I Wasn’t Sure If I Needed a Credit Card—Then the Bill Hit Me
So here’s the thing—last year, I was flat-out broke by the third week of the month. Rent? Paid. Groceries? Sorted. But when my laptop charger suddenly died (why do they always break when you’re broke?), I didn’t have a cent left. A friend casually mentioned her Commonwealth Bank credit card saved her more than once. I was skeptical. I mean, aren’t credit cards just traps in disguise? Fees, interest rates, all that scary grown-up stuff.
But curiosity got the better of me. I googled “Commonwealth Bank credit card options” and was instantly overwhelmed. Low rate? Awards? Smart? What’s with all the names? My head spun. Yet I couldn’t deny how handy it would be to have a financial backup. And when I found out they had a Low Rate credit card with one of the lowest ongoing purchase rates in the market—my skeptical little heart softened.
Still, applying for one wasn’t an easy yes. Part of me worried—what if I messed up my finances even more? What if I forgot to pay on time? But another part of me felt… weirdly hopeful. Like, maybe it’s time I start learning to manage money better. And that’s when I jumped in—clumsy, unsure, but hopeful.
Commonwealth Bank Credit Card Types: Not One-Size-Fits-All
I didn’t realize how tailored they’ve made it. CBA’s not just throwing plastic at you. They’ve got different cards for different kinds of people:
Low Rate Credit Card: Great if you often carry a balance (guilty…)
Awards Credit Card: For the frequent flyer or serial shopper
Smart Awards Card: A blend of rewards + smart tech
Business Credit Cards: Yes, they’ve got options for the side hustlers too
I went for the Low Rate one—safe, simple, no extra fluff. But if you travel often or spend a lot on daily stuff, rewards might make more sense.
Why I Chose Low Rate: A Safe Bet for First-Timers
I’ll be real. I needed something low commitment. And this one felt like the “ayam kampung” of credit cards. Nothing fancy, but reliable. The purchase rate is around 13.24% p.a., way better than others I’d seen. Plus, they sometimes waive the annual fee for the first year.
And guess what? After 6 months, I didn’t just survive—I thrived. I even started using it for grocery cashback promos (yes, they have those too if you activate them on the app).
The App Makes a Huge Difference
Managing the card felt intimidating at first. But the CommBank app? Super user-friendly. Like, dangerously easy. I could set limits, track spending, even lock my card if I dropped it (which I did… twice).
The app also nudges you gently, like a friend reminding you, “Eh, don’t forget your payment’s due.” Which helped a lot. No late fees since I started.
Rewards and Extras: Only If You’ll Use Them
Now, a lot of people jump into the Awards cards because, well… who doesn’t want free flights, right? But here’s the truth—if you’re not spending enough or not disciplined, it’s like ordering a buffet when you’re only gonna eat rice.
So unless you’re a big spender or travel often, maybe stick to the simple ones. The Smart Awards Card also lets you earn CommBank Awards points, which can be converted to frequent flyer points or used in-store. Cool—but only if you know you’ll use them.
Things I Wish I Knew Before Applying
Your credit score matters. Even if they don’t scream it from the rooftop.
Interest-free days are only useful if you pay off in full. Don’t get tricked.
There are limits based on your income. I applied thinking I’d get $10k. Got $2k. Still thankful tho.
You can link it to digital wallets—Apple Pay, Google Pay, whatever.
So, Is a Commonwealth Bank Credit Card Worth It?
For me? Absolutely. It gave me breathing space when I needed it. But don’t just apply because your cousin said it’s good. Think about your habits. Do you pay things on time? Are you planning big purchases? Do you travel a lot?
Because if you treat it like a magic money wand, you’ll end up like me when I bought three scented candles I didn’t need. But if you treat it like a trusty umbrella—you might not need it often, but when the storm hits, you’re covered.