Commonwealth Bank Gold Awards Credit Card

What do you want this card for?
Save money
Earn points
My monthly spend: 
$5,000
 
Offer
Card features
Rewards program
Earn rate
Sign up bonus
Points earned
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
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in 12 mths (approx.)
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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.

User reviews

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

Rates and fees
Rewards
Customer service
Convenience
Trust

Reviews from users

This card is fantastic

Reviewed and recommended by Jason on 02 Jul 2016

I initially only signed up for this card because of the generous offer from the CBA: purchase $500 worth of goods and receive $250 cash back. Since then I have used this card to fund a family holiday. The interest rate is fantastic and I can manage repayments easily through CBA NetBank.

I would recommend this card to others even though the CBA cash back offer has expired.

Mostly happy with this card

Reviewed and recommended by Granty on 10 Jul 2013

Most of the features and costs are quite good. The annual fee and additional cardholder fee seem excessive. The points awards are good and there are many options for redeeming the awards. Internet banking is never a problem and Bpay makes my payment of bills very easy and I have records.

Happy but fees are making me look elsewhere

Reviewed and recommended by Sharon on 08 Aug 2013

I really think you pay for what you get. I believe this has a good rewards system, but as we are not extensive credit card users, we don’t benefit much. I don’t like the high annual fee and would prefer a much lower fee. I have however noticed that most reward credit cards have high annual fees and low or no annual fees don’t usually offer rewards, so I guess it depends what your spending habits are like!

Good way to earn rewards

Reviewed and recommended by Lisa on 29 Sep 2013

We got a gold MasterCard as part of our loan for our home through the Commonwealth. It was ok while we had our mortgage cause we used to get the rewards from having gold card but not so good now that we are renting. It is a shame that they could not extend it to us now that we have sold up and are renting.

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.

Generally pleased with this card

Reviewed and recommended by Belinda Granville on 24 Aug 2013

I was upgraded to the gold version of my CommBank MasterCard when we took out our home loan and the low interest rate appealed to me. It has been very handy and I have used it for a couple of emergencies eg dog hit by car and needed expensive surgery. The bank texts me when a payment is due and if I am late they are slightly flexible and won’t always charge a late fee.

Overall a good all-round card

Reviewed and recommended by LilTantz on 04 Sep 2014

The rates have been good and we have never been stung with any outrageous fees or overdue fines. They have excellent customer service and have been flexible with changing our limits as our life circumstances change. They also keep us informed about any questionable activity on our cards. The rewards are ok, but would prefer more places to redeem gift vouchers or points towards travel (think this has recently been introduced). Internet banking is easy and convenient.

I pay a lot of unfair fees with this card

Reviewed and not recommended by Nathan on 02 Jul 2016

This card is very good and quick for purchasing products in stores or online. But it is very costly in terms of its fees and extremely high interest rates. Use this card with caution. I would instead recommend using a debit card instead with no hidden fees.

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.

Dual cards means more acceptance

Reviewed and recommended by Tom on 18 Jul 2016

It’s marketed by Commonwealth Bank as a card giving more rewards than others. These can be spent on stuff like white goods or cash out. The cash out is the option I use, but it’s not very generous as I would have to spend literally hundreds of thousands to get any notable cashback. The card is a dual card with a gold AmEx which does offer slightly better returns (i.e. you get double the points on purchases) but then it’s AmEx and lots of places still don’t accept it, which is crazy. So overall it’s good to have the two cards. They have a decent limit on them also, which is generous versus other banks.

Show 28 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
Gold
Card type
Mastercard & Amex
Card use
Personal
Credit rating
Any
Gambling transactions allowed
No
Joint application
No
Minimum age
18 years old
Minimum income
$50,000
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
$4,000
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 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

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

Fees

Annual fee
$119 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 & points

Rewards program basics

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

Frequent flyer points (AmEx)
N/A
Frequent flyer points (MasterCard)
N/A
Overseas earn rate (AmEx)
Same as standard earn rate
Overseas earn rate (MasterCard)
Same as standard earn rate
Points cap per month (AmEx)
N/A
Points cap per month (MasterCard)
N/A
Points cap per year (AmEx)
N/A
Points cap per year (MasterCard)
75,000
Points earned on ATO payments (AmEx)
Points earned on ATO payments (MasterCard)
N/A
Reward points (AmEx)
2 pts per $1 spent
Reward points (MasterCard)
1 pt per $1 spent

Additional benefits

Airport lounge access
No
Complimentary flight voucher
No
Concierge service
No

Benefits

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.
$50
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.
$40
Transaction fee waiver
Cardholders get a CommBank Travel Money Card without paying the usual $15 fee.
$15
Travel
Overseas travel insurance
Valuation based on similar annual travel insurance policies available online for trips of up to 60 days.
$801
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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