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Low Fee Mastercard



Electronic Wallet Service

Important Rates


Balance Transfer

Overseas spending



  • Free Supplementary Cards


The Commonwealth Bank Low Fee Mastercard has a moderately high interest rate and a moderate number of interest-free days.

The card comes with a $0 annual fee deal for the first year and each year after that you spend $1,000 or more. The standard annual fee is low.

For customers wishing to transfer debt from another card, balance transfers incur a very low interest rate for the first five months and then revert to the standard (and very high) cash advance rate.

There is no rewards program associated with the Commonwealth Bank Low Fee Mastercard, and it has a low minimum credit limit.

Customers are covered by Commonwealth’s 100 per cent money back guarantee and Mastercard Zero Liability for fraudulent transactions. You can also make tap-and-go payments in-store with Mastercard contactless payments.

  • Low annual fee
  • Free additional cardholder
  • Moderate interest-free period
  • Moderately high interest rate
  • Late payment fee charged
  • No rewards program

Who is it good for?

This card is suitable for those wanting a reasonably low-fee card with a conservative credit limit, or existing Commonwealth Bank customers who wish to manage all their finances in one place.

It is also particularly good for those who are willing to spend more than $1,000 on a credit card each year as those customers can avoid paying the annual fee. However, it isn’t especially beneficial for people who make the majority of their purchases on a credit card and pay off the bill in full each month, because it doesn’t come with any rewards-earning potential.

The introductory balance transfer deal may be an attractive incentive for those wanting to pay off debt from another card, although it’s worth noting that other cards offer lower balance transfer rates (such as 0 per cent for a certain period). 

What RateCity says

The Commonwealth Bank Low Fee Mastercard offers relatively few advantages aside from the waived annual fee offer and moderate interest-free period.

Although one additional cardholder is allowed at no extra cost, there are other credit cards available that also offer free supplementary cards as well as other benefits.

Despite the reasonably high interest rate, there are no added incentives such as rewards, frequent flyer points or cashback associated with this card. The balance transfer deal also isn’t particularly cost-effective when compared with other cards on the market.

As such, it could be beneficial to do some additional research and see if you can find a card that offers greater value for money or a more attractive rewards program. If you don’t usually pay off your bill each month, you might also be better off with a low-rate card. 


To be eligible for the Commonwealth Bank Low Fee Mastercard card, you need to be at least 18, legally allowed to work in Australia and not currently bankrupt. When you apply online or at a branch, you will be asked to provide proof of ID as well as documents that show what you earn and any money you owe, such as payslips and personal loan statements. You will also need to provide visa details if you aren’t an Australian resident. 

About the lender

The Commonwealth Bank of Australia (CBA) was founded in 1911 and today has more than 16.6 million customers and 52,000 staff – making it one of Australia’s big four banks. The bank offers customers a range of financial products including credit cards, home loans, personal loans, bank accounts and savings accounts. Customers can manage their finances through online banking and the CommBank app, and get 24/7 support through the bank’s website and phone hotline.

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