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80,000 Spend $4,000 within first 90 days
CommBank Business Platinum Awards Credit Card
CommBank Business Platinum Awards Credit Card

Commonwealth Bank Credit Cards

CommBank Business Platinum Awards Credit Card

Updated 22 July 2021

Turn your business expenses into rewards points with CommBank Business Platinum Awards Credit Card. Receive up to 80,000 Bonus Awards Points which you can redeem for gift cards, flights, merchandise, and more. Plus, enjoy other features including an unsecured credit limit of up to $50,000 and complimentary travel insurance. New customers only.

T&Cs apply. Offer ends 30 September 2021

Points Earn Rate (per $1 spent)

1 point

CBA Awards

Rewards Program

Commonwealth Bank Awards

Bonus Points

80,000 pts

Spend $4,000 within first 90 days

Pros and cons

  • Receive 60,000 Bonus Awards Points when you apply by 30 September 2021 and spend $4,000 on eligible purchases within the first 90 days
  • Plus 20,000 bonus points when you keep your card open for a year
  • Unsecured credit limit of up to $50,000 (based on eligibility criteria)
  • Complimentary Transit Accident Insurance and Unauthorised Transaction Insurance

  • Earn just 1 Award point for every $1 spent on Mastercard
  • $75 p.a. additional cardholder fee
  • Points are capped at 300,000 per year

Creditcard.com.au review

Editor Review

CommBank Business Platinum Awards Credit Card

Roland Bleyer
Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au. 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.

User reviews

CommBank Business Platinum Awards Credit Card ( based on 1 Creditcard.com.au user review )

37% rating based on 1 review

Rates
Fees
Rewards
Customer Service
Value

Rates and fees

Interest rates



Purchase rate 20.74% p.a.

Cash advance rate 21.74% 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 21.74% p.a.

Balance transfer from personal loan No

Balance transfer fee No fee

Balance transfer limit N/A

Banks you can't balance transfer from Commonwealth Bank

Credit limits

Minimum credit limit $6,000

Maximum credit limit $50,000

Fees & repayments

Annual fee $300 p.a.

Additional cardholder fee $75 p.a.

Foreign transaction fee 3%

Minimum repayment $25 or 2% (whichever is greater)

Cash advance fee Consumer: $3 or 3%, whichever is greater; Commercial: 1.5%

Late payment fee $20

Rewards and points

Rewards program

Rewards Program Commonwealth Bank Awards Commonwealth Bank Awards

Bonus points 80,000 points

Annual points cap 300,000

Bonus points spend criteria Spend $4,000 within first 90 days

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 Yes

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, Google Pay and Samsung Pay

Overview

CommBank Business Platinum Awards Credit Card

With the Commbank Business Platinum Awards Credit Card you make business purchases and get up to 55 days interest free on purchases.

Key features

  • Earn 1 Awards point for every dollar spent on the Mastercard
  • Complimentary Transit Accident Insurance and Unauthorised Transaction Insurance
  • Unsecured credit limit of up to $50,000 (based on eligibility criteria)
  • 60,000 Bonus Awards Points when you apply by 30 September 2021 and spend $4,000 on eligible purchases within the first 90 day
  • Plus 20,000 bonus points when you keep your card for a year
  • The primary cardholder takes personal responsibility for all transactions on the account
  • Additional cardholder fee of $75 per annum

Minimum criteria to apply for this card

  • Be over 18 years old

  • Good Credit and have not applied for multiple credit cards recently

  • Australian Resident or Citizen. Temporary residents may apply.

  • You have your personal details ready to complete the online application

Roland B Bleyer

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.

Showing one question (showing the latest 10 Q&As)

Christie

Christie

4 January 2021
Will any business credit card provide travel insurance for staff/employees whose airline tickets are booked and paid for on the credit card, although are not a cardholder? Also, do points go to an individual person, or the company? I am most likely looking at either CommBank or Westpac. Thank you
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    4 January 2021
    Hi Christie, I don't think so with those banks. You might need to look at AMEX for that feature - https://www.creditcard.com.au/americanexpress-business-platinum-credit-card/. Complimentary Travel Insurance for both primary and supplementary cardholders. Its more of a high end feature. Up to 99 additional cardholders at no extra cost. Very useful if you are booking a number of different people. AMEX customer service is very good. Though understand if you don't want AMEX. Reach out to CBA and Westpacs directly to see if they can provide that feature.
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