Commonwealth Bank Gold Awards Card Review |

Commonwealth Bank Gold Awards Card – Rates and Fees

The CommBank Gold Awards card was discontinued in March 2018.

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No longer offered in the market

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

Compare current CommBank credit card offers

Data updated regularly
Name Product Bonus points Rewards program Rewards points per $ spent Purchase rate Annual fee
CommBank Low Rate Credit Card
0% p.a. for 15 months, reverts to 13.24% p.a.
Save with a 0% p.a. interest rate on purchases for 15 months.
CommBank Low Fee Credit Card
19.74% p.a.
$0 annual fee for the first year ($29 p.a. thereafter)
Receive $150 cashback and a continued annual fee waiver if you spend at least $1,000 in the previous year.
CommBank Low Fee Gold Credit Card
19.74% p.a.
$0 annual fee for the first year ($89 p.a. thereafter)
Save with an ongoing annual fee waiver when you meet the spend requirement. Plus, a $200 cashback.
CommBank Low Rate Gold Credit Card
13.24% p.a.
Keep interest costs low with a 13.24% p.a. purchase interest rate. Plus, access to complimentary insurance covers.
CommBank Platinum Awards Credit Card
Commonwealth Bank Awards Program
20.24% p.a.
Collect 80,000 bonus Awards Points, plus, 1 point per $1 spent up to 150,000 points per year.
CommBank Awards Credit Card
Commonwealth Bank Awards Program
20.24% p.a.
Earn 1 Awards point per $1 spent up to 50,000 points per year. Plus, access to Priceless Cities.
CommBank Diamond Awards Credit Card
Commonwealth Bank Awards Program
20.24% p.a.
Receive 100,000 bonus Awards points when you spend $5,000 on eligible purchases within the first 90 days. Plus, 1.25 points per $1 spent.
CommBank Essentials Credit Card
9.9% p.a.
Save with a low 9.9% p.a. interest rate on purchases. Plus, add an additional cardholder for $0.
CommBank Ultimate Awards Credit Card
Commonwealth Bank Awards Program
20.24% p.a.
Enjoy 100,000 bonus Awards points when you spend $5,000 in the first 90 days, 0% foreign transaction fees and access to over 1,000 airport lounges.
CommBank Neo card
Borrow up to $3,000 with no interest charges - just a monthly fee that depends on your credit limit. Plus, 0% foreign transaction fees.

Compare up to 4 providers

The Commonwealth Bank Awards Program is one of the largest in Australia, offering flexibility that makes it easy to redeem your rewards points. Use your points to pay for your travel at Flight Centre, or spend them in-person when shopping at Myer. You can also log in to the CommBank Awards website via NetBank and choose from over 1,000 reward options.

Commonwealth Bank Gold Awards Credit Card review

Maximise your rewards earning potential with both a Mastercard and an American Express card linked to your CommBank Gold Awards account. Each $1 spent on eligible purchases made with your Mastercard is 1 more point towards your account. The American Express can double the value by earning 2 points per dollar spent overseas, at supermarkets, department stores and petrol stations in Australia, and 0.5 points per dollar everywhere else.

As well as rewards, the CommBank Gold Awards Card offers included travel insurance, purchase security insurance and extended warranty on purchases. You will also receive a travel money card with $0 issue fee and access your cash while overseas with 13 foreign currencies to choose from.

Benefits of the Commonwealth Bank Gold Awards Card

The Commonwealth Bank Gold Awards card offers benefits for travellers and savers:

  • Annual fee. This card charges an annual fee of $119.
  • Points earning. When you shop with your CommBank Mastercard, you will receive 1 point for every $1 spent. Earn up to 2 points per $1 spent with your Commonwealth Bank American Express card overseas and at supermarkets, department stores and petrol stations in Australia. Other eligible spending with the Amex card will earn 0.5 points per $1. Points are capped at 75,000 per year, or 60,000 per year if you opt into Qantas Frequent Flyer Direct. If you require a more generous points cap, then you may like to consider the Commonwealth Bank Diamond Awards credit card.
  • Rewards redemption. You can redeem your CommBank Awards points for products at Myer, flights and travel rewards with Flight Centre or for gadgets, gift cards, homewares and more via the Awards store through your NetBank account.
  • Balance transfer offer. Consolidate your personal debt by moving the balances of your other Australian non-Commonwealth credit cards to this one and take advantage of a reduced interest rate of 5.99% p.a. for 5 months. At the end of the promotional period, any remaining balances will revert to the standard variable rate for cash advances, currently at 21.24% p.a.
  • Included insurance covers. Included international travel insurance is available with this card, along with extended warranty and purchase security insurance.
  • Lock, block and limit. This security feature allows you to pause international online and in-store payments, lock your credit card temporarily if you have misplaced it, block ATM withdrawals/cash advances and limit how much you can spend per transaction.

Features of the Commonwealth Bank Gold Awards Credit Card

  • Annual fee. You will be charged $119 annually for using this card plus $10 for each additional card.
  • Cash advances. You can use your credit card to withdraw cash from an ATM but will be charged $2.50 or 2.00% of the transaction amount (whichever is greater). The same fee applies whether you use a Commonwealth Bank ATM or an ATM in another network or overseas (non-CommBank ATMs may also charge their own usage fees). Any cash advances will attract a 21.24% p.a. interest rate.
  • Interest-free days. Make a purchase and pay no interest for up to 55 days when you pay your balance in full. The standard purchase rate on this card is 20.24% p.a.
  • Credit limit. There is a minimum credit limit of $4,000, with the maximum depending on your income and financial circumstances.

The Commonwealth Bank Gold Awards Card offers many ways for cardholders to get extra value from their credit card. As this isn't the only rewards credit card on the market, though, it's important that applicants compare their options before applying.

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