It is reported that Commonwealth Bank launched a Neo credit card last year, after rival National Australia Bank launched the StraightUp zero-interest credit card in September last year.

(Picture / Internet screenshot)

[Australian Network Compiled Report] Commonwealth Bank of Australia (CBA) will provide zero-interest credit cards to small businesses , hoping to attract millennial entrepreneurs who do not like to accumulate debt.

Australia and New Zealand reported on the 30th that the Commonwealth Bank will extend its interest-free Neo credit card to small businesses. The credit card limit can reach 3,000 yuan, and small businesses can repay the loan in installments to the bank.

It is reported that Commonwealth Bank launched a Neo credit card last year, after competitor National Australia Bank (NAB) launched the StraightUp zero-interest credit card in September last year. The two credit cards were launched to cater to the increasing use of payment methods such as "buy now, pay later" by young consumers.

It is understood that young business owners are the latest target of the Commonwealth Bank Neo credit card, which has no interest and will not incur overdue or settlement fees. In response, Claire Roberts, head of small business banking at Commonwealth Bank, said the credit card will help start-ups quickly obtain working capital. (Compiled by Yuan Chunling)