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.
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
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!
Good customer service.
Read full reviewGood customer service.
Platinum CC was the best CC I ever had. I have been in many places of the world and never had any problems.
Read full reviewPlatinum CC was the best CC I ever had. I have been in many places of the world and never had any problems.
Very costly.
Read full reviewTotal ripoff.
Read full reviewThe 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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CUA
Low Rate Credit Card
11.99% p.a.
0% p.a. for 13 months and then 21.74% p.a.
$49 $0 in the first year
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Qantas Money
Qantas Premier Platinum
19.99% p.a.
0% p.a. for 18 months and then 21.99% p.a.
$299 $199 in the first year
Qantas Frequent Flyer
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American Express
Qantas Discovery Card
20.74% p.a.
No current offer
$0
Qantas Frequent Flyer
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Bankwest
Breeze Mastercard
0% p.a. for 15 months then 12.99% p.a.
2.99% p.a. for 9 months and then 12.99% p.a. (0% balance transfer fee)
$79
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Citi
Rewards Credit Card
21.49% p.a.
0% p.a. for 26 months and then 22.24% p.a. (1.50% balance transfer fee)
$199 $0 in the first year
Citi Rewards Program
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American Express
Platinum Edge Credit Card
20.74% p.a.
No current offer
$195
Membership Rewards
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Bankwest
Breeze Platinum Mastercard
0% p.a. for 15 months then 12.99% p.a.
2.99% p.a. for 9 months and then 12.99% p.a. (0% balance transfer fee)
$99
Promoted
American Express
Qantas Discovery Card
Qantas Frequent Flyer
$0
No current offer
0.75 points uncapped
Promoted
Qantas Money
Qantas Premier Platinum
Qantas Frequent Flyer
$299 $199 in the first year
80,000
1 point up to $10,000/month, then
0.5 points uncapped
Promoted
American Express
Platinum Edge Credit Card
Membership Rewards
$195
No current offer
1 point uncapped
Promoted
Citi
Rewards Credit Card
Citi Rewards Program
$199 $0 in the first year
No current offer
1 point up to $10,000/month
Promoted
American Express
Explorer Credit Card
Membership Rewards
$395
50,000
2 points uncapped
Promoted
CUA
Platinum Credit Card
Life Rich Rewards
$149 $0 in the first year
No current offer
1 point up to 100,000 points/year
Promoted
American Express
Qantas Ultimate Card
Qantas Frequent Flyer
$450
55,000
1.25 points uncapped
Promoted
David Jones
American Express Card
Membership Rewards
$99
15,000
1 point uncapped
Promoted
CUA
Low Rate Credit Card
0% p.a. for 13 months and then 21.74% p.a.
11.99% p.a.
$49 $0 in the first year
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Bankwest
Breeze Mastercard
2.99% p.a. for 9 months and then 12.99% p.a. (0% balance transfer fee)
0% p.a. for 15 months then 12.99% p.a.
$79
Promoted
Qantas Money
Qantas Premier Platinum
0% p.a. for 18 months and then 21.99% p.a.
19.99% p.a.
$299 $199 in the first year
Qantas Frequent Flyer
Promoted
Bankwest
Zero Mastercard
2.99% p.a. for 9 months and then 17.99% p.a.
17.99% p.a.
$0
Promoted
CUA
Platinum Credit Card
0% p.a. for 13 months and then 21.74% p.a.
19.99% p.a.
$149 $0 in the first year
Life Rich Rewards
Promoted
Citi
Rewards Credit Card
0% p.a. for 26 months and then 22.24% p.a. (1.50% balance transfer fee)
21.49% p.a.
$199 $0 in the first year
Citi Rewards Program
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Bankwest
Breeze Platinum Mastercard
2.99% p.a. for 9 months and then 12.99% p.a. (0% balance transfer fee)
0% p.a. for 15 months then 12.99% p.a.
$99
Promoted
Bankwest
Zero Platinum Mastercard
2.99% p.a. for 9 months and then 17.99% p.a.
17.99% p.a.
$0
Promoted
CUA
Low Rate Credit Card
11.99% p.a.
0% p.a. for 13 months and then 21.74% p.a.
$49 $0 in the first year
Promoted
Bankwest
Breeze Mastercard
0% p.a. for 15 months then 12.99% p.a.
2.99% p.a. for 9 months and then 12.99% p.a. (0% balance transfer fee)
$79
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Credit Union SA
Education Community Credit Card
0% p.a. for 6 months then 9.99% p.a.
0% p.a. for 6 months and then 9.99% p.a.
$0
Promoted
Bendigo Bank
Low Rate Mastercard
0% p.a. for 15 months then 11.99% p.a.
No current offer
$45
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Credit Union SA
Visa Credit Card
10.49% p.a.
0% p.a. for 6 months and then 10.49% p.a.
$39
Promoted
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Low Rate Platinum Mastercard
11.99% p.a.
0% p.a. for 6 months and then 11.99% p.a.
$89
Promoted
CUA
Low Rate Credit Card
11.99% p.a.
0% p.a. for 13 months and then 21.74% p.a.
$49 $0 in the first year
Promoted
Qantas Money
Qantas Premier Platinum
19.99% p.a.
0% p.a. for 18 months and then 21.99% p.a.
$299 $199 in the first year
Promoted
Bankwest
Breeze Mastercard
0% p.a. for 15 months then 12.99% p.a.
2.99% p.a. for 9 months and then 12.99% p.a. (0% balance transfer fee)
$79
Promoted
Bankwest
Breeze Platinum Mastercard
0% p.a. for 15 months then 12.99% p.a.
2.99% p.a. for 9 months and then 12.99% p.a. (0% balance transfer fee)
$99
Promoted
CUA
Platinum Credit Card
19.99% p.a.
0% p.a. for 13 months and then 21.74% p.a.
$149 $0 in the first year
Promoted
Bankwest
Zero Platinum Mastercard
17.99% p.a.
2.99% p.a. for 9 months and then 17.99% p.a.
$0
Promoted
Bankwest
Zero Mastercard
17.99% p.a.
2.99% p.a. for 9 months and then 17.99% p.a.
$0