CommBank Business Platinum Awards Credit Card

Enjoy up to 80,000 bonus Awards points, complimentary travel insurance, plus an unsecured limit of up to $50,000 with the Business Platinum Awards card.

When you apply for a new CommBank Business Platinum Awards credit card and get approved by 30 September 2021, you can collect 60,000 bonus CommBank Awards points when you spend at least $4,000 on eligible purchases within the first 90 days. You’ll also earn another 20,000 bonus Awards points when you keep the card open for more than 12 months.

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80,000

Bonus points

20.74% p.a.

Purchase rate

1

Reward point

Per $ spent

$300 p.a.

Annual fee

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Details

Product NameCommBank Business Platinum 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$300
Interest-free periodUp to 55 days on purchases
Cash advance rate21.74% p.a.
Min credit limit$6,000
Max credit limit$50,000
Card typeMastercard
Foreign currency conversion fee3%
Available to temporary residentsYes - Conditions apply
Joint applicationNo

Pros

  • Up to 80,000 bonus Awards points
  • 1 Awards point per $1 spent on business purchases
  • Included travel insurance, extended warranty and purchase security covers

Cons

  • $75 annual fee per additional cardholder
  • Points are capped at 300,000 per year
Rewards programCommonwealth Bank Awards Program
Bonus points80,000
Rewards points per $ spent1
Rewards points cap300,000
Annual fee$300
Minimum monthly repayment2% of the closing balance or $25, whichever is greater
Late payment fee$20
Foreign currency conversion fee3%
Cash advance fee1.5% or $2.50, whichever is greater
Overseas cash advance fee1.5% or $4, whichever is greater
Additional cardholder fee$75
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Review by


Sally McMullen is a creative content producer at Finder. Sally has written about credit cards for almost 5 years, authoring almost 900 articles on Finder alone. She has also been published in Yahoo Finance, Dynamic Business, Financy and Mamamia, as well as Music Feeds and Rolling Stone. Sally has a Bachelor of Communication and Media Studies majoring in Journalism (Hons) from the University of Wollongong.

Expert review

The Commonwealth Bank Business Platinum Awards card is linked with the CommBank Awards program and offers flexibility when redeeming rewards, but you should make sure that the annual Awards cap doesn’t limit your points potential.

Like most business cards, you can link additional cardholders to the account and take advantage of simplified account reporting. Plus, with credit limit options ranging from $6,000 to $50,000, you could use this card to help free up cash flow for your small or medium business.

How to apply

You can apply for the Business Platinum Awards credit card online. You'll need to meet the eligibility criteria and have the necessary documents to complete the application form.

Eligibility criteria

  • New cardholders. You must apply as a new cardholder to become eligible for the bonus points offer and you cannot hold or have held any CommBank Awards card in the previous 12 months.
  • Eligible employee. You must be a business owner, director or partner who holds a valid Australian Business Number (ABN).

Card benefits

  • Up to 80,000 bonus Awards points. When you apply as a new cardholder, get approved by 30 September 2021 and spend at least $4,000 within the first 90 days, you will receive 60,000 bonus CommBank Awards Points. Additionally, you will receive another 20,000 bonus Awards points when your card remains open after 12 months.
  • Earn rewards. Earn 1 Awards point per $1 spent on eligible purchases, up to 300,000 points per year.

Rates & fees

  • Annual fee. This credit card charges an annual fee of $300.
  • Interest rate on purchases. Your purchases are charged at an interest rate of 20.74% p.a. (variable).

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14 Comments

    Default Gravatar
    Jon
    October 8, 2016

    Dear CBA,

    1) Does a Business Awards Platinum Card can Business Taxes be paid to the ATO?

    2) Is there any cap on the number of points earned?

    3) Can the points earned be exchanged for Qantas FF Points and if so, at what rate of exchange?

    Thank you

      Avatarfinder Customer Care
      May
      October 11, 2016

      Hi Jon,

      Thank you for your questions. Just to confirm, though, you’ve come through to Finder. We are an Australian financial comparison website and general information service, not actually CBA.

      1) Does a Business Awards Platinum Card can Business Taxes be paid to the ATO?

      Yes, with Commonwealth Bank Business Awards Platinum Credit Card, you can earn points for ATO payments. The equivalents are Amex: Up to 3 points per $1 and MasterCard: Up to 1 point per $1

      If you wish, read our guide about credit cards and tax payments to learn more about which credit cards can help you earn points when paying taxes.

      2) Is there any cap on the number of points earned?

      For this card, the maximum number of points that can be accumulated per year is 300,000 points.

      3) Can the points earned be exchanged for Qantas FF Points and if so, at what rate of exchange?

      Yes. Currently, the conversion rate is 2 points:1 Qantas Frequent Flyer point for Mastercard, and 2.5:1 Qantas Frequent Flyer point when using the Amex card.

      Hope this has answered your questions.

      Cheers,
      May

    Default Gravatar
    Coffeeboy
    August 8, 2016

    Can you confirm that payments made to ATO with Comm Bank Business Award Credit Card are not excluded from earning reward points, if so is the rate 3 points per $ using Amex. I have tried to get answer an answer from Comm Bank but given up as no one seems to know? The terms and conditions clearly states ” excluded are payments made to ATO UNLESS made using a Business Awards card.

      Default Gravatar
      Chester
      August 8, 2016

      Hello Cofeeboy,

      Thanks for your contacting us in regards to Comm Bank Business Award Credit Card reward points enquiry.

      As stated on their website that Points are earned on eligible transactions (most purchases, but not, for example, BPAY transactions, cash advances, payments to the Australian Taxation Office unless made using a Business Awards card, or balance transfers). I have also sent you an email for you to be able to view the information I have provided.

      I hope I was able to answer your question.

      Cheers!
      Chester

    Default Gravatar
    Nick
    August 7, 2016

    Do you earn points for ATO transactions on this card ??

      Avatarfinder Customer Care
      May
      August 7, 2016

      Hi Nick,

      Thanks for you question.

      Yes, with Commonwealth Bank Business Awards Platinum Credit Card, you can earn points for ATO payments.

      The equivalents are Amex: Up to 3 points per $1 and MasterCard: Up to 1 point per $1.

      Check out our guide about earning points when paying taxes if you want to know some other credit cards that let you earn points for paying tax bills.

      I hope this has helped.

      Cheers,
      May

    Default Gravatar
    Erica
    August 3, 2016

    Can the Amex card be used for entry into the Amex lounge at Sydney Airport?

      Avatarfinder Customer Care
      Dee
      August 4, 2016

      Hi Erica,

      Thanks for your question.

      If you are referring to the Commonwealth Bank Business Awards Platinum credit card, unfortunately, it doesn’t come with complimentary airport lounge access.

      You can check these credit cards that come with free airport lounge access.

      Cheers,
      Anndy

    Default Gravatar
    matt
    January 14, 2015

    What is the changeover rate from the points you acquire to qantas FF program with the Commonwealth Bank Business Awards Platinum credit card. Is it 1:1 ?

      Avatarfinder Customer Care
      Jonathan
      January 15, 2015

      Hi Matt,

      Thanks for your question!

      For the changeover/ conversion rate it is currently 2 points : 1 Qantas Frequent Flyer point for Mastercard, and 2.5 : 1 Qantas Frequent Flyer point when using the Amex card.

      I hope this helps!

      Cheers,

      Jonathan

      Default Gravatar
      Kaps
      October 4, 2016

      On the Business Platinum Card the earn max is 300,000 points. If someone switches to Qantas FF Direct earn during the middle of the year say in August or so, does the Qantas / points earn rate resets that time?

      Avatarfinder Customer Care
      May
      October 5, 2016

      Hi Kaps,

      Thank you for your question.

      No, it does not matter when you have switched to the Qantas FF Direct program. According to the CommBank’s Award Program, the calculation of the maximum number of Awards points (say for Business Platinum Card is 300,000 points per year) that you may earn is based on eligible transactions shown on your card account statements in the period commencing with the statement issued each January (or the first statement issued if you opened your card account in the preceding 12 months) and ending with the statement issued the following December.

      I have sent you the link to the PDS of the CBA awards program for your reference.

      Cheers,
      May

      Default Gravatar
      kaps
      October 5, 2016

      Is there any business card that earns points more than 300,000 points?
      If someone has more than 1 business card with CBA , will they both earn points to their individual limits??

      Avatarfinder Customer Care
      May
      October 5, 2016

      Hi Kaps,

      Thanks for getting back.

      With CBA, their business credit cards have a maximum limit of 300,000 awards points per year. On the other hand, the personal credit cards, like the Diamond Awards card, with a cap per year of 1,000,000 points. If you have two separate cards, yes, they will both earn points to their individual limit.

      You may also want to check business credit cards to find more deals and offers.

      Cheers,
      May

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