The 2019 Mozo Experts Choice Award winning Platinum Awards Credit Card is a card that has a lot of rewards bling whether you want to cash in on instant rewards at Myer, redeem points for a holiday at Flight Centre or transfer them across to your preferred airline's frequent flyer program. If you're super savvy and pay your balance off in full each month and use all of the features and benefits attached to the card like 24/7 concierge, complimentary travel insurance, purchase security protection and extended warranty insurance you'll get top value out of this card.
With the CommBank Platinum Awards Credit Card, you can bag 1 Award point per dollar spent. While points don’t expire, there is a yearly cap to consider of 150,000 Awards points, or 120,000 if you’ve opted to directly earn points into the Qantas Frequent Flyer Program.
You can choose to redeem your Award points through a range of airline programs or redeem points at Flight Centre, in-store at Myer, for gift cards, cash back or many other items from the Awards website, which according to Roy Morgan is the most extensive rewards program of any bank in Australia. And from January 1 2019, CommBank customers will also be able to make payments through the ease of Apple Pay.
The Commonwealth Bank Platinum Awards credit card has a standard purchase rate of 20.24% so watch overspending as it’s not a card you want to have an ongoing balance on for a long time. If you have pre-existing debt on another card, the CommBank Platinum Awards Credit Card offers a 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 sizable annual fee of $249, but don't forget the card comes with a 24/7 concierge service, complimentary international travel insurance (just be sure to activate it prior to leaving Australia), and, if you're a globetrotter MasterCards' exclusive Priceless Cities program which gives you access to a range of restaurants and entertainment options. Suddenly, the annual fee isn't looking too bad at all!
And don't forget the other complimentary insurances that could come in handy like purchase security protection, which if an item is lost, damaged or stolen within 90 days will get repaired or replaced by CommBank, and extended warranty insurance where you will get an extra 12 months warranty in addition to the standard Australian manufacturers warranty for the goods.
The Platinum Awards card comes with extra security via the lock, block and limit feature which enables you to change features of the card to suit your spending patterns. For instance you can block overseas transactions if you are not travelling, you can also give yourself a per transaction spending limit and block any ATM cash withdrawals. The feature is part of NetBank or the CommBank app, so if you change your mind you can easily unlock or clear it whenever you need.
The CommBank Platinum Awards Credit Card will work well for anyone looking to increase their points earning potential and is diligent about paying their balance in full each month.
Late repayments will attract a $20 fee so sign up for payment alerts or set up an automatic repayment in NetBank.
Don't be tempted to overspend with the card's $6000 minimum credit limit.
Fly Sydney to London return
239,200 points
Fly Sydney to Melbourne one-way
15,600 points
$100 Giftcard
21,000 points
$100 Cash
25,000 points
1 point per dollar on Mastercard, up to 150000 points per year
Transfer points to a range of airline programs or redeem points at Flight Centre, instore at Myer, gift cards, cash back or thousands of items from the Awards website.
You can get flights via Velocity, Qantas Frequent Flyer or through Flight Centre vouchers.
80,000 Bonus Awards Points when you spend $4,000 on eligible purchases in the first 90 days for new CommBank Awards customers with applications by 29 April 2021.
Spend $25,000 (Mastercard)
Spend $21,000 (Mastercard)
Spend $15,600 (Mastercard)
Spend $239,200 (Mastercard)
at 150,000 points yearly
Never
How do we calculate these points?
To work out the "Rewards value minus fees" in our Rewards Revealer we:
calculate how many points you'd get each year,
figure out how many flights or gift cards or cashback credits you could get for those points,
work out what that's actually worth to you,
take off the annual fee you'd pay.
More details:
Our calculations are designed to help you compare the value of different rewards schemes. To do this, we've looked at earning a one-way Sydney-Melbourne flight excluding taxes and charges, a return Sydney-London flight excluding taxes and charges, a $100 shopping Gift Card and $100 cashback. Most cards will also offer other rewards, which may be worth more or less than the ones we've shown.
We have made no allowance for bonus points for using your card at specific merchants, introductory offers or special offers. We have not assigned any value to instant discounts, insurances, ticketing and concierge services or other such benefits.
Rewards value calculations do not take credit card interest into account. If you do not pay off your card each month you may be better off looking for a card based on interest rates than on the value of rewards.
In products that have more than one card, a different mix of spend between American Express / Visa / Mastercard will give different results. Mozo's Rewards Revealer lets you choose the mix based on the way you would use such a product, and gives you tailored results.
We assume flights purchased with airline points are 'classic' or 'reward' economy seats with restricted seat availability. 'Any seat' rewards will probably cost more.
To compare the value of flight rewards, we sample online retail flight prices once a quarter based on the average price on a Wednesday 3 months in advance but outside NSW school holidays. For domestic flights we take the lowest available fare from each flight on that day from Qantas Red e-deal, Virgin Australia Saver including baggage and Jetstar Starter including baggage. We calculate the average price excluding taxes and surcharges for each airline, and also the average across all airlines (which we use when rewards are travel agent vouchers). For international flights, we take the lowest available fares on that same Wednesday from each of Qantas, Emirates, Malaysian, Etihad, Singapore, Cathay Pacific and Thai, assuming a return flight 2 weeks later, calculate the average price before taxes and surcharges and use this as our assumed cost of a flight on any airline.
Shopping rewards are based on $100 gift cards from a major national department store.
We make every effort to ensure our calculations are correct and up to date but make no guarantees.
20.24% p.a.
none
5.99% p.a. for 5 months and then 21.24% p.a.
yes
21.24% p.a.
55
$249.00
none
none
none
$20.00
3%, Min $3.00, Max $300
0%
$0.00
$0.00
$10.00
$25.00
2.0
1
none
Apple Pay, Google Pay, Samsung Pay, Garmin, Fitbit
Travel Insurance,
Extended Warranty,
Purchase Protection
My credit card with the CBA is my lifeline, the rewards programme has taken my wife and I on so many Holidays. The call centre people are so knowledgeable and helpful. The fraud section is very proactive. Have had my card compromised a couple of times, it only takes a phone call to get it sorted.
Read full reviewMy credit card with the CBA is my lifeline, the rewards programme has taken my wife and I on so many Holidays. The call centre people are so knowledgeable and helpful. The fraud section is very proactive. Have had my card compromised a couple of times, it only takes a phone call to get it sorted.
Commonwealth Bank is one of Australia’s most trusted banks. They are reliable with their technology and have an abundance of branches around town so you can access their facilities when needed.
Read full reviewCommonwealth Bank is one of Australia’s most trusted banks. They are reliable with their technology and have an abundance of branches around town so you can access their facilities when needed.
Product is good but not very happy with the behaviour of big banks.
Read full reviewProduct is good but not very happy with the behaviour of big banks.
Being one of the big 4 banks you feel that you can trust them. Interest rates could be better.
Read full reviewBeing one of the big 4 banks you feel that you can trust them. Interest rates could be better.
The Commonwealth Bank Platinum Mastercard has a decent rewards shop and offers free International Travel insurance which helps offset the $119 annual fee. Great for travellers and shopaholics alike!
Read full reviewThe Commonwealth Bank Platinum Mastercard has a decent rewards shop and offers free International Travel insurance which helps offset the $119 annual fee. Great for travellers and shopaholics alike!
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.
Westpac
Low Rate
13.74% p.a.
0% p.a. for 24 months and then 21.49% p.a. (1.00% balance transfer fee)
$59
St.George
Vertigo
0% p.a. for 7 months then 13.99% p.a.
0% p.a. for 22 months and then 21.49% p.a. (1.50% balance transfer fee)
$55 $0 in the first year
CUA
Low Rate Credit Card
11.99% p.a.
0% p.a. for 20 months and then 21.74% p.a.
$49 $0 in the first year
Defence Bank
Foundation Credit Card
3.99% p.a. for 6 months then 8.99% p.a.
3.99% p.a. for 6 months and then 8.99% p.a.
$45
Virgin Money
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
20.74% p.a.
0% p.a. for 22 months and then 20.99% p.a.
$129 $64 in the first year
Velocity Frequent Flyer
Qantas Money
Qantas Premier Platinum
19.99% p.a.
0% p.a. for 18 months and then 21.99% p.a. (1.00% balance transfer fee)
$299 $199 in the first year
Qantas Frequent Flyer
American Express
Qantas Discovery Card
20.74% p.a.
No current offer
$0
Qantas Frequent Flyer
ANZ
Low Rate
12.49% p.a.
0% p.a. for 25 months and then 20.24% p.a. (1.50% balance transfer fee)
$58 $0 in the first year
American Express
Qantas Discovery Card
Qantas Frequent Flyer
$0
No current offer
0.75 points uncapped
Qantas Money
Qantas Premier Platinum
Qantas Frequent Flyer
$299 $199 in the first year
100,000
1 point up to $10,000/month, then
0.5 points uncapped
Bankwest
Qantas Platinum Mastercard
Qantas Frequent Flyer
$160
30,000
0.75 points up to $2,500/month, then
0.3 points uncapped
St.George
Amplify Platinum
Qantas Frequent Flyer
$99
70,000
0.5 points uncapped
Citi
Rewards - e-voucher Offer
Citi Rewards Program
$199 $99 in the first year
No current offer
1 point up to $10,000/month
Bank of Melbourne
Amplify Platinum
Amplify Rewards
$99 $0 in the first year
No current offer
1 point uncapped
American Express
Velocity Escape Card
Velocity Frequent Flyer
$0
No current offer
0.75 points uncapped
St.George
Vertigo
0% p.a. for 22 months and then 21.49% p.a. (1.50% balance transfer fee)
0% p.a. for 7 months then 13.99% p.a.
$55 $0 in the first year
Westpac
Low Rate
0% p.a. for 24 months and then 21.49% p.a. (1.00% balance transfer fee)
13.74% p.a.
$59
CUA
Low Rate Credit Card
0% p.a. for 20 months and then 21.74% p.a.
11.99% p.a.
$49 $0 in the first year
ANZ
First
0% p.a. for 18 months and then 20.24% p.a. (2.00% balance transfer fee)
20.24% p.a.
$30
Qantas Money
Qantas Premier Platinum
0% p.a. for 18 months and then 21.99% p.a. (1.00% balance transfer fee)
19.99% p.a.
$299 $199 in the first year
Qantas Frequent Flyer
Citi
Clear Credit Card
0.90% p.a. for 15 months and then 22.24% p.a.
0.90% p.a. for 15 months then 14.99% p.a.
$99
Bank of Melbourne
Vertigo
0% p.a. for 22 months and then 21.49% p.a. (1.50% balance transfer fee)
0% p.a. for 7 months then 13.99% p.a.
$55 $0 in the first year
Bankwest
Zero Platinum Mastercard
2.99% p.a. for 9 months and then 17.99% p.a.
17.99% p.a.
$0
Westpac
Low Rate
13.74% p.a.
0% p.a. for 24 months and then 21.49% p.a. (1.00% balance transfer fee)
$59
St.George
Vertigo
0% p.a. for 7 months then 13.99% p.a.
0% p.a. for 22 months and then 21.49% p.a. (1.50% balance transfer fee)
$55 $0 in the first year
Defence Bank
Foundation Credit Card
3.99% p.a. for 6 months then 8.99% p.a.
3.99% p.a. for 6 months and then 8.99% p.a.
$45
CUA
Low Rate Credit Card
11.99% p.a.
0% p.a. for 20 months and then 21.74% p.a.
$49 $0 in the first year
NAB
Low Rate Card
12.99% p.a.
0% p.a. for 20 months and then 21.74% p.a. (2.00% balance transfer fee)
$59
Bank of Melbourne
Vertigo Platinum
12.99% p.a.
6.99% p.a. for 12 months and then 21.49% p.a.
$99
ANZ
Low Rate
12.49% p.a.
0% p.a. for 25 months and then 20.24% p.a. (1.50% balance transfer fee)
$58 $0 in the first year
Citi
Clear Credit Card
0.90% p.a. for 15 months then 14.99% p.a.
0.90% p.a. for 15 months and then 22.24% p.a.
$99
Westpac
Low Rate
13.74% p.a.
0% p.a. for 24 months and then 21.49% p.a. (1.00% balance transfer fee)
$59
St.George
Vertigo
0% p.a. for 7 months then 13.99% p.a.
0% p.a. for 22 months and then 21.49% p.a. (1.50% balance transfer fee)
$55 $0 in the first year
CUA
Low Rate Credit Card
11.99% p.a.
0% p.a. for 20 months and then 21.74% p.a.
$49 $0 in the first year
Defence Bank
Foundation Credit Card
3.99% p.a. for 6 months then 8.99% p.a.
3.99% p.a. for 6 months and then 8.99% p.a.
$45
Qantas Money
Qantas Premier Platinum
19.99% p.a.
0% p.a. for 18 months and then 21.99% p.a. (1.00% balance transfer fee)
$299 $199 in the first year
ANZ
Low Rate
12.49% p.a.
0% p.a. for 25 months and then 20.24% p.a. (1.50% balance transfer fee)
$58 $0 in the first year
St.George
Vertigo Platinum
12.99% p.a.
6.99% p.a. for 12 months and then 21.49% p.a.
$99
NAB
Low Rate Card
12.99% p.a.
0% p.a. for 20 months and then 21.74% p.a. (2.00% balance transfer fee)
$59
