CBA Low Rate Credit Card
CBA Low Rate Credit Card: low interest rates, flexible features, and strong security, ideal for everyday spending and cost-conscious users.
By: Zienic
Low Purchase Rate
Enjoy one of the lowest ongoing purchase interest rates among major Australian banks, helping you manage balances more easily.
Up to 55 Days Interest-Free
When you pay your balance in full each month, you can take advantage of up to 55 interest-free days on purchases.
Zero Annual Fee for Students
Eligible students can apply with no annual fee, making it a budget-friendly option for young adults.
Smart Digital Tools
Manage your card with ease using the CommBank app, which offers spending insights, customizable notifications, and budgeting tools.
A Closer Look at the CBA Low Rate Credit Card
The CBA Low Rate Credit Card keeps things simple for people who value affordability over perks. With a low ongoing interest rate (currently 13.90% p.a. on purchases), it’s especially useful for those who sometimes carry a balance from month to month. It’s not about flashy rewards or travel benefits—it’s about keeping your costs low. The card has a modest annual fee of $59, but if you’re a student, you may be eligible to have that waived. Plus, you can enjoy up to 55 days interest-free on purchases, provided you pay your balance in full and on time each month. This feature can make a real difference in day-to-day budgeting and planning. The card also comes with the convenience of digital payments via Apple Pay, Google Pay, and Samsung Pay. Plus, it includes CommBank’s Lock, Block, Limit feature, giving you greater control over your card security. Whether you want to temporarily block international transactions or set spending limits, you’re in charge.
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Is the CBA Low Rate Credit Card suitable for balance transfers?
While it doesn’t always offer a special balance transfer rate, its low ongoing purchase rate makes it a practical choice for managing balances over time.
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Can I get the annual fee waived?
Yes, eligible full-time students may have the $59 annual fee waived.
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Does the card come with rewards points?
No, this card focuses on low rates and fees rather than rewards or cashback.
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What’s the minimum credit limit?
The minimum credit limit available is $500.
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Can I manage this card through the CommBank app?
Absolutely. The card is fully compatible with the CommBank app, which allows you to monitor spending, make payments, and use smart budgeting tools.
How to Apply for the CBA Low Rate Credit Card
Applying for the CBA Low Rate Credit Card is straightforward and can be done entirely online. First, check that you meet the eligibility criteria: you need to be at least 18 years old, have a good credit history, and be a permanent Australian resident. Students may also apply but should provide proof of enrollment to be considered for the annual fee waiver. To start, head to the Commonwealth Bank website and find the Low Rate Credit Card page. There, you’ll see an “Apply Now” button. You’ll need to fill in your personal information, employment details, and financial data. Be prepared to provide documentation, such as recent payslips, proof of ID, and your current address. Once submitted, you’ll typically receive a response within minutes. If approved, your new card should arrive within 5–7 business days. You can activate it through the CommBank app or NetBank. If you're already a CommBank customer, the application may be even quicker since much of your information is already on file. For those new to CommBank, the process is still user-friendly and secure. Either way, applying for the CBA Low Rate Credit Card is a hassle-free experience.