- Earn 1 Awards points for every $1 spent on Mastercard
- Minimum credit limit of $500
- $59 annual fee
- 5.99% on balance transfers for the first 5 months (reverts to cash advance rate)
- Up to 55 days interest free on purchases
- Ability to earn Qantas points instead of Awards points
- Eligible with Apple Pay, Google Pay, Samsung Pay, Fitbit Pay and Garmin Pay
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ANZ Frequent Flyer Black Credit Card
120,000 Bonus Qantas Points + $200 back*
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Commonwealth Bank Credit Cards
Commonwealth Bank Awards Credit Card
Updated 5 August 2020
Points Earn Rate (per $1 spent)
1 point
CBA AwardsRewards Program
Commonwealth Bank Awards
Bonus Points
N/A
Pros and cons
- No international travel or shopping insurance
- Points earning capped at 50,000 Awards points per year (30,000 points per year if you have opted-in to Qantas Frequent Flyer Direct)
Creditcard.com.au review
Editor Review
Commonwealth Bank Awards Credit Card
Roland Bleyer
Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au. Ask Roland a Question about this card.
The Commonwealth Bank Awards Credit Card
Providing entry-level access to CommBank’s flexible rewards program, the Commonwealth Bank Awards Credit Card makes it easy to earn rewards on everyday card spending. With a focus on rewards, this card keeps other features fairly basic, providing access to functional budgeting tools that can track spending, while helping cardholders keep more control over their finances.
What we love...
Offering access to the “largest rewards program of any bank in Australia”, the Commonwealth Bank Awards Credit Card is an entry-level rewards card that allows cardholders to get something back on their day-to-day card spending.
The Commonwealth Bank Awards Credit Card has one earn rate across all purchases. That means you will earn 1 Awards point for every $1 you spend on the card, allowing you to earn up to an overall limit of 50,000 points within a year. There is no expiry on points earned.
To boost your points-earning potential, you can use your card with the program’s partners to earn additional points on your purchases. As for points redemption, you can redeem your points instore at Myer or at Flight Centre, swapping your points for a new pair of shoes or a flight to Vegas. Alternatively, you could redeem your points on the Awards site, with more that 1,000 options to choose from, including gift cards, tech and homewares.
The program makes it easy to check or redeem points, using NetBank or the CommBank app. If you find you don’t have enough points to get the reward you want, you can use Points Plus Pay, which allows you to use the Awards points you have now, and pay the remainder on your Commonwealth Bank Awards Credit Card.
Want to earn on the Qantas program instead? This card allows you to opt in to Qantas for an additional $30 per year. Once you’ve opted in, all points you earn on the card will be automatically converted to Qantas Points and transferred monthly to your Qantas Frequent Flyer account. Bear in mind, if you’re not yet a Qantas Frequent Flyer member, you may need to pay to join.
What’s not so great...
As with most rewards cards, the Commonwealth Bank Awards Credit Card has a high purchase rate and cash advance rate. If you want to retain any value from the rewards you earn on the card, you will need to clear the balance by the due date each month to avoid interest accruing.
Aside from that, you should know that this card is not abundant in features. It offers you the opportunity to earn rewards, but that’s about it. If you want a card with more features, you may want to check out the Platinum or Diamond options from CommBank, but be aware, you will pay more in annual fees for these cards.
Why should you choose this card?
As a basic rewards card, the Commonwealth Bank Awards Credit Card could be the ideal option for cardholders who are new to rewards, or anyone who simply wants a rewards card with no complicated features on the side.
With a fairly low annual fee, the card makes it easy to get value back on any rewards earned. But, if you choose to add any additional cardholders to the account, this comes at a cost of $10 per cardholder per year. While additional cardholders can help you earn points faster, weigh up the added value of the points they earn against that additional cardholder fee.
In terms of extras, you can save on interest with up to 55 days interest free on purchases, while enjoying access to Priceless Cities offers and experiences. You can benefit from more control over your finances by setting a Spending Cap, or instantly locking, blocking or limiting your card as needed. Meanwhile, Spending Tracker & Insights can assist with budgeting.
Overall Rating
As a basic rewards card, the Commonwealth Bank Awards Credit Card offers a straightforward earn rate capped at 50,000 Awards points per year, and access to a flexible rewards program with the option to opt in to Qantas Frequent Flyer.
User reviews
Rates and fees
Interest rates
Purchase rate 20.24% p.a.
Cash advance rate 21.24% p.a.
Interest free period on purchases up to 55 days
Balance transfer
Balance transfer rate 5.99% p.a. for 5 months
Balance transfer revert rate 21.24% p.a.
Balance transfer from personal loan No
Balance transfer fee No fee
Balance transfer limit 100% of approved credit limit
Banks you can't balance transfer from Commonwealth Bank
Credit limits
Minimum credit limt $500
Maximum credit limit $50,000
Fees & repayments
Annual fee $59 p.a.
Additional card holder fee $10 p.a.
Foreign transaction fee 3%
Minimum repayment $25 or 2%
Cash advance fee 2%
Late payment fee $20
Rewards and points
Rewards program
Rewards Program
Commonwealth Bank Awards
Bonus points N/A
Annual points cap 50,000
Bonus points spend criteria N/A
Earning points with this card
CBA Awards Rewards points 1 point per $1 spent
Points cap per month N/A
Overseas earn rate same as standard earn rate
Additional features
Complimentary insurance
International Travel Insurance No
Flight Inconvenience Insurance No
Transit Accident Insurance No
Smartphone Screen Insurance No
Purchase Protection Insurance No
Extended Warranty Insurance No
Rental Vehicle Excess In Australia Insurance No
Extras
Eligible with Apple Pay, Google Pay, Samsung Pay, Fitbit Pay and Garmin Pay
Overview
Commonwealth Bank Awards Credit Card
With the Commonwealth Bank Awards credit card you earn 1 Award points per $1 spent with your Mastercard. For an additional annual fee of $30, you can choose to earn Qantas Frequent Flyer points instead of Awards points.
Key features
- Earn 1 Awards points for every $1 spent on Mastercard
- Earn up to 50,000 points a year
- $59 annual fee
- 5.99% on balance transfers for the first 5 months (reverts to cash advance rate)
- Up to 55 days interest free on purchases
- Eligible with Apple Pay, Google Pay, Samsung Pay, Fitbit Pay and Garmin Pay
Minimum criteria to apply for this card
-
Be over 18 years old
-
Good Credit and have not applied for multiple credit cards recently
-
Resident or citizen of Australia. Temporary residents are eligible.
You have your personal details ready to complete the online application
Roland B Bleyer founded Creditcard.com.au in 2005 and has extensive knowledge about credit cards. He personally answers all questions and write the editor reviews for each card here. Always keen to share his passion to educate consumers and help you select better suited credit cards.
Recently Asked Questions
Something you need to know about this card? Ask a our credit card expert a question.
Ask a question9 questions (showing the latest 10 Q&As)
Received a Notice re changes to CBA Award Program dated 1.11.18 effective from December 2019 card holders can opt to transfer their points to Qantas Frequent Flyer program. What is the position if the cardholder does not want to opt to Qantas Frequent Flyer Program but remain in the CBA Award program as it is.
Hi Tony, this is all good. You would keep earning the standard CBA points if you do not opt in to receive the Qantas points. It may be a good time to review your credit card and see how the rewards stack up with other card in the market.
i would like to transfer points
Hi Leslie, You can now view and redeem your CommBank Awards points through the CommBank app. So it might be worth downloading that. Otherwise if you log into netbank you will be able to access the rewards program. There you can transfer points.
does my visa card offer cover for excess when hiring a car?
Hi Rob, there is no travel insurance with this Commbank credit card. If this is a feature you are interested in, then I suggest that you look at other cards available. If you would like some suggestions just let me know.
how do I redeem my award points
You can redeem your CommBank Awards points in-store at Myer and Flight Centre, via the CommBank Awards website (accessible through NetBank or the CommBank app) or over the telephone.
Here’s how:
In-Store - Pay with points instantly in-store at Myer and Flight Centre.
Via NetBank- Log on to NetBank and click on the Awards icon next to your credit card account. You’ll be directed to your profile on the CommBank Awards website. Here you can see your Awards Points balance, account history and redeem your points.
Online via the CommBank app - Log on to the CommBank app and select the Cards icon. Scroll to your Awards credit card and then tap on the 'View CommBank Awards' link. You’ll be directed to your profile on the CommBank Awards website. Here you can see your Awards Points balance, account history and redeem your points.
Call Commbank - You can call our Awards Centre on 13 1661 between 8am and 8pm weekdays (Sydney/Melbourne time).
what income is required for this card. I have excellent credit references but low income.
Hi Lynne, I don't think they have a set minimum income. If you have good credit and at least 15k a year minimum, then I would say you could have a go.
what is classified as a department store for higher points merchants. Is there a list?
Hi Carol, I have found a list of bonus point partners - https://www.commbank.com.au/personal/credit-cards/awards/bonus-partners.html. I cannot find any reference on the CBA site to department stores for higher points.
Can visa subclass 485 apply for this credit card?
Hi Adrianna, I believe you can but there will be a range of other requirements that will need to be met to be approved.
Is there any relationship between this award card and commonwealth student credit card? Is there any method to wave annual fees of this card? Thank you.
Hi Zhen, the CommBank student low rate card has no annual fee for as long as you are a full time student. There is no way to waive the annual fee, however if you hold a qualifying Commonwealth Bank account or loan when you apply for an Awards, Gold Awards, Platinum or Diamond Awards account, they’ll discount your annual fee each year by $30.
What is the interest rate after the introductory period?
Hi Robert, the interest rate on purchases after the initial 0% interest period will be their standard variable purchase rate. The current standard variable rate on purchases is 20.24% p.a. which you will be able to find if you click on 'Rates & Fees' on the side bar on their page and then click on the relevant credit card.
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Christine Torris
28 January 2013Good purchase offer – 5 months 0%, but high purchase rate after that. Okay as long as you don’t let your bill carry over on a month. Awards on this card are pretty good and you can earn points easily – more on the Amex. Annual fee is okay but don’t expect a heap of extras.
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