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Commonwealth Bank Business Awards Credit Card

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Earn Awards Points per $1 spent and manage your business spending with the CommBank Business Awards card.

The Commonwealth Bank Business Awards credit card earns 1 CommBank Awards point per $1 spent, with rewards including gift cards, travel and frequent flyer points.

5.99% p.a.

Balance transfer rate

for 5 months

20.74% p.a.

Purchase rate

1

Reward point

Per $ spent

$100 p.a.

Annual fee

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Details

Product NameCommonwealth Bank Business Awards Credit Card
Rewards programCommonwealth Bank Awards Program
Balance transfer rate5.99% p.a. for 5 months
Balance transfer revert rateCash Advance Rate (21.74% p.a.)
Purchase rate20.74% p.a.
Annual fee$100
Interest-free period55 days
Cash advance rate21.74% p.a.
Min credit limit$500
Max credit limit$50,000
Card typeMastercard
Foreign currency conversion fee3%
Available to temporary residentsYes - Conditions apply
Joint applicationNo

Pros

  • Earn 1 Awards point per dollar spent on your CommBank Business Awards Credit Card.
  • This card comes with complimentary insurance covers.

Cons

  • There is $75 fee for any additional cardholders.
  • Points are capped at 60,000 per year.
Rewards programCommonwealth Bank Awards Program
Rewards points per $ spent1
Rewards points cap60,000
Annual fee$100
Minimum monthly repayment2% of the closing balance or $25, whichever is greater
Late payment fee$20
Foreign currency conversion fee3%
Overseas cash advance fee1.5% or $4, whichever is greater
Additional cardholder fee$75
Number of additional cardholders1

Expert review

Amy Bradney-George

Review by


Amy Bradney-George is the acting editor for credit cards and has more than 13 years’ experience writing about personal finance. She has bylines in publications including The Sydney Morning Herald, ABC News and The Equity Magazine. A passionate writer, she’s also acting editor for Finder X and senior writer for Finder Green. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University, and when she’s not writing she spends her time as an actress.

Expert review

The CommBank Business Awards is suited to small business owners who want to keep track of spending and earn rewards at the same time. It offers simple account management through CommBiz, NetBank or the CommBank app, as well as automatic data feeds for MYOB and Xero, which can help you stay on top of your business accounting tasks. It also earns 1 Awards point per $1 spent on eligible purchases, with a cap of 60,000 points per year. So if you spend more than $60,000 annually on your business, you may want to compare some other options.

How to apply

You can apply for the CommBank Business Awards credit card online by filling out a simple application form. As this is a personal liability credit card, you won't need to include financial information for your business. But you do need to make sure you meet the following eligibility criteria and have all the documents and details needed to complete the application.

Eligibility criteria

  • Residency and work status. You must have the right to work in Australia.
  • Age. You must be at least 18 years old to apply.

Card benefits

  • CommBank Awards points. This card earns 1 Awards point per $1 spent on eligible purchases, up to 60,000 points per year. Eligible purchases cover most everyday and business spending. Transactions that don't earn points include BPAY payments, cash advances, foreign currency purchases and account fees.
  • Reward options. The CommBank Awards program offers a wide range of ways to redeem points, with rewards including gift cards, cash back on your account and retail items. You can also convert Awards points into Velocity Points or redeem them instantly for travel bookings at Flight Centre and purchases at Myer.

Rates & fees

  • Annual fee. The CommBank Business Awards credit card charges an annual fee of $100.
  • Additional cardholders. If you want to share the account with someone else in your business, you can add 1 additional cardholder for a fee of $75 p.a. Note that you will be responsible for managing the account.

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6 Comments

  1. Default Gravatar
    ken
    November 6, 2018

    i pay roughly S150K per quarter on my business BAS and would like to take advantage of a points card solely for this purpose. Currently hold WBC cards so probably looking to take advantage of other banks NEW customer offers.

    Open to suggestions, but prefer not AMEX unless there is some compelling reason to use it I am not aware of.

    • Avatarfinder Customer Care
      John
      November 8, 2018

      Hi Ken,

      Thank you for reaching out to finder.

      You may click on this link to learn more about credit cards that earn points for ATO payments. Kindly review and compare your options on the table displaying the available providers. Once you have chosen a particular provider, you may then click on the “Go to site” button and you will be redirected to the provider’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.

      Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. Hope this helps!

      Cheers,
      Reggie

  2. Default Gravatar
    Wendy
    March 15, 2018

    You say that your business awards credit card makes it easier to separate personal and business transactions and saves time preparing BAS. How? You do not give any evidence.

    • Default Gravatar
      Nikki
      March 19, 2018

      Hi Wendy!

      Thanks for questions and for visiting finder – a leading comparison website and general information service built to give you advice on your buying decision needs.

      Yes, that is correct. The Commonwealth Bank Business Awards Credit Card lets you separate your business and personal expenses and save time preparing your Business Activity Statement (BAS).I understand that you are looking for information on how to do this. Since we don’t work directly for this bank, we don’t have this information on our website.

      Please note that we’re a product comparison website. We provide general information on products to assist you in your buying decision process hence we cannot recommend product/service that is rightfully fit for you. 

      We suggest contacting the bank directly as they will be able to assist you on how to go about this.

      Best Regards,

      Nikki

  3. Default Gravatar
    gary
    April 24, 2014

    I need a card for business unlimited Qantas point not amex please

    • Avatarfinder Customer Care
      Shirley
      April 30, 2014

      Hi Gary,

      Thanks for your question.

      Please see our page on business credit cards, when you click through to a review, if you scroll down and click ‘rewards program’ you can then see if the points expire or not.

      Cheers,
      Shirley

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