CommBank Platinum Awards Credit Card

Last updated: Jan 29, 2021

Enjoy 80,000 bonus Awards points and included insurance covers with the CommBank Platinum Awards Card.

You can use the Commonwealth Bank Platinum Awards credit card to earn Award points on your everyday spending. You can redeem your points for gift cards, travel through Flight Centre and merchandise from the Awards website. You can also transfer your Awards points to partnered frequent flyer programs including Qantas and Velocity.

When you apply by 29 April 2021 and spend at least $4,000 on eligible purchases within the first 90 days, you'll be rewarded with 80,000 bonus Awards points. Cardholders can also take advantage of platinum benefits such as included travel insurance and extended warranty cover.

80,000

Bonus points

20.24% p.a.

Purchase rate

Reward point

Per $ spent

$249 p.a.

Annual fee

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Details

Product Name	CommBank Platinum Awards Credit Card
Rewards program	Commonwealth Bank Awards Program
Balance transfer rate	5.99% p.a. for 5 months
Balance transfer revert rate	Cash Advance Rate (21.24% p.a.)
Purchase rate	20.24% p.a.
Annual fee	$249
Interest-free period	Up to 55 days on purchases
Cash advance rate	21.24% p.a.
Min credit limit	$6,000
Card type	Mastercard
Foreign currency conversion fee	3%

Available to temporary residents	Yes - Conditions apply
Joint application	No

Pros

80,000 bonus Awards Points offer
1 Awards point per $1 spent on everyday purchases
Included travel insurance, extended warranty and purchase security insurance covers

Cons

Variable interest rates on purchases and cash advances are relatively high
Points are capped at 150,000 per year

Rewards program	Commonwealth Bank Awards Program
Bonus points	80,000
Rewards points per $ spent	1
Rewards points cap	150,000

Annual fee	$249
Minimum monthly repayment	2% of the closing balance or $25, whichever is greater
Late payment fee	$20
Foreign currency conversion fee	3%
Cash advance fee	3% or $3, whichever is greater
Overseas cash advance fee	$3 or 3% of transaction value, whichever is greater
Additional cardholder fee	$10
Number of additional cardholders	1

Expert review

Review by

Amy Bradney-George

amy.bradney-george@finder.com

Amy Bradney-George has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. Her work has also appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University.

Expert review

The Commonwealth Bank Platinum Awards is one of CommBank’s premium rewards credit cards. This means that it offers a more competitive points earn rate but charges a higher annual fee than some other Awards cards.

It currently boasts an 80,000 bonus CommBank Awards Points offer. As well as retail rewards, gift cards and cashback, you can exchange 2 Platinum Awards points for 1 Velocity Point or 2.5 Platinum Awards points for 1 Qantas Point.

While it does offer travel insurance covers and a Qantas direct option, it does not offer airport lounge passes or waived foreign transaction fees, which could be of interest to frequent flyers.

How to apply

You can apply for the Commonwealth Bank Platinum Awards card online in around 30 minutes. Before you do, make sure you meet the eligibility criteria and have the necessary information to complete the application:

Eligibility criteria

New cardholders. To be eligible for the bonus points offer, you cannot hold or have held any CommBank Awards card in the previous 12 months.
Residency. You must be legally allowed to work in Australia. If you are not a permanent resident or citizen, you will need to provide your visa details.

Credit history. You must not be currently bankrupt. You can get your credit score and copy of your comprehensive credit report for free through Finder.
Age. You must be at least 18 years old to apply for a credit card.

Required documents

Personal information. Including your full name, current residential address, email address, contact phone numbers and date of birth.
Details about your income. Aim to provide as much detail as possible about your income, savings and assets such as property or shares.
Expenses and liabilities. You will need to provide information about any debts you have, as well as ongoing expenses like child support, rent, mortgage repayments or anything else that is considered a regular, essential cost.
Other credit cards. If you want to transfer a balance to a Commonwealth Bank credit card from your existing non-Commonwealth Bank credit card(s), store card(s) or charge card(s), you will need to provide the account details, including the card number, the amount you want to transfer and the name of the issuing financial institution.

Card benefits

80,000 bonus points offer. Apply by 29 April 2021 and you will earn 80,000 bonus CommBank Awards points when you spend at least $4,000 on your new card within the first 90 days. To give you an idea, you can exchange 80,000 Awards points for 40,000 Velocity Points or 32,000 Qantas Points. Please note that to receive the bonus points promotion, you cannot hold or have held a CommBank Awards card in the last 12 months.
Awards program. Earn 1 Awards point per $1 spent on eligible purchases, up to 150,000 points per year. You can also earn uncapped bonus points per $1 spent when you use your Platinum Awards credit card with any Commonwealth Bank bonus partners. As well as shopping, travel and entertainment redemption options, you can transfer CommBank Awards points to Velocity Frequent Flyer (2 Awards Points = 1 Velocity Point), Qantas Frequent Flyer (2.5 Awards Points = 1 Qantas Point) and other airline partners including Etihad Airways and Japan Airlines.

Qantas Frequent Flyer Direct. If you're a member of the Qantas Frequent Flyer program, you can opt to earn Qantas Points with this card by enrolling in the Qantas Frequent Flyer Direct program. The points you earn will then be automatically transferred to your Qantas Frequent Flyer membership account monthly. There is a $30 annual fee for opting in to this program.
Included insurance covers. This card offers overseas emergency medical assistance and hospital expenses insurance, cover for travel delays, cancellation cover, personal liability cover and rental vehicle excess cover. You can also get purchase security insurance and extended warranty insurance for eligible purchases made using this card. Eligibility and activation requirements apply.
Account control. You can use the CommBank app or the online banking platform to instantly lock, block or limit how you use your card. You can lock international in-store and online payments, block cash advances and set a maximum dollar amount per transaction. Plus, if you've lost your card, you can use the Lock, Block, Limit feature to lock your card temporarily while you look for it.
Mobile payment compatibility. You can use your eligible smartphone or smartwatch to tap and pay when you link your account with Apple Pay, Samsung Pay and Google Pay. You can also use your fitness tracker to make contactless payments if you link your card with Garmin Pay and Fitbit Pay.

Rates & fees

Annual fee. This card charges an annual fee of $249.
Purchase rate. The variable 20.24% p.a. interest rate applies to purchases.

Balance transfer offer. If you're considering transferring a balance from an existing non-CommBank Australian card, this card offers an introductory 5.99% p.a. balance transfer rate for 5 months. The variable cash advance rate of 21.24% p.a. will apply to any balance remaining from the transfer at the end of the introductory period. You won't earn any points on the balance transfer.
Cash advance rate. This card charges a variable cash advance rate of 21.24% p.a., which applies to transactions such as ATM withdrawals.
Interest-free days. Get up to 55 interest-free days on purchases when you pay your account's outstanding balance in full by the due date on each statement.
Additional cards. You can request an additional card for anyone aged over 16 years. If approved, the additional card attracts an annual fee of $10.

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173 Comments

David
August 5, 2019

I have commonwealth bank Diamond credit card. Does it give me access to qantas lounge

Nikki
August 5, 2019

Hi David,

Thanks for getting in touch!

The Commonwealth Bank Diamond Awards Credit Card doesn’t have access to Qantas lounges. You may refer to our list of credit cards with free airport lounge access instead.

Hope this was helpful. Don’t hesitate to message us back if you have more questions.

Best,
Nikki

Allan
September 19, 2018

Some credit cards allow access flight lounges when travelling overseas. Does my platinum card give me this ability

Nikki
September 19, 2018

Hey Allan!

Thanks for your message and for contacting finder.

There are some credit cards that allow access to flight lounges while traveling. Commonwealth Bank Platinum Awards does not have any partnerships with airport lounges at the moment. However, should you fly business class on an airline, this is an automatic perk that airlines have. It would be good to check with the airline prior to booking a flight as well.

Hope this helps! Feel free to message us should you need further help.

Regards,
Nikki

Leo
July 12, 2017

With my m/card platinum card do I have adequate travel insurance. I’m traveling to the Ukraine (not the Crimea/troubled region) and need to know if i have cover. I also want advice on the network in use in that country. Is it 4G ? Will the concierge help me in this ?

finder Customer Care

Harold
July 18, 2017

Hi Leo,

Thank you for your inquiry.

While we cannot recommend what is best for you, we can offer you a general advice. This card offers access to overseas emergency medical assistance and hospital expenses insurance, cover for travel delays, cancellation cover, personal liability cover, and rental vehicle excess cover. You can also get purchase security insurance and extended warranty insurance for eligible purchases made using this card. Eligibility and activation requirements apply. Please refer to the CommBank Credit Card Insurances booklet available on the CommBank website.

I hope this information has helped.

Cheers,
Harold

Jamie
June 25, 2017

Can I get cash out with pay pass if I have a CommBank platinum card?

Jonathan
June 25, 2017

Hi Jamie!

Yes, your MasterCard PayPass, you won’t need to swipe your card or give it to a cashier when you make payments under $100. Let the cashier know you wish you have contactless, then with one quick tap on the contactless reader you’re done. :)

Hope this clarifies,

Cheers,
Jonathan

alex
May 17, 2017

how do I transfer points from my visa card to my virgin account

finder Customer Care

May
May 17, 2017

Hi Alex,

Thank you for your inquiry.

Just to confirm, from which credit card you would want to transfer your rewards points? Generally, you’ll be able to transfer your credit card rewards points to your frequent flyer account by logging in to your online banking account or by contacting your bank’s rewards customer service support for assistance.

Meantime, for a general guide on the process of transferring credit card points to a Virgin frequent flyer account, please refer to our guide about transferring frequent flyer points to learn more.

I hope this helps.

Cheers,
May

Jacquie
December 8, 2016

What is the conversion rate of rewards points to QAN FF points

finder Customer Care

May
December 8, 2016

Hi Jacquie,

Thanks for your question.

The conversion rate is 1 Qantas Point = 2.5 CBA Awards points. You may refer to our frequent flyer point transfer guide to learn more about the CBA awards program.

Cheers,
May

Elizabeth
October 23, 2016

Travel ins cover. The 6 months cover? Which 6 months. This is not clear. I travel all the year, so this is one of the reasons this card was attractive.

finder Customer Care

May
November 2, 2016

Hi Elizabeth,

Thanks for your question.

With CBA complimentary travel insurance attached to your credit card, your cover starts when you leave your home or place of business to travel directly to the Australian air or sea terminal that is the departure point for your journey (given that your policy is activated).

For more details about the travel insurance and information on the start and end date of the insurance cover, please feel free to read the Frequently Asked Questions section of our CBA bank credit cards guide.

Hope this helps.

Cheers,
May

Ray
September 6, 2016

Does the commonwealth bank have a visa credit card

finder Customer Care

May
September 7, 2016

Hi Ray,

Thanks for your inquiry.

The credit cards offered by CBA have MasterCard and AMEX logos, not Visa.

Cheers,
May

Tan
June 26, 2016

I have commonwealth awards credit card but Can I upgrade to platinum awards if I 457 visa

finder Customer Care

May
June 28, 2016

Hi Tan,

Thanks for your inquiry.

If you want to upgrade to Commonwealth Bank Platinum Awards Credit Card, you’ll need to apply for the card. You’d be best to contact CommBank directly to discuss your chances of acceptance. For your convenience, I’ve forwarded their contact details to your email.

Cheers,
May

arno
June 1, 2016

How does reward points convert to Qantas frequent flyer points?

finder Customer Care

May
June 1, 2016

Hi Arno, thanks for your inquiry!

To transfer your awards points to Qantas Frequent Flyer points, you need to contact CommBank Awards Service Centre. I’ve sent to your email their contact details.

Please note though some of the conditions in the CBA Awards T&Cs:

– You must opt-in to Qantas Frequent Flyer Direct if you wish to redeem your CommBank Awards points for Qantas FF points using Qantas FF Direct.

– You must be a member of the Qantas FF program in order to redeem Awards points in the CommBank Awards Program for Qantas FF points using Qantas FF Direct.

– Once you opted-in to Qantas FF Direct, all CommBank Awards points earned will be automatically redeemed for Qantas FF points and transferred monthly to your Qantas FF account.

– If you have opted-in to Qantas FF Direct, you cannot redeem CommBank Awards points for other Awards in the CommBank Awards Program

For your reference, I’ve forwarded to your email the CommBank Awards T&Cs.

I hope this helps.

Cheers,
May

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