From low fee and low rate through to platinum, diamond and rewards options, the Commonwealth Bank has a wide range of credit cards to suit your needs.
Commonwealth Bank credit cards cater to a variety of customer needs, with both budget and premium options available. It’s also one of the only lenders to offer a student credit card. Find out more and compare Commonwealth Bank credit cards here.
Comparison of Commonwealth Bank Credit Cards
Types of credit cards from the Commonwealth Bank
The range of Commonwealth Bank credit cards includes:
Balance transfer credit cards
You can apply for a balance transfer from another financial institution or store card at the same time as applying for a new Commonwealth Bank credit card. You’ll be required to provide details regarding the transfer, so make sure to have these on hand before beginning the application. Once your application is approved, it can take up to 10 business days for the card to be delivered. Learn more about the steps to how to balance transfer with Commonwealth Bank.
Low fee credit cards
A low or no annual fee is the main hallmark of a low fee credit card. The Commonwealth Bank’s range of low fee credit cards give you the chance to pay no annual fee when you meet minimum spending requirements for the account.
Low rate credit cards
The Commonwealth Bank Low Rate credit cards offer a low, ongoing variable interest rate for purchases. There’s a standard low rate card and a gold low rate credit card. The gold low rate credit card comes with a few extra perks, such as complimentary insurance.
Award credit cards
These cards are linked to the Commonwealth Bank Awards Program and offer points for every $1 you spend on eligible purchases made with the card. CommBank Award cards come with both an American Express and a MasterCard option. The American Express card offers a higher rate of points per $1 spent than the MasterCard card, so you can earn more points where American Express is accepted.
Student credit cards
The Commonwealth Bank Student credit card is a low fee product designed specifically for students. It offers up to 55 days interest free and a low standard annual fee of $29 that is waived when you have spent a minimum of $1,000 in the previous year.
The benefits of banking with the Commonwealth Bank
Commonwealth Bank credit cards come with the following benefits:
Commonwealth Bank complimentary travel insurance policy
Commonwealth Bank’s complimentary insurance policies are provided by Allianz Global Assistance and are available to Commonwealth Bank Gold, Platinum and Diamond cardholders. Our complete guide for Commonwealth Bank complimentary insurance will tell you what you need to know about this complimentary travel insurance policy including eligibility requirements, how to ensure you’re covered, the claims process and the different types of insurances available.
Commonwealth Bank Awards Program
The Awards program allows you to earn points when you use your CommBank Awards credit card for eligible transactions. You can redeem these points for over 1,000 items available through the Commbank Awards Program. Read our review on the Commbank Awards Program here.
You can request a balance transfer from another financial institution or store card when you apply for a new Commonwealth Bank credit card. If you already have a Commonwealth Bank credit card, you can also apply for a balance transfer via NetBank, post or by calling 13 22 21. Learn more about the steps to transferring your balance over to Commonwealth Bank.
Reduced annual fee
As well as the low fee credit card options, CommBank offers a one year annual fee waiver if you apply for an eligible Commonwealth Bank credit card at the same time as your home loan application. This offer excludes business liability credit cards, corporate cards and personal liability business credit cards without Awards.
Online banking – NetBank
NetBank is an online banking tool for Commonwealth Bank customers. NetBank makes managing your Commonwealth Bank credit card account easy. You can also apply for other Commonwealth Bank products and services through NetBank, view recent purchases on your credit card account and make payments to accounts in Australia and overseas.
Commonwealth Bank MasterCard credit card holders get access to a number of MasterCard benefits, including:
- MasterCard PayPass. For transactions under $100, just touch your Commonwealth Bank MasterCard against a contactless terminal and your transaction will be completed in a matter of seconds.
- MasterCard fraud guarantee. If you’re account is compromised while you’re using the MasterCard payment networks (shopping over the counter or online), the MasterCard Zero Liability Guarantee can cover the cost of fraudulent charges.
- Global acceptance. MasterCard credit cards are accepted in millions of locations all over the world. Use your card to shop online, make purchases over the counter and withdraw cash from ATMs everywhere MasterCard is accepted.
How to apply for Commonwealth Bank credit cards
If you want to apply for a Commonwealth Bank credit card, there are standard credit card application requirements need to be met. This includes:
- Age. You must be at least 18 years of age to apply for a credit card.
- Residency status. You must provide details of your Australian citizenship, residency or visa status. These requirements vary between cards, and additional conditions may apply for temporary residents, so make sure you check the specified conditions for any product you wish to apply for.
- Credit history. You must not be an undischarged bankrupt.
Other conditions may apply depending on the card. You can find this information listed on our Commonwealth Bank credit card review and application pages. If you do meet the minimum eligibility requirements, Commonwealth Bank will also need to form a picture about your financial situation before they can make a decision about your credit card application. You will need to provide the following information about yourself to support your application.
- Personal information. You will need to provide information including your full name, current 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, like property and shares, also need to be provided, as does 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 (like your weekly food budget).
- Other credit cards. If you want to transfer a balance to a Commonwealth Bank credit card from your existing non-Commonwealth Bank credit card(s), store card(s) or charge card(s), you will need to provide the account details, including the card number, the amount you want to transfer and the name of the issuing financial institution.
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. If the bank requires any more information, you will be contacted within five days.
If you application is approved, you will need to undergo an identity check if you are a new Commonwealth Bank customer. Commonwealth Bank will contact you with details of what you need to provide as proof of identification (i.e. your Australian State or Territory driver’s licence, birth certificate or passport). After all this information has been fully verified and the application process is complete, you will receive your Commonwealth Bank credit card within 10 working days. You can then activate your new CBA credit card via NetBank, in a branch or by calling 13 22 21.
Frequently asked questions
We’ve provided answers to some of the most common questions we get about Commonwealth Bank credit cards below. If you can’t find an answer to your question on this page, get in touch with us by leaving a question using the form at the bottom of the page.
How much can I balance transfer to a Commonwealth Bank credit card?
The amount you can balance transfer varies depending on your personal financial circumstances, the credit card and your approved credit limit. If the available credit on your Commonwealth Bank account cannot accommodate the full dollar amount you wish to transfer, CommBank will transfer a portion within your available limit.
Do my Commonwealth Bank Awards points expire?
Commonwealth Bank Awards do not expire, providing you remain a member of the program.
How do I earn Commonwealth Bank Awards points?
If you have a Commonwealth Bank Awards credit card, you earn Commonwealth Bank Awards points when you make an eligible purchase. Eligible purchases include everyday transactions such as buying your groceries or filling your car up with petrol. Points are not awarded for cash transactions. These types of transaction include cash advances, paying government fees and charges, credit card fees and charges and business expenses. Check the Commonwealth Bank Awards terms and conditions for a full list of transactions that are ineligible to earn Commonwealth Bank Awards Points.
What can I redeem my Commonwealth Bank Awards Points for?
If you have a Commonwealth Bank Awards credit card, you can redeem your Commonwealth Bank Awards points for a range of flight and non-flight rewards. There’s a wide range of rewards you can choose from. You can view the redemption options online through the Commonwealth Bank Awards website or by downloading the Commonwealth Bank Awards brochure, also available through the website.
Does the annual fee collect interest?
The annual fee is charged to your card and added to your account balance. If you don’t repay your balance in full by the end of the statement period, interest will be applied to the annual fee (as well as any other purchases that have contributed to your balance) will collect interest.
What happens after I apply for a Commonwealth Bank Credit Card?
After applying for a Commonwealth Bank credit card, you should have a response within minutes from the bank letting you know the status of your credit card application. Your application can be approved, declined or conditionally approved. If the bank needs any more information from you to support your application, you will be notified about the next steps on the email you provided during the application. Usually, by providing information like your drivers licence number or passport number during the application, Commonwealth Bank is able to verify your identity online; however, if you were not able to provide this information, you may be required to submit a written identity verification form to the bank, including legally verified copies of eligible identification documents. After all the information has been fully verified, you will receive your Commonwealth Bank credit card within 10 working days. You will then need to activate your new CBA credit card over the phone before it can be used.
How do I transfer a balance to a Commonwealth Bank credit card?
If you want to take advantage of a Commonwealth Bank balance transfer offer, you can elect to transfer a balance when you apply for the credit card online. There’s a section within the application that asks you if you want to carry out a balance transfer. If you select “yes”, you will then be prompted to enter details including the name of the financial institution you want to transfer a balance from, the card number of the accounts and the amount you want to transfer from each eligible account.
What’s the minimum repayment on my Commonwealth Bank credit card?
If you owe less than $25, your minimum payment is the amount you owe. Otherwise, your minimum payment for a personal or Awards Business CommBank credit card is the greater of:
- Any amount you owe that exceeds your credit limit
- 2% of the closing balance, rounded down to the nearest dollar; or
If you have a business credit card other than an Awards option, the minimum limit is either $75 or 2.5% of the balance (whichever is greater).
How do I close my Commonwealth Bank credit card account?
If you would like to cancel your Commonwealth Bank credit card and close your account, you need to make sure that you have paid back the balance in full. If you’re not carrying a balance on your Commonwealth Bank credit card, you can cancel your card at anytime by calling the Commonwealth Bank on 13 22 21 or by visiting a Commonwealth Bank branch.
When does my balance transfer promotion begin?
Once you submit a request for a balance transfer, it will be processed within 5-10 working days. Your balance transfer offer will begin after this time.