CommBank to launch premium charge card

It will offer airport lounge access and travel insurance benefits.

The Commonwealth Bank of Australia is launching a new premium charge card.

The new charge card is designed for Australians with high discretionary spend, according to an online statement. Balances must be repaid in full each statement period.

Group Executive Retail Banking Services Angus Sullivan said that they see a clear opportunity to introduce a new premium charge card, with benefits centred on travel, dining, lifestyle and rewards.

“This new card will have higher points-earning capability and will feature no international transaction fees and travel insurance benefits. Cardholders will also have access to airport lounges and concierge support designed to elevate their travel experience,” Sullivan said.

The new card complements CommBank’s existing Smart and Ultimate credit card, the Australian-based bank said.

Apart from the new charge card, CommBank also plans to introduce new benefits to eligible Smart and Ultimate customers, including monthly travel and dining credits, access to CommBank Yello points and complimentary DashPass membership with DoorDash.

Further information about the new charge card, including expressions of interest, will be shared in coming months, CommBank said.