Commonwealth Bank Low Rate Gold Credit Card – Review & Application
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Commonwealth Bank Low Rate Gold Credit Card Overview
The Commonwealth Bank Low Rate Gold credit card offers a very low purchase rate in the market, making it a great card to consider for those looking for a cheap credit card.
| Product Name | Commonwealth Bank Low Rate 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 12.99% p.a.) | |
| Offer end date | 30 June 2013 | |
| Annual Fee | $120 p.a. ($90 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 | |
| Complimentary Travel Insurance | Yes | |
| Available to Temporary Residents | Yes | |
| Joint Application | No |
Rates and Fees
The Commonwealth Bank Low Rate Gold credit card offers a competitive low purchase rate, up to 55 days interest free on purchases and:
- Interest rates 0% p.a. for 5 months (reverts to 12.99% p.a.). on purchases
- 21.24% p.a. on cash advances
- Up to 55 days interest free on purchases
- Annual fee: $120 p.a. ($90 for qualifying customers)
Features of the Commonwealth Bank Low Rate Credit Card:
- Receive Complimentary International Travel Insurance for your return trips of up to 3 months
- Enjoy worry-free shopping with the free Extended Warranty Insurance on most purchases
- Know that most of your purchases are safe thanks to the Purchase Security Insurance
- Benefit from enhanced security chip protection
- Get access to MasterCard® Priceless
Smart Benefits for Smart People
If you like the idea of fast checkout while shopping you should be delighted to know that the Commonwealth Bank Low Rate Gold credit card offers PayPass payments at selected merchants. Paying for your shopping with PayPass is as easy as swiping your card in front of the PayPass reader, without having to sign for your purchase or battling the EFTPOS machine, trying to remember your PIN. PayPass shopping only applies to purchase of $100, or less.
As an applicant you get an annual fee of $120 p.a. ($90 for qualifying customers). If you have a partner you also get to have 1 additional cardholder free of charge.
How to Apply
If you have decided that the Commonwealth Bank Low Rate credit card is right for you then you can apply now with the buttons below. Make sure you have all your personal details handy, including financial details, employment information and identification. If you need more information before you apply, you can by clicking on "find out more" below.
Read the Commonwealth Bank Low Rate 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 | $120 p.a. ($90 for qualifying customers) | |
|---|---|---|
| Minimum Repayment | 2% | |
| Late Payment Fee | $20 | |
| Over Limit Fee | $10 | |
| Overseas Emergency Replacement | $20 | |
| Overseas ATM Withdrawal | $4 | |
| Gambling Transactions Allowed | No | |
| Additional Cardholder Fee | $0 |
Pros
- Complimentary international travel insurance plus, transaction insurance on most purchases.
- 55 interest free days and competitive low purchase rate of interest of just 12.99% pa.
Cons
- You do not get up to 55 interest free days on purchases when you have an outstanding balance transfer amount owing.
- A charge applies when you use your card to make a cash equivalent purchase such as a gambling transaction or travellers cheque.
Read the Commonwealth Bank Low Rate Gold Credit Card terms and conditions.
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DETAILS OF TRAVEL INSURANCE AND CAR HIRE INSURANCE PLEASE
Hi,
You can find information about the complimentary travel insurance and car hire here – http://www.commbank.com.au/personal/credit-cards/complimentary-insurance-cover.aspx – Cheers.
Cheers
WHAT’S THE INCOME REQUIREMENT FOR THIS CARD?
Hi Caris. Thanks for your question. Some low rate cards do not have a minimum income requirement; rather, an applicant is assessed on their financial situation provided at the time of application and the application is approved or declined based on these financials. The strong your financial position, you will be assigned a higher credit limit. Cheers.
Does this card offer •0% foreign transaction fees for online and overseas purchases
Thanks
Hi Shani. Thanks for your question. This card does not offer no foreign currency conversion fees, please refer to our travel money comparison page for a list of cards that do, in addition to other travel friendly money options. Jacob.