Important disclosure
Commonwealth Bank Ultimate Awards (CommBank Awards Points)
Purchase Rate
Purchase Rate
20.24%
p.a
Balance Transfer Rate
Balance Transfer Rate
5.99%
p.a
for up to 5 months, then 21.99%
Purchase Rate
20.24%
p.a
Balance Transfer Rate
5.99%
p.a
for up to 5 months, then 21.99%
Annual Fee
$420
Promoted credit cards
Promoted
Rewards Black
Bonus Points
180,000 extra ANZ Reward Points and $150 back to your new ANZ Rewards Black credit card when you spend $3,000 on eligible purchases in the first 3 months from approval.*Purchase Rate
20.49%
p.a
Annual Fee
$375
Promoted
Frequent Flyer Black
Bonus Points
Earn 110,000 bonus Qantas Points and $100 back to your card when you spend $5,000 on eligible purchases in the first 3 months from approval.*Purchase Rate
20.49%
p.a
Annual Fee
$425
Pros and cons
For Ultimate Awards (CommBank Awards Points)
Benefits
- 5.99% p.a on balance transfers for 5 months and then 21.99% p.a.
- Rewards Available through CBA Premium Awards
- Extra 100,000 points subject to eligibility conditions
- Annual fee of $420 is refunded when you spend $4,000 on purchases every 1 months
- Ability to convert large purchases into instalment plans
- Domestic travel insurance
- International travel insurance
- Extended warranty
- Vip seating
- Concierge
- Special events
- Airport lounge
- Fraud protection
- Purchase protection insurance
Drawbacks
- Higher than average ongoing variable purchase rate
- Higher than average ongoing annual fee
- Does not offer free supplementary cards
Commonwealth Bank Rate Credit card overview
For Ultimate Awards (CommBank Awards Points)
Details
Card Level Premium | Card Type MasterCard |
Interest Free Days Interest Free Days 55 | Minimum monthly repayment 2% or $25 |
Minimum credit limit $6k | Maximum credit limit No set max |
Free supplementary cards | Instant Approval |
Target Market Determination Visit Commonwealth Bank of Australia to view Target Market Determination. |
Fees
Annual Fee Annual Fee $420 | Annual Fee Spend Waiver $4k |
Supplementary card annual fee $0 | Late Payment Fee $20 |
Over limit fee $15 | Duplicate statement fee $0 |
Electronic Wallet Service
Important Rates
Rates
Purchase Rate Purchase Rate 20.24% p.a |
Cash advance rate 21.99% p.a |
Cash advance fee 3% or $4 |
Balance Transfer
Balance Transfer Rate Balance Transfer Rate 5.99% p.a for up to 5 months, then 21.99% |
Transfer Limit 100% of the approved credit limit |
Balance Transfer Fee |
Overseas spending
Foreign Exchange Fee $0 |
Overseas charges Overseas charges $2.5 |
Estimated ATM Cost $2.5 for AU $300 withdrawal |
Rewards
Program name CBA Premium Awards |
Rewards Available Gift Card, Cash Back |
Eligibility
Minimum age 18 |
Minimum income |
Eligibility conditions |
Residency |
Earn Rates
| Rate | Card Type | Earns | Condition |
|---|---|---|---|
| 3 points for $1 spent | Mastercard | Up to 10k points monthly | Eligible transactions |
| 0.5 points for $1 spent | Mastercard | uncapped | Eligible transactions |
Perks
- DOMESTIC TRAVEL INSURANCE
- INTERNATIONAL TRAVEL INSURANCE
- EXTENDED WARRANTY Warranty is extended for the same duration as the original warranty up to 1 year.
- VIP SEATING
- CONCIERGE
- SPECIAL EVENTS
- AIRPORT LOUNGE
- FRAUD PROTECTION
- PURCHASE PROTECTION INSURANCE Cover lasts for 90 days per year
