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Commonwealth Bank of Australia

Commonwealth Bank Low Fee Mastercard

Purchase Rate

Purchase Rate

0.00

% p.a

for up to 15 months, then 19.74%

Balance Transfer Rate

Balance Transfer Rate

5.99

% p.a

for up to 5 months, then 21.24%

Annual Fee

Annual Fee

$0

for 12 months then $29

Max Free Days

Max Free Days

55

Late Payment Fee

$20

Purchase Rate

Purchase Rate

0.00

% p.a

for up to 15 months, then 19.74%

Balance Transfer Rate

Balance Transfer Rate

5.99

% p.a

for up to 5 months, then 21.24%

Annual Fee

Annual Fee

$0

for 12 months then $29

Max Free Days

Max Free Days

55

Late Payment Fee

$20

Quick credit card review

For Low Fee Mastercard

These are the benefits of this credit card.

  • 5.99% p.a on balance transfers for 5 months and then 21.24% p.a.
  • Reduced $0 annual fee in the first 12 months and $29 p.a thereafter.
  • Annual fee of $29 is refunded when you spend $1,000 on purchases every 12 months
  • Annual fee ranked in the lowest 20%
  • Ability to convert large purchases into instalment plans
  • Free supplementary cards

These are the drawbacks of this credit card.

  • Higher than average ongoing purchase rate
  • No reward program

TMD

Credit card overview

For Low Fee Mastercard

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Details

Card Level

Standard

Card Type

MasterCard

Interest Free Days

Interest Free Days

55

Minimum monthly repayment

2% or $25

Minimum credit limit

$500

Maximum credit limit

No set max

Free supplementary cards

Number free supplementary

1

Instant Approval

Fees

Annual Fee

Annual Fee

$0

for 12 months then $29

Annual Fee Spend Waiver

$1k

Supplementary card annual fee

$0

Late Payment Fee

$20

Over limit fee

$15

Duplicate statement fee

$0

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Electronic Wallet Service

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Important Rates

Rates

Purchase Rate

Purchase Rate

0.00

% p.a

for up to 15 months, then 19.74%

Cash advance rate

21.24%

Cash advance fee

2% or $2.5

Balance Transfer

Balance Transfer Rate

Balance Transfer Rate

5.99

% p.a

for up to 5 months, then 21.24%

Transfer Limit

100%

of the approved credit limit

Balance Transfer Fee

$0

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Overseas spending

Foreign Exchange Fee

3% on Mastercard

Overseas charges

Overseas charges

$2.5

Estimated ATM Cost

-

Rewards

Program name

Rewards Available

Eligibility

Minimum age

18

Minimum income

$0

Eligibility conditions

Residency

TMD

Available
Not available
Data not captured

Perks

  • FREE SUPPLEMENTARY CARDS

Target Market Determination

Visit Commonwealth Bank of Australia to view Target Market Determination.

Other Benefits

CommBank rewards you when you shop from partnered brands to give you cashback when you activate and redeem your CommBank Rewards.

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FAQs

How do I transfer money from my Commonwealth bank credit card to my bank account?

Your Commonwealth bank credit card may include a cash advance benefit, but you won't be able to transfer money to your bank account. 

You can, however, withdraw cash from your credit card at an ATM. You should remember that you have to pay a fee for such transactions, and you’ll be charged interest from the day you withdraw the cash. 

Unlike other credit card transactions, you don’t get an interest-free repayment period for cash advances. Also, you may not be able to access your full credit card limit for a cash advance.

What can I do about my Commonwealth Bank expired credit card?

You’ll typically receive your replacement Commonwealth Bank credit card before your current one expires. 

Once you receive the replacement card, you may need to update the new card with all the direct debits that you had set up on your expired Commonwealth Bank credit card. These could include insurance payments, electricity or gas bills, and monthly entertainment subscriptions.

To see a list of all your regular payments in NetBank, follow these steps:

  1. Log on to NetBank
  2. Click on ‘settings’
  3. Go to ‘product requests’, and select ‘credit card regular payments’. 

If you don’t use NetBank, you can see the list of your regular payments on your most recent credit card statement. Keep in mind, this list may not be complete and you should also check your past statements or your transaction history. 

If you haven’t received your replacement card before your current card expires, call 13 22 21 and the bank will send a new card to you. 

It is important that you safely discard your expired credit card. This often means cutting it up with scissors and throwing it out. 

  • If you have let your credit card expire because you are looking for a more competitive credit card offer, it may be worth comparing your options today

How to increase your Bendigo Bank credit card limit?

As a Bendigo Bank credit cardholder, you can avail a minimum limit of $500, but if you use your card regularly, you may want to consider increasing it. To increase your Bendigo Bank credit card limit, you can contact the bank’s credit card team on 1300 236 344 and talk to the bank directly.

You can also apply for a credit card limit increase through online banking, by logging into Bendigo Bank web portal or through the app on your phone or tablet. Once you’ve successfully logged in, you'll want  to send a secure message to Bendigo Bank asking them to increase your credit card limit. 

If you cannot access the online portal or the app, you can also apply to increase your credit card limit through the online enquiry form. Simply add relevant information in the required fields and click ‘Submit’. Once you have completed the application, Bendigo Bank should verify your details and analyse your current financial standing. Based on this assessment, the bank will either accept your application to increase your credit card limit or deny it. 

How to increase my Commonwealth credit card limit?

Commonwealth Bank credit cards are extremely popular in Australia for everyday purchases and big ticket items alikers. A number of the card’s functions can be customised, depending on your needs and desires. If you wish to increase your Commonwealth credit card limit using the CommBank, you can usually do so on the app or via NetBank.

In the CommBank app, tap on the ‘Cards’ icon and choose your credit card. Then, click on ‘Credit Limit’ and select the ‘Increasing your limit’ option. If you don’t have the CommBank app, you can also increase your Commonwealth Bank credit card limit through NetBank. Simply log on and go to Settings, then click on ‘Product Requests’ and then choose ‘Credit Card Limit Changes’. 

Once the bank has received your application, they will review your account and payment history. Based on this assessment, your application will either be approved or denied. If approved, your new limit will be applied to your card instantly. 

While increasing your credit card limit may be an easy process, it’s important to remember that you should only request limits that you can manage. A high limit increases the risk of having a larger debt, even with cards that provide generous rewards programs or low-interest rate options. So, it’s important to think carefully and seek advice from people you trust before increasing your Commonwealth Bank credit card limit.

How do I increase my Suncorp credit card limit?

You can ask Suncorp to increase your credit card limit  by contacting  131 155 or by visiting your nearest branch. You’ll have to meet Suncorp’s credit criteria and general terms. For example, you may not receive an increase in your limit if you have successfully applied for one or in the past nine months. Similarly, the bank will look at whether you’ve applied for other credit products recently. 

When assessing your application for a credit increase, banks look at a range of criteria, such as your income and your spending and repayment history. Usually you’ll hear back within a couple of weeks. 

Who is eligible for Bankwest credit card insurance

Bankwest offers complimentary overseas travel insurance to its Gold MasterCard, Platinum MasterCard and World MasterCard cardholders. Eligible Gold and Platinum MasterCard customers are covered for up to 31 consecutive days of travel, while the World MasterCard holders are covered for six successive months.

To receive the complimentary Bankwest credit card insurance, cardholders need to:

  • Be under 80 years old
  • Be travelling to a foreign destination
  • Not have a cancelled or suspended card.


The complimentary insurance is also available to spouses and children if they travel with you for the entire period. The level of cover depends on the type of card and its  credit limit. Some of the standard types of cover include:

  • Overseas emergency medical assistance
  • Personal liability
  • Accidental demise
  • Baggage and personal goods.


It’s important to remember that pre-existing conditions are not covered by the complimentary Bankwest credit card insurance. Other terms and conditions also apply. 

If you are an eligible cardholder and need to make a claim, it can either be done online or by calling +612 8907 5615. 

What type of complimentary travel insurance is available with Citi credit cards?

The Citi Prestige, Premier, Rewards, Emirates Citi World MasterCard, and Gold cards provide complimentary travel insurance to customers. These Citi credit card insurance benefits are managed and issued by Allianz Global Assistance (AGA).

Depending on the type of card, the Citi credit card insurance coverage may include:

  • Foreign travel insurance
  • A comprehensive insurance policy for foreign travel for up to six months
  • Transit accident insurance
  • Accidental injury or demise while travelling on aeroplanes, buses, trains, or ferries in foreign locations
  • Interstate flight inconvenience insurance
  • Cover for unexpected cancellations, damaged or lost baggage, flight delays, or rental vehicle excess expenses for up to 14 days while travelling within Australia.

To be eligible for the complimentary Citi credit card insurance, you must book tickets using your card or through the Citi Travel Program.

Can I use PayPal to transfer from a credit card to a bank account?

You can easily link your credit card to your PayPal account. When you need to make a payment, PayPal makes an instant transfer from your bank account, provided you’ve linked and confirmed your credit card details.For credit card holders, you can transfer funds from eligible cards listed in the “Instant” section of the money transfer page.

Here is how you can transfer money from PayPal to your bank account:

  1. On the “My Wallet” tab, select “Transfer Money” and then click on the “Transfer to your bank account” option.
  2. Choose the bank account where you want to transfer the money and click “Continue.”
  3. Enter the amount, review and click “Transfer Now.”
  4. When you confirm the transfer, the amount should be moved to the bank account linked from the chosen credit card.

How do I file a Virgin Money credit card insurance claim?

To make a claim, you can either call Allianz Global Assist at 1800 072 791 or visit their claims page. If you’re making a claim related to any travel-related complimentary insurance, such as international travel or transit accident insurance, you may need to visit their travel claims website. Again, for filing a claim while travelling overseas, you can call Allianz at +61 7 3305 7499.

Before filing your claim, consider checking which complimentary insurances are available with your Virgin Money credit card. Customers who own a ‘no annual fee’ or ‘low rate’ credit card don’t get these benefits, while some other credit cards only come with guaranteed pricing and transit accident insurance.

Remember that you’ll need to submit proof that your credit card offers the complimentary insurance benefit which you are claiming. You can read the credit card complimentary insurance terms and conditions for details regarding the benefits available on your credit card.

Do I qualify for Bank of Melbourne credit card insurance?

You may be eligible for transit accident insurance, purchase security insurance, and extended warranty no matter which type of Bank of Melbourne credit card you own. 

Some credit card customers may get coverage for international or domestic travel insurance, rental vehicle excess in Australia, and price guarantee as well. 

However, the exact terms of the insurance coverage can differ based on the specific credit card. For instance, if you buy any personal items with a Level 1 credit card, your purchase security insurance may be valid for up to four months from the purchase date. For someone with a Level 2 credit card, such coverage may only be available for three months. 

How can I transfer money from a credit card to a bank account in ANZ?

The process to transfer money from credit card to a bank account for ANZ customers can be made online via the mobile app or over the phone. Here are the necessary steps for the transfer:

Call the ANZ general enquiries number on 132273 and verify your account information. Request to transfer the desired amount. You’ll then have to provide the bank account number and the BSB details to complete the transfer.

Log in to your online banking or mobile banking app and select the “transfer” option. Provide the bank account number, BSB details, and the amount you want to transfer. Confirm the details for ANZ to  transfer money from credit card to a bank account.

What to consider before transferring money from your credit card to your bank account in Citi?

You can transfer money from a Citi credit card to a bank account depending on the available limit of each. The process is known as a cash advance transaction, and Citi should allow you to transfer some portion of the total credit limit.

Transferring funds from a credit card to a bank account is likely to attract additional charges, so please consider the following potential costs:

  • A cash advance fee, which is a per cent of the total transfer amount
  • A 2 per cent transaction fee when you transfer money from a Citi credit card to a bank account
  • Cash advance interest rate applicable on the transfer amount without any interest-free period.

To learn more about such transfers, you can contact the bank via the online service desk, email, or by calling 13 CITI (13 24 84).

Can I use Qantas points on Emirates flights?

Yes, you may be able to use Qantas points on Emirates flights. You can check the complete list of prices at the Qantas Points Classic Flight Rewards tables. 

You can book your seats after a quick search on the Qantas website. Log in and look for an award seat on the route you want to take. All available seats on Emirates will appear in the search results.  

Emirates releases seats around 330-340 days out. The availability of award seats with Emirates is usually good, but like with other premium inventory, seats are limited, so try to book as soon as possible.

 

 

How do you receive money through PayPal?

Here’s how to receive payment via PayPal:

  1. Open a PayPal account and confirm your email address
  2. Share your mobile number and email address with the sender
  3. Once the payment is received, PayPal sends an email confirming credit to your account

Any money in your PayPal account can be transferred to your bank account or used for online shopping or can be transferred to family or friends.

Does Macquarie Bank offer any credit card insurance?

Yes, Macquarie Bank may offer credit card insurance; it just depends on the type of Macquarie Bank credit card you have. There is a range of credit card insurance offers you can benefit from when you take out a Macquarie Bank credit card.

If you have a Macquarie Black or Platinum credit card, you have access to travel insurance for you, your spouse and any dependent children while travelling overseas. Under this travel insurance you receive:

  • Interstate Flight Inconvenience Insurance, which provides cover for meals and clothing, depending on the delay
  • Medical Emergency Expense Cover, which offers you unlimited cover for most medical expenses, and limited cover for dental treatment and emergencies caused by an act of terrorism
  • Baggage, Money and Documents Cover, which is subject to certain sub-limits mentioned in the terms and conditions

As a Macquarie Bank credit cardholder, you could be eligible for Extended Warranty insurance, which provides an extension to the manufacturer’s Australian warranty on certain products. To access this cover, you must have purchased the product using your Macquarie Bank credit card.

Select Macquarie Bank credit cardholders might also be able to take advantage of Rental Vehicle Excess Insurance. This insurance will cover you for any excess or deductibles that you’re liable to pay during the rental period.

Most Macquarie Bank credit cards also come with purchase protection insurance which protects you against fraudulent transactions. You should check the terms and conditions to find out more.

What is the American Express credit card insurance coverage?

Several American Express credit cards, including the Gold, Platinum and Green cards, come with international and domestic travel insurance, shopping and purchase protection and smartphone screen insurance. All you have to do to activate your American Express credit card insurance cover is use it to pay for eligible purchases, travel, and a smartphone.

The complimentary travel insurance requires you to be less than 80 years old with no pre-existing diseases and your travel must begin and end in Australia.

To make an American Express credit card insurance claim, you’ll need to lodge your request with Chubb Claim Centre within 30 days. Submit the form along with supporting documents like medical reports, original invoices and receipts. You can also contact Chubb on 1800 139 149 or file a claim via the Chubb website.

How long does a credit card fraud investigation take?

If you’re wondering how long a credit card fraud investigation takes, you should realise that each institution will have its own process for investigating fraud. This means that the time it takes to resolve disputes can also vary, and it all depends on your card issuer. In general, however, it can take anywhere from 21 days to 90 days. 

The basic process involves raising a dispute about the transaction or transactions that you think were due to credit card fraud with your bank. If you succeed, any money you’ve lost due to this fraud will likely be credited to your account within three business days after the investigation is concluded. The time taken to credit money to your account may vary due to the type of dispute you’ve raised and if the business that the transaction was made with decides to challenge your claim. Some card disputes are known to take up to 45 days.

How to get a new credit card

To get a new credit card, generally you need to be at least 18 years old and have a good credit rating. You don’t need to be an Australian citizen. Usually you can apply online or in person at a branch of the card issuer. You’ll typically have to supply information like:

  • Your income and living costs (e.g. rent/mortgage, loan repayments, living expenses)
  • Your employer’s contact details
  • Details of your assets and any debts you are paying off

What should you do if your credit card is compromised?

Credit card fraud is a serious problem. If your credit card is compromised and you’re wondering what to do, here are a few precautionary steps to take.

Contact you credit provider – Get in touch will your credit card provider. If you feel your card has been compromised, you should be able to lock or block it.

Monitor your accounts – Keep an eye on your credit card accounts. Any unauthorised transactions could be a sign your credit card has been compromised.

Check your credit rating – It’s also important to check your credit rating, to ensure you’re not a victim of identity theft or some other financial mischief.

Can we pay stamp duty by credit card?

Different states also have different rules about whether you can pay stamp duty with a credit card. Check the payment options for stamp duty on your local state revenue office website.

Some allow payments only from a savings or chequing account, whereas others allow payment through BPAY using your credit card. Also read the fine print to see if BPAY payments on your credit card are considered cash advances, as this could attract a higher interest rate.