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Low Rate Gold Mastercard



Electronic Wallet Service

Important Rates


Balance Transfer

Overseas spending



  • Free Domestic Travel Insurance
  • Free International Travel Insurance
  • Free Supplementary Cards
  • Purchase Protection Cover lasts for 90 days per year
  • Extended Warranty Warranty is extended for the same duration as the original warranty up to 1 year.


The Commonwealth Bank Low Rate Gold Mastercard is advertised as having Commbank’s lowest rate on transactions. When compared to other credit cards, this card’s interest rate is more on the moderate side.

This credit card also has an annual fee falling into the moderate category and a high interest rate on cash advances, while simultaneously offering a few perks and benefits.

Customers who choose the Commonwealth Bank Low Rate Gold Mastercard will also receive a number of complimentary insurances, including international travel insurance, extended warranty insurance and purchase security insurance. The international travel insurance is complemented by 24/7 emergency assistance if you lose your card while abroad.

Commbank also provide a moderate number of interest-free days on purchases, as well as the option to add an additional cardholder for free.

  • Moderate interest rate
  • Three complimentary insurances
  • Free additional cardholder
  • Annual fee charged
  • No rewards points
  • Moderate minimum credit limit

Who is it good for?

The Commonwealth Bank Low Rate Gold Mastercard may be suitable for customers looking to strike a balance between low rates and fees versus good perks and benefits.

While this credit card’s rates and fees are certainly not on the high side, they are moderate rather than low when compared to other credit cards in the market.

With a moderate minimum credit limit, this card is more suitable for everyday, rather than occasional, spenders. A free additional cardholder also makes it one of many options for couples looking for a shared credit card. The complimentary extended warranty insurance could also be a helpful draw for customers who have any big retail purchases on the horizon.

Frequent international travellers can also take advantage of the complimentary overseas travel insurance included, which is further complemented by access to exclusive experiences via Mastercard’s Priceless Cities and Mastercard Privileges.

What RateCity says

The Commonwealth Bank Low Rate Gold Mastercard offers some reasonable perks and benefits for what is advertised as a low-rate credit card. However, the credit card’s name and advertising do obscure what is certainly a credit card with moderate rates and fees, rather than low.

That said, this credit card does offer Commonwealth Bank’s lowest interest rate on transactions, which may be helpful to current Commbank customers. Lower interest rates and fees are certainly available in the market, but this credit card could be a good option for customers who want or need to stay under the Commonwealth Bank umbrella.

Although the Commonwealth Bank Low Rate Gold Mastercard does not offer any rewards points on purchases, it does have a number of perks and benefits not usually available with low-rate credit cards, which increases its value to potential customers.


To apply for the Commonwealth Bank Low Rate Gold Mastercard, first check to make sure that you can be approved for a moderate credit limit, as this is the card’s minimum. You can apply online for this credit card, and should receive a response within just 60 seconds. Make sure that you are aged 18 or over, have a legal right to work in Australia, and are not currently bankrupt.  

About the lender

The Commonwealth Bank of Australia was founded in 1911, and went public in 1991. Today one of Australia’s largest banks and part of the big four, the Commonwealth Bank is currently headquartered in Sydney. With banking operations worldwide, Commbank has over 1,100 branches and 4,300 ATMs. Customers can reach this bank 24/7 for general enquiries and to report lost, stolen or damaged cards. Besides credit cards, CBA also offers general banking products such as home loans and car loans.

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