Commonwealth Bank Business Awards Gold Credit Card – Rates and Fees

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

No longer offered in the market

The Commonwealth Bank Business Awards Gold credit card is no longer available for new applications. However, we've kept the information online for the benefit of existing customers and for those who are interested. You can compare the current range of Commonwealth Bank credit cards here.

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.

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).

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.

Back to top
Was this content helpful to you? No  Yes

Related Posts

Credit Card Offers

Important Information*
Citi Clear Platinum Credit Card

Interest rate

12.99

Annual fee

0*

*$99 p.a. after first year

Westpac Altitude Platinum Card - Qantas

Interest rate

20.24

Annual fee

50*

*$200 p.a. after first year

ANZ Low Rate

Interest rate

12.49

Annual fee

58

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Privacy & Cookies Policy and Terms of Use, Disclaimer & Privacy Policy.

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?

    • finder Customer Care
      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

    • finder Customer Care
      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

    • finder Customer Care
      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

Ask a question
Go to site