, I still use the card due to good their app is, and the no-fee if spending $1000+, which easily can be done.

Transparency
Customer Service
Rates and Fees
Online Experience
Application Process
Main Point of ContactPhone
Card / Account Used ForEveryday Expenses, Online Shopping and Special Purchases

Basic credit card

The card offers basic services like 55 days interest free payments, payment protection, overseas service and an application where you can monitor your purchases. They could have added an awards program with it.

Transparency
Customer Service
Rates and Fees
Rewards
Online Experience
Main Point of ContactOnline
Card / Account Used ForEveryday Expenses

They are alright, But if you overdraw and cant pay back straight away you get harassed with an automated robot.

Overdrew my card by accident when i was struggling over Christmas since then i can receive upto 3 calls a day from a private number which is commonwealth banks automated robot calling me Sometimes it can be more.
When i first applied it was because I was told it was the only way to actually get a credit rating. I just wanted $1500 i wasn't even going to use it. Then all of a sudden they had applied for another credit card for me and cancelled my other application. I was like okay because i went in and talked to someone. Anyways it was approved and they had given me a $5000 credit card. Being a 19 year old mum with 2 kids i thought that was ridiculous.

Transparency
Customer Service
Rates and Fees
Online Experience
Application Process
Card Start DateNovember 2015
Card / Account Used ForEveryday Expenses

Good card but be careful of fees and online fraud

This is a no fee card providing you spend a $1000 annually with it and pay due amounts within 55 days. If you do not spend more than a $1000 annually then this card incurs a $29 annual service fee. This card also incurs a 3% charge for payments made in international currencies. I use this card mainly for purchasing items online from reputable established company's. Be warned this card only provides protection against, like most credit cards, unauthorised fraudulent charges. If you buy something online and get duped then there are no protections given by purchasing with this credit card. You have to file a complaint with your bank, costs a lodgement fee, and then your bank will contact the defaulting parties bank and request a funds reversal which then has to be approved by the account holder who defrauded you in the first place, like to guess the chances of this being successful?
The current interest rate for outstanding amounts not paid within 55 days is 19.74%. If you don't pay the minimum monthly amount by the due date there is a late payment fee of $20 plus interest incurred. At this rate charges can accumulate quickly so good advice would be to pay out the card monthly before the due date.
The service from the Commonwealth Bank is very good and the banks website for managing this card online is good but could be improved. In summary this is a good credit card if you need one for online purchases or as a backup for emergencies, providing you make repayments regularly and within the 55 days interest free limit.

Transparency
Customer Service
Rates and Fees
Online Experience
Application Process
Main Point of ContactPhone
Card / Account Used ForOnline Shopping

Works for me.

Easy to use. Love the online and feel secure and love there fraud squad. I am a Google play user and purchase a lot of things with this card on Google Play. I was buying a family member some Apple credit online via iTunes. Within 60 seconds of the transaction clearing I received a phone call from a Commonwealth bank fraud squad member enquiring if I did the purchase. I advised yes. And enquired what prompted the call. She advised systems flagged it as I purchase from Google and never have from Apple. I was impressed

Check your statement carefully!

Overall I'm happy with this card, I pay the balance in full each month so don't care about the interest rate, only care that it has no annual fee if you spend at least $1000 a year on it, which I do anyway.

So I was not happy to see on my latest statement an annual fee of $29.00, especially as the same thing happened a year ago. Rang them and told them my problem, the guy who answered checked and said I'd only spent (about) $160. Told him I had my latest statement in front of me where the balance due for the month was over $1400. He put me on hold for a while... when he came back he was very apologetic and said I would be credited the $29 and said something about "system error"..... as it's happened two years in a row I can't help wondering if they do it on purpose, hoping it won't be noticed??!!

I guess I shouldn't complain as effectively I have a free credit card - just so long as I don't mind spending an age on hold when I ring up each year about the incorrectly charged annual fee!


Good

Overall this product is a great everyday credit card, wish it had a rewards program though, seems to be the only thing lacking with this card
* Accepted Everywhere
* Contact-less payment support (paypass)
* very sleek transparent design
* low annual fee (waived if you spend over $1,000 a year) basically no annual fee for most who use it
* No hidden costs
* No rewards program


OK

The low fee credit card is a great option for those looking to get a credit card without having to pay for all the bells and whistles. As many people do not want things like a rewards program or travel insurance, it is great that a low fee option is available. It is easy to increase or decrease your credit limit to suit your needs and if you are a Commonwealth Bank account holder, you can pay your bill through Netbank. The interest rates are high as with all credit cards, but if you pay off your bill each month, this should not be a problem. It's a good credit card for those who are just looking for the basics and a low price.
Accepted in many places, Low annual fee
Overdraft fees are quite expensive so be careful that you don't go over your limit


Terrible

Not impressed and I showed them the dust from my shoes. Boy did I get their attention then. They tried to cut the interest rate and everything to make me stay, but I won't go back, they're too expensive and there's a lot better out there if you take the time to look.
The pretty blue card.
When I got this card there was no cheap incentives, but that was quite a while ago.
I hit the ceiling when I got a statement one month and realized I had to pay an annual fee of $24. I don't believe I should have to pay that when I was paying something like 16% interest. In fact, all my dealings with the Commonwealth Bank have been slow, protracted and they use dinosaur technology. Compared to other banks (and I worked in a few for 20 years) I don't know how they stay in business.


OK

This is a great basic credit card, minimal whistles and bells, but reasonably low fees. I guess, what else can you say about it? Just a card like all the others, the only thing that swayed me was the fee structure on it - if you need a credit card, I guess just weigh up the fees and how much you are willing to pay!
Low fees

Excellent

I was very impressed with the reliability and interest rates and they offer you small and large limits so it suits everybody. I think it is a really good card.
The annual fee is amazing I can't believe how cheap it is and it is a great first credit card because it comes with no hidden catches what you see is what you get. You can also have an additional card holder for no extra charge so if you both use it then you can save on the annual fee for one of you.
It does cost extra to get the second card user a card and it makes it a little to easy to spend money.

Good

For me, this card is great. I always pay the amount owing before the due date and do not incur a fee. This card suits my needs well.
most things

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