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 typeAwards points earningsConditions
International transactions online or in store3 points per $1 spentUp to $10,000 per statement period
Major Australian supermarkets, department stores and petrol stations2 points per $1 spentUp to $10,000 per statement period
All other purchases1 point per $1 spentUp to $10,000 per statement period
From May 2020, for any spend over $10,00 in a statement period0.5 point per $1 spendAfter 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 18 September 2021

Search promoted rewards credit cards below or do a full Mozo database search. Advertiser disclosure
  • Apply By 4 Oct 2021
    Black Card
    Rewards program
    Annual fee
    Bonus points
    Earn rate per $1
    Kogan Rewards Points
    $0
    No current offer
    1 point uncapped

    Kogan Money Black Card has no annual fee and no cap or expiry date on points. It comes with a 55 interest free days on purchases and a 0% balance transfer rate for the first 12 months. Earn up to $400 in Kogan.com Credit, $50 Credit on first eligible spend in 30 days and $350 Credit when you spend $1,500 on eligible purchases in 90 days from card approval.

    Details
  • Apply By 28 Oct 2021
    Rewards Card
    Rewards program
    Annual fee
    Bonus points
    Earn rate per $1
    PayPal Rewards
    $0
    50,000
    1 point uncapped

    Enjoy 50,000 bonus points (conditions apply). Receive 55 interest free days on purchases and 0% balance transfer rate for the first 20 months.

    Details
  • Apply By 30 Nov 2021
    Altitude Black
    Rewards program
    Annual fee
    Bonus points
    Earn rate per $1
    Altitude Rewards
    $250
    150,000
    1.25 points uncapped

    Earn up to 150,000 bonus Altitude Points ($4k min. spend in the first 90 days on eligible purchases). 0% balance transfer for 18 months. 1% BT fee. $250 annual card fee. New cards only. Offer ends November 30th 2021. T&C's and exclusions apply.

    Details
  • Qantas Rewards Signature Card
    Rewards program
    Annual fee
    Bonus points
    Earn rate per $1
    Qantas Frequent Flyer
    $395 $295 in the first year
    110,000
    1 point up to $5,000/month, then
    0.5 points up to $20,000/month

    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.

    Details
  • Apply By 26 Oct 2021
    Explorer® Credit Card
    Rewards program
    Annual fee
    Bonus points
    Earn rate per $1
    Membership Rewards
    $395
    150,000
    2 points uncapped

    Receive 150,000 Bonus Membership Rewards Points when you apply online by 26 October 2021, are approved and spend $3,000 on your new Card within the first 3 months. T&Cs apply. New Card Members only.

    Details
  • Amplify Rewards Signature
    Rewards program
    Annual fee
    Bonus points
    Earn rate per $1
    Rewards
    $279
    200,000
    1.5 points uncapped

    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 November 30th 2021.

    Details
  • Apply By 13 Dec 2021
    Velocity Platinum Card
    Rewards program
    Annual fee
    Bonus points
    Earn rate per $1
    Velocity Frequent Flyer
    $375
    120,000
    1.25 points uncapped

    Receive 120,000 bonus Velocity Points and 120 Status Credits when you apply online by 13 December 2021, are approved and spend $4,500 on your new Card within the first 3 months. New Card Members Only. Enjoy a complimentary domestic return flight with Virgin Australia to selected cities, each year after your first card spend.

    Details
  • Velocity Escape Card
    Rewards program
    Annual fee
    Bonus points
    Earn rate per $1
    Velocity Frequent Flyer
    $0
    No current offer
    0.75 points uncapped

    Earn up to 1.75 Velocity Points. Have limited stress with the Velocity Escape with no annual fee. Credit Card Provider of the Year in the Mozo Experts Choice Awards 2020^. T&C’s apply

    Details
  • Apply By 30 Nov 2021
    Altitude Platinum
    Rewards program
    Annual fee
    Bonus points
    Earn rate per $1
    Qantas Frequent Flyer
    $200 $149 in the first year
    60,000
    0.5 points uncapped

    Earn up to 60,000 bonus Qantas Points ($3k min. spend in the first 90 days on eligible purchases). 0% p.a. for 18 months on balance transfers requested at card application. 1% BT fee applies. $99 + $50 Annual Qantas Rewards card fee for the first year. New cards only. Offer ends November 30th 2021. T&C's and exclusions apply.

    Details
  • Qantas Rewards Premium Card
    Rewards program
    Annual fee
    Bonus points
    Earn rate per $1
    Qantas Frequent Flyer
    $250
    65,000
    0.66 points up to $3,000/month, then
    0.33 points up to $6,000/month

    65,000 bonus Qantas Points when you spend $2,500 within 60 days (T&Cs apply).

    Details
  • Apply By 20 Oct 2021
    American Express Platinum Card
    Rewards program
    Annual fee
    Bonus points
    Earn rate per $1
    Qantas Frequent Flyer
    $295
    35,000
    0.5 points uncapped

    Earn 35,000 Qantas Points or 70,000 Membership Rewards Points when you apply online by 20 October 2021, are approved and spend $1,500 at locations excluding David Jones on your new Card within the first three months. Available to new David Jones American Express Platinum Card Members only.

    Details
  • Amplify Qantas Platinum
    Rewards program
    Annual fee
    Bonus points
    Earn rate per $1
    Qantas Frequent Flyer
    $99
    60,000
    0.5 points uncapped

    Earn 60,000 bonus Qantas Points (min $3,000 spend in the first 3 months). New cards only, Eligibility criteria and T&Cs apply. Offer ends November 30th 2021.

    Details
  • Apply By 20 Oct 2021
    American Express Card
    Rewards program
    Annual fee
    Bonus points
    Earn rate per $1
    Membership Rewards
    $99
    50,000
    1 point uncapped

    Earn 50,000 Membership Rewards Points or 25,000 Qantas Points when you apply online by 20 October 2021, are approved and spend $1,500 at locations excluding David Jones on your new Card within the first three months. Available to new David Jones American Express Card Members only.

    Details
  • Amplify Qantas Signature
    Rewards program
    Annual fee
    Bonus points
    Earn rate per $1
    Qantas Frequent Flyer
    $279
    90,000
    0.75 points uncapped

    Earn 90,000 bonus Qantas Points - when you spend $6,000 on eligible purchases within 90 days of card approval (T&Cs apply)

    Details
  • Rewards Platinum Card
    Rewards program
    Annual fee
    Bonus points
    Earn rate per $1
    NAB Rewards
    $195
    60,000
    1 point uncapped

    Up to 60,000 bonus points (T&Cs apply). Also get 1 NAB reward point for every $1 spent on everyday purchases.

    Details
  • Amplify Rewards Platinum
    Rewards program
    Annual fee
    Bonus points
    Earn rate per $1
    Qantas Frequent Flyer
    $99
    60,000
    0.5 points uncapped

    Earn 60,000 bonus Qantas Points (min $3,000 spend in the first 3 months). New cards only, Eligibility criteria and T&Cs apply. Offer ends November 30th 2021.

    Details
  • Apply By 30 Nov 2021
    Altitude Platinum
    Rewards program
    Annual fee
    Bonus points
    Earn rate per $1
    Altitude Rewards
    $150 $49 in the first year
    130,000
    1 point uncapped

    Earn up to 130,000 bonus Altitude Points ($3k min. spend in the first 90 days on eligible purchases). 0% p.a. for 22 months on balance transfers requested at card application. 1% BT fee applies (rate reverts to the variable cash advance rate after). Discounted annual card fee of $49 for the first year ($150 thereafter). New Cards only. Offer ends November 30th 2021. T&C's and exclusions apply.

    Details
  • Qantas Discovery Card
    Rewards program
    Annual fee
    Bonus points
    Earn rate per $1
    Qantas Frequent Flyer
    $0
    10,000
    0.75 points uncapped

    Receive 10,000 bonus Qantas Points when you apply by online by 27 October 2021, are approved and spend $750 on your new Card within the first 3 months. Offer available to new Card Members only. Mozo Experts Choice Qantas Frequent Flyer Credit Card Winner 2020.

    Details
  • Qantas Premium Card
    Rewards program
    Annual fee
    Bonus points
    Earn rate per $1
    Qantas Frequent Flyer
    $249
    30,000
    1 point uncapped

    Receive 30,000 bonus Qantas Points when you apply online, are approved and spend $3,000 on your new Card within the first 3 months. T&Cs apply. New Card Members only. Credit Card Provider of the Year in the Mozo Experts Choice Awards 2020^.

    Details
  • Amplify Rewards Platinum
    Rewards program
    Annual fee
    Bonus points
    Earn rate per $1
    Rewards
    $99
    80,000
    1 point uncapped

    80,000 bonus Amplify Points (min $3,000 spend within 90 days. 0% p.a. for 15 months on balance transfers requested at card application (1% BT fee). New cards only, Eligibility criteria and T&Cs apply. Offer ends November 30th 2021.

    Details
  • Cashback Credit Card
    Rewards program
    Annual fee
    Bonus points
    Earn rate per $1
    Cashback Rewards
    $120 $0 in the first year
    No current offer
    1 point uncapped

    Get 5% Bonus Cashback in the first 3 months and no monthly fee for the first 12 months. Additional 1.5% cashback with American Express Shop Small Campaign (conditions apply). Complimentary perks and insurances. Eligibility criteria and T&Cs apply.

    Details
  • Amplify Rewards Signature
    Rewards program
    Annual fee
    Bonus points
    Earn rate per $1
    Rewards
    $279
    200,000
    1.5 points uncapped

    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 November 30th 2021.

    Details

^See information about the Mozo Experts Choice Credit Card Awards

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