Commonwealth Bank Platinum Awards Credit Card – Details and Application
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The ultimate in Awards cards from Commonwealth Bank, with exclusive Platinum membership
The Commonwealth Bank Platinum Awards Credit Card offers two cards on the one account (American Express and MasterCard), with up to three Awards points for every dollar you spend.
You’ll enjoy exclusive deals for Platinum members, complimentary concierge services, complimentary overseas travel insurance and booking services, as well as a low 5.99% p.a. for 5 months on balance transfers from another card.
About the Commonwealth Bank Platinum Awards Credit Card
Here’s what you need to know about the Commonwealth Bank Platinum Awards Credit Card:
| Product Name | Commonwealth Bank Platinum 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 | $280 p.a. ($250 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.
|
$8,000 | |
| 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 3 Awards points for every $1 spent on American Express
- Earn up to 1 Awards points for every $1 spent on MasterCard
- Points capping applies – Earn up to 250,000 points per year.
- Use two credit cards to maximise your points earning potential
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.
- Personal concierge service. Need something organised? Our free concierge service is available 24 hours a day, seven days a week to help.
- Premium privileges. Access exceptional exclusive offers for Platinum members, including discounts on car rentals, upgrades at premium hotel and resort stays, and more.
- Pay your annual fee with awards. You can elect to pay the annual fee of $280 with your awards points.
Travel benefits
- Complimentary international travel insurance. You can qualify to receive complimentary travel insurance for international trips up to six 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.
- Complimentary interstate flight inconvenience insurance. Get extra cover for disrupted flights for travel in Australia when you purchase your flights with your Platinum credit card.
- Travel Money Card. Pay no issue fee when buying a Commonwealth Bank Travel Money Card.
Shopping benefits
- Extended warranty insurance. Receive up to a year’s extension on the manufacturer’s warranty on most goods bought in Australia or overseas.
- Purchase Security Insurance. Repair or replace your bought items for free, if they’re lost, stolen or damaged within 90 days.
- Guaranteed pricing scheme. Claim the difference if you see an item you bought advertised for less within 21 days of your purchase.
- Contactless payments. Tap and go for purchases under $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 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 Platinum 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 Platinum 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. | $8,000 |
| Annual Fee | $280 p.a. ($250 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
- A rate of accrual of 3.00 Awards Points for every dollar spent with the American Express card.
Cons
- Additional card holders will incur a fee of $15 each in addition to the primary card's annual fee.
- This card is similar to the gold card but has an annual fee of almost double the price.
- Points are capped at 250000 for the year and when you have opted-in to the Qantas Frequent Flyer program the rate of accrual when using the American Express card halves.
Read the Commonwealth Bank Platinum Awards Credit Card terms and conditions.
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Do you get 3 qantas frequent flyer points for every $1 spent on Amex or is there a reduction in the conversion? Any cost involved with a direct conversion of points to qantas frequent flyer?
Hi Jeff. Please see this page for the rate of conversion between Commonwealth Bank Awards and Qantas Frequent Flyer Points. Jacob.
Does the platinum card cover car hire excess reduction for a domestic car hire?
Hi Aleisha. Thanks for your question. This insurance policy does not include car rental excess cover. This is a benefit that’s included with some ANZ and some Westpac credit cards. Jacob.
Does the card cover excesses etc on overseas(NZ)car hire
Hi John. Thanks for your question. This is not an included benefit with this card. This is included with some premium ANZ credit cards. Jacob.
Can a supplementary card be issued for this card (Platinum Awards Credit Card) and, if so, what is the annual fee?
Hi Grahan. Thanks for your question. Yes, this card allows additional cards to be issued. Check the Fees and Repayments table at the bottom of the page for information about this. Jacob.
We are 73 an 72 years old and have purchased our 30 day European trip air trip using our MC Platinum card. Are we covered for health insurance or how do we register?
Hi Peter & Ann. Thanks for your question. There is no age limit for the complimentary international insurance policy, as long as you meet the eligibility requirements set out in the policy document – to summarize – you, your spouse and your dependent children are covered for the the return journey if you purchase your return tickets before leaving Australia, and you spend at least $1,000 EACH on prepaid travel expenses (flights & accommodation etc.). Please be aware if you have any pre-existing medical conditions, you will need to fill out additional paperwork – I will send further details to your email. Once you do this the insurance is automatic. Jacob.
Where can I access the policy details of the complimentary travel insurance?
Hi Peter. I’ve sent information to your email. Jacob.
With regards to the Commonwealth Bank Platinum Awards Credit CardRewards Program, it says “Earn up to 3 Awards points for every $1 spent on American Express”. That is vague when it says “up to”. Can you clarify if it is “always” 3 award points for every $1 on the AMEX card. Regards Ryan
Hi Ryan. Thanks for your question. When you make an eligible purchase with your American Express card, you will receive three points for every dollar spent.
with the Platinum Card do you receive 3 Qantas Frequent Flyer points for each $ spent?
Hi Marilyn. When you use your American Express card to make a purchase, you will receive up to three points for every dollar spent. Cheers.
Hi, under ‘Cons’ it says “Points are capped at 250000 for the year and when you have opted-in to the Qantas Frequent Flyer program the rate of accrual when using the American Express card halves.”
Does that mean American Express really DOES NOT deliver 3 points / $1 if I wanted to send it all to my existing QFF rewards?
Hi Eclipse. Thanks for your question. The fine print says, ‘Redeem 2 Awards points for 1 Qantas Frequent Flyer point’ when you opt-in to earn Qantas Frequent Flyer Points. Jacob.
Can I elect to direct my award points between either virgin or qantas or do I have to select one airline
Hi Geoff. You can opt in to one or the other program. The following is taken from the Commonwealth Bank Platinum Awards Credit Card Page, ‘Awards points can be redeemed for Velocity Rewards (the frequent flyer program of the Virgin Australia group of airlines) or Air New Zealand Airpoints™ Dollars provided you’re a member of the relevant program. Conditions apply.
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. Conditions apply.
Redeem 2 Awards points for 1 Qantas Frequent Flyer point or 1 Velocity Point. Redeem 160 Awards points for one Airpoint Dollar.’ Thanks for your question.
I have a strange first name and I am asking if I can use my middle name as the card name. I can provide all the necessary documents to show who i am, but as I use my middle name for all aspects of my life I want this card to also be in my middle name, is this possible?
HI James. Probably not – your card name will have to reflect your passport and driver’s licence etc. Your best bet is to ask a member of staff from the Commonwealth Bank directly. Thanks.
Jeremy,
In your answers to Glenn and Rhonda’s questions, you have repeated the fact that you earn 3 points to every $1 spent on the amex up to120000 points and after that, for the remaining 80000 points, it’s 1 point to every $1 spent which is capped at 200000 points for the year.
I believe the answer is in fact in Rhonda’s question regarding her statement, however what you do not qualify clearly enough in both your answers and what i presume Glenn and Rhonda are both asking is does 1 reward point on either of the cards equate to 1 QFF point or does 1 reward point equate 0.5 QFF point? Which is exactly the same formula to the Westpac Platinum Plus Altitude Points programme.
After you confirm the above, could you please also advise whether nor not there are cards that translate 1 QFF point for every $1 spent?
Regards
P
Hi Paul. According to the Qantas Frequent Flyer website, a Commonwealth Bank Platinum Awards Card that is linked to Qantas Frequent Flyer Direct will earn CBA Awards points that are converted to QFF Points at the following rate: 2 Awards points = 1 Qantas Frequent Flyer point or Velocity Point (ie. 1 Awards Point = 0.5 QFF Point / Velocity Point).
Thanks for your question.
Hi Jacob. The Woolworths Qantas Frequent Flyer card has an $89 annual fee and translates $1 = 1 point!
Regards.
Hi
What do you get with the points you earn with this credit card? Can it only be used for flights or can the points be used to purchase other items or get discounts?
Thanks
Hi Grant. When you use your card to make an eligible purchase you will earn Commonwealth Bank Award Points. To see what you can spend your points on, please log on to the netbank website. There are a range of items you can redeem your points for including gift cards, cash back on your credit card and Apple products. Thanks for your question.
this is probably the stupidest question ever but just wanted to clarify that if a make a single monthly payment that pays off the balance of the card then there will be no interest to be paid
also as there is an amex and a master card do I have to make separate payments or can they be paid together?
Hi Adam. There are no stupid questions. If you pay the balance in full each month, you won’t get charged interest. The American Express and MasterCard Credit Cards are linked to the one account, so one payment will deal with both cards. Thanks for your question.
I have been a platinum card holder for a few years now, i pay my card as soon as i get it, am i bit disappointed in the annual fee of $250.00, i think it should be waived for good payers, after comparing many cards on the web, now looking at getting another card with a cheaper annual fee
Hi Margaret,
Thanks for your comment. Some cards do reward your spending on the card by waiving the annual fee is you spend over a certain amount each year. For a list of cards that have ‘low’ or ‘no’ annual fees. Please visit our page: http://www.creditcardfinder.com.au/no-annual-fee-credit-cards – Cheers.
Jeremy
Is there an age limit on the complimentary international travel insurance with the Gold Awards Mastercard?
Hi Judy,
Thanks for your question. The age limit for this insurance policy is 80 years.
Cheers
Jeremy
Jeremy
After reading these questions and answers and the terms and conditions can you confirm for me if when redeeming the reward points for Qantas FF, IS ONE REWARD point in your program EQUAL TO ONE FREQUENT FLYER POINT. ie if I have accrued 100,000 rewards points using the cards, does that mean I will get 100,000 Qantas FF points. Cheers
Hi Lynn. Thanks for your question. For information about the transfer rates between the Commonwealth Bank Awards Program and the Qantas Frequent Flyer Program, please see this page. Jacob.
we’re on a 457 temp business visa – but have medicare cards – can we apply for this credit card? We are looking at changing our 2 NAB cards – which we applied for and received without issue. thanks
Hi Michelle,
Thanks for the question. Most cards only allow permanent residents to apply, but have a look at this HSBC credit card that does allow residents on a temporary visa. http://www.creditcardfinder.com.au/credit-cards-for-temporary-residents – Cheers.
Jeremy
The advertising is such that it gives the impression that you earn 3 points for Amex and 1 point for every dollar spent, however on my statement it halves the amount points earned to Qantas. Not happy!
Why is this?
Hi,
Platinum Awards Members with Qantas Frequent Flyer Direct earn 3 points per $1 spent using a linked American Express Card for the first 120,000 points earned. For the remaining 80,000 points you will earn at a ratio of 1:1. Points capped at 250,000 for the year. Cheers.
Jeremy
I have a Commonwealth Platinum Credit card and was wondering how I link it to Frequent Flyers.
Best wishes Leigh
Hi,
Thanks for your question. You will have the option of linking your card account and QFF membership during the application process. The terms and conditions say that you must opt-in with an already active frequent flyer account that has an identical name that Platinum card’s account name. A joining fee will apply if you are not already a QFF member and an opy-in fee will apply when you link your QFF membership to your Platinum card’s account. Cheers.
Jeremy
what is minimum income and assets required for platinum card from commonwealth
Hi Jack,
Some credit cards do have a minimum income requirement but the Commonwealth Platinum rewards credit card is not income based however they would like to see that you earn some amount of money. Thanks for your question.
Cheers,
Jeremy
What is the Minimum Income amount- put it on the site
Hi Kirsty. Thanks for your question. There is no minimum credit limit for this card in the sense that it’s extremely difficult to say that a person who earns X will qualify for this card. Rather, Commonwealth Bank will assess you application, provide conditional approval and assign a credit limit based on the information you provide.
Hope this has helped.
If I am booking an award flight with a partner airline, how many frequent flyer points does it take to book 1 air mile – some are 1 for 1, others take 2 FF pts for 1 air mile.
Hi Cheryl. Please check this page for transfer rates from Commonwealth bank Awards to partner airlines. Thanks.
Are there age limits on the complimentary international travel insurance with the platinum card?
Hi Pam,
For yourself and your spouse, no; however, the bank’s definition of a dependent child is: ‘anyone who is unmarried under the age of 18 still living in the family residence, or unmarried children who are between the ages of 18-21 who are full time students in Australia. They are eligible for complimentary travel insurance provided you meet with the other terms and conditions stipulated in the Commonwealth Bank Credit Card Complimentary Insurance and Pricing cover document.
Cheers
Jeremy
WE have a CBA Platinum Awards card. It has a limit on Qantas FF points. Is this the best the CBA has?
Hi Glen
Thanks for your comment.
The Commonwealth Bank Diamond Awards credit card has a total points cap of 1,000,000 Awards points per year.
The Commonwealth Bank Platinum Awards credit card has a total points cap of 250,000 Awards points per year.
Cheers,
Jeremy
i like to use my credit card to deposit money to the tab and other corporate bookmakers – only small – can i still receive points for these transactions