CBA Diamond...

[MadFairlane]

So tossing up whether to go to Diamond or not.

Currently CBA plat, and they have advised me that I can get Diamond with no annual fee.
One catch, I have to shift my limit to the 18k...

Anyone had any success with going to Diamond with a lower limit... and is it really worth it?

I spend a bit on my cards, but prefer to keep my limit at 10k for my own peace of mind, even if it means I transfer money in halfway through the month.

 

[Joshua]

So tossing up whether to go to Diamond or not.

Currently CBA plat, and they have advised me that I can get Diamond with no annual fee.
One catch, I have to shift my limit to the 18k...

Anyone had any success with going to Diamond with a lower limit... and is it really worth it?

I spend a bit on my cards, but prefer to keep my limit at 10k for my own peace of mind, even if it means I transfer money in halfway through the month.

I have mine with a limit around 10k but mine was auto migrated. It might be possible to lower it after you're on it. Is it worth it? Clearly limited differences but if the cost is no greater then why not. 90% of my spend is on AMEX so 1:1 points on the MC means very little to me. I find their customer service relatively great and find the CBA pretty progressive with technology adoption compared with their competitors. Looking forward to their NFC iPhone implementation shortly.

The only one benefit I really see in Diamond over Plat is the SPG Gold membership from the World Mastercard. The lack of Starwood properties in Australia means I have little chance to keep up status with SPG now so this should cover me. Has anyone got this processed yet? It is still a WIP for me.

 

[SOPOOR]

I am quite sure you can downgrade your limit,

can I ask how you manage to get fee free (without the wealth package)

I have a limit of $165k, no wealth package, and have tried and tried and tried to get fee free,

the best I did was 1 or 2 years free due to some massive admin issues that required me to be on the phone with them for hours.....

not really keen on paying the $250pa fee.......since my income is <$20k

 

[ab7]

I have a limit of $165k, no wealth package, and have tried and tried and tried to get fee free,

the best I did was 1 or 2 years free due to some massive admin issues that required me to be on the phone with them for hours.....

not really keen on paying the $250pa fee.......since my income is <$20k

I can't help myself not to comment... with income less than $20k you can get credit limit of $165k!? :shock:

Anyhow, I don't get the fee-free, I wish they offer that to me.

A friend of mine got his standard free, then free upgraded to Gold, then free upgraded to Plat, and now, free upgraded to Diamond. All free. I guess it really depends on luck, when and who you spoke to.

 

[SOPOOR]

I can't help myself not to comment... with income less than $20k you can get credit limit of $165k!? :shock:

Anyhow, I don't get the fee-free, I wish they offer that to me.

A friend of mine got his standard free, then free upgraded to Gold, then free upgraded to Plat, and now, free upgraded to Diamond. All free. I guess it really depends on luck, when and who you spoke to.

I know how you feel,

a family members has the citibank fee free promo from a few years ago, went standard, gold, plat and now signature, all fee free for life, im very jealous

as for my high limit, you'd be surprised how much they will give you limit increases!!

it all started off on a $2k student card,

I dont know what the criteria for increased limits are but I have paid it off every month, at peak I was spending about $6k per month, these days its only 1-2k,

also, my high limit comes from merging 2 card limits together as well,

I havent been offered a limit increase for a while now, hopefully im due for one

 

[Vinny]

So tossing up whether to go to Diamond or not.

Currently CBA plat, and they have advised me that I can get Diamond with no annual fee.
One catch, I have to shift my limit to the 18k...

Anyone had any success with going to Diamond with a lower limit... and is it really worth it?

I spend a bit on my cards, but prefer to keep my limit at 10k for my own peace of mind, even if it means I transfer money in halfway through the month.

I've been a CBA Diamond card holder for some time now. Limit $60 000. This does not mean I will spend that much. You only spend as much as you can afford to pay three weeks after your next bill arrives. I also pay no annual fee and will return the card if they suggest I start paying. It was offered without fees and that's the condition I took it. I do have a Wealth Package with CBA which really saves me a great deal each year and is a tax deduction.

Using Amex when accepted is a good little points earner, however the MasterCard side is not as attractive.

If you wish to use it to get a few more QFF points go for it. You can also redeem points for goods but they do seem expensive for the points asked. http://www.commbank.com.au/personal/apply-online/download-printed-forms/ADV12913_attach3.pdf

I've jumped ship, or make that plane, and have asked the CBA to cease automatically sending my points to QF from my cards.

 

[MadFairlane]

I've been a CBA Diamond card holder for some time now. Limit $60 000. This does not mean I will spend that much. You only spend as much as you can afford to pay three weeks after your next bill arrives. I also pay no annual fee and will return the card if they suggest I start paying. It was offered without fees and that's the condition I took it. I do have a Wealth Package with CBA which really saves me a great deal each year and is a tax deduction.

Using Amex when accepted is a good little points earner, however the MasterCard side is not as attractive.

If you wish to use it to get a few more QFF points go for it. You can also redeem points for goods but they do seem expensive for the points asked. http://www.commbank.com.au/personal/apply-online/download-printed-forms/ADV12913_attach3.pdf

I've jumped ship, or make that plane, and have asked the CBA to cease automatically sending my points to QF from my cards.

I don't have QFF, or really ever fly with them because of work policy.

I thank everyone for their opinion, I think I will just stick with my CBA plat for now...

Might re-evaluate it around tax time next year.

 

[SOPOOR]

oh, and the mastercard rate for QFF is atrocious,

they've 'improved' it from 0.5 to 0.625, which is simply insulting

hence, I now use a citibank visa which has 1:1, and CBA diamond amex,

id vote with my feet if I could and dump my CBA relationship of 15 years to prove a point

 

[Stephen65]

Yes I find that particularly annoying too. If a supermarket can offer 1:1 on its run of the mill platinum card why is Australia's largest bank only able to offer 1:0.625 on its supposed premium super-platinum card? As a result I never use the CBA Diamond MC if I can help it, I use my Citibusiness Gold Visa instead.

At least the spending cap was raised from the ludicrous $40,000 to $333,000.

In all other respects I am happy with my CBA relationship but when it comes to credit cards I really wonder which planet they are on.

 

[yo yo ma]

oh, and the mastercard rate for QFF is atrocious,

they've 'improved' it from 0.5 to 0.625, which is simply insulting

hence, I now use a citibank visa which has 1:1, and CBA diamond amex,

My M/C is in the cupboard draw and I just use the Amex. I use the HSBC Qantas Visa to get 1:1 at the moment.

 

[elbarto]

The only one benefit I really see in Diamond over Plat is the SPG Gold membership from the World Mastercard. The lack of Starwood properties in Australia means I have little chance to keep up status with SPG now so this should cover me. Has anyone got this processed yet? It is still a WIP for me.

First I've head of this benefit, how do you go about getting it?

 

[bry4ntt]

First I've head of this benefit, how do you go about getting it?

Go to www.spg.com/WorldMasterCardGoldUpgrade.

 

[fantasy86dj]

Go to www.spg.com/WorldMasterCardGoldUpgrade.

Thanks for the link

 

[Moopere]

Whats a "World MasterCard"? Is this a special type of mastercard or any m/c?

 

[fantasy86dj]

I don't know the exact definition of what a World Class Mastercard is but maybe have a look at credit card forum websites, hopefully someone sees this reply that I am leaving and will answer this question for the both of us!

 

[leemin]

Whats a "World MasterCard"? Is this a special type of mastercard or any m/c?

Yeah, it's a "special" type that sits in the line-up between 'Platinum' and 'World Elite' cards.


Sent from my iPhone using Aust Freq Fly app

 

[ab7]

Finally, I got a free upgrade to Diamond cards.

After some chat with the bank, I received the offer. It's a free upgrade, not free offer, still better than no offer at all. I am paying $250 for the Diamond.

The thing about Platinum is not really about 1 pt / $1 on MC (Platinum) versus 1.25 pt /$1 on MC (Diamond). It was more of the points caps. Platinum has first tier cap at 150,000 points. After that, you only earn 1 pt / $1 on Amex (Plat) and zero pt / $1 on MC (Plat). I reached the 150,000 first tier cap in July or August last year.

 

[BVT]

The bank offered me the Diamond Amex and Mastercards some time ago and waived the annual charge.

It might be worth asking if they will do the same for you.

Same here. Did the minimum spend for the bonus points etc.

Now busily getting the $7500 on the Virgin Card. It is scary how quickly the total accumulates when using just one card!

 

[Daggs01]

The CBA Diamond/Platinum and overall CBA Rewards is only decent when you use the AMEX that comes with it. As it was said the 1.5 QF/DJ points per $1 on Dia/Plat Amex and 0.5 on the Dia/Plat Mastercard.

If you are hitting the point cap you may want to look into a Plat Amex, the points cap is a lot higher, and if you have significant spend you may get an invite to centurion after a while.

Also, CBA dont look at spend volumes to determine what Rewards card you will get, they base it upon Credit Limit. If you have a limit less than $18k they wont look at you for Diamond. However, despite consistent turnover of $5k per month (spend & payback in full) that wont get you anywhere or any more status than a platinum if you dont meet their limit requirement.

With Rewards programs on Credit cards the huge catch is what's called the burn rate, which how far points get you when you cash them in.

Sure Citibank may earn you the same points per $1 as an amex, but how far will they get you when you spend em?

 

[straitman]

The CBA Diamond/Platinum and overall CBA Rewards is only decent when you use the AMEX that comes with it. As it was said the 1.5 QF/DJ points per $1 on Dia/Plat Amex and 0.5 on the Dia/Plat Mastercard.

If you are hitting the point cap you may want to look into a Plat Amex, the points cap is a lot higher, and if you have significant spend you may get an invite to centurion after a while.

Also, CBA dont look at spend volumes to determine what Rewards card you will get, they base it upon Credit Limit. If you have a limit less than $18k they wont look at you for Diamond. However, despite consistent turnover of $5k per month (spend & payback in full) that wont get you anywhere or any more status than a platinum if you dont meet their limit requirement.

With Rewards programs on Credit cards the huge catch is what's called the burn rate, which how far points get you when you cash them in.

Sure Citibank may earn you the same points per $1 as an amex, but how far will they get you when you spend em?

Unless you get the CBA Diamond for free as part of a package you might as well go straight for the Platinum Amex Charge card as it is much better value.

The Diamond card has a points cap of 1,000,000 pa but what is it for the Amex Plat :?: