Commonwealth Bank Awards Card – Details and Application
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Earn more rewards for less with up to 1.5 points for every dollar
If you like to be rewarded for using your card, the Commonwealth Bank Awards credit card account gives you more — with two cards and up to 1.5 points for every dollar you spend, for a low annual fee.
You can also swap your points over to your preferred Frequent Flyer scheme. You’ll get 1 Qantas Frequent Flyer point for every 2 Awards points you earn. To receive Qantas Frequent Flyer points you’ll need to opt in, meaning any points you earn from this point will automatically be Qantas Frequent Flyer points. This also comes in with a $10 annual opt-in fee.
With a MasterCard® to use in over 34 million locations worldwide, plus an American Express® card, you’ll enjoy a special introductory rate of just 5.99% p.a. for 5 months on balance transfers and up to 55 days interest free on purchases.
About the Commonwealth Bank Awards Card
Here is what you need to know about the Commonwealth Bank Awards card:
| Product Name | Commonwealth Bank Awards Credit Card | |
|---|---|---|
| Balance Transfer Rate | 5.99% p.a. for 5 months | |
| Interest Rate on Purchases | 0% p.a. for 5 months (reverts to 20.24% p.a.) | |
| Offer end date | 30 June 2013 | |
| Annual Fee | $89 p.a. ($59 for qualifying customers) | |
| Interest Free Period | up to 55 days | |
| Interest Rate on Cash Advances | 21.24% p.a. | |
| Minimum 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 Repayment | 2% | |
| Credit Card Type | American Express/MasterCard | |
| Late Payment Fee | $20 | |
| Complimentary Travel Insurance | No | |
| Available to Temporary Residents | Yes | |
| Joint Application | No |
Extra benefits
- Preferential pricing for existing customers. Save $30 on your annual fee if you have a qualifying Commonwealth Bank account or loan when you apply.
- Emergency assistance overseas. Get help when you need it while travelling overseas.
- Contactless payments. Tap and go for purchases up to $100, with MasterCard PayPassTM.
- Extra security. Feel safe with a chip on every card and a 100% money-back guarantee on fraudulent transactions (provided that you have complied with the credit card conditions of use).
- American Express globaleshop. Shop the US and UK online with American Express globaleshop.
- MasterCard® Priceless. Enjoy exclusive access to a unique collection of experiences especially for MasterCard cardholders.
- Worldwide acceptance. Use your Commonwealth Bank American Express Card and MasterCard at over 34 million locations worldwide.
If you have enough Awards points you can choose to pay your annual fee in points. This can save you the $89 annual fee associated with this card.
How to Apply
If you are ready to apply for the Commonwealth Bank Awards card click on the ‘apply now’ button below to be taken to a secure page. You will then need to fill in your details and provide financial information to the bank. If you simply want to find out more about this card, use the button below.
Read the Commonwealth Bank Awards Credit Card terms and conditions.
| Minimum Age | 18 years of age | |
|---|---|---|
| Available to Temporary Residents | Yes - Conditions apply | |
| Credit Rating Requirement | 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 | $89 p.a. ($59 for qualifying customers) | |
|---|---|---|
| Minimum Repayment | 2% | |
| Late Payment Fee | $20 | |
| Over Limit Fee | $10 | |
| Overseas Emergency Replacement | $20 | |
| Overseas ATM Balance check | $1.25 | |
| Overseas ATM Withdrawal | $4 | |
| Gambling Transactions Allowed | No | |
| Additional Cardholder Fee | $15 |
Pros
- Earn 1.50 rewards points for AMEX from the CBA Rewards program for every $1 spent. This is higher than the average 1:1 ratio.
- A low annual fee of just $89 with the potential for it to be $59 for qualifying customers(provided you qualify under the CBA Terms and Conditions)
- Low balance transfer rate of 5.99%.
Cons
- There is a $15 fee for any additional cardholders.
Read the Commonwealth Bank Awards Credit Card terms and conditions.
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16 Responses to Commonwealth Bank Awards Card – Details and Application
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I am enquiring regarding Qantas Frequent Flyer Points. At what rate are the points converted to Qantas Frequent Flyer Points.
Hi Danni
Thanks so much for your comment.
2 Commonwealth Bank Awards points = 1 Qantas Frequent Flyer point or Velocity Point:
Cheers
Jeremy
I would like to know, using the Commonwealth Bank Awards Credit Card (specific to the American Express Card), would the points awarded from purchasing be usable on Thai Airways Royal Orchard Plus program.
I know cards issued by American Express can, but I’m not sure if Amex cards issued by Commonwealth Bank can.
Hi Andrew. The Commonwealth Bank American Express Card is not partnered with the Thai Airways Royal Orchard Plus program. Please refer to our frequent flyer page for further information. Thanks for your question.
what is the qualifying criteria for annual fee of $59
Hi Sharon. Thanks for your question. According to the Commonwealth Bank Preferential Pricing document, in order to be eligible for the reduced annual fee, you must be have a Commonwealth Bank home loan or one or more of the following accounts:
‘Personal Loans (secured & unsecured), All (including Colonial and HomePath) Home Loans and Investment Home Loans, Equity Unlock Loan for Seniors, Viridian Line of Credit (VLOC), Line of Credit (Colonial Branded), Term Deposits, Farm Management Deposit account (at call & fixed), Everyday account Complete Access, Everyday account Smart Access, Streamline account, Streamline e-Access, Streamline Unlimited, Youthsaver account, AwardSaver account, Pensioner Security account, NetBank Saver account, First Home Saver account, Passbook Savings account, Savings Investment account, Security Plus account, Cash Management Call account, Money Market Call account, Cash Investment account, Mortgage Interest Saver account, Personal Credit Card, Campus Loan and Personal Credit Line or a GoalSaver account.’ Hope this helps.
What are the maximum credit limits on this card?
Hi Lynda. Thanks for your question. The credit limit is assigned based on the financial information provided at the time of application. Thanks.
Do we earn capped or uncapped qantas frequent flyer points for this card?
Hi Imbo. The following is taken from the Commonwealth Bank Credit Cards website: 2 Awards points = 1 Qantas Frequent Flyer point or Velocity Point: You can earn a maximum of 50,000 Awards points per year (equal to 25,000 Qantas Frequent Flyer points) with your Awards MasterCard card and an Awards American Express Card.
Can I get rewards points if I pay my tuition fee using this standard rewards card?
Hi Cus. Thanks for your question. As long as the transaction is processed as a purchase and not a cash advance – you will earn points. Cheers.
I am a bit confused by Jeremy’s response to Dani, which states that 2 Commonwealth Bank Awards points = 1 Qantas Frequent Flyer point or Velocity Point. Does this mean that with the Commonwealth Bank Awards Mastercard, I only get 0.50 QFF points for every dollar I spend?
Cheers
Hello Damian,
thanks for the question.
This is correct, each dollar spent on the Commonwealth Bank Awards Card will equate to earning half a Qantas Frequent Flyer point. It should also be known that you need to opt in to receive Qantas Frequent Flyer points instead of Commonwealth Awards points. This comes with an additional $10 annual fee and will mean all the points you receive in future will automatically become Qantas Frequent Flyer points.
For more information about the transfer rates between rewards cards and frequent flyer programs this could be useful.
Cheers,
Marc.
A lot of institutions require an income limit on application of a credit card. I am unable to locate such information for the Commonwealth. Can you please advise? Thanks.
Hi Dominque. Thanks for your question. 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. Hope this helps, and let us know if you would like more information, or what we can do to make the reviews clearer for you. Jacob.