Things you should know

The outcome of the Credit Card Selector Tool is intended as a guide only. The products suggested for your consideration do not take into account your personal circumstances, financial situation or needs. You should consider the information provided about each card type to determine if it meets your needs before you apply. The display of products outside of the ‘Suggested’ and ‘Also consider’ options is not an indication of product ranking or suitability based on your responses.

Applications are subject to credit approval. Full terms and conditions are in our Letter of Offer. Fees and charges apply. Please view our Financial Services Guide and Credit Card Conditions of Use. Mastercard and the Mastercard brand mark are registered trademarks of Mastercard International Incorporated. Commonwealth Bank of Australia ABN 48 123 123 124 Australian credit licence 234945.

^X 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 Commonwealth (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. Bonus Points will appear on your statement as ‘Bonus Awards’ within 90 days of you meeting the eligibility criteria. If you choose to opt into Qantas Frequent Flyer Direct, all points including Bonus Points will be converted to Qantas Frequent Flyer points at a rate of 2.5 CommBank Awards points to 1 Qantas Point. Offer only available on one credit card per customer. We reserve the right to close the offer prior to 30/09/2021.

* For Low Fee and Low Fee Gold, the annual fee is waived in the first year. The annual fee will be waived in each subsequent year as long as you spend $1,000 in the previous year on your Low Fee, or at least $10,000 in the previous year on your Low Fee Gold card. Spend includes all purchases and cash advances, fully processed in that year (excludes pending transactions) minus any refunds.

 ^~ Offer available on new Low Rate and Low Rate Business (personal liability) credit cards (but not Low Rate Gold credit cards) applied for between 26/02/2021 and 30/06/2021. Offer not available on all other card types including CommBank Essentials and CommBank Neo, existing cards, and switches from other card types, and will be forfeited if you switch to a different credit card type during the 15 month period. The 0% p.a. interest rate on purchases (but not balance transfers and cash advances) is valid for 15 months from the date of card approval. At the end of the 15 month period, the interest rate will convert to the standard variable purchase interest rate at that time. We reserve the right to close the offer prior to 30/06/2021. 

^# Offer available on new Low Fee credit cards applied for between 26/02/2021 and 30/06/2021. A separate cashback offer applies to Low Fee Gold credit cards applied for during the same period. Offer not available on all other card types, existing cards, switches from other card types, and new Low Fee credit cards if you currently hold, or have held, any Low Fee card type in the 12 months prior. You will be ineligible for the cashback if your account is closed, switched to another card, or in default at any time prior to the cashback being credited to your account. To be eligible for the $150 cashback on a new Low Fee card, you need to spend at least $1,000 on purchases (not including balance transfers and cash advances) using your new card by 30/09/2021.  Cashback will be credited within 90 days of you meeting the spend criteria and will appear on your statement as 'CASHBACK $150'. Cashback only available on one credit card per customer. We reserve the right to close the offer prior to 30/06/2021. 

`Offer available on new Low Fee Gold credit cards applied for between 26/02/2021 and 30/06/2021. A separate cashback offer applies to Low Fee credit cards applied for during the same period. Offer not available on all other card types, existing cards, switches from other card types, and new Low Fee Gold credit cards if you currently hold, or have held, any Low Fee card type in the 12 months prior. You will be ineligible for the cashback if your account is closed, switched to another card, or in default at any time prior to the cashback being credited to your account. To be eligible for the $200 cashback on a new Low Fee Gold card, you need to spend at least $1,000 on purchases (not including balance transfers and cash advances) using your new card by 30/09/2021.  Cashback will be credited within 90 days of you meeting the spend criteria and will appear on your statement as 'CASHBACK $200'. Cashback only available on one credit card per customer. We reserve the right to close the offer prior to 30/06/2021. 

^ Points are earned on eligible transactions and are subject to points capping. Refer to the CommBank Awards Program Terms and Conditions for more information.

^^ To activate your international travel insurance cover, register your travel on NetBank or call our travel insurance provider. If you activate an international travel insurance policy included with an eligible credit card or where a claim event on other insurances occurs prior to 1 October 2018, the insurance is issued and managed by AWP Australia Pty Limited ABN 52 097 227 177 AFSL No. 245631 (trading as Allianz Global Assistance) on behalf of the insurer Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL No. 234708 for Commonwealth Bank of Australia.

If you activate an international travel insurance policy included with an eligible credit card or where a claim event on other insurances occurs on or after 1 October 2018, the insurance is provided by Zurich Australian Insurance Limited, ABN 13 000 296 640, AFS Licence Number 232507 through its agent Cover-More Insurance Services Pty Ltd ABN 95 003 114 145, AFSL 241713 (Cover-More) for Commonwealth Bank of Australia.

You need to activate your international travel insurance before each trip in order to have comprehensive level of cover. If you don't activate, you'll receive personal liability cover and overseas emergency medical assistance and overseas emergency medical and hospital expenses cover only.

Restrictions, exclusions (including for pre-existing medical conditions and persons aged 80 years or over), limits and excesses may apply to all insurances. Please refer to the relevant Credit Card Insurances Product Disclosure Statement and Information Booklet available from commbank.com.au/creditcardinsurance or any branch for full details.

¹ The annual fee is charged monthly at $5/month or $2/month if you:

• Set up automated monthly repayments using AutoPay from a CommBank transaction account; and
• Opt in to receive online statements on your CommBank Essentials account through NetBank (and to enable this, you maintain your NetBank facility and provide us with a valid email address).

² Lock, Block, Limit does not apply to transactions that are flagged as recurring (e.g. direct debits) and transactions not sent to us for authorisation. Except for the spending cap, transactions made via Tap & Pay set up on a compatible smartphone are not blocked. Some transactions made via CommBank branches, telephone, online or mobile banking, including transfers to other accounts, bill payments, and assisted cash withdrawals are also excluded. Other conditions apply.

³ We're unable to block cash advance transactions that aren't sent to us for authorisation. These will incur interest at a rate of 9.90% p.a. from the date the transaction is made until it's repaid.

⁴ Mastercard Travel Rewards are only available through participating merchants outside Australia. To receive the advertised cashback, pay with your Diamond or Ultimate Awards Mastercard at a participating overseas merchant and meet the offer’s terms and conditions. You must pay in the overseas currency of the offer – transactions made in Australian dollars are not eligible. An international transaction fee will apply for Diamond Awards cardholders only. Cashbacks may take up to 30 days to appear on your statement. Visit mtr.mastercardservices.com for a list of participating merchants and to find out more.

⁵ DBM Consultants, customers 18+ with a rewards/loyalty card in the 12 months to June 2019.

⁶ No monthly fee if you: (i) Spend at least $2,500 during your statement period; and (ii) choose to receive online statements. Otherwise the monthly fee is $35.

Spend includes all purchases and cash advances made using your Ultimate Awards credit card, minus any refunds. This is for all transactions fully processed in the given statement period (not pending transactions). You can opt in to receive online statements through NetBank or the CommBank app, which will require a valid email address.

⁷ 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 Ultimate Awards points work: 

You can earn up to 3 Awards points for eligible purchases you make on the Ultimate Awards card. 

You get 3 Awards points for every $1 spent on international transactions. International transactions include any purchase you make overseas or when shopping online from Australia if the merchant or entity who processes the payment is based overseas. 

You get 2 Awards points for every $1 spent at major Australian supermarkets, department stores and petrol stations. Earning these points depends on how the merchant categorises their business and provide us this information (directly or through their financial institution). You’re unable to get these points if you use an intermediary platform such as PayPal for these transactions.

You get 1 Awards point for every $1 spent on all other purchases.

Once you have spent $10,000 in any given statement period, you will earn 0.5 Awards points for every dollar you spend on any other purchases within that period. 

⁸ Pay no international transaction fees on purchases or cash advances you make overseas or in Australia (for example online) where the merchant or financial institution or entity processing the transaction is located overseas. For international cash advances, the cash advance fee will apply.

⁹ To gain access to participating airport lounges, you must present your Ultimate Awards card or your digital lounge access code on the Mastercard® Airport Experiences app, along with your boarding pass and identify yourself as a LoungeKey member for validation.

Each time you visit a lounge, you will be charged a lounge visit fee to your Ultimate Awards card. You will also be charged a lounge visit fee for each additional guest you bring with you.

Please note, your lounge access may be blocked if your primary account is closed, in arrears, reported lost or stolen, or has been blocked by us for any reason.

To redeem an offer visit the Mastercard® Airport Experiences app or airport.mastercard.com to select your preferred offer and generate an offer code. Present the valid offer code to the cashier and redeem the offer. Please note, offers vary by location.

For information on accessing lounges, offer locations, a full list of Terms and Conditions and Frequently Asked Questions, visit airport.mastercard.com or call +61 2 7202 3584, 24/7.