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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 - Bonus 100,000 Awards Points (after $5000 Spend). $0 Annual Fee (with $2500 Monthly Spend)
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E5TOQUE on 30/01/2020 - 10:36 commbank.com.au (2279 clicks)
Last edited 30/01/2020 - 11:20

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
Financial Credit Card Ultimate Awards

Related Stores

Commonwealth Bank
Commonwealth Bank

closed Comments

  • maverick1 on 30/01/2020 - 10:40
    +3

    Combank have finally upped their points game.

    • daft009 on 30/01/2020 - 12:15

      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

  • jjyq28 on 30/01/2020 - 10:45
    +1

    is it free with home loan package?

    • ExtraSalt on 30/01/2020 - 10:51
      +2

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

      • senorclean on 30/01/2020 - 10:55
        +2

        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.

        • xdivino on 30/01/2020 - 10:58
          +3

          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.

          • senorclean on 30/01/2020 - 11:22
            +2

            @xdivino: Fair call - might be time for a refinance mid-year for me too.

  • jazzleg on 30/01/2020 - 10:45
    +15

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

    • wikiwiki on 30/01/2020 - 10:49

      sneaky

    • E5TOQUE on 30/01/2020 - 10:57
      +2

      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.

      • Danstar on 30/01/2020 - 11:04
        +4

        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

        • E5TOQUE on 30/01/2020 - 11:05
          -1

          Spot on.

        • incipient on 30/01/2020 - 11:23
          +2

          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.

  • Kapitoshka on 30/01/2020 - 10:48
    +5

    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…

    • ExtraSalt on 30/01/2020 - 10:52

      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?

      • Kapitoshka on 30/01/2020 - 11:01
        -4

        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.

        • ExtraSalt on 30/01/2020 - 11:11

          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.

    • E5TOQUE on 30/01/2020 - 11:14

      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.

  • solidice on 30/01/2020 - 10:48
    +22

    $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?

      • brongz on 30/01/2020 - 11:21
        +1

        CommBank isn’t the only one we have CC with. I believe anyone who have CC, most will have more than one CC in their wallets.
        And I agreed with others, CommBank isn’t the best bank yet.

    • maverick1 on 30/01/2020 - 11:09
      +3

      I see it as free 50K Velocity points.
      Spend 5000/7500 across 2/3months i.e till the points come through and then close the card account. YMMV.

      • E5TOQUE on 30/01/2020 - 11:21

        yep spot on

    • DrRalph on 30/01/2020 - 15:58
      +2

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

      Note even close. Nearly $1500 for this one:

      https://www.pointhacks.com.au/american-express-platinum-meta…

  • nightelves on 30/01/2020 - 10:50
    +11

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

    • E5TOQUE on 30/01/2020 - 10:58

      If you are spending $2500 per month to have no fee, you will hit that within 2 months easily. Its not going to be a problem for most people that meet the minumum spending requirements.

      • nightelves on 30/01/2020 - 11:00
        +2

        $2500 per month is still a lot to spend and I don’t think Commbank counts governement spend as eligible spend.

        • E5TOQUE on 30/01/2020 - 11:07

          $2500 a month on expenses really isn't much for most households with more then 1 person in it.

        • Hellochris on 30/01/2020 - 11:09
          +2

          Not commenting about the card itself but
          $2500 a month is (unfortunately) easy with 2 kids at daycare + groceries + petrol

        • AssociatedBaghern @ Commonwealth Bank on 01/02/2020 - 19:52

          CBA does not count bpay as eligible purchases

          So no points

          Also no longer associated with the bank, just dont know where to turn it off

          edit: found it

  • wikiwiki on 30/01/2020 - 10:51
    +2

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

    • Chridim on 30/01/2020 - 12:59
      +4

      Why negging then.

  • douglasac10 on 30/01/2020 - 10:52
    +1

    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).

    • E5TOQUE on 30/01/2020 - 11:02
      -3

      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?

      • nightelves on 30/01/2020 - 11:06
        +6

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

        • E5TOQUE on 30/01/2020 - 11:09
          +1

          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.

  • sp3tsnaz on 30/01/2020 - 10:53
    +3

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

    • mandelbrot on 30/01/2020 - 11:20

      Was just about to switch. Lucky I saw this comment. Didn't catch it in my brief scroll of the t&c

    • E5TOQUE on 30/01/2020 - 11:25

      I just updated the deal. I only just saw that in the fine print.

  • zerog101 on 30/01/2020 - 10:55
    +6

    Terrible earn rate as well for a top tier credit card

    • E5TOQUE on 30/01/2020 - 11:03

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

  • bargainsteve1 on 30/01/2020 - 11:01

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

    • E5TOQUE on 30/01/2020 - 11:04

      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…

    • nightelves on 30/01/2020 - 11:11

      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.

      • E5TOQUE on 30/01/2020 - 11:17

        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.

        • nightelves on 30/01/2020 - 11:22
          +2

          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.

        • bargainsteve1 on 30/01/2020 - 11:31

          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.

      • FuRyZ on 30/01/2020 - 12:23
        +2

        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.

        • nightelves on 30/01/2020 - 12:35

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

          • FuRyZ on 30/01/2020 - 12:50

            @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.

            • nightelves on 30/01/2020 - 12:54

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

              • FuRyZ on 30/01/2020 - 13:23

                @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.

      • Polt on 30/01/2020 - 16:11

        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"

        • nightelves on 30/01/2020 - 16:14
          +1

          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.

    • Pcoder on 30/01/2020 - 11:13

      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.

    • arctan on 30/01/2020 - 14:58

      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.

  • StopSpending on 30/01/2020 - 11:04

    What sort of income will I need to qualify?

    • pippohippo on 30/01/2020 - 11:13

      $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….

  • Hardlyworkin on 30/01/2020 - 11:07
    +1

    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.

  • bs0 on 30/01/2020 - 11:14
    +2

    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…

    • E5TOQUE on 30/01/2020 - 11:26

      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…

      • bs0 on 30/01/2020 - 11:56
        +3

        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

        • bargainsteve1 on 30/01/2020 - 12:05

          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?

          • nightelves on 30/01/2020 - 12:17

            @bargainsteve1: 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.

          • bs0 on 30/01/2020 - 12:25

            @bargainsteve1: 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.

        • pantsparty on 30/01/2020 - 12:27

          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.

          • bs0 on 30/01/2020 - 13:33

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

    • DrRalph on 30/01/2020 - 16:02

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

      • bs0 on 30/01/2020 - 17:54

        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.

        • DrRalph on 30/01/2020 - 20:42

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

          • bs0 on 30/01/2020 - 21:05

            @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.

            • DrRalph on 30/01/2020 - 21:18

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

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

    • Ameowzon on 30/01/2020 - 23:48

      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!

  • jjyq28 on 30/01/2020 - 11:20

    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.

    • E5TOQUE on 30/01/2020 - 11:22

      Interesting…

      I'm going to call and ask too.

      • sp3tsnaz on 30/01/2020 - 12:00

        Let me know how you go please.

    • mandelbrot on 30/01/2020 - 11:31

      But you don't get the bonus points?!

      • E5TOQUE on 30/01/2020 - 11:41

        I’m waiting on hold to ask that at the moment

    • AussieGargain on 30/01/2020 - 16:03

      That’s not what they told me. They said ultimate card isn’t on the credit card eligibility list. Just stating what they told me. And 100k points won’t be awarded to existing credit card holders assuming homeload package holders having the CBA CC already.

  • MattyAu on 30/01/2020 - 11:25

    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.

  • Repposh on 30/01/2020 - 11:29
    +2

    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

  • xinyi on 30/01/2020 - 11:37
    +3

    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.

    • oobadeedee on 30/01/2020 - 11:50
      +1

      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.

      • xinyi on 30/01/2020 - 11:58
        +2

        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.

    • MoonlightHunter on 30/01/2020 - 11:59
      +1

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

  • coxymla on 30/01/2020 - 11:37
    +1

    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.

  • Tee Rex Arms on 30/01/2020 - 11:42
    +10

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

    • sampede on 30/01/2020 - 14:37
      +1

      true that, dont understand why he needs to defend the bank

  • wantvsneed on 30/01/2020 - 11:44
    +6

    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.

    • xinyi on 30/01/2020 - 11:59
      +1

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

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