CommBank Rewards loyalty program

Launched in December 2019, the CommBank Rewards program gives you a way to get cashback on your spending with an eligible CommBank debit or credit card. Offers can be claimed through the CommBank app, which also includes a tracking tool so you can see how much you have saved through the program.

Want to make the most of this loyalty program? This guide gives you the lowdown on how it works and the types of offers you can expect.

How does CommBank Rewards work?

This loyalty program is available through the latest version of CommBank's mobile app for anyone over 21 years old who has an eligible CommBank Mastercard. This includes personal debit card, credit card and business credit card accounts that are not in default. But it excludes prepaid cards (including the Travel Money card), corporate credit cards and business debit cards.

You can opt in to CommBank Rewards through the app for free (and can also opt out at any time).

While offer details may vary, you'll typically be able to earn cashback by spending a set amount of money at a partner store or stores. Some examples of the everyday rewards on offer include spending $50 at Caltex and getting $5 back, spending $100 at Myer and getting $15 back or spending $100 at Menulog and getting $10 cashback.

When you meet the offer requirements, the cashback will be added to your account within 5–14 days.

Steps to claim CommBank Rewards offers

1. Log in to the CommBank app.
2. Go to "Products & Offers", then select "CommBank Rewards".
3. Browse the current offers and click on the "Activate" button to claim the offer.
4. Use your eligible card to meet the spend requirements at participating stores. Note that you need to tap or select credit when you use your card.

Where can I earn cashback through CommBank Rewards?

Cashback is only available at participating stores and locations, which could change based on what offers are available to you at any time. As a general guide, participating brands in December 2019 included Coles, Caltex, Myer, JB Hi-Fi and Menulog.

You can see current participating stores by going to the CommBank Rewards section of the app and looking at active offers – which include a list of eligible stores. Note that CommBank Rewards offers are personalised based on your spending history, so offers could vary between people and accounts.

How does CommBank Rewards compare to other loyalty programs?

As of December 2019, there are no other major banks that offer a loyalty program like CommBank Rewards for both debit and credit card customers. So there isn't a way to do a like-for-like comparison.

But if you are weighing up your loyalty program options, below is a look at the similarities and differences of three other established programs.

• Amex Offers: Available exclusively to American Express card members, this program offers limited-time promotions at participating retailers. Offers range from cashback when you meet a spend requirement, discounts at the checkout or other perks. This includes the annual American Express Shop Small campaign, which offers registered card members $10 cashback when they spend at least $20 at a participating store (capped at $50).
• Flybuys. This retail rewards program offers a standard rate of 1 Flybuys point for every $1 spent at Coles, Kmart, Liquorland and Target. You can redeem 2,000 Flybuys for $10 cashback in the form of Flybuys Dollars. Other options include Velocity Frequent Flyer points, merchandise and travel rewards.
• Everyday Rewards. Everydsay Rewards offers you 1 point per $1 spent at Woolworths, BWS and Big W. Every 2,000 Everyday Rewards points equals $10 off your shop at Woolworths. You can also redeem 2,000 points for 1,000 Qantas Points.

CommBank Rewards is a complimentary loyalty program available to anyone over 21 who has the CommBank app and an eligible debit or credit card. You can choose whether or not you claim offers and track how much you save over time. You can also opt out via the app, so there is a lot of flexibility.

But, if you're going to be using a CommBank Mastercard for purchases anyway, it makes sense to check the app and see if any offers fit with your spending plans.

Image: Amy Bradney-George