How do I Activate my CommBank card? link
How to Apply for Commonwealth Bank Credit Cards: Eligibility, Activation, Interest Rates, Credit Limits, and Reward Points
CommBank offers a wide range of credit cards that cater to different lifestyles and financial needs. Each type of card has different features, benefits, and eligibility requirements. In this article, we will discuss everything you need to know about applying for and managing CommBank credit cards, including eligibility criteria, activation, interest rates, credit limits, and rewards points.
Eligibility to Apply for CommBank Credit Cards
To apply for a CommBank credit card, you need to meet the following eligibility criteria:
- Be at least 18 years old
- Have the legal right to work in Australia
- Not be currently bankrupt
- Have a good credit history
- Agree to a credit check
It is also a good idea to check your credit score before you apply for a credit card. You can find more information on eligibility requirements on the provider’s website.
How to Apply for CommBank Credit Cards
If you meet the eligibility criteria, you can apply for a CommBank credit card online. If you require a translator, you can use the government’s free Translating and Interpreter Services to communicate with the bank.
When you apply for a credit card, you may be asked to provide evidence of your income, any outstanding debts, and your visa details if you are not a permanent resident. You can provide proof of income through your payslips, while you can show your personal loan statements as evidence of any money you owe.
How to Activate CommBank Credit Cards
How do I Activate my CommBank card? link from here
To activate your Commonwealth Bank credit card, you will need to register for NetBank, the bank’s online banking platform, or the CommBank app. Once you receive your card, you can activate it on the CommBank app or online through NetBank by logging into your Commonwealth Bank account. You will also need to set a PIN for your credit card to be activated.
To activate your CommBank credit card, follow these simple steps:
- Call the Activation Number: The first step is to call the activation number provided on the card sticker or in the activation letter sent with your card. You will be asked to provide your card number, personal information, and a security code for verification purposes.
- Use theCommBank App: Alternatively, you can activate your card using the Commonwealth Bank App. If you already have the app, log in and select the credit card activation option. If you don’t have the app yet, download it from the app store and create an account.
- Visit a CommBank branch: If you prefer, you can visit a CommBank branch to activate your card. Bring the card and a valid form of identification, such as a passport or driver’s license.
Once your card is activated, you can start using it right away. Make sure to sign the back of the card and keep it in a safe place. If you have any questions or issues with activating your card, contact CommBank customer service for assistance.
Not all replacement cards need to be activated, and you can check your activated cards on the CommBank app.
How is Interest Calculated on Commonwealth Bank Credit Cards?
Commonwealth Bank credit card interest is calculated at the end of each statement period. The interest is calculated separately for ‘purchases’, ‘cash advances’, ‘balance transfers’ and ‘SurePay installment plans’. Interest on each of these categories is added to the balance. Fees are considered ‘purchases’.
Once the total balance is calculated, the relevant balances are averaged over the statement period and then multiplied by the applicable daily interest rate (the annual rate divided by 365) and multiplied again by the number of days within the statement period.
Interest is charged on the last day of each statement and includes the interest from that statement period, including the last day, along with any interest that has yet to be charged from previous statement periods. Interest accrues until the card is paid off in full. Late fee charges may apply if the minimum monthly payments and any overdue amount are not paid by the due date.
Interest-Free Period
If an interest-free period is available for your Commonwealth Bank credit card, interest will not be charged as long as you fully pay the closing balance for current and previous statement periods by their respective due dates.
The interest-free period automatically applies when you pay your entire account balance in full, starting on the day of the payment until the next statement period’s due date.
What is the Credit Limit on Commonwealth Bank Credit Cards?
Your credit limit for your Commonwealth Bank credit card will depend on the information you provided in your application, including the credit card you have chosen. Each CommBank credit card type also has its own maximum and minimum credit limit. You can also decrease your credit limit at any time using the CommBank app or via their online banking.
