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.
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. Some of the cards available include:
1. Commonwealth Bank Awards Credit Card
This is the basic Awards card and comes with both an American Express (Amex) and MasterCard card. Eligible purchases made with the MasterCard earns up to 1 point for every $1 spent, while purchases on the Amex card earn up to 1.5 points per dollar spent. You also have the opportunity to earn more points with 14 bonus partners. This card allows you to earn up to 50,000 Awards points each year. It has an annual fee of $59 – the lowest of any CommBank Awards card.
2. Commonwealth Bank Gold Awards Credit Card
This card has a higher annual fee of $119. It also offers cardholders 1 point per $1 spent using the MasterCard, but up to 2 points per $1 spent on the Amex card. You also have the opportunity to earn bonus points with partners of the Awards program. The CommBank Gold Awards card gives you the potential to earn up to 125,000 CommBank Awards points each year. It also offers complimentary extended warranty and purchase security insurance for eligible items bought with the card.
3. Commonwealth Bank Platinum Awards Credit Card
If you’re looking for extras, then the Platinum Awards credit card might be worth considering. With a CommBank Platinum Awards card, you earn 1 point per $1 spent with the MasterCard and 2.5 points per $1 spent with the Amex card. It has a higher points cap than the CommBank Awards and CommBank Gold Awards cards, allowing you to earn up to 250,000 points each year. This card has an annual fee of $249 and comes with a range of premium benefits, including complimentary international travel insurance, extended warranty and purchase security insurances and a 24/7 personal concierge service.
4. Commonwealth Bank Diamond Awards Credit Card
Maximise your earning power with up to 3 points for every dollar spent and an an earning potential of 1 million points per year. The super-premium CommBank Diamond Awards credit card offers 1.25 points per $1 spent on the MasterCard and 3 points per $1 on the Amex card. It also comes with complimentary international travel insurance, extended warranty and purchase security insurance, a 24/7 personal concierge service and a Redeem for Anything service that provides greater flexibility for your rewards. This card has a $349 annual fee.Back to top
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.
How can I earn points with the Commonwealth Bank Awards program?
Commonwealth Bank Awards credit cards allow cardholders to earn Commonwealth Bank Awards points. 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.Back to top
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