CommBank Ultimate Awards Credit Card with Qantas Points

Offers 70,000 bonus Qantas Points and uncapped points on your eligible spending. But you’ll need to spend at least $2,500 a month to waive the monthly fee.

The CommBank Ultimate Awards Credit Card gives you a way to earn up to 1.2 Qantas Points per $1 on eligible spending. Right now, it offers 70,000 bonus Qantas Points when you apply by 28 February 2022 and spend $5,000 in the first 90 days. On top of that, it comes with included travel insurance, no foreign transaction fees and paid access to over 1,000 airport lounges.

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70,000

Bonus points

20.24% p.a.

Purchase rate

0.8

Reward points

Per $ spent

$450 p.a.

Annual fee

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Details

Product NameCommBank Ultimate Awards Credit Card with Qantas Points
Rewards programQantas Frequent Flyer
Balance transfer rate5.99% p.a. for 5 months
Balance transfer revert rateCash Advance Rate (21.24% p.a.)
Purchase rate20.24% p.a.
Annual fee$450
Interest-free periodUp to 55 days on purchases
Cash advance rate21.24% p.a.
Min credit limit$6,000
Card typeMastercard
Foreign currency conversion fee0%
Available to temporary residentsYes - Conditions apply
Joint applicationNo

Pros

  • 70,000 bonus Qantas Points
  • 0% international transaction fees
  • Earn up to 1.2 Qantas Points for every $1 spent on eligible transactions made online and overseas
  • LoungeKey membership gives access to over 1,000 airport lounges when you pay for entry with this card

Cons

  • The accumulated $35 monthly fee adds up to a high annual fee of $450 if you don’t meet the fee waiver requirements, plus a $30 Qantas opt-in fee
  • A lower earn rate of 0.2 Qantas Points per $1 applies for spending above $10,000 per statement period
Rewards programQantas Frequent Flyer
Bonus points70,000
Rewards points per $ spent0.8
Annual fee$450
Minimum monthly repayment2% of the closing balance or $25, whichever is greater
Late payment fee$20
Foreign currency conversion fee0%
Cash advance fee3% or $3, whichever is greater
Overseas cash advance fee$3 or 3% of the transaction amount, whichever is greater
Additional cardholder fee$0
Number of additional cardholders1

Review by


Amy Bradney-George has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. Her work has also appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University.

Expert review

The CommBank Ultimate Awards Credit Card with Qantas Points offers its highest earn rate of 1.2 Qantas Points per $1 for eligible international transactions made online and in-store (when international travel opens up). In Australia, this card earns 0.8 Qantas Points per $1 for spending at major supermarkets, department stores and petrol stations and 0.4 Qantas Points per $1 for all other eligible spending. You’ll get these three earn rates for the first $10,000 spent in a statement period – and eligible spending above that earns 0.2 Qantas Points per $1 for the rest of that statement period.

How to apply

You can apply for the CommBank Ultimate Awards Credit Card with Qantas Points online by filling in a secure application form. To get started, make sure you meet the following eligibility requirements and have all the information you need to complete the application.

Eligibility criteria

  • New cardholders. In order to be eligible for any bonus points, you must apply as a new cardholder. This means you cannot hold or have held any Awards card types in the last 12 months.
  • Residency. This card is available to permanent and temporary residents as long as you have the legal right to work in Australia. You may be asked to provide your visa details if you're not a permanent resident.

Card benefits

  • 70,000 bonus Qantas Points. This card offers 70,000 bonus Qantas Points when you apply by 28 February 2022 and spend $5,000 in the first 90 days from card approval. To give you an idea of the value, that's enough for a return business class flight from Brisbane to Adelaide or Sydney to Hamilton Island (both 55,200 Qantas Points).
  • Qantas Points per $1 spent. For a $30 yearly fee, you can choose to earn Qantas Points for your eligible spending (instead of CommBank Awards), with the following rates:
    • 1.2 Qantas Points per $1 for eligible international spending online or in-store, up to $10,000 per statement period.
    • 0.8 Qantas Points per $1 for eligible spending with major supermarkets, department stores and petrol stations in Australia, up to $10,000 per statement period.
    • 0.4 Qantas Points per $1 for all other eligible spending, up to $10,000 per statement period.
    • 0.2 Qantas Points per $1 for eligible spending above $10,000 in each statement period.

Rates & fees

  • Monthly fee. This card charges a $35 monthly fee. This fee will be waived if you spend at least $2,500 on your Ultimate Awards credit card during the statement period and choose to get online statements.
  • Qantas Points opt-in fee. A yearly $30 fee applies when you choose to earn Qantas Points instead of CommBank Awards Points with this card.

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