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Credit Card Features and Benefits

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Overview

CommBank offers a range of credit cards with different features, interest rates and fees to meet the needs of our customers.

All new credit card applications are issued with a MasterCard. Our Awards credit cards include a complementary Awards American Express credit card issued on the account, in addition to the MasterCard. New customers can enjoy all the benefits of two cards with the simplicity of one account, one credit limit and balance, one statement and the same interest rates.

Types

The following types of credit cards are available:

Awards card family

  • Awards
  • Gold Awards
  • Platinum Awards
  • Diamond Awards

 

Low Fee family

  • Low Fee
  • Low Fee Gold

 

Low Rate family

  • Low Rate
  • Low Rate Gold

 

Business Cards family

  • Business Awards
  • Business Gold Awards
  • Business Platinum Awards

 

Features

Up to 55 days interest-free on purchases

Cardholders who make a purchase on the first date of their new statement will have the full 55 days' interest free period on that purchase, provided they have paid off their previous month's balance in full.

That is, credit charges will not accrue on purchases if the closing balance on the monthly statement is paid in full by the due date (ie, within 25 days of the statement date).

If the balance of the account is not paid in full by the due date, interest will be calculated in line with the Credit Card Conditions of Use.

 

Exclusions

  • Cash Advances and 'cash equivalent' transactions are not 'purchases' and therefore accrue interest immediately.

 

Minimum Payment

If a statement shows a closing balance of less than $25, the minimum monthly payment is the closing balance. Otherwise the minimum monthly payment is the greatest of:

  • The excess of the closing balance over the credit limit on your card account,
  • 2% of the closing balance, and
  • $25

 

Insurances included with Eligible Credit Cards

Overview

Diamond, Platinum (both personal and business) and Gold (both personal and business) credit card cardholders may become eligible for a range of insurance entitlements regardless of whether payment is made on the Awards American Express card, Visa card or the MasterCard when they meet the eligibility criteria.

The following insurances provide cover for incidents relating to travel or shopping:

  • International Travel Insurance
  • Transit Accident Insurance (for international travel only)
  • Interstate Flight Inconvenience Insurance
  • Purchase Security Insurance
  • Extended Warranty Insurance
  • Guaranteed Pricing Scheme

 

Note: For any enquiries or claims for spending made post July 1st, the cardholder should be referred to Allianz Global Assistance on 1800 837 177, available Monday to Friday 8.00am to 7.00pm (AEST), and Saturday 8.00am to 5.00pm (AEST).

For any enquiries or claims for spending made prior to July 1st, the cardholder should be referred to Zurich Assist on 1800 285 189 (8.00am to 5.00pm, Sydney time)

 

Credit Cards included insurances


Refer to the following table for types of travel insurance available to eligible credit card holders.

Type Applicable Cards Policy Cover
Transit Accident Insurance (for international travel only)
  • Diamond
  • Platinum (both business and personal)

This cover provides certain accidental death and injury cover for cardholders who sustain an injury while riding as a passenger in (not as a pilot, driver or crew member) or boarding or alighting a plane, bus, train or ferry.

 

Credit Cards included International Travel Insurance
  • Diamond
  • Platinum (both business and personal)
  • Gold (both business and personal)

This cover is included with the credit card.  No minimum spend required.  Cover includes unlimited overseas medical and hospital cover, cancellation fees and lost luggage and more.

It covers more than you - your spouse / partner and dependent children when travelling with you.

Customers will receive a Certificate of Insurance with a personalised policy number, upon ‘activating’ their policy via Netbank.#

Interstate Flight Inconvenience Insurance
  • Diamond
  • Platinum (business and personal)

This policy covers flight delays, luggage delays, loss of or damage to items etc. It covers cardholders provided they charge the entire cost of their return interstate flight to their eligible credit card account.

Purchase Security Insurance
  • Diamond
  • Platinum (business and personal)
  • Gold (business and personal)
  • Platinum Debit MasterCard

This cover provides 90 consecutive days of free insurance against loss, theft or damage over a wide range of new business / personal goods purchased anywhere in the world, provided the purchase is charged to the eligible cardholder’s credit card account or the goods are directly purchased by redeeming Commonwealth Awards points and the event occurs once the cardholder is in possession of the goods purchased.1

 

Extended Warranty Insurance
  • Diamond
  • Platinum (business and personal)
  • Gold (business and personal)
  • Platinum Debit MasterCard

The purpose of this cover is to extend the manufacturer’s expressed Australian warranty on business items/personal goods purchased, provided the purchase is charged to the cardholder’s eligible credit card account or is purchased by redeeming Commonwealth Awards points directly for the business items/personal goods.1

Different lengths of cover are applicable to the different credit card tiers.1

Guaranteed Pricing Scheme
  • Diamond
  • Platinum (business and personal)
  • Platinum Debit MasterCard

The scheme guarantees the cardholder, gets the best price if, within 21 days of the purchase, they advise Allianz Global Assistance that they have, subsequent to their purchase, received a printed catalogue showing the same good for a lower price from a store within 25 kilometres of the store where the good was purchased, and the price difference is greater than AU$75.1

 

Insurance is issued and managed by AGA Assistance Australia Pty Limited (trading as Allianz Global Assistance) (AFSL No.245631 ABN 52 097 227 177) on behalf of the insurer Allianz Australia Insurance Limited (AFSL No. 234708 ABN 15 000 122 850) for Commonwealth Bank of Australia.

#If you don’t activate you’ll receive Base cover which includes personal liability cover and unlimited overseas medical assistance and hospital expenses only. Restrictions, exclusions (including for pre-existing medical conditions and persons aged 80 years or over), limits and excesses apply.

1Please read the Credit Card Insurances Product Disclosure Statement and Information Booklet for full conditions.

 

Further information regarding CommBank Credit Cards is available at http://www.commbank.com.au/personal/credit-cards

For more information about included travel insurance with eligible credit cards is available at https://www.commbank.com.au/personal/insurance/travel-insurance/travel-insurance-included.html

Credit Card Comparison Table

Credit Card Insurances Product Disclosure Statement and Information Booklet