Commonwealth Bank Awards Credit Card Rewards Program Review

Information verified correct on July 29th, 2016

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.

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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.

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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 CardPoints per dollar (MasterCard)Points per dollar (American Express)
Awards cardUp to 1Up to 1.5
Gold Awards cardUp to 1Up to 2
Platinum Awards cardUp to 1Up to 2.5
Diamond Awards cardUp to 1.25Up 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 CardCommonwealth Bank Awards points =
Qantas points
Awards card2.51
Gold Awards card2.51
Platinum Awards card2.51
Diamond Awards card2.51

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 CardCommonwealth Bank Awards points =
Velocity Frequent Flyer points
Awards card2.51
Gold Awards card2.51
Platinum Awards card21
Diamond Awards card21

Your Commonwealth Bank Awards points can be redeemed for Velocity Frequent Flyer points directly through the Awards website, accessible via NetBank or the CommBank app.

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Bonus partners

Bonus PartnerAwards cardGold Awards cardPlatinum Awards cardDiamond Awards card
Adairs1111
Bob Jane T-Marts1111
Crown Metropol1111
Crown Promenade Hotel1111
Crown Towers1111
Hoyts1111
Kaligo.com15151515
Magshop1111
Napoleon Perdis1111
Prouds the Jewellers1111
RedBalloon1111
Rendezvous Hotels & Resorts International2222
Village Cinemas Australia1111

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.

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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.

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42 Responses to Commonwealth Bank Awards Credit Card Rewards Program Review

  1. Default Gravatar
    ricardo | June 25, 2016

    Can you please advise how we can transform our
    comm bank credit card to Awards Credit Card so we can earn points – Tnks

    • Staff
      Anndy | July 4, 2016

      Hi Ricardo,

      Thanks for your inquiry.

      May I know what particular Commonwealth Bank credit card you are holding?

      If you are referring to any of the Commonwealth Bank credit cards listed on this page, then you are entitled to receive rewards points for your eligible purchases.

      Cheers,
      Anndy

  2. Default Gravatar
    Mick | May 6, 2016

    Like all the questions below can you send me a pdf on the awards catalogue

    • Staff
      Ysa | May 9, 2016

      Hi Mick,

      Thanks for reaching out.

      Please refer to the PDF link I’ve forwarded to your email for the latest copy of Commonwealth Bank’s awards guide.

      Cheers,
      Ysa

  3. 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

  4. 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

  5. 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

  6. 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

  7. 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

  8. 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

  9. 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

  10. 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

Credit Cards Comparison

Rates last updated July 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
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. Also enjoy a 0% p.a. balance transfer rate for 12 months.
14.99% p.a. 0% p.a. for 12 months with 1% balance transfer fee $0 p.a. Go to site More info
Citi Qantas Signature Credit Card
Earn up to 70,000 bonus Qantas Points on eligible spend, plus enjoy a 0% p.a. for 6 months offer on balance transfers.
20.99% p.a. 0% p.a. for 6 months $99 p.a. annual fee for the first year ($395 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.
9.99% p.a. $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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