Are you looking for a credit card with a low rate or a card with rewards like frequent flyer points and travel insurance? Commonwealth Bank have a wide range of cards to suite everybody’s needs. Apply online today for the card that is right for you.
One Account, Two Cards. Be awarded with an American Express credit card when opening a new Awards, Platinum or Gold Card Account. Earn Points faster, with acceptance at over 29 million locations worldwide and the benefit of one credit limit and one annual fee.
Commonwealth Bank Credit Card Offer
Limited time only: Receive up to $200 cash back when you apply between 1 March 2014 and 30 April 2014 and spend at each retailer..
- $78 p.a. ($48 for qualifying customers) annual fee
- 12.99% p.a.* on purchases
- 5.99% p.a. for 5 months (reverts to the cash advance rate thereafter)
- Cash Advance Rate of 21.24% p.a.
- 55 days interest free
Commonwealth Bank Student Credit Cards
Commonwealth Bank Business Credit Cards
Commonwealth Bank Overview
Commonwealth Bank Credit card Types:
Low Rate credit cards
A competitive low interest rate of 12.99% p.a on purchases, Consider the CommBank Low Rate Gold card for extra features like complimentary insurances.
Low Fee & No Fee credit cards
Low fee or no fee. Get the convenience of a credit card with a low annual fee and other included extras. Additionally, if you’re a qualifying customer, you may qualify for a waived annual fee – this also includes students.
Awards credit cards
Earn Awards points when you use your CommBank Awards credit card for daily transactions. Over 1,000 items with the CommBank Awards Program to choose from to reward your everyday spending on this card.
Small Business credit cards
CommBank offer flexible choices for Small businesses credit card options, offering low rate with no annual fee, awards cards to interest free days cards. Furthermore, do not require business financials upon application, making the application process more streamline.
CBA is a much lauded bank having earned respect and awards through both innovations and excellence in customer service. In 1999 they were awarded the Bank of the Decade by Australian Banking and Finance Awards. The same organisation awarded the Best Bank awards in 1996, 2000, and 2002. Money Magazine, one of the most respected financial magazines awarded them the Product Innovator of the Year for CALIA. They were awarded the Best Online Banking Website by Australian NetGuide Magazine. In addition to standard banking awards they were also recognised for the Best Life Insurance Product by Australian banking and Finance Magazine.
Applying for a CBA credit card
Making an application for a credit card is a simple process these days, and applying for a CBA credit card is no different. This article will give you the low-down on what it takes to apply for a CBA credit card.
Commonwealth Bank operates credit cards on the MasterCard, Visa, and American Express systems to provide the best choice and coverage for the customer. You can apply online – the easiest and quickest way – in-branch, or on paper.
If you are applying for a CBA credit card online, the process should not take more than fifteen to twenty minutes, but you will need certain information for Commonwealth Bank to be able to process your application:
- Your name, address, date of birth, email address and contact telephone numbers
- You present employment status
- The current state of your finances, including your income, your expenses and any major assets you own
- If you are self employed, your accountant’s details
- If you intend to make a balance transfer from another card, you must provide details of the card you would like the transfer to be made from, including the account name, the account number, and the amount you wish to transfer
It is important that you collect this information together before applying for a CBA credit card, because if you have to go off and search for it mid-application you may find that your session has timed out when you return, due to the site’s security features.
Applying for a CBA credit card – the criteria
- You must be at least eighteen years of age
- You must be an Australian resident
- You must have a good credit history
- You must be in a financial position to make regular payments
What happens next when applying for a CBA credit card?
After applying for a CBA credit card, you will be kept informed as to the progress at each successive stage, hence the necessity for providing accurate contact details. If the bank requires any more information from you, you will be informed of this within five days.
If the decision is that you are eligible for a Commonwealth Bank credit card, you will need to undergo an identity check, which is the law of the land, although this is not necessary if you are already a customer of Commonwealth Bank. Commonwealth Bank will send you a letter requiring this proof of identification. This can be fulfilled by having certain documents copied, then verified by an independent person of a specified background. These can then be mailed back to the bank. Alternatively, you can take these documents into a branch of the Commonwealth Bank so a bank representative can check them.
After all the information has been fully verified, you will receive your Commonwealth Bank credit card within ten working days. You will then need to activate your new CBA credit card over the phone.
Commonwealth Bank Modern History and Background
Commonwealth Bank is an important name in Australian Banking. They have been innovators in both services and products since their inception in 1912 by the Australian Government. Now an internationally known bank with branches all over the world they are a trusted name for both personal and business banking needs.
In 1912 Commonwealth Bank was founded by an Act of Parliament called the Commonwealth Bank Act. This Act began one year earlier under the Bank Nationalization policy of the Labor Government of Andrew Fischer. Once it began operations it took only one year to have branches in all six states in Australia. In 1916 it moved the main operations to Sydney, where it remains today. The bank gradually gained control of the central bank and, in 1920, took over as the issuer of Australian Bank Notes from the Department of Treasury.
Commonwealth Bank was granted almost full central bank control through an act of emergency legislation during the second world war. After the war ended Commonwealth leveraged this control to strengthened Australia’s economy. These actions were not viewed positively by all and they were forced to divide the bank in 1959. The control and operation of the reserve bank was given to the Reserve Bank of Australia while the general bank operations remained with Commonwealth Bank.
Commbank continued to expand and took on travel and insurance as well as updating its operations to more modern and computerised systems throughout the 1970′s. They are even credited with offering the first credit card in Australia under the name Bankcard in 1974. The success of the credit card was impetus for them to move forward an open a full finance corporation wing called the Commonwealth Bank Finance Corporation.
Moving into the 1980′s and 1990′s CBA continued to grow and modernise its operations. Commonwealth added more credit cards to their repertoire including Keycards in 1981, MasterCards by 1984, and finally the Visa card in 1993. They introduced the first debit card option, known as EFTPOS (Electronic Funds Transfer at Point of Sale). They also provided for electronic banking to be done from homes or offices by launching their fully functional website in 1995.
Commonwealth Bank is a major player in Australian and international banking. They currently offer the largest network for administration of financial services. There are more then 1,000 branches and more then 3,800 agencies along with more then 3,000 ATMs here in Australia alone. For personal bank there are more then 3,700 post agencies and more then 514 for business clients. When travelling abroad customers can count on the service of more then a million ATMs and card acceptance at more then 25 million locations. In addition, the bank website handles transactions, questions, and concerns of their more then 2.5 million customers.
Commonwealth Bank is broken up into four distinct business categories. The Retail Banking Service offers affordable banking services for personal and small business customers. The Premium Business Services arm is aimed at addressing the needs of premium personal, business, and corporate clients. They operate various online broking services including the top one in Australia, CommSec. The Wealth Management division is focused on providing products and services that include insurance and investment management as well as third party services like Comminsure. Commonwealth Bank is represented in eleven countries through the International Financial Services division. The intention of these branches are to promote overseas growth and address overseas opportunities. Commonwealth offers retail banking services in China, New Zealand, Indonesia, and Fiji. they also have branches in New York City, London, Tokyo, Auckland, and Singapore.
Commbank customers can feel good about doing business with the company because they work hard to promote Australian communities through various organisations. The participate in the advancement of health, the arts, social welfare, and disaster aid. The Commonwealth Bank Foundation aids in financing education for Australia’s youth. CBA is a bank that you can count on to have your and all of Australia’s best interest in mind.