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.

Before you begin

  • You need to be a primary CommBank credit card account holder, aged between 18 and 64 and living in Australia to apply
  • Cover is for balances up to $25,000
  • You can cancel your policy and get a full refund in the first 30 days if you change your mind
  • Cover for some benefits does not start for up to 74 days (60-day qualifying plus 14-day waiting period)

For more info read the CreditCard Plus Product Disclosure Statement (PDS).

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 rather than 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

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How to apply

Apply in NetBank

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
$30,000 (we'll only cover $25,000)
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

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

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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.