Commonwealth Bank Ultimate Awards (Qantas Points)

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Commonwealth Bank
Ultimate Awards (Qantas Points)

Google Pay
Balance transfer

Purchase rate p.a.

20.99%

Balance transfer rate

21.99%

Annual fee

$420

Commonwealth Bank Ultimate Awards (Qantas Points)

Google Pay
Balance transfer

Pros and Cons

For Commonwealth Bank Ultimate Awards (Qantas Points)

Benefits

Rewards Available through Qantas Frequent Flyer
Extra 70,000 points subject to eligibility conditions
Annual fee of $420 is refunded when you spend $4,000 on purchases every 1 months
Ability to convert large purchases into instalment plans
Domestic travel insurance
International travel insurance
Extended warranty
Vip seating
Concierge
Special events
Airport lounge
Fraud protection
Purchase protection insurance

Drawbacks

Higher than average ongoing variable purchase rate
Higher than average ongoing annual fee
Does not offer free supplementary cards

Commonwealth Bank Rate Credit Card overview

For Ultimate Awards (Qantas Points)

Details

Card level

Premium

Card type

MasterCard

Interest free days

Minimum monthly repayment

2% or $25

Minimum credit limit

$6,000

Maximum credit limit

Free supplementary cards

Instant approval

Target Market Determination

Visit Commonwealth Bank of Australia to view Target Market Determination.

Fees

Annual fee

$420

Annual Fee Spend Waiver

$4k

Supplementary card annual fee

Late payment fee

$20

Over limit fee

$15

Duplicate statement fee

Electronic Wallet Service

Apple pay available

Google pay available

Samsung pay available

Important Rates

Rates

Purchase rate p.a.

20.99%

Cash advance rate

21.99%

Cash advance fee

3% or $4

Balance Transfer

Balance transfer rate

21.99%

Transfer limit

100%

of the approved credit limit

Balance transfer fee

Overseas spending

Foreign exchange fee

Overseas charges

$2.5

Estimated ATM cost

$2.5

for AU $300 withdrawal

Rewards

Program name

Qantas Frequent Flyer

Rewards available

Gift Card, Domestic Flights, International Flights, Flight Upgrades, Qantas Shop, Qantas Hotels

Eligibility

Minimum age

Minimum income

Eligibility conditions

Residency

Perks

DOMESTIC TRAVEL INSURANCE

INTERNATIONAL TRAVEL INSURANCE

when you spend at least $500 in a single transaction on prepaid travel using your card and activate before you travel.

EXTENDED WARRANTY

Warranty is extended for the same duration as the original warranty up to 1 year.

VIP SEATING

CONCIERGE

SPECIAL EVENTS

AIRPORT LOUNGE

FRAUD PROTECTION

PURCHASE PROTECTION INSURANCE

Other Restrictions

$60 annual fee for opting in to join Qantas Rewards program. You must be a member of the Qantas Frequent Flyer program to earn and redeem Qantas Points.