The CommBank Business Platinum Awards Credit Card has 70,000 bonus Awards Points on offer for new cardholders who apply by 28 February 2022.
New cardholders will receive 70,000 bonus Awards Points after spending $4,000 or more on eligible purchases within 90 days of card activation.
CommBank offers two business awards credit cards: Awards and Platinum. The Platinum card offers higher earn rates and extra features such as complimentary insurances and fee-free international transactions.
The CommBank Business Awards Platinum card participates in CommBank’s Awards program, allowing members to earn points for everyday business spend in addition to bonus points from select bonus partners. Points can be redeemed for rewards including travel products through Flight Centre, gift vouchers, merchandise, cashback and the transfer of award points to Qantas, Velocity or other frequent flyer programs.
The current 70,000 bonus Awards Points offer is equivalent to 35,000 Velocity Points or 28,000 Qantas Points when transferred. We cover the transfer rates to different programs in more detail further down in the guide.
How you could use the bonus points from this card
All redemption figures above exclude any accompanying taxes, fees and charges. Points redemption price data is provided by a third-party. For an exact total redemption cost, please consult with the airline directly.
Disclaimer: These are example redemptions only and due to COVID-19 travel restrictions, some of these routes may not be currently available.
Earning points with the CommBank Business Awards Platinum Card
|Card||Commonwealth Bank Business Platinum|
|Points earn rate||1 point per $|
|Points Cap||300,000 points per year|
|Minimum credit limit||$6,000|
|Extras||Transit Accident Insurance (PDS) and
Unauthorised Transaction Insurance
|Overseas transaction fee||3% on the Mastercard|
|Annual fee||$300 p.a.|
The CommBank Business Awards Platinum card will earn you 1 Award point for every dollar spent. You can also earn bonus points when shopping with bonus partners, including up to 15 bonus Award points per dollar spent when shopping with Kaligo and 10 bonus points with OnSport.
More commonly, 1 bonus Award point is awarded per dollar spent with most bonus partners. A full list of bonus partners can be found here.
You can earn up to 300,000 Award points on the card per year, which equates to 120,000 Qantas points and 150,000 Velocity points if transferring to airline frequent flyer programs, which usually represents better value than cashback and gift vouchers.
CommBank Awards Program
CommBank’s Awards Programs is one of Australia’s largest and most popular rewards program in Australia.
The program allows members to redeem Award points for a variety of awards, including merchandise, gift vouchers, cashback and travel booked directly with Flight Centre. A benefit of this tie-up between CommBank and Flight Centre is that there are no restrictions regarding seat, airline, dates or destinations.
You can also transfer your Award points to Qantas Frequent Flyer through direct sweep or to Velocity Frequent Flyer or one of the other frequent flyer program partners.
The transfer rate for 1 Award point is 0.4 Qantas Points or 0.5 Velocity Points.
Further details regarding the CommBank Awards Program can be found here.
Other features of the CommBank Business Awards Platinum card
To apply for a CommBank Business Awards Platinum card, your business must accept a minimum credit limit of $6,000 and pay an annual fee of $300, which is waived for CommBank home loan customers who take out a Wealth Package and elect this card as their complimentary card. Additional cards can be issued for $75 each.
The card comes with an unsecured credit limit of up to $50,000 and both Transit Accident Insurance and Unauthorised Transaction Insurance. Full details on the range of insurances included with the card can be found here Credit Card Insurance Product Disclosure Statement and Information Booklet
Note: Information is accurate at the time of publishing and may be subject to changes by CommBank at any time
This guide references some of the benefits of insurance policies provided with this card. You should read the PDS and obtain independent professional advice before obtaining this product.
The CommBank Business Awards Platinum card is a card that provides many benefits for businesses such as competitive earn rates compared with other business cards in the market and a wide variety of redemption options. It does fall a bit short in terms of insurance coverage, with only Transit Accident Insurance and Unauthorised Transaction Insurance offered.
The points cap of 300,000 points is on the low side, so for businesses with large annual expenses, this is a limitation that should be factored in.
If the flexibility of airline reward partners is also of importance to your business, then this card shines but the transfer rates are lower than comparable products from other banks.
Overall, this card is a relatively strong offering and provides many benefits that are unique to the market at a competitive cost. If you’re in the market for a business credit card linked to Qantas and/or Velocity, it is definitely worth considering.