Commonwealth Bank Velocity Rewards Points Program Credit Cards

Information verified correct on September 29th, 2016
commonwealth logo with velocity rewards

Commonwealth Bank Velocity Rewards Credit Cards allow you to transfer your points to the Velocity program. There are even ways to double your points with Commonwealth. Once you do, you will easily increase the Velocity points you earn and can spend on high value accommodations, flights, and more.

A Commonwealth Bank Velocity Rewards Credit Card is a way to move your Commonwealth Awards points to your Velocity account. You earn points from Commonwealth at a rate of one point for every dollar that you spend using your Commonwealth card shopping or paying bills, plus you earn extra points by spending with their select partners. If you are also a member of the Velocity Rewards program you can transfer those points over and bank them as Velocity Rewards Points. If you want to increase the number of points you can transfer to Velocity request a Commonwealth Bank Awards American Express card.

Earning Commonwealth Bank Velocity Rewards Credit Cards points

  • Owners of the Standard Awards card earn one Velocity point for every two Commonwealth Awards points.
  • Owners of the Gold Awards card earn one Velocity point for every two Commonwealth Awards points.
  • Owners of the Platinum Awards card earn one Velocity point for every two Commonwealth Awards points.
  • To transfer your Commonwealth Awards points to Velocity all you have to do is log in to NetBank or call the Commonwealth Awards call center between 8am and 8 pm Sydney time Monday through Friday.
  • You can increase the number of points you earn with Commonwealth Bank Velocity Rewards Credit Cards by using it to book flights on Virgin Australia, V Australia, Pacific Blue, and Polynesian Blue.
  • You will earn Velocity points and status credit based on your fares.
  • You will also earn one Commonwealth Award point for every dollar you spend on the fare.
  • You can transfer the Commonwealth points to Velocity doubling the number of points you earned on the transaction.

If you own a Commonwealth Bank Velocity Rewards Credit Card, you get the best of both worlds. You have the convenience and reliability of banking with Commonwealth as well as the fabulous points redemption options available through the Velocity program. If you are not a member yet you are not putting your points to work and opening the doors to all sorts of ways to spend your points.

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2 Responses to Commonwealth Bank Velocity Rewards Points Program Credit Cards

  1. Default Gravatar
    Angie | July 17, 2016

    Which is higher 0.5 or 0.40 for velocity points
    Thanks

    • Staff
      May | July 21, 2016

      Hi Angie,

      Thanks for your question.

      To further assist you, can you please clarify or provide more details of your question?

      In the meantime, if you’d like to know how you can earn and what is the equivalent rate of CBA rewards points to Velocity points, please see below:

      1. You earn points from Commonwealth at a rate of 1 point for every $1 spent using your Commonwealth card for shopping or paying bills, plus you can earn extra points by spending with their select partners.

      2. The conversion / equivalent rate is 2.5 Commonwealth Awards points = 1 Velocity point.

      Cheers,
      May

Credit Cards Comparison

Rates last updated September 29th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
St.George Vertigo Visa
Introductory offer of 0% p.a. for 18 months on balance transfers and 1% p.a. for 12 months on purchases, plus a low annual fee.
1% p.a. for 12 months (reverts to 13.24% p.a.) 0% p.a. for 18 months $55 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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