Apply for a CommBank credit card and you could pay less interest, save money and earn more points.
Commonwealth offers a full range of credit cards designed to suit the various requirements of its customer base. Each card is tailored to suit a different type of cardholder with a mixture of features, rates, fees, rewards and extra benefits. You can compare and select a credit card that suits your finances, from a simple low interest rate or low fee, credit cards that provide rewards for your spending and prestigious gold, platinum and diamond cards.
No. You can apply for a CommBank credit card without having to switch from your existing bank.
Yes. Commonwealth Bank’s internet banking service, called NetBank, allows you to view and manage your credit card account securely online at anytime that suits you.
Yes. You can get your balance, make payments, etc. on the phone.
To reward customer loyalty, if you already have a qualifying account, when you apply for one of their credit cards the bank reduces or waives your card’s annual fee. The amount that is deducted form the annual fee depends on which card you apply for. Subject to CommBank’s terms & conditions.
The Awards program provides rewards for spending on your credit card. The bank offers standard, Gold, Platinum and Diamond Awards credit cards, each of which gains membership to one of Australia’s largest credit card rewards programs. Each time you make eligible purchases on your card you earn points, which can then be redeemed for an enormous choice of retail products and services, travel, gift cards and cash back on certain cards such as the CommBank Awards cards.
The bank’s Awards program offers a wide choice of rewards that you can exchange for points earned on purchases. Rewards include retail merchandise, travel products and services, entertainment, Commonwealth Bank financial products, charity donations, frequent flyer programs and cash back on relevant cards.
When you are a member of the Commonwealth Awards program you can browse the scheme’s store by logging into NetBank, find rewards and redeem points online. You can also redeem points by calling the Commonwealth Awards telephone service.
No. There is no expiry date on points, so you don’t have to worry about losing them.
Yes, there is a limit on how many Awards points you can earn; the number varies between different cards and depends on whether you have joined Qantas Frequent Flyer. The cap on all Commonwealth Award members’ points is reset each year on 1st January.
No. Generally, points are only earned on purchases. Other transactions such as BPAY transactions, cash advances and balance transfers do not earn points. Check the program’s terms and conditions to ensure the scheme suits your spending habits and the way you want to use your card.
To qualify you need to be age 18 years or over; be a citizen or resident of Australia; have a good credit history; and be able to make regular repayments. You also need to earn above a specified income threshold, which varies between the different credit cards. Making sure you meet these requirements before applying greatly increases you chances of getting approved.
When you have completed the application process you will be notified whether or not you have been approved. If successfully approved, your new credit card will be posted to you within 10 working days.
Today the Commonwealth Bank is one of the 'big four’ Australian banks, a leading provider of integrated financial services including retail banking, business banking, funds management, superannuation, insurance, investment and share trading services. Personal banking products include transaction accounts, savings, demand and term deposits, home and personal loans, and credit cards.
CommBank serves business customers with a full range of commercial products including accounts, loans, equipment and trade finance, and agribusiness services. The bank also provides services for corporations, major financial institutions and government bodies including financial market management, underwriting, trade and distribution, equities, payments and transactions, investment management and custody services.
The Commonwealth Bank was established in 1911 under the Commonwealth Bank Act and, unusually for an Australian bank of the time, was empowered to operate both savings and general banking. The bank’s first branch opened its doors in Melbourne in 1912, and also started traded through Australia Post agencies, an arrangement that remains to this day. The bank moved its headquarters to Sydney in 1916, and in 1920 started to take over central bank powers including responsibility for issuing Australian bank notes.
In the 1920s and 30s, Commonwealth Bank continued to expand its role in Australia’s central banking. Emergency legislation introduced during the second world war handed almost all central banking powers to the Commonwealth Bank, and these powers were used to expand the Australian economy after the end of the war. At the end of the 1950s, concerns over their dual role in the central and commercial sectors caused the government to split the bank. The central banking responsibilities were handed to the Reserve Bank of Australia while the Commonwealth Banking Corporation (CBC) continued to operate its commercial functions.
Commonwealth Bank Group diversified into the fields of home insurance and travel during the 1960s and 70s, and in 1974 launched Australia’s first credit card, called Bankcard. The bank later introduced credit cards provided by MasterCard (1984) and Visa (1993). Deregulation and the entry of foreign banks in the mid-1980s was a challenging time for Commonwealth Bank, a period that culminated in the organisation converting from a government-owned body to a fully-privatised company.
In 1991, CommBank merged with State Bank of Victoria to create Australia’s largest domestic bank. The bank introduced Maestro and Cirrus debit card services in 1993, launched an internet site in 1995, followed by a totally online banking service in 1997. Australian Banking and Finance Awards named Commonwealth Bank as Bank of the Decade in 1999, and Best Bank in 1996, 2000, and 2002. In the 21st Century, the Commonwealth Bank has further expanded its Asian and Pacific operations, strengthened its customer base and broadened its role as a diverse financial services institution.
The bank has a shareholder base totalling more than 800,000, has over 1,000 branches across Australia, almost 3,800 Australia Post agencies, 4,100 ATMs, supports 190,000 EFTPOS terminals and has 10 call centre’s answering more than 120 million calls each year.
