Commonwealth Bank Diamond Awards Credit Card

Mozo snapshot:

Credit cards don't get any more premium than the Commonwealth Bank Diamond Awards Card. With a minimum credit limit of $15,000, this is a credit card for high flyers who want a limitless rewards program to match their lifestyle. Depending on where you make purchases with your card, you can earn 1.25 Awards points for every dollar you spend, plus receive free travel, extended warranty and purchase protection insurance and your very own personal concierge to help you plan the perfect night or the perfect holiday. And for a limited time new cardholders will also be eligible to recieve a $200 Amazon gift voucher. It's hardly a surprise then that the card was named a 2018 Mozo Experts Choice Travel Money Award winner in the Rewards Travel Credit Card category.

Key features:

Rewards lovers take note: you'll earn 1.25 points per dollar spent on the CBA Diamond Awards Card, plus access to a range of exclusive offers and discounts through the MasterCard World Privilege Access program. Other benefits include travel insurance (just be sure to activate it before you leave or you'll only have the base level cover), purchase protection and extended warranty.

And when it comes to redeeming your hard earned points, you'll have plenty of freedom. You simply decide what you want to spend your Awards points on - travel, Michelin Star restaurants, high-end fashion, gift cards - you name it. Either your personal concierge will take care of it for you or you can purchase what you like and get cash back onto your card. You can also choose the option of having all Awards points credited to the Qantas Frequent Flyer program ($30 annual fee applies). If you are not already a member of Qantas Frequent Flyer you'll need to pay a once off joining fee which costs $89.50.

The standard rate for purchases is 20.24% and there is a very weighty $349 annual fee but you do get access to top notch 24/7 personal concierge service. There's also a 5.99% balance transfer offer for 5 months. Make sure any debt transferred is paid off within the promo period or you'll end up paying the high cash rate of 21.24% until the balance is paid off.

The lock, block and limit feature of the card gives you extra security when you need it. If you ever misplace your card you can temporarily lock it and unlock it again when you find the card. You can lock overseas in store payments or lock overseas online payments if you don't do any shopping online at overseas sites and then unlock it again when you are travelling or planning on doing some online shopping. You can set a spending cap so that purchases over a set amount will not go through and you can also block ATM cash advances.

Still need some convincing? Well if you sign up for the Diamond Awards Credit Card before February 14, 2019 and spend over $500 before May 31, 2019 the Commonwealth Bank will give you a $200 Amazon gift voucher. Plus if you use your card to purchase an Amazon Prime Membership before May 31, 2019 you’ll have the $59 membership fee refunded.

Who it's good for:

Boasting a limitless rewards program as well as MasterCard usability, the Commonwealth Bank Diamond Awards Card should please all high flyers.