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Commonwealth Bank Business Platinum Awards Credit Card

Sally McMullen
Sally McMullen

Enjoy an unsecured limit of up to $50,000, 100,000 bonus Awards Points and international travel insurance with the Business Platinum Awards card.

Earn points as you spend and manage your business cash flow with the Commonwealth Bank Business Platinum Awards card.

100,000

Bonus points

20.74% p.a.

Purchase rate

1

Reward point

Per $ spent (Visa/Mastercard)

$300 p.a.

Annual fee

Details

Product NameCommonwealth Bank Business Platinum Awards Credit Card
Balance transfer rate5.99% p.a. for 5 months
Balance Transfer Revert RateCash Advance Rate (21.74% p.a.)
Purchase rate (p.a.)20.74% p.a.
Annual fee$300 p.a.
Interest Free Period55 days
Cash Advance Rate21.74% p.a.
Minimum Credit Limit$6,000
Maximum Credit Limit$50,000
Card TypeMastercard
Foreign Currency Conversion Fee (Visa/Mastercard)3% of transaction value
Complimentary Travel InsuranceYes
Minimum Age18 years of age
Available to Temporary ResidentsYes - Conditions apply
Joint ApplicationNo

Pros

  • 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
Bonus Points100,000 bonus points
Rewards Points per $ spent (Visa/Mastercard)1
Rewards Points per $ Cap (Visa/Mastercard)300,000
Annual fee$300 p.a.
Minimum Monthly Repayment2% of the closing balance or $25, whichever is greater
Late Payment Fee$20
Foreign Currency Conversion Fee (Visa/Mastercard)3% of transaction value
Overseas Cash Advance Fee1.5% or $4, whichever is greater
Additional Cardholder Fee$75

Expert review

Sally McMullen

Review by

Sally McMullen is Finder's credit cards and frequent flyer editor by day and a music maven by night. Her byline can be spotted on Yahoo Finance, Dynamic Business, Financy and Mamamia as well as Music Feeds and Rolling Stone.

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

  • Eligible employee. You must be a business owner, director or partner who holds a valid Australian Business Number (ABN).
  • Credit history. This card is available to applicants who aren't currently bankrupt and have a good credit score.

Card benefits

  • 100,000 bonus points. When you apply as a new cardholder by 29 February 2020 and spend at least $4,000 on eligible purchases within the first 90 days, you will receive 100,000 bonus CommBank Awards Points.
  • 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

  1. 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

    Reply
    • AvatarStaff
      May
      October 11, 2016

      Hi Jon,

      Thank you for your questions. Just to confirm, though, you’ve come through to finder.com.au 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

      Some other credit cards that let you earn points for paying tax bills are listed on this page.

      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 are 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

      Reply
  2. 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.

    Reply
    • 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

      Reply
  3. Default Gravatar
    Nick
    August 7, 2016

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

    Reply
    • AvatarStaff
      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

      If you want to know some other credit cards that let you earn points for paying tax bills, please feel free to visit this page.

      I hope this has helped.

      Cheers,
      May

      Reply
  4. Default Gravatar
    Erica
    August 3, 2016

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

    Reply
    • AvatarStaff
      Dee
      August 4, 2016

      Hi Erica,

      Thanks for your question.

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

      If you want to check credit cards with free airport lounge access, you can check this page.

      Cheers,
      Anndy

      Reply
  5. 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 ?

    Reply
    • AvatarStaff
      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

      Reply
    • 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?

      Reply
    • AvatarStaff
      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

      Reply
    • 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??

      Reply
    • AvatarStaff
      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, but for the personal credit cards like the Diamond Awards card, the cap per year is 1,000,000 points. If you have two separate cards, yes, they will both earn points to their individual limit.

      If you would like to compare other business credit cards with rewards, please click this link.

      Cheers,
      May

      Reply
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