CommBank - Smart Awards credit card
Qantas Points
This credit card from CommBank has a $228 annual fee, and up to 44 days interest-free on purchases. It has a cash advance interest rate of 21.99% p.a.. There is a minimum credit limit of $3,000.
An annual fee of $228 and a purchase interest rate of 20.99% p.a..
Annual Fee
$228 per year
Cash Advance Rate
21.99% p.a.
Purchase Rate
20.99% p.a.
Interest Free Period
up to 44 days
Details
Card Type
Mastercard
Minimum Repayment
2% or $25
per statement, whichever is greater
Interest Free Period
up to 44
days
Minimum Credit Limit
$3,000
Fees
Annual Fee
$228
per year
Late Payment Fee
$20
per statement
Cash Advance Fee
3% or $4
per transaction, whichever is greater
Additional Card Holder Fee
$0
Additional Card Holder Cap
up to 1
additional holders
Rates
Purchase Rate
20.99% p.a.
Cash Advance Rate
21.99% p.a.
Overseas Spending
Foreign Currency Conversion Fee
0%
per transaction
Overseas Cash Advance Fee
3% or $4
per transaction, whichever is greater
Eligibility
Minimum Age
18
years old
Temporary Residents
No
Rewards
Program
Qantas Frequent Flyer
Types
CommBank Awards points
Bonus
40,000 bonus points
Reward Rates
Rewards Rate One
0.6 point(s) per AUD$1
On eligible purchases
Rewards Rate Two
0.8 point(s) per AUD$1
On highest eligible purchases
Perks
Complimentary Travel Insurance
Yes
Airport Lounge Access
Yes
Who is the product designed for?
These customers are likely to have the following objectives, needs, financial situation and must meet the eligibility criteria for this product:
Objectives and Needs
- Require a revolving credit facility with a convenient way to make payments and access cash by using the card attached to the facility
- Ability to earn awards points when spending on their card
- Ability to pay no monthly fee
- Access to interest free days on purchases
- Access to different insurance options and extended warranty
- Does not want to incur international transaction fees
- Access to spend and security controls
Financial Situation
The financial situation of the target market are customers that:
- meet CBA’s credit assessment criteria which includes demonstrating the capacity to service the credit card without substantial hardship
- Choose a credit limit typically above $3,000
- will pay a higher interest rate
- will pay a higher monthly fee (if criteria is not met for the fee waiver)
Eligibility Criteria
To hold this product, customers will need to satisfy certain eligibility criteria, including that customers must:
- be individuals aged 18 years or older
- have an Australian residential address
- meet CBA’s credit assessment criteria which includes demonstrating the capacity to service the credit card without substantial hardship.
Visit CommBank to view Target Market Determination Effective From: 2026-06-01.
