Credit Card Offers CommBank Ultimate Awards Card: 100K award points – potentially fee free

[sydunipete]

I've had one of these for a few years and thought it was ok until I got a Platinum Amex and decided to deep dive into the CBA card to compare.

CBA Ultimate earns 3 points per dollar on overseas spend only. And no fees for overseas transactions. That's the good news - and overseas travel insurance that doesn't require an overseas trip or a purchase on the card.

It earns 2 points per dollar on domestic spend on majors (Coles, Woolies, petrol).

It earns a measly 1 point per dollar on everything else.

2 points = 1 Virgin point on both CBA and Amex. (Pretty standard.)

But if your airline of choice in Singapore Air a dollar spent on Amex will earn you 1.125 SQ points. But a dollar spent on CBA Ultimate at NOT a major store earns a measly 1/3 of a SQ point.

So I use my Amex where ever I can domestically and keep my CBA Ultimate for overseas spending. It's probably not even worth the loss in points to meet the fee free threshold with CBA.

 

[Myrna]

I've had one of these for a few years and thought it was ok until I got a Platinum Amex and decided to deep dive into the CBA card to compare.

CBA Ultimate earns 3 points per dollar on overseas spend only. And no fees for overseas transactions. That's the good news - and overseas travel insurance that doesn't require an overseas trip or a purchase on the card.

It earns 2 points per dollar on domestic spend on majors (Coles, Woolies, petrol).

It earns a measly 1 point per dollar on everything else.

2 points = 1 Virgin point on both CBA and Amex. (Pretty standard.)

But if your airline of choice in Singapore Air a dollar spent on Amex will earn you 1.125 SQ points. But a dollar spent on CBA Ultimate at NOT a major store earns a measly 1/3 of a SQ point.

So I use my Amex where ever I can domestically and keep my CBA Ultimate for overseas spending. It's probably not even worth the loss in points to meet the fee free threshold with CBA.

Agree the conversion to SQ points is very poor on cba ultimate. So, not sure if we will ever do that. For now we just accumulate the points on ultimate. Hubby closed down his cba diamond card and was going to convert his points to SQ, but they said he could transfer them to my ultimate card. So he did that. We don't have amex plat, they rejected my application due to lack of regular income like salary!

 

[ChrisFlyer]

On Amex Plat vs CBA Ultimate overseas, my thoughts are this.

CBA earns the equivalent of 1 SQ mile per $1 spent (3/$1 earn, 3:1 convert). AMEX Plat earns the equivalent of 1.125 SQ miles (2.25/$1 earn, 2:1 convert), but with a 3% foreign transaction fee on top.

That's an extra 3 cents for every AUD $1 spent - or to look at it another way, an extra 3 cents for every additional 0.125 SQ miles earned over and above what CBA Ultimate would give. That's 24c extra in fees for every additional 1 KrisFlyer mile earned via AMEX, versus CBA Ultimate. As much as I like SQ miles, that's a crazy amount to pay.

Instead, I'm saving up my CBA points for either Velocity or Flying Blue. Velocity is 2:1, so that's already 1.5 VA points per $1 spent abroad. Transfer during a 15% bonus like there is currently, and that's 1.725 VA points per $1 earned abroad in total. That's also 1.1129 SQ miles per $1 on that basis (convert to Velocity with a 15% bonus, and then from Velocity to KrisFlyer at the 1.55:1 rate) - which is almost the same as the earn on Amex Plat Charge, but without the 3% fee.

Or, to Flying Blue, it's 2.5:1, which is 1.2 Flying Blue miles per $1 spent - and there are sometimes bonuses there too. Good for SkyTeam especially from Australia as fewer people have access to SkyTeam awards (might change a bit now that Virgin Atlantic Flying Club points can be redeemed largely across SkyTeam), but yeah, lots of alternatives to the 3:1 direct transfer from CBA to KrisFlyer!

 

[Scr77]

On Amex Plat vs CBA Ultimate overseas, my thoughts are this.

CBA earns the equivalent of 1 SQ mile per $1 spent (3/$1 earn, 3:1 convert). AMEX Plat earns the equivalent of 1.125 SQ miles (2.25/$1 earn, 2:1 convert), but with a 3% foreign transaction fee on top.

That's an extra 3 cents for every AUD $1 spent - or to look at it another way, an extra 3 cents for every additional 0.125 SQ miles earned over and above what CBA Ultimate would give. That's 24c extra in fees for every additional 1 KrisFlyer mile earned via AMEX, versus CBA Ultimate. As much as I like SQ miles, that's a crazy amount to pay.

Instead, I'm saving up my CBA points for either Velocity or Flying Blue. Velocity is 2:1, so that's already 1.5 VA points per $1 spent abroad. Transfer during a 15% bonus like there is currently, and that's 1.725 VA points per $1 earned abroad in total. That's also 1.1129 SQ miles per $1 on that basis (convert to Velocity with a 15% bonus, and then from Velocity to KrisFlyer at the 1.55:1 rate) - which is almost the same as the earn on Amex Plat Charge, but without the 3% fee.

Or, to Flying Blue, it's 2.5:1, which is 1.2 Flying Blue miles per $1 spent - and there are sometimes bonuses there too. Good for SkyTeam especially from Australia as fewer people have access to SkyTeam awards (might change a bit now that Virgin Atlantic Flying Club points can be redeemed largely across SkyTeam), but yeah, lots of alternatives to the 3:1 direct transfer from CBA to KrisFlyer!

I agree. This card is great for overseas spend and potentially annual fee free. However, it’s disappointing for local spend. The 10k per month cap is a downer too.

 

[theblank]

I agree. This card is great for overseas spend and potentially annual fee free. However, it’s disappointing for local spend. The 10k per month cap is a downer too.

Can you find a better Visa or MC? any card that has an annual fee significantly reduces the points earn value.

 

[snabbu]

I am presently overseas . Let me know quickest way to chase .

After chasing this up by phone I was told the bonus points are awarded 90 days after the $5,000 spend requirement was reached. So say you met the spend requirement on day 89 after activation, you could potentially have to wait another 90 days for the bonus points to arrive.
I was suprised at this relevation (to be fair I didn't read the full T&C's for the promo) and the operator said it was in the terms and conditions.

 

[Dr Ralph]

After chasing this up by phone I was told the bonus points are awarded 90 days after the $5,000 spend requirement was reached. So say you met the spend requirement on day 89 after activation, you could potentially have to wait another 90 days for the bonus points to arrive.
I was suprised at this relevation (to be fair I didn't read the full T&C's for the promo) and the operator said it was in the terms and conditions.

Standard clause for many banks, although the points may be awarded earlier.

I'm waiting for the 90 day period to expire for me on an ANZ card. I'll be straight onto them if they aren't awarded on time.

Post automatically merged: Mar 10, 2023

 

[Ktan89]

I just got my points. It was around 80days after approval.

 

[Mr H]

I just got my points. It was around 80days after approval.

How soon after you met the minimum spend? Next statement?

 

[Easy Tiger]

ow soon after you met the minimum spend? Next statement?

@Mr H my points were credited one month/cycle after hitting spend. So...<60days after approval and receiving the card.

 

[Ktan89]

How soon after you met the minimum spend? Next statement?

Got my card around 21st December, just before o/s trip. Met the minimum spend by 1st week of January. All on overseas spending, probably had some delays so let's say 3rd week of January. Got my points when I posted - 10th March.
Same timing for my friends card too.

 

[kookaburra75]

@Mr H my points were credited one month/cycle after hitting spend. So...<60days after approval and receiving the card.

Same here. Card issued on 22 Feb. I hit the min spend by 28 Feb. First lot of points, including the bonus hit my Qantas account on 23 Mar.

 

[snabbu]

Another datapoint.
Activated late November, spend met early Jan. Called up to enquire where the points were on 10/3 and was told as above, I had to wait 90 days from the day the spend criteria was met. Asked if there was a way they could manually push the points through and told no I had to wait it out.

Points hit that afternoon.

 

[Myrna]

Card received 20 Feb, spent over $5K, received 100K points bonus 31 Mar. Plus when we closed hubby's diamond card, they asked if we would like his accumulated points - about 85K - transfer to my card. We said yes. Still thinking how to use the points effectively going forward. CBA ultimate 3:1 to SQ - whereas hubby's HSBC card 2:1.

 

[Myrna]

Apparently, a new promo for this card:

• 100,000 bonus CommBank Awards points or 70,000 Qantas Points when you apply for a new CommBank Ultimate Awards credit card by 30 September 2023 and spend $6,000 on eligible purchases using your new card within 90 days of activation.

• No monthly fee* if you spend at least $2,500 on your Ultimate Awards credit card in your statement period (From 25 August 2023, you’ll need to spend at least $4,000 in your statement period to qualify for no monthly fee for that month)
• Enjoy two complimentary airport lounge passes each calendar year with Mastercard Travel Pass provided by DragonPass to over 1,300 airport lounges worldwide and up to date travel information

Bonus points spending up from $5K to $6K
Fee free monthly spending up from $2.5K to $4K - many may not be happy with this.
Lounge passes may not be much use to most AFFers - due to status and regular front end cabin travel

 

[GSP]

Apparently, a new promo for this card:

• 100,000 bonus CommBank Awards points or 70,000 Qantas Points when you apply for a new CommBank Ultimate Awards credit card by 30 September 2023 and spend $6,000 on eligible purchases using your new card within 90 days of activation.
• No monthly fee* if you spend at least $2,500 on your Ultimate Awards credit card in your statement period (From 25 August 2023, you’ll need to spend at least $4,000 in your statement period to qualify for no monthly fee for that month)
• Enjoy two complimentary airport lounge passes each calendar year with Mastercard Travel Pass provided by DragonPass to over 1,300 airport lounges worldwide and up to date travel information

Bonus points spending up from $5K to $6K
Fee free monthly spending up from $2.5K to $4K - many may not be happy with this.
Lounge passes may not be much use to most AFFers - due to status and regular front end cabin travel

I've had this card for a while now and was my keeper card as the International Transaction savings were/are significant. There is flexibility with points redemption (although not great value), but the increase from 2.5k to 4k per month I would not be happy with if they expanded it to existing customers.

 

[Myrna]

I've had this card for a while now and was my keeper card as the International Transaction savings were/are significant. There is flexibility with points redemption (although not great value), but the increase from 2.5k to 4k per month I would not be happy with if they expanded it to existing customers.

Agree. I have found the zero international transaction fee saving was a key attraction for this card - as we recently returned from a trip. Like you, I will not be happy with the increase monthly spending. But, hubby said since the card is in my name I will have to 'cough' up the $35 monthly fee from time to time when we cannot put through $4K for that month, some months it will be well over (car insurance / house insurance / health insurance etc)

 

[tizey]

Like others, long term holder of this card as a mainstay for routine spend... Also good to have an international fee free option. At 2.5k/month to remain fee free, I could manage it without too much trouble and haven't paid a monthly fee ever, but at $4k will be giving serious consideration as to retaining it or not.

Due to covid and now a young family, not done too much research into it, but how does the travel insurance rate on this card?

 

[http_x92]

Might be a good time to combine the current ipaymy offer with the Ultimate Awards card to pay off ATO bills and get the bonus points with no fee, hitting the 4k spend. Problem is I still need to wait a month to be eligible for the bonus points again.

Edit: If you want something easier to spend each month, then they released the Smart credit card. Only $2000 each month to not pay the $19 monthly fee. Only 50k Qantas points though.

 

[Lost Redditor]

I really hope they don't apply this $4,000 monthly spend change to existing card holders. This is a nice card and the only CC I've kept for over 12 months. I bank with CBA as well. I will only just hit this minimum spend most months meaning I won't be able to churn other cards for points except for certain times each year (insurance, rego, etc). Maybe that's their plan now