Credit Card Compare

CommBank Smart Awards Credit Card

Data last updated 20 July 2026
20.99%
Purchase rate
$228
Annual fee
40,000
Bonus points

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

CardIQ

45Fair

Fair

Overall score, out of 100 · How this works

  • Frequent flyer40
  • No foreign fee62
  • Qantas Points40
  • Rewards39
  • Sign-up bonus36
  • Travel60
  • Velocity Points40

Customer reviews

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Pros & cons

What's good

  • 40,000 bonus points to start, worth around $240 at our 0.6c-per-point valuation.
  • No foreign transaction fee on overseas or online spending.
  • Earns 1.5 points per $1 on bonus categories.
  • Points transfer to Qantas Frequent Flyer and Velocity Frequent Flyer.
  • No fee to add an additional cardholder.

Worth noting

  • The $228 annual fee is high for a Standard card, where the typical fee is about $50.
  • The 20.99% p.a. purchase rate sits in the most expensive quarter of cards (the median is 18.99% p.a.) if you carry a balance.
  • Earns 1 point per $1 on everyday spend, around the dataset average.
  • The 1.5-point rate on bonus categories applies only to the first $5,000 spent each statement period, then drops to 0.5 points per $1.

Card details

The basics

Additional cardholder fee
$0 p.a.
Card tier
Standard
Card type
Mastercard
Card use
Personal
Credit limit
$3,000 – $100,000
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
Not eligible

Rates & fees

Ongoing interest rates

Cash advances
21.99% p.a.
Purchases
20.99% p.a.

Fees

Additional cardholder fee
$0
Annual fee
$228 p.a.
Cash advance fee
3% of the amount
Foreign transaction fee
0%
Late payment fee
$20

Repayments

Interest-free period
Up to 44 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
None
Bonus categories
1.5 pts per $1 in bonus categories, up to $5,000 per statement period
Other purchases
1 pt per $1 on other purchases, up to $5,000 per statement period
Overseas spend
None
ATO/government
None
Reduced rate above monthly cap
0.5 pts per $1 above $5,000 per statement period
Points cap
Uncapped
Points expiry
Points don't expire while your account is open and in order.

Sign-up bonus

Bonus spend required
—
Sign-up bonus
40,000 points

Transfer partners

Qantas Frequent Flyer
5 pts → 2 pts (Requires QFF Direct opt-in ($90/yr), ≈ 0.4 pts per $1)
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, Business 35,500 pts.
Singapore
Flying Singapore Airlines non-stop, using transferred Velocity points. Economy 29,000 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.

Where this card sits vs similar cards

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

Overseas feeNo feeTied for best (1st of 200 cards)
Rewards value$216 a yearMiddle of the market (54th of 95 cards)
Purchase rate20.99%Not as good as most cards (125th of 196 cards)
Interest-free days44 daysNot as good as most cards (141st of 192 cards)
Annual fee$228 a yearNot as good as most cards (158th of 200 cards)
Sign-up bonus$240Among the weakest we track (54th of 59 cards)

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

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Questions and answers

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Sources

Credit Card Compare
Australian credit card statisticsHow CardIQ scores cards
Government
Product reference data (Consumer Data Right)
Issuer
Commonwealth Bank