CommBank Low Rate Credit Card: $420 Cashback ($500 Monthly Spend, $6 Monthly Fee)
CommBank's Low Rate credit card is offering new customers up to $420 cashback — $70 per statement period for up to six periods when you spend $500 or more each month. The card has a $6 monthly fee and a low purchase rate from 10.99% p.a., making it a solid option for regular spenders.
Original title
Commonwealth Bank Low Rate Credit Card - $420 Cashback ($>500 credit limit, $72 Annual Fee, $500 Spend/mth)
Quick take
- People with steady monthly card spend above $500
- Those wanting a low-rate card with cashback
- Existing CommBank Low Rate or Low Fee cardholders
- Those avoiding monthly fees
- Up to $420 cashback is generous
- Rates from 10.99% p.a
- $6 monthly fee applies
- Cashback paid over 6 months
- Price
- Reward offer
- Value per hour
- $696
Applying creates a hard enquiry on your credit file. Several applications in a short time can hurt your credit score and home loan approval.
See all risk notes ↓Fill in your profile and we'll tell you whether you can do this (state, visa status, banks, memberships).
Set up my profile →How to do it
- 1Apply for the Low Rate credit card through the CommBank website or app as a new cardholder
- 2Spend $500 or more on eligible purchases in each statement period after the account is opened
- 3Cashback will be credited as 'CASHBACK' to your statement within 90 days of each qualifying period ending
- 4You can earn the $70 cashback for up to six consecutive statement periods, totalling $420
Conditions
- Offer is available on new Low Rate credit card applications from 15 March 2026
- Not available if you have held or activated any Low Rate or Low Fee card as a primary cardholder in the past 24 months
- One card per customer
- You become ineligible if the account is closed, switched to another card, or in default before the cashback is credited
Risks
- High riskApplying creates a hard enquiry on your credit file. Several applications in a short time can hurt your credit score and home loan approval.
- Caution$72 annual fee. After you get the bonus, decide whether to keep the card before next year's fee is charged.
- CautionCashback is paid monthly — miss a month's $500 spend and you miss that month's rebate
- NoteID verification required. Only submit documents in the official app or website.
- NoteNo end date given. The price or offer could end at any time.
- NoteThe $6 monthly fee applies regardless of use
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