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Credit Cards / Diamond Awards credit card

FAQs

  • Why is this card no longer available for sale?

    We regularly review our credit cards to ensure our product range meets customer needs, preferences and market conditions. As a result, we’ve decided to discontinue this product.

    What do existing cardholders need to do?

    No action is required for existing Diamond Awards customers. The current product will continue to function as usual, it’s just no longer available to new customers.

    I’m currently in the process of submitting my application for a credit card no longer for sale. What should I do?

    If you’ve started your application on or before 2 June 2023, subject to credit approval, you’ll still be eligible for the product and any associated offers. Please refer to the offer terms and conditions for complete details on our expired credit card offers page.

    Can I switch to another CommBank credit card?

    Yes, please refer to the switch your credit card page for more detail.

Rates & fees

Other fees may apply so check our standard fees and charges and read the key facts about our credit cards.

Type
Rates & fees
Conditions
Additional cardholder fee
$0p.a.
   
Annual fee
$384
   
Balance transfer rate
5.99% p.a.
Pay a low 5.99% p.a. in interest for the first 5 months on the balance you bring across, cash advance rate thereafter. Conditions apply.
Cash advance interest rate
21.99% p.a.
This will increase to 21.99% p.a. from 25 August 2023. Cash advances may be unavailable or subject to a limit restriction.  
Cash advance fee
$3.00 or 3.00% of the transaction amount – whichever is greater12
This will increase to $4.00 or 3.00% of the transaction amount (whichever is greater) from 25 August 2023. This is charged for cash advances from CommBank branches or other Australian financial institutions, ATMs, overseas terminals or financial institutions, funds transfers using CommBank networks and purchases of cash equivalent items, such as gambling, lottery tickets and money transfers.12
Interest free period on purchases
Up to 55 days
     
International transaction fee
3.50%
This is charged when you make a transaction in a foreign currency or make a transaction in Australian dollars using your Mastercard:
  • While overseas; or
  • In Australia (for example online) where the merchant, or the financial institution or entity processing the transaction, is located overseas
For cash advances, the cash advance fee will also apply.
Late payment fee
$20
The amount charged if you don't pay the minimum amount, plus any overdue amount, by your statement due date.
Minimum credit limit
$15,000
   
Purchase interest rate
20.99% p.a.
   
Qantas Points opt-in fee
$30 per year
This will increase to $60 per year from 25 August 2023. Applies to each credit card account earning Qantas Points, charged when you opt-in and each subsequent year on or around the anniversary of your opt-in date.

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Things you should know

  • 12 A maximum charge of $300 or a flat fee of $3.00 applies if your closing balance on previous business day was in credit. This flat fee will increase to $4.00 from 25 August 2023.

    The information on this website has been prepared without considering your objectives, financial situation or needs. Because of that, you should, before acting on the information, consider its appropriateness to your circumstances. Please view our Financial Services Guide. Applications for credit cards are subject to credit approval. Full terms and conditions will be included in our Letter of Offer. Bank fees and charges apply. Please view our Credit Card Conditions of Use. 

    Mastercard, Priceless and the circles design are registered trademarks of Mastercard International Incorporated.

    Commonwealth Bank of Australia ABN 48 123 123 124, Australian credit licence 234945.