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CommBank CreditCard Plus is closed to new applicants: CommBank says applications stopped on 8 June 2018. Existing policyholders may still be covered for eligible events under their individual policies. The product is optional credit-card insurance issued by AIA Australia, not a current offer from CommBank. Its advertised benefits and fees are only a starting point; the policy schedule and applicable wording determine what a particular customer can claim.
Can you still apply for CreditCard Plus?
No. CommBank says it stopped accepting new applications on 8 June 2018. The bank says existing customers remain covered for claimable events for the life of their policy. CommBank also identifies AIA Australia as the insurer and says AIA is not part of the CBA group. CommBank’s CreditCard Plus page
That makes this a review of a closed product for people who already hold a policy, not a recommendation to buy it. If you are unsure whether your cover is still in force, check your policy documents and ask the claims team.
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CommBank’s product summary describes monthly payments for specified involuntary unemployment or temporary disablement, and balance-related benefits for permanent disablement, terminal illness or death. These are headline descriptions, not a guarantee of payment. The policy’s definitions, eligibility tests, exclusions and your schedule govern a claim. CommBank’s product summary
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| Event described | Headline benefit described by CommBank |
|---|---|
| Involuntary unemployment | 20% of the credit-card balance each month for up to five months |
| Temporary disablement | 20% of the credit-card balance each month for up to five months |
| Permanent disablement, terminal illness or death | Pay off the balance up to $25,000, plus a one-off cash payment matching the balance, also up to $25,000 |
The public product summary does not establish how these descriptions apply to every policyholder. The linked Product Disclosure Statement (PDS) is dated 3 September 2016, so it should not be treated as proof of all later changes or of the exact terms in an individual policy. Review your own policy schedule and wording. CreditCard Plus PDS, dated 3 September 2016
How much does CreditCard Plus cost?
CommBank states the premium is 45 cents for every $100, or part of $100, owing, up to a covered balance of $25,000. It calculates the charge when it generates the statement, and says the premium can still be charged even if you repay the card by the due date. Look for “CreditCard Plus Premium” on the card statement. CommBank’s product page
For example, applying that stated rate to a $1,250 statement balance gives 13 units of $100 or part thereof, or $5.85 for that statement. This is an illustration of the published calculation, not a current application quote; your statement and policy records are the relevant evidence of charges.
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CommBank’s claims page uses screening questions to help assess whether an unemployment claim may qualify. It asks whether the job loss was involuntary, whether you worked an average of at least 15 hours a week, whether unemployment lasted more than 14 consecutive days, whether you are actively looking for work in Australia, and whether you had held the policy for more than 60 days before learning you would become unemployed. Passing a screening question does not itself mean a claim will be accepted. CommBank’s claims guidance
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Other claim types have their own conditions. The claims guidance asks about matters including occupation, symptoms, medical timing and waiting periods for temporary or permanent disablement, terminal illness and death. Because these conditions depend on the event and the policy wording, do not infer eligibility from the unemployment criteria or the product summary.
How do existing policyholders make a claim?
- Check your policy schedule and wording for the cover, qualifying period, definitions, exclusions and supporting evidence that apply to your event.
- Call CommBank’s CreditCard Plus claims team on 13 3982. CommBank lists weekday hours of 9am–5pm; its product page specifies AEST/AEDT, while its claims guidance refers to Sydney time.
- Follow the claims team’s instructions. It may send you a claim form and specify the documents or other evidence required.
The public screening page and historical PDS cannot determine an individual claim. Confirm the applicable requirements directly with the claims team and use your own policy documents when assessing the decision.
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What does ASIC’s enforcement case mean for this review?
ASIC reported in 2021 that CBA pleaded guilty to 30 criminal charges concerning false or misleading representations to 165 customers when selling consumer credit insurance, including CreditCard Plus, from 2011 to 2015. This is relevant context for the product’s sales history. It does not establish whether a particular policyholder is eligible for benefits or determine the terms of an individual policy. ASIC announcement, 2021
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