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Commbank Ultimate Awards Credit Card - Bonus 100,000 Awards Points (after $5000 Spend). $0 Annual Fee (with $2500 Monthly Spend)

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Commbank Ultimate Awards Credit Card

Commbank have just released this new credit card. The main attractions are:

  • Point earning card with no international fee
  • No annual/monthly fee if you spend $2500 per month on the card. If you can't meet that requirement there are better products out there (like the Coles one)

The credit card can be found on the Ozbargain Wiki that lists all the credit and debit cards with no international fees, so you can easily compare: https://www.ozbargain.com.au/wiki/cards_with_no_overseas_tra...

Bonus Points (FOR NEW CUSTOMERS ONLY)

  • 100,000 Bonus Commbank Awards Points are issued after a $5000 within 90 days of activation.

Features

  • No International Fee
  • $0 monthly fee if you spend $2500 per statement period, otherwise there is a $35 fee.
  • $0 Additional Card Holder Fee
  • No Cap on points earning
  • Access to Loungekey lounges worldwide (additional cost)
  • 55 Days interest free
  • $6000 minimum credit limit
  • Apple Pay, Google Pay and Samsung Pay Support

Points Earning (no expiry on Commbank Awards Points)

  • 3 Points per $1 spent on international transactions
  • 2 Points per $1 spent on groceries or fuel
  • 1 Point per $1 for anything else
  • 0.5 points per $1 for anything over $10,000 per statement period from May 1st onwards.

Velocity Point redemption rate

  • 2 Commbank Awards Points to 1 Velocity Point (2:1)

QANTAS Point redemption rate

  • 2.5 Commbank Awards Points to 1 QANTAS Point (2.5:1)

Insurances

  • Travel Insurance
  • Extended Warranty
  • Purchase Security
  • Price Guarantee

Related Stores

Commonwealth Bank
Commonwealth Bank

closed Comments

  • Combank have finally upped their points game.

    • not really.
      the winner is the 3ppd (1.5VFF) on overseas foreign currency.
      otherwise pretty standard for local spend

      no free lounge access either. just free membership

  • is it free with home loan package?

    • nope i literally tried this over the phone yesterday. Bunch of fools!

      • Yep - "Not eligible for Wealth Package benefits"

        Tempting to switch over from Diamond Awards - would be nice to get back some of the value we used to have with Amex.

        • I refered two friends to CBA and signed up wealth packages, they got diamond cards, i asked to be upgraded from Platinum. NOPE, sorry you're not eligible… so gonna ditch them for any better offer ASAP, prob the stgeorge $4k deal.

  • $35 monthly fee…
    "$0 monthly fee if you spend $2500 per statement period, otherwise there is a $35 fee."

    • If you put $2500 of monthly expenses through the card its an easy win.
      For most households with more then 1 person it would be pretty easy I would imagine?

      If you can't do that, either look to leverage the $0 additional card holder.

      If you not, its prob not the card for you.

      • Exactly. Not really a rip since they are directly advertising that charge. And if you’re not spending approx. $2500 per month on general expenses/bills. Then this (or any) credit card isnt for you

        • Spot on.

        • Wait you're saying if I don't spend $2500/mo then I shouldn't have a credit card? Actually I came to say that's nonsense, but actually you're right. If you don't spend enough to make the "rewards" bit of a cc give you solid return (eg offset annual fees) then you should stick to a debit card.

  • Too little too late, moved to ING after being with CBA for 17 years and they would not reimburse international fees, had no plan B for points earning after cancelling AMEX and charged one of the highest annual fee for their Platinum card…
    Good to see them trying, but they left very sour taste as reward for loyalty…

    • i get it and i am pretty annoyed as well but why would they reimburse your international fees if that was not an inclusion with your previous Rewards CC?

      • You're right. However, when all or most of your competitors are doing that what could they do. I guess they lost me and others like me as their clients. They could be more agile and find a compromise, instead they didn't even want to listen, which made my decision.

        • ye i agree but their argument would have been Low Rate Gold card has no international fees. I totally would've cancelled my Amex yesterday if they could upgrade my platinum card to this via wealth package but they wouldn't budge. My amex is only there for Waived International Fees, groceries, petrol and Officeworks because those are all triple points.

    • Did the Commbank Low Fee Gold card with no international fee exist back when you moved to ING? I'm not sure how long that one has been around.

  • $35 monthly fee unless $2500 is spent each month. In other words a $420 annual fee unless you spent $30,000 in the first year.

    Could this be nominated as the most expensive credit card deal in history?

  • 50k Velocity or 40k Qantas point and $5k spend is quite high.

  • I guess it's a free 40k QFF points if you spend the $5k and then cancel.

  • Sign up bonus is bad if you're after frequent flyer points - equivalent to 40000 Qantas or 50000 Velocity.

    You can get better with both on Platinum cards from other banks (e.g. 50K on ANZ Qantas Platinum, 75K Velocity on ANZ Travel Rewards).

    • Those card's don't waive international fee's though.
      And do those cards hit with you an annnual fee? Or are they free for the first year?

      • Anz Travel Rewards does. Please do your research before saying that it doesn’t.

        • Sorry, I missed that you mentioned the ANZ Travel Rewards card.

          ANZ Travel Rewards is a solid card if you leverage the free flight. If you don't its not as good as this Commbank card.

          • $65 Additional Card Holder Fee
          • Velocity Point earn rate is worse
          • Point earn rate is worse
          • Annual Fee regardless of how much you spend. If you don't leverage the free flight every year the annual fee is a waste.

          And I guess you could still jump on a Virgin Flight for the cost of the ANZ annual fee ($225) with the Commbank card and you will still be ahead.

  • Bonus points also not valid for existing customers looking to switch to this card… so yeah… pretty poor offer.

  • Terrible earn rate as well for a top tier credit card

    • If you are after a point earning card with no international fee going off that wiki it's one of the better ones.

  • What's currently the best rewards card with no international fees?

    • The wiki is here. Compared to the other products on the market this is not too bad.

      https://www.ozbargain.com.au/wiki/cards_with_no_overseas_tra...

    • Anz Rewards Travel Adventure card. You get a return domestic, no international transaction fees, two velocity lounge passes and 75k velocity points for $225 annual fee. The flight to Perth alone is worth $400 which means Anz is losing money.

      • Yep spot on. If you are flying east coast to Perth every year, its an easy win.

        You would need to sit down and calculate how far ahead you would be with the ANZ vs the Commbank card. If you dont fly to Perth every year and want an additional card holder (like your partner), the Commbank card may give you better value.

        • Have you ever check domestic flight during peak season. Even if not flying to Perth you’re still getting your annual fee back through flying to other cities during peak period. Even off peak, Virgin hardly charge $225 return to any cities around Australia.

        • Thanks, I currently have a CBA platinum rewards card which became a joke once the Amex additional card was removed. Looks like I won't even get the sign up bonus for switching to this CBA Ultimate Rewards Card since I already have a CBA platinum rewards card. Sounds like it's time to switch to ANZ.

      • You had me until you said $225 annual fee. I think the Commbank card works out better if you can maintain the $2500 spend per month and you dont do much flying.

        Ultimately either of these cards come with a lot of caveats, neither is a one size fits all.

        • Are you looking a points earning credit card with no annual fee?

          • @nightelves: Currently have a HSBC Platinum for that exact reason. But it lacks the international transaction waiver, so I have a second CC purely for international fees.

            The Commbank card does appear to suit me well. But I still have to plug all my numbers into some spreadsheets to calculate my potential points earnings using my existing spending numbers. It is a bit frustrating the 3 tiers of points earnings, its going to take some effort for me to get accurate points totals using previous statements.

            • @FuRyZ: I find you don't get that much points for a no fee credit card these day. YMMV.

              • @nightelves: Normally I would agree with you, but I was surprised by the HSBC Platinum. That being said, its not completely free, annual fee is waived after spending $6000 a year which is extremely easy. And it does come with some decent perks such as free Loungekey passes. Rewards program is okay at 1 point per dollar, I still manage to generate a few hundred dollars worth of gift cards every year. Though the point exchange rate could be better.

      • I'm curious - has anyone had experience with actually using/booking the free flight? Is there decent availability around weekends or holidays? The T&C's do say availability is "limited"

        • Yeap. All you need to do is make sure when finding availability that the flight can be booked with points. If so the flight will be available for redeeming. Also note flight needs to be book 60 days in advance. It says limited because only direct flights can be booked.

    • Probably ANZ travel adventures, which although has a $225 fee, does have enough perks (Free domestic flight,2 Virgin Lounge passes) to make up for the fee (Excellent value on East Coast-Perth flights). The card gets around .75 Virgin points per dollar (Below $2000 spend a month, less on over that amount).

      Last year they even had a promo (+30%) on Velocity transfers that effectively made it 0.975 Velocity points per dollar.

    • Coles premium MC is another one. $99 annual fee with 100k flybuys points (around 50k velocity) if you wait for 15% transfer bonus and it's regular promotion.
      It has no international fees and uncapped points earning.
      It's 2 flybuys point per dollar spend or 3 flybuys if you shop in Coles. Good earn rate as it's 1 - 1.5 velocity point per dollar spend. That is probably the best you can get if you are into velocity points.

  • What sort of income will I need to qualify?

    • $6k minimum limit. If you are full time on minimum wage, you can probably still get this card. Although if you don't earn more than $2500 per month to at least spend it all, this isn't the card for you. Banks would like to charge you that monthly fee and interest….

  • I'm in the market for a new card with a decent sign on bonus… It won't be this one. 5Ok virgin points is pretty average, the potential monthly fee is a killer though. Back to the drawing board.

  • +2 votes

    Pretty average for a credit card sign up from past experiences, taking the 40000 Qantas points equivalent.

    The big banks usually give around 80-120k qff points, for no annual fee.

    For example, past ozb deals:

    • St George - 60k Qantas Points, $49 Annual Fee, $2,000 min spend

    • ANZ - 120K Qantas Points + $150 annual fee, $4,000 min spend (has been $0 annual fee in the past)

    • Citibank - 100k point, $49 annual fee, $5k min spend. Another 50k points if you pay the next year's $400 annual fee

    • Qantas Premier Platinum - $199 Annual Fee, 120k points, but min spend $1500/m for 6 months

    • AMEX Qantas Ultimate - 120K Points, $450 annual fee, but you get $450 travel credit, $4.5k min spend

    And the list goes on…

    • All those cards have international fees though.
      If you are after a point earning card that doesnt hit you with international fees you have much less to choose from:

      https://www.ozbargain.com.au/wiki/cards_with_no_overseas_tra...

      • +3 votes

        Fair enough, if you specifically want an international transaction fee free card.

        But take into consideration, a difference of 80000 qff points is maybe $800?

        To "save" $800 in international transaction fees at rate of 2-3%, you need to spend …. a bucket load.

        A better option is to use a fee free debit card (ING, Citi come to mind)n for international purchases, alongside a high points earning credit card

        • I like your idea of just having a debit card without international transaction fees for international purchases/withdrawal. What's currently the best rewards card with sign up bonus?

          • @douglasquade: Anz Rewards Travel Adventure. I was quite fortunate to have a point earning credit card that has no international transaction fees and no annual fee. However that deal no longer exists.

          • @douglasquade: Not sure to be honest, having been looking for a while because I haven't needed to churn my current one.

            Something around 100k bonus, $0 annual fee, 3-5K min spend within 3 months seems to be the most highly voted on ozbargain.

        • 80,000 points is worth closer to $3,000 if you redeem them for a business class reward flight. It’s roughly what you need for a one way business class flight to HK, Japan etc.

          • @pantsparty: And to save $3000 in transactions fees, you would have to spend $3000/0.02 (2% roughly in fees) on international purchases…

    • You say 'for no annual fee' yet every one of your examples includes an annual fee!

      • Yeh fair enough. These are just recent deals I found by going backwards through the Financial section. The $0 annual fee is usually a promo, on top of or with an existing offer.

        But here are some that frequent ozbargain - anz FF black, anz rewards black, st George amplify (a few times), st George signature.

        • You will struggle to find $0 deals anymore. They were frequent but have now all but vanished.

          • @DrRalph: The last one was August 2019, too early to say they've gone completely.

            If you fancy amex, almost all of their cards offset their annual fee with travel credit.

            Regardless, paying a low annual fee is still better than this deal.

            • @bs0: I didn't claim that they've gone completely. Those were your words.

              And a fee offset is not 'for no annual fee'.

    • I've already gotten St George, ANZ, Citibank, and AMEX, all of which within the past 12 months, which means my options are exhausted, and this is now the next best deal for me. Prove me wrong, those 13 of you who negged this deal.

      Thanks!

  • I just called CBA and confirmed if you are the home loan package customer and switch the current card to this new card, it will be free.

  • How many points does it cost for something like a $10 Gift card? Trying to compare to Flybuys rewards, but can't find what Commbank Awards charge in points.

  • Commbank can be very difficult to deal with - was declined for a card due to an administrative error on their behalf and had to go through the FOS to get that fixed. I would avoid CBA

  • This is the first card that does away with annual fees in favour of monthly fees if spend criteria not met. It’s innovative and even though might not be the best bargain, if it catches on, then other banks may follow suit with better deals. I think it’s a good card just because it tries something different than the stock standard annual fee cards.

    • I agree its innovative. I'm not sure whether it pans out better or worse for the customer though.

      If you have multiple credit cards, meeting minimum spend requirements per month on different cards will be tough/hard to manage. And that is probably what Commbank is estimating, that if its not the primary card, they'll get some more signups enticed by no annual fee, but get a bit extra income from people that don't always meet the minimum spend.

      I for one hope the banks don't move in this direction together.

      • Usually the first mover in any new product or service won’t offer the best deal. It’s only when competition enters the market that deals get better. If more banks enter than the monthly service fee or spend criteria will drop across the board.

    • Agree! I easily spend $2500+ a month. Finally a credit card with "no" annual fee and rewards?

  • FYI

    Offer applies to new Ultimate Awards credit card applications submitted between 28/01/2020 and 30/05/2020 only. To be eligible for the bonus CommBank Awards points, you need to meet the minimum spend of $5,000 on eligible purchases using your new card within the first 90 days of activation (excludes balance transfers, cash advances and any purchase that is reversed or refunded).

    Offer excludes all existing cards, switches from other card types and is not available to customers who currently hold, or have held, any Awards card types in the 12 months prior.

  • OP vociferously defending his deal. Here’s a neg just for the point earning rate.

  • Good luck with keeping a track of statement period in which one has to spend $2500. $2500 spend in a month is not as simple as January February, it could be any day of a month and most likely having more credit cards, it will be easy to miss. Every time you miss the calculation of reaching to $2500 in your specific statement period, it will be $35 charge. GOOD LUCK.

    • NetBank offers many easy to use filters for sorting spending and the commbank app tracks spending. We are not all five year olds sorry.