- Unsecured credit limit of up to $50,000 (based on eligibility criteria)
Pros
Unsecured credit limit of up to $50,000 (based on eligibility criteria)
Cons
Earn just 1 Award point for every $1 spent on Mastercard
High Interest Rates
100% of customers who have rated this card would recommend it
| Interest Rates | |
| Purchase rate | 20.74% p.a. |
| Cash advance rate | 21.74% p.a. |
| Interest free on purchases | up to 55 days |
| Balance Transfer | |
| Balance transfer rate | 5.99% p.a. for 5 months |
| Balance transfer fee | No fee |
| Balance transfer revert rate | 21.74% p.a. |
| Balance transfer from personal loan | No |
| Banks you can't balance transfer from | Commonwealth Bank |
| Credit limits | |
| Minimum credit limit | $500 |
| Maximum credit limit | $50,000 |
| Fees & repayments | |
| Annual fee | $100 p.a. |
| Additional cardholder fee | $75 p.a. |
| Cash advance fee | 2% |
| Foreign transaction fee | 3% |
| Minimum repayment | $25 or 2% |
| Late payment fee | $20 |
| Credit card type | Mastercard |
| Rewards program | |
| Rewards program |  Commonwealth Bank Awards |
| Annual points cap | 60,000 |
| Bonus points spend criteria | N/A |
| Earning points with this card | |
| CBA Awards points | 1 point per $1 spent |
| Overseas earn rate | same as standard earn rate |
| Points cap per month | N/A |
| Complimentary insurance | |
| Flight inconvenience insurance | No |
| Transit accident insurance | Yes |
| Smartphone screen insurance | No |
| Purchase protection insurance | No |
| Extended warranty insurance | No |
| Rental Vehicle Excess In Australia Insurance | No |
| Extras | |
| Unauthorised Transaction Insurance | |
| Eligible with Apple Pay |
Commbank Business Awards Credit Card
Roland Bleyer
Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au.
The CommBank Business Awards Credit Card
Looking for ways to get more out of your business spending? A business rewards card could be just what you need. With the CommBank Business Awards Card, you can earn rewards on your everyday business spending, while taking advantage of an array of features, benefits and business tools. Worth finding out more? We think so!
What we love...
What really sells this card is its rewards program. Allowing cardholders to earn points on their business spending, the CommBank Business Awards Card offers a huge range of rewards points redemption options, from flights and merchandise to gift cards and cash back.
Accumulating points within CommBank’s Awards program, the card’s earn rate allows you to earn 1 Awards points for every $1 spent on using your Mastercard, plus, you can also earn bonus Awards points when you use your card at any of CommBank’s bonus partners. Points are capped at 60,000 per year.
And those redemption options? You could choose to redeem your points instantly when paying in-store for purchases at Myer, or alternatively, points can be redeemed within the Awards program for a great range of gifts, merchandise, cashback and more.
In terms of travel, you can redeem points when booking directly with Flight Centre, or you could use them within other travel programs such as Velocity Rewards and Qantas Frequent Flyer for flights, upgrades and merchandise.
What’s not so great...
When weighing up the options on a new business credit card, it’s important to look at all angles. With the CommBank Business Awards Card, you will have an annual fee of $100 to cover, plus $75 per year for each additional card. With relatively high rates of interest on cash advances and purchases, that’s also something to take into consideration.
While the card does offer a balance transfer deal, it’s not the best on the market, giving you 5.99% p.a. on balance transfers for five months, to then revert to the cash advance rate. This could save you some money, but if you’re serious about paying down debt, another card with a 0% p.a. balance transfer offer over a longer period of time could be a better option.
Why should you choose this card?
As a rewards business card, the CommBank Business Awards Card certainly has a lot to offer. But, there is plenty more in features and extras to help make it even more appealing.
With up to 55 days interest free on purchases, it can extend cashflow for small business owners. The card can also help save time, keeping business expenses in one place, ready for the business activity statement. An automatic bank feed sent directly to accounting software such as Xero or MYOB can help save even more time.
In terms of support, you can benefit from 24/7 emergency assistance from Mastercard Global Service if you lose your card overseas, with complimentary transit accident insurance and unauthorised transaction insurance also on your side.
As for leisure benefits, Priceless Sydney and Mastercard Privileges offers access to a unique collection of entertainment experiences.
Overall Rating
A truly rewarding business rewards card offering plenty of features, extras and business tools.
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Commbank Business Awards Credit Card
Commbank Business Awards Credit Card lets you earn points for every dollar spent to redeem on a wide range of gift cards, merchandise, cash back, flight and much more. Earn 1 Awards point for every dollar spent on your Mastercard accepted at over 43 million location worldwide. Make business purchases and not pay anything for up to 55 days, leaving money in the bank for longer. Get access to an unsecured credit limit of up to $50,000 with the option of one additional card holder.
Key features
- Earn 1 Awards point for every dollar spent on the Mastercard
- Complimentary transit accident insurance and unauthorised Transaction Insurance
- Add your business name on the credit card beneath cardholder’s name
- Unsecured credit limit of up to $50,000 (based on eligibility criteria)
- The primary cardholder takes personal responsibility for all transactions on the account
- Additional cardholder fee of $75 per annum
- Be over 18 years old
- Good credit and not applied for multiple credit cards recently
- Australian permanent residents
- You have your personal details ready to complete the online application
Hiren
12 March 2018Roland
13 March 2018