Commonwealth Bank Gold Awards Credit Card

My monthly spend: 
Card features
Rewards program
Earn rate
Sign up bonus
Points earned
A chance to win 1 of 60 $5,000 Flight Centre Gift Cards. Conditions apply.
Strong points earning rate of up to 2 Awards points for every dollar spent.
Minimum credit limit of $4,000
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?

A chance to win 1 of 60 $5,000 Flight Centre Gift Cards. When you apply for a new CommBank credit card by 31st Oct 2017 and activate by 15th Nov 2017. Conditions apply.
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
Customer service

Reviews from users

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.

Good as Gold

Reviewed and recommended by Hazel on 15 Aug 2013

Use it carefully and repay on or before due date and all will be “golden”. Naturally, you must have it with you at all times, so that access is at your fingertips. For the fairer sex, this means that you need to check that you have not left card in the other bag.

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.


Reviewed and recommended by David on 01 Jul 2016

Great rewards on this card with double points on AmEx. I have used my points mainly at Flight Centre to help cut the cost of travel. The complimentary insurance is as good as any travel insurance you have to pay for. Two trips a year covers the cost of the credit card fees.

Flexible rewards with security of Commonwealth

Reviewed and recommended by RO on 13 Sep 2013

This is a card that rewards you. The fees are reasonable, and the choice of rewards is great. You can choose cash, gift cards, or to redeem for particular products. The choice is yours. And you have the advantage of the strength and security of the Commonwealth Bank behind you, with access to ATM machines and branches throughout Australia as well as one of the easiest to use internet banking sites.

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.

Great rewards and insurance

Reviewed and recommended by David on 20 Sep 2016

The free travel insurance saves me approximately $400 a year as we do a fair amount of travel. Thankfully, I have never had to make a claim.

I accumulate about 80,000 points a year, which also goes towards the holidays. For an annual fee of $130, that is pretty good value.

I always pay the full amount on my card each month.

Love the award points

Reviewed and recommended by Kirsty on 21 Oct 2013

The card is easy to use, convenient and saves time when I am shopping. I use my card, instead of paying cash to enjoy the reward point and gain items of interest that we need around the home. I have used the award points also to purchase gifts for birthday presents as well.

Exciting rewards and good customer care

Reviewed and recommended by Anne on 22 Aug 2013

We find the rewards exciting and easy to access. Any queries are answered and solved very quickly. We have helped our children by going guarantor on a small house extension and helped with a car loan and they have helped us and made the whole experience a happy and pleasant one. We have nothing but praise for our experiences with the Commonwealth Bank.

Does what we require,

Reviewed and recommended by Denise Hair on 13 Jun 2015

Been with Commonwealth bank for over 50 years, had MasterCard since they came about. Downgraded from platinum as fees were too high for us. Pay our yearly fee with our points.

We mostly pay the account before due date so we do not have interest. All shops accept it and the monthly account can be emailed to you or you can get a paper statement (we have it emailed). Our account has always been correct and have never yet had any mistakes. Happy with service provided.

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
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 & points

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

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)
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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