CommBank Low Rate Card

Get up to $400 cashback, with a $6 monthly fee which adds up to $72 per year.

The CommBank Low Rate Card gives you a way to save on interest costs with its low ongoing variable purchase rate of 13.99% p.a. If you apply and get approved, you can get $100 cashback each month when you spend $500 or more per month for the first 4 months (up to $400 cashback).

After the introductory period, the 13.99% p.a. interest rate for purchases is on par with other low rate credit cards. The $6 monthly fee, which adds up to $72 each year is also similar to other low rate cards. But it doesn’t offer perks like points or included insurance, so it’s more suited to people who just want the basics.

Pros

Cons

• Our verdict
• Details
  • Product details
  • Eligibility
  • Rewards
  • Fees

  Details

  Product details

  Purchase rate p.a. Up to 55 days on purchases

  Eligibility

  Available to temporary residents	Yes - Conditions apply
  Joint application	No

  Rewards

  Bonus points

  N/A

  Fees

  Annual fee Foreign currency conversion fee

  How to apply

  You can apply for the CommBank Low Rate credit card online. Before you get started, check if you meet the eligibility criteria and that you have the key details and documents needed to complete your application.

  Eligibility criteria

  • Age. You must be at least 18 years old to apply.
  • Residency and work status. You must have the right to work in Australia.
  • Credit history. You'll need to have a good credit history with no current bankruptcies. You can get your credit score and copy of your comprehensive credit report for free through Finder.

  Required documents

  • Personal information. This includes your full name, date of birth, residential address, contact information, marital status and number of financial dependents.
  • Proof of identification. You'll be asked to verify your identity with your Australian drivers licence, passport or Medicare card.
  • Income and employment. Confirm your current employment and annual income, plus provide recent payslips.
  • Finances. This includes any assets such as savings or investments and any liabilities including existing debts or loans.
  • Visa. If you're a temporary resident, you'll need to provide your visa details.

  Card benefits

  • Up to $400 cashback. This card offers $100 cashback each month when you apply, get approved and spend $500 or more on eligible purchases for the first 4 months. Eligible purchases cover most everyday spending but exclude cash advances and account fees.
  • CommBank Yello Cashback Offers. This customer recognition program gives you access to cashback offers through the CommBank app. Right now, new customers who are in a CommBank Yello tier (Everyday, Everyday Plus or Homeowner) will receive $100 cashback each month when you apply for the CommBank Low Rate Credit Card and spend at least $500 per month within the first 4 months from card approval (up to a maximum total of $400 cashback).
  • Lock, block and limit your account. If your card is lost or stolen, you can place a temporary lock on the account to protect your finances. You can also lock your card from making transactions such as international payments or ATM cash advances to avoid extra card costs. To keep your spending in check, you can set limit spend per transaction and spending caps on your account.
  • Mobile wallets. You can link your account with Apple Pay, Samsung Pay or Google Pay to use your smartphone to tap and pay. You can also use Fitbit Pay or Garmin Pay to make contactless payments with your fitness tracker.
  • Emergency assistance overseas. If your card is lost, damaged or stolen, you can take advantage of 24/7 emergency overseas assistance with Mastercard Global Service.

  Rates & fees

  • Monthly fee. The CommBank Low Rate credit card charges a monthly fee of $6. This could add up to a total of $72 per year.
  • Purchase rate. This card charges a 13.99% p.a. variable interest rate for purchases.
  • Interest-free days. If you pay your balance in full by the statement due date, you can take advantage of up to 55 interest-free days on purchases.
  • Cash advances. If you use your card for cash advances, such as ATM withdrawals, you'll attract the 21.99% p.a. interest rate and be charged the cash advance fee of 2% or $25, whichever is greater.
  • International transaction fees. If you use this card to spend overseas or shop online with an international merchant, you'll be charged a 3.5% international transaction fee.
  • Credit limit. You can request a credit limit as low as $500.
  1. CommBank Low Rate credit card information PDF
  2. CommBank Low Rate credit card TMD

  Your reviews

  Ask a question

  To ask a question simply log in via your email or create an account. Ask a question Amy Finder Editor Hi there, looking for more information? Ask us a question.
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  I am retired and on a pension can i obtain a credit card?

  Amy Bradney-George Finder

  If you meet the eligibility requirements, you will be able to apply for a credit card. Finder’s guide to credit cards for pensioners has more details that may be of assistance when you’re comparing cards. I hope that helps.

  How long must you be employed to qualify?

  Thank you for getting in touch with Finder.

  It did not indicate the length of required employment, however if you’ve just started a new full-time job, you need to provide proof of at least 12 months income of your previous employment.

  I hope this helps.

  Thank you and have a wonderful day!

  January 29, 2018

  What are eligible purchases?

  February 07, 2018

  Thanks for leaving a question on finder.

  Eligible purchases are generally defined as everyday purchases which involve the exchange of a good or service for a payment. Transactions that do not qualify as eligible purchases generally include balance transfers, cash advances and any purchase that is reversed or refunded

  I hope it helps.

  December 12, 2017

  I just want to know, on commonwealth low rate credit card there is an offer of 300 cash back after spending 1000 within 90 days. So my question is if i buy electronic device like laptop mobile phone the offer is still there or it is on some particular type of shopping

  Harold Jacob Finder

  December 13, 2017

  Thank you for your inquiry.

  You can get the cashback offer if you can meet the eligible purchases include BPAY transactions and payments to the ATO but excludes balance transfers and cash advances.

  I hope this information has helped.

  What is the lowest annual income rate to eligible for the credit card? I am working as casual so am I eligible? Thanks.

  There is no specific annual income and employment type in their application form or in the website. However, most card issuers are looking at $15,000 or better. To learn more, you can read more about the credit card minimum income requirements for application.

  You can contact your card issuer for this matter.

  Hope this helps.

  Show more comments

  Amy Bradney-George was the senior writer for credit cards at Finder, and editorial lead for Finder Green. She has over 16 years of editorial experience and has been featured in publications including ABC News, Money Magazine and The Sydney Morning Herald. See full profile

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