100,000 Bonus Awards Points if you apply by 29 Feb 2020 and spend $4,000 within 90 days from activation
Earn 1 Awards point for every $1 spent
International Travel Insurance included
$249 Annual Fee
3% International Transaction Fee
Points are capped at 150,000 points per year
Seamless, easy way to pay for items and receive reward points
I was switched by the bank from a Gold Card to the new Platinum one. Whilst this was a little inconvenient having to change my direct charges with various companies, it wasn't that big a deal. I pay my credit card balance out in full every month, so I don't have to worry about silly things like interest, so I get to enjoy cashing in my rewards points every 12 months or so on things I may not necessarily have splurged on independently. Points accumulate quicker than you realise, and the method to redeem them is quick and convenient. I have never had a problem in this regard. I have also never had a problem in dealing with the bank when calling and questioning something, and I have always been satisfied with the response.
- Everyday Expenses
- Online Shopping
The reviewer stated that an incentive was offered for this review
CBA PLATINUM VISA: ONE OF THE BIGGEST LEGAL RIP-OFFS THERE MUST BE
No customer service (or wait, as I do too often one+ hour on phone), expensive fee ($249), exorbitant rate of interests (20.24 to 21.24%) and rewards are a "joke" (e.g. half a point for dollar spent!). CBA & VISA have devalued for ever the word 'PLATINUM' attached to a card.
- Everyday Expenses
Best Complimentary Travel Insurance.
If one travels overseas, the CBA cards which offer complimentary Travel Insurance are the best. The Gold card is good for three months of travel, the Platinum card for up to six months, and Diamond for up to 12 months. This is because,
a. One only has to activate the insurance, unlike most other cards which require purchasing some of the trip, or all of the flights on the cards, and
b. After activation, one actually receives the policy via email, to print out and take overseas, and
c. The policy is with Allianz.
We ha...ve used the CBA Platinum Card for insurance on the last five overseas trips. Last year we had to cancel our European vacation because of unexpected back surgery. Allianz paid the cancellation fees, less the $250 excess, and sent us $670. Then we went to Bali and got stuck there in luxury accommodation for an extra five days because the volcano erupted. Allianz paid for our accommodation and meals, less the $250 excess, and sent us $1763. Looked at another way, we have been to Bangkok this year, and are flying to Europe later this year. Had we paid for the two Allianz travel insurance policies directly, they would have cost us $1302. But we got the same policies for free through the CBA Platinum card. If one travels a bit - who cares about the Awards scheme of this card? (Though my wife thinks the Bosch vacuum cleaner she got from them, is the best she's ever had). The card's Travel Insurance feature is the best around.. Regards.
Awards program has been terribly devalued, much better options available on the market. Used points to order a number of gift cards and like many others they have never arrived. After a number of phone calls still can't get a straight answer as to when they will arrive and been told they have no stock. Poor communication and a terrible service. Glad I have left the program and the bank for a better option.
- Verified customer
Don't use Allianz for travel insurance.
Apparently disruptions that affects your mode of transport eg Heathrow express signal failure doesn't qualify as an accident. Yet an "accident" is an event that happens by chance or that is without apparent or deliberate cause. Apparently signal failure was within my control! Be wary of this company they will do anything not to pay out a few hundred dollars.
They were not my company of choice they were part of my insurance through Commonwealth Bank credit card service and I thought I would be covered. Well I learnt my lesson. I will never use Allianz again.
Run by computers now
After being stranded in Europe with my twins in neonatal intensive care unit I was to discover that a replacement card had not been sent to me. After contacting the bank their responsewas to removeinternet statement from my internet banking site (after I had put thousands on it!). Then getting collections agencies contacting me - when I had no card and no internet statement of account.
To make it worse, once back I repeatedly kept contacting complaints department and...it is just ridiculous...they paid funds off my credit card to apologise a...
Credit Card Charges
I supported a fundraising effort by purchasing tickets in a lottery. The CBA deigned to treat my purchase as "gambling" and consequently charged me a cash withdrawal fee for the transaction PLUS interest. No amount of arguing my case changed anything or solicited any sympathy. Be wary of purchasing lottery or raffle tickets to support your favourite charity's fundraising efforts using a CBA credit card.
Travel insurance doesn't work
I've just had a straight forward travel insurance case declined due to one of their loopholes. A fault with the baggage handling machine at the airport caused us to miss a flight and have to buy other tickets. I was informed by my claim manager that Commbank travel insurance on their platinum card "is limited to mechanical failures on the aircraft itself". Claim declined.
Don't trust the "free insurance" provided with this card, it doesn't replace getting proper travel insurance.
I've had the card for awhile with the package. We use it for everything and clear the balance each month so never had to pay interest. I love it. The points refund covers for our package fees and staff are always friendly and helpful. Recently I had to put through a dispute and their customer service for dispute is wonderful and resourceful. Last year we went to NZ, our car company - Budget, double charged us, taking an extra $1000 and was very unhelpful so we put in a formal dispute. Months later they told us (got this in writing) they w...ould refund the whole amount. Of course their refund was short by $120. By this time, I was stressed, depressed and tired with the whole ordeal so left it. Then CBA staff called to confirm the refund, but noticed the difference and told me that she'll put through another dispute and reimbursed me the full amount. They are very thorough and dedicated bunch. NB. Please read travel insurance brochure carefully as there are changes every few years. You'll need to spend over a certain amount per person to be covered. Not much, but if you have a special deal or so in Bali, it may not cost enough for coverage.
Travel insurance works
Forget the hype about points - you have to spend so much money with any card to get anything worthwhile it's just not worth worrying about.
But travel Insurance is another matter. The overseas travel insurance options do work (I've used it) and I smile every time I book a flight when they say "we recommend travel insurance". If you use your platinum card to pay for your airfares you are covered and don't need anything else. The policy is well backed and they do support you.
Always pay your card off by the due date - interest is a killer on every card not just the Commonwealth.
You can use your points to pay your annual fees so there is absolutely no cost to you.
Depends on the individual - I enjoyed it
I have had this card in the past, for approximately 1.5 years. Personally I thought the American Express additional card was a bit of a ‘gimmick’, however I did find myself using this additional card at Myers, David Jones, and many other retail shops where no extra charges were applicable, the primary reason being the bonus points earned. The annual fee is a little high for a platinum card with its range of features, I personally would like to see it lowered, I also note if you have a home loan with CBA and are on one of their ‘packages’ it is ...free (please confirm this). A major perk of this card is its travel insurance, and the reason I say this is because the underwriters (Zurich from memory) of the insurance didn’t prescribe an age limit, or void the insurance if you have a prior medical condition unlike nearly all other credit card insurances for travel (Please note: they didn’t cover your past medical condition, and to confirm the no age limit via the PDS as it may have changed since I were holding the card). Balance transfer rate is high in comparison to others, however I don’t see CBA competing in this area ever, which doesn’t matter to me anyway. Customer service is quiet good I feel, from walk ins to a branch to telephone enquires, I was always pleased. General knowledge/ability to assist with the travel insurance enquires was pretty dismal on both phone and walk ins. On the rewards side of things, CBA seems to be up there with the best. In regards to flexibility of using your points they are great, then again, the cost of points to redemption is pretty poor. Example being 2 CBA points to 1 QFF, 10,000 CBA points equals $50.00 voucher, and for flight Centre their conversion is not to good at all (I forgot this conversion rate sorry). Also points capping is little upsetting to see, especially at 250,000. Also note, that if you use QFF your points cap will be lowered, (a little past half way from memory, I didn’t look to much into this as I don’t use QFF) Final note, the Concierge Service they offer for this card, on both occasions I used them, was pathetic. Overall, I do like this card for what it does offer, I think this card would be great for a young professional couple ranging all the way up to retirees.
Commonwealth Bank does not ask you do you want American Express with your Master Card or not, they just send it and force you to use it if you want any reward points. I am seriously thinking of shopping for another Credit Card because I do not want to be bullied into using American Express (which is so reliable that nobody wants it, or you have to pay hefty fee for using it ) .
Showing off your platinum Credit card - vanity! And it even looks ugly!
Annual fee very high even on a wealth package.Award program on Master Card pitiful.
The CBA Platinum Card.
I throughly enjoy having this card. I have had it now for 3 weeks and everything has gone really well. American Express is not as common as Visa or MasterCard but it depends on the sort of shops that you go to. Even though long gone are the days that you could only shop at boutiques and fancy restaurants and know that American Express would be accepted, merchants still need to accept this card more.
I have used the concierge service on this card once already and I found them to be OK but if you have the time I would recommend on getting a be...tter deal though Google or other similar agency. The points ratio seem OK but you are restricted on how many points you can get per year from this card, if you are spending enough money and not getting points you would have to use a secondary card or go without. The annual fee is a little high - $250 but there is an offer on at the moment where the Commonwealth Bank are waving the annual fee for the first year. Interest rates are about average with this card but CBA might be able to improve this and get a few more customers. If you have all your banking with the Commonwealth Bank and want to keep it that way then this would be the card to go because it reflects on how much you spend. Banking with one of Australia's leading financial institutions. The annual fee could come down that little more.
For any overseas travel, these Platinum cards are not an option - I would most definitely choose a Wizard Clear Advantage MasterCard (GE Finance) which levies absolutely no cash advance, ATM or foreign exchange conversion fees. The Commonwealth Bank has a bit of catching up to do there! In Australia, the award points on the AMEX platinum card are good, but not generous. Forget using the Platinum MasterCard - unless the merchant refuses taking the AMEX for your purchase. Very average products despite the executive marketing hype of these cards.... These Platinum cards offer a range of services which most people would not bother to use. The extended warranty and buyers protection are very useful benefits. Free travel insurance is also provided with the cards. Awards program is worth it if, and only if, you spend using the AMEX card rather than your Platinum MasterCard. Excellent turn-around time in redeeming awards for your points, vouchers/purchase cards are delivered within 2 or 3 days! Very easy-to-use website to redeem and track your spending. Comprehensive annual statement of expenditure provided also. The Awards program is worth it if, and only if, you spend using the AMEX card rather than your Platinum Mastercard. Beware that the complimentary travel insurance only covers trips originating out of Australia, even though you might have paid for the flight using either of the platinum AMEX or MasterCards. So check your policy! Very high interest rate, and the foreign currency exchange fee is a real turn-off. On three occasions, I found the Commonwealth Bank's "determined" customer service is less than 'premium' if you have a problem - I felt just another client number.
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Questions & Answers
Does my commonwealth platinum credit card give me travel insurance cover even if i did not purchase my flight using the card
Hi there, just wondering if you had a small list of what places will accept Amex with no additional charges? I just got mine today. Thank you! DB
I don't really use the Amex as its too limiting but have been told that Wooly and Coles accept AMex with no fees.
Not part of your query, but I notice that some petrol stations are starting to charge a fee for Credit Card transactions and it seem to be an increasing trend. I guess, we just have to vigilant before swiping.
Sorry can't be much help
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