Commonwealth Bank Platinum 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
Strong earn rate of 2.5 pts per $1 spent on the Amex card.
$249 p.a. annual fee.
Rewards points never expire.
Add to comparison
Commonwealth Bank Awards
Commonwealth Bank Awards
1 pt
per $1 spent
in 12 mths (approx.)
Similar cards

Pros & cons

What's good?

What's not so good?

Rewards points never expire.
Strong earn rate of 2.5 pts per $1 spent on the Amex card.
Redeem points for Velocity Rewards or the Qantas Frequent Flyer Program. Conditions Apply.
$249 p.a. annual fee.
Complimentary international travel insurance, purchase security insurance and extended warranty insurance.
Lots of branches & ATM’s across the country if you ever need them.
Award winning Internet Banking and Mobile Apps to make it easier to manage your account.
CommBank concierge is available 24/7.
There is balance transfer offers available on other credit cards.
The interest rate and annual fee are as high as you would expect for a platinum credit card.
  • From 1 September 2018, new CommBank American Express Cards will no longer be offered.
  • From 1 November 2018, we’re closing all CommBank American Express Cards and transactions will be declined (some exceptions apply*).

User reviews

4.0 out of 5.0 based on 39 reviews87% of reviewers would recommend this card

Rates and fees
Customer service

Reviews from users

Great platinum card

Reviewed and recommended by KIRK S CLAREMONT on 20 Oct 2013

A must for any family, great interest free period, great travel insurance, can be used anywhere in the world and reward points can be encase of cash. I’ve had it for the past 10 years and I’ve never had a grievance. The staff are very considerate and if there is a legitimate reason for any default, they are prepared to listen and help where ever possible.

Happy financial situation

Reviewed and recommended by Carla on 26 Jun 2016

I believe Commonwealth Bank is the best bank to be with. They always look out for students and how to save money and interest so I can support myself financially. I’m happy with the service and how easy it is to use the apps and get cash in emergencies without a card. Happy with the overall service and security of the bank.

Loving the rewards

Reviewed and recommended by Chai on 23 Oct 2016

We got a bonus 80,000 points when we signed up, which definitely put us ahead. Now we are eight months in and have $700 worth of points — definitely worth the $250 annual fee. Rewards are amazing and extremely convenient to claim, and it’s so easy through the CommBank app. I’ve been recommending it to all my friends and family.

Good rewards, free insurance

Reviewed and recommended by Tejas on 29 Sep 2016

It’s a good card and it’s also helpful to have an AmEx card with it, which gives you more rewards every time you shop. You can also add your spouse and get an extra card for him/her and take advantage of extra points when they shop.

It’s a bit expensive in annual fees, but you can negotiate with the bank. Also it has travel insurance, so there’s no need to buy any other travel insurance when you’re going overseas.

It’s easy to get online banking with the CBA banking app. I would recommend it.

Best rewards platinum credit card for CBA

Reviewed and recommended by Jonathon on 01 Jul 2016

I like to use the CBA Platinum Rewards card, now with Qantas Frequent Flyer, to boost the rewards to fly with Qantas to destinations around the world. I can use the points to get gift cards, supermarket vouchers, phones with Vodafone, car rentals, and more like hotels and restaurants.

Great rewards

Reviewed and recommended by Arun on 02 Jul 2016

This is a great card with great rewards. Their customer service is seamless and easy to use. I got my card through the wealth package, so no individual credit card fee is paid. There are plenty of rewards options and gift cards are received within 3 days of ordering. Checking balance of points is one click away.

Great rewards card

Reviewed and recommended by Heidi on 14 Jun 2016

I love our rewards card! We get so many vouchers for everyday purchases that we have more than covered the annual fee and we have only had the card a few months. Customer service is excellent and I also like that the second card holder can view the transactions in their online banking and not just the primary card holder.

Collected many points, used them on great gifts.

Reviewed and recommended by Vasilios on 07 Jul 2016

My card has the ability to earn me up to 2.5 points for every dollar spent. I have been using it for many years and racking up plenty of points during this time. It has a low annual fee of $59.00, which is very affordable and with the reward points you can choose from over 1,000 Awards items. In the past, I have redeemed my points for fuel vouchers and redeemed points instantly in-store at Myer. As with any credit card, it is important that you pay off your purchases within the interest-free period on purchases. Interest on purchases not paid off in time attracts a high rate so you do need to be aware of this.

Money for jam!

Reviewed and recommended by Nick on 23 Aug 2016

I use this card for all of my expenses, such as petrol and groceries and all spending. For each $1 I spend I am awarded 3 points, and sometimes more for bonus offers. I then accumulate points which I can convert to cash or travel. It is a no-brainer, as you spend the money anyway, and you might as well spend smartly and generate fully free $$$$ and points

The best card I have ever had

Reviewed and recommended by Anni on 13 Sep 2013

This card can be used anywhere, the fees are low and the reward system outstanding. You get triple points every time you swipe your card which means the point builds up very quickly, and they have some awesome products to trade for points. I wish I knew about this card sooner.

Show 29 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 Platinum Awards Credit Card at the promotional balance transfer rate from:

  • Aussie
  • 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
$249 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
$2.50 or 2% 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)
1 pt per $1 spent
Frequent flyer points (MasterCard)
0.4 pts per $1 spent
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)
0 pts per $1 spent
Points earned on ATO payments (MasterCard)
Reward points (AmEx)
2.5 pts per $1 spent
Reward points (MasterCard)
1 pts per $1 spent

Additional benefits

Airport lounge access
Complimentary flight voucher
Concierge service


This card comes with benefits worth an estimated $1,341

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.
Guaranteed pricing / price protection insurance
Valuation based on the assumption of making a $100 claim once every 10 years. Extensive conditions apply. There is no retail market for this type of insurance, 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.
Interstate flight inconvenience insurance
Valuation based on similar domestic travel insurance policies available online that include interstate flight inconvenience.
Overseas travel insurance
Valuation based on similar annual travel insurance policies available online for trips of up to 60 days.
Transit accident insurance
Valuation based on similar global transit accident insurance policies available online.
Total estimated value$1,341
Annual fee$249
Net customer value$1,092
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 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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