How would you like to be rewarded for the everyday banking and spending you already do? If you’re a Commonwealth Bank customer, now you can be! When current customers also open a Commonwealth Bank Low Fee credit card and meet minimum yearly spending requirements (easy if you use your card for monthly bill payments), they’ll have the annual fee waived. Discover how bank loyalty can lead to more customer perks today.

Learn more about the Commonwealth Bank Low Fee credit card below, and find out what you can do to save more money on annual fees when you apply online today.

Type of Credit Card: Low fee card / balance transfer card

Interest Rates*: While the regular interest rate on purchases for the Commonwealth Bank Low Fee credit card is 18.49%, you can get a special rate on balance transfers for nine months. When you transfer your balance from another credit card, you’ll get a special balance transfer rate of just 4.99% during that introductory period. The card’s cash advance rate is 19.99%.

Annual Fee*: This card can be a real money-saving option if you’re already a Commonwealth Bank customer and if you use your card to spend $1000 or more each year. If you meet those two requirements, Commonwealth Bank will waive your annual fee — it’s an example of how it sometimes pays to get a credit card through your existing bank. Cardholders without a Commonwealth Bank account pay a $24 annual fee (which is still a low fee card compared to many other high-frills options).

Rewards / Extras*: The Commonwealth Bank Low Fee credit card doesn’t offer a rewards programme, but it does provide some perks. For example, you’ll get a free additional cardholder and MasterCard benefits such as more secure Internet shopping, the MasterCard PayPass “tap and go” capability for faster purchases, and access to the MasterCard Applause programme which allows you to book theatre, sporting, and other event tickets online.

Additional Details*: While the purchase interest rate for the Commonwealth Bank Low Fee credit card is on the higher side, you can avoid paying interest altogether by taking advantage of up to 55 interest free days when you pay off your balance each statement period.

Apply now!

* Interest rates, annual fees, and additional card details were taken from the most accurate data available at the time of writing. All rates are subject to change from the issuing bank, and their inclusion here in no way serves as a guarantee of rates. Please review rates and terms with the card issuer at the time of application.