Commonwealth Bank Low Fee Gold Credit Card – Review and Application

Information verified correct on September 29th, 2016

The Commonwealth Bank Low Fee Gold credit card boasts included travel insurance, interest-free days and extended warranty insurance.

Enjoy $0 annual fee for the first year and each following year if you spend $10,000 or more in the previous year. This credit card also offers an interest rate of 19.74% p.a. on purchases.

Receive Gold credit card features with included travel insurance, purchase protection insurance and extended warranty insurance.

Product NameCommonwealth Bank Low Fee Gold Credit Card
Balance transfer rate (p.a.)5.99% p.a. for 5 months
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Cash Advance Rate (21.24% p.a.)
Purchase rate (p.a.)19.74% p.a.
Annual fee$0 p.a. annual fee for the first year ($89 p.a. thereafter)
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 55 days on purchases
Cash advance rate (p.a.)21.24% p.a.
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
Minimum Monthly Repayment2% or $25 whichever is greater
Card TypeMasterCard
Late Payment Fee$20
Foreign Currency Conversion Fee (MC)3% of transaction value
Complimentary Travel InsuranceYes
Complimentary Travel Insurance Cover3 months
Available To Temporary ResidentsYes - Conditions apply
Joint ApplicationNo
Minimum Age18 years of age
Available to Temporary ResidentsYes - Conditions apply
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Min Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
Annual Fee$0 p.a. annual fee for the first year ($89 p.a. thereafter)
Minimum Repayment2% or $25 whichever is greater
Late Payment Fee$20
Over Limit Fee$10
Cash Advance Fee$2.50 or 2% of the transaction amount (whichever is greater)
Overseas Cash Advance Fee$2.50 or 2% of the transaction amount (whichever is greater)
Overseas Emergency Replacement$20
Overseas ATM Balance check$1.25
Foreign Currency Conversion Fee (MC)3% of transaction value
Gambling Transactions AllowedYes
Gambling Transactions Interest RateCash Advance Rate
Additional Cardholder Fee$0 p.a.
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes


  • Pay $0 annual fee for the first year, reverting to $89 thereafter. Continue to have the annual fee waived for subsequent years if you spend $10,000 or more in the previous year.
  • Get coverage from extended warranty insurance, purchase insurance and included travel insurance for trips of up to 3 months.


  • There is no rewards program linked to this card, which is usually a standard feature included with Gold tier credit cards.

Commonwealth Bank Low Fee Gold Credit Card review

You can use the Commonwealth Bank Low Fee Gold credit card for your purchases and take advantage of the MasterCard PayPass feature, using the Tap & Go function for convenient purchases under $100. The credit card comes with a $4,000 minimum credit limit and you can avoid interest charges on your purchases with up to 55 days interest-free period. Please note that interest free days only apply if you pay your balance in full for every statement period.

This credit card has included travel insurance and will waive the annual fee if you spend $10,000 on the card in the previous year. You can also apply for optional Credit Card Plus insurance to protect your repayments if you can’t make them due to unemployment or disablement.

Benefits of the Commonwealth Bank Low Fee Gold credit card

  • Annual fee. Currently, Commonwealth Bank charges an annual fee of $89 with the Low Fee Gold credit card. However, you could qualify for a waiver on the annual fee if you spend more than $10,000 on the card in the previous year.
  • Security. This card allows you to have greater control over your account security. You can set limits on your transactions, lock international payments, block cash advances on ATMs and manage your transactions. Your security preferences can be set on NetBank or through the CommBank app. There is also transaction location mapping, which allows you to instantly identify the location of a transaction.
  • Interest-free purchases. Cardholders can take advantage of the interest-free purchase period of up to 55 days. This means as long as you pay off your card balance by the due date each month, you will not have to pay interest on your purchases. The usual purchase rate is 19.74% p.a.
  • Included travel insurance. Commonwealth Bank Low Fee Gold credit card holders are eligible for included travel insurance. You get coverage for you, your partner and dependents, simply activate your cover before you travel. Low Fee Gold credit card holders get coverage for up to 3 months per trip. There are various insurance covers available with this credit card, please check the Product Disclosure Statement for the full terms and conditions to ensure you are covered.

Features of the Commonwealth Bank Low Fee Gold credit card

  • Insurance covers. This card offers extended warranty insurance and purchase security insurance, for eligible items you buy with your card. Note, however, that not all purchases are covered and T&C’s apply.
  • Global service. You have 24-hour emergency service support from anywhere in the world in case your credit card gets lost.
  • Access to entertainment experiences. Take advantage of several entertainment experiences that are exclusive to MasterCard holders through the MasterCard Privileges and Priceless Cities.

How to apply for the Commonwealth Bank Low Fee Gold Credit Card

You can apply for the Commonwealth Bank Low Fee credit card online so long as you meet the following.

Eligibility criteria

  • You must be 18 years or older to apply for any Commonwealth Bank credit card.The second part of the application will require an electronic ID check.
  • You can apply for the credit card even if you are a temporary resident. Check out the conditions that apply with this eligibility.

Required documents

  • The bank will need your employment details. Some of the details you are required to fill out include your employment type, employment status, job category, and job type. Contacts of your workplace will be required with your application.
  • The bank will want to know your income, assets, liabilities, and NetBank details if available.

Commonwealth Bank Low Fee Gold credit card offers a low annual fee without limiting its features. Check out what similar credit cards have to offer to get the credit card that fits your needs.

Frequently asked questions

How do I get the annual fee waiver?

CommBank waives your annual fee for the first year, then continue to waive your annual fee each subsequent year as long as you spend at least $10,000 on your Low Fee Gold credit card (on purchases and cash advances only).

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26 Responses to Commonwealth Bank Low Fee Gold Credit Card – Review and Application

  1. Default Gravatar
    Kathy | December 1, 2015

    I have a Commonwealth Bank Gold credit card. I will be renting a car Interstate (within Australia). Is the rental car “excess” covered? If not…is it covered if I upgrade to Platinum?

    • Staff
      Jonathan | December 1, 2015

      Hi Kathy, thanks for your inquiry!

      Unfortunately the insurance policy from Commonwealth Bank only provides Interstate Flight Inconvenience Insurance for interstate cover. You can compare domestic insurance cover policies on this page.



  2. Default Gravatar
    emma | September 17, 2015

    We have paid the airfare yesterday for a trip in November. If we apply the Commonwealth Gold credit card now, will the complimentary travel insurance cover the trip that was already paid? We have not made bookings on hotels yet.

    • Staff
      Jonathan | September 17, 2015

      Hi Emma, thanks for your inquiry!

      You will be covered under this travel insurance policy provided you have a Gold, Platinum or Diamond card. Please refer to our Commonwealth Bank complimentary insurance guide for more information on how to apply for the full cover and what features are included in this policy.



  3. Default Gravatar
    Mick | July 26, 2015

    How do I apply for a card?

    • Staff
      Jonathan | July 27, 2015

      Hi Mick, thanks for your inquiry!

      You can compare credit cards on this page. When you have found a card that suits your preferences, click the ‘Go to Site’ button and you will be redirected to the respective bank’s web-form to apply for the card.



  4. Default Gravatar
    MARK | July 2, 2015

    How do I upgrade my Visa card to gold, what is applicable fee and how soon can I use it for purchases?

    • Staff
      Sally | July 2, 2015

      Hi Mark,

      Thanks for your comment.

      You will need to either contact CommBank over the phone or complete a request form and submit it at a Commonwealth Bank branch to upgrade your card.

      If your upgrade request is approved, they will send you a letter of offer and your card within 10 working days. Once the card is activated, your old credit card account will be closed and you should be able to use the new card immediately.

      Any direct debits and regular payments will not be automatically transferred over to your new card, you will need to do this.

      I’ve emailed you a link you the relevant CommBank page for your perusal.

      I hope this has helped.



  5. Default Gravatar
    ken | May 24, 2015

    Where can I find out what I can buy with my Award points? Ie how many points are needed to buy which products. I am a CBA customer, but don’t have an Awards credit card.

    • Staff
      Elizabeth | May 25, 2015

      Hi Ken,

      Thanks for your question.

      If you have an Awards points balance, you’ll be able to see this in Netbank and see what is available for you to redeem, or also via your CommBank app. You can find out what rewards are available for redemption on this page.

      I hope this has helped.



  6. Default Gravatar
    James | March 3, 2015

    What rewards system does this card have? What value is each reward and how would they be redeemed?

    • Staff
      Jonathan | March 3, 2015

      Hi James, thanks for your inquiry!

      For more information on Commonwealth Bank Rewards please see this page.



  7. Default Gravatar
    Dilsie | April 30, 2014

    Is my husband covered for a trip to Bali if the trip is paid for with my card, I am not going.
    Thank you

    • Staff
      Shirley | May 1, 2014

      Hi Dilsie,

      Thanks for your question.

      Your spouse and dependent children are only covered if they travel with you on the entire journey and share the same itinerary with you.


    • Default Gravatar
      Dilsie | May 1, 2014

      Thank you for your prompt reply, I will purchase travel insurance for him

  8. Default Gravatar
    Vanessa | February 8, 2014

    Can you tell me the ‘eligibility criteria’ for complimentary travel insurance please?

    • Staff
      Marc | February 10, 2014

      HI Vanessa,
      thanks for the question.

      According to CBA you must:
      “-Spend $1,000 or more on prepaid travel costs listed below by redeeming your CommBank Award points and/or using your active, eligible CommBank Gold, Platinum or Diamond credit card; and
      -Have return overseas travel tickets.”

      This is in addition to any restrictions of age and pre-existing medical conditions found in the policy document.

      I hope this helps,

  9. Default Gravatar | November 4, 2013

    Need information on travel insurance with the Gold MasterCard.

    • Staff
      Jacob | November 5, 2013

      Hi Kenola.

      Thanks for your question.

      You can find a guide to the Commonwealth Bank Gold Card complimentary international insurance policy on this page.

      I have also send the policy document to your email.


  10. Default Gravatar
    Mimi | July 26, 2013

    Is the annual fee free as long as I have an account with you?

    • Staff
      Jacob | July 26, 2013

      Hi Mimi. Thanks for your question. If you hold one of the following Commonwealth Bank accounts, you will not be charged an annual fee on this card.
      Personal Loans (secured & unsecured), All (including Colonial and HomePath) Home Loans and Investment Home Loans, Equity Unlock Loan for Seniors, Viridian Line of Credit (VLOC), Line of Credit (Colonial Branded), Term Deposits, Farm Management Deposit account (at call & fixed), Everyday account Complete Access, Everyday account Smart Access, Streamline account, Streamline e-Access, Streamline Unlimited, Youthsaver account, AwardSaver account, Pensioner Security account, NetBank Saver account, First Home Saver account, Passbook Savings account, Savings Investment account, Security Plus account, Cash Management Call account, Money Market Call account, Cash Investment account, Mortgage Interest Saver account, Personal Credit Card, Campus Loan and Personal Credit Line & GoalSaver account.


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Rates last updated September 29th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
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