Commonwealth Bank Business Awards Gold Credit Card – Rates and Fees

Commonwealth Bank Business Gold Awards Credit Card Find out more Go to site

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Earn up to 2 Awards points per $1 on your business spending.

The Commonwealth Bank Business Awards Gold credit card earns points for every eligible purchase you make and allows you to redeem them for a wide range of rewards including gift cards, merchandise, cash back, electronics and flights.

This business credit card can be an effective way to separate your business expenses from your personal ones, saving you time when it comes to lodging your Business Activity Statements (BAS) each quarter. It also offers automatic bank feeds for accounting software such as MYOB and Xero.

Product NameCommonwealth Bank Business Gold Awards Credit Card
Rewards ProgramCommonwealth Bank Awards Program
Balance transfer rate (p.a.)5.99% p.a. for 5 months
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Cash Advance Rate (21.74% p.a.)
Purchase rate (p.a.)20.74% p.a.
Annual fee$150 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 55 days on purchases
Cash advance rate (p.a.)21.74% p.a.
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$4,000
Max credit limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$50,000
Minimum Monthly Repayment2% or $25 whichever is greater
Card TypeAmerican Express/Mastercard
Late Payment Fee$20
Foreign Currency Conversion Fee (MC)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Foreign Currency Conversion Fee (AMEX)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3.5% of transaction value
Complimentary Travel InsuranceYes
Available To Temporary ResidentsNo
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
Min Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$4,000
Max Credit Limit
This credit limit may not be issued to you immediately on application. This is the maximum credit limit for this card which must be applied for or offered to you after you are approved and have already opened the account.
$50,000
Annual Fee$150 p.a.
Minimum Repayment2% or $25 whichever is greater
Late Payment Fee$20
Over Limit Fee$10
Cash Advance FeeOver-the-counter: $2.50 or 1.5% of cash advance amount, ATM: 1.5% of cash advance amount
Overseas Cash Advance Fee$4.00 or 1.5% of cash advance amount
Overseas Emergency Replacement$20
Overseas ATM Balance check$1.25
Foreign Currency Conversion Fee (MC)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Foreign Currency Conversion Fee (AMEX)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3.5% of transaction value
Gambling Transactions AllowedYes
Gambling Transactions Interest RateCash Advance Rate
Additional Cardholder Fee$75 p.a.
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes

Pros

  • Earn up to 2 Awards points for every dollar spent on your CommBank Business Awards American Express® Card.
  • Receive up to 55 days interest-free on purchases.

Cons

  • There is a $75 annual fee per additional cardholder.
Product NameCommonwealth Bank Business Gold Awards Credit Card
Table ImageCommonwealth Bank Business Gold Awards Credit Card
Rewards Points per $ spent
0.5
1
Rewards ProgramCommonwealth Bank Awards Program
Annual fee$150 p.a.
Balance transfer rate (p.a.)5.99% p.a. for 5 months
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Cash Advance Rate (21.74% p.a.)
Purchase rate (p.a.)20.74% p.a.
Cash advance rate (p.a.)21.74% p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 55 days on purchases
Card TypeAmerican Express/Mastercard
Foreign Currency Conversion Fee
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You'll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3%
3.5%
of transaction value
Go to site More info

Commonwealth Business Awards Gold credit card review

The CommBank Business Awards Gold credit card also offers the ability to earn rewards points on your business transactions with both a Mastercard and an American Express card. With your Gold American Express, you earn between 0.5 and 2 points per $1 spent, while the Gold Mastercard offers 1 point per $1 spent.

Both of these cards are linked to the same business account to help you better manage your business finances and keep all of your business expenses in one convenient location. This is a credit card package intended for business use but is still a personal liability account, which means the primary account holder is solely responsible for it. This structure makes it suitable for small businesses, including sole traders and partnerships.

Benefits of Commonwealth Business Awards Gold credit card

  • Points. With the CommBank Business Awards Gold American Express card, you earn 2 points per $1 spent overseas and at supermarkets, department stores and petrol stations in Australia. On other eligible purchases, the Amex card earns 0.5 points per $1 spent. The Gold Mastercard earns you 1 point per $1 spent on all eligible purchases. With this account, you can earn up to 150,000 points per year.
  • Rewards. You can redeem your CommBank Awards points for a variety of rewards including travel bookings made through Flight Centre, gift cards and merchandise. If you're a member of the Qantas Frequent Flyer program, you can opt to earn Qantas Points by enrolling in the Qantas Frequent Flyer Direct program. There is an annual fee for opting in to this program. You can also transfer Awards points to your Virgin Velocity Frequent Flyer account. Note that minimum transfer limits apply for this option.
  • Add your business name to the card. This credit card allows you to add your business name underneath the primary cardholder name, which may simplify claiming and accounting processes for purchases made under the business.
  • Interest-free days. You will receive up to 55 days interest-free on purchases when you pay your balance in full by the due date on each statement.
  • Insurance covers. With this card, you can get international travel insurance included when you activate your cover in NetBank. It also offers unauthorised transaction insurance cover and transit accident insurance. Terms and conditions apply, so refer to the CommBank Credit Card insurances booklet on the CommBank website for more information.

Commonwealth Bank Business Awards Gold credit card features

With the combination of two credit cards into one account, you can enjoy the features that come with both the American Express and Mastercard.

  • Annual fee. You will be charged an annual fee of $150 so long as this account is open.
  • Additional cardholders. There is a $75 annual fee for each additional cardholder you add to this account.
  • Credit limit. This card offers credit limits between $4,000 and $50,000. Your individual limit will subject to CommBank's lending criteria and approval.
  • Cash advance. The cash obtained from direct withdrawals will be charged an interest rate of 21.74% p.a. A cash advance fee will also apply. This fee varies depending on how and where the cash advance transaction is made. Refer to the CommBank Personal Liability Business Credit Card fees and charges booklet available on the CommBank website for more information.
  • Late payment. Any payment made past the statement due date is subject to a $20 fee.
  • Lost card charge. To replace a lost or stolen card, you will have to pay $20.
  • International transactions. If you use the CommBank Business Awards Gold American Express to make purchases overseas, you'll pay a fee worth 3.5% of the purchase amount. With the Business Awards Gold Mastercard, you'll pay a fee worth 3%. Note that this fee also applies for purchases made in Australian dollars with an overseas connection (such as online retailers).

How to apply for the Commonwealth Bank Business Awards Gold credit card

Eligibility criteria

Before filling out an application for this card, check that you and your business meet the following eligibility criteria:

  • Age. You and any additional cardholder must be at least 18 years of age.
  • Residency. Only permanent residents and citizens of Australia will be considered.
  • Title. You must be the business owner, director or partner with the authority to apply for this card on the behalf of the business.
  • Business. You must be able to provide the business name and a valid Australian Business Number (ABN).

Required documents

If you meet these criteria, click the "Go to site" button to be re-directed to a secure application page. Have the following documentation ready to enable you to fill out the application quickly:

  • Personal. The personal details of you and any additional cardholder will be required, including contact information.
  • Financial. Your personal finances will need to be disclosed, including assets and liabilities. Those of the business also must be provided. This should include all other accounts, their issuing institution and purpose. Make sure to have information regarding ongoing debts and credit limits.

This credit card package offers a range of features to cater to most of your business needs. Think about liability and how much you want to take on personally when comparing this business rewards card with others.

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8 Responses

  1. Default Gravatar
    rayJune 8, 2017

    What is the rate in converting the Commonwealth Business Reward Gold points to QQF?

    • Default Gravatar
      JonathanJune 8, 2017

      Hi Ray!

      Thanks for the comment.

      1 Qantas Frequent Flyer point = Gold 2.5 CommBank Awards points

      Further information on the Qantas Frequent Flyer program including the terms and conditions of the program are available on their website.

      Hope this helps.

      Cheers,
      Jonathan

  2. Default Gravatar
    RubenMarch 24, 2017

    Are payments made to the ATO using MasterCard eligible for reward points?

    • Staff
      MayMarch 24, 2017Staff

      Hi Ruben,

      Thank you for your inquiry.

      If you are pertaining to using the CBA Business Gold credit card to pay for ATO, yes, you’d earn rewards points for that transaction.

      Cheers,
      May

  3. Default Gravatar
    PeterOctober 7, 2016

    on gold cba cards travel insurance..with pre existing medical is there a :surcharge : on travel to Canada and Alaska

    • Staff
      MayNovember 4, 2016Staff

      Hi Peter,

      Thank you for your inquiry.

      In the CBA’s complimentary travel insurance T&Cs, it states that you’ll need to apply for an upgraded policy if you wish to receive medical cover when you are aged 79 or have a pre-existing medical condition. You will be unable to receive cover if:

      - You do not apply for cover of that pre-existing medical condition
      - You apply for cover of that pre-existing medical condition and AGA does not agree to provide cover for the condition
      - AGA agrees to provide cover for the pre-existing medical condition and you do not pay the relevant additional premium

      If you are 79 years of age or under and have a pre-existing medical condition, you can apply for this additional cover online or over the phone.

      You’d also be best to contact AGA directly on 1800 837 177 to verify how much will be the cost to upgrade.

      Cheers,
      May

  4. Default Gravatar
    steveJuly 24, 2016

    do I get points when i pay the ATO for BAS? via CBA amex or mastercard

    • Staff
      MayJuly 26, 2016Staff

      Hi Steve,

      Thank you for your question.

      Yes, you will earn points when you use your Commonwealth Bank Business Awards Gold Credit Card to pay for your ATO bills. The point equivalents are:

      Amex: Up to 2 points per $1
      MasterCard:
      Up to 1 point per $1

      Please refer to this page for further information about credit cards that earn points while paying for tax bills.

      Hope this helps.

      Cheers,
      May

Credit Cards Comparison

Rates last updated December 14th, 2017
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
NAB Premium Card - Exclusive Offer
19.74% p.a.
0% p.a. for 25 months
$90 p.a.
Exclusive to finder.com.au, enjoy a no BT fee, 0% balance transfer offer for 25 months and seven complimentary insurance covers.
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12.74% p.a.
0% p.a. for 24 months
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers complimentary travel insurance, complimentary purchase insurance and access to a 24/7 personal concierge service.
Woolworths Everyday Platinum Credit Card
19.99% p.a.
0% p.a. for 14 months
$0 p.a. annual fee for the first year ($49 p.a. thereafter)
Receive a $50 eGift Card when you meet the offer criteria, a 0% p.a. for 14 month balance transfer offer and a $0 first year annual fee.
Virgin Australia Velocity Flyer Card - Bonus Points Offer
20.74% p.a.
0% p.a. for 18 months
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Earn up to 60,000 bonus Velocity Points in the first 3 months on eligible spend and enjoy a discounted annual fee of $64 for the first year.

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