How to Apply for your Ultimate Awards Credit Card
The CommBank Ultimate Awards Credit Card offers various benefits, including no international transaction fees and access to the CommBank Awards Program, where cardholders can earn points on everyday spending.
With a purchase rate of 20.99% p.a. and a $35 monthly fee, the card’s fee is waived if you spend at least $2,500 per month. Additionally, it provides complimentary international travel insurance and access to over 1,300 airport lounges via Mastercard Travel Pass, although lounge visits incur a fee.
This card is designed for frequent travelers and shoppers who make international purchases, offering up to 3 Awards points or 1.2 Qantas Points per $1 spent on eligible transactions. It includes purchase insurance, access to the Mastercard Priceless Cities Program, and the ability to redeem points for cash, gift cards, or travel rewards.
Cardholders can also manage their account through the CommBank app, which offers features like spending caps and fraud protection.
Benefits of the Ultimate Awards Credit Card
The CommBank Ultimate Awards Credit Card offers a variety of perks tailored to frequent travelers and high spenders. With no foreign transaction fees and the ability to earn points through the CommBank Awards Program or Qantas Points Program, this card provides multiple avenues for rewards, including travel benefits and access to exclusive experiences.
Below are some of the key benefits of this card, along with detailed explanations:
No International Transaction Fees
This card allows you to make international purchases or shop online from foreign retailers without paying any additional fees. This feature is particularly valuable for frequent travelers or those who shop online from global vendors, as it can save up to 3% on each foreign transaction.
CommBank Awards Points Program
Cardholders can earn up to 3 Award points per dollar on eligible international purchases, 2 points per dollar at major Australian supermarkets and petrol stations, and 1 point on all other purchases. These points can be redeemed for a wide variety of rewards, including gift cards, travel, and cashback. After spending $10,000 in a month, the points earned reduce to 0.5 points per dollar.
Included International Travel Insurance
The card offers comprehensive travel insurance covering medical, baggage, and travel delays.
It applies not only to the cardholder but also to family members traveling with them. There’s no spending requirement to activate the insurance, making it straightforward and cost-effective for frequent travelers. This insurance is available when you spend at least $500 in a single transaction on prepaid travel using your card and activate before you travel.
Airport Lounge Access
With this card, you gain access to over 1,300 airport lounges globally via Mastercard Travel Pass.
While there is a fee for each visit, this benefit provides convenience and comfort during travel. Registration through the Mastercard Travel Pass app is required to utilize this service.
Qantas Points Program
Dreaming of your next holiday? Join the Qantas Points Program for just $60 per year and start earning unlimited Qantas Points with Ultimate Awards. Enjoy rewards like flights from 8,000 points (plus taxes and fees), upgrades, hotel stays, or shopping at the Qantas Marketplace.
Earn up to 1.2 Qantas Points per $1 spent on eligible purchases up to $10,000 in a statement period. Your points won’t expire as long as you earn or redeem them at least once every 18 months. With the Qantas Points Program, your next getaway is just a purchase away!
Compatibility with Digital Wallets
The card is compatible with various mobile payment platforms, including Apple Pay, Google Pay, Samsung Pay, and even fitness trackers like Fitbit Pay and Garmin Pay. This ensures secure, convenient, and contactless payments whether you’re shopping in-store or online.
Prerequisites to Obtain the Ultimate Awards Credit Card
To apply for the CommBank Ultimate Awards Credit Card , applicants must meet several requirements. Below are the key prerequisites:
- Age and Residency: Applicants must be at least 18 years old. The card is available to both permanent and temporary residents of Australia, but temporary residents must provide valid visa details showing they have the legal right to live in Australia.
- Credit Rating: A good credit rating is essential, and applicants must not have any current bankruptcies. This helps ensure that the applicant can manage credit responsibly.
- Minimum Income and Credit Limit: While specific income requirements aren’t always disclosed publicly, the card has a minimum credit limit of $6,000, suggesting that applicants should have a reasonable income level to manage repayments and meet spending thresholds.
- Spending Requirement to Waive Monthly Fee: To avoid the $35 monthly fee (which adds up to $420 annually), cardholders must spend at least $4,000 per month during their statement period. This is an important financial consideration for applicants who wish to avoid this fee.
- Required Documents: Applicants must provide personal information, proof of identification (such as a driver’s license or passport), and financial details including income, employment, and expenses. This ensures the bank has enough information to assess the applicant’s creditworthiness.
More About Commonwealth Bank as a Financial Institution
The Commonwealth Bank of Australia (CommBank) was established in 1911 by the Australian government under the Commonwealth Bank Act, beginning operations in 1912. Initially, the bank was founded to conduct both savings and general banking services with the security of a federal government guarantee.
Over the years, CommBank has grown into one of Australia’s “big four” banks and now operates internationally with subsidiaries in New Zealand, Asia, the United States, and the United Kingdom.
CommBank was fully privatized by 1996 and is listed on the Australian Securities Exchange. As of 2024, it is the largest bank in Australia by market capitalization and continues to play a significant role in the financial sector, offering a full range of banking, insurance, and investment services.
The bank has over 800,000 shareholders and employs more than 52,000 people, making it a key player in the Australian economy.
Who is this Card for?
The CommBank Ultimate Awards Credit Card is aimed at frequent travelers, high spenders, and those who regularly make international purchases. It is ideal for customers who can meet the minimum monthly spend of $4,000 to avoid the $35 monthly fee.
The card is designed for individuals who seek rewards points from everyday purchases, such as groceries, fuel, and international transactions, and who would benefit from perks like no international transaction fees and complimentary travel insurance.
Additionally, it suits those who prioritize earning rewards points that can be redeemed for travel, gift cards, or cashback.
Step by Step to Apply for the Card
To apply for the CommBank Ultimate Awards Credit Card , follow these steps:
- Eligibility Check: Ensure you meet the basic eligibility criteria, including being at least 18 years old, having the legal right to work in Australia if you’re a temporary resident, and holding a good credit score with no current bankruptcies.
- Gather Required Documents: You will need personal identification (such as a driver’s license or passport), details of your income, employment information, and financial commitments (like loans or credit cards).
- Start Your Application: Visit the official Commonwealth Bank website to begin your application online at CommBank Ultimate Awards Credit Card.
- Complete the Online Form: Fill out the secure application form with your personal, financial, and employment details. This step typically provides an instant response.
- App Integration: After approval, download the CommBank app for easy card management. The app is available for both Android and iOS, where you can activate your card, manage your spending, and set payment alerts.
Ultimate Awards Credit Card Pros and Cons
Before applying for any credit card, including the CommBank Ultimate Awards Credit Card, it’s important to carefully weigh both the benefits and potential downsides.
While features like rewards points and international fee waivers can be appealing, factors such as high interest rates and monthly fees could affect the card’s overall value.
Evaluating how the card aligns with your financial habits will help ensure that it’s a good fit for your needs, rather than leading to unnecessary costs.
Pros
- No International Transaction Fees: This card is ideal for frequent travelers or those who shop online from overseas, as it does not charge foreign transaction fees, saving up to 3% on every purchase.
- Rewards Points: Earn up to 3 CommBank Awards points per $1 on eligible international purchases, and points can be redeemed for travel, gift cards, or cash back. Points can also be converted to Qantas Frequent Flyer points.
- Comprehensive Travel Insurance: The card offers international travel insurance covering medical expenses, travel delays, and lost baggage for you and your family, which is activated via the CommBank app or online.
- Airport Lounge Access: Cardholders gain access to over 1,300 airport lounges through Mastercard Travel Pass, though a fee applies for each visit.
- Interest-Free Days: Enjoy up to 44 days of interest-free purchases if you pay your balance in full by the due date.
Cons
- High Monthly Fee: The card charges a $35 monthly fee ($420 p.a.), which can be waived only if you spend $4,000 or more within the statement period. This is relatively high compared to other cards.
- High Interest Rates: Purchases are subject to a 20.99% interest rate, and cash advances incur an even higher 21.99% rate. This makes carrying a balance costly.
- Point Reduction After Spending Cap: Once you exceed $10,000 in eligible purchases in a statement period, the rate drops to 0.5 points per dollar spent, which significantly reduces point-earning potential.
- Fee for Qantas Points: If you opt to earn Qantas Points instead of CommBank Awards points, an additional annual fee of $60 applies.
How to Activate the Card?
To activate your CommBank Ultimate Awards Credit Card, you can use one of several methods. The most straightforward way is to log in to NetBank or the CommBank app, where you can find the option to activate your card. You will need to:
- Go to the settings in your NetBank account or CommBank app.
- Select “Card activation” under the security section.
- Enter the last four digits of your card.
- Set and confirm your PIN.
- A NetCode will be sent to your registered mobile number, which you will need to enter to finalize the activation.
Alternatively, you can call CommBank customer service to activate the card (13 1661. The entire process ensures your card is secure and ready for use. For more details, you can visit the official page for card activation here.
Fees and Tariffs
The CommBank Ultimate Awards Credit Card comes with several fees that potential cardholders should consider:
- Monthly Fee: The card charges a $35 monthly fee, which adds up to $420 annually. However, this fee is waived if you spend at least $4,000 per statement period.
- Purchase Interest Rate: The card applies a 20.99% p.a. interest rate on purchases if the balance is not paid in full.
- Interest-Free Days: You can benefit from up to 44 days interest-free on purchases, provided the balance is paid in full by the due date.
- Cash Advance Fees and Rate: Cash advances incur a 21.99% p.a. interest rate, along with a fee of 3% or $4, whichever is greater.
- Foreign Transaction Fees: One major advantage is the 0% foreign transaction fee, which can save money on international purchases.
- Late Payment Fee: If you miss your payment due date, a $20 late payment fee is applied.
These costs should be weighed carefully against the card’s benefits, such as no foreign transaction fees and travel perks, to determine if they fit your financial situation.
Customer Service
For assistance with the CommBank Ultimate Awards Credit Card, there are several official channels available:
Phone Support:
- For general banking enquiries, you can call 13 2221 (available from 6 am to 10 pm, any day in Australia).
- For specific CommBank Awards program-related queries, contact 13 1661 (Monday to Friday, 8 am to 8 pm Sydney/Melbourne time).
Online Support:
- Visit the official CommBank support page for general assistance.
- You can also get help via the CommBank app by messaging their virtual assistant, Ceba.
Mailing Address:
You can write to CommBank at GPO Box 2674, Sydney NSW 2001
