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About the Low Rate credit card

Features and benefits

  • Up to 55 days interest free on purchases
  • MasterCard® PayPass™ for a faster way to pay for purchases under $100. Just Tap & Go™
  • Transactions updated instantly – so you’ll always know where you stand1
  • Transaction location mapping – track purchase locations
  • Control your security and spending – instantly lock international payments, block ATM cash advances and limit your spending through the CommBank app or on NetBank.
  • Our lowest interest rate on purchases
  • Minimum credit limit of $500
  • Free additional credit card. Apply now
  • Optional CreditCard Plus insurance
  • Stay in control with alerts and payment reminders2
  • MasterCard is accepted at over 35 million locations worldwide, in over two million ATMs, in more than 210 countries
  • 24/7 emergency assistance overseas if you lose your card with Mastercard Global Service
  • Access to a unique collection of experiences and offers  exclusively for MasterCard cardholders through Priceless Sydney and MasterCard Privileges


  • Our 100% money back guarantee means you’ll never be liable for fraudulent use of your credit card, provided you follow the Credit Cards Conditions of Use3
  • 24-hour fraud protection detects any abnormal transactions or spending patterns
  • Secure internet shopping with NetCode
  • Enhanced security chip protection
  • MasterCard® Zero Liability gives you the peace of mind of free protection against fraud and other unauthorised transactions made with your card
  • Control your security and spending – instantly lock international payments, block ATM cash advances and limit your spending through the CommBank app or on NetBank.

Rates and fees

Interest rate

13.24% p.a. on purchases
21.24% p.a. on cash advances

Interest-free period

Up to 55 days interest free on purchases.

Balance transfer rate  

Pay a low 5.99% p.a. in interest for the first 5 months on the balance you bring across,cash advance rate thereafter.

Annual fee


Additional cardholder fee


Cash advances

  • Commonwealth Bank over the counter5: $2.50 or 2.00% of the transaction amount (whichever is greater).9
  • ATM6: $2.50 or 2.00% of the transaction amount (whichever is greater).9
  • Any other Commonwealth Bank network7: $2.50 or 2.00% of the transaction amount (whichever is greater) .9
  • Non-Commonwealth Bank over the counter8: $2.50 or 2.00% of the transaction amount (whichever is greater).9
  • Overseas terminal or bank: $2.50 or 2.00% of the transaction amount (whichever is greater).9
  • Cash equivalent items or cash substitutes: $2.50 or 2.00% of the transaction amount (whichever is greater).10

Lock, block and limit your card

  • Instantly lock, block and limit your credit card for extra control through the CommBank app or NetBank.
  • Lock in-store international payments – so that no one can use your card in store overseas,
  • Lock online international payments – to prevent anyone using your card to make purchases on international websites,
  • Block ATM cash advances – so nobody can use your credit card to take out money except you,
  • Limit your spending – by setting a maximum amount per transaction.
  • The settings you activate will apply instantly and you can switch these settings on and off whenever you need to.11

Low Rate Gold credit card

Stay in control of your finances with our lowest interest rate, plus handy extras like complimentary insurances.

Learn more

Awards credit card

Reward your everyday spend. Redeem points instantly at Myer, Flight Centre or choose an item from the CommBank Awards Program.

Learn more

CreditCard Plus

Insurance for your credit card that can help pay your credit card bill in the event of unforeseen circumstances.

Learn more

Things you should know

* Commonwealth Bank Flight Centre $5,000 gift card credit card promotion – Draws are weekly except for the final draw. The Promotion commences at 12:00am (AEDT) on 1 March 2017 and closes at 11:59pm (AEST) on 19 May 2017. To enter, you must apply for a CommBank personal/consumer or personal liability business card credit card by 30 April 2017 activate your new card by 19 May 2017. There will be Eight (8) prizes (one prize per draw). Each prize is a Flight Centre gift card valued at $5,000 AUD each. Each winner will be bound by the Flight Centre Travel Group Gift Card Terms of Use which can be found at The computerised draws will be conducted at 4pm (Sydney time) at Level 2, Commonwealth Bank Place – South Building, 11 Harbour Street, Sydney NSW 2000 on the following dates: Cards activated from 1 March to 17 March 2017 – drawn 22 March 2017; cards activated from 18 March to 24 March 2017 – drawn 29 March 2017; cards activated from 25 March to 31 March 2017 – drawn 5 April 2017; cards activated from 1 April to 7 April 2017 – drawn 12 April 2017; cards activated from 8 April to 14 April 2017 – drawn 19 April 2017; cards activated from 15 April to 21 April 2017 – drawn 26 April 2017; cards activated from 22 April to 28 April 2017 – drawn 3 May 2017; cards activated from 29 April to 19 May 2017 – drawn 24 May 2017. Winners will be published in The Australian on the following dates: 3 April 2017; 17 April 2017; 1 May 2017; 8 May 2017 and 29 May 2017. The Promoter is Commonwealth Bank of Australia ABN 48 123 123 124 of Commonwealth Bank Place – Level 2, South Building, 11 Harbour Street, Sydney NSW 2000. Authorised under NSW Permit No: LTPS/17/10942, ACT Permit No: TP TP17/00101 and SA Permit No: T17/100. For full terms and conditions click here.

CommBank Credit Card Conditions of Use

1 Excludes some manual transactions and some contactless payments
Subscription to this service may be limited
And immediately notify us of the loss, theft or misuse of your card, PIN or password and of any suspicious activity on the account.
At the end of the balance transfer period, the interest rate on any outstanding transferred balances converts to the cash advance rate current at that time. Other fees and charges may be payable.
Charge applies to cash advances at Commonwealth Bank branches.
Charge applies to cash advances through a terminal of any financial institution in Australia, at ASB Bank in New Zealand, Commonwealth Bank in Indonesia and Commonwealth Bank in Vietnam.
Charge applies to cash advances by way of funds transfer through NetBank, PhoneBank Transfer, Commonwealth Bank Customer Service Centre, Australia Post, 13 2221 Transfer Cash, NetBank Transfer Home Loan, Mobile Bank Transfer and NetBank Transfer Personal Loan.
Fee applies to cash advance transactions made at other financial institutions within Australia.
A maximum charge of $150.00 (or a flat fee of $2.50 applies if your closing balance on previous business day was in credit).
Charge applies to purchases of cash equivalent items or cash substitutes including gambling transactions or traveller’s cheques.
 Excludes transactions flagged as recurring (e.g. direct debits) and transactions not sent to us for authorisation. Other Terms & Conditions apply.

Note: For cash advances and balance enquiries made through a non-Commonwealth Bank ATM in Australia, the ATM owner may charge you a fee, which will be disclosed at the time of the transaction. If you proceed with the transaction, the ATM owner’s fee will be debited to your account (in addition to the cash advance amount) if applicable. You should check the ATM owner’s fees that apply carefully before completing.

MasterCard and the MasterCard brand mark are registered trademarks of MasterCard International Incorporated. PayPass and Tap & Go are trademarks of MasterCard International Incorporated. 

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. Please view our Credit Card Conditions of Use.