Commonwealth Diamond

[pshepvic]

Well I phoned this morning and the CC Specialist would not upgrade me. I have a Platinum as part of my Wealth Package but she stated over the phone they cannot waive the annual fee. I would have to get my broker to try and see if he can arrange this. (Not going to involve him for a rather ordinary CC anyway)

Anyone else had luck?

I thought this might be the case - considering the Platinum card is not even available with the wealth package anymore.

 

[MAX_1]

For those on CBA's Wealth Package, I understand (unconfirmed) that CBA will be including the Diamond card as part of its offering, and existing Gold Cards (fee free on the package) can be migrated across to Diamond.


Otherwise I agree CBA could have done better with the benefits attaching to their "premium" card.


NC

I can confirm that the Diamond Card will not be offered free with the Wealth Package.

 

[iangoodwin]

I have just read the terms & conditions and the disturbing thing is I cannot find what the CONVERSION rate is (with my Platinum, 3 CBA Rewards points transfers as 1.5 QF points). If the conversion rate is unchanged the Diamond card/s is a very disappointing product.

 

[Diesellife]

no change for conversation rate... 2 CBA points = 1 QFF

 

[pshepvic]

I have just read the terms & conditions and the disturbing thing is I cannot find what the CONVERSION rate is (with my Platinum, 3 CBA Rewards points transfers as 1.5 QF points). If the conversion rate is unchanged the Diamond card/s is a very disappointing product.

Very disappointing indeed. I'm sticking with my Amex Platinum Charge card (even with a $900 fee it's better value than the CBA card) and the Woolworths Qantas MasterCard for all those non-Amex moments. I barely use the CBA Platinum cards they give me for free so there's no in incentive to pay $400 for a Diamond card with no additional benefit.

 

[MAX_1]

Very disappointing indeed. I'm sticking with my Amex Platinum Charge card (even with a $900 fee it's better value than the CBA card) and the Woolworths Qantas MasterCard for all those non-Amex moments. I barely use the CBA Platinum cards they give me for free so there's no in incentive to pay $400 for a Diamond card with no additional benefit.

Can you tell me how many Qantas FF Points this Amex card creates for every $1 spent on it?

 

[pshepvic]

Can you tell me how many Qantas FF Points this Amex card creates for every $1 spent on it?

Amex is 1.5 points per $1 (same as CBA Platinum Amex)
MasterCard is 0.625 points per $1 (CBA Platinum is 0.5)

In my calculations based on points earn alone vs $150+ more annual fee than platinum, you'd have to spend $120k a year on the Mastercard to even get the extra annual fee cost back in points.

Epic fail by CBA.

 

[MAX_1]

I was referring to the $900 Amex.

 

[straitman]

Can you tell me how many Qantas FF Points this Amex card creates for every $1 spent on it?

It is 1.5 points per $ spend. These can be kept in the MR account and transferred to many different places incl QF. They transfer to QF at 1MR point to 1QF point.

 

[pshepvic]

I was referring to the $900 Amex.

Ah sorry my mistake - yes 1.5 as straitman indicated. Bear in mind there are significant other benefits the Platinum Charge Amex includes - a free Platinum Credi card (with annual return flight), arguably the best credit card travel insurance policy, free SPG gold membership, free Priority Club gold membership, free Priority Pass airport lounge membership, free rental car excess insurance, plus a whole heap more (there is a thread on it somewhere around here).

***Disclaimer: when I say "free" I mean included in the annual fee!

 

[zhfs]

The freedom to redeem your points for almost anything, with great deals on travel, merchandise, gift cards and more

quote from the commonwealth website

does that mean i can redeem my points to singapore krisflyer account?

 

[Diesellife]

does that mean i can redeem my points to singapore krisflyer account?

It's "almost" anything... Deep down it refers to a combination of "point to cash" reward & concierge service.

I think that you will be able to redeem a flight on Singapore Airline but not their points at the rate about 0.x - 1 cent per point.

 

[fantasy86dj]

Since I saw this card last night online I have done some research. The credit card annual fee is a lot higher than the Platinum but if you spent like mad on the Platinum getting the upgrade could be worth you wild. The Mastercard is still under 1:1 and given how many places are still hesitant about taking an American Express CBA really needs to do something about the Mastercard ratio.

I have the Gold Awards and I am working on getting the Platinum, because I think that the point ratio for the Award cards with Standard or the Gold is a joke and a waste of time. It will be interesting to see what people think of the Diamond card in months to come since it has only just been released this week.

That is my little opinion about the card

David.

 

[Mal]

I really don't see the benefit of this card. If you are a heavy spender, then you are unlikely to be wasting your time with CBA (and instead have an Amex or even a Citibank card).

For those purchases that can't be put on Amex - surely the standard Plat CBA card would be sufficient for most people.

 

[Diesellife]

Since I saw this card last night online I have done some research. The credit card annual fee is a lot higher than the Platinum but if you spent like mad on the Platinum getting the upgrade could be worth you wild.

A combination of NAB Platinum & Woolworth will get you $1.5 points on Amex and 1 point on Mastercard (Both unlimited cap) and cost less than CBA Diamond's annual fee.

So CBA Diamond is totally unattractive and there are many better options available in the market.

 

[fantasy86dj]

A combination of NAB Platinum & Woolworth will get you $1.5 points on Amex and 1 point on Mastercard (Both unlimited cap) and cost less than CBA Diamond's annual fee.

So CBA Diamond is totally unattractive and there are many better options available in the market.

If you have all your banking with the CBA, spent big and don't want to change then it would be worth getting the card. But only if you spent big.

 

[cdp88]

If you have all your banking with the CBA, spent big and don't want to change then it would be worth getting the card. But only if you spent big.

The CBA cards are only worthwhile if you get them for free. The wealth package comes with gold but really should come with plat.

Now that there is a new level above plat I'm going to ask customer service to upgrade my gold to plat for free. If not I just switch everything to Woolworths EDR.

Interestingly on my gold card I was able to keep earning points beyond the cap. That cap is ridiculously low such that I hit in 6 months and I don't spend that much.

 

[pshepvic]

The CBA cards are only worthwhile if you get them for free. The wealth package comes with gold but really should come with plat.

Now that there is a new level above plat I'm going to ask customer service to upgrade my gold to plat for free. If not I just switch everything to Woolworths EDR.

Interestingly on my gold card I was able to keep earning points beyond the cap. That cap is ridiculously low such that I hit in 6 months and I don't spend that much.

The wealth package used to come with the platinum card free but it was removed a couple of years ago. Anyone that already had it though was able to keep it free.

 

[samillionaire]

Tsk tsk nab launched a new campain today which ive posted in the NAB card thread
Earn triple Qantas Frequent Flyer points until 1 September 2011. Apply by 6 June 2011.
for nab qantas gold
CBA has some catching up to do

 

[Jobu]

i already get a free amex earning 1.5 QF points per dollar and have a separate MC and Visa each earning 1 QF point per dollar (both free as well), so no interest. Add to the fact that CBA is the worst customer service out of any bank in Aus, a really low bar, and it's a no brainer.