Like ANZ, CommBank provides a full selection of tiered options within its CommBank Awards card selection, ranging from classic to its very cool Ultimate card. With a wide range of redemption options to choose from, CommBank Awards is nice and flexible, especially for those who want to transfer points to a broader range of frequent flyer partners.
Within the CommBank Awards program, you can also earn Bonus Points for every $1 spent when shopping with bonus partners. There’s no cap on how many bonus points you can earn.
As a flexible rewards program, CommBank Awards has a number of redemption options to choose from. It’s worth noting that for most options, CommBank doesn’t provide a redemption value on rewards unless you sign in as a member.
Points Plus Pay is also available.
As we mentioned, you really need to log in as a member to check out the value offered by most of the redemption options within CommBank Awards. However, we can provide some examples of value using what we know of gift card and merchandise redemptions.
CommBank Awards Card (1 point per $1, capped at 50,000 points per year, $59 annual fee).
CommBank Platinum Awards Card (1 point per $1, capped at 150,000 points per year, $249 annual fee, insurances, bonus points after min. spend and 12 months).
CommBank Diamond Awards Card (1.25 points per $1, capped at 1 million points per year, $349 annual fee, insurances, bonus points).
CommBank Ultimate Awards Card (3 points per $1 up to $10,000 per statement period, no monthly fee if you spend $2,500 per statement period, paid lounge access, insurance, no international transaction fees, bonus points).
As long as you’re committed to channelling a relatively high spend through your card, you could enjoy value from the CommBank Awards program, especially in the first year. For those who are eligible, the Ultimate card would be particularly appealing, as there would be no monthly fee on monthly spends over $2,500.
While the rewards on offer are varied, you would need to weigh up the value of your redemptions once you have all information available to you as a rewards member.
Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. Pauline is passionate about seeing Aussies win by making their money – and their credit cards – work smarter, harder and bigger.
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