- Earn 1 Awards points for every $1 spent on Mastercard up to $2,000 per statement period; 0.5 Awards points per $1 spent thereafter.
- No annual cap and expiry on points earned
- Minimum credit limit of $500
- *$8 monthly fee ($96 per year)
- Up to 44 days interest-free on purchases
- Ability to earn Qantas points instead of Awards points
- Free additional cardholders
- Eligible with Apple Pay, Google Pay, Samsung Pay, Fitbit Pay and Garmin Pay
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Commonwealth Bank Credit Cards
Commonwealth Bank Awards Credit Card
Updated 29 July 2024
Earn rewards on everyday card spending - 1 Awards Point for every $1 spent with Commonwealth Bank Awards Credit Card. annual cap and expiry on points earned. Plus, enjoy up to 44 days interest free on purchases and other handy features. T&Cs apply.
Points Earn Rate (per $1 spent)
1 point
Capped at $2,000 per statement, then 0.5 pts per $1
Rewards Program
Commonwealth Bank Awards
Bonus Points
N/A
Pros and cons
- No international travel or shopping insurance
Creditcard.com.au review
Editor Review
Commonwealth Bank Awards Credit Card
Pauline Hatch
Pauline is a personal finance expert at CreditCard.com.au, with 9 years in money, budgeting and property reporting under her belt. Ask Pauline 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. There is no limit on the Awards points you can earn per year, but be aware that, after spending $2,000 in a statement period, the earn rate becomes 0.5 points per $1 spent for the rest of that period. There is also 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.
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.
CommBank has moved several of its cards over to a monthly fee rather than an annual fee. The Awards card charges $8 per month, which is $96 per year. With a fairly low annual fee, the card makes it easy to get value back on any rewards earned. CommBank also removed the fee for additional cardholders, so you can now earn points faster by sharing with family members.
In terms of extras, you can save on interest with up to 44 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 with no annual cap and access to a flexible rewards program.
User reviews
Rates and fees
Interest rates
Purchase rate 20.99% p.a.
Cash advance rate 21.99% p.a.
Interest free period on purchases up to 44 days
Credit limits
Minimum credit limit $500
Maximum credit limit N/A
Fees & repayments
Annual fee $96* p.a.
Additional cardholder fee $0 p.a.
Foreign transaction fee 3.5%
Minimum repayment 2.5% or $75 (Business Low Rate & Interest-Free Days); 2% or $25, whichever is greater (all other cards)
Cash advance fee Consumer: $4 or 3%, whichever is greater; Commercial: 1.5%
Late payment fee $20
Rewards and points
Rewards program
Rewards Program
Commonwealth Bank Awards
Bonus points N/A
Annual points cap uncapped
Bonus points spend criteria N/A
Earning points with this card
CBA Awards Rewards points 1 point per $1 spent
Points cap per month Capped at $2,000 per statement, then 0.5 pts per $1
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 Yes
Extended Warranty Insurance Yes
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.
Key features
- Earn 1 Awards points for every $1 spent on Mastercard
- No expiry on points earned
- $96* annual fee
- Up to 44 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
Pauline is a personal finance expert at CreditCard.com.au, with 9 years in money, budgeting and property reporting under her belt. Pauline is passionate about seeing Aussies win by making their money – and their credit cards – work smarter, harder and bigger
Recently Asked Questions
Something you need to know about this card? Ask our credit card expert a question.
Ask a question14 questions (showing the latest 10 Q&As)
When did this new $8 monthly fee start? i have two fees from June and July 2024.
Hi Kerry, the CommBank annual fee was changed to an $8 monthly fee around mid last year. If you spend a certain amount on the card you may be eligible for the fee to be waived. For more information, you can contact CBA directly at 13 2221 or use the chat function in the CommBank App.
Do I need to activate my renewed awards credit card?
Hi Rosemary, yes you still need to activate your renewed credit card before you can use it.
Hi Pauline, can I redeem my Commbank Awards points for cash?? As in can I use my points to set off charges on my statement?? If yes, could you please tell me what the conversion rate of awards points to cash is??
Thanks
Hey Tanmay, getting cash back with your CommBank Awards points to be credited straight into your credit card account is one of their redemption options. Unfortunately, points conversion is not available but you’ll be able to see it once you’re logged into the CommBank app or to NetBank. Here’s our guide to the CommBank Rewards Program if you’d like a read.
Is there an additional monthly fee on this card if spending is below some limit?
Hi John, there is no additional fee if you choose not to use your card in a month or if you’ve spent less. Of course, the $59 annual fee will still apply.
do you get points for paying bpay on your credit card
Hi Beverley, I checked the CommBank T&C’s for their Awards program and payments made through BPAY aren’t eligible for rewards points. There are 3rd party services like Sniip that allow you to make BPAY payments and still earn points!
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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24 August 2021i would like to reedeem my awards points to my banbcard
Recommends this cardChristine 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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