CommBank Ultimate Awards Credit Card
Best for: CommBank customers who spend enough each month to have the fee waived
Pros
- Fee waived with A$4,000 monthly spend
- Fee-free overseas spending with a high overseas earn rate
- Strong everyday categories
Cons
- A$420 a year if you miss the spend threshold
- No lounge access
- Points caps and transfer ratios reduce value
Rates and offers change. Confirm today's terms on the issuer's official site before applying. Independent comparison — not financial advice.
CommBank's Ultimate Awards card charges its fee monthly — A$35 — and waives it in any month you spend A$4,000 or more, which turns it into a free premium card for heavy spenders. It earns up to 3 Awards points per $1 on overseas purchases, 2 on supermarkets, dining and petrol and 1 elsewhere, has no international transaction fees and includes complimentary travel insurance. Points convert to Qantas or Velocity.
CommBank Ultimate Awards Credit Card at a glance
| Issuer | Commonwealth Bank |
| Card network | Mastercard |
| Annual fee | A$35 a month (A$420 a year), waived in months you spend A$4,000+ |
| Rewards rate | 3 Awards points per A$1 overseas, 2 on supermarkets, dining and petrol, 1 elsewhere (caps apply) |
| Welcome bonus | Bonus Awards points after minimum spend (varies) |
| Intro APR | None |
| Purchase rate | 20.99% p.a. (variable) |
| Foreign transaction fee | None |
| Credit needed | Good to excellent |
| Airport lounge access | No |
| Best for | CommBank customers who spend enough to have the fee waived |
Rewards & perks
- No international transaction fees
- Complimentary international travel insurance
- Points transfer to Qantas Frequent Flyer or Velocity
Pros
- Fee waived with A$4,000 monthly spend
- Fee-free overseas spending with a high overseas earn rate
- Strong everyday categories
Cons
- A$420 a year if you miss the spend threshold
- No lounge access
- Points caps and transfer ratios reduce value
Who should apply
- Australian residents with a good credit history
- Households that already bank with CommBank and spend A$4,000+ a month
- Frequent overseas travellers
Before you apply: card terms change often. Confirm the current annual fee, interest rate, welcome offer and rewards on the official Commonwealth Bank site. CreditCardCompare is an independent comparison resource, not the card issuer, and this is not financial advice.
How it compares with similar Australia cards
| Card | Annual fee | Rewards | Intro APR | Foreign fee | Credit needed | Rating |
|---|---|---|---|---|---|---|
CommBank Ultimate Awards Credit CardCommBank customers who spend enough to have the fee waived |
A$420/yr | 3 Awards points per A$1 overseas, 2 on supermarkets, dining and petrol… | None | None | Good to excellent | |
American Express Qantas Ultimate CardQantas flyers who can use the annual travel credit |
A$450/yr | 1.25 Qantas Points per A$1, dropping to 1 point after 100,000 points i… | None | 3% | Good to excellent (minimum inc… |
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