Commonwealth Bank Small Business Low Rate Credit Card

Posted April 3rd, 2012 and last modified May 20th, 2014
Commonwealth Bank Small Business Credit Card - Low Rate Find out more Apply now
What happens when I click Apply Now?
  • Clicking Apply will take you to your Online Application on the bank's website. You do not need to be an existing customer of this bank to apply.
  • Your application will typically take you no more than 10-15 minutes to complete
  • Once approved, you will typically receive your credit card within 1-2 weeks
Click here to start your application >>
Related Products
Rates last updated July 28th, 2014.

Helping you do business, with everyday low rates and no annual fee

Designed especially for small to medium businesses, the Commonwealth Bank Business Low Rate Credit Card offers a range of great benefits for business owners, with no annual fee and a low 0% p.a. for 10 months (reverts to 14.55% p.a.) purchase rate.

With up to $50,000 credit for personal liability (based on eligibility criteria), the Business Low Rate Credit Card helps you keep your cash flow moving, so you can get the most from your business.

About the Commonwealth Bank Business Low Rate Credit Card

Here’s what you need to know about the Commonwealth Bank Business Low Rate Credit Card:

Product NameCommonwealth Bank Small Business Credit Card - Low Rate
Interest Rate on Purchases0% p.a. for 10 months (reverts to 14.55% p.a.)
Annual Fee$0 p.a.
Interest Free Period on Purchasesup to 0 days
Interest Rate on Cash Advances14.55% p.a.
Minimum Monthly Repayment2.5%
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

Extra benefits

  • Transit accident insurance. Receive cover up to $250,000 for goods that damaged while being transported.
  • Personal or business liability. Choose whether you or your business will be liable for spending on your card.
  • NetBank and Commbiz access. Keep up to date with access to your accounts 24-hours a day, seven days a week.
  • Contactless payments. Tap and go for purchases up to $100, with MasterCard PayPassTM.
  • Extra security. Feel safe with a chip on every card and a 100% money-back guarantee on fraudulent transactions (provided that you have complied with the credit card conditions of use).
  • Rewarding business program. Access a range of corporate benefits including discounts on a range of essential business purchases.

Rewarding business program:

The Commonwealth Bank Rewarding Business Program gives cardholders access to a range of corporate benefits offering discounts on your essential business purchases.

Partner rewards include:

  • Commonwealth Bank offers gift cards for major retailers.
  • Discounts on electronics from leading brands like Dell.
  • Freight and toll discounts.
  • Discounts on Australian wine from Cellarmasters.

How to apply:

Successful applicants will typically receive their card within two weeks of the application being received. The application should take between 10 and 20 minutes and can be done easily and securely online. Click the apply now button to be redirected to a secure online Commonwealth Bank application page.

Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating RequirementGood
Annual Fee$0 p.a.
Minimum Repayment2.5%
Late Payment Fee$20
Over Limit Fee$0
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$4
Foreign Currency Conversion Fee (MC)2.5% of transaction value
Gambling Transactions AllowedNo
Additional Cardholder Fee$0
Number of Additional Cardholders1
Pros
  • 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.
Cons
  • There are 0 interest free days with this credit card.
Rewards Points per $ (VISA/MC)0.00
Rewards Points per $ (AMEX)0.00
Points ExpiryNever
Was this content helpful to you? No  Yes

Ask a Question

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

22 Responses to Commonwealth Bank Small Business Low Rate Credit Card

  1. 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.

      Yes, this card can help you separate your business expenses from your personal expenses. Please note that the success of your application cannot be guaranteed.

      Best of luck!

      Cheers,
      Shirley

  2. 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.

  3. Default Gravatar
    John | June 6, 2013

    Hello,

    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.
    Regards
    John

    • 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.

  4. 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.

  5. Default Gravatar
    Daniel | May 8, 2013

    Hi,

    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.

  6. Default Gravatar
    Debbie | November 13, 2012

    Is there a fee for additional cardholders?

  7. 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.

  8. Default Gravatar
    Tennille | November 7, 2012

    Hi, im a single parent, who is just staring up her own business, i have no debts nor bad credit rating, would i be eligible for any type of card to help boost my career?

    • Default Gravatar
      Adrian | November 7, 2012

      Hi Tennillle,
      To apply online, you will need:
      Your business details including a valid ABN
      Your personal income, expense, asset and liability details
      To be an Australian citizen or permanent resident

      Your online application will then be fed through CBA’s vetting process.

      Thanks for your question.

  9. Default Gravatar
    Sally | September 7, 2012

    What is the % charged for foreign currency transfers. I need to know all hidden charges relating to overseas travel as this is what I am using the card for

    • Default Gravatar
      Adrian | September 7, 2012

      Hi Sally,
      Here are Commonwealth Bank’s standard international transaction fees:
      - Transactions converted by MasterCard® or Visa: 3.00%
      - Transactions converted by American Express® : 2.00%
      - Transactions overseas but in Australian dollars: 2.00%
      I hope this helps

  10. Default Gravatar
    Parker | August 10, 2012

    What is the maximum cap on the annual percentage rate for this Mastercard credit card?

    • Staff
      Jacob | August 10, 2012

      Hi J. Please refer to the product table for information on the cash advance and purchase rates of interest. Commonwealth Bank reserve the right to increase the interest rates on their cards in to the future. Thanks for your question.

  11. Default Gravatar
    brad | April 15, 2012

    I currently have card with $8000 owing. i work approximately 24 hrs per month and receive disability support pension.Could i transfer my balance to this account

    • Staff
      Jeremy | April 27, 2012

      Hi,

      Thanks for the question. If you are eligible for the card you should have no problems transferring an existing balance taking advantage of a low rate of interest through a balance transfer. Cheers.

      Jeremy

Credit Cards Comparison

Rates last updated July 28th, 2014.
Interest rate (p.a.) Balance transfer rate (p.a.) Annual fee Cash advance rate (p.a.)
Westpac 55 Day Platinum Card
Westpac 55 Day Platinum Card
Exclusive Offer to Credit Card Finder. 0% p.a. for 12 months on Purchases
$0 annual fee with platinum benefits including a platinum concierge service, overseas travel insurance, extended warranty cover and purchase security cover.
0% p.a. for 12 months (reverts to 19.95% p.a.) 3.99% p.a. for 6 months with 1% balance transfer fee $0 p.a. 21.49% p.a. Apply
More
ANZ Platinum Credit Card
ANZ Platinum Credit Card
No annual fee for the first year and a balance transfer offer. 19.74% p.a. 0% p.a. for 16 months $0 p.a. annual fee for the first year ($87 p.a. thereafter) 21.49% p.a. Apply
More
Westpac Low Rate Card
Westpac Low Rate Card
A low interest rate credit card with a low annual fee and long term balance transfer offer. 0% p.a. for 12 months (reverts to 13.49% p.a.) 1.99% p.a. for 12 months $45 p.a. 21.49% p.a. Apply
More
Coles No Annual Fee MasterCard
Coles No Annual Fee MasterCard
Enjoy a low interest rate plus a $0 annual fee. 17.99% p.a. 0% p.a. for 6 months $0 p.a. 17.99% p.a. Apply
More
HSBC Platinum Credit Card
HSBC Platinum Credit Card
Earn rewards points plus a balance transfer offer. Access to prestige services including a personal concierge service and VISA Platinum reward program. 19.99% p.a. 0% p.a. for 8 months $0 p.a. 21.99% p.a. Apply
More

* The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.com.au 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.

Ask a question
feedback