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Commonwealth Bank Awards Card – Details and Application

Posted February 16th, 2008 and last modified March 19th, 2013

Commonwealth Bank Awards Credit Card Find out more about the Commonwealth Bank Awards Credit Card Apply now for Commonwealth Bank Awards Credit Card Find out more about the Commonwealth Bank Awards Credit Card
What happens when I click Apply Now?
  • Clicking Apply will take you to your Online Application on the bank's website. You do not need to be an existing customer of this bank to apply.
  • Your application will typically take you no more than 10-15 minutes to complete
  • Once approved, you will receive your credit card in the mail within 1-2 weeks
Click here to start your application >>

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.


Minimum Age18 years of age
Available to Temporary ResidentsYes - Conditions apply
Credit Rating RequirementGood
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 Repayment2%
Late Payment Fee$20
Over Limit Fee$10
Overseas Emergency Replacement$20
Overseas ATM Balance check$1.25
Overseas ATM Withdrawal$4
Gambling Transactions AllowedNo
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.

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16 Responses to Commonwealth Bank Awards Card – Details and Application

  1. Default Gravatar
    Danni | November 8, 2011

    I am enquiring regarding Qantas Frequent Flyer Points. At what rate are the points converted to Qantas Frequent Flyer Points.

    • Staff
      Jeremy | November 9, 2011

      Hi Danni

      Thanks so much for your comment.

      2 Commonwealth Bank Awards points = 1 Qantas Frequent Flyer point or Velocity Point:

      Cheers

      Jeremy

  2. Default Gravatar
    Andrew | July 1, 2012

    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.

    • Staff
      Jacob | July 26, 2012

      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.

  3. Default Gravatar
    sharon mcdowell | October 15, 2012

    what is the qualifying criteria for annual fee of $59

    • Staff
      Jacob | October 15, 2012

      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.

  4. Default Gravatar
    Lynda Dobson | January 14, 2013

    What are the maximum credit limits on this card?

    • Staff
      Jacob | January 15, 2013

      Hi Lynda. Thanks for your question. The credit limit is assigned based on the financial information provided at the time of application. Thanks.

  5. Default Gravatar
    Imbo | February 9, 2013

    Do we earn capped or uncapped qantas frequent flyer points for this card?

    • Staff
      Jacob | February 11, 2013

      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.

  6. Default Gravatar
    Cus | February 14, 2013

    Can I get rewards points if I pay my tuition fee using this standard rewards card?

    • Staff
      Jacob | February 15, 2013

      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.

  7. Default Gravatar
    Damian | March 12, 2013

    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

    • Staff
      Marc | March 13, 2013

      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.

  8. Default Gravatar
    Dominique | April 17, 2013

    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.

    • Staff
      Jacob | April 17, 2013

      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.



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