New CommBank "Smart Awards" card

[Mattg]

Looks like CommBank has removed its Platinum Awards and Diamond Awards cards from sale, and replaced them with a new "Smart Awards" card.

It has a $19 monthly fee (works out to be a maximum of $228 per year), waived if you spend at least $2,000 in the month.

Earns 1.5 CommBank Awards points or 0.6 Qantas points per $1 spent up to $5,000/month, thereafter the rate reduces to 0.5 Awards or 0.2 Qantas points per $1. You also get 1.5x points at major supermarkets, department stores, petrol stations, dining and utilities; and double points on your largest purchase each statement period (up to a maximum of 1,000 Awards points or 400 Qantas points).

Interestingly, there are no international transaction fees.

There's a sign-up bonus on the card of 80,000 CommBank Awards points or 50,000 Qantas points (if you opt-in to Qantas direct earn for an extra $60 per year). Offer ends 30 September 2023.

Smart Awards credit card - Bonus Awards - CommBank

Earn points and bonus points across a range of day-to-day purchases with the Smart Awards credit card. No monthly fee if you meet the minimum spend criteria.

www.commbank.com.au

 

[Myrna]

Another new card. Maybe I should eheck to see if I should switch from ultimate card to this one - lower annual fee and lower monthly spending for fee free?

 

[RooFlyer]

Hmmmm .. that sounds like an improvement. I'm retired, but still have a CBA Personal Banker - might see if they can help me apply .

Interestingly, CBA is a Qatar Airways transfer partner, currently with a 30% bonus.

Qatar Airways Privilege Club 30% Bank Transfer Bonus

At the moment you can receive a 30% bonus when you transfer bank rewards to Qatar Airways Privilege Club Avios. This is a great deal.

onemileatatime.com

 

[Myrna]

It seems that this new Smart Awards card (LHS), one cannot transfer points to airlines (other than opt in for QF) - the ultimate card (RHS) points can be transferred to 10 different airlines (but the conversion is very poor!)

 

[stopthecap]

Another new card. Maybe I should eheck to see if I should switch from ultimate card to this one - lower annual fee and lower monthly spending for fee free?

seems like switch makes you ineligible

^Offer available on new Smart Awards credit cards applied for between 3 Jun 2023 and 30 Sep 2023. Offer not available on all other card types, existing cards, and switches from other card types and is not available to customers who currently hold, or have held, any activated Awards card types in the 12 months prior as a primary cardholder. You will be ineligible for the bonus Qantas Points or CommBank Awards points if your credit card account is closed, transferred, or in default at any time prior to the points being credited to your account.

 

[RooFlyer]

Their Smart Awards link goes to their Award Site

Awards Program - CommBank

CommBank Awards Program - earn points when you use your CommBank Awards credit card.

www.commbank.com.au

... which still has the 10 airline partners (but not the transfer rate)

 

[SeaWolf]

... which still has the 10 airline partners (but not the transfer rate)

This chart might help, was last updated in Feb.

Overview of CommBank Awards Transfer Partners - Australian Frequent Flyer

As of October 2024, you can transfer Commonwealth Bank Awards points to around 15 frequent flyer and loyalty programs. Please note that this list is

www.australianfrequentflyer.com.au

Note that Commbank has different transfer rates for Velocity depending on the card you have. I'm guessing the Smart Awards card will be the higher 0.5 Velocity points per Commbank point transfer rate but we'll have to wait till someone gets the card and checks.

For Commbank this isn't a terrible card, given you'd be getting 0.75 Velocity points per dollar spent, there's no international fees, it has good travel insurance and if you spend enough there could be no annual fee. It also has (paid) lounge access through DragonPass, a company I hadn't heard of before but seems to the Chinese competitor to Priority Pass.

 

[PERLHR]

I just don't see this as a deal. In fact all Australian bank cards are stingy. Many don't even award a simple 1-1 in dollar spent and points and all seem to have capping levels and can cost a lot or have spend minimums or even maximums before reverting to even worse rates.

 

[Lynda2475]

Commbank always seem to have the lowest QFF earn rate, one reason ive never bothered to include in churn rotation.

 

[kookaburra75]

There certainly doesn't seem enough to get me interested. I currently have an Ultimate Rewards card,which was worthwhile for the sign up bonus and savings on international charges. After adding up savings on Kobo, NY Times, and other online purchases it covers the monthly fee. But once we get back from our next international trip in mid August, I'll drop it and look for the next card to churn.

 

[StayGoldPonyboy]

This came in the post listing changes to the following cards:
Smart awards
Awards
Ultimate awards
Platinum awards
Diamond awards

Doesn't mention anything about transfer partners

Page 2 below

 

[rikkitikkitavi]

Looks like CommBank has removed its Platinum Awards and Diamond Awards cards from sale, and replaced them with a new "Smart Awards" card.

It has a $19 monthly fee (works out to be a maximum of $228 per year), waived if you spend at least $2,000 in the month.

Earns 1.5 CommBank Awards points or 0.6 Qantas points per $1 spent up to $5,000/month, thereafter the rate reduces to 0.5 Awards or 0.2 Qantas points per $1. You also get 1.5x points at major supermarkets, department stores, petrol stations, dining and utilities; and double points on your largest purchase each statement period (up to a maximum of 1,000 Awards points or 400 Qantas points).

Interestingly, there are no international transaction fees.

There's a sign-up bonus on the card of 80,000 CommBank Awards points or 50,000 Qantas points (if you opt-in to Qantas direct earn for an extra $60 per year). Offer ends 30 September 2023.

Smart Awards credit card - Bonus Awards - CommBank

Earn points and bonus points across a range of day-to-day purchases with the Smart Awards credit card. No monthly fee if you meet the minimum spend criteria.

www.commbank.com.au

Not surprising they’ve removed platinum and diamond, they are rubbish, would only use if came with a mortgage package etc. New card with international fees waived is good, hopefully might inspire AMEX to do that on their premium cards.

 

[exceladdict]

Notably low minimum credit limit (3k) too.

 

[RooFlyer]

Depending on the FX rate they apply with their "no international transaction fees", this might be one for me, potentially replacing my 28 degrees card for overseas CC use. Better to get the miserly points conversion to airlines than nothing at all.

But still waiting for my Personal Banker to reply to my request for a leg-up with the application (as I'm retired).

 

[SpudOz]

I spend $2.5k on the top of the wozza ultimate card now. I won’t be spending $4k to keep the card though.?

 

[Mattg]

Doesn't mention anything about transfer partners

Annoyingly, CommBank Awards doesn't give notice at all of changes to transfer partners. They'll just add/remove them or change the transfer rate at any time, without warning. Most of the frequent flyer program partnerships are run by a third party.

 

[RisingPhoenix]

It's an interesting one. Especially given I think they're now advertising higher local rate earn for the low level card (Thought Ultimate only got 1.5/$ on international spend not everyday spend.

That said, the Dragon card I've held for way too long doesn't offer any real benefits, no lounge access etc anymore either and still has an annual fee.

 

[cbreeze]

Has anyone successfully managed to swap from the Ultimate card to the new Smart Awards card after this change?
I wonder if I can “downgrade” or have to do a new application entirely.

 

[Feebs]

I was the primary card holder of an Ultimate card for several years, with an additional card for my wife. Earlier this year my wife applied for one to get the sign up points which I think was worth about $400-500. She got the sign up points as she hadn’t had a card as the primary holder and I got an additional card. I was able to cancel my card and transfer my points to her new card.

 

[GSP]

As I mentioned in another thread, I initially got the Ultimate card a while back to churn, but decided to keep it for the reasons discussed above (no international fees and reasonable earn rate on O/S transactions) and had little issue hitting $2.5k per month. $4k may be pushing it and aren't that pleased about it as it hasn't given anything extra other than a lounge pass.

One issue I had when I first got the card, as I expected to only have it for a few months, I opted for the $6k limit, but having to spend $2.5k (which often come out around $3k or sometimes more), if paying the balance on the due date, I found I was maxing out the card limit (i.e $3k for the last month and $3k in the current month) and had to pay the balance (or part of it) early. So I increased it to $10k. Now with $4k monthly spend, I see a possibility for the same think happening.

If the minimum limit is still $6k, then it will be very difficult to pay your balance on the due date and avoiding the monthly fee (i.e spending $4kpm). The only way would be to delay spending to the end of the cycle after the previous bill has been paid.