Commonwealth Bank Business Awards Credit Card – Rates and Fees

Information verified correct on September 27th, 2016

Enjoy the essentials of a business card with an unsecured limit of up to $50,000 plus complimentary insurances on transit accidents and unauthorised transactions.

Earn Awards points while you spend on your business purchases with the Commonwealth Bank Business Awards credit card. The points earned can then be easily redeemed for gift vouchers and merchandise in stores across Australia.

This card also offers you a wide range of features that make business purchases more convenient and easy, such as unauthorised transaction and transit accident insurances plus the ability to add an extra cardholder to the primary account.

Product NameCommonwealth Bank Business Awards credit card
Rewards ProgramCommonwealth Bank Awards Program
Purchase rate (p.a.)20.74% p.a.
Offer end date31 October 2016
Annual fee$0 p.a. annual fee for the first year ($100 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.)21.74% p.a.
Max credit limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$50,000
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 ResidentsNo
Joint ApplicationNo
Minimum Age18 years of age
Available to Temporary ResidentsNo
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
Max Credit Limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$50,000
Annual Fee$0 p.a. annual fee for the first year ($100 p.a. thereafter)
Minimum Repayment2% or $25 whichever is greater
Late Payment Fee$20
Over Limit Fee$10
Cash Advance Fee$2.50 or 1.5% of Cash Advance amount
Overseas Cash Advance Fee$4.00 or 1.5% of Cash Advance amount
Overseas Emergency Replacement$20
Overseas ATM Balance check$1.25
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$75 p.a.
Number of Additional Cardholders1
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes
Pros
  • Pay no annual fee in the first year if you apply online and get approved by 31 October 2016
  • Earn up to 1.5 Awards points for every dollar spent on your CommBank Business Awards American Express Card
  • This card comes with up to 55 interest-free days on purchases
Cons
  • There is a $75 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) Cap60,000
Rewards Points per $ (AMEX) Cap60,000
Points ExpiryNever

Commonwealth Bank Business Awards credit card review

Get rewarded with Commonwealth Bank Business Awards credit card. This is a personal liability business card that can make it easier to separate your business expenditure from personal purchases. This card offers interest-free days on purchases and comes with both an American Express and a MasterCard option for greater payment acceptance. Learn more about this card today to see if it is what you need for your business.

Benefits of the Commonwealth Bank Business Awards credit card

The card offers you many benefits that allow you to save and enjoy more convenience on purchases.

  • Up to 55 interest-free days. If you pay the balance in full by each statement due date you can make purchases without any interest charges on your card thanks to up to 55 interest-free days that allow you to leave your money in your bank account for longer.
  • Save on interest. You can save on monthly interest charges on your card by paying your monthly credit card balance in full during the interest-free period.
  • Awards points. This card rewards you for every dollar you spend on eligible business purchases and enables you to easily redeem your points for a wide range of rewards. Your CommBank Business Awards American Express credit card allows you to earn up to 1.5 Award Points points per dollar spent. You also earn up to 1 Award Point per dollar spent on a CommBank Business Awards MasterCard.
  • Points redemption. There are a wide range of perks that you can redeem your accumulated points for, including gift cards, flight awards and special merchandise.
  • Save time. Use your card to separate your business and personal expenses and save time on your Business Activity Statement (BAS).

Commonwealth Bank Business Awards credit card features

  • Credit limit. This card offers you an unsecured limit of up to $50,000 (subject to card approval). The credit limit you’re offered will be based on Commonwealth Bank’s lending criteria.
  • Transaction insurance. Unauthorised transaction insurance covers you for any fraudulent transactions made on your card.
  • Complimentary transit insurance. This covers you for loss or damage of shipments from the time they leave your business premises to when they get delivered to customers.
  • Personal liability. The primary cardholder takes personal responsibility for every transaction on the card account.
  • Additional cardholder. As the primary cardholder, you have an option to add one extra cardholder to the account. Both cards are then linked to the same account with the same credit limit, interest rate and balance, making it easier to manage them.
  • Business account. You have the option to add your business name on your card beneath the cardholder’s name.

How to apply for the Commonwealth Bank Business Awards credit card

You can apply for the Commonwealth Bank Business Awards credit card online by completing an online application form. The application process takes only a few minutes and you could receive your card in as little as 10 business days (pending approval).

Eligibility criteria

Make sure you meet the following criteria before you start your application:

  • All applicants must be at least 18 years of age.
  • You must be an Australian/ NZ citizen or a permanent resident.
  • You must not be a full time student.
  • You must not be an undischarged bankrupt.
  • You must be a business owner, director or partner with a valid Australian Business Number (ABN).

Required documents

Please provide the following information with your application:

  • Your personal details including your full name, date of birth and gender.
  • Your address, suburb, postcode and time at your address.
  • Your employment details including your employment type, status and your job type and category.

The Commonwealth Bank Business Awards credit card rewards you for your business spending. Compare this card with other business credit cards on finder.com.au and apply for the one that suits your business today.

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2 Responses to Commonwealth Bank Business Awards Credit Card – Rates and Fees

  1. Default Gravatar
    gary | April 24, 2014

    I need a card for business unlimited Qantas point not amex please

    • Staff
      Shirley | April 30, 2014

      Hi Gary,

      Thanks for your question.

      Please see our page on business credit cards, when you click through to a review, if you scroll down and click ‘rewards program’ you can then see if the points expire or not.

      Cheers,
      Shirley

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