Introduction - For those that want a no thrills, low interest rate credit card by one of Australia's best banks then you cant go past the Low Rate credit card from Commonwealth Bank. Along with its cheap interest rate the low rate card has many more great features that make it one of the cheapest credit card deals in Australia.

Features - The Commonwealth Bank Low Rate Visa and Mastercard both come with an interest rate of 13.24% per annum putting it in the top 10 cheapest credit cards in Australia. Along with the low rate of interest comes a special offer of 5.99% balance transfer rate for a period of 5 months. By May 1 the interest rate on cash advances for the Commonwealth Bank Low Rate Visa will be 18.49% p.a. The Low Rate Commbank Visa comes with an interest free period of 55 days that gives you plenty of time to clear your balance before interest rate charges come into play. The annual fee for the low interest Commonwealth Bank credit card is a very reasonable $48 per annum.

Summary - If the Commonwealth Bank is your trusted bank and you want a credit card that is going to deliver on a low interest rate then you may wish to consider signing up for the Low Rate card by Commbank.