Commonwealth Bank Awards Card Credit Card Review
Review of the Commonwealth Bank Awards Credit Card
There is an impressive reward card program available from Commonwealth Bank that offers it’s customers a large selection of rewards, ranging from merchandise to air travel.
Interest Rates, Fees & Charges
| Balance Transfer Rate |  |
5.99% p.a. for 5 months |
|---|---|---|
| Interest Rate on Purchases | |
20.74% p.a. |
| Annual Fee | |
$89 ($59 for qualifying customers) |
| Interest Free Period | |
up to 55 days |
| Cash Advance Rate | |
21.74% p.a. |
| Card Type | |
Standard |
| Credit Card Type | |
MasterCard |
| Rewards Program | |
Yes |
An added bonus of the scheme is that by linking two cards within your account, they give you bonus points collection, giving you even more bang for your buck (or dollar!).
Where do my Commonwealth Bank Award Card Points Come From?
You earn your points very simply by spending money on your credit card. The amount of points you obtain is determined by how much money you spend on the card, and also whether you use the American Express card or the MasterCard within your account.
Basic card holders receive:
- 1 point per $1 spent using the MasterCard
- 1.5 points per $1 spent using the American Express Card
It is worth noting that if you hold a gold version of the Commonwealth Bank Awards Card, you will get 2 points per $1 spent on the American Express Card, and platinum card holders receive a mighty 3 points per $1 spent on the American Express Card.
Bonus Points
If you purchase from one of Commonwealth Bank’s many “bonus partners”, you will receive bonus points to add to your tally, meaning there are even more ways to build up your rewards.
What Can I Spend My Points On?
Special Offers – The Commonwealth Bank Awards Card allows to spend your points on a large selection of items ranging from electronic equipment, right the way through to home-wares.
They will also send you a newsletter informing you of new special offers available.
Experiences – Have you ever wanted to drive a sports car, or take a hot air balloon ride? Well good news because this card also allows you to spend your reward points on an exciting range of fun experiences.
Air Travel – This card is also very handy for anyone who does a lot of air travel. You can redeem points against Velocity Airline travel, and also Air New Zealand flights.
Credit Back – This is one of my favourites! You can turn your points right back into cash which you can then spend again on your credit card. You can claim anything up to $250 in cash-back!
Gift Vouchers – Once you have amassed 4000 points you are able use your points to get some popular high street gift cards or vouchers. Perfect for that last minute birthday or Christmas present.
All in all the Commonwealth Bank Awards Card is a very diverse little card, with some great rewards and gifts available to it’s members.
Read the official terms and conditions
| Minimum Income | Minimum Age | 18 years of age | |
| Residency | Permanent Australian Resident | Credit Rating Requirement | Good |
| Min Credit Limit | $500 | Max Credit Limit |
| Annual Fee | $89 | Balance Transfer Fee | |
| Minimum Repayment | 2% | Interest Charged From | PurchaseDate |
| Late Payment Fee | $20 | Over Limit Fee | $10 |
| Overseas Emergency Replacement | $20 | Overseas ATM Balance check | $1.25 |
| Overseas ATM Withdrawal | $4 | Foreign Currency Conversion Fee | 2.95% |
| Rewards Points per Dollar | AMEX:1.5 MCARD :1 Point(s) | Points needed for Syd/Mel Return Flight | 33334 |
| Points needed for $100 Voucher | 10800 |
Ask A Question About This Card