Commonwealth Bank CommBank Awards Credit Card Reviews: Earning Awards Points

Commonwealth Bank CommBank Awards Credit Card Reviews: Earning Awards Points

Did you know the Commonwealth Bank’s Ultimate Awards credit card gives up to 3 Awards points per dollar on international deals? That’s three times more than many standard rewards cards. This shows how smart spending can really pay off.

The CommBank Awards Credit Card program shines in the Australian credit card scene. It has a tiered earning system and flexible ways to use your points. This makes it great for many people who want to earn points on their daily buys.

Credit card rewards are a big deal for Australians picking a new card. The CommBank Awards Credit Card meets this need. It offers a mix of earning chances and flexible use that suits both travelers and those who like cash back or gifts.

If you’re new to credit card rewards, the CommBank Awards Credit Card is a great start. It’s easy to earn points without the high fees of top rewards cards. Plus, Commonwealth Bank’s solid reputation in Australia makes it a top pick for many.

Key Takeaways

  • Earn up to 3 Awards points per dollar on international transactions
  • Tiered earning structure rewards spending at supermarkets and department stores
  • Flexible redemption options including travel, gift cards, and merchandise
  • Entry-level card with lower fees compared to premium rewards cards
  • Compatible with major mobile payment systems for convenient use
  • Potential for bonus points offers to boost rewards earning

Introduction to CommBank Awards Credit Card

The CommBank Awards Credit Card is a top choice in Australia. It has a flexible rewards program. This makes it great for those who want to get the most from their spending.

Key Features

The CommBank Awards program has a good earning structure. You earn 1 Awards point for every $1 spent on eligible purchases, up to $2,000 per statement period. Then, the rate drops to 0.5 points per $1. You can redeem points for over 1,000 options, like gift cards and tech items.

Importance of Reward Programs

Credit card loyalty programs are very important today. They make everyday spending more valuable. The CommBank Awards program lets you earn points on your spending.

CommBank’s Market Position

Commonwealth Bank is a big player in Australia’s credit card market. Their Awards program is one of the biggest. With three card tiers – Awards, Smart, and Ultimate – CommBank meets different needs. Features like mobile payment and spending insights also set them apart.

How to Earn Awards Points with CommBank Credit Card

The CommBank Awards credit card makes earning points easy. You can earn points on your daily spending. Here’s how to get the most out of your CommBank Awards points.

Points Earning Structure

With the CommBank Awards card, you earn 1 point for every $1 spent on eligible purchases. This is true for the first $2,000 each month. After that, you earn 0.5 points per $1 spent. There’s no limit to how many points you can earn each year.

Bonus Points Opportunities

While the CommBank Awards card doesn’t have sign-up bonuses, other cards do. For example, the Ultimate Awards card earns up to 3 points per $1 on international transactions. The Smart Awards card gives 1.5 points per $1 at major supermarkets and gas stations. These are great for increasing your rewards.

Earning Caps and Limitations

There’s a $2,000 monthly cap on earning points at the full rate. After that, earning points slows down. You can earn points on most everyday purchases, but not on cash advances, BPAY, or tax office payments. Use your card for all eligible purchases up to the monthly cap to maximize your rewards.

Card Type Points per $1 Monthly Cap
CommBank Awards 1 $2,000
Smart Awards Up to 1.5 $5,000
Ultimate Awards Up to 3 $10,000

Knowing how points are earned and the limits helps you spend wisely. This way, you can get the most out of your CommBank Awards credit card.

Commonwealth Bank CommBank Awards Credit Card Reviews: Earning Awards Points

CommBank Awards Credit Card reviews show it has a simple rewards system. You earn 1 Awards point for every $1 spent on eligible purchases up to $2,000 per statement period. After that, the rate drops to 0.5 points per $1. This system encourages spending but limits how many points you can get.

The card’s $96 annual fee is quite low compared to other rewards cards. This makes it easier to get value from your points. It’s a good choice for those new to credit card rewards.

Redeeming points with the CommBank Awards Credit Card is flexible. You can transfer points to Qantas and Velocity frequent flyer programs. The rates are 2.5:1 for Qantas and 2:1 for Velocity. Or, you can use 20,000 Award points for a $100 gift card, a simple way to redeem points.

Feature Details
Annual Fee $96
Earn Rate 1 point/$1 up to $2,000, then 0.5 point/$1
Interest Free Days Up to 44 days
Purchase Rate 20.99% p.a.
Minimum Credit Limit $500

While the CommBank Awards Credit Card has good rewards, it doesn’t have premium features like travel insurance or lounge access. The high purchase interest rate of 20.99% p.a. means you should pay your balance in full each month. This way, you get the most value from your rewards.

Redeeming CommBank Awards Points

CommBank Awards point redemption offers many choices for cardholders. It’s the largest rewards program in Australia. It gives flexibility and value to those who want to get the most from their credit card.

Transfer Partners and Redemption Rates

Transferring points to airline partners is a popular choice. Velocity Frequent Flyer is a key partner, with rates varying by card type. The Ultimate Awards credit card gives up to 3 Awards points or 1.2 Qantas Points per $1 spent on international transactions. This makes it great for those who love travel rewards.

Gift Cards and Merchandise Options

Gift card redemptions are a flexible option for many. The CommBank Awards program lets you redeem points for gift cards from different retailers. You can also get cashback as statement credits or shop in the Awards eShop.

Travel Rewards and Experiences

For travel perks, CommBank Awards points can book domestic and international flights through Flight Centre Travel Group. The “Points Plus Pay” feature lets you mix points with card payments. This makes planning your travel easier. Remember, all travel products are based on availability.

Card Type Max Bonus Points Spend Requirement
Smart Awards 90,000 CommBank Awards / 50,000 Qantas $1,500+ monthly for 4 months
Ultimate Awards 100,000 CommBank Awards / 60,000 Qantas $3,500+ monthly for 4 months

CommBank Awards credit cards offer many redemption options. Whether you’re after travel perks, everyday rewards, or unique experiences, there’s something for everyone.

Fees, Rates, and Additional Benefits

The CommBank Ultimate Awards Credit Card has a $420 annual fee. This fee is waived if you spend $4,000 or more each statement period. The card has a purchase interest rate of 20.99% p.a. and a cash advance rate of 21.99% p.a.

You get up to 44 days interest-free on purchases if you pay your balance in full. For travelers, there are no foreign transaction fees and 3 Awards points per $1 spent overseas. At home, you earn 2 points per $1 at major Australian supermarkets, department stores, and petrol stations, and 1 point per $1 on other eligible spending.

Additional cardholder benefits include:

  • CommBank Yello Cashback Offers
  • Mobile payment compatibility
  • Account control features via the CommBank app or NetBank
  • No fee for one additional cardholder

New cardholders can earn up to 100,000 bonus CommBank Awards points. Spend at least $3,500 per month on eligible purchases within the first 4 months to qualify. This offer isn’t available if you’ve held an Awards card in the last 12 months.

Feature Details
Minimum credit limit $6,000
Minimum monthly repayment 2% of closing balance or $25, whichever is greater
Late payment fee $20
Cash advance fee 3% or $4, whichever is greater

Conclusion

The CommBank Awards Credit Card is a good choice for Australians looking for a rewards program. It has annual fees from $36 to $420, fitting different budgets. The card earns points without limits, making it great for daily use. But, the high interest rates mean you need to use it wisely.

This card is known for its easy-to-understand rewards system. It offers 44 interest-free days on purchases and the chance to avoid fees with certain spending. People like it for its reliability and simplicity, making it a popular choice.

Even though it doesn’t have all the fancy features of top-tier cards, it’s still a great pick for beginners. It’s important to think about your spending and if you can pay off the balance. The CommBank Awards Credit Card is a solid option in the Australian market.

Source Links

Author

  • The AcademyFlex Finance Consultants team brings decades of experience from the trenches of Fortune 500 finance. Having honed their skills at institutions like Citibank, Bank of America, and BNY Mellon, they've transitioned their expertise into a powerful consulting, training, and coaching practice. Now, through AcademyFlex, they share their insights and practical knowledge to empower financial professionals to achieve peak performance.

    View all posts

Similar Posts