CommBank drops new rewards card: could it be an addition to your wallet in 2020?
Today, the Commonwealth Bank has released a brand new rewards credit card to join its Awards program, the Ultimate Awards credit card.
This all black card not only has a different design to the other three cards on offer but it could also snag you more points on purchases than possible before.
Here’s a breakdown of the points you can earn on the Ultimate Awards card:
| Purchase type | Awards points earnings | Conditions |
|---|---|---|
| International transactions online or in store | 3 points per $1 spent | Up to $10,000 per statement period |
| Major Australian supermarkets, department stores and petrol stations | 2 points per $1 spent | Up to $10,000 per statement period |
| All other purchases | 1 point per $1 spent | Up to $10,000 per statement period |
| From May 2020, for any spend over $10,00 in a statement period | 0.5 point per $1 spend | After spending $10,000 |
And the points aren’t the only point of difference about this brand new card.
When it comes to the annual fee, CommBank has decided to change things up and instead charge a $35 monthly fee (which adds up to $420 annually), but there’s a catch - and it’s a good one for cardholders.
If you end up spending $2,500 per statement period on your Ultimate Awards card and choose to receive online statements, CommBank will waive the $35 fee.
So if you play your cards right, no pun intended, you could end up not paying monthly fees at all. That’s right, you’d save yourself $420 over the course of the year!
RELATED ARTICLE: The 6 best credit cards for Qantas Frequent Flyer Points
Mozo Banking Expert, Peter Marshall, says he’s not surprised that CommBank has rolled out this new product to entice people to its reward program.
“The number of Australian’s using credit cards has decreased over the past few years, especially with the emergence of new alternatives like buy now pay later, which are interest-free and don’t have hefty annual fees,” he said.
“Banks have to offer up more competitive credit card products to interest consumers, so CommBank’s move to introduce a new rewards card with a higher points earning system and a potential waived monthly fee proves they are willing to change things up.”
This card is not only for new customers either. If you are already a CommBank Awards program member you can make the switch to the Ultimate Awards card through your online NetBank account.
The CommBank Awards program: what you need to know
Before jumping into a rewards program, it’s a good idea to familiarise yourself with the ins and outs of the program - like where will get you the most points - that way you can make the most of it every time you spend!
CommBank’s Awards program is now made up of four cards - the Awards, Platinum Awards, Diamond Awards and the new Ultimate Awards credit cards.
While the number of points you are able to earn on eligible purchases differs between cards, there are common features of the program, like the fact that points have no expiry date and can be easily checked and redeemed online via NetBank or on the CommBank app.
And there are other perks as well for Awards program members. You can earn up to 15 bonus points when you spend at one of over 150 of CommBank’s bonus partners.
Redeeming your points is also straightforward, whether it be online on the Awards website to snag a gift card, some homeware goodies or even cashback, as well as redeem your points exclusively in store at Myer or Flightcentre.
RELATED GUIDE: Australia’s big bank rewards programs
Want to find out how this card weighs up against other rewards credit cards? Check out the table below or try our rewards revealer tool!
Rewards Credit Cards 2020 - rates updated daily
American Express Cashback Credit Card
Enjoy up to 6% cashback on eligible purchases in the first three months. Additional 1.5% cashback with American Express Shop Small Campaign (conditions apply). Complimentary perks and insurances. Eligibility criteria and T&Cs apply.
Rewards program
Annual fee
Bonus points
Earn rate per $1
Cashback Rewards$120No current offer1 point uncappedCashback Credit Card
Enjoy up to 6% cashback on eligible purchases in the first three months. Additional 1.5% cashback with American Express Shop Small Campaign (conditions apply). Complimentary perks and insurances. Eligibility criteria and T&Cs apply.
- Intro rate
- -
- Ongoing Purchase rate
- 20.74% p.a.
- Balance transfer rate
- No current offer
- Cash advance
- -
- Interest free days on purchases
- 55
- Foreign exchange
- 3.00%
- Late payment
- $30.00
- Points earning
- 1 point per dollar on Amex, uncapped
- Reward point expiry
- Never
- Bonus points
- No current offer
- Rewards
- Points
- N/A
- N/A
- N/A
- Card Benefits
Read our Mozo Review to learn more about the Cashback Credit Card
Westpac Altitude Platinum
Earn up to 80,000 bonus Altitude Points, worth up to $350 of eGift cards ($3k min. spend in the first 90 days on eligible purchases). Enjoy up to 45 days interest free with a 0% balance transfer for 18 months (rate then reverts to 21.49% after). 1% BT fee. Only $99 annual card fee for the first year, $150 thereafter.
Rewards program
Annual fee
Bonus points
Earn rate per $1
Altitude Rewards$150 $99 in the first year80,0001 point uncappedAltitude Platinum
Earn up to 80,000 bonus Altitude Points, worth up to $350 of eGift cards ($3k min. spend in the first 90 days on eligible purchases). Enjoy up to 45 days interest free with a 0% balance transfer for 18 months (rate then reverts to 21.49% after). 1% BT fee. Only $99 annual card fee for the first year, $150 thereafter.
- Intro rate
- -
- Ongoing Purchase rate
- 20.49% p.a.
- Balance transfer rate
- 0% p.a. for 18 months and then 21.49% p.a. (1.00% balance transfer fee)
- Cash advance
- 21.49% p.a.
- Interest free days on purchases
- 45
- Foreign exchange
- 3.00%
- Late payment
- $15.00
- Points earning
- 1 point per dollar on Mastercard, uncapped
- Reward point expiry
- Never
- Bonus points
- 80,000
- Rewards
- Points
- 15,600 points
- 212,000 points
- 24,100 points
- Card Benefits
- Travel Insurance,
Extended Warranty,
Purchase Protection
Read our Mozo Review to learn more about the Altitude Platinum
American Express Qantas Discovery Card
Receive up to 1.75 Qantas Points for every $1 spent on Card purchases (T&Cs apply). No annual fee for the life of the card. T&C’s apply. Mozo Experts Choice Qantas Frequent Flyer Credit Card Winner 2020.
Rewards program
Annual fee
Bonus points
Earn rate per $1
Qantas Frequent Flyer$0No current offer0.75 points uncappedQantas Discovery Card
Receive up to 1.75 Qantas Points for every $1 spent on Card purchases (T&Cs apply). No annual fee for the life of the card. T&C’s apply. Mozo Experts Choice Qantas Frequent Flyer Credit Card Winner 2020.
- Intro rate
- -
- Ongoing Purchase rate
- 20.74% p.a.
- Balance transfer rate
- No current offer
- Cash advance
- -
- Interest free days on purchases
- 44
- Foreign exchange
- 3.00%
- Late payment
- $30.00
- Points earning
- 0.75 points per dollar on Amex, uncapped
- Reward point expiry
- Never
- Bonus points
- No current offer
- Rewards
- Points
- 8,000 points
- 110,400 points
- 19,730 points
- Card Benefits
- Purchase Protection,
Account alerts by SMS
Read our Mozo Review to learn more about the Qantas Discovery Card
NAB Qantas Rewards Signature Card
NABs fastest way to earn Qantas Points. 110,000 bonus Qantas Points when you spend $3,000 on everyday purchases within 60 days of account opening and keep the card open for 12 months. Access to 6 complimentary insurances when you make eligible purchases.
Rewards program
Annual fee
Bonus points
Earn rate per $1
Qantas Frequent Flyer$395 $295 in the first year110,0001 point up to $5,000/month, then
0.5 points up to $20,000/monthQantas Rewards Signature Card
NABs fastest way to earn Qantas Points. 110,000 bonus Qantas Points when you spend $3,000 on everyday purchases within 60 days of account opening and keep the card open for 12 months. Access to 6 complimentary insurances when you make eligible purchases.
- Intro rate
- -
- Ongoing Purchase rate
- 19.99% p.a.
- Balance transfer rate
- 0% p.a. for 6 months and then 21.74% p.a. (2.00% balance transfer fee)
- Cash advance
- 21.74% p.a.
- Interest free days on purchases
- 44
- Foreign exchange
- 3.00%
- Late payment
- $15.00
- Points earning
- 1 point per dollar on Visa, up to $5,000 per month, then
0.5 points per dollar on Visa, up to $20,000 per month
- Reward point expiry
- Never
- Bonus points
- 110,000
- Rewards
- Points
- 8,000 points
- 110,400 points
- 19,730 points
- Card Benefits
- Concierge,
Extended Warranty,
Purchase Protection,
International Travel Insurance,
Transit Accident Insurance,
Interstate Flight Inconvenience Insurance,
Rental Vehicle Excess in Australia Insurance
Read our Mozo Review to learn more about the Qantas Rewards Signature Card
American Express Explorer® Credit Card
Receive 90,000 Bonus Membership Rewards Points and get $300 back when you apply online by 3 May 2021, are approved and spend $3,000 on your new Card within the first 3 months. T&Cs apply. New Card Members only.
Rewards program
Annual fee
Bonus points
Earn rate per $1
Membership Rewards$39590,0002 points uncappedExplorer® Credit Card
Receive 90,000 Bonus Membership Rewards Points and get $300 back when you apply online by 3 May 2021, are approved and spend $3,000 on your new Card within the first 3 months. T&Cs apply. New Card Members only.
- Intro rate
- -
- Ongoing Purchase rate
- 20.74% p.a.
- Balance transfer rate
- No current offer
- Cash advance
- -
- Interest free days on purchases
- 55
- Foreign exchange
- 3.00%
- Late payment
- $30.00
- Points earning
- 2 points per dollar on Amex, uncapped
- Reward point expiry
- Never
- Bonus points
- 90,000
- Rewards
- Points
- 15,600 points
- 212,000 points
- 20,000 points
- Card Benefits
- Travel Insurance,
Extended Warranty,
Purchase Protection,
Account alerts by SMS
Read our Mozo Review to learn more about the Explorer® Credit Card
St.George Amplify Signature
Earn up to 200,000 Bonus Amplify Rewards Points over 2 years (100k yr 1, 100k yr 2) when you spend $12k on eligible purchases each year. New cards only, Eligibility criteria and T&Cs apply. Offer ends 28th September 2021.
Rewards program
Annual fee
Bonus points
Earn rate per $1
Amplify Rewards$279200,0001.5 points uncappedAmplify Signature
Earn up to 200,000 Bonus Amplify Rewards Points over 2 years (100k yr 1, 100k yr 2) when you spend $12k on eligible purchases each year. New cards only, Eligibility criteria and T&Cs apply. Offer ends 28th September 2021.
- Intro rate
- -
- Ongoing Purchase rate
- 19.74% p.a.
- Balance transfer rate
- 0% p.a. for 15 months and then 21.49% p.a. (1.00% balance transfer fee)
- Cash advance
- 21.49% p.a.
- Interest free days on purchases
- 55
- Foreign exchange
- 3.00%
- Late payment
- $15.00
- Points earning
- 1.5 points per dollar on Visa, uncapped
- Reward point expiry
- Never
- Bonus points
- 200,000
- Rewards
- Points
- 15,600 points
- 212,000 points
- 22,200 points
- Card Benefits
- Concierge,
Travel Insurance,
Extended Warranty,
Purchase Protection,
Guaranteed Pricing,
Rental Car Excess Cover
Read our Mozo Review to learn more about the Amplify Signature
^See information about the Mozo Experts Choice Rewards Credit Cards Awards
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