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.

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

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.

Happy with card and using it.

Reviewed and recommended by Andrew on 31 Mar 2014

Great card. I pay everything via this card so that the points can build up. I pay it off as I go. So it is like getting something for nothing. The card is accepted anywhere and with the tap and go feature when you spend less than $100, quick shops are so much easier.

Free travel insurance and rewards

Reviewed and recommended by Lisa on 26 Oct 2016

I really like the insurance cover with travel bookings. That’s the main point for me.

The rewards/points are pretty good and you can easily transfer money between accounts with the app. It also provided some benefits with CBA home loans which is why I switched.

The annual fee is a bit hefty, though — $350, I think.

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

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.

Simple and easy

Reviewed and recommended by Eliza on 10 Aug 2016

Great company and great card. I’ve never had any issues with it. If I am confused or want something clarified, it’s equally simple to jump onto the web or call up to clarify.

i didn’t even apply for this card, but was it was sent to me for being a loyal customer.

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.

Awards and interest-free days

Reviewed and recommended by J on 28 Sep 2016

I wouldn’t move to another bank. Purchases are interest free for 55 days and I always pay it off so never pay interest, ever.

I get award points for using it too, and it comes with an American Express card, which earns more points. I use points for cash or gift cards, or I can donate to charity.

I have been with Commonwealth my whole life though.

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.

Good rewards but high interest rate

Reviewed and recommended by Bec on 20 Sep 2016

Rewards offered are quite good, with very fast delivery times.

CBA waived the card fees when I took up this product.

The overall appearance of the card is appealing to the eye. However, the Interest rate is exceptionally high.

CBA offer a wide variety of credit cards to suit people with all types of budgets, and there are easy repayment options.

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
  • 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
$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 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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