If you’re looking for a simple and easy to manage credit card then take a look at the Commonwealth Low Rate credit card.

As a low rate credit card it maintains its reputation as an affordable credit card without compromising other important features.

Purchases on this credit card incur a flat interest rate. which is on par with both the Westpac and ANZ low interest rate credit cards. These cards also have a similar cash advance rate to the Commonwealth Low Rate MasterCard.

For a card that is meant to save you money on interest this may seem a bit steep to most people, but when compared to other similar cards, you’ll find that it’s pretty standard.

Balance transfers on this card are also very affordable with an introductory period of five months where the interest charged. This isn’t the lowest interest rate out there, but the length of time that this rate is available is three months longer than most cards in the low interest credit card category.

Paying your monthly balance in full and avoiding cash advances on this card can mean some great savings on a good all round card. Also, with a potential annual fee of (see pricing schedule below) and up to 55 days interest free this card would work well for those on a budget such as students or people who just want to save money!

However with no real stand out features from other cards that are classified as having low credit card interest, making a decision could be a tough one.

Current Annual Fee Pricing Schedule:

The card’s annual fee, but if you happen to be applying for (or already have) a Commonwealth Bank home loan or bank account then the annual fee of your credit card will be waived. Or, if you are an existing Commonwealth credit card customer then (depending on which credit card you have) your annual fee will be either waived or reduced.

Bank account or home loan     – Annual fee is waived
Awards Card                                – Annual fee is reduced
Gold Card                                      – Annual fee is reduced
Platinum Card                             – Annual fee is reduced
Low Rate                                       – Annual fee is reduced
Low Rate Gold                            – Annual fee is reduced
Low Fee                                        – Waived when you spend $1000 or more per year on your credit card
Low Fee Gold                              – Waived when you spend $10,000 or more per year on your credit card

See our top credit card picks in the Editor’s Choice category