Credit Card Compare

CommBank Ultimate Awards Credit Card

Data last updated 20 July 2026
20.99%
Purchase rate
$420
Annual fee
60,000
Bonus points

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CommBank Ultimate Awards Credit Card card
60 second approval
You may have seen us in
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CardIQ

39Basic

Basic

Overall score, out of 100 · How this works

  • Frequent flyer35
  • No foreign fee52
  • Qantas Points35
  • Rewards31
  • Sign-up bonus34
  • Travel50
  • Velocity Points35

Customer reviews

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Pros & cons

What's good

  • 60,000 bonus points to start, worth around $360 at our 0.6c-per-point valuation.
  • Complimentary international travel insurance.
  • No foreign transaction fee on overseas or online spending.
  • Earns 2 points per $1 on bonus categories and 3 points per $1 on overseas spend.
  • Points transfer to Qantas Frequent Flyer and Velocity Frequent Flyer.

Worth noting

  • The $420 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 3-point rate on overseas spend applies only to the first $10,000 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
$6,000 – $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
Eligible

Rates & fees

Ongoing interest rates

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

Fees

Additional cardholder fee
$0
Annual fee
$420 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
2 pts per $1 in bonus categories, up to $10,000 per statement period
Other purchases
1 pt per $1 on other purchases, up to $10,000 per statement period
Overseas spend
3 pts per $1 on overseas spend, up to $10,000 per statement period
ATO/government
None
Reduced rate above monthly cap
0.5 pts per $1 above $10,000 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
60,000 points

Also available

  • Earn Qantas Frequent Flyer points directly

Same card, different loyalty program. You choose at signup.

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.
Tokyo
Flying All Nippon Airways non-stop, using transferred Velocity points. Economy 45,000 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.

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
365 days
Not covered
Pre-existing conditions, unless the insurer agrees in writing

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)
Sign-up bonus$360Not as good as most cards (46th of 59 cards)
Annual fee$420 a yearAmong the most expensive (189th of 200 cards)

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

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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