Commonwealth Bank transforms credit card offering

Sydney, 15 September 2009:  The Commonwealth Bank is transforming its credit cards suite to offer more rewards, better value and to recognise customer relationships with the relaunch of Commonwealth Awards and the introduction of two new card types in the Low Rate and Low Fee Credit Card families, from October.

According to Stephen Karpin Executive General Manager Credit Cards Commonwealth Bank, the transformation is part of the Bank’s commitment to superior customer service by delivering greater value and enhanced benefits for Commonwealth Bank customers.

“Our customers have told us they want recognition of their relationship with us and we have found three distinct customer preferences for – more rewards, low interest rates and no annual fees.   In response, we have revamped our offering for each preference type while enabling Commonwealth Bank customers to receive a better deal on any of our new credit cards,” Mr Karpin said.

“Our new relationship with American Express means existing and new Commonwealth Awards customers can now gain awards faster by earning more points on what they spend.”

“The Commonwealth Bank is also the first major bank brand to introduce a Low Rate Gold Credit Card providing the benefits of an ongoing low interest rate and enhanced Gold benefits such as complimentary international travel and extended warranty insurance. 

“For our customers who prefer not to pay annual fees, we are launching our Low Fee and Low Fee Gold cards which will provide eligible Commonwealth Bank customers with the option of an annual fee free credit card with up to 55 interest free days.”

For customers where awards matter, Commonwealth Awards cardholders will now enjoy one account with two cards:

  • a Commonwealth Bank Awards American Express Card to maximise reward points earning; and
  • a Commonwealth Bank Awards MasterCard or Visa for the convenience of worldwide acceptance. 

The two Commonwealth Awards cards will be linked to one account, with one credit limit, one statement, and one annual fee.

“Existing Commonwealth Awards cardholders will start to receive information about the benefits and details on how to request our new Awards card offering in the coming weeks,” added Mr Karpin. 


For more information on the relaunched Commonwealth Awards products, please visit:, call 13 2221 or visit a branch.


Media looking for more information can contact:

Sarah Gibbons

Commonwealth Bank

Ph: (02) 9378 5096