Commonwealth Bank Small Business Low Rate Credit Card

Information verified correct on November 27th, 2015

The same competitive interest rate on purchases and cash advances makes the CommBank Low Rate credit card a way to keep your small business flowing

Small business owners can reap the rewards of the Commonwealth Bank Small Business Low Rate credit card. A competitive 14.55% p.a. interest rate on both purchases and cash advances allow you to keep your inventory stocked and your employees paid, even during those slow times.

Product NameCommonwealth Bank Small Business Credit Card - Low Rate
Purchase rate (p.a.)14.55% p.a.
Annual fee$0 p.a.
Cash advance rate (p.a.)14.55% p.a.
Max credit limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
Minimum Monthly Repayment2.5% or $75 whichever is greater
Card TypeMasterCard
Late Payment Fee$20
Foreign Currency Conversion Fee (MC)2.5% of transaction value
Complimentary Travel InsuranceNo
Available To Temporary ResidentsNo
Joint ApplicationNo
Minimum Age18 years of age
Credit Rating RequirementGood
Max credit limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
Annual fee$0 p.a.
Minimum Monthly Repayment2.5% or $75 whichever is greater
Late Payment Fee$20
Over Limit Fee$10
Cash Advance Fee1.5% of Cash Advance amount
Overseas Cash Advance Fee$4 or 1.5% of cash advance amount
Overseas Emergency Replacement$20
Overseas ATM Balance check$1.25
Overseas ATM Withdrawal Fee$4
Foreign Currency Conversion Fee (MC)2.5% of transaction value
Gambling Transactions AllowedNo
Additional Cardholder Fee$0
Number of Additional Cardholders1
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
  • You can choose whether you make the card Personal, Business Liability, or Personal Liability, which essentially means you can choose who you and if and to whom you will delegate spending liability.
  • Cardholders have the option of securing the credit card or keeping it unsecured. If the card is secured against the business there is a credit limit increase of an additional $50,000.
  • There is a $0 annual fee.
  • There are interest free days with this credit card.

Commonwealth Bank Small Business Low Rate Credit Card Review

If you prefer to rack up points to help offset business travel expenses, Commonwealth Bank offers a business awards credit card package. With two cards linked to one account, you can earn 1.00 point for every dollar spent on your MasterCard, and 1.50 points for purchases made with your American Express. Use those points to make your business trips more cost-effective.

If you apply for the Business Low Rate card before the you will be eligible to receive interest-free purchases for up to months. This is one way to make those business purchases you need now and pay them off with your earned business profits, without having to factor in the additional expense of accrued interest.

Benefits of the Commonwealth Bank Small Business Low Rate Credit Card

Complimentary insurances

  • Transit Accident Insurance
    While on a trip, you are covered by up to $250,000 in the event of injury or death while riding in a plane, bus, ferry or train. This insurance only applies if the cost of the trip was paid for using the Commonwealth Bank Small Business Low Rate credit card.
  • Liability
    Depending on how your business is structured, you can choose between business liability or personal liability for your credit card account. Personal may be an option for the small business owner who is responsible for all of the accounts transactions, while business liability might be better for larger companies that hold the business entity at full responsibility for the credit card.

Features of the Commonwealth Bank Small Business Low Rate Credit Card

  • Interest rate for purchases. The money withdrawn as a cash advance will be subject to the same 14.55% p.a. as your purchases will be.
  • Annual fee. There is no yearly charge for using the CommBank Bank Small Business Low Rate Credit Card.
  • Credit limit. Your business can benefit from an unsecured credit limit of up to $50,000 based on your eligibility criteria.
  • Additional card. You are allowed 1 extra cardholder with your Low Rate card.
  • Personalisation. Give your card a professional look by adding your business name.
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How to apply for the Commonwealth Bank Small Business Low Rate Credit Card

You will be asked to supply the following information to ensure that you and your business are eligible for this card:

  • Position. All applicants must either be a business owner, director or partner.
  • Residency. Only permanent residents and citizens of Australia will be accepted for this business credit card.

If you meet the eligibility requirements, continue ahead with the application having the following documentation ready:

  • Business details. Your business name and address as well as any trading name plus a valid ABN will be needed.
  • Income. Your personal income and liability details will also be required in the application.
  • Identification. You must have at least two forms of valid ID. They can include a passport, driver’s license or ID, Australian birth certificate or marriage license.

You need to have a reliable line of credit to help grow your business. Compare this with other credit card offers geared towards small business needs to see if their options can better serve your business.

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29 Responses to Commonwealth Bank Small Business Low Rate Credit Card

  1. Default Gravatar
    Ping | August 27, 2015

    How do you define small business? as the secretary of the company, can I apply for the business credit card or it has to be the director?

    • Staff
      Sally | August 28, 2015

      Hi Ping,

      Thank you for your inquiry.

      Applicants for a business card should be any of the business owners, directors or partners and can submit all requirements including the required signatories who are authorised to handle the account. Applications can be made via online too, please refer to the link I’ve sent on your email with the full list of required documents and identifications.

      Please see this page for the list of considerations on choosing a business credit card.

      I hope this has helped.



  2. Default Gravatar
    Ping | August 27, 2015

    can I apply it on line?

    • Staff
      Sally | August 28, 2015

      Hi Ping,

      Yes, you can apply online.

      I’ve emailed you a link to the online application for your perusal.

      I hope this has helped.



  3. Default Gravatar
    AS | December 30, 2014

    Can ‘Not-for-profit organisations’ apply for this card? Thank you

    • Staff
      Elizabeth | December 31, 2014

      Hi AS,

      Thanks for your question.

      As long as the organisation is still a small business structure you’ll still be able to apply for the card.

      I hope this has helped.



  4. Default Gravatar
    Rose | July 14, 2014

    We have a company which controls our smsf. In our smsf we own a property which we need to buy things for occasionally. Currently we use our personal card to do this but this gets messy remembering to pay ourselves back. We just need a card which has no annual fee as we would pay out full amount each month on due date! The card would be in company name. Can we do this with this card? Thank you .

    • Staff
      Shirley | July 15, 2014

      Hi Rose,

      Thanks for your question.

      No this card is not available as part of your SMSF. Please Susan’s response above.


    • Default Gravatar
      Susan | August 7, 2014

      I am a financial planner and I would like to refer to Roses question re her SMSF
      no you can not get a business credit card as that is seen as a related party if she is a member.
      That is against the SIS Act
      What she could do is set up savings account and get her smsf to pay to that account and pay out only specifically for smsf.
      Hope that helps.

  5. Default Gravatar
    Krystle | January 14, 2014

    Re: Commonwealth Bank Small Business Credit Card – Low Rate. Do I have to have a “Business” to apply for this product? I can’t see this requirement in the Terms and Conditions.

  6. Default Gravatar
    John | June 6, 2013


    I currently own a small pet shop and am currently banking with NAB, my business has only been running since September last year. I am looking for a credit card so I can purchase stock monthly and not use accounts with suppliers.
    My current bank is asking for last 2 years financials even though my business has only been running since September.
    I have my eftpos facilities via NAB but would be will to switch to a bank who will look after me.

    • Staff
      Jacob | June 6, 2013

      Hi John. In the online application for this card, you’re allowed to enter months as an option for the length of time your business has been operating. Please check the review page for information about the other application requirements. If you’re unhappy with the services offered to you by your lender, you can look else where for your banking needs – and hopefully we can provide some information to make it easier – but best to speak to your accountant or a contact at your lender about business banking. Thanks for the question.

  7. Default Gravatar
    Allan | May 14, 2013

    1) Can I nominate the maximum level of credit, i.e. say $3,000.00?
    2) How is the interest calculated, e.g. for $1,000.00 credit at 14.55% for 7 days?
    Would it be $1,000 x 14.55% x 7/365?

    • Staff
      Jacob | May 15, 2013

      Hi Allan. Thanks for writing in to us with this question. This page answers the question about how credit card interest is calculated. You can elect a credit limit when you apply for the card; however, the final say will rest with the lender. If they don’t approve the requested limit, they will assign one based on what they think you can service. Jacob.

  8. Default Gravatar
    Daniel | May 8, 2013


    Does this card no have any interest free days on the purchases?

    • Staff
      Jacob | May 8, 2013

      Hi Daniel. Thanks for your question. This card does not currently have any interest free days when you make a purchase. Jacob.

  9. Default Gravatar
    Debbie | November 13, 2012

    Is there a fee for additional cardholders?

  10. Default Gravatar
    Nick | November 7, 2012

    I run a small plumbing business. Can I require 2 cards so I can separate my business expenses form private.

    • Staff
      Jacob | November 8, 2012

      Hi Nick. Thanks for your question. Please refer to the business credit card comparison page, these cards allow you to issue additional cardholders and have separate entries for each card’s spend – just be sure to look at the T&C’s first. Cheers.

Credit Cards Comparison

Rates last updated November 27th, 2015
Purchase rate (p.a.) Cash advance rate (p.a.) Balance transfer rate (p.a.) Annual fee
St.George Vertigo Platinum
A platinum card with a low interest rate on balance transfers and purchases with a low annual fee.
0% p.a. for 3 months (reverts to 12.74% p.a.) 21.49% p.a. 0% p.a. for 20 months $99 p.a. Go to site More info
NAB Premium Card
Long term balance transfer offer with premium benefits such as travel insurance.
0% p.a. for 15 months (reverts to 19.74% p.a.) 21.74% p.a. 0% p.a. for 15 months $90 p.a. Go to site More info
HSBC Platinum Credit Card
Earn 1 Rewards Point per $1 spent plus a balance transfer offer. Access Platinum benefits with personal concierge service, complimentary travel insurance.
19.99% p.a. 21.99% p.a. 0% p.a. for 8 months $0 p.a. Go to site More info
Citi Rewards Credit Card - Classic Card
Earn up to 20,000 bonus points with 2 points for every dollar spent in the first three months. Also enjoy 0% p.a. on balance transfers for 12 months.
20.99% p.a. 21.74% p.a. 0% p.a. for 12 months $0 p.a. annual fee for the first year ($89 p.a. thereafter) Go to site More info
American Express Velocity Escape Card
Enjoy 7,500 bonus Velocity Points and earn 2.00 points for every $1 you spend, together with a $0 annual fee. Also receive 0% for 12 months on balance transfers. Offer ends on 2 February 2016.
20.74% p.a. 0% p.a. for 12 months with 1% balance transfer fee $0 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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