Commonwealth Bank Awards Credit Card

What do you want this card for?
Save money
Earn points
My monthly spend: 
Card features
Rewards program
Earn rate
Sign up bonus
Points earned
Earn up to 1.5 Awards Points per $1 spent on the Amex card.
$59 p.a. annual fee.
Minimum credit limit of $500.
Add to comparison
Commonwealth Bank Awards
Commonwealth Bank Awards
in 12 mths (approx.)
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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 for Velocity Rewards or the Qantas Frequent Flyer Program. Conditions Apply.
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
Customer service

Reviews from users

One of the best credit cards I've ever had

Reviewed and recommended by Ling Ling on 07 May 2014

I’ve had this credit card for about 8 years now ever since I went to university. Not much has changed to the rates and fees and rewards program in all that time. It is a decent rewards credit card but the points don’t really add up to much, but that’s okay if you’re not a hardcore points chaser.

Love the rewards, avoid the interest

Reviewed and recommended by Kane on 01 Nov 2016

I’m not a huge credit card fan but I do love rewards, so this is why this card interested me.

I never let the interest rate kick in — I always pay the card off before the time comes to pay any interest — so this card works for me. I use it for large purchases and day-to-day things like groceries and bills.

So far so good!

Reviewed and recommended by Amelia on 23 Sep 2015

I had never had a credit card before this one. My theory has always been, if you can’t pay for it all up front then you can’t afford it. However, my partner convinced me to try it out and so far, just from our everyday spending we have redeemed a $250 Flight Centre gift card and a few $50 gift cards.

We have been using these cards for about a year now and we are thinking about moving up to the next level to ramp up our rewards.

Generally pleased with this card

Reviewed and recommended by Anon on 17 Jul 2015

This is a standard card with no bells and whistles, but it does have fuss-free convenience.

Reward points are often hard to accumulate and the amount you need to spend to receive the reward you want can be quit high. But if you pay all your bills on the card, then I guess it could be okay.

I keep it because I have been with the bank for longer than I can remember and generally pay off the balance each month.

Very pleased with this card!

Reviewed and recommended by Sonya 'PennySaver' on 20 Sep 2014

My card has been a joy to use with their friendly staff keeping in monthly contact with me to ensure my satisfaction. I pay my card off every month so avoid the hefty fees, though I have found my card to be very flexible when I need it the most. So a shout out to CommBank. Thank you!

Good awards program, high interest rate and fees

Reviewed and recommended by Anna on 04 Jul 2016

It has a decent rewards program, but at 1 point for $1, you need to be a big spender to reap the benefits. The annual fee is $119. One benefit is the companion AmEx card, which comes at no additional cost. The interest rate and fees are amongst the highest of any credit card available in Australia, which is a big negative.

Saved money using this card

Reviewed and recommended by Vanessa on 24 Oct 2016

I have always banked with Commonwealth bank. They have a lot of options on how to save money and earn interest. I have managed to save a lot of money using this card and highly recommend it to anyone, and the customer service is excellent. I’ve banked with them and used this card for years with no problems.

Good for day to day use

Reviewed and recommended by Mark on 28 Oct 2016

Good to use for small day-to-day transactions, but you need heaps of points to claim awards. The bonus is you get an AmEx card linked to the same account. You get only approximately 1 point per dollar spent on the normal MasterCard, but up to 2 points per dollar spent on the AmEx card.

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.

Generally OK

Reviewed and recommended by Susan on 03 Jul 2016

I’ve had this card for many years. Originally it was a Woolies card and then that changed. I’ve exchanged points for reward products a few times over the years and have always been satisfied with the goods and their prompt despatch. It’s easy to earn points and I have sometimes exchanged points for cash too, which is good if there are no products I want at the time.

Show 117 more reviews
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.

The basics

About this card

Card setup
Dual Card
Card tier
Card type
Mastercard & Amex
Card use
Credit rating
Gambling transactions allowed
Joint application
Minimum age
18 years old
Minimum income
Minimum income for pensioners
Same as standard
Rewards program
Commonwealth Bank Awards
Temporary residents


Additional cardholders
Additional card fee
$10 p.a.

Credit limits

Minimum credit limit
Maximum credit limit


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

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
Balance transfer fee payment due
First statement
Balance transfer from personal loan
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

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

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


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

Rewards & points

Rewards program basics

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

Earning points with this card

Frequent flyer points (AmEx)
Frequent flyer points (MasterCard)
Overseas earn rate (AmEx)
Same as standard earn rate
Overseas earn rate (MasterCard)
Same as standard earn rate
Points cap per month (AmEx)
Points cap per month (MasterCard)
Points cap per year (AmEx)
Points cap per year (MasterCard)
Points earned on ATO payments (AmEx)
Points earned on ATO payments (MasterCard)
Reward points (AmEx)
1.5 pts per $1 spent
Reward points (MasterCard)
1 pt per $1 spent

Additional benefits

Airport lounge access
Complimentary flight voucher
Concierge service

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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