Commonwealth Diamond

[Deleted member 18152]

A CS rep has told me about the imminent release of a new awards product called Diamond that will offer either unlimited points earning and/or higher earn rate.

Anyone got anything else????

 

[iqis60]

I too heard something when talking on the phone to a rep. I heard it was going to be a similar earn rate to platinum, but the points cap would be around a million a year and the annual fee would be close to $400, maybe $375.

 

[Diesellife]

lol... It is a joke if they don't provide better an earn rate.
Their existing visa/mc earn rate is pretty bad!

 

[UP4014]

From my own reading, any card that comes out form the Commonwealth would have to better than their present offerings, as from what I read they couldn't be any worse. haha

 

[Globetrotter]

A friend of mine received a questionnaire from Commbank last year (Oct from memory) regarding credit cards. She said the intro letter implied they were introducing a new card and the questions were focused around reward benefits etc.

So I guess it's finally coming and well overdue.

 

[trippin_the_rift]

Isn't it amazing how banks slowly push up the fees.....

10 years ago there were Visa cards with $1 = 2QF points with minimal to no annual fees.

 

[Diesellife]

A friend of mine received a questionnaire from Commbank last year (Oct from memory) regarding credit cards. She said the intro letter implied they were introducing a new card and the questions were focused around reward benefits etc.

So I guess it's finally coming and well overdue.

Given how CBA "restructured" their award system 2 years ago, I wouldn't be holding my breath for this diamond card.

Just a wild guess:
Perhaps 1.75 / $ for amex (Being very hopeful)
Same rate 0.5 / $ for mc

 

[PaulZ]

I've heard that the release date will be 28 March 2011.

Only details are that the annual fee will be higher than Platinum, but will provide higher caps and better earn rates.

 

[straitman]

I've heard that the release date will be 28 March 2011.

Only details are that the annual fee will be higher than Platinum, but will provide higher caps and better earn rates.

We will have to wait and see though I have to say the earn rate has to be better as it could not be worse :!:

 

[MAX_1]

[FONT=Calibri, sans-serif]Is being introduced from Monday 28 March 2011.[/FONT]
[FONT=Calibri, sans-serif] [/FONT]
[FONT=Calibri, sans-serif]Annual fee of $395.[/FONT]
[FONT=Calibri, sans-serif] [/FONT]
[FONT=Calibri, sans-serif]The minimum credit limit is $18,000.[/FONT]
[FONT=Calibri, sans-serif] [/FONT]
[FONT=Calibri, sans-serif]Has all the advantages of the Platinum Card [/FONT][FONT=Calibri, sans-serif]PLUS[/FONT]
[FONT=Calibri, sans-serif] [/FONT]
[FONT=Calibri, sans-serif]- Higher points earn rate of 1.25 points per $1 spend on Mastercard (also retains the Amex card as a partner earning points in line with the current Platinum card)[/FONT]
[FONT=Calibri, sans-serif]- Higher points cap at 1 million Commonwealth Awards points or 500,000 Qantas Frequent Flyer points[/FONT]
[FONT=Calibri, sans-serif]- Mastercard World Privileged Access Program [/FONT]
[FONT=Calibri, sans-serif]- Exclusive events calendar and ‘Redeem for Anything’ service[/FONT]
[FONT=Calibri, sans-serif] [/FONT]
[FONT=Calibri, sans-serif][/FONT]

 

[straitman]

[FONT=Calibri, sans-serif]Is being introduced from Monday 28 March 2011.[/FONT]

[FONT=Calibri, sans-serif]Annual fee of $395.[/FONT]

[FONT=Calibri, sans-serif]The minimum credit limit is $18,000.[/FONT]

[FONT=Calibri, sans-serif]Has all the advantages of the Platinum Card [/FONT][FONT=Calibri, sans-serif]PLUS[/FONT]

[FONT=Calibri, sans-serif]- Higher points earn rate of 1.25 points per $1 spend on Mastercard (also retains the Amex card as a partner earning points in line with the current Platinum card)[/FONT]
[FONT=Calibri, sans-serif]- Higher points cap at 1 million Commonwealth Awards points or 500,000 Qantas Frequent Flyer points[/FONT]
[FONT=Calibri, sans-serif]- Mastercard World Privileged Access Program [/FONT]
[FONT=Calibri, sans-serif]- Exclusive events calendar and ‘Redeem for Anything’ service[/FONT]

I was just about ready to tell CBA where to go with their CCs but this may be just enough to change my mind.

 

[MAX_1]

I was just about ready to tell CBA where to go with their CCs but this may be just enough to change my mind.

Using QFF points as the standard comparison,
CBA Diamond for $395 earns
Visa card will earn 0.635 Qff points/$1 spend and
Amex card will earn 1.5 Qff points per dollar.
It says a max of 500,000 Qff point.

NAB Qantas Platinum for $295 earns
Visa card will earn 0.66 Qff points/$1 spend and
Amex card will earn 1.5 Qff points per dollar.
and there is Max earn.

Is the Diamond card competitve? I need to read the T&C's first. I just hope they don't try the tricks that they used to hide how pathetic the Platinum card has become.

 

[lovetravellingoz]

[FONT=Calibri, sans-serif]- Higher points earn rate of 1.25 points per $1 spend on Mastercard (also retains the Amex card as a partner earning points in line with the current Platinum card)[/FONT]
[FONT=Calibri, sans-serif]- Higher points cap at 1 million Commonwealth Awards points or 500,000 Qantas Frequent Flyer points[/FONT]
[FONT=Calibri, sans-serif]- Mastercard World Privileged Access Program [/FONT]
[FONT=Calibri, sans-serif]- Exclusive events calendar and ‘Redeem for Anything’ service[/FONT]

Thanks.

Do you know if you can use the card to get points to other FF programs...or is QFF only?

Does the 1.25 points convert at 1:1 ?

 

[MAX_1]

Thanks.

Do you know if you can use the card to get points to other FF programs...or is QFF only?

Does the 1.25 points convert at 1:1 ?

If it is based on the CBA Plat card, there will be 2 options.
Option 1. Points to go to Qantas and Qantas only.
Option 2. Points remain in Commonwealth Rewards
I don't have much experience with C/Rewards but do recall that flights can be booked with other airlines but not sure of the rate.
The original 1.25 points convert ( if based on Plat card ) to 1.25 C/Rewards which in turn convert to Qantas at 2 for 1. Hence my original comment earlier is that every $1 spend will convert to 0.625 Qff points.

Again, I wait for the fine detailin T&C's.

 

[straitman]

If it is based on the CBA Plat card, there will be 2 options.
Option 1. Points to go to Qantas and Qantas only.
Option 2. Points remain in Commonwealth Rewards
I don't have much experience with C/Rewards but do recall that flights can be booked with other airlines but not sure of the rate.
The original 1.25 points convert ( if based on Plat card ) to 1.25 C/Rewards which in turn convert to Qantas at 2 for 1. Hence my original comment earlier is that every $1 spend will convert to 0.625 Qff points.

Again, I wait for the fine detailin T&C's.

If you are correct then it really is still quite poor from where I'm sitting. I initially thought, from your earlier post, that you meant 1.25 QF points per $ spend. :evil:

 

[UP4014]

If it is based on the CBA Plat card, there will be 2 options.
Option 1. Points to go to Qantas and Qantas only.
Option 2. Points remain in Commonwealth Rewards
I don't have much experience with C/Rewards but do recall that flights can be booked with other airlines but not sure of the rate.
The original 1.25 points convert ( if based on Plat card ) to 1.25 C/Rewards which in turn convert to Qantas at 2 for 1. Hence my original comment earlier is that every $1 spend will convert to 0.625 Qff points.

Again, I wait for the fine detailin T&C's.

It would appear my existing arrangements are still better than this new offering.

 

[Extasea33]

why make another card when the platinum card should simply be improved. I won't upgrade unless they offer it to me for the same price. :-|

 

[trippin_the_rift]

I was in the new Brisbane CBD flagship branch today and it's fabulous. Easy, fast and feels more like a store than a bank. Commonwealth Bank really did get it right with this new design, layout and heightened customer focus.

Too bad their credit cards strategy manager can't adopt a similar strategy.

Not worth the upgrade in my books - plenty of better alternatives out there...

 

[straitman]

I was in the new Brisbane CBD flagship branch today and it's fabulous. Easy, fast and feels more like a store than a bank. Commonwealth Bank really did get it right with this new design, layout and heightened customer focus.

Too bad their credit cards strategy manager can't adopt a similar strategy.

Not worth the upgrade in my books - plenty of better alternatives out there...

We have the other extreme here.

I live in Sale and have now resolved to not use the Sale branch again unless absolutely necessary.

They make the new CBA ads almost look like false advertising. Absolutely no service and a pain to deal with. Instead of going three km into Sale I now drive 15 km to Maffra.

 

[Diesellife]

It is joke and shame on CBA if the earn is 0.625 QFF per $1 on MC.

Their card positioning team is stupid, one would have thought their World MC product would at least sit above NAB platinum's earn rate and perhaps somewhere similar to Citi Select?!

PS: I am a current World MC user in HK and honestly, the benefit is quite similar to the platinum!