Redeem Commonwealth Bank Awards Points at Myer

Posted January 17th, 2013 and last modified March 13th, 2014
Redeem CBA Awards points at myer

CAN you wait two weeks for your new blender to arrive in the mail, or would you rather go out and buy one instantly with your CommBank Myer points?

What can CommBank do that the other banks can’t? Give you the power to use your points instantly in-store to make purchases at Myer department stores.

All you need to do is present your Commonwealth Bank credit card at the counter and ask to pay with points.

This offer is only exclusive to Commonwealth Bank Awards credit card holders and available in every Myer store around the country. You can redeem Awards points on any merchandise purchased from clothes, to shoes, to appliances. You can also redeem points on Myer gift cards.

‘For the first time consumers will be able to use Commonwealth Awards points at Myer stores when and where they want to purchase products they desire.’
David Singh, CommBank’s General Manager of Credit Cards.

Bernie Brookes, Myer CEO, describes the collaboration with CommBank as ‘consumer-driven’ since Myer One members benefit as well.

‘MYER one members will also earn MYER one shopping credits on purchases made using Commonwealth Awards points, delivering additional rewards to these customers as we further strengthen our loyalty offer,’ he said.

So will it be long before Myer’s competitor, David Jones, steps up and offers consumers their instant reward program?

Compare Commonwealth Bank Awards Credit Cards

Interest rate (p.a.) Balance transfer rate (p.a.) Annual fee Cash advance rate (p.a.)
Commonwealth Bank Awards Credit Card
Commonwealth Bank Awards Credit Card
A low interest rate offer with online security guarantee. Frequent Flyer Awards system, including Bonus Partner Reward Offers. 20.24% p.a. 5.99% p.a. for 5 months $89 p.a. ($59 for qualifying customers) 21.24% p.a. Apply Now For The Commonwealth Bank Awards Credit Card
Read More About The Commonwealth Bank Awards Credit Card
Commonwealth Bank Gold Awards Credit Card
Commonwealth Bank Gold Awards Credit Card
A low interest rate offer on balance transfer and purchases. Complimentary comprehensive travel insurance, 90 day purchase security cover and extended warranty on purchases. Also receive up to $200 cash back when you sign up before 30 April 2014. 20.24% p.a. 5.99% p.a. for 5 months $144 p.a. ($114 for qualifying customers) 21.24% p.a. Apply Now For The Commonwealth Bank Gold Awards Credit Card
Read More About The Commonwealth Bank Gold Awards Credit Card
Commonwealth Bank Platinum Awards Credit Card
Commonwealth Bank Platinum Awards Credit Card
A low interest rate offer with an international travel Insurance and extended Insurance/Purchase/Security benefits. Receive up to $200 cash back when you apply before 30 April 2014. 20.24% p.a. 5.99% p.a. for 5 months $280 p.a. ($250 for qualifying customers) 21.24% p.a. Apply Now For The Commonwealth Bank Platinum Awards Credit Card
Read More About The Commonwealth Bank Platinum Awards Credit Card

How it works

1 Choose what you want to buy from any Myer department store

2 Ask to ‘pay with points’

3 Swipe your card using your points and earn points on your Myer one shopping card too. You can also pay a portion with your points, and the remaining with cash or EFTPOS

What is the value of my Awards points?

Like any loyalty program, such as the CommBank and Myer Points Program, you’ll need to spend money regularly to reap the rewards – which for some, can lead to financial problems. However, if you’re in control of your finances, reward systems could give you many benefits.

Compared to other reward systems, the CommBank Myer Points Program could be perfect for you if you want instant rewards. However, if you are happy to go online, choose your reward and wait for it in the mail, then another rewards scheme may be a cheaper option. The same applies if you’re a travel bug and enjoy saving your points for flying. Like any rewards program, you need to think carefully about the type of rewards you want, compared to the ones you’re more likely to use.

For example, if you have the Commonwealth Bank Awards American Express card, you need to spend approximately $11,600 to get a $100 Myer Gift card. Compared to the Myer Visa Card, where you need to spend $10,000 to get a $100 Myer Gift Card. So you need to consider whether the $1,600 difference is worth getting your rewards immediately. Myer Visa restricts you to only rewards only from Myer, whereas the CommBank Awards program provides you with a larger range such as frequent flyer points and gift card facilities.

Product Recommended Retail Price Awards Points Equivalent in dollars

Fossil Watch

Fossil Watch

$89 27593 $148

Olga Berg Croc Print Clutch

Olga Berg Croc Print Clutch

$34.95 11112 $59.75

Kitchenaid KSM150 Artisan Stand Mixer

Kitchenaid KSM150 Artisan Stand Mixer

$646 138704 $746

As a general guide, for beauty and lifestyle purchases you need to spend approximately double the RRP to be able to claim 100 per cent of the product back. In this case, it may be more worthwhile to use your points on a homeware product to truly reap the benefits of the CommBank Myer Points System.

Keep in mind that the points system may vary item to item and beware of changing terms and conditions.

Things to consider about the Commonwealth Bank Myer Points Redemption System

  • Myer’s Return Policy. All returns and exchanges are subject to Myer’s return policy, which means that you will need to be able to provide proof of purchase. This applies to all merchandise purchased with points from your Awards card.
  • What you can’t redeem. You cannot redeem the points for cash, towards payment of Myer Visa card account, layby accounts and ‘Coles & Myer’ gift cards. Some food and Miele appliances may apply from time to time.

Commonwealth Bank and Myer have provided this unique opportunity for shoppers. Would you be willing to take advantage of this offer? Leave a comment as to whether you will be paying with points next time you shop at Myer.

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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2 Responses to Redeem Commonwealth Bank Awards Points at Myer

  1. Default Gravatar
    Howard | March 26, 2013

    Howard
    How are points accrued? i.e. how many dollars need to be spent to gain one point. Is there an American Express option with double points as Westpac do? Are they available for purchases in Harvey Norman, Dick Smith, David Jones etc
    Thank you

    • Staff
      Marc | March 27, 2013

      Hello Howard,
      Commonwealth Bank Awards Points are accrued by using a Commonwealth Bank Awards card for your spending. There are four different Awards cards, the first of which starts earning points at a rate of 1 for every $1 spent, or more when using the linked American Express card. The others earn points at a faster rate, and also have linked American Express MasterCards. You can use them anywhere a usual credit card is accepted. For more information please look at this page.

      Cheers,
      Marc.

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