CommBank Ultimate Awards Credit Card (with $4000 per month spend)
Churn value: $625 in gift cards.
You pay $175 in first-year fees.Spend $9,000 in 90 days.You get $200 in Myer gift cards.
The recorded minimum requirements are that you can take a credit limit of at least $6,000. Meeting them does not guarantee approval.
It is only worth it if you pay in full each month and close the card before the next $420 fee.
Available
This page is my best effort to summarise the card's terms from the information I found. Read the bank's terms for full details, or contact the bank if you have questions.
I'd like to use my bonus for:
Can I get this?
This offer is advertised to the public. Bonus conditions and the bank’s approval requirements still apply.
Can I get this bonus if I have held a card before?
This offer is only available for new Ultimate credit card applications. You are not eligible if you currently hold, or have held, any activated Awards card types (standard, gold, platinum, diamond, smart or ultimate) or Smart and Ultimate cards in the previous 24 months as a primary cardholder, or if you switch from another card type to an Ultimate credit card. The offer is limited to one credit card per customer. The wait is 24 months, from the last date you held one of these cards. If you hold one now, you cannot get this bonus.
See the waiting rules for every Australian bank →What must I spend?
$9,000 within 90 days — about $3,000 per month.
Can I get the card?
The minimum credit limit is $6,000. This is the least the bank may let you borrow.
I do not have a minimum income for this card.
Meeting the bonus rules does not mean the bank will approve your application. The bank must assess and approve the card separately.
How long is this available?
I do not have an end date for this offer.
What do I do, step by step?
- Apply. Check the income and waiting rules in “Can I get this?” first. If you do not pass those, the bonus does not come.
- Spend $9,000 in 90 days on bills and shopping you had to pay anyway. Do not buy extra things just to hit the number.
- Pay in full each month. Interest can eat the whole bonus. The churn value at the top assumes you never pay interest.
- Use the points for gift cards. Points you never use are worth zero.
- Close the card before the next fee — keeping it costs $420 a year. The next section helps you decide if keeping it is worth it.
When this is not worth it
- You pay interest, or you cannot pay in full each month.
- You buy things you do not need to hit the spend target.
- You have no trip or use in mind for the points.
- You keep the card into year two out of habit and pay the fee again.
Should I keep it after the first year?
Keeping the card costs $420 each year ($35/month annualised) — the first year was $175.
The year-two bonus is 50,000 Yello points.
Ongoing earn: 0.50x Yello points per $1.
Keeping pays off only if you meet the second-year conditions and use the points and benefits enough to cover $420/yr.
What else makes the card useful?
Reward use
Ways to turn points into value.
- Points Transfer Benefits Compare across cards →Opt-in (for $90/year) to transfer CommBank Awards points to Qantas Frequent Flyer; points auto-transfer each statement period at 2.5 CommBank Awards points to 1 Qantas Point
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Opt-in (for $90/year) to transfer CommBank Awards points to Qantas Frequent Flyer; points auto-transfer each statement period at 2.5 CommBank Awards points to 1 Qantas Point
Purchase protection
Cover on things you buy with the card. Limits, excesses, and activation conditions apply.
- Purchase Protection Insurance Compare across cards →Purchase Security: new items bought on the card (or via Awards points redemption) covered against loss, theft or damage for 90 consecutive days from purchase; $100 excess; up to $200,000 per 12-month period for personal Ultimate Awards cardholders
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Purchase Security: new items bought on the card (or via Awards points redemption) covered against loss, theft or damage for 90 consecutive days from purchase; $100 excess; up to $200,000 per 12-month period for personal Ultimate Awards cardholders
- Extended Warranty Insurance Compare across cards →Extends the manufacturer's Australian warranty on eligible items charged to the card by a period equal to the original warranty, up to a maximum of one extra year (no cover where the Australian warranty exceeds 5 years); $100 excess; up to $20,000 per 12-month period for…
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Extends the manufacturer's Australian warranty on eligible items charged to the card by a period equal to the original warranty, up to a maximum of one extra year (no cover where the Australian warranty exceeds 5 years); $100 excess; up to $20,000 per 12-month period for personal Ultimate Awards cardholders
Travel
Travel cover and perks. Most need qualifying bookings or payment with the card.
- Lounge Access Compare across cards →2 visits/year · Mastercard Travel Pass (DragonPass)
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Two complimentary airport lounge visits each calendar year per account via Mastercard Travel Pass provided by DragonPass (over 1,300 lounges worldwide); must register the card at mastercardtravelpass.dragonpass.com to generate a membership QR code; each visit usable by primary cardholder or guest
- Travel Credits Compare across cards →Up to 10% back in travel credits as an eligible CommBank Yello customer when booking flights/hotels via Travel Booking (provided by Hopper); Yello Plus/Gold 5%, Diamond 10% plus a $100 first-time travel credit; credits have a 2-year expiry
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Up to 10% back in travel credits as an eligible CommBank Yello customer when booking flights/hotels via Travel Booking (provided by Hopper); Yello Plus/Gold 5%, Diamond 10% plus a $100 first-time travel credit; credits have a 2-year expiry
- Travel Insurance Compare across cards →Complimentary international travel insurance (Overseas Travel Policy, issued by Zurich, administered by Cover-More) for the cardholder and accompanying family on return trips from Australia of up to 12 months per journey; requires spending at least $500 in a single transaction…
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Complimentary international travel insurance (Overseas Travel Policy, issued by Zurich, administered by Cover-More) for the cardholder and accompanying family on return trips from Australia of up to 12 months per journey; requires spending at least $500 in a single transaction on prepaid travel costs (or redeeming $500 of Awards points/Travel Booking credits) on the card and activating cover before travel; includes unlimited overseas emergency medical and hospital expenses
- Rental Vehicle Insurance Compare across cards →Rental Vehicle Insurance Excess cover up to $2,250 under the activated Overseas Travel Policy
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Rental Vehicle Insurance Excess cover up to $2,250 under the activated Overseas Travel Policy
Everyday savings
Discounts and cashback on spending. Activation and caps vary.
- Shopping Benefits Compare across cards →CommBank Yello Cashback Offers: personalised, activatable cashback offers with partnered brands via the CommBank app for eligible Mastercard cardholders; cashback typically received within 14 business days. Mastercard Travel Rewards cashback also available at participating…
These amounts are not included in the bonus calculation.
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CommBank Yello Cashback Offers: personalised, activatable cashback offers with partnered brands via the CommBank app for eligible Mastercard cardholders; cashback typically received within 14 business days. Mastercard Travel Rewards cashback also available at participating overseas merchants
Account management
Tools for running the account — repayment helpers, not reward value.
- No International Transaction Fee Compare across cards →0% international transaction fee on purchases or cash advances made overseas or online where the merchant or processing entity is located overseas
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0% international transaction fee on purchases or cash advances made overseas or online where the merchant or processing entity is located overseas
- No Foreign Currency Conversion Fee Compare across cards →No foreign currency conversion fee charged on overseas or online international transactions
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No foreign currency conversion fee charged on overseas or online international transactions
- No Additional Cardholder Fee Compare across cards →No additional cardholder fee to share the card with someone else
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No additional cardholder fee to share the card with someone else
- No Annual Fee Compare across cards →No monthly fee ($35 otherwise) in any statement period where at least $4,000 is spent on the card; spend includes purchases and cash advances minus refunds
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No monthly fee ($35 otherwise) in any statement period where at least $4,000 is spent on the card; spend includes purchases and cash advances minus refunds
- Interest Free Periods Compare across cards →Up to 44 interest-free days on purchases when the full closing balance shown on the statement is paid by the due date each month
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Up to 44 interest-free days on purchases when the full closing balance shown on the statement is paid by the due date each month
- Installment Plans Compare across cards →SurePay instalment plans let you repay a purchase or all/part of the card balance over monthly instalments (Purchase plan, Card balance plan, Cash advance balance plan); Purchase plans on a purchase of $100 or more made in the last 14 days at 0% p.a. interest for a set-up fee of…
This is a repayment plan. It does not add reward value.
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SurePay instalment plans let you repay a purchase or all/part of the card balance over monthly instalments (Purchase plan, Card balance plan, Cash advance balance plan); Purchase plans on a purchase of $100 or more made in the last 14 days at 0% p.a. interest for a set-up fee of 2% (3-month), 3% (6-month) or 5% (12-month); a set-up fee may apply; not available on balance transfers
$200 in Myer gift cards (50,000 of 54,500 Yello points; 4,500 left over) − $175 card fee. Assumes you earn the bonus and pay in full; extra spend or interest changes the outcome.
This offer is open now (terms from 16 Oct 2026).
What this calculation assumes
- You make the required purchases and the bonus is paid.
- You pay the balance in full — any interest changes the outcome.
- The required spend is ordinary planned spending, not extra cost.
- You close the card before the next annual fee, or you decide keeping it is worth that fee.
- Gift card prices can change. I check them again at renewal time.
Did this help you make a decision?
$0 monthly card fee with $4,000 spend per statement period until 31 December 2026; $35 per month from 1 January 2027. Plus up to $300 in monthly travel credits each year while the card remains open.
Terms and evidence
Full current terms
Offer terms
First Year Points
50,000 points
Yello
Second Year Points
50,000 points
Minimum Spend
$9,000
within 90 days (about 3 months)
Cash Bonus
Additional Cash Bonus
Ongoing Earn Rate
0.50x points per $1 spent
Fees
Monthly Fee
$35 per month
Equivalent to $420 annually
Purchase Interest Rate
20.99% p.a.
The value above assumes you pay in full and never pay this. Any interest changes the outcome.
Benefit history (5 changes)
- No Annual FeeUpdated May 2026
- No Additional Cardholder FeeUpdated May 2026
- Lounge AccessUpdated May 2026
Now 2 visits/year · Mastercard Travel Pass (DragonPass).
- Travel InsuranceUpdated May 2026
- No International Transaction FeeUpdated May 2026
Offer terms history (15 versions — old terms, for checking)
These are published versions of this offer's terms. Each version preserves the conditions available at that time.
Published 16 Oct 2026
Availability changed from ended to available; conditions unchanged.
Changes from terms version 13
No recorded term changes from the previous version.
No recorded term changes from the previous version.
Changes from terms version 10
Changes from terms version 9
Changes from terms version 8
Changes from terms version 7
Changes from terms version 6
No recorded term changes from the previous version.
Changes from terms version 4
Changes from terms version 3
Changes from terms version 2
Changes from terms version 1
Unknown publication date
First recorded terms
Captures behind the selected terms record — evidence for these terms, not a complete history of the named offer.
Archived notes
Earlier notes about this offer, kept as an archive — not current terms. Note dates are separate from terms publication dates.
- Card offer has ended3 years ago
- Minimum monthly spend increased from $2500 to $40003 years ago
Discussion
About the current terms (published 16 Oct 2026).
Community and personal tools
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