CBA Diamond Awards MCard vs Amex

[cdchi1]

Feeling a little silly about asking this.

Last year CBA changed my credit card from a Visa to a Mastercard when the Visa expired and a new card was issued.

When they did so, I asked them to send me a 'second' card for travel purposes, just in case I lost one. They did send me one but it was an AMEX

When I queried why not a duplciate Mastercard, they stated they could not send one, but the AMEX transactions would be under the Mastercard ac.

Anyway since then I've only been using the MC for purchases, but am going on a trip to Europe in August.

Thought I would be prudent and check the conditions of the Amex should it be needed, and noticed that the AMEX Diamonds awards are earned at a rate of 3 points per $1 spent compared to the Mastercard Diamond which is at 1.25 per $1 spent.

Couldn't believe I didn't check this before, but am wondering if there are any traps to using the AMEX (other than that foreign intl fees being slightly higher by 0.5% under the AMEX where transaction is in foreign currency).

Seems strange that there would be such a difference unless there is some 'catch'. I don't pay any annual credit card fee at the moment.

I would ring CBA directly but they will no doubt be vague and possibly not completely forward with their responses (as has happened before).

 

[SQ421]

No Catch, apart from some merchants charging a transaction fee for using Amex.

 

[cdchi1]

Cheers SQ, I'll keep an eye out for those transaction fees.

Wish I could wind back my expenditures since then

 

[Walter_Plinge]

No Catch, apart from some merchants charging a transaction fee for using Amex.

I had this card a couple of years ago but cancelled it. The points earn is capped IIRC and the conversion to QFF points is ordinary.

 

[greenfrog86]

The basic concept here is that it costs merchants more to accept Amex and the bank that issues the card get a cut of this. Since they are getting a bigger cut from Amex transactions, they can give you more points in return...

So there's not a catch but there is logic behind the difference.

You'll notice that members of this forum talk A LOT about Amex due to this increased chance for points earn... Have a look around

 

[Pvcmenace]

You would have to spend $25K per month on the Amex or $60K per month on the MC to reach the points cap... Even if you hit the cap thats 1,000,000 CBA points or 500K QFF points. Easy to find places that don't charge Amex fees, less than 20% of my spend is on MC. Just spend smart!

 

[cdchi1]

I had this card a couple of years ago but cancelled it. The points earn is capped IIRC and the conversion to QFF points is ordinary.

Think the cap is 1 million a year which is fine for me, dont get anywhere near enough expenditure to earn those kind of points.

Agree re Qantas conversion which is why I've never done it. I usually just convert the points to cash.

Thanks for all the responses!

 

[SQ421]

It is an effective 1.5 QFF Point per Dollar Spent.

Not altogether bad IMHO, but as always, YMMV.

 

[Pukka]

I think you have to opt in to the QFF points earn and they transfer all your points monthly but you can't transfer existing points. That's what I was told his morning anyway.

I've had this diamond card for ages but I never use it because I use the Citi Sig Select for virtually everything, ( I used to use Amex) but there are some months when it means loading the card up to cover the tax bills so I might actually start using the Amex side to get some good points and a bit of free extra interest free time

 

[Simo]

I use the AMex as much as possible for the extra points.

 

[legroom]

I use the AMex as much as possible for the extra points.

+1

With the proviso that I will not be paying any AMEX surcharge.

If it is demanded by the merchants, I would use an alternative card (Citi Select Visa)

1.5:1 earn is the best there is for general spend (excluding QF purchases of course where you can get 2:1 earn rate on some cards)

 

[cdchi1]

With the 3 points for $1 spent on the Diamond AMEX I think it actually works better than debit even if there is an AMEX charge of say 1%.

Each point (if doing a cash redemption of the points) is worth 0.5c. So 3 points is worth on a $1 spent is worth 1.5c, or 1.5%.

Is my reasoning right here?

 

[legroom]

With the 3 points for $1 spent on the Diamond AMEX I think it actually works better than debit even if there is an AMEX charge of say 1%.

Each point (if doing a cash redemption of the points) is worth 0.5c. So 3 points is worth on a $1 spent is worth 1.5c, or 1.5%.

Is my reasoning right here?

It is possible you confused CBA reward points with QFF points here.

3:1 is for CBA reward points, converting to QFF at the effective ratio of 1.5 QFF points per $ spending (up to the annual cap only, afterwards it drops off to 0.5:1 earn rate)

 

[cdchi1]

No not confused, at least not anymore (was when i posted the OP ) Yes I am talking about reward points not QF conversion. I only recently found out that my AMEX diamond card gives alot more points than my Mastercard even though they are the same a/c.

 

[amaroo]

Looks like my CBA Dia AMEX is finally going to see the light of day after all.....have been an exclusive user of AMEX Ult but come late June......it's no longer any good for my favourite transaction.

Hopefully, the same thing will not occur with this one!

 

[Paddy55]

Love my Comm Bank Amex/Mcard - everything goes on the Amex.
If Amex isn't accepted I use my trusty WW MCard

 

[amaroo]

Looks like my CBA Dia AMEX is finally going to see the light of day after all.....have been an exclusive user of AMEX Ult but come late June......it's no longer any good for my favourite transaction.

Hopefully, the same thing will not occur with this one!

Looks like this card is useless for ATO transactions.......haven't tested myself. From the lips of a rep - ATO is treated as cash advance

Anyone have an update?

 

[Wayne Herring]

Never had an issue using it for ATO transactions, last used it a few weeks ago. Haven't seen anything from them to suggest it has changed since.

 

[amaroo]

Never had an issue using it for ATO transactions, last used it a few weeks ago. Haven't seen anything from them to suggest it has changed since.

Interesting - you are talking about the AMEX not MC?

 

[Wayne Herring]

Sure am. Last did it on June 9, didn't go through as a cash advance.