The CommBank Ultimate Awards card attracts applicants mainly due to its strong benefits and a range of fee waivers for those who like saving.
It has no international transaction fees for overseas or online purchases and offers the chance to waive the monthly fee if you spend at least $4,000 during the statement period.
Need another great reason to consider this card? CommBank Yello customers can choose between two sign-up bonuses when applying: earn up to 100,000 CommBank Awards points or up to 60,000 Qantas points, depending on your spending in the first four months after approval.
Terms and conditions apply to this offer, but the Ultimate Awards already stands out with some great perks.
What makes this card special:
- High points earning rate
- Cashback offers through the CommBank Ultimate Awards Card Yello Cashback platform in the app
- No international transaction fees: No extra costs for overseas or online purchases
- Monthly fee waiver: Spend $4,000 or more in your statement cycle and skip the monthly fee
- Complimentary international travel insurance: Offers peace of mind when you’re abroad
- Access to airport lounges: 2 annual Mastercard Travel Pass invitations to access over 1,300 exclusive airport lounges worldwide
- Additional cards at no extra cost
- Up to 44 interest-free days on purchases
- Travel Booking: Easy access to hotel and flight bookings through the CommBank app
- Exclusive Priceless offers
- Touch Card feature for easier card use for visually impaired customers
How does the points system work?
With the Ultimate Awards card, you’ve got two options for earning points: earn up to 3 CommBank Awards points per dollar on eligible purchases or collect 1.2 Qantas points per dollar with an additional annual fee of $60.
But keep in mind, this point-earning rate applies up to a spending limit of $10,000. After that, the rate drops to 0.5 CommBank Awards points or 0.2 Qantas points per dollar for the rest of your statement period.
The flexibility to choose your preferred program allows you to pick the rewards that best suit your lifestyle, whether it’s racking up points for products and services or saving for your next Qantas trip.
Make your travel experiences even more special
First off, this card is a fantastic companion for your trips, with global acceptance, lounge invites, and partnerships with the Travel Booking platform to help you find the best deals on flights and hotels.
It also comes with complimentary insurance that covers you on overseas trips, as long as you meet the activation criteria.
First, spend at least $500 in one transaction on prepaid travel costs using your credit card and then activate the travel insurance before your departure date.
Redeeming points for travel expenses via CommBank Awards is also an option.
Key fees of Commbank Ultimate Awards Card
- Additional cardholder fee: $0
- Monthly fee: $35 or $0 if you meet the minimum spending threshold
- Qantas points opt-in fee: $60 per year
- Late payment fee: $20
- Purchase interest rate: 20.99% p.a.
- International transaction fees: 0%
- Cash advance: 21.99% p.a.
Downsides of your Commbank Ultimate Awards Card
If you spend less than $4,000, you’ll be charged the $35 monthly fee, making this card more suitable for those who tend to use a large portion of their credit limit most of the time.
Also, not all purchases earn the same amount of points, and some categories might not be eligible for points at all.
To collect Qantas points, you must be a member of the frequent flyer program, and the $60 annual fee, though low compared to other premium cards, is still a cost to factor in.
Final thoughts
The benefits make a lot of sense, especially for those who shop internationally or are looking to earn travel points.
Perks like complimentary travel insurance and no international fees could make it a great option for those spending more than $4,000 per month, who will get the most out of its features.
Overall, the Ultimate Awards is a solid card, ideal for big spenders and frequent travellers looking to streamline their shopping and enjoy more comfortable, affordable trips.