Annual. Fee
Up to $36

Interest Rates
20.99% p.a. / 21.99% p.a.

Rewards Rate
N/A

Intro Offer
Up to $200

The Commonwealth Bank of Australia (also known as CommBank) is one of Australia’s Big Four banks and offers six credit cards. This low-fee option has the smallest monthly cost if the minimum spend is met.

The CommBank Low Fee credit card does not earn Awards points, but cardholders can access cashback offers through the CommBank Yello Cashback Offers program.

Fees, interest rates and other details

Feature	CommBank Low Fee credit card
Monthly fee	$3 per month ($0 if you spend at least $300 per statement period).
Variable purchase rate	20.99% per annum.
Variable cash advance rate	21.99% per annum.
Cash advance fee	$4 or 3% of the transaction, whichever is higher.
Balance transfers	Balance transfers are not offered on CommBank credit cards as of December 1, 2023.
Cash advance fee	$4 or 3% of the transaction, whichever is higher.
International transaction fee	3.5% of the transaction.
Late payment fee	$20.
Minimum credit limit	$500.
Interest-free days on purchases	Up to 55 days interest-free (if the statement balance is not paid in full by the statement due date, you will lose your interest free period and interest will be charged on your unpaid balance from after the due date until you repay your credit card in full. Remember, this will not apply to cash advances).
Additional cardholders	Free (up to one, and applicants must be at least 16 years old).
Card network	Mastercard.
Intro offer	• For non-CommBank Yello customers: Up to $200 cashback in the first four months of card ownership (earn $50 cashback when you spend at least $500 per month for the first four months). * • For Commbank Yello customers in Everyday, Everyday Plus or Homeowner tiers: Up to $240 cashback in the first four months ($60 per month when you spend at least $500 per billing cycle).*
Cashback program	Access to the CommBank Yello Cashback Offers program, which cardholders must activate through the CommBank mobile app to redeem offers to receive cashback.
Insurance	Purchase protection and extended warranty coverage.*

*Additional terms and conditions apply.

Basic overview

The CommBank Low Fee credit card doesn’t charge a monthly fee if you spend at least $300 in a statement period. Otherwise, a $3 monthly fee (equal to a $36 annual fee) applies.

Whilst the Low Fee Credit Card does not earn Awards points, cardholders may be eligible for cashback benefits and find personalised perks through the CommBank Yello Cashback Offers program. They can also access offers from Priceless.com — a discount platform for Mastercard customers.

Understanding the monthly fee

To avoid paying the monthly fee, you’d need to spend at least $300 each statement period.

If you don’t spend that much, you can cover a year of monthly fees using the CommBank Yello Cashback Offers program to earn at least $36 in cashback. To use this perk and redeem offers, you must be eligible for Yello and have activated it in the CommBank mobile app. The amount of cashback you get depends on the offer, but any cashback earned will then be deposited into your account within 14 days.

Know the true cost of rewards

To earn credit card rewards, your account must be in good standing and you may need to meet spending minimums. It’s important to keep in mind that in doing so, you may also incur fees and interest charges in addition to the annual card fee. These costs may offset the overall value of the rewards you accumulate and potentially any ‘savings’ you make through an introductory offer or through redeeming points for other benefits. So, it’s crucial to balance your spending and account management to maximise benefits whilst mitigating costs.

Offers and rewards

Welcome offer

Earning rewards

Redemption options

Depending on your CommBank Yello status, you can qualify for one of two welcome offers.

Up to $200 in cashback is available for non-CommBank Yello customers when they spend at least $500 per month within the first four months of card ownership (during which they can earn $50 each month).

Up to $240 in cashback is available for CommBank Yello customers in Everyday, Everyday Plus or Homeowner tiers when they spend at least $500 per month within the first four months of card ownership (during which they can earn $60 each month).

The above offer and the redeemable value of the points were current at the time of writing and are subject to change.

The CommBank Low Fee credit card doesn’t earn points or cashback directly. However, eligible cardholders can earn cashback via the CommBank Yello Cashback Offers program, which is available through the CommBank app.

Once you have activated the CommBank Yello Cashback Offers program, select the offers you want, and then use your CommBank Low Fee card to shop.

For cashback to be credited, you must first activate the CommBank Yello Cashback Offers program via the app and select the offers you want. Once activated, any cash back you earn will typically be deposited into your account automatically within 14 days of the purchase.

Eligibility

Who may be eligible?

To apply for the CommBank Low Fee credit card, you must:

be at least 18 years old
be legally allowed to work in Australia
not currently in bankruptcy.

Who might be suited to this card?

According to CommBank’s Target Market Determination (TMD)[1], the CommBank Low Fee credit card is suited for customers who:

meet CBA’s credit assessment criteria, which includes demonstrating the capacity to service the credit facility without substantial hardship;
choose a credit limit typically above $500; and
will pay a higher interest rate.

Who might not be suited to this card?

CommBank’s TMD also states that this product is not suited for customers who:

require a card with a lower interest rate on purchases; and/or
are likely to carry a substantial balance over a prolonged period of time (unless a promotional rate and/or grace period applies).

How to submit an application

You can apply for the CommBank Low Fee credit card online through the card’s landing page. Just click the ‘Apply now’ button and follow the prompts.

According to the CommBank website, you will likely need:

proof of income, such as payslips
proof of permanent residency, such as Visa documents
liability details, such as current loan documents, if applicable.

CommBank will also ask you to provide your personal contact information, upload a photo identification, and set a credit limit. As you can appreciate, each applicant will be unique and there may be other information you need to give to support your application.

» MORE: How to activate your new credit card

Customer satisfaction ratings

Note: Customer review websites can be insightful, but keep in mind that the reviews may not accurately reflect the average experience; for example, unhappy customers may be overrepresented in these reviews. Products also change over time, and reviews may reflect experiences with features and benefits that are no longer available. Nevertheless, these sites are one way to learn more about the company and the products on offer before you make a decision.

As of this writing:

Based on over 155 Trustpilot reviews, CommBank scored: 2 out of 5 stars.
Based on over 48 Product Review ratings, the Commonwealth Bank Low Fee credit card scored: 3.8 out of 5 stars.

NerdWallet does not endorse the above scores or reviews and provides them for illustrative purposes only.

The CommBank Low Fee credit card is free if you spend at least $300 monthly. Otherwise, a $3 monthly fee applies. Don’t forget, there are also other fees and charges that you may need to pay.

The CommBank Low Fee credit card is available to applicants over 18 who are legally allowed to work in Australia and are not currently in bankruptcy. Other criteria will also apply.