Commbank Almost Doubling its Annual Fee for Credit Card; Any Fee-free (or Small-fee) Alternatives?

AlanJ on 15/06/2023 - 15:32

I have been with Commbank's Awards Credit Card now for around two decades, and, although I don't seem to actually get any rewards nowadays (maybe I am spending less), I have always been very happy with the card and the bank. Now I have received a letter telling me of a raft of new conditions, the most important one is that the annual fee is to increase, in August, from $59 per year to $96. Just like a bank to wait until everyone is doing it tough and then making it even tougher for them!

I have just over a month to find a replacement card, where the issuing lender hasn't (yet) become too greedy. Do any Oz-bargainers know of a credit card (doesn't have to be "rewards", since we seldom saw any of those) that is still fee-free, or nearly so? Thanks for all advice!

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Comments

  • paranoidguy on 15/06/2023 - 15:34
    +2

    Amex. They have some fee-free options.

    https://www.americanexpress.com/au/credit-cards/all-cards/?i…

    • AlanJ on 15/06/2023 - 15:38

      Thanks for such a swift answer!

      • sumyungguy on 15/06/2023 - 15:41
        +6

        … but Amex isn't widely accepted enough to be your only card.

      • payless69 on 15/06/2023 - 15:55

        OMG! Want acceptance, swap it for a low fee gold, still the one!

        • sumyungguy on 15/06/2023 - 16:03
          +2

          Low Fee Gold: no longer available for sale

          • jv on 15/06/2023 - 16:10

            @sumyungguy: My Amex gold has no fees.

            • payless69 on 15/06/2023 - 17:13

              @jv: So did mine when Masters went bust and when I did not meet their spending req they tried to extort something like $280 from me

              • jv on 15/06/2023 - 17:15

                @payless69: Mine has always been free and I've never had an issue…

                Occasionally get offers to 'upgrade' it, but they are all fee paying after a year, so no thanks…

  • ESEMCE on 15/06/2023 - 15:42
    +9

    Bankwest Zero, no fees, no interest if you pay on time, no minimum spend, no international transaction fees.

    even Commbank offer fee free cards though (just need to meet the minimum spend)

    • Brick50 on 15/06/2023 - 15:57

      Got this card a few months ago for an overseas trip. Approved within 2 days, easiest card I ever got.
      I am going to keep it as an inbetween card as I keep churning through reward cards

  • AussieDeals on 15/06/2023 - 16:04
    +1

    Decent VISA & MasterCard No Annual Fee Options:

    Bankwest Zero & Zero Platinum MasterCards (Platinum provides free Travel Insurance - read T & Cs though) - $6000 minimum credit limit for platinum
    https://www.bankwest.com.au/personal/credit-cards/no-annual-…

    Bendigo Bank Ready Platinum MasterCard (Provides free Travel Insurance - again read T & Cs) - $3000 minimum credit limit
    https://www.bendigobank.com.au/personal/credit-cards/ready/

    ING Orange One Low Rate Classic & Low Rate Platinum VISAs (Platinum provides free Travel Insurance - check T & Cs) - $6000 minimum credit limit for platinum
    https://www.ing.com.au/credit-cards/orange-one.html

    (NAB) Kogan Rewards Black VISA (earns one kogan point - worth 1 cent on Kogan.com.au - per dollar spent)
    https://www.koganmoney.com.au/credit-cards/?kref=kgnhp-ess&u…
    (Start Application today to get $500 Kogan credit if approved & you spend $3000 over the first 90 days)

    AmEx Options:
    As posted above - Qantas Discovery, Essentials, Velocity Escape, Low Rate cards are all no annual fee options. First three of those AmEx cards earn points

    • Mechz on 15/06/2023 - 19:35
      +1

      Jesus, anything but Kogan.

  • jv on 15/06/2023 - 16:09
    +3

    Commbank Almost Doubling its Annual Fee for Credit Card

    2 x zero = zero.

    • AlanJ on 16/06/2023 - 10:50

      We are clearly talking different Commbank cards…. mine is the "Commbank Award" card. I should have made that clearer.

      • jv on 16/06/2023 - 10:52

        mine is the "Commbank Award" card.

        So is mine.

        CBA Mastercard Platinum Awards.

        • AlanJ on 16/06/2023 - 10:57

          I don't see "platinum" mentioned anywhere on my card… you must be one of Commbank's chosen ones! Is it really fee-free and gives rewards…. and do you know if it's still available?

          • jv on 16/06/2023 - 11:01

            @AlanJ:

            Is it really fee-free and gives rewards

            Yes…

            and do you know if it's still available?

            No idea… They converted it from Visa to Mastercard many, many years ago and told me that it will always be fee free.

            • Neoika on 18/06/2023 - 23:09

              @jv: All CBA credit cards seem to be seen a change in August.

              • jv on 18/06/2023 - 23:13

                @Neoika: Nope, mine will always be free…

  • Drakesy on 15/06/2023 - 16:36

    churn n burn the offers.

  • techno2000 on 15/06/2023 - 16:49
    +4

    Coles mastercard.
    https://www.coles.com.au/credit-cards/no-annual-fee

  • Ocker on 15/06/2023 - 17:07
    +1

    28 degrees

    • payless69 on 15/06/2023 - 17:14
      +1

      together with mdeibank and optus then no longer u need a password manager?

  • EightImmortals on 15/06/2023 - 17:09
    +1

    Nice thread, I just checked and my NAB card has gone up to $195 bucks as well. Might have to have a word.

  • USER DC on 15/06/2023 - 17:45
    +1

    Westpac is increasing it by $25 too

  • Mechz on 15/06/2023 - 19:42

    Call them and tell them you'll take all your business elsewhere if they don't make it zero $

  • trashcan on 15/06/2023 - 21:53
    +1

    Change your credit card with CBA to their low fee offering, (https://www.commbank.com.au/credit-cards/low-fee.html) if you want to forgo rewards and not pay a fees (if you spend more than 1000 on your card every year)

    • Neoika on 18/06/2023 - 23:07

      Change from 25 Aug as well. $300 per mth, $3600 per yrs or $3 fee/mth.

      BTW, it has rewards, not awards.

      • AlanJ on 19/06/2023 - 09:45

        Yes, I notice that the card that supposedly gives "rewards" is called the "awards" card. I am sure that the subtle variation in wording has some significance somewhere that absolves the CBA from being criticised for not giving the benefits the customer expected. Whether it's an award or a reward, lately I haven't been getting anything.

        • Neoika on 19/06/2023 - 10:09

          The card having access to awards also comes with rewards. CBA debit card also comes with rewards.

          • AlanJ on 20/06/2023 - 11:01

            @Neoika: If the Commbank people explain it to me in just that way, they will win the argument hands down. I can't understand the difference! But I am suspicious enough to be sure that there IS a difference, and that the difference allows Commbank to promise more while delivering less.

  • AlanJ on 16/06/2023 - 10:54

    Lots of great ideas here; nice to know the free ones still exist. Thankd for all suggestions!

  • wekimekigugudan on 19/06/2023 - 10:05

    Why are banks making it more difficult during difficult times

  • palmplex on 10/08/2023 - 22:14

    I had the misfortune to get an Awards credit card recently. It's my first CommBank product.

    Never again. Unlike every other bank I've used it's impossible to contact them. Especially when travelling which is the whole point of the Awards credit card with zero foreign transaction fees

    You HAVE to make a phone call to contact them , if you use their app and messenger service chatbot it just keeps repeating call CommBank. I've been on hold for an hour and no answer .

    Each time an international call for 1 hr, then 15 mins , then 20 mins etc and still no one answers ( ignoring the receptionist). It's great they have an Australian call centre, shame it's totally dysfunctional!

    Anyone else had similar experience?

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