Commonwealth Bank Gold Awards Credit Card

My monthly spend: 
card features
rewards program
earn rate
sign up bonus
your earnings
Strong points earning rate of up to 2 Awards points for every dollar spent.
Minimum credit limit of $4,000
Overseas travel insurance to give you cover for up to 3 months travel.
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Commonwealth Bank Awards
Commonwealth Bank Awards
2 pts
per $1 spent
in 12 mths (approx.) what can I do with these?

Pros & cons

What's good?

What's not so good?

Strong points earning rate of up to 2 Awards points for every dollar spent.
Minimum credit limit of $4,000
Overseas travel insurance to give you cover for up to 3 months travel.
$119 p.a. annual fee.
Award winning Internet Banking and Mobile Apps to make it easier to manage your account.
PayPass for faster payments under $100.
Redeem points at Myer, Flight Centre or 1,000 items with CommBank Awards.
No signup bonus points.
Points are capped at 125,000 points per year.

User reviews

3.8 out of 5.0 based on 38 reviews87% of reviewers would recommend this card.

Rates and fees
Customer service
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.

Great rewards and service, nasty interest rate

Reviewed and recommended by Mathew on 29 May 2017

Both MasterCard and AmEx cards are provided, with great rewards points but a nasty interest rate. It’s good for those who never let interest accrue, bad for those who will.

Commonwealth Bank has the best customer service by far, and also security. They are always are there to help out with any requests.

Overall, 3.5 out of 5 stars.

Fees are a bit high, but cancelled out by rewards

Reviewed and recommended by Emma on 02 May 2017

The fees are slightly on the higher side for this card. However, depending on the amount you are actually spending, the cost evens out to the value of the rewards you can end up receiving.

I do like this card. It is simple to use and the CBA app is very helpful to manage and pay monthly balances. The card would be absolutely ideal if they could link a frequent flyer system to the card.

Earns points quickly, with an affordable annul fee

Reviewed and recommended by Brittany on 27 Nov 2016

I absolutely love this Gold Awards card. It has an an affordable annual fee.

My Qantas frequent flyer points are piling up quickly, so I can travel more often to see my family interstate, and it’s very easy to pay off your card by simply using your NetBank account. I’m very happy with this credit card.

Great range of rewards, satisfactory service

Reviewed and recommended by Rebecca on 01 Nov 2016

I’m a lifelong CommBank customer. I’ve always been satisfied with the level of customer service I’ve received on everything from enquiries to complaints and feedback.

A consultant went through all the options available and helped me select a card that offered a moderate fee and rewards. I haven’t claimed the rewards points as yet but I’ve recently reviewed the catalogue and there is a great range of gift cards and products available. If you are diligent and use the additional AmEx card (which accrues points at a faster rate) provided as part of the package, this card would be of even greater value. I’m very satisfied with this product.

Worldwide acceptance

Reviewed and recommended by Amy on 28 Oct 2016

I was randomly upgraded to receive the gold card. The card is pretty good, although I haven’t experienced any real rewards or offers from them since signing up. However, it’s MasterCard, which allows me to use it worldwide.

I feel pretty neutral toward the card — no negatives or real positives.

Helpful when I was overseas

Reviewed and recommended by Sophie on 25 Oct 2016

Commonwealth Bank has been very helpful, most noticeably during my time overseas. Whenever an issue arose they were able to organise the appropriate outcome based on my presented needs.

Their credit ratings are great and beneficial for my current income. They are also clear with all questions and provide detailed answers.

Saved me from hunger when no one would lend to me

Reviewed and recommended by Sasha on 17 Oct 2016

It’s expensive to have a credit card but it saved me a lot of inconvenience and hunger at a time when no one would loan me money. I was homeless with no one that would help. The only thing I could get was this card.

The interest comes monthly and is quite a lot but the award points seem like it’s worth that little bit extra.

Double fee but same rewards

Reviewed and not recommended by Kennedy on 26 Sep 2016

It has a wonderful awards program. The only let-down is paying more on the annual fee for the gold card, but the number of points given for every dollar spent is exactly the same as the base level awards card. You’d expect at least 2 points per $1, given that the annual fee is double that of the base level card.

Also, the interest rate is extremely high, perhaps one of the highest of all the credit cards on offer in Australia.

Customer service is good

Reviewed and recommended by Mathi on 22 Sep 2016

All issues and queries raised are dealt with promptly and efficiently. In this day and age, when when good customer service has almost become a thing of the past, it is heartening to see an organisation put customers first. It always gives someone a bit of hope when a company actually goes above the call of duty and provides good customer service.

Large variety in rewards program

Reviewed and recommended by Anna on 22 Sep 2016

The annual fee is around $129, if I recall correctly, and for one point per dollar spent it may take a while to earn a decent award, unless you’re a big spender.

The actual rewards program is fairly good, with a large variety of items up for redemption. I would recommend this card if you a spend a lot and don’t mind paying the high interest rate and high annual fee.

Show 28 more reviews

Basic details

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 Gold 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
$119 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 program basics

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

ATO payment earns rewards (amex)
ATO payment earns rewards (mc/visa)
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)
Reward points (amex)
2 pts per $1 spent
Reward points (mc/visa)
1 pt per $1 spent

Additional benefits

Airport lounge access
Complimentary flight voucher
Concierge service


This card comes with benefits worth an estimated $906

ShoppingEstimated value
Extended warranty
Valuation based on the assumption of making a $250 claim once every 5 years. There is no retail market for all-encompassing extended warranty insurance covering more than one item, so no premium saving.
Purchase protection
Valuation based on the assumption of making a $200 claim once every 5 years. There is no retail market for this type of insurance, so no premium saving.
Transaction fee waiver
Cardholders get a CommBank Travel Money Card without paying the usual $15 fee.
Overseas travel insurance
Valuation based on similar annual travel insurance policies available online for trips of up to 60 days.
Total estimated value$906
Annual fee$119
Net customer value$787
Disclaimer: Details of who, what, and where coverage applies to, as well as its duration and any coverage limitations will be listed in the credit card insurance product disclosure statement (PDS) on the card issuer's website. The names/labels of complimentary insurance products may differ from one issuer to another. Terms and conditions apply. Always check the insurance PDS when considering a financial product. Accurate as of 31st October 2015.

Minimum criteria for this card

What you need before applying

Be over 18 years old
You are a resident or citizen of Australia
Earn a regular income of more than $50,000 per year
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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