Commonwealth Bank Awards Credit Card

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.
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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

Love getting money for spending money

Reviewed and recommended by Sarah on 23 Jul 2013

I like this credit card because it gives me rewards for money that I spend. I then save up the points to spend on something for a special occasion. I also like the convenience of it being linked to my other accounts through NetBank, as it makes paying it off much easier.

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 card if you pay it off every month

Reviewed and recommended by L on 29 Sep 2016

This is a good rewards credit card for people who use their credit card for all purchases and then pay off every month before the interest is charged. If you only make minimum repayments then it’s not for you, as you are paying stacks of money for the points you earn using your card.

For example, if you earn 5000 points in a year and get a $25 voucher, but you are only making minimum repayments on your card, the majority of your balance is having interest charged against it. You might be paying $1000 in interest, all for a $25 voucher.

I get cash back if I use it often enough

Reviewed and not recommended by Annabel on 28 Oct 2016

The rate is quite high, which is fine for me as I always make repayments on time, but the awards don’t make the high rate worthwhile if you need to incur interest. I tend to use it for large purchases and then redeem my awards in the form of cash back.

Overseas transaction fees aren’t too high with the Commonwealth, and being a Visa it is generally accepted everywhere so it’s convenient for those who travel.

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.

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.

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!

Never had an issue with CBA

Reviewed and recommended by Ashton on 26 Sep 2013

It has low interest rates and CBA are a reliable bank. I have banked with these guys for close to 20yrs now and i have never had an issue with them. They offer credit increases which has helped me out numerous times.

Benefits and choice of rewards

Reviewed and recommended by Chad on 18 Jul 2016

Overall my card is great, has good features and benefits as well as free travel insurance, which is handy.
My card has the option for me to be able to redeem my points as Qantas Frequent Flyer or Commonwealth Awards points, which is useful and allows me to choose from a range of rewards.

Happy for now

Reviewed and recommended by Mike on 30 Sep 2015

I’ve always been with this bank. Applying was convenient and they know my history, so it helps with credit increases when I need them. Overall I have not particularly had any problems with the card or service and I find security in knowing they are a big four bank. There are also heaps of ATMs, which is great.

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 (mc/Visa)
Overseas earn rate (AmEx)
Same as standard earn rate
Overseas earn rate (mc/Visa)
Same as standard earn rate
Points cap per month (AmEx)
Points cap per month (mc/Visa)
Points cap per year (AmEx)
Points cap per year (mc/Visa)
Points earned on ATO payments (AmEx)
Points earned on ATO payments (mc/Visa)
Reward points (AmEx)
1.5 pts per $1 spent
Reward points (mc/Visa)
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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