Credit Card Profile: Commonwealth Bank Platinum Credit Card
October 26, 2009
Are typical rewards programmes not enticing enough for you? Do you think platinum cards should offer more — much more? Then consider the Commonwealth Bank Platinum credit card with not only a huge selection of benefits and rewards, but also the convenience of two credit cards and high minimum credit limits.
Learn more about the Commonwealth Bank Platinum credit card below and find out how you can combine the benefits of two credit cards into one perk-filled account to start getting more for your money.
Type of Credit Card: Rewards card / Balance transfer credit card
Interest Rates*: The Commonwealth Bank Platinum credit card certainly isn’t a low interest credit card with a purchase rate of 19.24% and a 20.24% APR on cash advances. However, it could prove to be a bargain if you’re looking for a high credit limit and low balance transfer rate. The introductory balance transfer rate on this credit card is 5.99% for five months. You’ll also receive up to 55 interest free days on purchases if you’d like to avoid paying interest altogether.
Annual Fee*: As with many platinum cards with rewards programmes, the Commonwealth Bank Platinum credit card comes with a high annual fee — in this case $280 per year ($250 for some qualifying customers). You’ll also have the option to add an additional cardholder for just $15.
Rewards / Extras*: The Commonwealth Bank Platinum credit card might seem to have high fees, but you get a lot for your money. The extensive rewards programme lets you earn up to 150,000 awards points during every calendar year which you can redeem for travel and shopping-related rewards. You’ll even have the option to put your rewards points towards charity donations.
In addition to being able to accrue and redeem rewards points, you’ll receive a wide variety of perks with the Commonwealth Bank Platinum card. For example you’ll have access to 24/7 personal concierge services, free international travel insurance, interstate flight inconvenience insurance, commission-free traveller’s cheques, special companion airfare deals, extended warranty insurance, and more!
Additional Details*: This credit card comes with a minimum $12,000 credit limit, and you’ll be able to access that credit limit with two different cards — a MasterCard and an American Express. No matter which card you use (to take advantage of their individual benefits), all of your charges will be reflected in a single statement.
* Interest rates, annual fees, and rewards programme details were taken from the most accurate data available at the time of writing. All rates are subject to change from the issuing bank, and their inclusion here in no way serves as a guarantee of rates. Please review rates and terms with the card issuer at the time of application.
