Commonwealth Bank Platinum Card
Australians looking for two credit cards for the price of one can find a deal with the Commonwealth Bank of Australia Platinum Card. Cardholders get the bonus of having both a Commonwealth Bank Platinum American Express and a Commonwealth Bank Platinum MasterCard. With two cards, it is easier to rack up those rewards and have the best protection available. Like any platinum card of its class, you get a lot of perks such as 24/7 concierge service and complimentary comprehensive travel insurance.
CBA Platinum Card Overview
Travelers are going to get the most out of the CBA Platinum Card. For starters, you get 3 Award points for every $1 that you charge using the Amex card while you also get one Award point for every dollar spent using the MasterCard. If that wasn’t enough, any purchases that you make have a 90 day purchase security coverage so if an item gets lost or stolen, you’ll be reimbursed.
The complimentary travel insurance is highly valued by anyone who travels regularly. It covers your losses from canceled flights, misplaced bookings, or if any of your baggage is lost, stolen, or just misplaced. If you use travelers’ cheques a lot then you’ll find the commission-free cheques to be a steal.
The CBA Platinum Card has an competitive interest rate of 20.24%. That is on par with what many platinum cards offer. However, the annual fee of $280 is not for the ligthtweight cardholder. Add to that a 5.99% interest rate on the annual fees for the first five months and that can rack up to a considerable amount. The good news is that if you have just one mishap while traveling, which happens all the time, the travelers’ insurance can easily cover the cost of the annual fee.
One great advantage of having a platinum card is the 24/7 personal concierge service. This can be a real asset when traveling abroad in unfamiliar territory.
The CBA Platinum Card offers some really good rewards for using a card with a high annual fee. The points can accrue three-times faster than lower level cards and you can trade those points in on Qantas Frequent Flyer miles and other vouchers. Plus, you get an extended warranty on any retail purchases made with the card.
In Summary: As platinum cards go, this one offers quite a bit to brag about. It has valuable features that we have come to recognize from an institute such as the Commonwealth Bank of Australia. Any traveler with this card in their pocket will find that they will be well protected while globe-trotting around the world.
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