20.24%
5.99% for 5 months and then 21.24%
$280$250 if CBA customer when applying
55
What's hot:
What's not:
Mozo snapshot:
The Platinum Awards Credit Card links two cards to one account, helping customers to get the most out of their rewards. Plus, pay 0% on purchases for the first 5 months.
Key features:
The Platinum Awards Credit Card offers customers the flexibility of two cards: Amex and MasterCard. We suggest you stick with the American Express option, however, as you'll get double the points for every dollar you spend. The points you earn do not expire, but they are capped at 250,000 a year.
You can choose between directing your points towards earning a range of rewards such as flights, hotels and giftcards, or they can be converted into Qantas Frequent Flyer Points. The Frequent Flyer option does incur an extra $10 rewards program fee.
The Commonwealth Bank Platinum Awards credit card comes with an introductory offer of 0% on purchases for 5 months, after the intro period there is a standard purchase rate of 20.24%, making this one account you don't want to build up debt on. If you have pre-existing debt on another card, the CommBank Platinum Awards Credit Card offers a low balance transfer rate of 5.99% for five months. But if you haven't paid off the debt by the end of that period, your balance will roll over to the much less reasonable cash advance revert rate of 21.24%.
There is a hefty annual fee of $280, but if you are an existing CommBank customer, you'll only pay $250 per year. And don't forget the card comes with concierge service, complimentary international travel insurance, and, if you're a Sydneysider or visiting Sydney, the exclusive Priceless Sydney program. Suddenly, the annual fee isn't looking too bad at all!
Who it's good for:
The CommBank Platinum Awards Credit Card will work well for anyone looking to increase their points earning potential.
Any catches?
Avoid late repayments - they'll attract a $20 fee.
| Product Type | Overall | Price | Features | Service | Convenience | Trust |
|---|---|---|---|---|---|---|
| Commonwealth Bank credit cards |
7.2
Based on 783 Commonwealth Bank credit card reviews |
6.1 | 6.3 | 7.4 | 8.2 | 7.5 |
Read Commonwealth Bank credit card reviews by the Mozo community
Great CASH redemption benefit
This particular Mastercard product is unique in that it not only has the most competitive rate but also allows customers the option of redeeming the points accumulated for CASH which is very useful as compared with products. A point to note is tha... Full review
This particular Mastercard product is unique in that it not only has the most competitive rate but also allows customers the option of redeeming the points accumulated for CASH which is very useful as compared with products. A point to note is that although you need more points to get a decent product, as is with most reward programs, the redemption of CASH amount vis-a-vis the points exchanged is good. That is why I will never part with this CBA Mastercard product because of this unique feature although it would have been great if it also came with a low rate credit card instead of a normal credit card offer.
1 person found this review helpful – do you?
YesGood service
Card gives travel insurance cover free. Full review
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YesGreat rewards just for using your Credit Card!
I like the versatility of this product. You can use it anywhere. Within Australia and anywhere else in the world. The Platinum Awards Card allows you to earn multiple points for each dollar spent. The awards store has thousands of items to choose... Full review
I like the versatility of this product. You can use it anywhere. Within Australia and anywhere else in the world. The Platinum Awards Card allows you to earn multiple points for each dollar spent. The awards store has thousands of items to choose from. There are also savings available on annual fees if other products are obtained.
Was this review helpful?
YesGreat service.
We had trouble with an overseas company accessing out credit cards without our permission. The staff at our branch were great helping us to close down & us obtain new cards. The service was excellent. Full review
We had trouble with an overseas company accessing out credit cards without our permission. The staff at our branch were great helping us to close down & us obtain new cards. The service was excellent.
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YesGood rewards
Good rewards program with automatic frequent flyer conversion of points. Good online access with rapid updating of monetary status. Easy and efficient automatic payment process at the end of the month. Some difficulty in prompt connection to cust... Full review
Good rewards program with automatic frequent flyer conversion of points. Good online access with rapid updating of monetary status. Easy and efficient automatic payment process at the end of the month. Some difficulty in prompt connection to customer service on occasions.
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YesClose to where I live convenient for me to access
Myself and my family have banked with them for years they have always been good. Full review
Myself and my family have banked with them for years they have always been good.
Was this review helpful?
YesGreat rewards
Great rewards on using this card. The point adds up so quickly and allows you to own things you normally cannot afford. Full review
Great rewards on using this card. The point adds up so quickly and allows you to own things you normally cannot afford.
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YesGreat points system, great service over the phone
like: free period for payment no interest charge when paid in full great offers to by from points, I have bought a camera when our daughter was born from points, absolutely the best value for points, and that is only by flashing amex when shopp... Full review
like: free period for payment no interest charge when paid in full great offers to by from points, I have bought a camera when our daughter was born from points, absolutely the best value for points, and that is only by flashing amex when shopping. Love it dislike: not all retailers use amex, as it has high fees for them
Was this review helpful?
YesHave not had any problems so I rate it as good.
You can use it anywhere which is great but the fees should be better explained. Full review
You can use it anywhere which is great but the fees should be better explained.
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YesA worthwhile product and good customer service
Clearly written guidelines are given about the product, good customer service with activating and maintaining the card and good awards arrangements. It makes the product very worthwhile. Full review
Clearly written guidelines are given about the product, good customer service with activating and maintaining the card and good awards arrangements. It makes the product very worthwhile.
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YesGood rewards range of prizes but high % rate
Interest rates are way too high, points are too low in contrast to the rates paid and rewards given but they do give good service and keep you updated. Still I would change cards in a flash if I found a better value card. Full review
Interest rates are way too high, points are too low in contrast to the rates paid and rewards given but they do give good service and keep you updated. Still I would change cards in a flash if I found a better value card.
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YesWas this review helpful?
YesBe more transparent and easier to understand
People need to make sure they get to know all the small print about use of the Credit Card and understand what they mean. You get to really know about their effect when you've been hit with unexpected charges. Full review
People need to make sure they get to know all the small print about use of the Credit Card and understand what they mean. You get to really know about their effect when you've been hit with unexpected charges.
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YesInternet banking is great
You can always get stuck with credit card debt it would be nice for someone to call us and ask if there is anything they can do to help minimise interest. Full review
You can always get stuck with credit card debt it would be nice for someone to call us and ask if there is anything they can do to help minimise interest.
Was this review helpful?
YesVery good customer relations & technical support
Make sure you repay in full by the due date--you will be miles ahead! Full review
Make sure you repay in full by the due date--you will be miles ahead!
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YesConvenient and easily managed account online
PROS Facility to view/print e-statements for long periods Facility to manage account online Widely used everywhere Convenient tap and go facility CONS Can't think of any Full review
PROS Facility to view/print e-statements for long periods Facility to manage account online Widely used everywhere Convenient tap and go facility CONS Can't think of any
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YesDIY banking, 24/7 service. I'm covered & no bother
Commbank rewards the money lover, With my 3 accounts my finances are covered. Save it or spend it, debit or credit, Platinum Awards I give the very best merit. Full review
Commbank rewards the money lover, With my 3 accounts my finances are covered. Save it or spend it, debit or credit, Platinum Awards I give the very best merit.
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YesSo easy to use, low fees and great rewards
Really easy to use - great website for internet banking, ATMs everywhere, easy branch and phone access. Rewards and low fees just icing on the cake! Full review
Really easy to use - great website for internet banking, ATMs everywhere, easy branch and phone access. Rewards and low fees just icing on the cake!
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YesGreat personal service from people who understand!
LOVE this and all products I have with the Commonwealth Bank. Nothing is ever too hard for them, they always have time to listen and explain and deserve top marks for employing Australians in Australia to deal with Australians, both in person and ... Full review
LOVE this and all products I have with the Commonwealth Bank. Nothing is ever too hard for them, they always have time to listen and explain and deserve top marks for employing Australians in Australia to deal with Australians, both in person and by telephone! Pros must be that if you have a question they answer it in words you understand. If you have a problem they can and do understand and often go 'outside the square' for their customers.
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YesGood products and service but branches short of st
I like this product because it offers extra warranty on goods purchased, rewards and travel insurance. But I think the yearly fee is too high. Full review
I like this product because it offers extra warranty on goods purchased, rewards and travel insurance. But I think the yearly fee is too high.
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Yes(how did we do it? find out...)
To work out the "Rewards value minus fees" in our Rewards Revealer we:
The Commonwealth Bank might be one of Australia’s oldest and largest banks, but lately it’s determined to do things differently. The Commonwealth Bank reckons it’s focusing more on customer service and earning your business rather than counting on it. If you like the sound of that, then check out the Commonwealth Bank’s wide range of personal banking products, including term deposits, savings accounts, credit cards, home loans and personal loans.
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