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 - last updated February 27, 2021
St.George Amplify Signature
Earn up to 200,000 Bonus Amplify Rewards Points over 2 years (130k yr 1, 70k yr 2) when you spend $12k on eligible purchases each year. $139 reduced first year annual card fee (normally $279). New cards only, Eligibility criteria and T&Cs apply. Offer ends March 2nd 2021.
Rewards program
Annual fee
Bonus points
Earn rate per $1
Amplify Rewards$279 $139 in the first year200,0001.5 points uncappedCompareCompareAmplify Signature
Earn up to 200,000 Bonus Amplify Rewards Points over 2 years (130k yr 1, 70k yr 2) when you spend $12k on eligible purchases each year. $139 reduced first year annual card fee (normally $279). New cards only, Eligibility criteria and T&Cs apply. Offer ends March 2nd 2021.
- Intro rate
- -
- Ongoing Purchase rate
- 19.74% p.a.
- Balance transfer rate
- 0% p.a. for 6 months and then 21.49% p.a.
- 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
- N/A
- 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
American Express Qantas Ultimate Card
Receive 100,000 bonus Qantas Points when you apply online by 5 April 2021, are approved and spend $3,000 on your new Card within the first 3 months. T&Cs apply. New Card Members only. Mozo Experts Choice Qantas Frequent Flyer Premium Credit Card Winner 2020^. T&C’s apply
Rewards program
Annual fee
Bonus points
Earn rate per $1
Qantas Frequent Flyer$450100,0001.25 points uncappedCompareCompareQantas Ultimate Card
Receive 100,000 bonus Qantas Points when you apply online by 5 April 2021, are approved and spend $3,000 on your new Card within the first 3 months. T&Cs apply. New Card Members only. Mozo Experts Choice Qantas Frequent Flyer Premium Credit Card Winner 2020^. T&C’s apply
- 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
- 1.25 points per dollar on Amex, uncapped
- Reward point expiry
- Never
- Bonus points
- 100,000
- Rewards
- Points
- 8,000 points
- 110,400 points
- 18,770 points
- Card Benefits
- Travel Insurance,
Purchase Protection,
Account alerts by SMS
Read our Mozo Review to learn more about the Qantas Ultimate Card
NAB Qantas Rewards Signature Card
NABs fastest way to earn Qantas Points. 130,000 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. 7 complimentary insurances when you meet eligibility criteria including Overseas Travel Insurance.
Rewards program
Annual fee
Bonus points
Earn rate per $1
Qantas Frequent Flyer$395 $295 in the first year130,0001 point up to $5,000/month, then
0.5 points up to $20,000/monthCompareCompareQantas Rewards Signature Card
NABs fastest way to earn Qantas Points. 130,000 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. 7 complimentary insurances when you meet eligibility criteria including Overseas Travel Insurance.
- 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
- 130,000
- Rewards
- Points
- 8,000 points
- 110,400 points
- 18,770 points
- Card Benefits
- Concierge,
Travel Insurance,
Extended Warranty,
Purchase Protection,
Guaranteed Pricing,
Domestic Hotel Burglary Insurance
Read our Mozo Review to learn more about the Qantas Rewards Signature Card
BankSA Amplify Signature
Earn up to 200,000 Bonus Amplify Rewards Points over 2 years (130k yr 1, 70k yr 2) when you spend $12k on eligible purchases each year. $139 reduced first year annual card fee (normally $279). New cards only, Eligibility criteria and T&Cs apply. Offer ends 2nd March 2021.
Rewards program
Annual fee
Bonus points
Earn rate per $1
Amplify Rewards$279 $139 in the first year200,0001.5 points uncappedCompareCompareAmplify Signature
Earn up to 200,000 Bonus Amplify Rewards Points over 2 years (130k yr 1, 70k yr 2) when you spend $12k on eligible purchases each year. $139 reduced first year annual card fee (normally $279). New cards only, Eligibility criteria and T&Cs apply. Offer ends 2nd March 2021.
- Intro rate
- -
- Ongoing Purchase rate
- 19.74% p.a.
- Balance transfer rate
- 0% p.a. for 6 months and then 21.49% p.a.
- 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
- N/A
- 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
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 uncappedCompareCompareQantas 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
- 18,770 points
- Card Benefits
- Purchase Protection,
Account alerts by SMS
Read our Mozo Review to learn more about the Qantas Discovery Card
NAB Qantas Rewards Premium Card
30,000 bonus Qantas Points when you spend $2,500 within 60 days (T&Cs apply).
Rewards program
Annual fee
Bonus points
Earn rate per $1
Qantas Frequent Flyer$25030,0000.66 points up to $3,000/month, then
0.33 points up to $6,000/monthCompareCompareQantas Rewards Premium Card
30,000 bonus Qantas Points when you spend $2,500 within 60 days (T&Cs apply).
- 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
- 0.66 points per dollar on Visa, up to $3,000 per month, then
0.33 points per dollar on Visa, up to $6,000 per month
- Reward point expiry
- Never
- Bonus points
- 30,000
- Rewards
- Points
- 8,000 points
- 110,400 points
- 18,770 points
- Card Benefits
- Concierge,
Travel Insurance,
Extended Warranty,
Purchase Protection,
Guaranteed Pricing,
Domestic Hotel Burglary Insurance
Read our Mozo Review to learn more about the Qantas Rewards Premium Card
^See information about the Mozo Experts Choice Rewards Credit Cards Awards
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