Commbank Credit Card Changes + potential Discover Card offering

[Nate-Dawg]

Usually sites like Points Hacks have a commercial partnership with the likes of Commbank so they are given the details in media releases and briefings with the understanding they'll report it positively.

Yep, Point Hacks have been doing sponsored content for CBA Travel Booking. And in the case of the article about the CBA Yello changes, Point Hacks removed the section about how the $149 QFF participation fee can be avoided by just transferring via Everyday Rewards.

 

[asterix]

That looks to be for Smart and Díamond. Presume ultimate is different.

Ahh yes, you are right, I hadn't noticed. Might need to upgrade to Ultimate if it keeps the unlimited cancellation coverage.

 

[GSP]

I'm assuming the dining/travel credits will be given regardless of how much spend, i.e no $4k hoops to get that like there was to avoid the $35 monthly fee (for the Ultimate).

 

[henrus]

I'm assuming the dining/travel credits will be given regardless of how much spend, i.e no $4k hoops to get that like there was to avoid the $35 monthly fee (for the Ultimate).

That is correct. The spend is gone for good.

 

[http_x92]

For Wealth Package holders, looks like the Ultimate card is still fee free.

International transactions come in at 0.66 QFF, other transactions come in at 0.33 QFF pts per dollar with the Yello Gold tier. Points on everyday purchases is slightly worse than the 0.4 previously but it is the international transactions that will take the biggest drop.

For no fee, it is better than nothing but the reality of the new Australian CC market will hit come October.

 

[patrickw]

International transactions come in at 0.66 QFF, other transactions come in at 0.33 QFF pts per dollar with the Yello Gold tier.

I haven’t seen a better international spend earn rate on a card with no FX Fee?

 

[http_x92]

I haven’t seen a better international spend earn rate on a card with no FX Fee?

There is the Bankwest Qantas World Mastercard but it has a $320 annual fee to keep it and its 1 QFF pt / $ but its only on the first $3,000 spent per month before it drops to 0.2 QFF / $. YMMV.

 

[jumpjam]

I am on wealth package and Yellow Diamond. I have Platinum CBA Card. It counts rates and governemnet spend at 1 CBA point per $. I currently have 75,000 CBA points. Should I keep then or transfer them out? to where?

 

[Scr77]

I am on wealth package and Yellow Diamond. I have Platinum CBA Card. It counts rates and governemnet spend at 1 CBA point per $. I currently have 75,000 CBA points. Should I keep then or transfer them out? to where?

IMHO, transferring out before the devaluation is better value. I went with velocity. I guess if you’re engaged with Avios already, you could wait and go there.

 

[Viridis]

The big nasty that so far hasn't been mentioned in all these articles will also be points expiry is coming, previously CommBank Awards didn't expire if the card is open, CommBank Yello points will expire if no activity over 2 years.

"Your Points expire two (2) calendar years from the date you last:
(a) earned Points (for example, from using your CommBank Yello Earn Card); or
(b) redeemed Points (for example, to redeem a Reward), whichever is later.
Each time you earn or redeem Points during the 2-year period, the expiry period resets and a new 2-year period commences from that later date.
If you do not earn or redeem Points to reset the expiry period, your Points will be forfeited without notice once the 2-year period ends"

https://www.commbank.com.au/content/dam/commbank-assets/commbank-yello/docs/commbank-yello-changes/commbank-yello-terms.pdf

The other point worth considering is what happens if you don’t meet the eligibility criteria

3.3 of the T&Cs

If you do not meet the eligibility criteria for your current Tier or a higher Tier

• Three calendar Months Tier access:
If you do not meet the eligibility criteria for your current Tier or anhigher Tier for three consecutive calendar Months, your Tier will move down to the next lowest Tier when we next update your Tier.

• Lowest Tier:
If you are in the ‘CommBank Yello’ Tier (the lowest Tier) and do not meet the eligibility criteria for three consecutive calendar Months, you will no longer be eligible for the CommBank Yello program when we next update your eligibility.

You may rejoin the program if you again qualify for CommBank Yello overall and meet the eligibility criteria for a
Tier.

CommBank is not my primary bank. I have accounts and CommSec but the appalling earn & redemption rates means that I direct my spending elsewhere. I use CommBank when there is a benefit to me …. which is rarely. I realise this is the point of their ‘enhancements’ …

Not sure if the points are held in abeyance or you forfeit when you don’t meat the criteria.

I may be interested in the proposed Charge Card when the details are released but until then every transaction is a (points) loss just retaining eligibility