CommBank Business Platinum 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 CommBank Business Platinum Awards Credit Card

Earning rewards on CommBank’s Awards program, the CommBank Business Platinum Awards Credit Card allows cardholders to get something back on their business spend plus a chance to earn more with its introductory offer of up to 80,000 Bonus Awards Points. Other features offered on this card include up to 55 days interest-free on purchases, complimentary overseas travel insurance, and easy card management and tracking via CommBank tools.

What we love...

Commbank Platinum Awards Credit Card allows new cardholders to earn big rewards of up to 80,000 bonus points with its current introductory offer. To receive the first 60,000 points, you need to apply by 30 September 2021 and spend $4,000 on eligible purchases within 90 days from activation. On top of that, you also get an additional 20,000 Bonus Points when you keep your card open for more than a year.

Ongoing, this card is designed to reward cardholders by allowing them to earn points on CommBank’s Awards program. You will earn 1 Awards point for every $1 you spend on your business expenses, plus you can earn bonus Awards points when you make purchases with your credit card at any of the program’s bonus partners. Points are capped at 300,000 per year.

What can you redeem your points for? The Awards program is pretty flexible, allowing you to redeem points for gift cards, merchandise, cashback, flights, and more. You could redeem your points instantly for purchases at Myer, or for travel at Flight Centre. There is also the option to convert Awards points to frequent flyer programs such as Velocity and Qantas.

Aside from its intro offer and rewards, what else does the CommBank Business Platinum Awards Credit Card have to offer? Designed to work as a cash flow tool for small business owners, the card offers up to 55 days interest-free on purchases, with a minimum credit limit of $6,000, ranging up to $50,000 (based on eligibility criteria).

It has a simple application process, which sets it apart from other business products, such as business loans, as there is no need to provide business financials. Simple is the keyword ongoing as well, making it easier for you to separate your business and personal spending, while also helping you to save time with automatic bank feeds to accounting software such as Xero or MYOB.

This simplicity carries over to card management and tracking. As the primary cardholder, you can manage your account online with CommBiz, NetBank or the CommBank app, to see transactions updated instantly. You can also lock international payments, block ATM cash withdrawals and limit spending, while staying in control with alerts and payment reminders.

What’s not so great...

As is usually the case with rewards cards, the CommBank Business Platinum Awards Credit Card has a pretty sizable annual fee for both the primary cardholder and additional cardholders. Whether this fee is worth paying will depend on how many rewards you earn, and how much value you gain from the features on offer.

It’s also worth pointing out that this card does not feature a low purchase rate. At the end of the intro period, it will become very important to clear your balance to avoid interest accruing at that higher rate.

Why should you choose this card?

If you want your business spending to accumulate points on a flexible rewards program, it could be well worth your time to check out the CommBank Business Platinum Awards Credit Card. You can enjoy access to all the features we have already mentioned, plus International Travel Insurance, Transit Accident Insurance and Unauthorised Transaction Insurance.

Currently, the card also offers new cardholders up to 80,000 Bonus Awards Points - 60,000 Bonus Points when you apply by 30 September 2021 and spend $4,000 on eligible purchases within 90 days from activation. Plus, 20,000 Bonus Points when you keep your card for a year.

As long as you get more out than you put in, the card could offer serious value.

Overall Rating

A rewards card earning points on CommBank’s flexible Awards program, the CommBank Business Platinum Awards Credit Card is currently offering complimentary overseas travel insurance and easy card tracking and management.