In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
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CommBank Ultimate Awards Credit Card

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CommBank Ultimate Awards Credit Card
Terms and conditions apply
Purchase rate
20.99% p.a.
Reward point per $ spent
1
Annual fee
$420 p.a.
Interest-free on purchases
Up to 44 days

Our verdict

Offers a $0 monthly fee if you spend at least $4,000 in each statement period, but there’s a $35 monthly fee if requirements aren’t met.

The CommBank Ultimate Awards Credit Card offers travel benefits like no foreign transaction fees, airport lounge access and included travel insurance. You can also use CommBank Awards points to pay for travel with Flight Centre or transfer to a frequent flyer partner like Velocity. And if you’re not travelling at the moment, there’s plenty of other rewards to redeem, including shopping at Myer, gift cards from brands like Coles and BP and even credit back on the account.

Pros

  • 3 points per $1 spent overseas and 0% foreign transaction fees.
  • Included international travel insurance when you activate it before you travel.
  • 2 complimentary airport lounge passes per year with Mastercard Travel Pass

Cons

  • Purchase rate of 20.99% p.a. is relatively high
  • After $10,000 spend per statement period, earn rate drops to 0.5 pts / $1
  • Monthly fee can add up to $420 a year if you don’t spend at least $4,000 in each statement period
  • Offers up to 44 days interest-free on purchases, compared to other cards that offer up to 55 days

In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews

The CommBank Ultimate Awards Credit Card comes with included travel insurance, no foreign transaction fees and paid access to over 1,300 airport lounges. Instead of an annual fee, there’s a $35 monthly fee that could add up to $420 a year. But it’s waived if you spend at least $4,000 in each statement period and choose to get online statements.

Details

Product details

Product Name CommBank Ultimate Awards Credit Card
Purchase rate p.a.
Purchase rate p.a.
20.99%
Interest-free period
Up to 44 days on purchases
Cash advance rate p.a. 21.99%
Min credit limit $6,000
Card type Mastercard

Eligibility

Available to temporary residents Yes - Conditions apply
Joint application No

Rewards

Rewards program CommBank Awards Program
Bonus points N/A
Rewards points per $ spent 1

Fees

Annual fee
Annual fee
$420
Minimum monthly repayment 2% of the closing balance or $25, whichever is greater
Late payment fee $20
Foreign currency conversion fee
Foreign currency conversion fee
0%
Cash advance fee 3% or $4, whichever is greater
Overseas cash advance fee $3 or 3% of the transaction amount, whichever is greater
Additional cardholder fee $0
Number of additional cardholders 1

How to apply

You can apply for the CommBank Ultimate Awards Credit Card online by filling in a secure application form. To get started, make sure you meet the following eligibility requirements and have all the information you need to complete the application.

Eligibility criteria

  • Residency. This card is available to permanent and temporary residents as long as you have the legal right to work in Australia. You may be asked to provide your visa details if you're not a permanent resident.
  • Credit history. You must have a good credit score with no current bankruptcies to receive approval. You can get your credit score and copy of your comprehensive credit report for free through Finder.

Card benefits

  • 0% foreign transaction fees. You won't be charged an international transaction fee when you use your card to shop overseas or online with a foreign merchant.
  • Points per $1 spent. You'll earn 3 Awards points per $1 spent on international transactions made in store and online, 2 Awards points per $1 spent at major Australian supermarkets, department stores and petrol stations and 1 point per $1 on all other eligible spending. After the first $10,000 spent in a statement period, you'll earn 0.5 Awards points per $1 for the rest of the statement period (regardless of the spending category). You can redeem CommBank Awards points in-store at Myer and Flight Centre or take your pick of rewards including frequent flyer points, gift cards and retail items.

Rates & fees

  • Monthly fee. This card charges a $35 monthly fee, which is waived if you spend at least $4,000 on your Ultimate Awards credit card during the statement period. If you pay the monthly service fee each month, it would add up to $420 over a year.
  • Purchase interest rate. This card charges a 20.99% p.a. purchase interest rate.

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