Commonwealth Bank Low Fee Gold Card
Enjoy a convenient way to shop for less with the Commonwealth Bank Low Fee Gold Card which features a low annual fee plus a range of gold benefits including complimentary international travel insurance, extended warranty insurance, purchase security insurance and more.
- $90 ($0 for qualifying customers annual fee
- 20.24% p.a. on purchases
- 5.99% p.a. for 5 months on balance transfers
- Cash Advance Rate of 21.74% p.a.
- 55 days interest free
- Enjoy free access to MasterCard® Moments
Read the Commonwealth Bank Low Fee Gold Credit Card terms and conditions.
The Commonwealth Bank Low Fee Gold credit card may be the ideal choice if you want all the perks of a gold card but with no annual fee. The proviso is that you are already an existing customer of the Commonwealth Bank. If this is the case, then the card is automatically free for the first year, and you can keep it free by making an annual card spend of at least $10,000. For new customers, the annual fee is a reasonably low $144 ($114 for qualifying customers).
Before you rush off to make your application, you should understand that this type of credit card is not suitable for everyone. The Commonwealth Bank Low Fee Gold is in the category of low/zero fee credit cards, and the trade-off with the vast majority of these cards is that they carry a high rate of interest for purchases. That means if you fail to pay off your entire debt within the 55-day interest-free period, you are charged interest on what’s remaining. This particular card charges 20.74% p.a., so you can see it would not take too long before interest charged at that level wiped out the saving you made by not paying an annual fee. The Commonwealth Bank Low Fee Gold is therefore a credit card for the prudent and disciplined individual who rarely if ever carries over any debt into the following month.
If you have a manageable debt you wish to transfer from a non-Commonwealth Bank credit card, you can do so at a rate of
5.99% p.a. for 5 months after the account is opened. Obviously, transferring a huge amount that you cannot pay off in that time is pointless, as you will then be hit by the regular 20.74% p.a.. For this size of transfer, there are better balance transfer offers on the market.
Despite this low/zero fee offer, the Commonwealth Bank Low Fee Gold does not deny you the usual gold card benefits. These include complimentary international travel insurance for return trips lasting up to 3 months; up to a year’s extended warranty on most purchases; and protection against loss, damage or theft within the first 90 days with purchase security insurance.
Commonwealth Bank Low Fee Gold Key Features
- Preferential pricing removes the $144 ($114 for qualifying customers) annual fee for existing Commonwealth customers for the first year, and each subsequent year providing an annual card spend of $10,000 or more
- Interest rate of 20.74% p.a. p.a. on purchases
- Interest rate of 21.74% p.a. p.a. on cash advances
- Interest free credit of up to 55 days on purchases
- Balance transfer rate of 5.99% p.a. for 5 months
- Additional card at no extra cost
- Complimentary International Travel Insurance for return trips up to 3 months
- Extended Warranty Insurance on most purchases provides up to a year’s extra warranty
- Purchase Security Insurance covers against loss, theft or damage on most purchases within the first 90 days
- For amounts of $100 or less, MasterCard PayPass lets you pay by swiping your card over a PayPass reader
- Improved security chip protection and 24/7 fraud detection
- MasterCard Applause
- MasterCard Moments
- Emergency Overseas Assistance
- Option to purchase CreditCard Plus to cover the minimum monthly credit card repayments up to a maximum of $15,000 in the event of death, disablement and involuntary unemployment
The Commonwealth Bank Low Fee Gold may be just what you’re searching for if you want a card that’s brimming with gold benefits, but lets you avoid paying an annual fee.
Want Low Fees And Gold Status? Click Here To Get Your Own Commonwealth Bank Low Fee Gold Card
Related posts:
- Citibank Gold Credit Card – Application No Longer Available in Australia
- Credit Card Giants: A Look at Credit Cards From The Big Four
- Bankwest Breeze Mastercard
- Bank Of Queensland Platinum Visa
- Bankwest Breeze Master Credit Card
Posted on Monday, September 27th, 2010 at 3:29 pm
You can leave a response, or trackback from your own site.
