Commonwealth Bank is one of Australia's largest credit card issuers, offering a range of low rate, low fee and rewards options. If you opt for a rewards card, you can earn points as you spend to redeem for rewards with CBA's Awards program or Qantas Frequent Flyer.
Whether you're a savvy-spender or points chaser, you can use this guide to compare CommBank credit cards and find the right card for you.
CommBank Credit Card Offer
Commonwealth Bank Low Fee Gold Credit Card
0% p.a. for 15 months on purchases
Offer ends 29 February 2020
Eligibility criteria, terms and conditions, fees and charges apply
CommBank Credit Card Offer
Save on fees with a $0 annual fee for the first year. This fee will be waived in subsequent years when you spend $10,000 in the previous year (saving you $89 p.a.).
0% interest for the first 15 months on purchases, reverts to 19.74% p.a.
0% international transaction fees on purchases made both online and overseas
Minimum credit limit of $4,000
Included international travel insurance and extended warranty cover
If you're interested in a credit card from Commonwealth Bank, you can compare your options based on the following types of cards and your financial needs.
Low rate credit cards
If you regularly carry a balance from month to month, you can use a low rate card to minimise your interest repayments compared to a card with a higher interest rate. Across CommBank's low rate range, the interest rates range between 9.9% p.a. on the Commonwealth Bank Essentials card and 13.24% p.a. for both the Commonwealth Bank Low Rate and Commonwealth Bank Low Rate gold credit cards. These rates are competitive when compared to some other low rate products on the market.
Low fee credit cards
These cards are suited to cardholders who pay their balance in full every month to avoid interest but want to cut down on other card costs. CommBank offers two low fee cards: the Low Fee credit card and Low Fee Gold credit card. Both of these cards offer $0 annual fee in the first year and waive the annual fee in subsequent years when you meet the spend requirement.
Awards credit cards
CommBank has three rewards credit cards to choose from. The Awards card is suited to customers who want a lower annual fee and credit limit, but still want to earn points. The Platinum Awards and Diamond Awards cards are designed for cardholders who are happy to pay higher annual fees to get more competitive earn rates and extras like international travel insurance. Points can be redeemed for merchandise, travel and exchanged for frequent flyer points, including Qantas and Velocity. You can opt in to Qantas Frequent Flyer Direct through the Awards website for an additional $30 annual fee.
Small business credit cards
CBA also offers flexible choices for small businesses, with low rate, interest-free days and Awards options available. If you choose a personal liability option for your business, you don't need to supply business financials when you apply for one of these credit cards. But you do need to be a business owner, director or partner with an Australian Business Number (ABN).
The benefits of banking with the Commonwealth Bank
Here are some of the convenient features and services you can enjoy with a Commonwealth Bank credit card:
Commonwealth Bank included travel insurance policy
You can save on necessary costs and travel with peace of mind thanks to Commonwealth Bank's included insurance policies. The insurance is provided by Zurich Australian Insurance Ltd and is available with the Commonwealth Bank Low Rate Gold, Low Fee Gold, Platinum Awards and Diamond Awards credit cards. Eligibility requirements, terms and conditions and exclusions apply, so make sure to see the Commonwealth Bank Credit Card Insurances product disclosure statement for all of the details.
Commonwealth Bank Awards Program
The Commonwealth Bank Awards program is one of the largest credit card rewards programs in Australia. Whether you prefer travel or frequent flyer rewards, cashback in your account or to treat yourself to product, there are plenty of ways to redeem your points. As there are three Awards credit cards on the market, you can also select a points-earning card that suits both your financial needs and rewards goals.
CommBank app
You can easily manage your account on the go with the comprehensive and easy-to-use CommBank app. You can use the app to check your statements and transactions, transfer money, update your personal details or PIN and locate your nearest CBA ATM or branch.
Mastercard benefits
As well as worldwide acceptance, you can look forward to a bunch of Mastercard perks with your Commonwealth Bank credit card. Mastercard Priceless Cities provides access to experiences and events in cities across the globe. For transactions under $100, you can use your card to make contactless payments thanks to Mastercard PayPass. If your card is used for fraudulent transactions, purchases will also be protected by Mastercard Zero Liability cover.
Mobile contactless payments
Commonwealth Bank credit cards are as convenient as it gets when it comes to cardless payments. You can use your eligible smartphone or wearable to make contactless payments with Apple Pay, Samsung Pay and Google Pay.
How to apply for Commonwealth Bank credit cards
You can apply for a Commonwealth Bank credit card online in 10-15 minutes. Before you get started, make sure you meet the application requirements for your chosen card. These include:
Age. You must be at least 18 years of age to apply for a credit card in Australia.
Residency status. You must provide details of your Australian citizenship, residency or visa status. These requirements vary between cards, and additional conditions may apply for temporary residents. To ensure you're eligible, check the specific conditions for the product before you apply.
Credit history. Your credit history must be in good standing.
Other conditions may apply depending on the card. You can find this information listed on finder's Commonwealth Bank credit card product review and application pages. If you do meet the minimum eligibility requirements, Commonwealth Bank will also need to assess your financial situation before they make a decision about your credit card application.
Required documents
To speed up the application process, make sure you have these details and documents handy when you apply for your CommBank credit card:
Personal information. You will need to provide 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 and assets. Details of income-generating assets such as property and shares also need to be provided, as well as information about any savings.
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.
Frequently asked questions
Want to know more about Commonwealth Bank credit cards? Here we've answered some of the most common questions we get about CommBank cards. You can also get in touch with us by using the form at the bottom of the page.
Commonwealth Bank Awards do not expire, providing you remain a member of the program.
If you have a Commonwealth Bank Awards credit card, you earn Commonwealth Bank Awards points when you make an eligible purchase. Eligible purchases include everyday transactions such as buying your groceries or filling your car up with petrol. Points are not awarded for cash transactions including cash advances, paying government fees and charges, and credit card fees and charges.
The annual fee is charged to your card and added to your account balance. If you don't repay your balance in full by the end of the statement period, interest will be applied to the annual fee (as well as any other transactions that have contributed to your balance).If you want to take advantage of a Commonwealth Bank balance transfer offer, you can elect to transfer a balance when you apply for the credit card online. There’s a section within the application that asks you if you want to carry out a balance transfer. If you select "yes", you will then be prompted to enter details including the name of the financial institution you want to transfer a balance from, the card number of the accounts and the amount you want to transfer from each eligible account.
If you owe less than $25, your minimum payment is the amount you owe. Any amount you owe that exceeds your credit limit must be repaid immediately. Otherwise, your minimum payment for a personal or Awards Business CommBank credit card is the greater of:
2% of the closing balance, rounded down to the nearest dollar
$25
If you have a business credit card other than an Awards option, the minimum payment is either $75 or 2.5% of the balance (whichever is greater).
If you would like to cancel your Commonwealth Bank credit card and close your account, you need to make sure that you have paid back the balance in full. If you’re not carrying a balance on your Commonwealth Bank credit card, you can cancel your card at anytime by calling the Commonwealth Bank on 13 22 21 or by visiting a Commonwealth Bank branch.
In order to close a bank account you will need to contact your bank or account provider directly. You may refer to our guide about closing a bank account on this page.
If you’d like to close or cancel your CommBank account, you can visit any branch with appropriate identification or call them between 9am and 5:30pm, Monday to Friday. You may also speak with the bank regarding your issues with your account details.
I am with Commbank and I’m about to make an overseas purchase with the seller’s currency being USD. I have money in my account which I intend to pay with (no credit card) but I want to pay with a card that has no foreign exchange transaction fees. Which card would you recommend?
As a friendly reminder, while we do not represent any company we feature on our pages and we are not allowed to provide specific recommendations, we can only offer you general advice.
If you are considering to apply for a credit card with Commbank, I noticed that getting an Amex card with them won’t charge you any foreign currency conversion fees but not with a Commonwealth Bank Awards Credit Card.
If you want to look for other credit cards with no foreign transaction fee, please check out this link.
Thanks for getting in touch with finder. You may refer to this link for your reference. In the Fees and Repayment tab you will see more info on charges. It states that for overseas cash advance there’s a fee of $2.50 or 2% of the transaction amount (whichever is greater), overseas ATM withdrawal there’s a fee $2.50 or 2.00% of the transaction amount up to a maximum of $150 and foreign currency conversion fee of 3%. The foreign currency conversion fee is charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
You may check out this page on Commonwealth Bank Awards Program to check on the conversion rate as well as how to convert your Awards points to frequent flyer points for Qantas or Velocity.
It would be best to confirm directly with the airline you’ll be flying with on the equivalent frequent flyer points needed in order to upgrade to business class.
As per CommBank’s website, this insurance is included without a spend requirement but it needs to be activated via NetBank for a cardholder to get full coverage.
Credit card upgrading or getting a lower interest rate for your existing card is something that you can negotiate by directly getting in touch with your bank.
Ive applied for a credit card last month and as yet still have not heard back from u…obviously i wasn’t granted one you could have had tbe de ency to let me know….i can easily go bank elsewhere as where i will get a response back ….cba not good enough …from one unhappy customer
Thanks for your comment and I’m sorry to hear about your negative experience.
Generally, banks do not give their applicants notices when their application was rejected or declined. If you are approved, the usual notification period and the possible time that you can receive your card is between 1-2 weeks.
Meantime, if you are planning on applying for another credit card in the future, you may want to check this page to compare your options. Although just want to give you a heads-up that if your first application was declined, you may want to wait for a few months before you apply again so that you can avoid having too many enquiries too close together on your credit file.
I’m sorry to hear that you’ve lost your credit card. Please contact your bank as soon as possible and have the card locked or cancelled to avoid unauthorized use and process a card replacement request.
Most debit and credit card brands in the market may have more or less the same features, however, most likely, they would differ from the benefits they offer and they have different terms and conditions that govern their products, even if these brands are underwritten by the same institution. If you would like to make a comparison with Commonwealth Bank cards, you can get and find more information on Bankwest credit cards here and on Bankwest Debit MasterCard on this page.
* The credit card offers compared on this page are chosen from a range of credit
cards finder.com.au has access to track details from and is not representative
of all the products available in the market. Products are displayed in no particular
order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are
subject to our disclaimer.
You should consider seeking independent financial advice and consider your own
personal financial circumstances when comparing cards.
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Account details been tricked out of me, can bank account be cancelled?
Hello Stanly,
Thank you for your comment.
In order to close a bank account you will need to contact your bank or account provider directly. You may refer to our guide about closing a bank account on this page.
If you’d like to close or cancel your CommBank account, you can visit any branch with appropriate identification or call them between 9am and 5:30pm, Monday to Friday. You may also speak with the bank regarding your issues with your account details.
Regards,
Jhezelyn
I am with Commbank and I’m about to make an overseas purchase with the seller’s currency being USD. I have money in my account which I intend to pay with (no credit card) but I want to pay with a card that has no foreign exchange transaction fees. Which card would you recommend?
Hi Tom,
Thank you for getting in touch with finder.
As a friendly reminder, while we do not represent any company we feature on our pages and we are not allowed to provide specific recommendations, we can only offer you general advice.
If you are considering to apply for a credit card with Commbank, I noticed that getting an Amex card with them won’t charge you any foreign currency conversion fees but not with a Commonwealth Bank Awards Credit Card.
If you want to look for other credit cards with no foreign transaction fee, please check out this link.
I hope this helps.
Have a great day!
Cheers,
Jeni
If used overseas does the Commonwealth Ma9stercard charge a transaction fee and if so what is the % please?
Cheers
Hi Nancy,
Thanks for getting in touch with finder. You may refer to this link for your reference. In the Fees and Repayment tab you will see more info on charges. It states that for overseas cash advance there’s a fee of $2.50 or 2% of the transaction amount (whichever is greater), overseas ATM withdrawal there’s a fee $2.50 or 2.00% of the transaction amount up to a maximum of $150 and foreign currency conversion fee of 3%. The foreign currency conversion fee is charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
I hope this helps.
Have a great day!
Cheers,
Jeni
How do I utilise Commonwealth Rewards points to upgrade my flights to business class?
Hey Michael,
Thank you for reaching out to us.
You may check out this page on Commonwealth Bank Awards Program to check on the conversion rate as well as how to convert your Awards points to frequent flyer points for Qantas or Velocity.
It would be best to confirm directly with the airline you’ll be flying with on the equivalent frequent flyer points needed in order to upgrade to business class.
I hope this helps.
Best,
Maria
I am about to travel overseas. Is the platinum card travel insurance automatic? Or do I need to notify someone, or activate it in some way?
Hi Wendy,
Thanks for your inquiry
As per CommBank’s website, this insurance is included without a spend requirement but it needs to be activated via NetBank for a cardholder to get full coverage.
Hope this information helps
Cheers,
Arnold
I would like to know if my current credit card can be upgraded and obtain a better interest rate.
Hi Norm,
Thanks for your question.
Credit card upgrading or getting a lower interest rate for your existing card is something that you can negotiate by directly getting in touch with your bank.
Our guide on how credit card upgrading works may help.
Cheers,
Anndy
Ive applied for a credit card last month and as yet still have not heard back from u…obviously i wasn’t granted one you could have had tbe de ency to let me know….i can easily go bank elsewhere as where i will get a response back ….cba not good enough …from one unhappy customer
Hi Bev,
Thanks for your comment and I’m sorry to hear about your negative experience.
Generally, banks do not give their applicants notices when their application was rejected or declined. If you are approved, the usual notification period and the possible time that you can receive your card is between 1-2 weeks.
Meantime, if you are planning on applying for another credit card in the future, you may want to check this page to compare your options. Although just want to give you a heads-up that if your first application was declined, you may want to wait for a few months before you apply again so that you can avoid having too many enquiries too close together on your credit file.
Hope this helps.
Cheers,
May
I have lost my credit card. What should I do?
Hi Nevin.
Thank you for your inquiry.
I’m sorry to hear that you’ve lost your credit card. Please contact your bank as soon as possible and have the card locked or cancelled to avoid unauthorized use and process a card replacement request.
I hope this helps.
Cheers,
Jason
Does a Bankwest credit and debit master card have the same benefits as its Commonwealth counterparts? Thank you.
Hi Alexander,
Thanks for your inquiry.
Most debit and credit card brands in the market may have more or less the same features, however, most likely, they would differ from the benefits they offer and they have different terms and conditions that govern their products, even if these brands are underwritten by the same institution. If you would like to make a comparison with Commonwealth Bank cards, you can get and find more information on Bankwest credit cards here and on Bankwest Debit MasterCard on this page.
I hope this helps.
Cheers,
May
to have my commonwealth rewards transferred to either Frequent Flyer Qantas points or VIrgin Velocity points what do I do?
Hi Leanne, thanks for your inquiry!
Please refer to the link I have sent to your email for redeeming Qantas Frequent Flyer or Virgin Velocity points.
Cheers,
Jonathan