Commonwealth Bank Credit Card

With a savvy that has seen it outshine many others by virtue of being an Australian entity that has crept all across the globe, its credit card offering is no exception to its business image and strategy.

Walk with a giant

Beginning its operations in 1911, CommBank has a footprint and aptitude like few other banks. This is reflected online, where a very short, bold and concise rendering greets prospective credit card applicants.

Clicking through provides an insight into the thought that has gone into the website’s design, as one is encouraged to compare cards first before applying.

Step by step

The follow-on page from the comparison tab continues the yellow & blue theme and encourages one to look carefully at available low rate card options.

Basic criteria for application

The application criteria are simple and fuss-free, however, remains stringent. All in all, there is savvy and simple navigation that enables application and generates a feeling of reassurance.

Clicking on “Apply now” recognises existing customers, or takes new clients through to the online loan application process.

There is a current promotion for applicants, centred on the opportunity to win a $5,000 Flight Center gift card.

Applicants need to be 18 or older, be legally entitled to work in Australia and be able to demonstrate proof of income.

Zero fee per annum card

No fees will be levied on the card each year for the first year. Interestingly, if a client spends $1,000 more on the card the following year - not hard when considered against inflation rates - no fees are levied, ever. All one has to do is increase year on year spend by $1000 to avoid credit card fees forever.

Business solutions

CommBank also present a Business Card, but although it is a business credit card, there are no onerous financials to submit when applying for this card.

The holder essentially takes surety upon themselves and is personally liable for the debt accrued on the card.

This very smartly allows innumerable smaller business owners to access a business credit card without the usual profit & loss and year-end statements that are typically required by a credit card provider for business purposes.

Credit card options

There are essentially two options for a credit card. A Low Rate credit card that carries an annual fee of $59 appears first online.

The second option is the Low Rate Gold credit card that carries an annual fee of $89. Both carry a 13.24% interest rate on purchases and a rate of 21.24% interest on cash advances. The Gold Card option comes with sundry assorted extras like travel insurance.