The CommBank Ultimate Awards Credit Card gives you a way to earn up to 1.2 Qantas Points per $1 on eligible spend. On top of that, there’s no foreign transaction fees, and you get access to travel insurance and paid access to over 1,300 airport lounges.
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CommBank Ultimate Awards Credit Card with Qantas Points
Terms and conditions apply
- Purchase rate
- 20.99% p.a.
- Reward points per $ spent
- 0.8
- Annual fee
- $480 p.a.
- Interest-free on purchases
- Up to 44 days
Our verdict
Offers no foreign transaction fees and included international travel insurance. But there is a $60 fee for choosing Qantas Points, on top of the card's monthly fee.
If you’re going overseas, the CommBank Ultimate Awards Credit Card offers its highest earn rate of 1.2 Qantas Points per $1 for eligible international transactions. And unlike most frequent flyer cards, this one has no international transaction fees. For spending in Australia, you earn 0.8 Qantas Points per $1 at major supermarkets, department stores and petrol stations and 0.4 Qantas Points per $1 on all other eligible spending. You’ll get these 3 earn rates for the first $10,000 of eligible spending in a statement period, then earn 0.2 Qantas Points per $1 for the rest of that statement period.
Pros
-
0% international transaction fees
-
Earn up to 1.2 Qantas Points for every $1 spent on eligible transactions made online and overseas
-
2 complimentary airport lounge passes per year with Mastercard Travel Pass
Cons
-
The accumulated $35 monthly fee adds up to a high annual fee of $480 p.a. if you don’t meet the fee waiver requirements, $60 Qantas opt-in fee
-
A lower earn rate of 0.2 Qantas Points per $1 applies for spending above $10,000 per statement period
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Offers up to 44 days interest-free on purchases, compared to other cards that offer up to 55 days
Details
Product details
| Product Name | CommBank Ultimate Awards Credit Card with Qantas Points |
| Purchase rate p.a. | 20.99% |
| Interest-free period | Up to 44 days on purchases |
| Cash advance rate p.a. | 21.99% |
| Min credit limit | $6,000 |
| Card type | Mastercard |
Eligibility
| Available to temporary residents | Yes - Conditions apply |
| Joint application | No |
Rewards
| Rewards program | Qantas Frequent Flyer |
| Bonus points | N/A |
| Rewards points per $ spent | 0.8 |
Fees
| Annual fee | $480 |
| Minimum monthly repayment | 2% of the closing balance or $25, whichever is greater |
| Late payment fee | $20 |
| Foreign currency conversion fee | 0% |
| Cash advance fee | 3% or $4, whichever is greater |
| Overseas cash advance fee | $3 or 3% of the transaction amount, whichever is greater |
| Additional cardholder fee | $0 |
| Number of additional cardholders | 1 |
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Amy Finder
Editor
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Amy Bradney-George Finder
August 25, 2023
Hi Linda,
Mastercard Travel Pass offers different benefits depending on the linked card. These will be visible in the Mastercard Travel Pass app. According to the Mastercard Travel Pass website, members can get access to entitlements for participating lounges, which can be viewed in the app. If you have questions or further thoughts about the service, you can message CommBank through the CommBank app or call 13 22 21. I hope this helps.
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Philomina Gunasekera
April 02, 2023
What expenses are covered under eligible spending? Does this include ATO, Council Rates and other utility costs?
Amy Bradney-George Finder
April 05, 2023
Hi Philomena,
Eligible spending includes most retail purchases. For example, groceries, petrol, dining out and travel bookings. According to the CommBank Awards terms and conditions, transactions that you won’t earn points for include BPAY payments and ATO payments – unless they’re made with a CommBank Business Awards card. The terms and conditions include a list of excluded transactions and, while rates and utilities are not mentioned by name, there is a statement that other transactions may be excluded “from time to time”, with notification in a guide and/or on the CommBank Awards website.
The full details for earning CommBank Awards Points and Qantas Points are available in the terms and conditions booklet on the CommBank website (here is the currentpdf, dated 1 August 2021). If you have further questions, you can also contact CommBank Awards on 13 16 11. I hope that helps.
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Aman
March 27, 2023
whats difference between ultimate awards , Diamond rewards, platinum awards, awards
Amy Bradney-George Finder
March 31, 2023
Hi Aman,
Those names refer to the different CommBank Awards credit cards, which each earn a different rate of points per $1, have different annual fees and offer different perks. As a basic example, the Diamond and Ultimate cards have higher annual/monthly account fees than the Platinum or Awards cards – and also earn higher rates of points per $1 spent. You can see side-by-side details of the cards in Finder’s guides to CommBank Credit Cards and the CommBank Awards Program. I hope that helps.
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Foti
March 13, 2023
Hi,
I wanted to ask two questions with relation to this commbank credit card:
1. If I have an additional card member, will their cash spent per month contribute to meeting the $2.5k a month – which will waive the monthly fee for me?
2. Will the additional card member’s cash spent contribute to earning me Qantas points?
Thanks.
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Amy Bradney-George Finder
March 14, 2023
Hi Foti,
Thanks for these questions, here are the answers:
1. The monthly fee will be waived if you spend at least $2,500 in your statement period and choose to receive online statements. This would include spending by an additional cardholder as the charges are still added to the primary cardholder’s account (i.e. you). Keep in mind that there is a $30 yearly fee when you choose to earn Qantas Points, which is separate to the monthly fee.
2. The additional card members eligible spending would earn Qantas Points per $1 spent for your linked Qantas Frequent Flyer account. Note that they can’t add their own Qantas Frequent Flyer details.
Hope that helps!
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Linda
August 22, 2023
Regarding: “Airport lounge access via Mastercard Travel Pass. The CommBank Ultimate Awards Credit Card gives you access to over 1,300 airport lounges through Mastercard Travel Pass, a service provided by DragonPass. You need to register your credit card through the app or online, then show your membership QR code and valid boarding pass at the lounge. Each visit will attract a fee from the lounge, which is charged to your credit card..”
What exactly is the benefit when you still have to Pay for the lounge use? I was there last week, was not offered access, was charged a fee.
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