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 12 October 2024
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Apply By 14 Jan 2025
American Express Qantas Ultimate Card
Qantas Frequent Flyer
$450
50,000
1.25 points up to 100,000 points/year, then
1 point uncappedReceive 50,000 bonus Qantas Points when you apply online by 14 January 2025, are approved, and spend $3,000 on eligible purchases on your new Qantas American Express Ultimate Card within the first 3 months of your approval date. T&Cs apply. Available for new American Express Card Members only.
CompareCompareQantas Ultimate Card
Receive 50,000 bonus Qantas Points when you apply online by 14 January 2025, are approved, and spend $3,000 on eligible purchases on your new Qantas American Express Ultimate Card within the first 3 months of your approval date. T&Cs apply. Available for new American Express Card Members only.
- Rewards program
- Qantas Frequent Flyer
- Annual fee
- $450
- Bonus points
- 50,000
- Earn rate per $1
- 1.25 points up to 100,000 points/year, then
1 point uncapped
- Intro rate
- -
- Ongoing Purchase rate
- 23.99% 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, up to 100000 points per year, then
1 point per dollar on Amex, uncapped
- Reward point expiry
- Never
- Bonus points
- 50,000
- Sydney to Melbourne
- 8000.0
- Sydney to London
- 110400.0
- $100 Gift card
- 20010.0
- Card Benefits
- Account alerts by SMS,
Card Purchase Cover ,
Travel Inconvenience Cover
- Rewards Bonus Points
- 1.25 points per dollar on everyday purchases. Earn 0.5 Qantas Points per $1 spent at government bodies, earn 2.25 Qantas Points per $1 spend on selected Qantas products and services.Exclusions apply. After a total of 100,000 Qantas Points is earned in a calendar year, the everyday earn rate will change from 1.25 to 1 Qantas Points per $1 spent.*
Read our Mozo Review to learn more about the American Express Qantas Ultimate Card
-
G&C Mutual Bank Platinum Visa Credit Card
Qantas Frequent Flyer
$299
30,000
1 point up to 20,000 points/month
Receive 50,000 bonus Qantas Points when you apply, are approved, and spend $5,000 on eligible purchases on your new G&C Mutual Bank Platinum Visa Credit Card within 90 days. T&Cs apply. Available to new G&C Mutual Bank Card Members only. Earn 10,000 bonus Qantas Points annually. T&Cs apply. Access Platinum Visa Concierge. Add an additional cardholder at no extra cost.
CompareComparePlatinum Visa Credit Card
Receive 50,000 bonus Qantas Points when you apply, are approved, and spend $5,000 on eligible purchases on your new G&C Mutual Bank Platinum Visa Credit Card within 90 days. T&Cs apply. Available to new G&C Mutual Bank Card Members only. Earn 10,000 bonus Qantas Points annually. T&Cs apply. Access Platinum Visa Concierge. Add an additional cardholder at no extra cost.
- Rewards program
- Qantas Frequent Flyer
- Annual fee
- $299
- Bonus points
- 30,000
- Earn rate per $1
- 1 point up to 20,000 points/month
- Intro rate
- -
- Ongoing Purchase rate
- 19.99% p.a.
- Balance transfer rate
- No current offer
- Cash advance
- 21.99% p.a.
- Interest free days on purchases
- 50
- Foreign exchange
- 3.00%
- Late payment
- $15.00
- Points earning
- 1 point per dollar on Visa, up to 20000 points per month
- Reward point expiry
- Never
- Bonus points
- 30,000
- Sydney to Melbourne
- 8000.0
- Sydney to London
- 110400.0
- $100 Gift card
- 20010.0
- Card Benefits
- Concierge
- Rewards Bonus Points
- 1 bonus point per dollar on eligible Qantas products and services.
Read our Mozo Review to learn more about the G&C Mutual Bank Platinum Visa Credit Card
-
NAB Qantas Rewards Premium Card
Qantas Frequent Flyer
$295 $195 in the first year
70,000
0.66 points up to $3,000/month, then
0.33 points up to $6,000/month70,000 Bonus Qantas Points. Offer applies to a new NAB Qantas Rewards Premium Card when you spend $2,000 on everyday purchases within 60 days.
CompareCompareQantas Rewards Premium Card
70,000 Bonus Qantas Points. Offer applies to a new NAB Qantas Rewards Premium Card when you spend $2,000 on everyday purchases within 60 days.
- Rewards program
- Qantas Frequent Flyer
- Annual fee
- $295 $195 in the first year
- Bonus points
- 70,000
- Earn rate per $1
- 0.66 points up to $3,000/month, then
0.33 points up to $6,000/month
- Intro rate
- -
- Ongoing Purchase rate
- 20.99% p.a.
- Balance transfer rate
- 0% p.a. for 12 months and then 21.74% p.a. (3.00% 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
- 70,000
- Sydney to Melbourne
- 8000.0
- Sydney to London
- 110400.0
- $100 Gift card
- 20010.0
- Card Benefits
- Concierge,
Travel Insurance,
Extended Warranty,
Purchase Protection,
Rental Vehicle Excess in Australia Insurance
- Rewards Bonus Points
- Bonus points on selected Qantas products and services, including eligible Qantas flights.
Read our Mozo Review to learn more about the NAB Qantas Rewards Premium Card
-
American Express Qantas Premium Card
Qantas Frequent Flyer
$249
20,000
1 point uncapped
Receive 20,000 bonus Qantas Points when you apply, are approved, and spend $3,000 on eligible purchases on your new Qantas American Express Premium Card within 3 months of Card Membership. T&C’s apply. Available to new American Express Card Members only.
CompareCompareQantas Premium Card
Receive 20,000 bonus Qantas Points when you apply, are approved, and spend $3,000 on eligible purchases on your new Qantas American Express Premium Card within 3 months of Card Membership. T&C’s apply. Available to new American Express Card Members only.
- Rewards program
- Qantas Frequent Flyer
- Annual fee
- $249
- Bonus points
- 20,000
- Earn rate per $1
- 1 point uncapped
- Intro rate
- -
- Ongoing Purchase rate
- 23.99% 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 point per dollar on Amex, uncapped
- Reward point expiry
- Never
- Bonus points
- 20,000
- Sydney to Melbourne
- 8000.0
- Sydney to London
- 110400.0
- $100 Gift card
- 20010.0
- Card Benefits
- Account alerts by SMS,
Card Purchase Cover ,
Travel Inconvenience Cover
- Rewards Bonus Points
- Earn 0.5 Qantas Points per $1 spent at government bodies, earn 2 Qantas Points per $1 spend on selected Qantas products and services.
Read our Mozo Review to learn more about the American Express Qantas Premium Card
-
NAB Rewards Signature Card
NAB Rewards
$295 $145 in the first year
180,000
1.25 points uncapped
Earn 100,000 bonus points when you spend $3,000 on everyday purchases within the first 60 days of account opening and 40,000 bonus points when you keep your card for over 12 months (T&Cs apply). Enjoy a reduced annual card fee (from $295 to $195) for the first year. Up to 44 Interest free days on purchases (T&Cs apply). $15,000 minimum credit limit. 0% p.a. on standard balance transfer (BT) rate for 12 months (3% BT fee applies).
CompareCompareRewards Signature Card
Earn 100,000 bonus points when you spend $3,000 on everyday purchases within the first 60 days of account opening and 40,000 bonus points when you keep your card for over 12 months (T&Cs apply). Enjoy a reduced annual card fee (from $295 to $195) for the first year. Up to 44 Interest free days on purchases (T&Cs apply). $15,000 minimum credit limit. 0% p.a. on standard balance transfer (BT) rate for 12 months (3% BT fee applies).
- Rewards program
- NAB Rewards
- Annual fee
- $295 $145 in the first year
- Bonus points
- 180,000
- Earn rate per $1
- 1.25 points uncapped
- Intro rate
- -
- Ongoing Purchase rate
- 20.99% p.a.
- Balance transfer rate
- 0% p.a. for 12 months and then 21.74% p.a. (3.00% 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
- 1.25 points per dollar on Visa, uncapped
- Reward point expiry
- 36 months
- Bonus points
- 180,000
- Sydney to Melbourne
- 15600.0
- Sydney to London
- 239200.0
- $100 Gift card
- 20410.0
- Card Benefits
- Concierge,
Travel Insurance,
Extended Warranty,
Purchase Protection,
Rental Vehicle Excess in Australia Insurance
- Rewards Bonus Points
- -
Read our Mozo Review to learn more about the NAB Rewards Signature Card
-
American Express Qantas Discovery Card
Qantas Frequent Flyer
$0
No current offer
0.75 points uncapped
Earn 1.75 Qantas Points on eligible Qantas products and services per $1 spent (T&Cs apply). Enjoy $0 Annual Card Fee. Get the security of Card Refund and Purchase Cover. Up to four additional Cards at no extra fee. Redeem your points for Classic Flight Rewards (T&Cs apply).
CompareCompareQantas Discovery Card
Earn 1.75 Qantas Points on eligible Qantas products and services per $1 spent (T&Cs apply). Enjoy $0 Annual Card Fee. Get the security of Card Refund and Purchase Cover. Up to four additional Cards at no extra fee. Redeem your points for Classic Flight Rewards (T&Cs apply).
- Rewards program
- Qantas Frequent Flyer
- Annual fee
- $0
- Bonus points
- No current offer
- Earn rate per $1
- 0.75 points uncapped
- Intro rate
- -
- Ongoing Purchase rate
- 23.99% 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
- Sydney to Melbourne
- 8000.0
- Sydney to London
- 110400.0
- $100 Gift card
- 20010.0
- Card Benefits
- Account alerts by SMS,
Card Purchase Cover
- Rewards Bonus Points
- Earn 0.5 Qantas Points per $1 spent at government bodies, earn 1.75 Qantas Points per $1 spend on selected Qantas products and services.
Read our Mozo Review to learn more about the American Express Qantas Discovery Card
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