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3 things you need to know about your credit card

3 things you need to know about your credit card

These tips can help you make the most out of your CommBank credit card and avoid some unpleasant surprises.

If you have a CommBank credit card, here are three important things you need to know about it that can sometimes be overlooked.

1. Report a lost or stolen credit card immediately

You must tell us as soon as you become aware that your card is lost or stolen. You can do this in a number of ways.

  • You can report your card lost, damaged, stolen and order a replacement in NetBank or the CommBank app. We will then send a new card to you, and any additional cardholders, within seven working days.
  • You can call us on 13 2221, 24 hours a day, 7 days a week or report the missing card at any branch during business hours.
  • If you suspect your PIN or password has become known to someone else, please notify us straight away by calling 13 2221, 24 hours a day, 7 days a week. Otherwise you’ll be liable for all transactions on the card until you have reported it lost, stolen or compromised.

Note down the lost or stolen overseas assistance phone numbers before you go on an overseas trip.

If you’ve just mislaid your card, you can place a temporary lock^ on it – so if you find it again you won’t need to apply for a replacement.

2. Avoid late fees and interest

Paying the amount due on your credit card statement in full and on time each month will avoid interest and late-payment fees.

3. Know your cash advance charges

cash advance is a loan of cash from your credit card account. Cash advance interest and a cash advance fee applies when you:

  • Get cash from your credit card account from an ATM or at a branch;
  • Make NetBank or CommBank app transfers from your credit card; or
  • Make cash equivalent transactions, such as traveller’s cheques, gambling tokens and online lottery tickets.

If you never withdraw cash from your credit card, you can block ATM cash advances instantly through the CommBank app. You can also do this by visiting card settings in NetBank. If you ever need some extra cash from an ATM, simply unblock it again^.

Avoid loading up your credit card with money when travelling overseas, as withdrawing as cash will still incur a cash advance fee. 

Transactions that are flagged as recurring (e.g. direct debits) and transactions not sent to us for authorisation are not locked. Lock and Limits do not apply to transactions made via Tap & Pay set up on a compatible smartphone or via a PayTag. Other conditions apply. This article is intended to provide general information of an educational nature only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice.