Standard Awards

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Basic

Card Level
Card Level
Standard
Interest Free Days
Interest Free Days
55
Maximum credit limit
Maximum credit limit
No set max
Minimum credit limit
Minimum credit limit
$500
Minimum repayment dollars
Minimum repayment dollars
$25
Minimum repayment percent
Minimum repayment percent
2
Number free supplementary
Number free supplementary
0
Annual Fee
Annual Fee
$59
Late Payment Fee
Late Payment Fee
$20
Over limit fee
Over limit fee
$0
Duplicate statement fee
Duplicate statement fee
$0
Supplementary card annual fee
Supplementary card annual fee
$10
Apple Pay available
Apple Pay available
Google Pay available
Google Pay available
Samsung Pay available
Samsung Pay available
Card Level
Card Level
Standard
Interest Free Days
Interest Free Days
55
Maximum credit limit
Maximum credit limit
No set max
Minimum credit limit
Minimum credit limit
$500
Minimum repayment dollars
Minimum repayment dollars
$25
Minimum repayment percent
Minimum repayment percent
2
Number free supplementary
Number free supplementary
0
Annual Fee
Annual Fee
$59
Late Payment Fee
Late Payment Fee
$20
Over limit fee
Over limit fee
$0
Duplicate statement fee
Duplicate statement fee
$0
Supplementary card annual fee
Supplementary card annual fee
$10
Apple Pay available
Apple Pay available
Google Pay available
Google Pay available
Samsung Pay available
Samsung Pay available

Rates

Purchase Rate
Purchase Rate
20.24%
Cash advance rate
Cash advance rate
21.24%
Purchase Rate
Purchase Rate
20.24%
Cash advance rate
Cash advance rate
21.24%

Balance Transfer

Balance Transfer Rate
Balance Transfer Rate
5.99%
for 5 months then 21.24%
Transfer Limit
Transfer Limit
100%
of the chosen credit limit
Balance Transfer Fee
Balance Transfer Fee
$0
Balance Transfer Rate
Balance Transfer Rate
5.99%
for 5 months then 21.24%
Transfer Limit
Transfer Limit
100%
of the chosen credit limit
Balance Transfer Fee
Balance Transfer Fee
$0

Overseas spending

Foreign Exchange Fee
Foreign Exchange Fee
3% on MasterCard3.5% on AMEX
Overseas charges
Overseas charges
$2.5
Estimated ATM Cost
Estimated ATM Cost
Foreign Exchange Fee
Foreign Exchange Fee
3% on MasterCard3.5% on AMEX
Overseas charges
Overseas charges
$2.5
Estimated ATM Cost
Estimated ATM Cost

Rewards

Program name
Program name
CBA Basic Awards
Rewards Available
Rewards Available
Gift Card, Cash Back
Program name
Program name
CBA Basic Awards
Rewards Available
Rewards Available
Gift Card, Cash Back

Eligibility

Minimum age
Minimum age
18
Minimum income
Minimum income
Eligibility conditions
Eligibility conditions
Minimum age
Minimum age
18
Minimum income
Minimum income
Eligibility conditions
Eligibility conditions

Earn Rates

RateCard TypeEarnsCondition
1.5 points for $1 spentAMEXUp to $50,000 annuallysupermarkets, petrol stations, department stores and eligible overseas purchases
0.5 points for $1 spentAMEXUp to $50,000 annuallyall other eligible transactions
1 point for $1 spentMasterCardUp to $50,000 annuallyeligible transactions

Perks

    Other Restrictions
    From 1/9/18 this card will no longer be offered to new applicants. From 1/11/18 all cards of this type will be closed.

    Features

    The Commonwealth Bank Standard Awards credit card allows customers to earn rewards points on eligible transactions. Like many other credit cards available, this card allows customers to earn points with the provider’s own rewards program; in this case, the Commbank Awards program.

    This credit card has a high interest rate and includes the typically high cash advance interest rate, but Commbank do offer a moderate number of interest-free days with the Standard Awards card. Customers who choose this card will also need to pay a moderate annual fee each year. You also have the option to add an additional card, but at an annual cost.

    Entertainment rewards can also be found with this card, with access to either Discover Connect by American Express, or Priceless Sydney and Mastercard Privileges, depending on which credit card you choose.

    Pros
    • Earn rewards points
    • Entertainment offers
    • 24/7 help if you lose your card overseas
    Cons
    • High interest rate
    • Annual fee charged
    • No complimentary insurance

    Who is it good for?

    Like most rewards credit cards, the Commonwealth Bank Standard Awards card is best suited to current members of Commbank Rewards, or those who want to join the program. For current Commonwealth Bank customers who are shopping around for the right rewards program, this credit card could be a good option.

    However, with this credit card’s high interest rate and moderate annual fee, it is not the best option if you don’t already pay off your credit card in full each month. With rewards points being this card’s main draw, it is best suited to medium and big spenders, who are more likely to see a return on their spending by earning more rewards points.

    Despite the air miles that you can earn with this card, it is not a suitable travel credit card, with no complimentary travel insurance, as well as international transaction fees.

    What RateCity says

    When it comes to rewards credit cards, the main point to consider is whether the rewards program on offer will suit the person considering the card. The Commonwealth Bank Standard Awards credit card allows customers to earn Commbank Rewards points on eligible purchases, which can be redeemed at Myer or Flight Centre, or transferred to your Qantas Frequent Flyer or Virgin Velocity account.

    The Commbank Rewards program is advertised as the largest rewards program of any bank in Australia. However, the process for earning and redeeming rewards points gets a little more complicated, with different amounts of points earned per dollar spent, depending on whether you choose Mastercard or American Express. More points are also earned when purchasing via Commbank’s official partners.

    With a high interest rate and moderate annual fee, customers should weigh up whether this rewards program will be worth the cost when considering the Commonwealth Bank Standard Awards credit card.

    Applying/eligibility

    To be eligible for the Commonwealth Bank Standard Awards credit card, you must be at least 18, not currently bankrupt and have the legal right to work in Australia. You can start the application process online, which should take less than 30 minutes - you can also expect a response within 60 seconds of lodging your application. If you are ready to apply, make sure you have a few personal items on hand, including proof of income and employment details.

    About the lender

    The Commonwealth Bank of Australia was established in 1911 as a government bank, and was later privatised in 1991. Also known as Commbank and CBA, it is headquartered in Sydney, but operates in countries worldwide across Asia, North America and Europe. Customers can reach Commbank at more than 1,100 branches, and via phone 24/7 for general enquiries and to report lost, stolen or damaged cards. Other enquiries are taken during standard and extended business hours.

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