CBA given Shonky Award for 'sneaky' card reward scheme

By Mozo ·

The Commonwealth Bank (CBA) has been named and shamed as part of this year's Shonky Awards by the consumer advocate group Choice.

CBA was given a Shonky for its "poor and sneaky" credit card Awards Program that requires customers to spend more than $12,000 in a year for just a $20 flight reward.

"The way the awards points are converted to Qantas Frequent Flyer points is a low-flying jest," said Choice spokesman Christopher Zinn.

"One point only equals half of one frequent flyer and that salient fact is hidden away in some mighty small print."

Consumers aiming to get the most for their money could choose to compare credit cards in search of better options. Among the other big-name brands to pick up a Shonky Award was Coles, which was criticised after Choice showed that its "Under $10 meal promotion" actually costs $30 once all the ingredients are taken into account.

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