CBA enhances™ points earn ahead of interchange reduction

[Rubix]

Same for me too.

Called up after receiving letter in the mail about points reduction.

Been rejected by Amex direct for the platinum Charge Card as my income is too low even though I own my own unit outright and have a combined income of $94k/year.

Have applied for Amex direct Velocity Platinum card and awaiting approval.

The hunt goes on.

 

[RooFlyer]

The ATO/ Credit card thread may a better place for that query lepetitprince.

 

[ChrisFlyer]

Been rejected by Amex direct for the platinum Charge Card as my income is too low even though I own my own unit outright and have a combined income of $94k/year.

Yeah, minimum for the Plat Charge is $100k, either your own income or your household income (you + partner). Until recently it had to be $100k personal income only, so wait until one of you gets a decent bonus or pay rise and apply again once your combined total is 6 figures.

 

[Rubix]

Yeah, minimum for the Plat Charge is $100k, either your own income or your household income (you + partner). Until recently it had to be $100k personal income only, so wait until one of you gets a decent bonus or pay rise and apply again once your combined total is 6 figures.

I thought the unit would get us over the line as we own it outright. No luck though.

Approved for the Amex Direct Velocity Platinum. So pretty stoked with the outcome.

CBA cards will get the chop come July.

 

[unfunkable]

Does the 0% international fee only apply to the AMEX component or the Mastercard as well?
From the website "From 1 July 2017, you’ll pay zero international transaction fees on overseas purchases made using your CommBank Diamond or Platinum American Express card "

I am guessing CommBank Diamond is either card? Will ditch my 28degree card if this is the case

edit: just rang to check anyway, as its so ambiguous. It is ONLY for the AMEX card.

 

[earlyriser]

Does the 0% international fee only apply to the AMEX component or the Mastercard as well?
From the website "From 1 July 2017, you’ll pay zero international transaction fees on overseas purchases made using your CommBank Diamond or Platinum American Express card "

I am guessing CommBank Diamond is either card? Will ditch my 28degree card if this is the case

edit: just rang to check anyway, as its so ambiguous. It is ONLY for the AMEX card.

I assume the points per $ for the AMEX international purchases is 0.5 ?

 

[SOPOOR]

i got my statement today and on the last page, I had pretty much what it says here

https://www.commbank.com.au/personal/apply-online/download-printed-forms/CommonwealthAwards.pdf

you will continue to earn 3 pts per $1 spent overases, uncluding purchases made online at overseas websites


no international transaction fee will apply on internationa ltransactions


sodoes that mean, since amex is pretty much accepted everywhere overseas without surcharges,
it therefore makes it a international fee free credit card?

plus it says you will earn 3 pts per $1, so if you have QFF direct , that means for every $1 you get 1.5 QFF points when overseas?

if so that is great

ps does any body know what the definition of an overseas website is ?
is it anything that doesnt end with .au?

or does it mean anything thats not charged in AUD?


ive always wanted a foregin currency fee free credit card, this makes the cba card bearable for me now

 

[ChrisFlyer]

plus it says you will earn 3 pts per $1, so if you have QFF direct , that means for every $1 you get 1.5 QFF points when overseas?

if so that is great

CBA used to apply a more generous QFF conversion rate for Platinum and Diamond cardholders (2:1 with QFF), but that was changed early last year to 2.5:1 - so 3 CBA points per $1 on Diamond = 1.2 QFF.

Conversions to Velocity instead are still more generous for Plat/Diamond at the 2:1 rate, so the same 3 CBA points = 1.5 Velocity points (or 1.725 Velocity points if you wait to convert your points during a 15% promo).

Given the added QFF opt-in fee and the lower conversion rate, I opted out of QFF Direct when those changes kicked in, but subsequently cancelled my card this year - 0.2 QFF or 0.25 VFF per $1 spent on AMEX (CBA Plat) is just rubbish: can earn 4-5x as many points on a free card from AMEX (Discovery & Escape), let alone even more on the AMEX QF Ultimate and Velocity Platinum!

 

[SOPOOR]

CBA used to apply a more generous QFF conversion rate for Platinum and Diamond cardholders (2:1 with QFF), but that was changed early last year to 2.5:1 - so 3 CBA points per $1 on Diamond = 1.2 QFF.

Conversions to Velocity instead are still more generous for Plat/Diamond at the 2:1 rate, so the same 3 CBA points = 1.5 Velocity points (or 1.725 Velocity points if you wait to convert your points during a 15% promo).

Given the added QFF opt-in fee and the lower conversion rate, I opted out of QFF Direct when those changes kicked in, but subsequently cancelled my card this year - 0.2 QFF or 0.25 VFF per $1 spent on AMEX (CBA Plat) is just rubbish: can earn 4-5x as many points on a free card from AMEX (Discovery & Escape), let alone even more on the AMEX QF Ultimate and Velocity Platinum!

I've been doing direct qantas since the start of time and didn't even know you could do velocity .
I think I will cancel qff and do velocity from now on

 

[amaroo]

We get DIA fee free - so I'll be keeping for insurance and OS spend ... otherwise it would be chop chop

 

[New Chump]

CBA Business was the only Amex card that offered reasonable points for paying Tax with their cards. I had a good run with the CBA business amex, paying my business taxes. Now that CBA is a gonner, do you guys have any other advice on which card to use to pay business tax?

When did CBA Business enhance their credit cards to remove points on ATO spend? (I may well have missed in in the monster ATO thread).

I thought it was the last of the CBA cards that still earned points on ATO spend (albeit with small annual caps).

My April ATO installment on my CBA Business credit card earned points.

Thanks

NC

 

[ChrisFlyer]

When did CBA Business enhance their credit cards to remove points on ATO spend? (I may well have missed in in the monster ATO thread).

I thought it was the last of the CBA cards that still earned points on ATO spend (albeit with small annual caps).

My April ATO installment on my CBA Business credit card earned points.

Thanks

NC

Suggest you read the whole thread - CBA is making savage cuts to its frequent flyer earn rates on all transactions, so although the card will still technically earn points at the ATO, the number will be ridiculously small (as with all transactions) and won't really be worth it.

 

[lepetitprince]

Thanks RooFlyer - I will go yonder!

 

[SOPOOR]

I have no idea but wouldn't this mean that everyone will be abandoning the non direct Amex

So that means membership for theh direct Amex will increase.

Also with the lowering of interchange fees of non direct Amex.

Does this mean a increased profit for Amex.

And hence I wonder if Amex will make it easier or harder or less or more rewarding to use them

 

[albyd]

The bank issued Amex cards were a way to get around the previous interchange cuts on MC/Visa which is why the RBA regulated them.
I'm not sure of the split between the banks and Amex but my impression is Amex only took a very small cut of the merchant fees from them.
Hopefully, it's increased the awareness of Amex cards for people who wouldn't have gone out of their way to get one previously and lead to more Amex direct members.
I still think the vast majority of people don't earn enough points to do anything with so will either keep blindly using their bank Amex cards or just use the Visa (ANZ customers).

 

[New Chump]

I still think the CBA Business Platinum is an ok card for ATO spend, on the mastercard (not on the amex). Not great, but ok.

Pros - one of the few left that awards points on ATO spend. 0.5 velocity or 0.4 QFF points per $1 spent.
Cons - (1) $300 annual fee. (2) 300k annual points limit.

RIP CBA Business Platinum amex.

NC

 

[SOPOOR]

Anyone tried the new Amex only no international fee transactions?


This is the only redeeming feature for me

 

[digpomi]

Re: CBA enhances™ points earn ahead of interchange reducti

Anyone tried the new Amex only no international fee transactions?


This is the only redeeming feature for me

Just used it today in Thailand, transaction still pending, my go to card now for overseas spend.

 

[digpomi]

Re: CBA enhances™ points earn ahead of interchange reducti

Just a follow up, first few transactions have posted, rate is pretty much the official rate and nil international transaction fee.

 

[DerekG]

No international transaction fee will apply on international transactions

Whilst no international transaction fee applies to the CBA issued Platinum/Diamond AMEX card from 1st July 2017, you need to carefully compare the AMEX exchange rate to those offered by Visa & Mastercard on the same day.

It may be that the exchange rate that is offered by AMEX is quite a bit worse than what is on offer from Visa & Mastercard.