Commonwealth Bank Platinum Awards Credit Card
20.24% p.a.
5.99% p.a. for 5 months and then 21.24% p.a.
$249
Commonwealth Awards
Commonwealth Bank Platinum Awards Credit Card
20.24% p.a.
5.99% p.a. for 5 months and then 21.24% p.a.
$249
Commonwealth Awards
Commonwealth Bank Platinum Awards Credit Card
20.24% p.a.
5.99% p.a. for 5 months and then 21.24% p.a.
$249
Commonwealth Awards
Mozo Review Commonwealth Bank Platinum Awards Credit Card Review
Last updated: 9 May 2019.
What's hot:
2019 Mozo Experts Choice Award
Earn 1 Award point for every $1 spent
100,000 Bonus Awards Points when you apply by 31 July and spend $4,000 by 31 October 2019
What's not:
$249 annual fee
Points cap of up to 150,000 per year (or 120,000 with the Qantas Frequent Flyer direct earn program)
Mozo snapshot:
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.
Key features:
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.
And, when you apply for a new CommBank Platinum Awards credit card by 31 July and spend $4,000 on eligible purchases with your new card by 31 October 2019, you can also score a sweet 100,000 bonus points to plump up your stash!
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.
Who it's good for:
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.
Any catches?
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.
Rewards program details
Rates and fees information correct as at 26 May 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.What your points get you
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
Points earning
1 point per dollar on Mastercard, up to 150000 points per year
Rewards scheme
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 or through Flight Centre vouchers.
Special offers
Receive 100,000 bonus awards points when you apply by 31 July 2019, are approved and spend $4,000 by 31 October 2019.
Value of rewards points
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?
How do we calculate the rewards?
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.
Rate and fee details
Rates
-
20.24% p.a.
-
none
-
5.99% p.a. for 5 months and then 21.24% p.a.
-
yes
-
21.24% p.a.
-
55
Fees
-
$249.00
-
none
-
none
-
none
-
$20.00
-
2%, Min $2.50, Max $150
-
0%
-
$0.00
-
$0.00
-
$10.00
Features
-
$25.00
-
2.0
-
1
-
none
Payment options
Apple Pay, Google Pay, Samsung Pay, Garmin, Fitbit
Rewards privileges
Concierge,
Travel Insurance,
Extended Warranty,
Purchase Protection,
Guaranteed Pricing
Customer Reviews
How are Commonwealth Bank credit cards rated by the Mozo community?
Latest reviews of Commonwealth Bank Platinum Awards Credit Card
- Overall10/10
Great customer service
You are able to go in any time to discuss any situation that arises with your banking.
Read full review
You are able to go in any time to discuss any situation that arises with your banking.
Price9/10Features9/10Customer service10/10Convenience10/10Trust10/10Less
Michael | Queensland
reviewed 7 months ago
- Overall10/10
Reliable
I have been with CommBank for a while now and I don't have any complaints. They are reliable.
Read full review
I have been with CommBank for a while now and I don't have any complaints. They are reliable.
Price10/10Features10/10Customer service10/10Convenience10/10Trust10/10Less
Asha | Victoria
reviewed 7 months ago
- Overall10/10
Rewards and convenience in one
Rewards points are easy to get, lots of choices when you redeem, Amex and Mastercard operate the...
Read full review
Rewards points are easy to get, lots of choices when you redeem, Amex and Mastercard operate the one account, never pay interest as balance is paid off by due date, totally convenient and hassle free.
Price-1/10Features10/10Customer service10/10Convenience10/10Trust10/10Less
Jane | South Australia
reviewed 9 months ago
- Overall8/10
It’s pretty good
It’s a pretty good bank with good customer service.
Read full review
It’s a pretty good bank with good customer service.
Price5/10Features5/10Customer service10/10Convenience10/10Trust10/10Less
Zainab | Victoria
reviewed about 1 year ago
- Overall10/10
Great
I have always banked with Commonwealth and never had a problem in 50 years
Read full review
I have always banked with Commonwealth and never had a problem in 50 years
Price-1/10Features-1/10Customer service10/10Convenience10/10Trust10/10Less
Fred | Queensland
reviewed over 1 year ago
About Commonwealth Bank
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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