Commonwealth Bank Low Fee Gold credit card – Review & Application
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Save on fees with the Commonwealth Bank Low Fee Gold credit card
Be rewarded for paying off your card balance each month, with up to 55-days interest free on purchases, plus no annual fee for qualifying customers.
If you hold a Commonwealth Bank account or loan when you apply for this card, Commonwealth Bank will waive your $90 annual fee. You’ll also enjoy a competitive 0% p.a. for 5 months (reverts to 19.74% p.a.) on purchases, 5.99% p.a. for 5 months on balance transfers, and a range of extra benefits like travel insurance and contactless payments.
About the Commonwealth Bank Low Fee Gold Credit Card
Here’s what you need to know about the Commonwealth Bank Low Fee Gold Credit Card:
| Product Name | Commonwealth Bank Low Fee Gold Credit Card | |
|---|---|---|
| Balance Transfer Rate | 5.99% p.a. for 5 months | |
| Interest Rate on Purchases | 0% p.a. for 5 months (reverts to 19.74% p.a.) | |
| Offer end date | 30 June 2013 | |
| Annual Fee | $90 p.a. ($0 for qualifying customers) | |
| Interest Free Period | up to 55 days | |
| Interest Rate on Cash Advances | 21.24% p.a. | |
| Minimum 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.
|
$4,000 | |
| Minimum Monthly Repayment | 2% | |
| Credit Card Type | MasterCard | |
| Late Payment Fee | $20 | |
| Available to Temporary Residents | Yes | |
| Joint Application | No |
Extra benefits
- Preferential pricing for existing customers. Save $90 on your annual fee if you have a Commonwealth Bank account or loan when you apply, and have spent $10,000 or more on purchases and cash advances in the previous year.
Travel benefits
- Complimentary international travel insurance. You can qualify for complimentary travel insurance for international trips up to three months for you, your spouse and your dependent children, if you meet the eligibility criteria~
- Emergency assistance overseas. Get help when you need it while travelling overseas.
Shopping benefits
- Extended warranty insurance. Benefit from peace of mind when you shop, with insurance against faulty purchases when you buy with your card.
- Purchase Security Insurance. Shop securely with free repair or replacement of new items if they’re lost, stolen or damaged within 90 days.
- 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).
- MasterCard® Priceless. Enjoy exclusive access to a unique collection of experiences especially for MasterCard cardholders.
- Worldwide acceptance. Use your Commonwealth Bank MasterCard at over 34 million locations worldwide.
How to apply for the Commonwealth Bank Low Fee Gold Credit Card
If you have decided to apply for this credit card, simply click on the "apply now" button. You will then be taken to a secure CBA web site. You will be asked to supply:
- Personal Details
- Identification
- Netbank details if you have them
- Employment details
- Financial details
Once you have submitted your application, it generally takes 60 seconds to receive a response.
Read the Commonwealth Bank Low Fee Gold Credit Card terms and conditions.
| Minimum Age | 18 years of age | |
|---|---|---|
| Available to Temporary Residents | Yes - Conditions apply | |
| Credit Rating Requirement | Good | |
| 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. | $4,000 |
| Annual Fee | $90 p.a. ($0 for qualifying customers) | |
|---|---|---|
| Minimum Repayment | 2% | |
| Late Payment Fee | $20 | |
| Over Limit Fee | $10 | |
| Overseas Emergency Replacement | $20 | |
| Overseas ATM Balance check | $1.25 | |
| Overseas ATM Withdrawal | $4 | |
| Gambling Transactions Allowed | No | |
| Additional Cardholder Fee | $0 |
Pros
- Complimentary international travel insurance for trips up to 3 months.
- Extended warranty insurance, protection against faulty purchases including purchase insurance for over 90 days
Read the Commonwealth Bank Low Fee Gold Credit Card terms and conditions.
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5 Responses to Commonwealth Bank Low Fee Gold credit card – Review & Application
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Is there a fee levied for purchase overseas ie foreign currency exchange and cash withdrawal?
Terry
Hi Terry. Thanks for your question. The Commonwealth Bank Low Fee Gold Credit Card has a foreign currency conversion fee of 3.00% for MasterCard and Visa cards. This fee will apply when you make a purchase with your card in a foreign country. It’s charged because the money on your card must be converted to the local currency before the transaction can be completed. For further information on foreign currency conversion fees please refer to our article on the topic. Cheers.
what does the complimentary international travel insurance cover – amounts for sickness, loss of luggage, flight delays, and which countries
Hi,
For the specifics of your insurance policy please check the terms and conditions – http://www.commbank.com.au/personal/credit-cards/complimentary-insurance-cover.aspx – the insurance policies cover yourself, you partner and any dependent children between the ages under 18 living at home or 18-21 student living at home and dependent. To be eligible you must spend $950 on each persons prepaid travel expenses using your comm bank card or pay at least 90% of the cost of each overseas travel return ticket. There are exclusions to the cover like any pre-existing medical conditions and you may have to pay an excess for some claims. If you use your frequent flyer or rewards points to pay for your ticket, then you must spend $950 per person on other prepaid travel expenses like hotel accommodation and hire cars etc. To be brief you are covered for the following claims: “medical and hospital expenses overseas, loss or damage to your personal belongings, cancellation of your travel arrangements, cost of resuming your journey if there is an unexpected death, travel delays, accidental death, funeral expenses, legal liability up to $2.5 million and loss of income.” Please refer to the terms and condition for further information. Hope this helps.
Cheers,
Jeremy
What is the available limit on this card