Commonwealth Bank Gold Card

Before you choose a gold credit card you need to be sure that you are going to be getting meaningful rewards as part of your new credit card deal. It can be easy to choose a gold credit card which appears to have a rewarding rewards program, but the spending you have to do and the purchases you have to make aren’t easily within your normal spending habits, let alone your budget, so by the time you qualify for rewards points you are buried in credit card debt.

This problem is easily solved by choosing the right rewards credit card for you, so consider whether you could benefit from double points earning opportunities long interest free periods and a low fee for an additional card holder to help you accumulate those points – if you can, consider whether a Commonwealth Bank Gold credit card is right for you.

Features of the Commonwealth Bank Gold Card

The Commonwealth Bank Gold card rewards program has recently been upgraded, specifically to make it easier for you to earn rewards points and redeem those points for things you actually want, sooner. Other features of the new Commonwealth Bank Gold card deal include:

• Earn two points for every dollar spent on your American Express card. Where American Express is accepted and you won’t be charged a surcharge, use your Commonwealth Bank Gold American Express card. You will earn double points and grow your balance faster.
• Earn one point for every dollar spent on your MasterCard. Where American Express is not accepted, you don’t have to miss out on rewards points because your MasterCard goes on earning you points too. This is the best part of a companion card deal because you can boost your points balance where possible, but don’t miss out on points earning opportunities either. Plus, your MasterCard and American Express card are linked to the same account and go towards the same balance so you have two cards, but just one monthly payment to make.
• Commonwealth Bank American Express card benefits. You can be covered by emergency travel insurance with your American Express card, as well as be able to shop online at American stores, which don’t normally accept Australian credit cards, and which won’t normally ship to an Australian buyer.
• Gold card insurance, protection and privileges. You are also entitled to free comprehensive travel insurance for full coverage wherever you go, and a 90 day purchase security cover in case something you buy on your card is lost, stolen or damaged. You can also enjoy an extended warranty for free on your purchases, where retailers will try and charge you to extend the manufacturer’s warranty in store.
• Travellers’ cheques and cheque cashing. If you are travelling your cash cane even be taken care of as part of your Commonwealth Bank Gold card deal because you are also entitled to commission-free travellers’ cheques. You also have cheque cashing facilities with your gold card.
• A 55 day interest free period. The standard purchase interest rate is 19.74% and your cash advance rate is 20.74%, but you can avoid earning interest on your purchases for 55 days, and repay your balance to zero to be eligible for the next interest free period too, so you can avoid interest charges all together.
• If you are eligible you can enjoy a reduced annual fee. The standard annual fee of the Commonwealth Bank Gold card is $144 but if you are eligible for the fee reduction, you can pay just $114 a year instead.
• A 5.99% interest rate on balance transfers for 5 months. Why would you be paying high rates of interest on your credit card balance when there is a better deal out there? If you can’t think of a good reason to stick with your existing high interest rate credit card, switch to the Commonwealth Bank Gold card and enjoy the low side of interest for a few months of respite while you can genuinely pay down your principal balance.

If you are ready to take advantage of the faster and easier rewards program and the exclusive gold card holder deals available with the Commonwealth Bank Gold MasterCard and American Express, follow our secure link to start your application online now.