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Commonwealth Bank - $0 Annual Fee on Gold Cards for The First Year!

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Commonwealth Bank - $0 Annual Fee on Gold Cards for The First Year!
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robhung on 23/08/2010 - 10:19 commbank.com.au (937 clicks)
Last edited 23/08/2010 - 11:05

Not sure how this competes with other banks, but no annual fee seems pretty good to me! If you're not happy about it then just cancel it a year later.

A choice between Low Fee, Low Rate and Awards. It had recently been available in July and had an expiry date of July 31st when I applied, but now it seems to have extended to August. If they do it again for September, I will update this page.

Enjoy!

UPDATE: Sorry, forgot to add in that you need to be an existing CBA customer, but I don't think it's too hard to apply for a simple bank account. Thanks Schumi5!

Financial Commonwealth Credit Card Gold

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  • coolsteps on 23/08/2010 - 10:31

    i wanted to do a product transfer from the student waiver awards card to the gold awards card but they told me i needed to make a fresh application to qualify for the promo offer. has anyone been successful in doing this? its shame they dont offer no annual fee cards for life or waive the annaul fees much these days considering the billions of profits they make. CBA has far too too many fees.

    • bargain88 on 23/08/2010 - 10:36
      +2

      Why would you move from the student waiver awards to the gold card? The advantages in the short term don't make up for the advantages in the long term. The student waiver was only introduced on the Awards card because they didn't have a student credit card available in their product line at the time (i believe). If you do move onto the Gold, yes you will have your fee waived for one year, but what happens after a year? You either stay on the Gold and pay the $114 annual fee, or you go back onto Awards and pay the $59 fee

    • robhung on 23/08/2010 - 10:39

      I agree with bargain88, the student waiver awards card was something I had missed out on too and I would recommend keeping that, applying for the separate Gold Awards and then revert back to the student once the Gold expires.

      • samehada on 23/08/2010 - 11:41

        well, the waiver is only for the duration of your study, you will have to pay full fee once you finished study. The only thing that annoys me about CBA is that there is NO way to waive the fee of their transaction account. With Westpac, I don't have to pay monthly account fee if I have $2000+ deposit to my account, or with NAB there is NO monthly account fee at all.

        • Evil-Elmo on 23/08/2010 - 11:57

          They recently had a promotion where you could get their transaction accounts fee free. I think it was for new customers, but I asked if I could have it on mine and they had no problem with that at all. So, it is possible, just maybe not as easy (and maybe not possible anymore, but you could ask).

          • anz on 23/08/2010 - 15:11

            @Evil-Elmo: Yes, only for new customers. Confirmed with branch staff. The lady reduced my monthly fee from $6 to $4 then.
            :)

            • Evil-Elmo on 23/08/2010 - 16:11

              @anz: oh, really? I was able to get my $6 fee cancelled (by going into branch), and my partner was able to get her $4 cancelled (by phoning). Maybe we got in early, or something.

        • anthony on 23/08/2010 - 12:13

          The only thing that annoys me about CBA is that there is NO way to waive the fee of their transaction account.

          Yes there are ways to have the fee waived, depositing $2000 a month is one of them
          http://www.commbank.com.au/personal/accounts/debit-mastercar…

          • samehada on 26/08/2010 - 15:25

            @anthony: actually, you don’t need to open new account, just call them 132221 and ask them about this and they will apply it to your existing account.

            The trick is you should ask them to switch your account to Complete Access as well since it is free of monthly fee anyway so you’d better go with a better transaction account.

            Thanks for this update, CBA has this promotion in Feb 2010 and then they stop it, now they have it back which is great. I hope they have this permanently.

      • JDogman on 23/08/2010 - 15:39

        CBA charged me a fee on my Student Awards Credit Card and when I asked them to waive the fees as I was still a student they changed my card to a low rate mastercard with fee reversed. I use over $1000.00 a year anyway so my fees would have been reversed on a low rate mastercard whether I was a student or not. CommBank left a bad taste in my mouth.

  • azndragon168 on 23/08/2010 - 10:45

    In the short term this card is great if you're going on holidays within the next year with the free travel insurance.

  • Schumi5 on 23/08/2010 - 10:53
    +1

    Just a heads up, you need to be an existing CBA customer to get the 1st year free

    First year annual fee will be waived if you are an existing Commonwealth Bank customer when you apply by 31 August 2010. Commonwealth Bank of Australia will waive your first year annual fee if you apply for this offer between 1/08/10 and 31/08/10

    • robhung on 23/08/2010 - 11:06

      Cheers, just updated the post.

      • cairnsn on 23/08/2010 - 12:59

        Confirmed with CBA branch staff. New customers can apply for this offer if they also open another account.

  • Make it so on 23/08/2010 - 11:14

    I prefer the $0 annual fee platinum card from Bankwest. It doesn't have rewards scheme, but does have the travel insurance, purchase protection, and no minimum spend.

  • SmiTTy on 23/08/2010 - 11:23
    +1

    dont see the bargain here, a lot of cards offer first year free (no annual fee)
    I got a flyer from NAB/amex last week to sign up to a credit card, no annual fee (ever) plus free 20,000 qantas points straight up

    The westpac Ignite card is also free forever

    • Future Kids on 23/08/2010 - 11:42

      Was that a personal offer? I desperately need that 20,000 QFF points.

      • muzzamo on 23/08/2010 - 13:14

        20,000 QFF points is worth about $110, just to put things in perspective.

        • carlenet on 23/08/2010 - 13:24

          Perhaps in cash reward terms but in flight terms it is worth a lot more! 128,000 for Melbourne - London return. Approximately $2000 if traveling in peak, so 20,000 is worth over $300 in this instance.

    • coolsteps on 23/08/2010 - 12:18

      SmiTTy is there a url link you can post for this flyer from NAB/amex you received to sign up for no annual fee (ever) card as i would be interested in getting the free 20,000 qantas points straight up too?

      • SmiTTy on 23/08/2010 - 14:35

        I hope i got it right. I'll check when i get home tonight and scan/post it here

      • SmiTTy on 23/08/2010 - 23:20

        Sorry dude - my bad. Dont know where i got 20,000 points from!!

        its 7,500.

        Qantas American Express Discovery Card - $0 annual fee
        - Apply by 15th October 2010
        - Receive 5000 points when you spend $300 on purchases within first 3 months
        - Extra 2500 points when used on selected Qantas products & Services (basically any qantas/jetstar related flights or non airfare products.

        Nonetheless, still not too bad - its almost a flight to melbourne i think - plus no annual fee.

    • excite on 23/08/2010 - 21:31

      This NAB promotion sounds great, but may not be available for everyone

  • Chinotto on 23/08/2010 - 11:53

    I've just received my HSBC credit card with no annual fee for life. I am planning to cancel my CBA card soon…

    • Dark Zeus on 23/08/2010 - 12:27

      Does it come with reward program, insurance, protection, etc etc?

      Mine is Citibank with no fee free for life and it does come with travel insurance, protection, etc.

  • Cobalt_ on 23/08/2010 - 12:15

    Is it me or does CBA no longer offer Visa cards?

    • bargain88 on 23/08/2010 - 12:40

      They made the switch over from Visa to MasterCard from about October last year

  • rack on 23/08/2010 - 13:16

    I have a commonwealth gold card for the last 5 years and no complains. Travel insurance is great with these guys. I made a claim with them and they processed it with no problems. Whole thing took 2 weeks. The amount you earn on purchases really pays of for my annual fee.

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