See All CommBank Awards Card Benefits Now and Learn How to Apply

Building a credit history in Australia is easier with CommBank Awards Card benefits. This is especially true for those who want to turn daily expenses into real advantages.

To evaluate whether the fees and annual fee are worth it, analyzing the CommBank Awards Card benefits down to the detail is essential. Do this before applying.

In this guide, discover the main CommBank Awards Card benefits and the point accumulation rules. Check out the costs as well to see if this choice is right for you.

What is the CommBank Awards Card and How Does It Work?

The CommBank Awards is the entry-level option of Commonwealth Bank of Australia's rewards line.

It is aimed at daily domestic spending, such as supermarkets, fuel, and routine bills. This allows you to earn points directly in the CommBank Awards Program.

Unlike premium cards that require a high income, the basic version has accessible requirements:

• Initial credit limit: starting from 500 AUD, making approval easier for those who are starting to build a credit history in the country.
• Monthly account fee: 8 AUD per month (totaling 96 AUD per year).
• Additional cards: no annual fee, allowing you to share the limit with family members at no extra cost.

An important point: the basic CommBank Awards does not offer a monthly fee waiver based on spending volume.

In higher tiers (such as Smart Awards or Ultimate Awards), reaching 2,000 AUD or 4,000 AUD in monthly spending waives the fee.

On the entry-level card, the 8 AUD fee is fixed on every statement, regardless of usage.

Understand the Main CommBank Awards Card Benefits Now

The main advantage of the card is turning daily expenses into practical benefits.

Below, we show the earning mechanics, redemption options, and financial management tools.

In addition to being an excellent entry point for those building their financial life in the country, the program stands out for its flexibility in using accumulated points daily. 

For those looking to optimize family or personal financial planning, the ability to consolidate recurring purchases on the card is ideal. This helps generate a point balance constantly and hassle-free.

With full integration into the app, managing rewards becomes simple and practical. This allows you to track your balance in real time and plan strategic redemptions according to personal needs, whether to cover everyday expenses. Furthermore, points can be exchanged for useful gift cards at major partner retail chains. You can also prepare for travel within Australia.

1. Earn Awards Points

Point accumulation works in two monthly tiers per statement cycle:

1. Up to 2,000 AUD in eligible purchases: 1 Awards point for every 1 AUD spent.
2. Above 2,000 AUD in the cycle: the rate drops to 0.5 Awards points per excess 1 AUD.
3. Bonus Points eShop: online purchases at partner retailers through the bank's portal generate from 2 to over 10 points per dollar.

Points do not expire, as long as the account remains active and in good standing.

Payments to the Australian Taxation Office (ATO), BPAY transfers, balance transfers, and credit withdrawals (cash advances) do not earn points.

Check the point earning summary in the table below:

Monthly Spending Tier	Conversion Rate	Point Validity
Up to 2,000 AUD / month	1 Awards point per 1 AUD	Do not expire with active account
Above 2,000 AUD / month	0.5 Awards points per 1 AUD	Do not expire with active account
Bonus Points eShop	Special multipliers (up to 15x)	Do not expire with active account

2. Take advantage of redemption options ranging from gift cards to flights

Commonwealth Bank's rewards catalog includes different options for using your balance:

• Travel via Hopper: the app allows you to book flights, hotels, and car rentals. You can use points, cash, or a combination of both.
• Myer Stores (Pay with points): you can use points to pay for purchases at Myer physical stores and website directly at the terminal. This option is incompatible with digital wallets like Apple Pay.
• Gift Cards: exchange points for digital gift cards from major brands. On average, 10,950 points equal 50 AUD (about 0.45 cents per point).
• Airline Miles: transfer to the Velocity Frequent Flyer program (Virgin Australia) at a ratio of 2 Awards points to 1 Velocity point.
• Qantas Restriction: new agreements for the basic card do not transfer points to Qantas Frequent Flyer. To do so, you need to upgrade to Smart or Ultimate Awards versions.
• Statement Credit (Cashback): allows you to reduce your outstanding balance using points, but does not replace the mandatory minimum monthly payment.

3. Control your money through the CommBank App (CommBank Awards Card benefits)

The Commonwealth Bank app is recognized for its ease of use and offers practical features for managing your card:

• SurePay Installments: converts purchases over 100 AUD (made in the last 14 days) into 3, 6, or 12 interest-free installments, charging only a one-off fee of 2%, 3%, or 5%.
• Lock, Block & Limit Panel: allows you to lock your card and block ATM cash withdrawals. You can also limit online international purchases and adjust daily spending caps from your mobile device.
• Touch Card Accessibility: the physical card features a tactile side notch to assist identification for people with visual impairments.
• CommBank Yello: customer recognition program offering cashback deals and discounts with partners based on your banking relationship.

Costs, Fees, and Points to Watch Out for on the CommBank Awards Card

To determine if the card is worth it, you must consider the operating costs and charges.

The CommBank Awards operates with rates aligned with average major Australian bank fees:

• Purchase Interest Rate (Purchase Rate): 20.99% p.a. on unpaid balances after the due date.
• Interest-Free Days: up to 44 days on purchases, provided the statement balance is paid in full by the due date.
• Cash Advances (Cash Advance): 21.99% p.a. from the date of withdrawal, plus a fee of 4 AUD or 3% of the transaction amount (whichever is greater).
• International Transaction Fee: 3.50% on purchases abroad or in foreign currency.

The 3.50% international transaction fee requires special attention.

The point return value is between 0.4% and 0.5%. Therefore, using the card outside Australia or on international websites results in a loss, as the currency conversion fee outweighs the value of earned points.

Who Can Apply for the CommBank Awards Card?

In accordance with Australian credit regulations (National Consumer Credit Protection Act 2009), you must prove income and financial stability.

Commonwealth Bank accepts applications from citizens, permanent residents, and holders of eligible temporary visas.

The requirements to apply for the card are:

1. Be 18 years of age or older.
2. Provide proof of regular income (recent payslips, 90-day bank statements, or the Notice of Assessment).
3. Demonstrate financial capacity to handle the costs of the requested credit limit.
4. Have a good credit history with Australian credit reporting bodies (Equifax, Experian, or Illion).

Once the criteria are met, the application can be submitted directly on the CommBank website.

Conclusion

The CommBank Awards Card is worth considering for those seeking convenience and looking to enter the Australian credit system. It is ideal for Commonwealth Bank customers who concentrate their spending within Australia (up to 2,000 AUD per month). This way, they maximize points on local purchases or domestic flights.

However, the card is not recommended for international travel due to the 3.50% fee. It is also not suitable for those wishing to accumulate frequent flyer miles quickly for premium cabins.

Before applying, evaluate your spending habits to see which rewards program best meets your needs.

Want to check other options? See also the American Express Australia credit cards. They may offer interesting alternatives compared to CommBank Awards.