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Commonwealth Bank Low Rate Gold

Commonwealth Bank Low Rate Gold

3.4 from 7 reviews

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


Commonwealth Bank Low Rate Gold
CategoryLow Rate & Zero Interest Credit Cards
Card TypeMastercard
BenefitsCashback Offer, Complimentary Travel Insurance and Sign-Up Bonus Points Offer
Minimum Credit Limit $4,000
Maximum Credit Limit $50,000
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 Rate13.24% p.a.
Cash Advance Fee2%
Late Payment Fee$20
Annual Fee$89 p.a.
Foreign Transaction Fee 3%
Overseas ATM Withdrawal Fee$4
Interest Free Period 55 days
Cash Advance Rate21.24% p.a.
Introductory Offers
Sign-Up Bonus $200 Cashback when you apply by 31 July and spend $500 by 31 October
Release dateJul 2011

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This card is ok

I got this card so the bank pays for my expenses with day to day living. I put my salary into my offset which is nice. Then just before I accrue interest I pay it off from my mortgage offset account from another bank

What I like -

* Its low rate
* Big bank - lots of support
* I missed a payment once - got a $50 fee. Explained to commonwealth I forgot and paid it immediately and they waived the fee

What I don't like

* Its a month interest free. With up to 55 interest free days. What does "up too" mean? When is a purchase 30? When is it 55? When is it somewhere in between?
* Interest rate is now 13% . It was 11% when I started. Reserve bank rates have come down, why has this gone up? I don't pay interest on it because I pay it off before its a thing. But still the principal of it is annoying. How can banks charge this level of interest? Makes me feel good that im giving them nothing and using their money to offset my mortgage
* Commonwealth are super annoying when you go into make an enquiry. They try and up sell. I came up with a new rule that every time they asked to up sell me something I would take a product off. I took off credit card insurance once. Sent them into disbelief. It would be good if more bank customers did that - plug them with negative feedback when they try and sell.

There is nothing fancy about this card. No points, no bonuses. Im not really into that. I like the simplicity. Given I pay it off all the time perhaps I should be? Perhaps they could help pay off my mortgage and give me free stuff.

Customer Service
Rates and Fees
Online Experience
Application Process
Card Start DateJune 2005
Main Point of ContactOnline
Card / Account Used ForEveryday Expenses, Online Shopping, Overseas/Travel and Special Purchases

Low rate with comprehensive international travel insurance

Great credit card for day to day use. Purchase interest rate is just 13.34% p.a and 55 days interest free which are really good.

This credit card comes with comprehensive international insurance cover. I have used it twice. Really easy to activate before flying overseas. Best part of this cover is available for not only the card holder, but for the spouse and kids (up to 10).

I highly recommend Commonwealth Bank Low Rate Gold credit card.

Customer Service
Rates and Fees
Online Experience
Application Process
Card Start DateJuly 2016
Main Point of ContactBranch
Card / Account Used ForEveryday Expenses and Online Shopping

Great card, works well and really pleased with a low rate on purchases

I have been a customer of CBA for a long time and changed to this card from a standard low rate card as a complimentary bonus offer with complimentary travel insurance and no extra annual fees. I have not used the travel insurance but planning to use it for my upcoming trip to Europe later this year. I am very pleased with the interest rate of 12 %, it is very competitive and would suit someone who does not pay their credit card in full every month, I would recommend this card, it works for me and would work for others too.

Customer Service
Rates and Fees
Online Experience
Application Process
Card Start DateNovember 2018
Main Point of ContactOnline
Card / Account Used ForOnline Shopping, Overseas/Travel and Special Purchases

Low rate but that's it

Low rate card for purchases but very high cash advance rate. Also can't be lowered beyond $2500. Standard low rate card is a better option with $10 lower yearly fee

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

A great, hassle free credit card with a few bonuses

I changed to this card in March this year, choosing to consolidate two cards into one. This Low Rate Gold cards has a reasonable credit limit, low interest rate and low annual fee as well. There are no excess fees when using it overseas - other than the normal international transaction fee - and you get travel insurance included, which was an automatic saving of over $150 for me. The staff at the bank are always friendly and don't try and push increased credit limits, and their online banking system is the best I've seen. Highly recommended and great product.

New to card, so far good

Includes free travel insurance, but not when you are over 80 or have minor pre existing health conditions,
additional cost (not cheap) handled by Alliance, 5 weeks Europe nearly $ 900

Until today was happy customer BUT FEATURES ARE TOTALLY WRONG & MISLEADING!!

Features in the website and brochure, says a lot but there's a hidden cost, which is not even mentioned in the terms and conditions which is available in online and Hard copy brochure. So Be careful, if you are attracted towards it due to its attractive features from online, word of mouth and etc.
Thought good to have 1 now totally confused!!
Misleading terms and conditions, didn't find the excess fee even while went through all the available online BANK'S T&C's thoroughly(each and every word)

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