Commonwealth Diamond

[Walter_Plinge]

I'm thinking about this card. I currently have CBA Visa Gold ($115 per year) and have been offered the card for no extra cost. My other card is an ANZ platinum QFF, which is capped for points at a ridiculously low level. I don't have an AMEX card at present and was considering applying for their platinum charge + credit card ($900 pa, but tax deductible). Putting BAS on the Amex + all my other spending will probably yield ~ 300,000 points per year.

Would I be better off with CBA Diamond + its linked AMEX card, or should I just go for the AMEX platinum product? I will have Gold QFF status soon.

$900 a year is ridiculous. My CBA Amex/Mastercard package is $250 a year (was Platinum but free upgrade to Diamond). I also have an Amex Platinum card (loyalty scheme) $295 a year including a free flight on Virgin.

I had a look at ANZ cards 3 or so years ago and decided they were rubbish. They may have improved.

 

[pshepvic]

$900 a year is ridiculous.

A matter of opinion really. I have this card and get my money's worth.

Companion fares saved me over $10k last year, travel insurance exceeds what I would get if I bought a $2000 annual policy, and far exceeds any other credit card insurance, plus it has paid out on two occasions in the last two years. The insurance also saves me at least 30 car rental days a year of excess reduction at $20-30 a day so there is $600 a year alone!

 

[straitman]

$900 a year is ridiculous. My CBA Amex/Mastercard package is $250 a year (was Platinum but free upgrade to Diamond). I also have an Amex Platinum card (loyalty scheme) $295 a year including a free flight on Virgin.

Walter_Plinge,

I have to disagree also.

As stated by pshepvic this is quite subjective. I get a lot more for my $900 with Amex than I ever do from my CBA Platinum package.

The $295 you mention for the Amex Platinum Credit Card (included) eats up 1/3rd of the difference without doing anything else.

 

[scaredeycat]

Thanks for the above opinions. I suspect that I will be better off with the more expensive AMEX package - will have to go through the fine print.
Is the platinum travel service really worth it - I have read differing accounts regarding savings from companion fares etc. I anticipate sticking to OW if possible and QFF SCs. I expect all of my long haul journeys will be spent in J.

 

[pshepvic]

Walter_Plinge,

I have to disagree also.

As stated by pshepvic this is quite subjective. I get a lot more for my $900 with Amex than I ever do from my CBA Platinum package.

The $295 you mention for the Amex Platinum Credit Card (included) eats up 1/3rd of the difference without doing anything else.

Oops totally forgot about the credit card that comes with it! And the annual free flight which I can get anywhere from $150-400 worth of value from it!

 

[pshepvic]

Thanks for the above opinions. I suspect that I will be better off with the more expensive AMEX package - will have to go through the fine print.
Is the platinum travel service really worth it - I have read differing accounts regarding savings from companion fares etc. I anticipate sticking to OW if possible and QFF SCs. I expect all of my long haul journeys will be spent in J.

Last year I paid $11k for return airfares in J with JAL for two, at peak Christmas season. The same fares were $23k on JAL.com and not much less through my normal travel agent.

QF at the same time of booking was $24k. I prefer skybeds on an A380 to the JAL seat, but I also prefer spending $13k less!

It would of been even cheaper on Delta - we were offered companion fares with them that were $9k for two people. But decided we wanted to go back to Japan again anyway.

Have also done recent quotes for companion fares as well - example is flights to Singapore in October were $3800pp via Amex, or I think about $6-7k on the SQ website.

 

[New Chump]

Walter_Plinge,

I have to disagree also.

As stated by pshepvic this is quite subjective. I get a lot more for my $900 with Amex than I ever do from my CBA Platinum package.

The $295 you mention for the Amex Platinum Credit Card (included) eats up 1/3rd of the difference without doing anything else.

Straitman nailed it: it all depends. If you are going to be getting $900+ value from the extra benefits (mostly travel) that the AMEX Plat Charge Card offers (benefits that the CBA Diamond does not offer), then the AMEX Plat Charge Card is for you.

If you are just looking for an AMEX offering 1.5 QF points per $1 spent - particularly with your BAS payments - and the CBA Diamond $1m points cap won't kill you, then CBA Diamond is for you. If you are on the CBA wealth package, pressure your relationship manager to get the Diamond card fee free. They will do it for the right customers.

I have the Diamond and the AMEX Plat Charge and am very happy with both.

Here's a suggestion (based on what I do). Get both. Use the CBA Diamond card just to pay your BAS payments, and Great Rate each payment, so you are paying 0.99% in interest on your Diamond card. Pay off the Great Rate-d BAS transaction in full after 3 months before it reverts to your usual (usury?) interest rate. Repeat each quarter with each BAS payment. Leave your money in your home mortgage, and pay 0.99% on your card for your tax payments. :mrgreen:

Then use your AMEX Plat Charge for all your other spending. All good.

NC

ps: Ditch the ANZ card. Poor value IMHO.

 

[pksw]

Received two cards in the mail - I hadn't applied, but it looks like they are targetting me to upgrade to the Diamond Mastercard by sending the cards first, and making it easy to switch over. I'm grandfathered on a lifetime free Gold Visa card that I had from 1998 through a professional membership organisation that subsequently ceased their relationship with the CBA. The FAQ link provided states that I'll maintain a fee free card - so it looks like there is no downside to upgrading.