Commonwealth Bank credit cards

Apply for a CommBank credit card and you could pay less interest, save money and earn more points.

By   |   Verified by David Boyd   |   Updated 17 Mar 2023

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Comparing Commonwealth Bank credit cards

Commonwealth Bank Low Fee Gold Credit Card

Balance transfer

5 months at 5.99% p.a.

Purchase rate

19.74% p.a. ongoing

Annual fee

$0.00 for 1st year

Highlights

  • Get $300 cashback when you apply by 1 June 2023 and spend $1,500 on purchases within 90 days of card activation.
  • Enjoy a $0 annual fee for the first year and for each subsequent year when you spend $10,000 or more in the previous year.
  • Overseas travel insurance to give you coverage for up to 3 months of travel.

Pros

  • Get $300 cashback when you meet the criteria.
  • Enjoy $0 annual fee for the first year and for each subsequent year when you spend $10,000 or more in the previous year.
  • Overseas travel insurance to give you cover for up to 3 months travel.

Cons

  • There are no rewards program on this card.
Commonwealth Bank Low Rate Gold Credit Card

Balance transfer

5 months at 5.99% p.a.

Purchase rate

15 months at 0% p.a.

Annual fee

$89.00 p.a. ongoing

Highlights

  • Low ongoing purchase interest rate of 13.24% p.a.
  • 0% p.a. for 5 months on balance transfer (reverts to 21.24% p.a.)
  • Up to 55 days interest free on purchases

Pros

  • Low ongoing purchase interest rate of 13.24% p.a.
  • 0% p.a. for 5 months on balance transfer.
  • Includes international travel insurance.

Cons

  • No rewards program.
  • There is a 3% international transaction fee.
Commonwealth Bank Low Rate Credit Card

Balance transfer

5 months at 5.99% p.a.

Purchase rate

12 months at 0% p.a.

Annual fee

$59.00 p.a. ongoing

Highlights

  • Get $250 cashback when you apply by 1 June 2023 and spend $1,500 on purchases within 90 days of card activation.
  • Enjoy 0% p.a. on purchases for 12 months. Reverts to the low variable interest rate on purchases of 13.24% p.a.
  • $59 p.a. annual fee.
  • Up to 55 days interest-free on purchases.

Pros

  • Earn cashback when you meet the criteria.
  • Enjoy 0% p.a. on purchases for 12 months.
  • 0% p.a. for 5 months on balance transfer (reverts to 21.24% p.a.)
  • Up to 55 days interest-free on purchases.

Cons

  • No rewards program.
  • There is a 3% international transaction fee.
Commonwealth Bank Essentials Credit Card

Balance transfer

N/A

Purchase rate

9.9% p.a. ongoing

Annual fee

$60.00 p.a. ongoing

Highlights

  • $60 p.a. annual fee (Conditions Apply).
  • Cheap ongoing purchase interest rate of 9.90% p.a.
  • Minimum credit limit of $400.

Pros

  • $60 p.a. annual fee (Conditions Apply).
  • Cheap ongoing purchase interest rate of 9.90% p.a.
  • Up to 55 days on interest purchases.

Cons

  • There is no introductory balance transfer offer.
  • No Awards points.
  • Does not include complimentary travel insurance.
Commonwealth Bank Low Fee Credit Card

Balance transfer

5 months at 5.99% p.a.

Purchase rate

19.74% p.a. ongoing

Annual fee

$0.00 for 1st year

Highlights

  • Get $200 cashback when you apply by 1 June 2023 and spend $1,000 on purchases within 90 days of card activation.
  • No annual fee of $0 p.a. for the first year and $29 p.a. for each subsequent year. Terms and Conditions apply.
  • Up to 55 days interest-free.

Pros

  • Get $200 cashback when you meet the criteria.
  • No annual fee of $0 p.a. for the first year and $29 p.a. for each subsequent year. Terms and Conditions apply.
  • Up to 55 days interest-free.

Cons

  • There is no rewards program on this card.
  • No international travel insurance.
Commonwealth Bank Diamond Awards Credit Card

Balance transfer

5 months at 5.99% p.a.

Purchase rate

20.24% p.a. ongoing

Annual fee

$349.00 p.a. ongoing

Highlights

  • Get a $100,000 bonus CommBank Awards points or 70,000 Qantas Points when you apply by 1 June 2023 and spend $5,000 on purchases within 90 days of card activation.
  • Earn up to 1 million points per year or 400,000 Qantas Points per year. Terms and Conditions apply.
  • Spend points on travel, shopping vouchers, merchandise, cashback, and much more.
  • Feel secure with the complimentary International Travel Insurance.

Pros

  • Earn 100,000 bonus CommBank Awards points or 70,000 Qantas Points when you meet the spending criteria.
  • Earn 1.25 Awards points or 0.5 Qantas Points for every dollar you spend
  • Get up to 1 year extended warranty on most purchases.

Cons

  • The $349 p.a. annual fee is high.
  • There is a $10 additional card fee.
Commonwealth Bank Awards Credit Card

Balance transfer

5 months at 5.99% p.a.

Purchase rate

20.24% p.a. ongoing

Annual fee

$59.00 p.a. ongoing

Highlights

  • Earn 50,000 CommBank Awards points when you apply by 1 June 2023 and spend $2,500 on purchases within 90 days of card activation.
  • Choose to earn CommBank Awards or opt-in to earn Qantas Points for $30 per year. Terms and Conditions apply.
  • Earn 1 Awards point or 0.4 Qantas Points for every dollar spent using your Mastercard.
  • $59 p.a. annual fee.

Pros

  • Earn 50,000 CommBank Awards points when you meet the spending criteria.
  • 0% for 5 months on balance transfers (reverts to cash advance rate thereafter).
  • Enjoy up to 55 interest-free days on purchases.

Cons

  • Relatively high purchase interest rate and cash advance interest rate.
  • The $59.00 p.a. ongoing annual fee.
  • $10 p.a. additional cardholder fee applies.
Commonwealth Bank Platinum Awards Credit Card

Balance transfer

5 months at 5.99% p.a.

Purchase rate

20.24% p.a. ongoing

Annual fee

$249.00 p.a. ongoing

Highlights

  • Get 50,000 bonus Qantas Points or 80,000 CommBank Awards Points when you apply by 1 June 2023 and spend $4,000 on eligible purchases within 90 days of activation.
  • Earn 1 Awards point per $1 spent on purchases.
  • $249 p.a. annual fee.

Pros

  • Get 50,000 bonus Qantas Points or 80,000 CommBank Awards Points when you meet the criteria.
  • Earn 1 Awards point per $1 spent on purchases.
  • Comes with complimentary travel insurance, an extended warranty, and purchase protection.

Cons

  • The high annual fee of $249 p.a.
  • High-interest rate on cash advances and purchases.
Commonwealth Bank Business Platinum Awards Credit Card

Balance transfer

5 months at 5.99% p.a.

Purchase rate

20.74% p.a. ongoing

Annual fee

$300.00 p.a. ongoing

Highlights

  • Get 50,000 bonus Qantas Points or 80,000 CommBank Awards points when you apply by 1 June 2023 and spend $4,000 on eligible purchases within 90 days of activation.
  • Earn 1 Awards Point or 0.4 Qantas Points for every dollar spent using your CommBank Awards Mastercard
  • Balance Transfer at 5.99% for 5 months.

Pros

  • Get 50,000 bonus Qantas Points or 80,000 CommBank Awards points when you meet the criteria.
  • Earn up to 300,000 points a year. Terms and Conditions apply.
  • Transfer your earned points to other travel programs.

Cons

  • High annual fee.
  • The additional cardholder fee is $75.

Commonwealth Bank Business Awards Credit Card

Balance transfer

5 months at 5.99% p.a.

Purchase rate

20.74% p.a. ongoing

Annual fee

$100.00 p.a. ongoing

Highlights

  • Choose to earn CommBank Awards points or opt-in to earn Qantas Points for $30 per year. Terms and Conditions apply.
  • Up to 55 days interest-free on purchases.
  • Earn 1 Awards point for every dollar you spend on your Awards Mastercard.

Pros

  • Get access to a unique collection of entertainment experiences through Priceless Sydney and Mastercard Privileges.
  • 24/7 emergency assistance overseas.
  • Includes Transit Accident Insurance and Unauthorised Transaction Insurance.

Cons

  • The additional cardholder fee is $75.

More about Commonwealth Bank credit cards

Find details on rates, charges, fees, rewards, and eligibility for a better comparison.

  • FAQs

Are Awards points earned on all transactions?

No. Generally, points are only earned on purchases. Other transactions such as BPAY transactions, cash advances and balance transfers do not earn points. Check the program’s terms and conditions to ensure the scheme suits your spending habits and the way you want to use your card.

Can I manage my card via online banking?

Yes. Commonwealth Bank’s internet banking service, called NetBank, allows you to view and manage your credit card account securely online at anytime that suits you.

Can I use the telephone to manage my account?

Yes. You can get your balance, make payments, etc. on the phone.

Do CommBank offer any preferential pricing for existing customers??

To reward customer loyalty, if you already have a qualifying account, when you apply for one of their credit cards the bank reduces or waives your card’s annual fee. The amount that is deducted form the annual fee depends on which card you apply for. Subject to CommBank’s terms & conditions.

Do Commonwealth Awards points expire?

No. There is no expiry date on points, so you don’t have to worry about losing them.

Do I have to switch banks to get a credit card with CommBank?

No. You can apply for a CommBank credit card without having to switch from your existing bank.

How do I redeem my Awards points?

When you are a member of the Commonwealth Awards program you can browse the scheme’s store by logging into NetBank, find rewards and redeem points online. You can also redeem points by calling the Commonwealth Awards telephone service.

Is there a cap on the number of Commonwealth Awards points that can be earned?

Yes, there is a limit on how many Awards points you can earn; the number varies between different cards and depends on whether you have joined Qantas Frequent Flyer. The cap on all Commonwealth Award members’ points is reset each year on 1st January.

What are the criteria for applying for one of their credit cards?

To qualify you need to be age 18 years or over; be a citizen or resident of Australia; have a good credit history; and be able to make regular repayments. You also need to earn above a specified income threshold, which varies between the different credit cards. Making sure you meet these requirements before applying greatly increases you chances of getting approved.

What cards do Commonwealth Bank offer?

Commonwealth offers a full range of credit cards designed to suit the various requirements of its customer base. Each card is tailored to suit a different type of cardholder with a mixture of features, rates, fees, rewards and extra benefits. You can compare and select a credit card that suits your finances, from a simple low interest rate or low fee, credit cards that provide rewards for your spending and prestigious gold, platinum and diamond cards.

Note that Commonwealth typically are not very competitive with their balance transfer deals. You can compare their current offers with others using our credit card balance transfer comparison.

What does the Commonwealth Bank Awards program offer me?

The Awards program provides rewards for spending on your credit card. The bank offers standard, Gold, Platinum and Diamond Awards credit cards, each of which gains membership to one of Australia’s largest credit card rewards programs. Each time you make eligible purchases on your card you earn points, which can then be redeemed for an enormous choice of retail products and services, travel, gift cards and cash back on certain cards such as the CommBank Awards cards.

What kind of rewards can be earned?

The bank’s Awards program offers a wide choice of rewards that you can exchange for points earned on purchases. Rewards include retail merchandise, travel products and services, entertainment, Commonwealth Bank financial products, charity donations, frequent flyer programs and cash back on relevant cards.

When will I receive my new Commonwealth Bank credit card?

When you have completed the application process you will be notified whether or not you have been approved. If successfully approved, your new credit card will be posted to you within 10 working days.