Commonwealth Bank Awards Card – Details and Application

Information verified correct on September 29th, 2016

With the CommBank Awards Card, you can enjoy two ways to earn rewards points plus no annual fee for the first year when you apply online before 31 October 2016.

The Commonwealth Bank Awards card gives you the purchasing power of both a MasterCard and American Express, giving you two ways to spend money and earn points. This allows you to take advantage of one of the largest rewards programs available in Australia. Redeem points in-store at Myer or Flight Centre, or browse through over 1,000 reward items on the Awards program online store. If you haven’t earned all the points you need for your desired reward, you can use the Points Plus Pay option to redeem the rewards you want sooner. This card also offers a no annual fee for the first year of the card if applied online by 31 October 2016.

Product NameCommonwealth Bank Awards credit card
Rewards ProgramCommonwealth Bank Awards Program
Balance transfer rate (p.a.)5.99% p.a. for 5 months
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Cash Advance Rate (21.24% p.a.)
Balance Transfer Limit100% of available credit limit
Purchase rate (p.a.)20.24% p.a.
Offer end date31 October 2016
Annual fee$0 p.a. annual fee for the first year ($59 p.a. thereafter)
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 55 days on purchases
Cash advance rate (p.a.)21.24% p.a.
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$500
Minimum Monthly Repayment2% or $25 whichever is greater
Card TypeAmerican Express/MasterCard
Late Payment Fee$20
Foreign Currency Conversion Fee (MC)3% of transaction value
Foreign Currency Conversion Fee (AMEX)2% of transaction value
Complimentary Travel InsuranceNo
Available To Temporary ResidentsYes - Conditions apply
Joint ApplicationNo
Minimum Age18 years of age
Available to Temporary ResidentsYes - Conditions apply
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
Min Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$500
Annual Fee$0 p.a. annual fee for the first year ($59 p.a. thereafter)
Minimum Repayment2% or $25 whichever is greater
Late Payment Fee$20
Over Limit Fee$10
Cash Advance Fee$2.50 or 2.00% of the transaction amount (whichever is greater)
Overseas Cash Advance Fee$2.50 or 2.00% of the transaction amount (whichever is greater)
Overseas Emergency Replacement$20
Overseas ATM Balance check$1.25
Overseas ATM Withdrawal Fee$2.50 or 2.00% of the transaction amount (whichever is greater)
Foreign Currency Conversion Fee (MC)3% of transaction value
Foreign Currency Conversion Fee (AMEX)2% of transaction value
Gambling Transactions AllowedYes
Gambling Transactions Interest RateCash Advance Rate
Additional Cardholder Fee$10 p.a.
Number of Additional Cardholders1
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes

Pros

  • Enjoy a $0 annual fee for the first year ( thereafter). Offer eligible for customers who apply online by 31 October 2016.
  • This credit card has a balance transfer offer of 5.99% p.a. for 5 months and reverts to 21.24% p.a. thereafter
  • Earn 1.5 CommBank Awards points per $1 with the AMEX credit card. This is higher than the average 1:1 ratio.

Cons

  • There is a $10 fee for any additional cardholders.
Rewards ProgramCommonwealth Bank Awards Program
Rewards Points per $ (VISA/MC)1
Rewards Points per $ (AMEX)1.5
Rewards Points per $ (VISA/MC) Cap50,000
Rewards Points per $ (AMEX) Cap50,000
Points ExpiryNever

Commonwealth Bank Awards Card review

The CommBank Awards program lets you take your spending further with up to 1.5 points for each dollar spent on purchases. Redeem points in person at Flight Centre towards airfare, hotels, cruises and more. If you prefer department store shopping just head to Myer and use your card to pay with points. This is a first for an Australian rewards card. Earning points is easy too, with up to 1 point being added to your account for every dollar spent using the MasterCard, and up to 1.5 points when you pay with American Express.

Take advantage of $0 annual fee for the first year offer by applying before 31 October 2016 and receive a competitive interest rate with the CommBank Awards Card. If you have other credit card balances at a high interest rate, you can transfer those as well and pay a low rate for 5 months.

Benefits of the Commonwealth Bank Awards Card

  • $0 annual fee for the first year. If you apply online before 31 October 2016, you can benefit from the $0 fee for the first year promotion. Terms and conditions apply.
  • Rewards program. When using the MasterCard to make your purchases you will get up to 1 point for every dollar you spend, while you can earn up to 1.5 points for each dollar when you buy with your Commonwealth Bank American Express card. Redeeming points can be done in person at Myer simply by requesting this at the time of payment, or use it at Flight Centre, one of Australia’s leading travel agencies. Points are capped at 50,000 per year but will not expire.
  • Other rewards. Redeem points in other rewards programs, such as Virgin Frequent Flyer program and Qantas Frequent Flyer. You can also choose merchandise, vouchers or cash back through the Commonwealth rewards program.
  • Repayment protection. You can sign up for CreditCard Plus, which helps protect your repayments if you can’t make them due to unemployment or disablement. This insurance costs $0.55 for every $100 that you owe at the time your monthly statement is issued.
  • Interest-free days. The Commonwealth Bank Awards card offers you up to 55 interest-free days.
  • Balance transfer. Transfer your balances from other Australian-issued credit cards or store cards and be charged a rate of 5.99% p.a. for the first 5 months. After that the rate changes to the cash advance fee of 21.24% p.a. from other Australian-issued credit cards.

Features of the Commonwealth Bank Awards Card

When making comparisons between credit cards, there are some standard features that may vary between different cards and banks. Look at these closely to see which card is going to give you the most value:

  • Annual fee. You can take advantage of $0 annual fee for the first year if you apply online by 31 October 2016. The annual fee will then revert back to its standard rate of $59 p.a. after the promotional period.
  • Foreign currency conversion fee. For purchases that require a conversion of currency, you will be charged 3% of the Australian total when using your MasterCard, and 2% for the American Express.
  • Additional cardholder. There is a $10 charge for an additional card to be added to the account. This fee will be applied each year in addition to the standard annual fee.
  • Interest for purchases. Purchases made will accrue interest at a rate of 20.24% p.a.
  • Interest for cash advances. If you use your card to withdraw cash, you will be charged 21.24% p.a. interest on the balance.
  • Minimum credit limit. Credit limits are assigned based on your income, with the minimum limit being $500.
  • Worldwide acceptance. There are over 38 million locations around the world, including online, where MasterCard and American Express are readily accepted.

Commonwealth Bank Awards Program: Interview with Lynn Hamblet

Click here for video transcript

Jeremy: Hi. I’m Jeremy Cabral, from finder.com.au, and we’re here to talk to Lynn Hamlett, the Executive Manager of Credit Cards from Commonwealth Bank. Lynn, thank you for joining us.

Lynn: It’s great to be here.

Jeremy: When it comes to choosing a rewards credit card, why should someone choose CommBank?

Lynn: The CommBank Awards Program is the largest awards program of any Australian bank. All of our awards accounts come with an American Express card and a MasterCard card. This means our
customers can maximise their points earning potential, as well as having the freedom of knowing that their card is accepted at over 35 million locations worldwide. What’s more, with our Awards Program, our points never expire.

Jeremy: How can customers earn CommBank Awards points?

Lynn : Most purchases you make with your CommBank Awards card will earn you points. We also have a bonus partner program, whereby customers can earn bonus points at some of our selected bonus partners. For a full list of our bonus partners, you can visit the website.

The main difference with the CommBank Awards Program is that we not only allow our customers to redeem by the more traditional methods, such as over the phone or online, but our customers
have the power to redeem their points in-store at Myer and FlatCentre stores nationwide. All our customers need to do is present their card at Myer or Flight Centre stores and ask to pay with points. If you don’t have enough points to pay for the total amount, you can make up the difference, just like any other purchase.

Jeremy: So how can somebody apply for a CommBank Awards credit card?

Lynn: Once you hit Apply on Credit Card Finder, you’ll be taken to a secure website where you can complete your application. We offer a 60 second response.

How to apply for the Commonwealth Bank Awards Card

If you think that the Commonwealth Awards card is the right one for you, complete an online application form to start the process. Check before continuing to make sure that you are eligible for this credit card offer.

Eligibility criteria

To apply you must meet the following criteria:

  • Be at least 18 years old
  • Have the right to work in Australia
  • Not be an undischarged bankrupt

Required documents

Filling out the application will be easier if you have the following documentation ready. Once submitted, you should get a response back within 60 seconds.

  • Your Australian driver’s licence or passport numbers will be needed to verify your identity.
  • Contact information for your current employer will be needed.
  • Be prepared with your current income, assets and debts. This will include monthly expenses as well as other credit card payments and loans.
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50 Responses to Commonwealth Bank Awards Card – Details and Application

  1. Default Gravatar
    Kalpana | September 11, 2016

    Where is a link that I can use to apply for the card?

    Thanks,
    Kalpana

    • Staff
      May | September 11, 2016

      Hi Kalpana,

      Thank you for your inquiry.

      If you wish to apply for the Commonwealth Bank Awards credit card, please visit and submit your application directly on CBA’s website.

      Cheers,
      May

  2. Default Gravatar
    mike | March 7, 2016

    Can we redeem and book our own flights rather than going through flight centre?

    • Staff
      Sally | March 8, 2016

      Hi Mike,

      Thanks for your question.

      If you have an Awards card, unfortunately, you can only redeem flight rewards through flight centre.

      I hope this has helped answer your question.

      Cheers,

      Sally

  3. Default Gravatar
    Linda | January 13, 2016

    If im earning 40k what would my limit be on my card?

    • Staff
      Sally | January 13, 2016

      Hi Lind,

      Thanks for your question.

      As a financial comparison service, we’re unable to confirm what limit you’d be approved for.

      As well as your income, Commonwealth Bank will also consider your financial history when setting your credit limit.

      You might like to contact Commonwealth Bank directly on 13 22 21 if you’d like to discuss your options in further detail.

      I hope this has helped.

      Cheers,

      Sally

  4. Default Gravatar
    Bohdan | October 6, 2015

    what is the commonwealth bank awards phone number

    • Staff
      Jonathan | October 6, 2015

      Hi Bohdan, thanks for your inquiry!

      The contact number for the CommBank Awards Service Centre is 13 16 61.

      Cheers,

      Jonathan

  5. Default Gravatar
    Thecal | July 9, 2015

    Hi, I am in the market for a new credit card. I have been with one bank for the past 40 years and would like to try another bank. I have heard of a CBA credit card that will give you 40,000 bonus points. Is there such an offer? Thanks.

    • Staff
      Sally | July 10, 2015

      Hi Thecal,

      Thanks for your question.

      Unfortunately, this offer has expired. The bonus 40,000 points were available to new cardholders who applied and were approved for the CommBank Platinum Awards card before July 3 2015 and spent $500 on the card by August 31 2015.

      I hope this has answered your question.

      Thanks,

      Sally

  6. Default Gravatar
    Carol | April 14, 2015

    Where do I go on the website to check points for cash rewards?

    • Staff
      Jonathan | April 14, 2015

      Hi Carol, thanks for your inquiry!

      Checking your points balance can be done by logging into Commonwealth Netbank. Please refer to the link I have sent to your email providing these details and instructions.

      Cheers,

      Jonathan

  7. Default Gravatar
    francis | February 13, 2015

    Hi. Ihave a CBA visa card and several Commsec A/Cs however Ihave retired (not working. Is this a problem when applying for a Mastercard?
    frank

    • Staff
      Jonathan | February 13, 2015

      Hi Francis, thanks for your inquiry!

      This card does not have a minimum income requirement. Rather, applicants are judged on a case by case basis and assigned a credit limit based on this information. Please see the application requirements table at the bottom of the card’s review for the minimum credit limit. The bank will ask for supporting evidence to your claimed income per year.

      Cheers,

      Jonathan

  8. Default Gravatar
    dane | May 19, 2014

    if my card is canceled due to fraud and i receive a new one, what happens to my previous points earned, can i get them back?

    • Default Gravatar
      Trevor | January 29, 2015

      Could you please tell me how to get an awards catalogue?

    • Staff
      Jonathan | January 29, 2015

      Hi Trevor, thanks for your inquiry.

      The awards catalogue is available on the Commonwealth Bank website. Please refer to the link I have provided to your email.

      I hope this helps.

      Cheers,

      Jonathan

    • Staff
      Shirley | May 22, 2014

      Hi Dane,

      Thanks for your question.

      Your existing rewards account should be linked to your new credit card account. Please contact the customer service team at Commbank to confirm this.

      Cheers,
      Shirley

  9. Default Gravatar
    | March 9, 2014

    How do I claim my points?

    • Default Gravatar
      wally | April 11, 2014

      I have 90.000 award points, what can I purchase?

    • Staff
      Jacob | April 11, 2014

      Hi, Wally.

      Please refer to the Commonwealth Bank Awards website. They have an Commonwealth Bank Awards catalogue, which has a number of rewards and the points needed to redeem for each item.

      Thanks for getting in touch with us.

    • Staff
      Jacob | March 10, 2014

      Hi, Kristina.

      Thanks for your question.

      There are a couple of ways you claim your Commonwealth Bank Awards Points.

      You can log into NetBank, and then click on the Awards icon which is displayed next to your account details. Alternatively, you can redeem your points by calling the Commonwealth Bank Awards customer service team on 13 16 61. You can contact them from 8am to 8pm on Monday to Friday.

      I hope this helps.

  10. Default Gravatar
    Cheryll | January 19, 2014

    Now that American Express has linked up with Emirates To earn skyward points. Will this Commonwealth Awards credit card allow me to do so also?

    • Staff
      Shirley | January 20, 2014

      Hi Cheryll,

      Thanks for your comment.

      At the moment you can directly transfer your rewards points into Qantas Points or Velocity Points with CBA credit cards.

      However you can redeem your points through Flight Centre where you may be able to get Emirate flights.

      Cheers,
      Shirley

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