Managing Your Commonwealth Bank Credit Card

Featured CBA Card

Commonwealth Bank have just relaunched their CBA Awards Credit Card. Now you can benefit from 2 cards on the one account including an CBA AMEX Card and a new-look CBA MasterCard. This will allow you to earn points faster than ever before so you can enjoy a great choice of awards.

• $89 ($59 for qualifying customers) annual fee
• 20.74% p.a. on purchases
• 5.99% p.a. for 5 months on balance transfers
• Cash Advance Rate of 21.74% p.a.
• 55 days interest free
• 55 days interest free

Read the Commonwealth Bank Awards Credit Card terms and conditions.

Managing your cba credit card is easy enough with the right insider knowledge about the range of cards on offer. By knowing what type of card is offered to you can pick and choose the card that is right for you.

Managing your cba credit card is easier if you know the key issues to look out for. It is not a complex process but it does require some self-discipline and you must understand how various features and rules work. The following should help you get to grips with the basics of managing your cba credit card.

The interest rate:
Interest is money charged on a credit card’s unpaid balance left over beyond the payment due date. Interest is calculated at the end of the statement period, then charged to the account on the last day of each statement period. Commonwealth works out the average daily balance over the statement period, then calculates the daily rate. This means dividing the annual percentage rate (APR) by 365, then multiplying the average daily balance by the daily rate. This number is then multiplied by the number of days in the statement period. The interest is important to know if you are going to regularly keep an unpaid balance on your card, and it is a crucial part of managing your cba credit card.<

The interest-free period:
Your interest-free period of fifty-five days means you will not be charged any interest if you pay the full balance by the payment due date. However, if a statement is not paid in full, the interest-free period is lost and interest charges are calculated on your previous purchases and any current and future purchases at the daily rate. Interest on cash advances starts from the moment they are made until they are paid in full. Keeping your interest-free days intact is an important factor in managing your cba credit card.

Balance transfers:
Balance transfers can be made to your cba credit card, but you should remember that these will void your interest-free days on purchases. Also, if a balance transfer is made at a lower rate of interest thanks to a special offer, it is this debt that is paid off first before any purchase or cash advances at a higher rate of interest. Balance transfers can only be made up to 95% of your total credit limit.

Minimum payments:
This is the amount you must pay each month if you are not to be considered in default on your debt. This amount is $25 or 2% of your total balance, whichever is the greater amount. Therefore if your balance is $25 or less, you will need to pay it off completely. Managing your cba credit card without adhering to this rule will cause you problems. If you fail to pay your minimum amount, or you pay it late, a late fee may be charged and your account restricted. Any special offers on interest rates may also be withdrawn.

NetBank:
To allow you to manage your cba credit card online, you need to register for NetBank. This will require your credit card number, your credit card PIN, and your telephone banking password. This means you will have to register for telephone banking before registering for NetBank.

Check out today's featured offers:

Westpac Low Rate	Citibank Clear Platinum	Qantas AMEX Discovery	ANZ Platinum
0% p.a. for 6 months on purchases & balance transfers	2.9% p.a. for 12 months on balance transfers	$0 annual fee Up to 10,000 Bonus QFF Points	0% p.a. for 6 months on purchases & balance transfers

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Popular Credit Card Offers

			Interest Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual fee	Cash Advance Rate (p.a.)
	Westpac Low Rate Card - 0% Offer	A credit card with a low rate offer on both balance transfers and purchases, plus a low annual fee.	0% for 6 months (reverts to 13.49% )	0% for 6 months	$45	21.49%
	Citibank Clear Platinum Card	Competitive interest rate on purchases and balance transfers offer.	11.99%	2.9% for 12 months	$99	21.74%
	St George Vertigo	Take advantage of this great offer from St.George with a low rate on purchases and a low balance transfer offer.	13.24%	0.99% for 12 months	$55	21.49%
	ANZ Platinum Credit Card	An introductory interest rate offer on balance transfers and purchases, plus a $0 first year annual fee.	0% for 6 months (reverts to 19.24% )	0% for 6 months	$0 annual fee for the first year( $87 thereafter)	20.99%