At a glance
What you'll get
- Choose to earn CommBank Awards or opt-in to earn Qantas Points1 for $30 per year2.
- Earn 1 Awards point or 0.4 Qantas Points for every $1 spent using your Mastercard®3
- Earn up to 150,000 points3 or 60,000 Qantas Points a year
- Included international travel insurance, simply activate before you travel4
- 20.24% p.a. interest rate on purchases
- $6,000 minimum credit limit
- Lower annual fee than our Diamond Awards card
- Up to 1 year extended warranty on most purchases4
- Purchase security insurance available for most lost, stolen or damaged purchases4
- Priceless® Cities offers and experiences
Trade-offs
- Higher annual fee than our Awards card
- Lower points earning potential than our Diamond Awards card
- International transaction fees apply
- $10 p.a. additional cardholder fee
- Higher interest rates on purchases compared to our Low Rate and Low Fee credit cards. May not be suitable if you only make minimum repayments over a prolonged period of time
Choice of program
CommBank Awards program
CommBank offers the largest rewards program of any bank in Australia.5
- Earn Bonus Points when you make purchases with your credit card at one of our bonus partners
- Earn up to 150,000 Awards points per year3
- No expiry on points earned
- Redeem exclusively in-store at Myer6 and Flight Centre7, or choose from a range of items on the Awards site – including Gift Cards, electronics, appliances, cash back and much more
- Earn up to 1 Awards point per dollar spent3
- Use NetBank or the CommBank app to check or redeem points
Qantas Points
Dreaming of your next holiday? Opt-in to earn Qantas Points for $30 per year2
- Earn up to 60,000 Qantas Points per year3
- Choose from thousands of rewards such as flights starting from 8,000 points (plus taxes, fees and carrier charges, subject to availability), flight upgrades, hotel stays, wine or shopping at the Qantas Rewards Store.
- Earn 0.4 Qantas Points per dollar spent3
- Easily check your Qantas Points balance through your Qantas Frequent Flyer account.
- Your Qantas Points won’t expire when you earn or redeem Points at least once every 18 months
Not a Qantas Frequent Flyer yet? Join free and save $99.50
Control & security for your card
Lock, Block, Limit®
Instantly lock, block or limit your credit card for extra control through the CommBank app or NetBank.
Stay in control of your spending
- Setting a Spending Cap helps you keep on top of your spend. Plus you can still access additional funds if you need them
- Know where your money is going with Spending Tracker & Insights
- Set up a SurePay instalment plan to help you manage your repayments
Security protection
- 24-hour fraud protection that detects abnormal transaction spending habits
- Free protection against fraud and other unauthorised transactions with Mastercard Zero Liability
- 24/7 emergency overseas assistance if you lose your card with Mastercard Global Service™
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
$10p.a.
Annual fee
$249
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
21.24% p.a.
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 greater8
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.8
Interest free period on purchases
Up to 55 days
International transaction fee
3.00%
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
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
$6,000
Purchase interest rate
20.24% p.a.
Qantas Points opt-in fee
$30 per year
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.
Support
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Things you should know
* Offer available on new Platinum Awards credit cards (including Business Platinum), Diamond Awards credit cards and Ultimate Awards credit cards applied for between 30/04/2021 and 30/09/2021. Offer not available on all other card types, existing cards, and switches from other card types and is not available to customers who currently hold, or have held, any Awards card types in the 12 months prior. You will be ineligible for the points if your account is closed, transferred, or in default at any time prior to the points being credited to your account. The earning and redemption of CommBank Award points are subject to the CommBank Awards Program Terms and Conditions, available here. To be eligible for the initial 60,000 Bonus CommBank Awards points on a new Platinum Awards or Business Platinum Awards card, you need to spend at least $4,000 on eligible purchases (excludes balance transfers, cash advances and any purchase that is reversed or refunded) using your new card within the first 90 days of activation. You will receive an additional 20,000 Bonus CommBank Awards points when your card remains open 12 months after being activated, provided you met the initial spend criteria.
To be eligible for the initial 90,000 Bonus CommBank Awards points on a new Diamond Awards or Ultimate Awards card, you need to spend at least $5,000 on eligible purchases (excludes balance transfers, cash advances and any purchase that is reversed or refunded) using your new card within the first 90 days of activation. You will receive an additional 30,000 Bonus CommBank Awards points when your card remains open 12 months after being activated, provided you met the initial spend criteria.
If you choose to opt-in to Qantas Points in your credit card application, all CommBank Awards points including bonus points will be converted to Qantas Points at a rate of 2.5 CommBank Awards points to 1 Qantas point. Bonus points will appear on your credit card statement as ‘Bonus Awards’ within 90 days of you meeting the eligibility criteria and, if you opt-in to Qantas Points, will be automatically transferred to your Qantas Frequent Flyer account. Once CommBank Awards points are transferred to Qantas Points, they are governed by the terms and conditions of the Qantas Frequent Flyer program and cannot be converted back to CommBank Awards points or redeemed under the CommBank Awards Program. If you opt-out of Qantas Points prior to the points being awarded, bonus points will not be transferred to your Frequent Flyer account
Offer only available on one credit card per customer. We reserve the right to close the offer prior to 30/09/2021.
1 You must be a member of the Qantas Frequent Flyer program to earn and redeem Qantas Points. If you are not a Qantas Frequent Flyer member, join for free here. Membership and Qantas Points are subject to the terms and conditions of the Qantas Frequent Flyer program available at qantas.com/terms.
2 This is a non-refundable additional fee charged to your card when you opt-in to earn Qantas Points and each subsequent year on the anniversary of your opt-in. This is charged on top of your regular credit card fees. Fee applies to each account opted-in to Qantas Points.
3 How you earn or redeem CommBank Awards points will be subject to the Commonwealth (CommBank) Awards Program Terms & Conditions. You only earn points on eligible transactions (this excludes, for example, BPAY transactions, cash advances, balance transfers and payments to the Australian Taxation Office unless made using a Business Awards card). The number of points you can earn may be capped. Awards and the number of points required for Awards are subject to change at any time without notice.
How Awards points and Qantas Points work:
If you opt-in to earn Qantas Points, your CommBank Awards points earned each month are automatically transferred to your Qantas Frequent Flyer account at the end of each statement period, at a rate of 2.5 CommBank Awards points to 1 Qantas Point. Points transferred to your Qantas Frequent Flyer account are captured on your CommBank credit card statement. Awards credit card holders can earn up to 50,000 Awards points per year, which is equal to 20,000 Qantas Points. Gold Awards credit card holders can earn up to 75,000 Awards points per year, which is equal to 30,000 Qantas Points. Platinum Awards credit card holders can earn up to 150,000 Awards points per year, which is equal to 60,000 Qantas Points. Diamond Awards credit card holders can earn up to 1,000,000 Awards points per year, which is equal to 400,000 Qantas Points. Ultimate Awards cardholders can earn unlimited Awards points per year, which are then transferred to Qantas Points.
4 Travel insurance included on your credit card provides cover for you, your spouse and your accompanied children for return trips from Australia, up to a set period. You will need to activate your travel insurance for each trip in order to have a comprehensive level of cover. To activate your cover, register on Netbank, the CommBank app or call Cover-More on 1300 467 951 before you travel. If you don’t activate you’ll receive Base medical which includes personal liability cover and unlimited overseas emergency medical assistance and hospital expenses only. Restrictions, exclusions (including for pre-existing medical conditions and persons aged 80 years or over), limits, sub-limits and excesses apply. Before making a decision, refer to the Credit Card Insurances Product Disclosure Statement and Information Booklet for full conditions. Insurance issued and administered by Cover-More Insurance Services Pty Ltd (AFSL 241713, ABN 95 003 114 145) on behalf of the insurer Zurich Australian Insurance Limited (AFSL 232507, ABN 13 000 296 640) for Commonwealth Bank of Australia. If you purchase an Upgrade Policy, we receive a commission which is a percentage of your premium - ask us for more details before we provide you with any services on this product.including for pre-existing medical conditions and persons aged 80 years or over), limits and excesses may apply to all insurances. More information and the relevant Credit Card Insurances Product Disclosure Statement and Information Booklet can be found here.
5 Source: DBM Consultants, customers 18+ with a rewards/loyalty card in the 12 months to January 2021.
6 Pay with points is available in-store at Myer only. Ask a Myer team member in-store to check the redeemable value of your points. Some exclusions apply, including using points to pay Myer card accounts, purchase of Coles Group & Myer Gift Cards or Myer Gift Cards, lay-by, purchases at some food and service outlets; and Miele appliances. More information is available at myer.com.au. Points cannot be redeemed for cash. A maximum of 1 million points redemption per day applies. Redemption of Awards points using your credit card via Apple Pay is unavailable in-store at Myer stores Australia-wide. Customers must use their Awards credit card to pay with points at Myer. Refer to the CommBank Awards website, accessible through NetBank, for full terms and conditions.
7 All travel products and offers from Flight Centre Limited are subject to availability and can only be booked by the general public. The redemption of Awards points for travel at Flight Centre Limited is subject to terms and conditions of the CommBank Awards program available at commbank.com.au as well as booking agency online and retail booking terms and conditions. Flight Centre Travel Group Limited (ABN 25 003 377 188) trading as Flight Centre, The Universal Traveller and Travel Associates. ATAS Accreditation No. A10412. Redemption of Awards points using your credit card via Apple Pay is unavailable in-store at Flight Centre stores Australia-wide and for Flight Centre online via the Awards website. Customers must present their Awards credit card to pay with points at Flight Centre.
8 A maximum charge of $300 (or a flat fee of $3.00 applies) if your closing balance on previous business day was in credit.
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 and Priceless are registered trademarks, and the circles design is a trademark of Mastercard International Incorporated.
Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
Commonwealth Bank of Australia ABN 48 123 123 124, Australian credit licence 234945.
