Covers your repayments

Pays 20% of your credit card balance each month (for up to five months) if you become involuntarily unemployed or temporarily disabled.

Pays off your balance

Pays off your credit card balance (up to $25,000) if you become permanently disabled, suffer a terminal illness or pass away.

One-off cash payment

Offers a lump sum up to $25,000, matching your credit card balance payment, to you or your estate if you become permanently disabled, suffer a terminal illness or pass away.

New customers

New applications for CreditCard Plus are no longer accepted from 8 June 2018. 

Existing customers

Existing CreditCard Plus customers will continue to be covered for claimable events for the life of the policy.

If you have any questions or want to make a claim, please call 13 3982 between 8am and 5pm, Sydney time, Monday to Friday.

Rates & fees

The CreditCard Plus premium is 45c for every $100 (or part of $100) that’s owing on your credit card balance up to $25,000.

CreditCard Plus premium examples

Balance owing 
Monthly premium
$1,000
$4.50
$3,000
$13.50
$25,000
$112.50
$30,000 (we'll only cover $25,000)
$112.50
About your premium
  • The premium is calculated using the date your statement is generated, not the date your minimum payment is due
  • The premium will be charged even if you pay off your credit card balance in full by the due date
  • The premium will be charged to your credit card and appear on your monthly statement as “CreditCard Plus Premium"
  • You may pay interest on the premium charge if you don’t pay the total amount owing on your credit card in full each month
  • Your premium includes stamp duty and you don't have to pay GST on it

 

How to make a claim

Can you claim?

You may be able to claim for CreditCard Plus if:

  • You're working more than 15 hours a week on average and your employment is non-seasonal
  • You lose your job involuntarily. You will not be able to claim if you quit your job, retire or accept voluntary redundancy
  • Your claim is caused by an injury or illness of which you have symptoms after your policy starts (e.g. you first received medical advice, treatment or consultation for the injury or illness after your policy started)

How to make a claim

  • Call 13 3982 between 8am and 5pm, Monday to Friday (Sydney/Melbourne time).
  • Our claims team may send you a claim form and a letter outlining the supporting evidence required for us to assess your claim

Tell me more

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Things you should know

CreditCard Plus is issued by The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809 AFSL 235035 (CMLA) and is a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124. A Product Disclosure Statement (PDS) for CreditCard Plus is available online, from any Commonwealth Bank branch or by calling 13 3982 and should be considered in making any decision about CreditCard Plus. You can also download a Financial Services Guide (FSG).

This advice has been prepared without considering your objectives, financial situation or needs. Before acting on the advice, please consider its appropriateness to your circumstances.