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Our verdict

Offers Awards points per $1 spent, with a 20.99% p.a. interest rate for purchases and $8 monthly fee.

The Commonwealth Bank Awards Credit Card is an entry-level rewards card that earns 1 point per $1 on eligible spending, including most everyday purchases.

While many rewards credit cards have an annual fee, the CommBank Awards Credit Card charges an $8 monthly fee. This is equivalent to a $96 annual fee, which is competitive for a rewards card. But it doesn't include travel insurance, lounge passes or some of the other perks you can get with rewards cards that have higher fees.

Pros

Uncapped CommBank Awards points per year
Free additional cardholders
Compatible with Apple Pay, Google Pay and Samsung Pay

Cons

Relatively high 20.99% p.a. interest rate for purchases
3.5% foreign currency conversion fee
Doesn't include travel insurance, lounge passes or some of the other perks you can get with other rewards cards

The CommBank Awards Credit Card offers a choice ways to redeem points through the CommBank Awards program, including cashback, gift cards and point transfers to partners including Velocity Frequent Flyer. Unlike the CommBank Smart Awards and Ultimate Awards cards, this one does not give you the option of earning Qantas Points instead of CommBank Awards Points (effective from 25 August 2023). As this card has a 20.99% p.a. interest rate for purchases, you'll typically get more value from it if you pay the total balance each month so you're eligible for interest-free days on purchases.

Details

Product details

Product Name	CommBank Awards Credit Card
Purchase rate p.a.	20.99%
Interest-free period	Up to 55 days on purchases
Cash advance rate p.a.	21.99%
Min credit limit	$500
Card type	Mastercard

Eligibility

Available to temporary residents	Yes - Conditions apply
Joint application	No

Rewards

Rewards program	CommBank Awards Program
Bonus points	N/A
Rewards points per $ spent	1
Rewards points cap	Uncapped

Fees

Annual fee	$96
Minimum monthly repayment	2% of the closing balance or $25, whichever is greater
Late payment fee	$20
Foreign currency conversion fee	3.5%
Cash advance fee	3% or $4, whichever is greater
Overseas cash advance fee	$4 or 3% of transaction value, whichever is greater
Additional cardholder fee	$0
Number of additional cardholders	1

How to apply

You can apply for the Commonwealth Bank Awards Credit Card online. Before you get started, check if you meet the eligibility criteria and have the documents and details you need to complete the application.

Eligibility criteria

Residency. You must legally be allowed to work in Australia. If you are not a permanent resident or citizen, you also need to provide valid visa details.
Credit history. You must not currently be bankrupt and need to agree to a credit check. If you want to check your credit history before you reply, you can get a copy of your credit report and score for free through Finder.

Age. You must be at least 18 years of age to apply.

Required documents

Personal information. This includes your full name, residential address, email address, contact phone numbers and date of birth.
Details about your income. Aim to provide as much detail as possible about your income and assets. Details of income-generating assets such as property and shares also need to be provided, as well as information about any savings.
Expenses and liabilities. You will need to provide information about any debts you have, as well as ongoing expenses like child support, rent, mortgage repayments or anything else that is considered a regular, essential cost.

Card benefits

CommBank Awards points per $1 spent. The CommBank Awards Credit Card earns 1 Awards point per $1 on eligible purchases up to $2,000 per statement period, then 0.5 Awards points per $1 on eligible purchases for the rest of that statement period. Eligible purchases include most of your everyday spending, such as supermarket shopping, petrol, dining and travel bookings. You won't earn points for transactions including cash advances, BPAY and payments to the Australian Taxation Office (ATO). These points are uncapped and do not expire.
CommBank Awards point rewards. You can redeem points for gift cards, cashback in the form of statement credits, charity donations and retail items from the Awards eShop. You can also pay with points at Myer and Flight Centre or transfer your points to a partnered frequent flyer program, including Velocity Frequent Flyer. CommBank Awards points never expire, but any points you transfer will be subject to the terms and conditions of that rewards program (e.g. Velocity).

CommBank Yello Cashback Offers. This card gives you access to cashback offers through CommBank Yello. You just need to browse offers via the CommBank app, activate them and then pay with your card to redeem them.
Mobile payments. You can use your eligible smartphone or wearable devices to make contactless payments with Apple Pay, Samsung Pay and Google Pay. You can also use your fitness tracker to tap and pay if you link your card with Garmin Pay and Fitbit Pay.
Account control. You can instantly lock, block or limit how you use your card with the CommBank app or NetBank. For example, if you've lost your card and want to look for it, you could put a temporary block on the account. Or, you could lock international in-store and online payments, block cash advances and set a maximum spending limit for different types of transactions.

Rates & fees

Annual fee. This card charges a monthly fee of $8, which adds up to $96 per year.
Purchase interest rate. This card has a relatively high 20.99% p.a. variable purchase rate.

Interest-free days. This card offers up to 55 days interest-free on purchases when you pay your balance in full by the due date on each statement.
Cash advance interest rate. If you use your card to withdraw cash, gamble or transfer money from your credit card account to another account, you will be charged 21.99% p.a. interest (variable).
Foreign currency conversion fee. When you use your card to spend overseas or shop online with an international merchant, you will be charged 3.5% of the Australian total.
Additional cardholder. If you want to share your account with someone, there is a $0 additional card fee. Just keep in mind that you'll be responsible for managing the account (as the primary cardholder).
Minimum credit limit. You can request a credit limit starting from $500.

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CommBank Awards Card

Our verdict

Pros

Cons

Details

Product details

Eligibility

Rewards

Fees

How to apply

Eligibility criteria

Required documents

Card benefits

Rates & fees

Sources

Your reviews

CommBank Awards Card

Pros

Cons

How to apply

Eligibility criteria

Required documents

Card benefits

Rates & fees

Sources

Your reviews

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