Commonwealth Bank credit cards

Commonwealth Bank
Commonwealth Bank's overall rating for credit cards

(as rated by the Mozo community)

6.9 / 10

based on 8189 reviews

Looking for a credit card so you can spend in the most convenient way? Whether you’re buying online or popping into Myer, why not go with a credit card from one of Australia’s oldest and most trusted banks. Operating in Australia since 1912, CommBank is committed to providing Aussies with great customer service and competitive banking products. Read on for a rundown of all the key facts about Commonwealth Bank credit cards.

Rates and fees verified as correct at 14 November, 2018. Other information correct at the time of writing.

What credit cards do Commonwealth Bank offer?

Low rate credit cards Low rate credit cards

To qualify as ‘low rate’ these CommBank credit cards have a purchase rate lower than 15%. A low rate card is great for limiting the amount of interest you pay on your credit card balance, so it's great for spenders who may not pay off their balance in full each month. If you’re upgrading to a Gold card for the extra freebies, the annual fee will go up a bit, but the low interest rate won’t. When using this card, remember that the cash advance rate is generally a lot higher, even on low rate cards!

Product Purchase rate Balance transfer rate Annual fees Interest free days

9.90% p.a.

No current offer

$60 $24 per year if you sign up for AutoPay, an automatic payment program.

55

13.24% p.a.

5.99% p.a. for 5 months and then 21.24% p.a.

$59

55

13.24% p.a.

5.99% p.a. for 5 months and then 21.24% p.a.

$89

55


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Low fee credit cards Low fee credit cards

This refers to CommBank cards with an annual fee lower than $50. If you pay your balance off in full each month and so don’t really need to worry about interest, a low fee card might be for you. You’ll pay a minimal fee for the Basic option and a slightly higher one for the Gold, which comes with extra features like complimentary insurance. These cards have low fees to begin with, and then it gets better - CommBank will waive the annual fee completely if you spend over $1,000 in the year ($10,000 for Gold cards).

Product Purchase rate Balance transfer rate Annual fees Interest free days

20.24% p.a.

5.99% p.a. for 5 months and then 21.24% p.a.

$59

55

19.74% p.a.

5.99% p.a. for 5 months and then 21.24% p.a.

$29 $0 when you spend over $1,000 p.a, $0 in the first year

55

13.24% p.a.

5.99% p.a. for 5 months and then 21.24% p.a.

$59

55


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Rewards credit cards Rewards credit cards

CommBank offers four awards cards options, which give cardholders the opportunity to build up points with each purchase and claim things like shopping vouchers or flights. In fact, you’ll be spoilt for choice, as CommBank offers the largest rewards program of all Aussie banks. You can also choose between four tiers of Award Card, from Basic to Diamond, keeping in mind that you’ll pay higher fees for higher tiers, but get cool features like complimentary travel insurance in return.

Product Points per dollar Purchase rate Balance transfer rate Annual fees

1 point per dollar on Mastercard, up to 50000 points per year

20.24% p.a.

5.99% p.a. for 5 months and then 21.24% p.a.

$59

1.25 points per dollar on Mastercard, up to 1000000 points per year

20.24% p.a.

5.99% p.a. for 5 months and then 21.24% p.a.

$349

1 point per dollar on Mastercard, up to 150000 points per year

20.24% p.a.

5.99% p.a. for 5 months and then 21.24% p.a.

$249


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Prestige cards Prestige cards

Want to add something a little bit fancy to your wallet? Look no further than the prestige cards on offer from CommBank. These cards offer a huge range of freebie services, including complimentary insurance covers, a personal concierge and a rewards program to die for. Prestige cards pack a punch when it comes to annual fees and interest rates, but for spenders who will take advantage of the massive bonuses on offer, it shouldn’t take too long for a Commonwealth Bank prestige card to earn its keep!

Product Points per dollar Purchase rate Balance transfer rate Annual fees

1.25 points per dollar on Mastercard, up to 1000000 points per year

20.24% p.a.

5.99% p.a. for 5 months and then 21.24% p.a.

$349

1 point per dollar on Mastercard, up to 150000 points per year

20.24% p.a.

5.99% p.a. for 5 months and then 21.24% p.a.

$249


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**Saving based on the average difference in fees and charges over 3 years between the most competitive product Mozo can refer a consumer to and the average credit card product input by 6,863 consumers (average balance of $4,262 or balance transfer balance of $5,818, interest rate of 19.6% and annual fee of $36.50) who used the Mozo Credit Card Health Check tool between 1 January 2012 to July 2012.

Frequently Asked Questions about Commonwealth Bank credit cards

How many interest free days will I get with a Commonwealth Bank credit card?

CommBank gives an interest free period of up to 55 days on purchases made on all its credit card options. To take full advantage of your interest free days, you need to pay the full balance on your credit card statement each month. If you don’t you can lose your interest free days for the next month.

What fees might I be charged?

Depending on which CommBank credit card you choose, you might be charged an annual fee, which is different for each one. Aside from that, other fees you may end up paying include a late payment fee if you miss your monthly minimum repayment, and on awards cards, a fee for having an additional cardholder.

What is the minimum monthly payment I must make on a CommBank credit card?

Generally, your minimum repayment amount will be 2% of the closing balance on your credit card, rounded down to the nearest dollar. That is, unless you owe less than $25 - in which case your minimum payment is your full balance - or if you’ve exceeded your credit limit. In this case, your minimum payment is the amount you owe that is over your limit.
Remember: it’s always a good idea to pay off your credit card balance in full, and not only make the minimum repayment! Check out our guide on managing your credit card balance for more info.

Can I use paypass?

Absolutely! CommBank credit cards work on the MasterCard system, which allows you to use paypass or Tap ‘n’ Go for purchases under $100.

Can I use my credit card while I’m travelling overseas?

For all the globetrotters out there, we have some good news - you can use any CommBank credit card in 38 million locations all around the world. The bad news is that you will be charged a fee for each international transaction.

For Mastercard or Visa transactions - 3.00%

For American Express transactions - 2.00% plus an AMEX currency conversion fee of 1.50%

For overseas transactions in Aussies dollars - 3.00%

Need a credit card to take on your next holiday? Check out our guide to finding the perfect credit card for travel.

What kind of insurance options does my CommBank credit card offer?

For a little extra peace of mind, CommBank offers three different kinds of insurance on its Gold, Platinum and Diamond credit cards:

Complimentary travel insurance for you, your spouse and up to ten dependent children

Purchase security insurance to cover the cost of repair or replacement of purchases that are lost, stolen or damaged within 90 days of you having bought them

Extended warranty insurance to extend the manufacturer's warranty on most Australian purchases by up to a year

What rewards options do I have with my Awards credit card?

That all depends on what card you’re using and where you’re using it. Some of your options include:

Myer

You can pay in-store at Myer using a minimum of 180 CommBank awards points and a maximum of 1 million per day. Points can’t be redeemed for cash, and if you want to return your purchase, you can’t get the points back, but you will get a returns card of the same value.

Flight Centre

If you’re thinking of using CommBank awards points to buy a plane ticket for your next big holiday, a minimum spend of 2,500 points applies and what you can buy is subject to availability. So if you’ve got your eye on a popular flight, get in quick!

Check out this handy table to find out how many points your purchases are worth:

CommBank Credit CardNumber of points per $1 spent
Commonwealth Bank Awards American Express Credit Card1.5
Commonwealth Bank Awards MasterCard credit card1
Commonwealth Bank Gold Awards American Express Credit Card2
Commonwealth Bank Gold Awards MasterCard credit card1
Commonwealth Bank Platinum Awards American Express Credit Card2.5
Commonwealth Bank Platinum Awards MasterCard credit card1
Commonwealth Bank Diamond Awards American Express Credit Card

Commonwealth Bank Diamond Awards MasterCard credit card

3


1.25

Make sure you’re getting the most out of your rewards credit card by reading up on how to calculate rewards points.

What happens if I am the victim of credit card fraud?

No matter how much caution you exercise in using your credit card, the unfortunate truth is that you may wind up being the victim of credit card fraud or crime. CommBank has put measures in place to protect you from this, including:

Lock, block, limit

This feature, accessed through either NetBank or your CommBank app, allows you to instantly lock your lost credit card, block ATM cash advances and limit spending amounts.

Netcode security

Be safe and secure while shopping online with CommBank’s Netcode security.

100% moneyback guarantee

If you do wind up being the victim of credit card fraud, CommBank will reimburse you for any losses, as long as you report any suspicious activity on your card as soon as possible.

How are Commonwealth Bank credit cards rated?

Mozo users have rated Commonwealth Bank credit cards on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Commonwealth Bank credit cards

Overall 6.9

Price

Features

Customer service

Convenience

Trust

8147 Reviews

Recent Commonwealth Bank credit card reviews Recent Commonwealth Bank credit card reviews

Commonwealth Bank

Commonwealth Bank Platinum Awards Credit Card credit card review

Overall rating   10 / 10

Great customer service

You are able to go in any time to discuss any situation that arises with your banking.

Full review

You are able to go in any time to discuss any situation that arises with your banking.

    Price   9 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Michael, Queensland, reviewed 7 days ago

Commonwealth Bank

Commonwealth Bank credit card review

Overall rating   8 / 10

So far its been great

Been banking with CBA for maybe 20 years. They've not let me down yet.

Full review

Been banking with CBA for maybe 20 years. They've not let me down yet.

    Price   9 / 10

    Features   7 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Joy, Queensland, reviewed 7 days ago

Commonwealth Bank

Commonwealth Bank Platinum Awards Credit Card credit card review

Overall rating   10 / 10

Reliable

I have been with CommBank for a while now and I don't have any complaints. They are reliable.

Full review

I have been with CommBank for a while now and I don't have any complaints. They are reliable.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Asha, Victoria, reviewed 7 days ago

Commonwealth Bank

Commonwealth Bank Awards Credit Card credit card review

Overall rating   8 / 10

Not too sure about competitive interest rates

High interest rates, but can not change now as I don't work any more.

Full review

High interest rates, but can not change now as I don't work any more.

    Price   10 / 10

    Features   6 / 10

    Customer service   9 / 10

    Convenience   7 / 10

    Trust   10 / 10

Less

Christine, New South Wales, reviewed 7 days ago

Commonwealth Bank

Commonwealth Bank credit card review

Overall rating   7 / 10

Established & steady

CBA is great for everyday banking. No bells & whistles.

Full review

CBA is great for everyday banking. No bells & whistles.

    Price   6 / 10

    Features   0 / 10

    Customer service   5 / 10

    Convenience   8 / 10

    Trust   7 / 10

Less

Shelley, Queensland, reviewed 15 days ago

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What do you need to apply for a Commonwealth Bank credit card? What do you need to apply for a Commonwealth Bank credit card?

So you’re ready to apply for a credit card? Great! You can easily and quickly apply for any Commonwealth Bank credit card online, or within a branch. CommBank staff can guide you through a pre-approval application on the spot, and you’ll then have 30 days to decide if you want to accept the contract or cancel.

To apply for any CommBank credit card, you should:

  • be at least 18 years old
  • have the right to work in Australia
  • have a regular source of taxable income
  • not be bankrupt

For the application process, you should keep the major steps in mind, so you know what to expect and what details to have on hand. You’ll have to:

Enter your details - if you’re already a Commonwealth NetBank customer you can use your existing account details, but otherwise, fill in your personal details like name, address and employment details.

You can then choose options to customise and protect your credit card, including credit card insurance.

Upload documents - you’ll need at least two types of official identification, which can include a birth certificate, passport, driver's license, medicare card, photo ID card or marriage certificate. You’ll also need to provide proof of income, usually in the form of recent pay slips.

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