Commonwealth Bank Awards Credit Card

My monthly spend: 
$5,000
 
offer
card features
rewards program
earn rate
sign up bonus
your earnings
Earn up to 1.5 Awards Points per $1 spent on the Amex card.
$59 p.a. annual fee.
Minimum credit limit of $500
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Commonwealth Bank Awards
Commonwealth Bank Awards
1.5 pts
per $1 spent
-
 
in 12 mths (approx.) what can I do with these?

Pros & cons

What's good?

What's not so good?

Earn up to 1.5 Awards Points per $1 spent on the Amex card.
$59 p.a. annual fee.
Minimum credit limit of $500
Faster way to purchase under $100 at the shops using Mastercard® PayPass.
Redeem points at Myer, Flight Centre or 1,000 items with CommBank Awards.
Interest rates on purchases and cash advances are at the high end of the range.
Awards points are capped at 50,000 points per year which will hold back serious points hackers.

User reviews

3.7 out of 5.0 based on 127 reviews83% of reviewers would recommend this card.

Rates and fees
Rewards
Customer service
Convenience
Trust
Disclaimer: The opinions expressed about credit cards are the reviewer's alone, and do not reflect the views of Credit Card Compare or the credit card issuer. Reviews have not been approved or otherwise endorsed by Credit Card Compare.

Activate travel insurance for each trip

Reviewed and recommended by Partha on 30 Apr 2017

Cash back awards on the card are good. The AmEx card earns more points than the MasterCard.

There are not many bonus points on offer for existing card holders, and it’s also not tied to any fuel offer.

The travel insurance not automatic – you have to register for every trip separately to activate the insurance.

Overall it’s a no frills card.

I got a free flight with this card

Reviewed and recommended by Lucy on 01 Apr 2017

I would suggest this credit card to anyone looking. I’ve got a low annual fee. The interest rate is high but as long as you keep on top of payments you can enjoy the great rewards it has to offer.

I’ve just cashed in my points again at Flight Centre, so my Sydney-Perth flight was completely free.

Quick and easy transfers

Reviewed and recommended by Maddy on 06 Jan 2017

Commonwealth has great deals and the service is actually pretty good. If you need to transfer money to another person it gets on their card straight away (if they are with Commonwealth as well).

Overall if you choose Commonwealth, don’t get a keycard (no online shopping or PayPal) but get a credit card. It’s easy to make transfers as well.

Good rewards for normal spending

Reviewed and recommended by Amelia on 12 Dec 2016

It’s very easy to use, especially with more and more people not charging for AmEx.

We have been able to buy a few products through the rewards program just for using our awards cards on normal spending, and this has so far outweighed the fees involved. Another positive is that some products we have purchased through the rewards system were cheaper than retail when comparing the point to dollar ratio. On the other hand, some products seem to be more expensive.

My first love

Reviewed and recommended by Freja on 07 Dec 2016

The CommBank Visa Rewards card was my first credit card, and not unlike my first love: trustworthy, there for me when I’ve been strapped for cash, and swings me a little present every now and then to make me feel special. I’ve had other cards since, but nothing quite compares.

Good rates and low fees

Reviewed and recommended by Lewis on 07 Dec 2016

This is a very good card, with good rates. I recommend it. It has the lowest credit card interest rate around and fees are also very low.

Online banking is super easy and the staff, if you ever need to call, are exemplary in customer service. Customer service always to a high standard.

It’s an excellent system, easy to understand.

Disappointed by high fees and low rewards

Reviewed and not recommended by Angeliki on 28 Nov 2016

Yearly fees are high for a rewards card, and rewards are not that good. In fact, the only reward I have received was a fuel card when I first signed up.

The good thing is that it can be used everywhere. Also, CBA does have overall good security on cards if something was to happen.

Rewards easy to convert to gift or retail cards

Reviewed and recommended by Kylie on 27 Nov 2016

A great card. Rewards are easy to convert to gift cards or to use in store at Myer. It’s easy and convenient. Fees are reasonable.

I have used this card for many years. It includes travel insurance etc. I’ve never had any issues.

I always pay the balance off each month, therefore do no incur any interest charges.

Free travel insurance, easy-to-read statements

Reviewed and recommended by Linda on 24 Nov 2016

I like the fact that I pay no credit card fee because I have a home loan with the Commonwealth Bank. I get free travel insurance when I pay for my flights with the credit card.

Interest rates are reasonable and as I always pay my bill before the due date I don’t pay any interest. The monthly statements arrive long before the due date so I have plenty of notice to pay on time. The statements are simple to read and I can check my balance online anytime, or view past statements.

I feel secure using this credit card as the bank insures against fraudulent transactions.

Pretty good rewards, great security and trust

Reviewed and recommended by Jordan on 21 Nov 2016

I like the great flexibility of the awards program. I use this for the points and for a number of different things. I have bought Christmas presents with it along with flights, and have recently changed it over to Qantas Frequent Flyer points.

I had my credit card stolen and they called me up before I even realised to notify me and reimbursed the cost. Great customer service.

Show 117 more reviews

Basic details

About this card

Card setup
Dual Card
Card tier
Standard
Card type
Mastercard & Amex
Card use
Personal
Credit rating
Any
Gambling transactions allowed
No
Joint application
No
Minimum age
18 years old
Minimum income
N/A
Minimum income for pensioners
Same as standard
Pensioners
Rewards program
Commonwealth Bank Awards
Temporary residents
Yes

Cardholders

Additional cardholders
1
Additional card fee
$10 p.a.

Credit limits

Minimum credit limit
$500
Maximum credit limit
$50,000

Repayments

Interest charged from
Purchase date
Interest free period
Up to 55 days on purchases
Minimum repayment
2%

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers5.99% p.a.5 months0%100% of credit limit21.24% p.a.

Balance transfers to this card

Balance transfer earns rewards
No
Balance transfer fee payment due
First statement
Balance transfer from personal loan
No
Balance transfer processing time
10 - 14 days
Interest free days with unpaid balance
0 days
Maximum balance transfer
100% of credit limit
Available to existing customers
No

Banks you can't balance transfer from

You can't balance transfer to the Commonwealth Bank Awards Credit Card at the promotional balance transfer rate from:

  • Aussie
  • Bankwest
  • Commonwealth Bank

Rates & fees

Promotional interest rates

Interest ratePeriodFeeLimitRevert rate
Balance transfers5.99% p.a.5 months0%100% of credit limit 21.24% p.a.
PurchasesN/AN/AN/AN/A N/A

Ongoing interest rates

MonthlyAnnually
Cash advances 1.77% 21.24% p.a.
Purchases 1.69% 20.24% p.a.

Fees

Annual fee
$59 p.a.
Cash advance fee
2%
Dishonour fee
$20
Duplicate statement fee
$7
Foreign exchange fee
3%
Late payment fee
$20
Over limit fee
$0
Overseas ATM balance fee
$1.25
Overseas ATM withdrawal fee
$4 or 1.75% of the cash advance amount (whichever is greater)
Overseas emergency card replacement fee
$20
Transaction verification fee
$0

Rewards

Rewards program basics

First purchase bonus
N/A
Reward points expiry
Never as long as you keep your account active
Rewards program
Commonwealth Bank Awards
Sign up bonus
N/A
Spend required for bonus points
N/A

Earning points with this card

ATO payment earns rewards (amex)
ATO payment earns rewards (mc/visa)
N/A
Frequent flyer points (amex)
N/A
Frequent flyer points (mc/visa)
N/A
Overseas earn rate (amex)
Same as standard earn rate
Overseas earn rate (mc/visa)
Same as standard earn rate
Points cap per month (amex)
N/A
Points cap per month (mc/visa)
N/A
Points cap per year (amex)
N/A
Points cap per year (mc/visa)
50,000
Reward points (amex)
1.5 pts per $1 spent
Reward points (mc/visa)
1 pt per $1 spent

Additional benefits

Airport lounge access
N/A
Complimentary flight voucher
No
Concierge service
Yes

Minimum criteria for this card

What you need before applying

Be over 18 years old
You are a resident or citizen of Australia
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
Joint applications are not allowed
Temporary residents are eligible
Age Pension, Disability Pension and Widower's Pension are acceptable.
Carer's Allowance and Child Support Payments are acceptable.
Disclaimer: The minimum criteria pointers are intended only to be a guide. Your application may still be rejected by the bank even if you can answer 'Yes' to all the minimum criteria. The final decision regarding your application is up to the bank.

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