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Commonwealth Bank $50 Cash Back on New Credit Cards

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Commonwealth Bank $50 Cash Back on New Credit Cards
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daffyd on 06/08/2013 - 17:52 commbank.com.au (692 clicks)

Commonwealth Bank are doing $50 Cash back on new credit cards

If have a 'qualifying' loan or account they will give a discount so that their 'Low Fee' cards have no annual fee (for at least the first year, longer if you spend $1,000/$10,000 for gold), otherwise it's at least $24 (which is still a lower cost than the cash back if you cancel in the first year).
https://www.commbank.com.au/personal/credit-cards/preferenti…

If you are a student, their student card is also fee free for as long as you are a student.

Other cards are probably not worth the expense to get $50, unless you happened to want that card anyway.

Relevant T&Cs:
Things to know before you Can:
*Applications for finance are subject to the Bank's normal credit approval. Full conditions of use will be included in our Letter of Offer. Fees and charges are payable. Offer only applies to new credit card applications applied for online. Offer is available for a limited time and can be withdrawn at any time at the discretion of the Bank. Excludes Corporate credit cards, Business credit cards and existing credit card accounts. Cannot be used in conjunction with any other offer. To be eligible for the $50 cash back, you need to apply before 30th August 2013, and be approved by 30th September 2013. The cash back will be applied to your account within 60 days of activation. You will be ineligible for the $50 cash back if your account is closed, transferred or in default at any time prior to the cash back being credited to your account.

Financial Credit Card

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Commonwealth Bank
Commonwealth Bank

closed Comments

  • bargaino on 06/08/2013 - 18:07
    +8

    I had major effort getting CBA to honour a similar promotion recently.
    Finally got the $50, but no explanation why i had to fight for it. Not worth the grief.

    Unless you enjoy outsourced helpdesks telling you to email an address that you already told them never answers.
    Thats if you are lucky and do not just get a form-letter reply.

    • Splashtash on 06/08/2013 - 20:10
      +1

      I hard a slight annoying time getting it as well but for some reason in the end , I ended up with 3x$50 ones… lool

  • Tm15 on 06/08/2013 - 18:09

    i just applied last week for one :( do you think id be able to get this still?

    • INFIDEL on 06/08/2013 - 18:16

      Just received my free card.
      Needs to be new online application through the promo link above :-(

      • Tm15 on 06/08/2013 - 18:35

        same, received my card today too. oh well

  • Windows7forever on 06/08/2013 - 18:11

    Cool

  • c64 on 06/08/2013 - 18:19
    +6

    not really worth the effort for a credit card

  • thydzik on 06/08/2013 - 18:22
    +1

    this will be the third $50 cash back from commbank I'm applying for.

    still waiting for the first offer to payout. still hoping

    • bargaino on 06/08/2013 - 18:53
      +2

      waiting won't do it. You have to complain loudly and repeatedly. Polite probably helps too.

  • WaywardOne on 06/08/2013 - 19:07
    +5

    I have applied for the last two Commonwealth Bank promotions and I haven't received anything. I'd be foolish to try a third time…

    • pmupsinep on 06/08/2013 - 20:34
      +1

      3rd time lucky

  • mirovich on 06/08/2013 - 19:19
    +2

    Those bastards didn't give me my $50 last time.

    • muncan on 06/08/2013 - 19:33

      There's still 4 x $50 to be claimed from our friends at ING.

  • moonwalk on 06/08/2013 - 20:02
    +2

    ohhh.. not CBA again =)

  • hilarious on 06/08/2013 - 20:37

    Agree, not worth the time and effort.. And lets hope CBA won't change their T&Cs again like last deal..

  • Turd on 07/08/2013 - 10:13

    There old promo was better. 0% on purchases for 5 months.

  • SummerMan on 08/08/2013 - 10:39

    …If you are a student, their student card is also fee free for as long as you are a student…

    The issue is PhD scholarship for student doesn't count as income as far as CBA is concerned…

    Any suggestion?

  • georgedn on 08/08/2013 - 15:03
    +1

    i was quite pleased today to find they'd paid the $50 for opening a MyWealth account and holding $1000 in it for 4 weeks, a deal which I'd found through Ozbargain. I wasn't expecting them to pay it since their T&Cs said it was only for people who received the offer by email.

  • spendinghacker on 26/08/2013 - 11:07
    +1

    Just a word of warning if I may:

    I am all for getting as much free cash from the banks as you can and ANY means of achieving that is fair game (provided it is legal obviously, going into a branch wearing a balaclava doesn't count).

    Saying that though, the story is different when you need to apply for a credit product (loan or credit card) in order to get the said cash.

    I would strongly discourage people from taking up this offer unless they have carefully reviewed this credit card product including: features, interest rate and associated fees and are comfortable to keep this card for a period of 12 months as an absolute minimum (preferably more) and are happy not to apply for any other credit card during that time.

    The reason for this is that, unlike banking products involving your own money (transaction accounts, savings accounts, term deposits etc), any application for credit is recorded and put on your personal credit file where it stays for 5 years from the day of application.

    Furthermore, this application gets recorded and stays on your file for this entire duration regardless of if your application was successful or not and it is not removed even if you pay off the card in full and close the account.

    Basically, once your credit file is 'touched' by the finance provider, this record stays for 5 years and nothing can remove it from there.

    This is not an issue by itself but could pose a problem if you start accumulating too many such 'touches' in a short time frame (say 2-3 years) and especially if all those records relate to the same type of credit (e.g credit card).

    This could flag you as 'high risk' to future lenders and could be especially detrimental if you plan on taking a mortgage (either new purchase or refinance).

    Therefore, please think very carefully before jumping on this one.

    If you are happy to have this card for the next 12-18 months and not apply for ANY other credit cards during that time, then by all means, go for your life.

    Otherwise, my advice is to sit this one out.

  • maxchoc on 28/08/2013 - 22:29

    Any one know if this "CASH BACK" on purchases made or just $50 payment?

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