The CommBank Neo offers low credit limits of up to $3,000, with a higher limit attracting a higher monthly fee. Although it doesn't charge interest, you still need to make minimum repayments for each statement period. The amount you need to pay is 2% of your closing balance or a minimum of $25, and will be listed on each statement.
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CommBank Neo Card
- Purchase rate
- 0% p.a.
- Annual fee
- $0 p.a.
Our verdict
A no interest, flat fee credit card with 0% foreign currency fees, CommBank Yello cashback offers and a monthly fee based on your credit limit.
Pros
-
Charges a monthly fee based on your selected credit limit
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The monthly fee is refunded if you don't carry a balance or make purchases
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Zero interest charges, 0% foreign currency conversion fees and no late payment fees
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Access to cashback promotion through the CommBank Yello Cashback Offers program
Cons
-
Maximum available credit limit of $3,000 is low compared to standard credit cards
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Unable to make cash advances
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You will not earn CommBank Awards points for your spending
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Does not offer any insurance cover
Details
Product details
| Product Name | CommBank Neo Card |
| Purchase rate p.a. | Purchase rate p.a. 0% |
| Interest-free period | |
| Min credit limit | $1,000 |
| Max credit limit | $3,000 |
| Card type | Mastercard |
Eligibility
| Available to temporary residents | Yes - Conditions apply |
| Joint application | No |
Rewards
| Bonus points | N/A |
Fees
| Annual fee | Annual fee $0 |
| Minimum monthly repayment | 2% of the closing balance or $25, whichever is greater |
| Late payment fee | $0 |
| Foreign currency conversion fee | Foreign currency conversion fee 0% |
| Additional cardholder fee | $0 |
Your reviews
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Amy Finder
Editor
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Sarah Megginson Finder
July 17, 2024
Hi Bruce,
In answer to your questions:
1. For a card that offers broad lounge access, Priority Pass is probably the go. However, the cards that offer Priority Pass benefits have quite high fees – it might be cheaper to just join PP directly (view prices here).
2. Most credit cards and debit cards will incur foreign transaction fees of 3-4%, plus whatever fees the ATM charges. You can view debit cards with no foreign transaction fees here.
3. The same applies with foreign hotels – fees of 3-4% are standard. You can view credit cards with 0% foreign transaction fees here.
Hope this helps!
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aj
September 10, 2023
if i use the card and pay off the enite balance within the statement period, do i incur the monthly fee?
Amy Bradney-George Finder
September 12, 2023
Hi AJ,
Yes, the monthly fee would still apply if you used the card for spending. Here are the terms and conditions on the CommBank website:
“If you don’t have any processed transactions in a given statement period and pay your previous statement closing balance in full by the due date, you won’t be charged a monthly fee for that statement period. We may process transactions later than the day you originally made them. This is when your transaction is no longer a pending transaction and has been fully processed by us.”
If you want a card that doesn’t charge a fee when you use it, you could compare no annual fee credit cards to find one with an ongoing $0 annual fee. I hope this helps.
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saroj
June 17, 2023
i recently got my neo credit card from commbank and i made some purchase.
My question is how do i get to know the due date to pay so that i can avoid the interest
Sarah Megginson Finder
June 20, 2023
Hi Saroj,
You will receive a statement from CommBank every month, which will outline the statement balance and due date for payment.
If you have online banking, you will be able to see the statement there, otherwise they may be posted to you.
Hope this helps!
Constance
September 27, 2022
I am waiting for my Permanent Residency to go through. I am traveling to the US and want to have a credit card. Can you help me?
Alanna Glenn Finder
September 27, 2022
Hi Constance,
You don’t need to be a permanent resident to apply for the Neo card. You just have to have the legal right to work in Australia, and you’ll need to provide your visa details to CommBank when you apply. You can also compare other credit cards available to temporary residents on Finder.
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Bruce
July 17, 2024
Hi Amy,
My wife and I are traveling to UK and Europe in 5 weeks time and will be in a lot of airports with some long layovers between flights, so i have 3 questions? What travelcard or some sort of card we can get now that gives you free use of airport lounges ( like in the old days ). Also to use in ATM’s to get out our own cash money we have deposited, without all the fees ,and to book on credit hotels and things over the internet. is their such a card , just a lounge free access would be great on those big stops.
regards
Bruce
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