Commonwealth Bank Awards Card

The Commonwealth Bank Awards card is a companion card system which uses the latest technology and the best incentives to help you get the most out of your credit card, while helping you remain in control of interest and fee charges. If you are struggling with interest charges and paying high annual fees without seeing anything in return, consider the Commonwealth Bank Awards credit card.

Features of the Commonwealth Awards Credit Card

A credit card should not just be a product which earns the bank money from your fees and interest charges. While you are using the bank’s money instead of your own, you are still able to be rewarded for making smart decisions with your money, like paying your balance down to zero. Features of the Commonwealth Bank awards credit card which can be rewarding for your spending include:

• Pay Pass technology for faster purchases. Commonwealth Bank is one of the first credit card providers to introduce the new MasterCard technology of the tap and go purchase. You simply need to tap your Pay Pass MasterCard on a compatible credit card reader and you can pay for any purchase less than $100 in value, in just seconds.
• Chip technology. Australian businesses have almost uniformly updated their card readers to accept chip credit cards so your larger purchases can be protected too. All of your information is stored on the chip of your card and chip credit cards are just about impossible to forge. Chip cards also come with PIN technology where you don’t need to sign for a credit card purchase, but you can enter a PIN only you know, to protect your credit when the shop attendants are not always checking signatures closely enough.
• You can qualify for a lower annual fee. For new Commonwealth Bank Awards card customers, your annual fee will be waived in the first year. From then on you can qualify for a reduced fee, from the standard $85 a year to just $59 a year, if you have an eligible Commonwealth Bank savings account, home loan or passbook account.
• Rewarding companion cards. Your Commonwealth Bank Awards MasterCard comes with a linked American Express card so you can earn 1.5 rewards points for each dollar you spend, where you earn 1 reward point for every dollar spent on your MasterCard. Your American Express card and your MasterCard are on the same account, have the same balance and you only make one monthly payment but you can earn extra points where American Express is accepted, while not missing out on points where it’s not.
• Use your rewards points to donate, travel, spend or save. You can redeem your Commonwealth Bank Awards points for travel, shopping, donations to charities, entertainment or merchandise. You can even use your awards points to pay towards your annual fee so your account remains fee free.
• Priority seating and special offers. As a MasterCard holder you have access to tickets for Australia’s biggest entertainment and sporting events, and can even purchase tickets before they’ve gone on sale, or be able to buy in priority seating areas. As an American Express card holder you will be able to buy at US online stores which don’t ordinarily accept Australian credit cards, and won’t normally deliver to an Australian address.
• A 55 day interest free period. Your Commonwealth Bank Awards credit card will allow you to spend the bank’s money for almost two months, while your wages sit safely accruing interest in a savings account. Before the end of the interest free period you can transfer the amount you need from your savings to pay off your credit card, without attracting the 20.24% purchase interest rate if you pay your balance to zero. Cash advances don’t qualify for interest free days and are charged at 19.74% p.a..
• A five month balance transfer offer with % interest. Avoid high interest charges on your current credit card by taking advantage of the Commonwealth Bank Awards credit card deal. You can transfer a balance from any non-Commonwealth Bank credit card and reduce the amount of interest you pay each month, to increase your chances of repaying your balance.

To Apply for a Commonwealth Bank Awards Credit Card

If you are an existing Commonwealth Bank customer, you can request a new Awards credit card online at the CommBank website, so you can upgrade your existing credit card, take advantage of new rewards and benefits and stay with a provider you’re already happy with. If you’re a new Commonwealth Bank customer you can also apply online; you can even save an application you start online if you get interrupted, and return later. To apply for a new or upgraded Commonwealth Bank Awards credit card deal:

• You must be 18 years or older.
• Be an Australian citizen or permanent resident.
• Meet the Commonwealth Bank credit rating requirements.

If you find the rewards deals and the features of the new Awards credit card and companion card meet your needs, follow our secure link to an online application form and be one of the first Australians to take advantage of the new deal on the Commonwealth Bank Awards credit card.