Credit Card Compare

CommBank Business Platinum Awards Credit Card

13 reviews
Data last updated 20 July 2026
20.74%
Purchase rate
$300
Annual fee
55 days
Interest-free

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CommBank Business Platinum Awards Credit Card card
60 second approval
You may have seen us in
The Sydney Morning HeraldNews.com.auYahoo! FinanceDaily Mail Australia

CardIQ

31Basic

Basic

Overall score, out of 100 · How this works

  • 55 days interest-free43
  • Business28
  • Frequent flyer23
  • Rewards23
  • Travel44
  • Velocity Points23

Customer reviews

4.0

Based on 13 reviews

Most of the praise went to day-to-day use, with fees the occasional sticking point.

KarenRecommends

MasterCard great, AmEx not very useful

I find MasterCard is better to have than Visa as it appears to be accepted everywhere. I don’t like the bonus American Express card. I didn’t activate it and have never used it, as the fees are higher and it’s hardly accepted anywhere.

DanicaRecommends

Great rewards, good rates

I’ve always had great results with my card, but I wish the access to my rewards was a little clearer and easier to find the best choice for me personally. I like the fact I get double points by being able to use my AmEx card as well as my MasterCard. Using this as my spending…

KaneDoesn't recommend

Qantas points, travel insurance

I get Qantas frequent flyer points with every purchase. The AmEx card gives me 2 points per dollar I spend and the MasterCard gives me 1 point per dollar. The cards look quite nice but I don’t believe they are worth the $250 a year annual fee I get charged. On the plus side,…

MelissaRecommends

Fantastic service and security

I know with my card that I am protected by Commonwealth Bank, for both fraudulent transactions through to travel insurance when I move around. Customer service at my local branch is fantastic. They know me on a first-name basis and are so helpful all the time. The children all…

AnnikaRecommends

Account linking provides easy financial control

I’ve had this credit card for over four years now. I love the low interest rate and the optional low repayments. Usually, I absolutely hate owing money to anyone, but with the way this credit card works and is connected to my everyday access as well as my savings account, it…

IshitaRecommends

Awards points outweigh high fee

It’s really convenient, with both an AmEx and a MasterCard. It’s also very easy to redeem points through CommBank Awards and Myer. Annual fees are high but easily made up for by accumulating points. It’s also great to use NetBank, which has many convenient features including…

LivernRecommends

A little expensive but a lot of perks

One of the best things about the card is the complimentary travel insurance you get when you travel. All you have to do is let Commbank know beforehand when you’re going on holidays. Having both an AmEx and MasterCard collecting points to the same account is really convenient as…

RachDoesn't recommend

Average card

I was given this card as i am a loyal member of the Commonwealth Bank. There are no fees, I have good interest rates, and the security of the card is meant to be increased. But during my use of the card (apart from payWave) I have not noticed a difference. I do not receive…

GregRecommends

Never had a problem with this card yet

I have this card as I travel a lot. It has good and bad points like all cards, but in the long the card does everything for me that I need it to. Having this card has been a good move for me. I also tell people that it is a bargain for anyone.

TroyDoesn't recommend

I spent to much money with the card

The credit card is great and handy. I spent too much money because it’s so convenient. Having excess money to spend is not really a great idea, but that’s what the bank wants. The late fees and interest is ridiculously high and I think that once I pay the bank I wont use a…

Pros & cons

What's good

  • Complimentary travel insurance, transit accident insurance and unauthorised transaction insurance.
  • 1.5% foreign transaction fee, below the 3% most cards charge.
  • Points transfer to Velocity Frequent Flyer.
  • Earns 1 point per $1 on ATO and government payments, the same rate as everyday spend.

Worth noting

  • The $300 annual fee is high for a Platinum card, where the typical fee is about $155.
  • The 20.74% p.a. purchase rate sits above the 18.99% p.a. median if you carry a balance.
  • Earns 1 point per $1 on everyday spend, around the dataset average.
  • Points earning is capped at 300,000 points a year.

Card details

The basics

Additional cardholder fee
$75 p.a.
Card tier
Platinum
Card type
Mastercard
Card use
Business
Credit limit
$6,000 – $50,000
Credit rating
Good
Rewards program
CommBank Awards Program

Eligibility

Instant approval
Yes (response in ~60 seconds)
Joint application
No
Minimum age
18 years old
Minimum income
Not specified
Residency
Australian citizen or permanent resident
Temporary residents
Eligible

Rates & fees

Ongoing interest rates

Cash advances
21.74% p.a.
Purchases
20.74% p.a.

Fees

Additional cardholder fee
$75
Annual fee
$300 p.a.
Cash advance fee
1.5% of the amount
Foreign transaction fee
1.5%
Late payment fee
$20

Repayments

Interest-free period
Up to 55 days on purchases
Minimum repayment
2% of the closing balance or $25, whichever is greater

Balance transfers

This card has no promotional balance transfer offer. To move existing debt to a lower rate, compare balance transfer cards.

Introductory purchase offer

This card has no introductory purchase rate offer. If you're carrying a balance or planning a big spend, compare 0% purchase cards.

Rewards

Earn rate

Everyday spend
1 pt per $1
Bonus categories
None
Other purchases
None
Overseas spend
None
ATO/government
1 pt per $1 on ATO and government payments
Reduced rate above monthly cap
None
Points cap
Maximum 300,000 points per year
Points expiry
Points don't expire while your account is open and in order.

Sign-up bonus

Bonus spend required
Sign-up bonus

Transfer partners

Velocity Frequent Flyer
2 pts → 1 pt (≈ 0.5 pts per $1)

Where these points could take you

Auckland
Flying Virgin Australia non-stop, using transferred Velocity points. Economy 17,900 pts.

Flights you could book with the sign-up bonus plus a year of spending $3,000 a month on this card. One-way from Sydney or Melbourne, one adult, before taxes and carrier charges. Award prices and seat availability change.

Complimentary insurance

Cover has conditions and exclusions, which are set out in the issuer's PDS. A missing row means we haven't captured that figure, not that the cover is absent.

Overseas travel

Activation
Prepay part of the trip on the card
Activation spend
$500
Cover limit
Unlimited
Excess
$500
Maximum trip length
90 days
Not covered
Pre-existing conditions, unless the insurer agrees in writing

Where this card sits vs similar cards

Compared with every other business credit card we list that has the feature. The further right the dot, the better this card does.

Interest-free days55 daysTied for best (1st of 37 cards)
Overseas fee1.50%Top 10% (2nd of 39 cards)
Rewards value$216 a yearNot as good as most cards (15th of 21 cards)
Annual fee$300 a yearNot as good as most cards (33rd of 39 cards)
Purchase rate20.74%Among the weakest we track (33rd of 34 cards)

Data as at August 2026. Rates change often, so check the issuer's terms. Factual information, not a recommendation.

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