In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates and fees
  • Your reviews
  • Ask a question
Finder makes money from featured partners, but editorial opinions are our own.

CommBank Ultimate Awards Credit Card with Qantas Points

  • Avatar
CommBank Ultimate Awards Credit Card with Qantas Points
Terms and conditions apply
Purchase rate
20.99% p.a.
Reward points per $ spent
0.8
Annual fee
$480 p.a.
Interest-free on purchases
Up to 44 days

Our verdict

Offers no foreign transaction fees and included international travel insurance. But there is a $60 fee for choosing Qantas Points, on top of the card's monthly fee.

If you’re going overseas, the CommBank Ultimate Awards Credit Card offers its highest earn rate of 1.2 Qantas Points per $1 for eligible international transactions. And unlike most frequent flyer cards, this one has no international transaction fees. For spending in Australia, you earn 0.8 Qantas Points per $1 at major supermarkets, department stores and petrol stations and 0.4 Qantas Points per $1 on all other eligible spending. You’ll get these 3 earn rates for the first $10,000 of eligible spending in a statement period, then earn 0.2 Qantas Points per $1 for the rest of that statement period.

Pros

  • 0% international transaction fees
  • Earn up to 1.2 Qantas Points for every $1 spent on eligible transactions made online and overseas
  • 2 complimentary airport lounge passes per year with Mastercard Travel Pass

Cons

  • The accumulated $35 monthly fee adds up to a high annual fee of $480 p.a. if you don’t meet the fee waiver requirements, $60 Qantas opt-in fee
  • A lower earn rate of 0.2 Qantas Points per $1 applies for spending above $10,000 per 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 and fees
  • Your reviews
  • Ask a question

The CommBank Ultimate Awards Credit Card gives you a way to earn up to 1.2 Qantas Points per $1 on eligible spend. On top of that, there’s no foreign transaction fees, and you get access to travel insurance and paid access to over 1,300 airport lounges.

Details

Product details

Product Name CommBank Ultimate Awards Credit Card with Qantas Points
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 Qantas Frequent Flyer
Bonus points N/A
Rewards points per $ spent 0.8

Fees

Annual fee $480
Minimum monthly repayment 2% of the closing balance or $25, whichever is greater
Late payment fee $20
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 with Qantas Points 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 with 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

  • No international transaction fees. This card offers 0% international transaction fees when you're shopping in-store or online with businesses based overseas. Just keep in mind that ATM withdrawals and other cash advance transactions will still attract cash advance fees.
  • Qantas Points per $1 spent. For a $60 yearly fee, you can choose to earn Qantas Points for your eligible spending (instead of CommBank Awards), with the following rates:
    • 1.2 Qantas Points per $1 for eligible international spending online or in-store, up to $10,000 per statement period.
    • 0.8 Qantas Points per $1 for eligible spending with major supermarkets, department stores and petrol stations in Australia, up to $10,000 per statement period.
    • 0.4 Qantas Points per $1 for all other eligible spending, up to $10,000 per statement period.
    • 0.2 Qantas Points per $1 for eligible spending above $10,000 in each statement period.

Rates and fees

  • Monthly fee. This card charges a $35 monthly fee. This fee will be waived if you spend at least $4,000 on your Ultimate Awards credit card during the statement period.
  • Qantas Points opt-in fee. A yearly $60 fee applies when you choose to earn Qantas Points instead of CommBank Awards points with this card.

Your reviews

No reviews yet. Write a review

Ask a question

Ask a question
Avatar

Amy Finder

Editor

Hi there, looking for more information? Ask us a question.

Error label

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked
Accept and continue

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our 1. Terms Of Service and 6. Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Privacy Policy and Terms of Service apply.

Avatar

Linda

August 22, 2023

Regarding: “Airport lounge access via Mastercard Travel Pass. The CommBank Ultimate Awards Credit Card gives you access to over 1,300 airport lounges through Mastercard Travel Pass, a service provided by DragonPass. You need to register your credit card through the app or online, then show your membership QR code and valid boarding pass at the lounge. Each visit will attract a fee from the lounge, which is charged to your credit card..”


What exactly is the benefit when you still have to Pay for the lounge use? I was there last week, was not offered access, was charged a fee.


Show more Show less
Avatar

Amy Bradney-George Finder

August 25, 2023

Hi Linda,

Mastercard Travel Pass offers different benefits depending on the linked card. These will be visible in the Mastercard Travel Pass app. According to the Mastercard Travel Pass website, members can get access to entitlements for participating lounges, which can be viewed in the app. If you have questions or further thoughts about the service, you can message CommBank through the CommBank app or call 13 22 21. I hope this helps.


Show more Show less
Avatar

Philomina Gunasekera

April 02, 2023

What expenses are covered under eligible spending? Does this include ATO, Council Rates and other utility costs?


Avatar

Amy Bradney-George Finder

April 05, 2023

Hi Philomena,

Eligible spending includes most retail purchases. For example, groceries, petrol, dining out and travel bookings. According to the CommBank Awards terms and conditions, transactions that you won’t earn points for include BPAY payments and ATO payments – unless they’re made with a CommBank Business Awards card. The terms and conditions include a list of excluded transactions and, while rates and utilities are not mentioned by name, there is a statement that other transactions may be excluded “from time to time”, with notification in a guide and/or on the CommBank Awards website.


The full details for earning CommBank Awards Points and Qantas Points are available in the terms and conditions booklet on the CommBank website (here is the currentpdf, dated 1 August 2021). If you have further questions, you can also contact CommBank Awards on 13 16 11. I hope that helps.


Show more Show less
Avatar

Aman

March 27, 2023

whats difference between ultimate awards , Diamond rewards, platinum awards, awards


Avatar

Amy Bradney-George Finder

March 31, 2023

Hi Aman,

Those names refer to the different CommBank Awards credit cards, which each earn a different rate of points per $1, have different annual fees and offer different perks. As a basic example, the Diamond and Ultimate cards have higher annual/monthly account fees than the Platinum or Awards cards – and also earn higher rates of points per $1 spent. You can see side-by-side details of the cards in Finder’s guides to CommBank Credit Cards and the CommBank Awards Program. I hope that helps.


Show more Show less
Avatar

Foti

March 13, 2023

Hi,


I wanted to ask two questions with relation to this commbank credit card:


1. If I have an additional card member, will their cash spent per month contribute to meeting the $2.5k a month – which will waive the monthly fee for me?


2. Will the additional card member’s cash spent contribute to earning me Qantas points?


Thanks.


Show more Show less
Avatar

Amy Bradney-George Finder

March 14, 2023

Hi Foti,

Thanks for these questions, here are the answers:

1. The monthly fee will be waived if you spend at least $2,500 in your statement period and choose to receive online statements. This would include spending by an additional cardholder as the charges are still added to the primary cardholder’s account (i.e. you). Keep in mind that there is a $30 yearly fee when you choose to earn Qantas Points, which is separate to the monthly fee.

2. The additional card members eligible spending would earn Qantas Points per $1 spent for your linked Qantas Frequent Flyer account. Note that they can’t add their own Qantas Frequent Flyer details.

Hope that helps!


Show more Show less
Go to site