Commonwealth Bank Credit Card Rewards

Commonwealth Bank offers a very competitive rewards program for its credit card customers, and you can access it through the Commonwealth Awards credit card, the Commonwealth Gold credit card and the Commonwealth Platinum credit card. The Awards program is one of Australia's most popular, and according to Commonwealth bank, it offers users 'choice, freedom and value for money'.

Each card has its own range of features, and obviously the Platinum credit card comes with the most features but with the highest annual fee and credit requirements. Other than that, the three cards are largely comparable, and the only real difference as far as the rewards program goes is the maximum amount of points you can earn.

Let's take a closer look at the rewards program itself.

Details, terms and conditions are all subject to change without notice, so always double check information with the relevant financial institution. Any ratings are opinions of creditcardrewardprograms.com.au and may not take into account your individual requirements. Always perform your own research when selecting a credit card.

Commonwealth Bank Awards Program

$1 Spent = 1 point
Minimum Spend to Earn A Reward* - $4000
Range of Rewards - High
Swap for Airline Rewards - Yes
Bonus Points - Yes
Maximum Points* -

Awards credit card = 50,000 points
Gold credit card = 100,000 points
Platinum credit card = 150,000 points

Value of Cards - Good

*Not including bonus points/special offers. Points are calculated per annum unless otherwise stated.

Commonwealth Bank's credit card rewards program has a lot to offer its customers. You can expect to earn one point for every dollar you spend, and a quick look through the awards brochure reveals the Awards card offers some of the best redemption value available on the market.

While it can differ from prize to prize, many of the rewards you can access present better value than some competitors. Commonwealth also has a range of bonus partners that allow you to earn extra points at an uncapped amount. While you wouldn't use these businesses every day, it does present a good opportunity to earn extra points now and again.

The rewards catalogue is quite extensive, and you can access your Awards points when you login to Netbank. Apart from a range of vouchers and merchandise, Commonwealth Bank has a Travel Plus booking service that gives customers access to discounts, plus you earn further bonus points when shopping through this service (especially with Gold and Platinum cards).

All the top rewards program features are available, including a cash-back option that allows you to take a dollar amount off your account balance. There is also a points plus pay option, which allows you to make up the any points difference with money so you can access rewards sooner.

You have the option to trade Awards points for your choice of Velocity or Frequent Flyer points, but this occurs at a reduced rate. The Travel Plus service allows you to book flights with your points from a large range of airlines, so in most cases, you would be better off utilising this service.

It's also good to know that points have no expiry, so you can accumulate for as long as you want.

There's a reason why this is one of the most popular credit card rewards programs in Australia. If you want to make the most of credit card rewards, have a look at our Rewards Program Tips.