Help & support
Credit card interest is a charge for borrowing money using your credit card account. Most credit card accounts charge interest on different types of transactions, which may vary depending on the type of card you have and repayments you make.
Most CommBank credit cards come with an interest-free period on purchases of up to 55 days. Taking advantage of your card’s interest-free period can help you smooth your cash flow. Effective 1 May 2024, the interest free period on purchases will decrease to 44 days for Awards, Smart Awards, Ultimate Awards, Gold Awards, Platinum Awards and Diamond Awards credit cards.
We’ve recently introduced the CommBank Neo credit card. CommBank Neo offers 0% p.a. on purchases, all for a simple monthly fee1 so you never have to worry about surprise interest charges.
Knowing how we work out your credit card interest and when it’s charged can help you minimise the amount of interest you’ll need to pay.
We've simplified the way we calculate credit card interest and assess interest-free periods for CommBank personal credit cards and Business Awards credit cards.
There are other fees and charges associated with you credit card, which may vary depending on the type of card you have. Understanding what they are can help you manage the amount you have to repay.
Proper management of your card can help you reduce the amount of interest you pay, or mean you pay no interest at all. This includes understanding your credit card statement, monitoring your spending and staying on top of your monthly repayments.
1 For CommBank Neo, the monthly fee is charged at $15 per month for a $1,000 credit limit, $20 per month for a $2,000 credit limit and $25 per month for a $3,000 credit limit. If you don't have any processed transactions in a given statement period and pay your previous statement closing balance in full by the due date, you won't be charged a monthly fee for that statement period.
The information on this website has been prepared without considering your objectives, financial situation or needs. Because of that, you should, before acting on the information, consider its appropriateness to your circumstances. Please view our Financial Services Guide. Applications for credit cards are subject to credit approval. Full terms and conditions will be included in our Letter of Offer. Bank fees and charges apply. Please view our Credit Card Conditions of Use.
