Commonwealth Bank Awards Credit Card Rewards Program Review

Information verified correct on February 8th, 2016

Earn points at a brisk pace with Commonwealth Bank Awards Credit Card program, and redeem them for attractive purchases

The Commonwealth Bank Awards credit card program allows cardholders to earn as they spend, even providing opportunities to accrue bonus points. With partners varying from Qantas, Virgin Australia and Myer, the rewards program is catered to suit almost any type of cardholder. These perks usually come at the price of a high annual fee though, so cardholders should always ensure that the benefits of the card outweigh any of the costs.

Commonwealth Bank Awards Credit Card

Commonwealth Bank Awards Credit Card Offer

The Commonwealth Bank Awards Credit Card gives you a chance to earn Rewards points per $1 spend. Also offering allow interest rate offer on balance transfer.

  • $59 p.a. annual fee
  • 20.24% p.a. on purchases
  • 5.99% p.a. for 5 months on balance transfers
  • Cash Advance Rate of 21.24% p.a.
  • Up to 55 days interest free
Rates last updated February 8th, 2016
Bonus Points Points per $ spent Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Commonwealth Bank Awards Credit Card
Dual credit card with balance transfer offer of 5.99% p.a. for 5 months and earn up to 1.5 Awards points per dollar spent.
VISA/MC: 1 AMEX: 1.5 20.24% p.a. 5.99% p.a. for 5 months $59 p.a. Go to site More info
Commonwealth Bank Gold Awards Credit Card
Earn up to 2 Awards points for every $1 spent and up to 55 days interest free with complimentary international travel insurance.
VISA/MC: 1 AMEX: 2 20.24% p.a. 5.99% p.a. for 5 months $119 p.a. Go to site More info
Commonwealth Bank Platinum Awards Credit Card
Receive 80,000 bonus CommBank Awards points when you apply online by 14 April 2016 and meet the spend criteria plus earn up to 2.5 Awards points per dollar spent, complimentary international travel insurance and 24/7 concierge service.
80,000 bonus points VISA/MC: 1 AMEX: 2.5 20.24% p.a. 5.99% p.a. for 5 months $249 p.a. Go to site More info
Commonwealth Bank Diamond Awards Credit Card
Receive 80,000 bonus CommBank Awards points when you apply online by 14 April 2016 and spend $1,000 on eligible purchases and earn up to 3 Awards points per $1 spent.
80,000 bonus points VISA/MC: 1.25 AMEX: 3 20.24% p.a. 5.99% p.a. for 5 months $349 p.a. Go to site More info

Types of Commbank’s Reward Cards summary

  1. Commonwealth Bank Awards Credit Card. This is the basic awards card which is ideal for cost conscious customers who would like to take benefit of the awards program. The annual fee is $59 Some of the limits on this card include a maximum points collection limit per year of 50,000 and also a lower points earning rate of 1 (MasterCard) to 1.5 (AMEX) for every dollar spent. If customers choose to participate in the Qantas Frequent Flyer program it would also give lower points earning of 0.6 points per dollar (AMEX card).
  2. Commonwealth Bank Gold Awards Credit Card. This is the next highest card available which comes with an annual fee of $119. Customers can accumulate points up to 125000 per year on this card. The earning rate varies from 1 (MasterCard) to 2 (AMEX) points per dollar spent.
  3. Commonwealth Bank Platinum Awards Credit Card. This card is available at a fee of $249. Customers can earn 2.5 points on AMEX card and 1 point on MasterCard. A total of 250,000 points can be accumulated per year on this card.
  4. Commonwealth Bank Diamond Awards Credit Card. This is the highest level card available at a price tag of $349. Customers can earn up to 3 points on Amex card and 1.25 point on MasterCard for every dollar spent. The limit on points collected per year is also much higher at one million. There are other benefits which include a much faster point collection on other programs like Qantas Frequent Flyer program and personal concierge.

These cards have been customised to meet the expectations of different customer groups. Customers who have a lower income can go for basic card or Gold card which will prevent them hitting the points ceiling. Customers with higher expenses can go for Diamond card which has a very high points ceiling limit and allows them to take advantage of other benefits like personal concierge, travel insurance and more.

Rates last updated February 8th, 2016
Bonus Points Points per $ spent Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
ANZ Rewards Platinum
Earn points for every dollar spent on purchases plus a 50,000 Reward Points when you meet the minimum spend of $2,500 in the first three months and pay no annual fee for the first year.
50,000 bonus points VISA/MC: 1.5 AMEX: 3 18.79% p.a. $0 p.a. annual fee for the first year ($149 p.a. thereafter) Go to site More info
HSBC Platinum Qantas Credit Card
Receive 40,000 bonus Qantas Points on eligible spend within 3 months. A balance transfer offer of 0% p.a. for 6 months with access to premium benefits and complimentary insurance.
40,000 bonus points VISA/MC: 1 AMEX: 0 19.99% p.a. 0% p.a. for 6 months $199 p.a. Go to site More info
ANZ Frequent Flyer Black
Earn up to 75,000 bonus Qantas Points when you spend $2,500 within the first three months and 1.5 points per $1 spent. Get complimentary airport lounge access, 24/7 concierge with $0 annual fee in the first year.
75,000 bonus points VISA/MC: 0.75 AMEX: 1.5 19.99% p.a. $0 p.a. annual fee for the first year ($425 p.a. thereafter) Go to site More info
American Express Qantas Premium Card
The card designed by travellers for travellers with a powerful Qantas Frequent Flyer earn rate of 1 points per $1 spend. Also you can earn up to 80,000 bonus Qantas Points.
80,000 bonus points VISA/MC: 0 AMEX: 1 20.74% p.a. 0% p.a. for 12 months with 1% balance transfer fee $249 p.a. Go to site More info
American Express Velocity Escape Card -  Exclusive Offer
Receive 15,000 Velocity bonus points when you spend $300 in the first 3 months, plus a $0 card fee.
15,000 bonus points VISA/MC: 0 AMEX: 1 20.74% p.a. 0% p.a. for 12 months with 1% balance transfer fee $0 p.a. Go to site More info
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Earn 10,000 bonus Velocity Points in the first 3 months plus a low balance transfer offer of 0% p.a. for 14 months
10,000 bonus points VISA/MC: 1 AMEX: 0 20.74% p.a. 0% p.a. for 14 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
American Express Essential Credit Card
Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card.
1 14.99% p.a. 0% p.a. for 12 months $0 p.a. Go to site More info
ANZ Frequent Flyer Platinum American Express/Visa
Earn up to 1.5 Qantas Frequent Flyer points per $1 spent on purchases. Plus 50,000 Qantas Points when you spend $2,500 on purchases within the first 3 months and no annual fee offer in the first year.
50,000 bonus points VISA/MC: 0.5 AMEX: 1.5 19.99% p.a. $0 p.a. annual fee for the first year ($295 p.a. thereafter) Go to site More info
HSBC Platinum Credit Card
Enjoy $0 annual fee every year if you meet the spend requirement with a balance transfer offer, high credit limits and prestige services including a personal concierge service and VISA Platinum rewards program.
VISA/MC: 1 AMEX: 0 19.99% p.a. 0% p.a. for 15 months $0 p.a. Go to site More info
Citi Rewards Credit Card - Platinum Card
Consolidate your debt with a low balance transfer offer of 0% p.a. for 18 months with balance transfer fee and a host of platinum privileges. Earn up to 1.25 Citi Reward points for every $1 spend.
60,000 bonus points VISA/MC: 1.25 AMEX: 0 20.99% p.a. 0% p.a. for 18 months $199 p.a. annual fee for the first year ($249 p.a. thereafter) Go to site More info
American Express Qantas Discovery Card
A no annual fee frequent flyer credit card with Earn 7,500 bonus points and enjoy 0% p.a. on balance transfers for 12 months when you apply and are approved. Earn 1 Qantas Point per $1 spend.
7,500 bonus points VISA/MC: 0 AMEX: 1 20.74% p.a. 0% p.a. for 12 months with 1% balance transfer fee $0 p.a. Go to site More info
Virgin Australia Velocity High Flyer Card - 20k Bonus Points offer
Receive 20,000 bonus Velocity Points and earn 1.25 Velocity Points per $1 spent. Enjoy complimentary insurance and flight discounts with Virgin.
20,000 bonus points VISA/MC: 1.25 AMEX: 0 20.74% p.a. 1.9% p.a. for 12 months $144 p.a. annual fee for the first year ($289 p.a. thereafter) Go to site More info
ANZ Frequent Flyer
Get 25,000 Qantas Points after you spend $2,500 on purchases within the first 3 months and earn up to 1 points per $1 spent on purchases.
25,000 bonus points VISA/MC: 0.5 AMEX: 1 19.99% p.a. $0 p.a. annual fee for the first year ($95 p.a. thereafter) Go to site More info
American Express Platinum Edge Credit Card
Receive 10,000 Membership Rewards bonus points and a complimentary Virgin Australia flight each year. Plus a low balance transfer offer of 0% p.a. for 12 months.
10,000 bonus points VISA/MC: 0 AMEX: 1 20.74% p.a. 0% p.a. for 12 months with 1% balance transfer fee $195 p.a. Go to site More info
BoQ Platinum Visa Card - Exclusive Offer
Exclusive Offer to finder.com.au

You can collect 2.000 rewards points for every $1 spent on your Platinum Visa card.

VISA/MC: 2 AMEX: 0 20.74% p.a. 0% p.a. for 16 months $0 p.a. annual fee for the first year ($199 p.a. thereafter) Go to site More info
Citi Qantas Signature Credit Card
Earn up to 50,000 bonus Qantas Points when you meet the spend requirement, 0% p.a. for 6 months on balance transfers and annual fee for the first year.
50,000 bonus points VISA/MC: 1 AMEX: 0 20.99% p.a. 0% p.a. for 6 months $299 p.a. Go to site More info
American Express Qantas Ultimate Card
Receive up to 50,000 extra Qantas Points. Plus earn 1 points per $1 spend.
50,000 bonus points VISA/MC: 0 AMEX: 1 20.74% p.a. 0% p.a. for 12 months with 1% balance transfer fee $450 p.a. Go to site More info
Woolworths Money Everyday Platinum Credit Card
Receive a $100 Gift Card with a $0 annual fee for the first year if you apply before 31 March 2016. Also get 0% p.a. for 14 months on balance transfers and earn up to 3 rewards points per $1 spent.
VISA/MC: 1 AMEX: 0 19.99% p.a. 0% p.a. for 14 months $0 p.a. annual fee for the first year ($49 p.a. thereafter) Go to site More info
NAB Qantas Rewards Premium Card
A low balance transfer offer of 4.99% p.a. for 6 months as well as 60,000 bonus Qantas Points. Ability to earn 1.50 points per $1 spent on eligible purchases.
60,000 bonus points VISA/MC: 0.5 AMEX: 1.5 19.99% p.a. 4.99% p.a. for 6 months $250 p.a. Go to site More info
Bankwest Qantas Platinum MasterCard
Bonus 8,000 Qantas Points when you apply online. Plus earn 0.750 Qantas Points for every $1 spent.
8,000 bonus points VISA/MC: 0.75 AMEX: 0 20.49% p.a. 2.99% p.a. for 9 months $160 p.a. Go to site More info
St.George Amplify Signature
Earn 1.50 Qantas or Amplify Points per dollar spent on eligible purchases.
VISA/MC: 1.5 AMEX: 0 0% p.a. for 3 months (reverts to 19.49% p.a.) 0% p.a. for 20 months $279 p.a. Go to site More info
NAB Velocity Rewards Premium Card
Receive 60,000 bonus reward points and a complimentary insurance. 4.99% p.a. on balance transfers for 6 months.
60,000 bonus points VISA/MC: 0.5 AMEX: 1.5 19.99% p.a. 4.99% p.a. for 6 months $150 p.a. Go to site More info
ANZ Rewards Black Credit Card
Earn 75,000 Reward Points when you spend $2,500 within the first three months, up to 3 reward points per dollar spent and unlimited access to airport lounges with complimentary travel insurance.
75,000 bonus points VISA/MC: 2 AMEX: 3 18.79% p.a. $0 p.a. annual fee for the first year ($375 p.a. thereafter) Go to site More info
ANZ Rewards Credit Card
Apply for the ANZ Rewards Credit Card and get 25,000 Reward Points after you spend $2,500 on purchases within the first three months. Earn reward points on your purchases, redeemable for a huge selection of rewards including shopping vouchers, gift cards, and travel.
25,000 bonus points VISA/MC: 1.5 AMEX: 2 18.79% p.a. $0 p.a. annual fee for the first year ($89 p.a. thereafter) Go to site More info
NAB Qantas Rewards Card
Receive 30,000 bonus Qantas Points when you apply online. Plus a low balance transfer and purchase offer.
30,000 bonus points VISA/MC: 0.5 AMEX: 1 19.99% p.a. 4.99% p.a. for 6 months $95 p.a. Go to site More info
Virgin Australia Velocity Flyer Card - 0% Interest Offer
Earn Velocity Points plus enjoy an introductory interest free offer of 0% p.a. on purchases for 12 months, and 0% p.a. for 6 months on balance transfers.
VISA/MC: 1 AMEX: 0 0% p.a. for 12 months (reverts to 20.74% p.a.) 0% p.a. for 6 months $129 p.a. Go to site More info
Bankwest Qantas MasterCard
2,000 Qantas points offer and earn 0.500 Qantas Point per $1 spent on eligible purchases.
2,000 bonus points VISA/MC: 0.5 AMEX: 0 20.49% p.a. 2.99% p.a. for 9 months $100 p.a. Go to site More info
St.George Amplify Platinum
Choose between Amplify or Qantas rewards program. Uncapped points earning.
VISA/MC: 1 AMEX: 0 0% p.a. for 3 months (reverts to 19.49% p.a.) 0% p.a. for 18 months $99 p.a. Go to site More info
American Express Platinum Card
Receive 100,000 Membership Rewards Bonus Points when you spend $1,000 on your card. You can transfer points to a choice of 9 leading airline rewards programs, including the Qantas Frequent Flyer program.
100,000 bonus points VISA/MC: 0 AMEX: 1 $1,200 p.a. Go to site More info
Bankwest More Platinum Mastercard
Introductory 80,000 bonus points offer and a low interest rate on balance transfers.
80,000 bonus points VISA/MC: 2 AMEX: 0 19.99% p.a. 2.99% p.a. for 9 months $140 p.a. Go to site More info
Commonwealth Bank Awards Credit Card
Dual credit card with balance transfer offer of 5.99% p.a. for 5 months and earn up to 1.5 Awards points per dollar spent.
VISA/MC: 1 AMEX: 1.5 20.24% p.a. 5.99% p.a. for 5 months $59 p.a. Go to site More info
Citi Rewards Credit Card - Signature
Get 75,000 rewards points on your first eligible purchase. Convert them to Qantas Points.
75,000 bonus points VISA/MC: 1.5 AMEX: 0 20.99% p.a. 0% p.a. for 6 months $199 p.a. annual fee for the first year ($395 p.a. thereafter) Go to site More info
Commonwealth Bank Gold Awards Credit Card
Earn up to 2 Awards points for every $1 spent and up to 55 days interest free with complimentary international travel insurance.
VISA/MC: 1 AMEX: 2 20.24% p.a. 5.99% p.a. for 5 months $119 p.a. Go to site More info
NAB Velocity Rewards Card
Receive 30,000 bonus Velocity points plus a low interest rate offer on purchases and balance transfers. Get two cards and pay one annual fee.
30,000 bonus points VISA/MC: 0.5 AMEX: 1 19.99% p.a. 4.99% p.a. for 6 months $95 p.a. Go to site More info
Bankwest More MasterCard
8,000 bonus More points offer and a long term balance transfer.
8,000 bonus points VISA/MC: 1.5 AMEX: 0 19.99% p.a. 2.99% p.a. for 9 months $70 p.a. Go to site More info
Commonwealth Bank Platinum Awards Credit Card
Receive 80,000 bonus CommBank Awards points when you apply online by 14 April 2016 and meet the spend criteria plus earn up to 2.5 Awards points per dollar spent, complimentary international travel insurance and 24/7 concierge service.
80,000 bonus points VISA/MC: 1 AMEX: 2.5 20.24% p.a. 5.99% p.a. for 5 months $249 p.a. Go to site More info
Bankwest More Gold MasterCard
15,000 bonus points and a balance transfer offer of 2.99% p.a. for 9 months.
15,000 bonus points VISA/MC: 1.5 AMEX: 0 19.99% p.a. 2.99% p.a. for 9 months $120 p.a. Go to site More info
Commonwealth Bank Diamond Awards Credit Card
Receive 80,000 bonus CommBank Awards points when you apply online by 14 April 2016 and spend $1,000 on eligible purchases and earn up to 3 Awards points per $1 spent.
80,000 bonus points VISA/MC: 1.25 AMEX: 3 20.24% p.a. 5.99% p.a. for 5 months $349 p.a. Go to site More info
BoQ Blue Visa Credit Card
Earn 1.000 points per dollar spent with Q Rewards program.
VISA/MC: 1 AMEX: 0 20.74% p.a. 0% p.a. for 9 months $0 p.a. annual fee for the first year ($60 p.a. thereafter) Go to site More info
David Jones American Express Platinum Card
Receive 40,000 Membership Rewards points or 30,000 Qantas Points. Plus earn up to 4 rewards point per $1 spend.
40,000 bonus points VISA/MC: 0 AMEX: 1 20.74% p.a. $295 p.a. Go to site More info
Emirates Citi World MasterCard
Receive up to 40,000 bonus Skyward Miles and half price annual fee for the first year.
40,000 bonus points VISA/MC: 1 AMEX: 0 20.99% p.a. 0% p.a. for 9 months $149 p.a. annual fee for the first year ($299 p.a. thereafter) Go to site More info
Citi Prestige Card
Receive 70,000 bonus rewards points on eligible spend. Option to earn opt-in to the Qantas Rewards program and earn Qantas Points.
70,000 bonus points 2 20.74% p.a. 0% p.a. for 6 months $700 p.a. Go to site More info
David Jones American Express
Receive 30,000 Membership Rewards points and earn up to 3.00 Rewards Points for every dollar spent on everyday item and access exclusive in-store benefits to David Jones cardholders.
30,000 bonus points VISA/MC: 0 AMEX: 1 20.74% p.a. $99 p.a. Go to site More info
Bank of Melbourne Amplify Classic - Amplify Rewards
Earn Amplify points on purchases to redeem for gift cards, appliances, events and experiences, travel through Amplify Travel. Plus a low purchase rate offer of 0% p.a. for 3 months.
VISA/MC: 1 AMEX: 0 0% p.a. for 3 months (reverts to 19.49% p.a.) 0% p.a. for 18 months $79 p.a. Go to site More info
NAB flybuys Rewards Card
Receive up to 30,000 flybuys bonus points. Plus a low offer on purchases and balance transfers of for months.
30,000 bonus points VISA/MC: 1 AMEX: 0 19.99% p.a. 4.99% p.a. for 6 months $95 p.a. Go to site More info
BankSA Amplify Classic
The BankSA Amplify is a brand new rewards credit card that allows you to earn more Qantas Points combined with purchase and balance transfer offers.
1 0% p.a. for 3 months (reverts to 19.49% p.a.) 0% p.a. for 18 months $79 p.a. Go to site More info
Bank of Melbourne Amplify Platinum
Take advantage of low introductory purchase rate offer, balance transfer promotion of 0% p.a. for 18 months and 24/7 concierge service, all for a low annual fee.
VISA/MC: 1 AMEX: 0 0% p.a. for 3 months (reverts to 19.49% p.a.) 0% p.a. for 18 months $99 p.a. Go to site More info
American Express Platinum Business Card
Better track and manage your business expenses with the American Express Platinum Business Card. Receive 150,000 bonus points and earn 2 points for every dollar spent up to 375,000, reverting to 1 point for every dollar thereafter.
150,000 bonus points VISA/MC: 0 AMEX: 1 $1,500 p.a. Go to site More info
American Express Gold Business Card
Enjoy 24-hour worldwide service plus a great range of tailored expense management solutions designed to help maintain control of your corporate expenses.
10,000 bonus points VISA/MC: 0 AMEX: 1 $169 p.a. Go to site More info
 Learn more about Rewards Credit Cards 
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Commonwealth Bank Credit Card Rewards Program Review

Commonwealth Bank Awards Credit Card program provides customers with a wider option in terms of redeeming their points. In addition to that, there’s an option for faster points collection for every dollar spent. Cardholders can earn up to 3.00 points for every dollar spent on AMEX purchases with a Diamond Awards card. All the cards have no expiry of points, but they do have a limit to the amount of points which can be collected in a year. There are different types of cards which should satisfy the requirements of most the customers. The basic Awards card comes with a low fee of $59 p.a. whereas the higher end Diamond Awards card has a fee of $349 p.a.

Commonwealth Bank Awards Program: Interview with Lynn Hamblet

Click here for video transcript

Jeremy: Hi. I’m Jeremy Cabral, from finder.com.au, and we’re here to talk to Lynn Hamlett, the Executive Manager of Credit Cards from Commonwealth Bank. Lynn, thank you for joining us. Lynn: It’s great to be here. Jeremy: When it comes to choosing a rewards credit card, why should someone choose CommBank? Lynn: The CommBank Awards Program is the largest awards program of any Australian bank. All of our awards accounts come with an American Express card and a MasterCard card. This means our customers can maximise their points earning potential, as well as having the freedom of knowing that their card is accepted at over 35 million locations worldwide. What’s more, with our Awards Program, our points never expire. Jeremy: How can customers earn CommBank awards points? Lynn : Most purchases you make with your CommBank Awards card will earn you points. We also have a bonus partner program, whereby customers can earn bonus points at some of our selected bonus partners. For a full list of our bonus partners, you can visit the website. The main difference with the CommBank Awards Program is that we not only allow our customers to redeem by the more traditional methods, such as over the phone or online, but our customers have the power to redeem their points in-store at Myer and FlatCentre stores nationwide. All our customers need to do is present their card at Myer or Flight Centre stores and ask to pay with points. If you don’t have enough points to pay for the total amount, you can make up the difference, just like any other purchase. Jeremy: So how can somebody apply for a CommBank Awards credit card? Lynn: Once you hit Apply on credit card finder, you’ll be taken to a secure website where you can complete your application. We offer a 60 second response.
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How can I earn points?

The biggest variation in the cards comes at the earning rate. Higher level cards like Diamond card have a much higher rate at which points are earned then basic Awards card. This ends up with higher tally of points at the end of the day which can be used to buy other items or used to get gift cards.

Points per dollar (MasterCard)Points per dollar (American Express)
Awards card11.5
Gold Awards card12
Platinum Awards card12.5
Diamond Awards card1.253

As you can see the points earning potential gets better the higher up the Awards card food chain you get. The annual fees also get more expensive, with the Diamond card having an annual fee $349, more expensive than the $59 charged by the regular Awards card. If you already have a Qantas Frequent Flyer membership you can have your Awards card linked to this so you directly earn Qantas Points. If you have a Virgin Velocity Frequent Flyer membership you can’t directly earn these points through the Awards card; however, you can manually convert Awards points into some frequent flyer programs. Below are the earn rates for each.

Qantas Points

Customers can opt-in for Qantas Frequent Flyer (QFF) program for a fee of $10 p.a. They can earn points on QFF at the following rates.

Points per dollar (MasterCard)Points per dollar (American Express)
Awards card0.40.6
Gold Awards card0.40.8
Platinum Awards card0.51.25
Diamond Awards card0.6251.5

Qantas Frequent Flyer program

Velocity Frequent Flyer

Customers can also swap their points for Velocity Frequent Flyer points at the following rates.

Number of Awards points needed for one Velocity point
Awards card2.5
Gold Awards card2.5
Platinum Awards card2
Diamond Awards card2

Virgin frequent flyer rewards program

Bonus partners

Bonus points are an attractive alternative for rapidly adding the points to your tally. There are several partners which provide extra points when purchases are made at their store. Some of them are mentioned here along with the points earned:

  • Crown Metropol: 1
  • Crown Towers: 1
  • Marque Hotels: 2
  • Napoleon Perdis: 1
  • Rendezvous Hotels And Resorts International: 2
  • Thrifty: 1
  • Village Cinemas Australia: 1

How can I redeem points?

There are many potential rewards available through the Awards program, so how you redeem your points will depend on what you choose to do with them.

  1. Directly at Myer. The points can be used to directly purchase goods at Myer. This can vary from the latest IPhone, IPad to menswear or women’s apparel.
  2. Flight Centre rewards. Flight Centre provides a flexible option to book your flights through the points. Customers can also book hotel accommodation or car hire through the points./li>
  3. Pay with points. Customers are given a wider option by allowing part payment through points. For example, customers can choose to get an IPhone 6 by paying 50,000 points and the rest of the payment can be made through real money in credit card.
  4. Other redemption possibilities. There are other options through which one can use the points. One of this is getting a gift card. Gift cards from $25 to $500 are available which can be used in a number of department stores like Myers, Napoleon, Prouds, Coles and more.

How can I check my points balance?

  • Velocity points. For swapping the points to Velocity points customers need to contact Netbank or call the service hotline.
  • Flight centre. Before purchasing the ticket, the person handling the transaction should be informed that the payment must be through the points on the card.
  • Awards website. Customers can also go the Awards website and purchase flight and accommodation for both domestic and international trips.

What else should I consider?

Customers need to keep a couple of things in mind while using these cards. They are:

  • Point limitation. There is a point limitation for all the cards. They are 50,000 for basic Awards card, 125,000 for Gold card, 250,000 for Platinum card and 1,000,000 for Diamond card. This is the maximum points which can be added on the cards per year.
  • Point expiry. These points never expire. There are other programs like Qantas Frequent Flyer program where the points can expire in 18 months; however with Awards points there is no such limit. Hence customers should not be in a hurry to redeem their points. They can safely add their points for a couple of years and redeem it to pay for their dream vacation or any other expense when they have enough points.
  • Card upgrade. Due to the limitation on the points many customers can hit the ceiling limit quite fast. In this case they can consider upgrading to a higher level card. In this case, the points earned will be transferred to the new card within five business days.
  • Correct choice of card. These cards have a fee from $59 p.a. for basic card to $349 p.a. for Diamond card. So it is necessary to choose the card prudently which will allow adding maximum number of points depending on the current spending habits. Buying a higher level card when the expenses are not high will lead to lower point collection and unnecessary heavy annual fee.
Maximum points earned per year
Awards card50,000
Gold Awards card125,000
Platinum Awards card250,000
Diamond Awards card1 million
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Pros and Cons of owning a Commbank Awards credit card

Pros

  • Wide variety. There is something for everyone due to the diversity of cards. Customers with lower purchase level can choose a Gold or standard card whereas customers with higher expenses can opt for Diamond card which should help in rapid accumulation of points.
  • No point expiry. The points never expire. This helps in accumulation over a longer period of time without worrying about losing the points. This can help in paying off one-time expense at a later date like going on a dream vacation.
  • Easy redeeming. The points can be redeemed through a variety of options. These include directly at Myer, Flight centre or pay with points.
  • Easy upgrade. The cards can be upgraded if the points ceiling will be reached within a year. This gives the option to go for a lower level card initially and then move to a higher level if the purchases on the card are high.

Cons

  • High Balance transfer rate. These cards have a high balance transfer rate compared to the general market. The rate is 5.99% p.a. for first five months.
  • Lower purchases. If the overall purchases on the card are less, it will lead to lower points and lower benefits on redeeming these points. For customers who use two or three cards, a lower purchase on these cards will lead to higher annual fee without commensurate benefits. Hence customers should try and use these cards as their primary purchase card to gain requisite points.
Commonwealth Bank has a range of cards which meet the requirement for most of the customers seeking reward points. These options range from basic Awards card which comes at $59 p.a. fee to more premium Diamond Award card which comes at $349 p.a. fee. The exact choice of the card should depend on the spending habits of an individual. An ideal card would help to gain enough points to recuperate the annual fee along with providing desired benefits. Customers should also be wary of overspending to collect points as it can lead to unnecessary debt and mismanagement of household budget.

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Frequently Asked Questions

How much does a gift card cost in points?

You can use a wide range of gift cards offered by Commonwealth Bank. For example, a $100 gift card would need 18,600 points and $500 gift card would need 93,000 points. Customers can find a wide range of option by visiting netbank.com.au. Clicking on the Awards icon will give additional details. Customers can also call 13 1661 for complete detail on phone.

Can I purchase other goods with the points earned?

Sure. This is an outstanding feature of these points. You can get an iPhone 6 for 200,000 points or an iPad air for 112,000 points. There are other option also, from American Tourister bags, Swarovski set, Delonghi coffee machine to a humble George Foreman mixture.

I do not like to redeem my points regularly although my overall expense is high. Is there any benefit for these cards?

The points on these cards have no expiry. So you can get a Diamond or Platinum Awards card and keep on accumulating points for the next few years. These points can then be spent to get a free vacation on a tropical island or a visit to Europe. With other features like complimentary travel insurance, these cards make sure you do not have to spend any extra amount during your dream vacation, provided you have enough points on your card.
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38 Responses to Commonwealth Bank Awards Credit Card Rewards Program Review

  1. Default Gravatar
    Claire | November 16, 2015

    Please send a file with the list of the awards to my email address, thanks.

    • Staff
      Sally | November 17, 2015

      Hi Claire,

      Thanks for your question.

      The Commonwealth Bank Awards program offers a variety of rewards including rewards through Flight Centre, Myer and the CBA Awards Guide. You can also redeem your CommBank Awards points for cash that is credited straight into your credit card account.

      I’ve emailed you link to this information for your convenience.

      Cheers,

      Sally

  2. Default Gravatar
    wayne | September 22, 2015

    Can you please send me a copy of the of the full list of awards that are available?

    Regards,

    Wayne

    • Staff
      Sally | September 23, 2015

      Hi Wayne,

      Thanks for your inquiry.

      Please refer to the PDF file that I sent to your email for the full list of Awards available for points redemption.

      I hope this has helped.

      Cheers,

      Sally

  3. Default Gravatar
    lindsay | July 20, 2015

    Could you please send to my email address the pdf for the latest Commonwealth Bank awards available, as I no longer receive a hard copy.

    Thank you

    • Staff
      Jonathan | July 20, 2015

      Hi Lindsay, thanks for your inquiry!

      Please refer to the PDF I have sent to your email for the latest copy of Commonwealth Bank’s awards.

      Cheers,

      Jonathan

  4. Default Gravatar
    joan | June 12, 2015

    I am trying to view the catalogue be cant seam to find it please help.

    Joan

    • Staff
      Jonathan | June 12, 2015

      Hi Joan, thanks for your inquiry!

      Please refer to the PDF I have sent to your email for the rewards catalogue of Commonwealth Bank.

      Cheers,

      Jonathan

  5. Default Gravatar
    Kathy | April 14, 2015

    I have tried to get from a local branch a hard copy of the rewards catalogue for my elderly parents. They do not want to have internet access to view online. They used to automatically receive it vua post. I have not been able to find the brochure online on CBA site. Are you able to please send one to them via post? I don’t understand why the branch couldn’t arrange to have one sent to them.
    Thanks

    • Staff
      Jonathan | April 15, 2015

      Hi Kathy, thanks for your inquiry!

      Please note that finder.com.au is independent to Commonwealth Bank. At this point of time the Rewards catalogue is only available in PDF format online, possibly due to environmental reasons to save paper printing. An alternative around getting the catalogue posted is that the PDF can be printed and then given to your parents.

      I hope this helps.

      Cheers,

      Jonathan

  6. Default Gravatar
    Alan | April 2, 2015

    I would like to cash in award points. What is the phone number?

    • Staff
      Jonathan | April 8, 2015

      Hi Alan, thanks for your inquiry!

      Please refer to the contact details I have sent to your email for Commonwealth Bank Awards.

      Cheers,

      Jonathan

  7. Default Gravatar
    rajeev | March 16, 2015

    Hello,

    Please send me CBA awards booklet by post/email

    regards

    rajeev

    • Staff
      Jonathan | March 16, 2015

      Hi Rajeev, thanks for your inquiry.

      Please see the attachment I have sent to your email for the CBA awards booklet.

      Cheers,

      Jonathan

  8. Default Gravatar
    Mrs | December 15, 2014

    How do I access list of rewards offered, not interested in buying from Myer etc. have clicked on “awards” beside Master Card on netbank but can get nowhere!!

    • Staff
      Elizabeth | December 15, 2014

      Hi Margaret,

      Thanks for your question.

      According to the Commbank website, by clicking on ‘Awards’ in netbank you should be able to see a list of rewards that are available for you to redeem. If you’re not seeing this then you may need to get in contact with Commbank directly in order to find out if there is a problem.

      I hope this has helped.

      Thanks,

      Elizabeth

  9. Default Gravatar
    R | November 26, 2014

    What is the number to call to redeem points off the annual charge on my credit card? It is not on your main page

    • Staff
      Elizabeth | November 26, 2014

      Hi R Curtis,

      Thanks for your question.

      You can contact Commonwealth Bank on 13 16 61, but bank fees are exempt from earning rewards points so you will be unable to redeem points for your annual fee.

      I hope this has helped.

      Thanks,

      Elizabeth

  10. Default Gravatar
    Ellen | September 11, 2014

    Would like to see the items that
    I can get with my points.

    • Staff
      Shirley | September 12, 2014

      Hi Ellen,

      Please log into your NetBank account.

      Next to your credit card account you’ll see a small, yellow ‘A’. If you click on this image, you’ll be taken to the page where you can see your options or redeem your points.

      Cheers,
      Shirley

Credit Cards Comparison

Rates last updated February 8th, 2016
Complimentary Travel Insurance Cover Bonus Points Points per $ spent Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
St.George Vertigo Platinum
A platinum card with a low interest rate on balance transfers and purchases with a low annual fee.
6 months VISA/MC: 0 AMEX: 0 0% p.a. for 3 months (reverts to 12.74% p.a.) 0% p.a. for 20 months $99 p.a. Go to site More info
American Express Essential Credit Card
Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card.
1 14.99% p.a. 0% p.a. for 12 months $0 p.a. Go to site More info
NAB Premium Card
Long term balance transfer offer with premium benefits such as travel insurance.
6 months VISA/MC: 0 AMEX: 0 0% p.a. for 15 months (reverts to 19.74% p.a.) 0% p.a. for 15 months $90 p.a. Go to site More info
HSBC Platinum Credit Card
Receive $0 annual fee every year if you meet the spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
4 months VISA/MC: 1 AMEX: 0 19.99% p.a. 0% p.a. for 15 months $0 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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