Wealth package now includes platinum according to phone rep but not the website

[cdp88]

I signed up for the wealth package in May 2010 for a new home loan and was given the gold card. I was originally happy with this until I realised how bad the earn rate was for MC which was where the bulk of my money was spent due to the limited acceptance of Amex. I since stopped using the card and switched to the EDRCC for the 1:1 QFF earn on MC.

In making a call about another matter today I was offered the platinum card which is, according to the phone representative, now the standard card for wealth package. I note the website doesn't say that you get platinum but the wealth package fact sheet does.

Anyway, those of you with the gold on the wealth package looking for a free upgrade to platinum might like to call CBA and ask. I was due for renewal of the package in May so I'm not sure whether they would have done this automatically then or not.

Now I have to think about whether I move my spending partially back to CBA for the 1.5:1 QFF earn on Amex, probably keeping the EDRCC for 1:1 QFF earn on MC.

 

[Febs]

Absolute legend! I just called and had mine (+ supp card) upgraded in 3 minutes. Thanks!

The lady said you do have to ring up and request - they won't automatically send out Plat cards on renewal.

Cheers,
- Febs.

 

[MadFairlane]

Ah, another de-valued "platinum" card...

Time to hit up CBA to get diamond...

 

[pshepvic]

This is actually an old feature that they removed, and have added back in.

I have had a CBA wealth package since 2005 - initially I was given the Gold card, but when I read through the info back then I realised it gave the option of either the Gold or Plat with the package - why they had both I have no idea. Sometime after that (maybe within about 12 months?) they removed the option of the Plat card, although anyone already holding it was able to keep for free.

Last year when Diamond was released, they sent me the offer to upgrade to that at no cost (someone in marketing hit the wrong button I think, as when I called they said that wasn't supposed to happen). I upgraded of course, but then they charged me the annual fee which I had to call to have reversed. I've kept the brochure I received in case it happens again this year, but they assure me that the system is set to not charge a fee.

Anyway, it's good to see the plat card back in the package, however I will say that the MC earn rate even on Diamond is still appalling. You'd think for cards with relatively high fees they could offer at least the same rate on MC as EDR do, on a card that only has an $89 fee.

 

[burmans]

This is actually an old feature that they removed, and have added back in.

I have had a CBA wealth package since 2005 - initially I was given the Gold card, but when I read through the info back then I realised it gave the option of either the Gold or Plat with the package - why they had both I have no idea. Sometime after that (maybe within about 12 months?) they removed the option of the Plat card, although anyone already holding it was able to keep for free.

Last year when Diamond was released, they sent me the offer to upgrade to that at no cost (someone in marketing hit the wrong button I think, as when I called they said that wasn't supposed to happen). I upgraded of course, but then they charged me the annual fee which I had to call to have reversed. I've kept the brochure I received in case it happens again this year, but they assure me that the system is set to not charge a fee.

Anyway, it's good to see the plat card back in the package, however I will say that the MC earn rate even on Diamond is still appalling. You'd think for cards with relatively high fees they could offer at least the same rate on MC as EDR do, on a card that only has an $89 fee.

A bit lazy I guess but what is the difference in earn rates on Gold and platinum. I have a gold that never gets used because the earn rate is rubbish, hopefully the plat is better?

 

[pshepvic]

A bit lazy I guess but what is the difference in earn rates on Gold and platinum. I have a gold that never gets used because the earn rate is rubbish, hopefully the plat is better?

Plat is 1.5 QFF points per $ on Amex but still only 0.5 on MC.


Sent from my iPhone using AustFreqFly app

 

[gibspmuh]

I'll add my voice to those that have done the upgrade - as mentioned above it only took a few minutes to call and I received the cards within a few working days. Now it's a card actually putting some spend through (well the AMEX part of it anyway ).

 

[drron]

I have had the gold wealth package for some time.picking up some US dollars earlier this year I was told the Wealth package now included the Diamond card.I declined the offer as I really dont use my CBA cards-I originally was given a gold visa as well.
My renewal date is November.A week or two later my diamond MC arrived in the mail.Yes diamond,not platinum.

 

[gibspmuh]

I have had the gold wealth package for some time.picking up some US dollars earlier this year I was told the Wealth package now included the Diamond card.I declined the offer as I really dont use my CBA cards-I originally was given a gold visa as well.
My renewal date is November.A week or two later my diamond MC arrived in the mail.Yes diamond,not platinum.

Looks like I'll have to make another call then if that's the case - worst that can happen is they say no.

 

[vitagen]

I had gold originally included in my wealth package, then OT free upg to platinum and then diamond cards arrived in the mail? All I needed to do was call and activate..

 

[Crumden]

If you upgrade from Gold to Plat under the wealth Package, do your existing award points automatically carry over?

 

[legroom]

I had gold originally included in my wealth package, then OT free upg to platinum and then diamond cards arrived in the mail? All I needed to do was call and activate..

Feb 2013 update

Wealth Package only includes the free Platinum card (1.5 on AMEX, 0.5 on MC) which will carry over the balance & points from the Gold MC.

They pointedly refused to offer the Diamond card for free.

Only at a reduced annual rate, $395 IIRC.

I will keep the AMEX as reserve where it can be accepted with no surcharge.

The MC is destined for the bin.

 

[Deewhy]

Feb 2013 update

Wealth Package only includes the free Platinum card (1.5 on AMEX, 0.5 on MC) which will carry over the balance & points from the Gold MC.

They pointedly refused to offer the Diamond card for free.

I thought it was an equivalent 1.5 on Amex and 0.625 on MC?

I know of others that got the Diamond for free. Maybe just need to give them a bit of a "push"? The only catch was minimum $18K limit on the Dia.

 

[legroom]

I thought it was an equivalent 1.5 on Amex and 0.625 on MC?

I know of others that got the Diamond for free. Maybe just need to give them a bit of a "push"? The only catch was minimum $18K limit on the Dia.

It is 0.5 on MC, sorry.

"...You can earn 3 Awards points for every $1 spent on the Commonwealth Bank Platinum Awards American Express[SUP]®[/SUP] Card. And 1 Awards point for every $1 spent on the Commonwealth Bank Platinum Awards

.... Redeem 2 Awards points for 1 Qantas Frequent Flyer point or 1 Velocity Point..."

The major incremental benefit of the Diamond card, to me anyway, is the annual cap (1M vs 250K for Plat).

AMEX / MC earn rate is the same (1.5 & 0.5 respectively).

I could only relate to my experience - as of 3 weeks ago.

Others may have the free Diamond sometime ago ?

 

[SQ421]

The major incremental benefit of the Diamond card, to me anyway, is the annual cap (1M vs 250K for Plat).

The cap on Plat is 200k points if you sign up to QFF direct transfer option, after 120k of which, the MC stops earning and Amex earns 1 CBA point per $

Applied for the card yesterday, shows "conditionally approved" with the note saying I'll be contacted within 2 business days via Netbank Inbox.. I've already uploaded my payslips and notice of assessment so here's hoping it goes through and I can stick to one bank for all my transactional needs!

 

[legroom]

The cap on Plat is 200k points if you sign up to QFF direct transfer option, after 120k of which, the MC stops earning and Amex earns 1 CBA point per $

Applied for the card yesterday, shows "conditionally approved" with the note saying I'll be contacted within 2 business days via Netbank Inbox.. I've already uploaded my payslips and notice of assessment so here's hoping it goes through and I can stick to one bank for all my transactional needs!

Then my annual AMEX spending limit would be 120K.

Thanks for the info which I now see on page 10 of the Ts & Cs.

The web site did not make that clear to me.

 

[pshepvic]

Diamond was never free on wealth package. However CBA (possibly accidentally) sent an offer to a large number of Plat card holders an offer to upgrade to Diamond for "no extra cost, for life". I took it up and have had the Diamond free since on the wealth package. Note that at the time not even Plat was free - it only had gold free on wealth package - they had removed it a couple of years earlier.

 

[straitman]

I thought it was an equivalent 1.5 on Amex and 0.625 on MC?

I know of others that got the Diamond for free. Maybe just need to give them a bit of a "push"? The only catch was minimum $18K limit on the Dia.

It is 0.5 on MC, sorry.

"...You can earn 3 Awards points for every $1 spent on the Commonwealth Bank Platinum Awards American Express[SUP]®[/SUP] Card. And 1 Awards point for every $1 spent on the Commonwealth Bank Platinum Awards

I have free Diamond and the points with it are 3 and 1.25 per $ which equates to 1.5 and .625 Q points per $.

 

[legroom]

I have free Diamond and the points with it are 3 and 1.25 per $ which equates to 1.5 and .625 Q points per $.

Better than Plat but IMHO not worth the $395 annual fee

Unless free, no one should take this up when EDR CC offers 1:1 for $89 p.a.

Their business model is terrible.

I only knew about the free Plat when I called up to cancel the Gold.

They never advised me of Plat !

 

[bulldog88]

Depending on how "wealthy" you are , CBA private bank might be worth a chat to if you want free Diamond