Discover how you can earn rewards as you spend with the Commonwealth Bank Awards program.
The Commonwealth Bank Awards program allows you to earn points for everyday spending with an eligible credit card. It also offers a variety of redemption options including travel, gift cards and merchandise. Here, we explain how you can redeem points on your eligible purchases, the types of rewards you can redeem and how you can get more bang for your buck with the Commonwealth Bank Awards program.
Commonwealth Bank Awards program overview
The Commonwealth Bank Awards program is linked to four personal credit card options with individual benefits and costs. As you’d expect, smaller annual fees means a lower Awards earn rate, whereas cards with higher annual fees allow you to earn points at a higher rate.
To find the right card for you, consider the everyday costs you’ll be using your card for and where that fits inside each of the brackets. For example, if you’re only using your card for smaller everyday purchases, an expensive card with a high earn rate might not be worth it because you won’t be earning enough rewards to counteract the cost of the card.
Which Commonwealth Bank credit cards can I use to earn Awards points?
The range of CommBank Awards credit cards offer you Awards points for your everyday spending. You can also redeem these points for Qantas Frequent Flyer or Velocity Frequent Flyer points. Conditions apply, so consider the earn rates to determine how many points per $1 spent you can earn before making any decisions.
Commonwealth Bank Awards
|Credit Card||Points per dollar (MasterCard)||Points per dollar (American Express)|
|Awards card||Up to 1||Up to 1.5|
|Gold Awards card||Up to 1||Up to 2|
|Platinum Awards card||Up to 1||Up to 2.5|
|Diamond Awards card||Up to 1.25||Up to 3|
Cardholders can earn points by paying for purchases with their Commonwealth Bank Awards credit card. Plus, you could benefit from bonus point promotions with CommBank Awards program partners.
Qantas Frequent Flyer points
|Credit Card||Commonwealth Bank Awards points =||Qantas points|
|Gold Awards card||2.5||1|
|Platinum Awards card||2.5||1|
|Diamond Awards card||2.5||1|
To start earning Qantas points, you need to become a member of the Qantas Frequent Flyer Program. You can then opt-in to the Qantas Frequent Flyer Direct program offered by CommBank for an annual fee of $30. Your Awards points will automatically be transferred to your Qantas Frequent Flyer membership account on a monthly basis. Note that exclusions, points caps and limitations apply. For more information, refer to the Commonwealth Bank Awards Program Terms and Conditions, available on the CommBank website.
Velocity Frequent Flyer points
|Credit Card||Commonwealth Bank Awards points =||Velocity Frequent Flyer points|
|Gold Awards card||2.5||1|
|Platinum Awards card||2||1|
|Diamond Awards card||2||1|
|Bonus Partner||Awards card||Gold Awards card||Platinum Awards card||Diamond Awards card|
|Bob Jane T-Marts||1||1||1||1|
|Crown Promenade Hotel||1||1||1||1|
|Prouds the Jewellers||1||1||1||1|
|Rendezvous Hotels & Resorts International||2||2||2||2|
|Village Cinemas Australia||1||1||1||1|
Commonwealth Bank Awards credit cards allow cardholders to earn bonus points with partnered retailers. Bonus points are an attractive way to rapidly increase your points total. If you’re planning to charge a purchase to your credit card, consider where you shop and whether you can earn points with a partnered retailer if you make the purchase there instead.
How can I redeem my Awards points for rewards?
There are many potential rewards available, but the biggest decision to make is: what do you wish to redeem them for?
- Directly at Myer. Points can be redeemed instantly in-store at Myer for purchases when you present your Awards credit card.
- Flight Centre. Redeem Awards points for travel with no blackout dates. Choose any seat, any airline, any destination, at any time by visiting any store, calling 1300 165 033 or visiting Flight Centre online via the Awards website.
- Pay with points. The Awards program offers you a number of exciting points redemption options. Trade in your points for a Fitbit, a Dyson vacuum cleaner or fashion wears.
- Points plus pay. If you don’t want to part with all your points at once, try the points plus pay option. If you would like more freedom or just can’t decide straight away, cash credited straight to your credit card or a gift card could be the option for you.
Managing your Awards account
Users can check their balance through the CommBank App, asking in-store at your nearest Myer or Flight Centre, or by calling 13 16 61. NetBank customers can also check via the Awards icon located next to your credit card details.
Mistakes to avoid
- Using a card that doesn’t suit your needs. The first mistake you can make is choosing the wrong card for your circumstances. You will want to make sure you are maximising the Awards program to its fullest potential, so you don’t want to use a card that doesn’t compliment your existing spending habits or rewards ambitions. As always, make sure that the card costs (such as the annual fee) are offset by the value of the rewards you redeem, otherwise you won’t get full value from the rewards program.
- Points capping. Each of these cards limits the number of points that can be earned per year. Find the correct bracket for your spending, otherwise you could find that you could be earning more points than you’re allowed.
- Spending just to earn points. While it’s tempting to use your card all the time to earn more rewards, it can increase your risk of credit card debt. Aim to spend only what you can afford to pay off by the statement due date.
The Commonwealth Awards program offers a great opportunity for customers to receive rewards for their spending. However, it’s important to remember your budget and avoid getting carried away with spending to earn more points. As long as you can cover the cost of the card and your rewards exceed these costs, the program is one way you can get a little extra something from your spending with Commonwealth Bank.Back to top