How do Commonwealth Bank credit cards work?
A. Upon approval of an application, a credit limit is determined based on measures such as income, current levels of debt and capacity to repay. This limit determines the total amount that can be outstanding at any one time. While the total balance of spend does not need to be paid off entirely each month, interest will be charged on the outstanding balance.
A. Upon approval of an application, a credit limit is determined based on measures such as income, current levels of debt and capacity to repay. This limit determines the total amount that can be outstanding at any one time. While the total balance of spend does not need to be paid off entirely each month, a minimum payment is required and interest will be charged on the outstanding balance.
