HomeCredit CardsCommBankUltimate Awards - Velocity

CommBank Ultimate Awards - Velocity Credit Card

The CommBank Ultimate Awards - Velocity Credit Card offers . Ongoing benefits include Velocity Points via CommBank Awards earned on eligible purchases, complimentary travel insurance, and no international transaction fees.


Updated 1 November 2024


Fact checked and verified. Updated 1 November 2024
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Expert Review

The CommBank Ultimate Awards - Velocity credit card is one of CommBank's premium low fee products. Featuring a relatively low points earn rate which is uncapped, the card provides premium features such as insurances. This card earns CommBank Awards Points, which can be converted to a variety of rewards, including Velocity Points. Further, the product has a $35 monthly fee, including up to 44 interest free days. And for anyone who is planning on travelling or making purchases online from international companies, this product charges no foreign transaction fees, which can create significant savings.

Considering its key features, this card is most suitable to someone who wishes to be rewarded for their spend. Other benefits include no foreign transaction fees, which are commonly around 3 p.a., this product is great for anyone who makes overseas purchases online, or anyone planning on travelling overseas, Overseas Travel and Medical Insurance which is similar to equivalent products, no additional cardholder fees and an ongoing spend based annual fee waiver, when the customer spends $4,000 per month.

To get this offer, there will be certain eligibility criteria that you should be aware of before you apply.

Product Details
Our most rewarding credit card with uncapped points earning potential, exclusive travel benefits and no monthly fee for eligible customers."
- CommBank
Rewards

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Earn Velocity Points via CommBank Awards#

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0.5points per $1 spent up to $10,000, then 0.25 per statement

# This product earns CommBank Awards Points which can be converted to Velocity Points. For your convenience, all above references to points are in the Velocity Points currency.

Fees
Account Fees

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$35 monthly account fee, waived when you spend $4,000 in the month

Additional Cardholder Fees

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No additional cardholder fee

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Up to 1 additional cardholder

Transaction Fees

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No international transaction fee

Other fees may apply.

Rates

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20.99% p.a. variable purchase rate

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21.99% p.a. variable cash advance rate

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Up to 44 interest free days on purchases

Features
Insurance

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Extended warranty insurance

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Interstate Flight Inconvenience

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Price Guarantee

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Purchase security insurance

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Transit Accident Insurance

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International travel insurance

Offers
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TMD

Before applying for this product, you should read the Target Market Determination (TMD) available here on the CommBank website.

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^ Credit card reward programs can be difficult to compare due to tiered and capped points earn rate structures. To simplify comparison, we estimate the number of points you could earn per $1 spent, assuming $5,000 of spend on eligible purchases each month.
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