CommBank Low Rate Credit Card
- APR
- 10.99% – 15.99%
- Annual Fee
- A$72
- Sign-Up Bonus
- A$420
CommBank's Low Rate Credit Card pairs a personalised 10.99%–15.99% p.a. purchase rate with up to 55 interest-free days and a A$6 monthly card fee.
You'll be redirected to commbank.com.au
Our Verdict
A strong low-rate AU card if your priority is cheaper carried balances, and the current cashback offer makes it more compelling than the old stale record suggested.
Pros
- Personalised purchase rate from 10.99% p.a. to 15.99% p.a.
- Up to 55 interest-free days on purchases
- A$420 cashback acquisition offer is unusually strong for a low-rate card
- Mastercard acceptance plus CommBank digital-wallet support
Cons
- A$6 monthly fee adds up to A$72 per year
- No ongoing rewards program
- Rate is personalised, so not every applicant gets the 10.99% floor
With an interest rate starting at 10.99% p.a., the CommBank Low Rate Credit Card is designed for those prioritising low rates over rewards. However, customers should be aware of the potential 15.99% p.a. cap, which could impact those who carry a balance. The $6 monthly fee is reasonable, but it does add to the overall cost for some users.
The card is backed by one of Australia's Big Four banks, offering reliability and access to Mastercard's extensive network. Customers may also appreciate the straightforward application process and the bank's strong customer service reputation. Yet, the card lacks a robust rewards program, making it less appealing for frequent spenders looking to earn points.
For individuals who consistently pay off their balance, this card can be an excellent way to save on interest. However, it’s not recommended for those who might carry a balance and aren’t able to take advantage of the lower rate. Overall, the CommBank Low Rate Credit Card serves a niche audience focused primarily on minimising interest costs rather than earning rewards or benefits.
Who It's For
Borrowers who value lower purchase interest over points and want a mainstream bank issuer.
Watch Out
The fee is charged monthly rather than annually, so budget for the full A$72/year cost.
Summary
A practical low-rate Mastercard from a major bank, especially while the A$420 cashback acquisition offer is live.
Best For
Best suited for individuals looking to minimise interest costs on credit card balances.
You'll be redirected to commbank.com.au
What Customers Say
Cardholders appreciate the low interest rates but express concerns about the lack of rewards.
