Commonwealth Bank Gold Awards Card – Details and Application
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Two cards and more rewards with the Commonwealth Bank Gold Awards credit card
Open up a world of exclusive opportunities with the Commonwealth Bank Gold Awards Credit Card. With an American Express® and MasterCard® on your account, you’ll enjoy the best both cards have to offer, with up to two Awards points for every dollar you spend.
Designed especially for people who like to travel, you’ll enjoy benefits like our complimentary booking service, travel insurance and emergency assistance when travelling overseas.
About the Commonwealth Bank Gold Awards Credit Card
Here’s what you need to know about the Commonwealth Bank Gold Awards Credit Card:
| Product Name | Commonwealth Bank Gold 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 | $144 p.a. ($114 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.
|
$4,000 | |
| Minimum Monthly Repayment | 2% | |
| Credit Card Type | American Express/MasterCard | |
| Late Payment Fee | $20 | |
| Complimentary Travel Insurance | Yes | |
| Available to Temporary Residents | Yes | |
| Joint Application | No |
Rewards Program
- Earn up to 2 Awards Points per $1 spent on American Express purchases
- Earn up to 1 Awards Points per $1 spent on MasterCard purchases
- Earn up to 125,000 Awards Points per year
Extra benefits
- Preferential pricing for existing customers. Save $30 on your annual fee if you have a Commonwealth Bank account or loan when you apply.
- Pay your annual fee with rewards. If you have enough rewards points on your Commonwealth Bank credit card, you can pay the annual fee of $144 with your reward points.
Travel benefits
- Complimentary international travel insurance. You can qualify for complimentary travel insurance for international trips up to three months for you, your spouse and your dependent children, if you meet the eligibility criteria~.
- Emergency assistance overseas. Get help when you need it while travelling overseas.
- Your Global Connection. Book your travel with our free premium integrated travel services.
- Travel Money Card. Pay no issue fee when buying a Commonwealth Bank Travel Money Card.
Shopping benefits
- Extended warranty insurance. Benefit from peace of mind when you shop, with insurance against faulty purchases when you buy with your card.
- Purchase Security Insurance. Shop securely with free repair or replacement of new items if they’re lost, stolen or damaged within 90 days.
- Contactless payments.Tap and go for purchases up to $100, with MasterCardPayPassTM.
- 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 US and UK stores that don’t usually ship to Australia 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 MasterCard at over 34 million locations worldwide.
How to Apply
If you are ready to apply for the Commonwealth Bank Gold Awards credit 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 Gold 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. | $4,000 |
| Annual Fee | $144 p.a. ($114 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
- The gold card has a range of benefits that are designed to make a travellers life a little easier. Things like commission free travellers cheques, complimentary international travel insurance and Global Connection are offered with this card.
- Qualifying customers are up for a reduction on their annual fee.
Cons
- If you're looking to opt into the Qantas Frequent Flyer Direct Program was choose to do so and will incur and additional fee.
- Additional card holders come in at $15 each. This is a feature that is offered for free with most cards.
Read the Commonwealth Bank Gold Awards Credit Card terms and conditions.
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With Commonwealth Awards, what international airlines can I transfer my point over to travel overseas?
Hi Alan. Thanks for our question. Awards points can be redeemed at any time for Velocity, Air New Zealand Airpoints provided you’re a member of the relevant program. According to the Commonwealth Bank Gold Awards Card fine print, ‘Customers wanting to transfer their points to Qantas Frequent Flyer must opt-in to Qantas Frequent Flyer Direct. Once you have opted in then all points earned will be automatically transferred across to your Qantas Frequent Flyer account each month. There is a $10 annual fee to opt in to Qantas Frequent Flyer Direct.’
Points are converted to the following airlines at the following rates: ‘Redeem 2 Awards points for 1 Qantas Frequent Flyer point or 1 Velocity Point. Redeem 160 Awards points for one Airpoint Dollar’. Hope this helps.
Are there age limits on the international travel insurance?
Hi Pam. Apologies about the time it’s taken to get an answer to your question. There is no age limit for the Commonwealth Bank International Travel Insurance cover; however, if you do have any pre-existing medical conditions, you will need to register these conditions with the insurer to make sure that you’re properly covered when overseas. Jacob.
I run a small business – is it possible to use the AMEX as part of a business account?
We are currently using cards which expire in September 2012 with another bank!
If we were to apply to yourselves for the Gold Cards are we able to submit the relevant financial details from our existing bank to assist with the application? We are Self Funded Retirees.Would you need financial details from our accountant or would the details from existing bank be ok?
How long would an application take to be authorised after application and do you contact our existing card supplier to close off there details or would we have to do this ourselves?
Sorry for all the questions ( Pensioner Syndrome!)
Look forward to hearing from you.
Cliff & Gay
Dear Cliff and Gay.
So sorry it’s taken an age to get back to you. I hope this answer still has relevance.
So, when you apply for a new credit card, you current situation will be considered. If you were applying for a credit card with the same bank, which you currently held a card with, that would have some bearing, but the main consideration is your current financial situation. If you are a self funded retiree, you will need to prove your income – you account can help with this and should liaise with the lender directly – as online applications can be restrictive for retired applicants.
The application process can take up to two weeks between applying and receiving your card. It’s your responsibility to close the old account (if you wish).
Jacob.
Is the excess on Hire Car insurance covered and if so how much of the excess if a claim should arise?
Hi Harold. Thanks for your question and apologies for the delay. Excess cover for rental vehicle insurance: Limit of $2,250. I’ve sent the policy document to your email if you would like further information. Jacob.
Hi Just wondering, are the awards points automatically allocated to the Qantas frequent flyers program
Thanks
Callan
Hi Callan,
Thanks for your question. The Commonwealth Bank Gold Card terms and conditions state: “Customers wanting to transfer their points to Qantas Frequent Flyer must opt-in to Qantas Frequent Flyer Direct. Once you have opted in then all points earned will be automatically transferred across to your Qantas Frequent Flyer account each month. There is a $10 annual fee to opt in to Qantas Frequent Flyer Direct.” Hope this has answered your question.
Cheers
Jeremy
what is the income criteria to qualify for this credit card. i have a unique situation, also, would i qualify for the lower annual fee because i am an existing cardholder/commonwealth customer.Also, does paying a bill with bpay earn points, thanks
Hi Andrea,
Thanks for the question.Your card limit will be set up based on your income, expenses and credit rating so there is no set income requirement to apply for Gold award card. If you apply, the application will be assessed based on your borrowing capacity (how much you can service your monthly payment).
The Commonwealth Bank preferential pricing scheme is a $30 discount of the card’s annual fee if you’re a new Commonwealth Gold Award Cards customer and you hold another qualifying Commonwealth Bank account or loan when you apply. Bills paid from a Commonwealth Bank credit card are treated as purchases (not cash advances) and you earn points on these purchases.
Cheers,
Jeremy
Hi there,
I’m looking at a Platinum Master Card option but I’m not sure if I will accrue Qantas points if I use it to pay for my work (business) travel (domestic and international air fares, rental cars, accommodation charges, meals, etc).
Hi,
Thanks for the question. This passage is taken from page 7 of the Bank Gold Card Awards terms and conditions: “The following transactions are excluded from earning points: balance transfers, cash advances (including a transaction by the bank treated as a cash advance, such as paying utility bills in person at a bank), government charges, purchases of foreign exchange, credit card insurance premiums, travellers cheques, interest charges, Qantas Frequent Flyer Direct Fees, bank fees, Card account payments, and any other transactions which may from time to time be excluded by the bank. Awards, Gold Awards, Platinum Awards, and Diamond Awards are also excluded from earning points from transactions deemed by the bank to be for business purposes.”
Cheers,
Jeremy
Hello,
I am interesting in this credit card, however I am on a student visa at the moment. I have an Australian partner who I am applying for a de-facto visa with, but must wait for my student visa to expire before the bridging visa is issued. If he applies for the credit card, can he add me as a second credit card holder? If he can do both of receive the travel insurance? Last question, I am already a qantas frequent flyer miles member, can I link those point to this new card.
Thanks,
Beata
Hi,
Thanks for the question. For cards that allow temporary residents please check this page – http://www.creditcardfinder.com.au/credit-cards-for-temporary-residents – If you’re successful in your application, you should be able to list an additional card holder on the account and you will be eligible for all the benefits that come with that particular card. Cheers.
Jeremy
HI can you please let me know whether the rewards points are convertible to frequent flyer points and what is the conversion rate?
Hi Sylvia, thanks for your question.
2 Commonwealth Bank Gold Awards Points are equal to 1 Qantas Frequent Flyer Point (QFF). Commonwealth Gold Awards Points can be transferred to your Qantas Frequent Flyer account, but there are associated fees. There is an opt-in fee for participation in the QFF program and there is a cap of 125,000 Gold Awards points cardholders can earn in a year. Hope this helps.
What is 1 awards point eqivalent to in frequent flyer points?
How do you assess whether the card will cost $114pa or $144pa?
Thanks
Hello Samantha,
thanks for your question!
1 Awards Point is equivalent to 0.5 Qantas Frequent Flyer points. Alternatively Awards Points can also be exchanged for Virgin Velocity points at the same rate, or for Air New Zealand Air Points dollars at the rate of 160 Awards Points for 1 Air Point Dollar.
This card will have an annual fee of $114 if you’re a qualifying customer, meaning you hold an eligible loan or account with the Commonwealth Bank already. These products include:
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, e-Access or Unlimited accounts.
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
GoalSaver account
I hope this helps,
Marc.
are the reward points frequent flyer points?
Hi Andrew. Thanks for your question. You can earn Commonwealth Bank Awards on your Gold American Express Card, which can be transferred to your Qantas Frequent Flyer or Velocity membership: 2 Awards points = 1 Qantas Frequent Flyer point or Velocity Point. Hope this helps.
Probably a stupid question- but if I use this card at the mechanics- is this counted as a ‘purchase’?
HI Caroline. Thanks for your question. When you use your card at an ATM to withdraw cash, it’s counted as a cash advance. You will be charged a cash advance fee plus the cash advance rate of interest. When you use your card to make a purchase over the counter and pay some bills with BPAY it is counted as a purchase. Cheers.
If I have a comsec account does that comply with the requirements for a Qualifying account for obtaining a credit card reduced fees.?
Hi Warren. No, it will need to be a everyday smart or complete access or a loan. Thanks for your question.
hi, i would like to apply for this credit card, but it says its not available to temporary residents. I’m on a visa 457, am I eligible for it?
hi Yuchyn. If you’re on a 457 Visa, there may be instances where you are eligible for a credit card. Some lenders have a higher minimum credit requirement for temporary residents than they do for permanent residents and anecdotal evidence has shown that they’ve been successful in their application. Please check with the lender directly for further information. Thanks.
Is there any other way to redeem award points other than via the Qantas Frequent Flyer or Velocity Awards programs? A transfer rate of 2 credit card points ($2) for 1 fly point doesn’t seem so good ??? Is there a related flyer program that is 1:1 ?
HI Sarah. Thanks for your question. The other option for redeeming your points for flights is through Flight Centre. Flight Centre converts your Commonwealth Points into a dollar value – 186 Commonwealth Bank Awards Points are equal to one Flight Centre dollar. So you would have to spend roughly $90 on your American Express Card to get one Flight Centre dollar and $186 on your MasterCard. Cheers.
If you opt in for the direct transfer to Qantas ff points, do you get 2 ff points for every dollar spent?
Hi Carol. The Qantas Website says, earn ’0.75 points per $1 of eligible spend on Commonwealth Bank Awards American Express® Card, 0.5 points per $1 spent of eligible spend* on Commonwealth Bank Awards MasterCard and up to 25,000 points per year’. Thanks.
Can you opt in for Qantas FF at any time or do you need to opt in prior to making purchases? So say you have earned 50,000 points and then you opt in for Qantas FF are these 50,000 points carried over and acknowledged?
Hi Erin. Thanks for your question. There is a $10 opt in fee. Any prior earning on the Qantas Frequent Flyer membership will remain when you link the membership to your Commonwealth Bank Gold Awards Card. Cheers.
Hi,
Does 1 ‘award point’ equate to 1 frequent flyer point when using the Gold card?
Thanks
Hi Clem. Thanks for your question. Please see this page for information about rewards programs to frequent flyer transfer rates. Jacob.
What are the charges for using this card overseas eg europe
Hi Elizabeth. Thanks for your question. The type of fees and charges you’re up for really depend on how you use the card while overseas. Regardless or whether you make a purchase over the counter, buy goods over the internet in a foreign country or withdraw cash from an ATM while overseas, you will be charged a cross currency conversion fee. If you use the card to withdraw cash from an ATM: you will be charged an international ATM fee, local ATM operator fee and cash advance fee (the cash advance interest rate will also apply). If you use this card to make a purchase over the counter, you’ll be up for the purchase rate of interest (as well as the aforementioned foreign currency conversion fee). Please compare travel money options here. Jacob.
Can I transfer rewards from this card to Malaysia Airlines Enrich. I know I can do that from Westpac Altitude but they cap the number of points earned per month. Can you suggest any other credit card that transfers points to Malaysia Airlines Enrich espl. Anz, CBA etc. Many Thanks.
Hi Manu. Thanks for your question. Check this page for everything you need to know about transferring points between reward programs and airlines.
are you able to earn f/f on any of your cards when transfering a balance from another card, and if so which one?
thanks
Hi Kristie. Thanks for your question. Points can not be earned on a balance transfer as it’s considered a cash transaction. Jacob.