May 26, 2024
Commbank Ultimate Awards Credit Card

Commbank Ultimate Awards Credit Card

The CommBank Ultimate Awards Credit Card is a popular rewards credit card in Australia that offers cardholders a range of benefits and features. Whether you are looking for a sign-up bonus, travel benefits, insurance coverage, or a rewards program, the CommBank Ultimate Awards Credit Card has it all. In this article, we will explore the features, benefits, and fees associated with the CommBank Ultimate Awards Credit Card and how to apply for the card and use it to maximize your rewards.

Features of CommBank Ultimate Awards Credit Card

The CommBank Ultimate Awards Credit Card has many features that make it a popular choice for Australians looking for a rewards credit card. Here are some of the key features of the card:

  1. Sign-up bonus and rewards program: The CommBank Ultimate Awards Credit Card offers a sign-up bonus of 100,000 bonus CommBank Awards points when you spend $5,000 on eligible purchases within the first 90 days of approval. Additionally, the card comes with a rewards program that allows you to earn 2.5 CommBank Awards points for every dollar spent on eligible purchases.
  2. Travel benefits: The CommBank Ultimate Awards Credit Card includes a range of travel benefits, including a complimentary international travel insurance policy, an overseas travel inconvenience insurance policy, and access to the Mastercard Priceless Cities program.
  3. Complimentary insurance coverage: Besides travel insurance, the CommBank Ultimate Awards Credit Card comes with complimentary purchase protection insurance and extended warranty insurance for eligible purchases made using the card.
  4. No foreign transaction fees: The CommBank Ultimate Awards Credit Card does not charge any foreign transaction fees when you use the card to purchase overseas or online in a foreign currency.

How to apply for CommBank Ultimate Awards Credit Card

If you are interested in applying for the CommBank Ultimate Awards Credit Card, here are the steps you need to follow:

  1. Check the eligibility criteria: To be eligible for the CommBank Ultimate Awards Credit Card, you must be at least 18 years old, an Australian citizen or permanent resident, and meet the minimum income requirements.
  2. Gather the required documents: To apply for the card, you must provide proof of your identity, income, and residential address.
  3. Apply online or in-branch: You can apply for the CommBank Ultimate Awards Credit Card online or in-branch by filling out the application form and submitting the required documents.
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How to use CommBank Ultimate Awards Credit Card

Once you have been approved for the CommBank Ultimate Awards Credit Card, here are some tips on how to use the card to maximize your rewards:

  1. Use the card for eligible purchases: Use the CommBank Ultimate Awards Credit Card for qualified purchases to earn rewards points. You can earn 2.5 CommBank Awards points for every dollar spent on eligible purchases.
  2. Redeem your rewards points: You can redeem your CommBank Awards points for various rewards, including travel, merchandise, or cash back.
  3. Make payments on time: To avoid late payment fees and other penalties, make sure you make your payments on time and in full.

Comparison with other rewards credit cards in Australia

The CommBank Ultimate Awards Credit Card is Australia’s only rewards credit card. Here is a comparison with some other popular rewards credit cards in Australia:

  1. American Express Velocity Platinum Card: This card offers a range of travel benefits, including complimentary travel insurance and access to the American Express Lounge.
  2. West pac Altitude Black Credit Card: This card offers a high earning rate of Altitude points and comes with various travel benefits, including travel insurance and lounge access.
  3. Qantas Premier Platinum Credit Card: This card offers a high earning rate of Qantas Points and comes with various travel benefits, including travel insurance and lounge access.

Compared to these cards, the CommBank Ultimate Awards Credit Card offers a higher sign-up bonus, a more comprehensive rewards program, and a range of travel benefits and insurance coverage. However, other dedicated airline rewards cards may offer a lower earn rate for specific loyalty programs, such as Qantas or Velocity.

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Fees and charges associated with CommBank Ultimate Awards Credit Card

The CommBank Ultimate Awards Credit Card includes various fees and charges, including an annual fee and interest rates for balance transfers and cash advances. Here are some of the key fees and charges associated with the card:

  1. Annual fee: The annual fee for the CommBank Ultimate Awards Credit Card is $349.
  2. Interest rates: The interest rate for purchases is 20.24% p.a., while the interest rate for balance transfers is 5.99% p.a. for the first five months and 21.24% p.a. after that. The interest rate for cash advances is 21.24% p.a.
  3. Late payment fees: The late payment fee for the CommBank Ultimate Awards Credit Card is $30.

Customer reviews and testimonials of CommBank Ultimate Awards Credit Card

To get an idea of what current and past cardholders think of the CommBank Ultimate Awards Credit Card, here are some customer reviews and testimonials:

“I’ve been using the CommBank Ultimate Awards Credit Card for a few months now, and I’m loving it! The rewards program is great, and I’ve already redeemed my points for a flight. The travel benefits and insurance coverage are also a nice bonus.” – Sarah T.

“I applied for the CommBank Ultimate Awards Credit Card because of the high sign-up bonus and rewards program. So far, I’ve been able to earn a lot of points and have redeemed them for some great rewards. The only downside is the annual fee, but I feel like the benefits outweigh the cost.” – James M.

Tips for using the CommBank Ultimate Awards Credit Card

Here are some tips for using the CommBank Ultimate Awards Credit Card to make the most of its rewards program and benefits:

  1. Use the card for everyday purchases: The more you use your CommBank Ultimate Awards Credit Card, the more reward points you’ll earn. So, use the card for everyday purchases like groceries, petrol, and bills to earn points faster.
  2. Keep track of your points balance: It’s important to keep track of your points balance and redemption options to ensure you’re getting the most value out of your rewards. You can view your points balance and redemption options through your NetBank account.
  3. Take advantage of the travel benefits: The CommBank Ultimate Awards Credit Card comes with a range of travel benefits, including travel insurance, airport lounge access, and a concierge service. Take advantage of these benefits when travelling to save money and make your trip more comfortable.
  4. Pay your balance in full each month: To avoid paying interest on your credit and negating the benefits of the rewards program, make sure to pay your balance in full each month.
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Final thoughts

The CommBank Ultimate Awards Credit Card is a popular rewards credit card in Australia that offers cardholders a range of benefits and features. With a high sign-up bonus, a comprehensive rewards program, and a range of travel benefits and insurance coverage, this card is a great option for those looking to earn rewards and travel in style. However, it’s important to consider the fees and charges associated with the card and compare it with other rewards credit cards in Australia to find the one that best suits your needs. By following the tips above, you can make the most of the CommBank Ultimate Awards Credit Card and earn rewards faster.