CommBank Diamond Awards Credit Card

Earn up to 1 million points per year and enjoy a host of complimentary extras with CommBank’s top-tier rewards card.

Apply for the CommBank Awards Diamond credit card and earn 1.25 points per $1 spent on eligible purchases (up to 1 million points per year). Plus extras including complimentary international travel insurance, purchase insurance, extended warranty cover and cashback offers from Mastercard Travel Rewards.

20.24% p.a.

Purchase rate


Reward points

Per $ spent

$349 p.a.

Annual fee

55 days

Interest free period

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Product NameCommBank Diamond Awards Credit Card
Rewards programCommonwealth Bank Awards Program
Balance transfer rate5.99% p.a. for 5 months
Balance transfer revert rateCash Advance Rate (21.24% p.a.)
Purchase rate20.24% p.a.
Annual fee$349
Interest-free periodUp to 55 days on purchases
Cash advance rate21.24% p.a.
Min credit limit$15,000
Card typeMastercard
Foreign currency conversion fee3%
Available to temporary residentsYes - Conditions apply
Joint applicationNo


  • Up to 1.25 ​Awards points per $1 spent
  • Complimentary travel insurance, extended warranty and purchase security insurance covers
  • Cashback and exclusive offers through Mastercard Traveler Rewards


  • Both 20.24% p.a. purchase interest rate and $349 annual fee are relatively high
Rewards programCommonwealth Bank Awards Program
Bonus pointsN/A
Rewards points per $ spent1.25
Rewards points capUncapped
Annual fee$349
Minimum monthly repayment2% of the closing balance or $25, whichever is greater
Late payment fee$20
Foreign currency conversion fee3%
Cash advance fee3% or $3, whichever is greater
Overseas cash advance fee$3 or 3% of transaction value, whichever is greater
Additional cardholder fee$10
Number of additional cardholders1

Review by

Amy Bradney-George has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. Her work has also appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University.

Expert review

The CommBank Diamond Awards card offers both rewards and premium extras, including international travel insurance, purchase insurance covers and a mix of retail, travel and entertainment offers through Mastercard.

Along with these perks, the CommBank Diamond gives you a way to maximise your rewards when you pay with plastic with its high earn rates and high points cap of 1,000,000 per year. You can also use points to pay for purchases at Myer or travel bookings at Flight Centre, or redeem them for retail items, experiences or other options available through the CommBank Awards program.

How to apply

You can apply for the Commonwealth Bank Diamond Awards credit card online in a few minutes. Before you apply, make sure you meet the eligibility requirements and have the necessary details and documents on hand:

Eligibility criteria

  • New cardholders. To be eligible for the bonus points offer, you cannot hold or have held any CommBank Awards card in the previous 12 months.
  • Residency. You must be legally allowed to work in Australia. If you are not a permanent resident or citizen, you will need to provide your visa details.

Card benefits

  • Points per $1 spent. You'll earn 1.25 Awards points per $1 spent on eligible purchases up to 1,000,000 points per year. You can also earn uncapped bonus points per dollar spent when you shop with Commonwealth Bank Bonus Partners.
  • Qantas Frequent Flyer Direct. If you're a member of the Qantas Frequent Flyer program, you can opt to earn Qantas Points directly. The points you earn will be automatically transferred to your Qantas Frequent Flyer membership account monthly. There is a $30 annual fee for opting in to this program.

Rates & fees

  • Annual fee. The Commonwealth Bank Diamond Awards card charges an annual fee of $349.
  • Purchase rate. This card charges a variable purchase rate of 20.24% p.a.

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    Default Gravatar
    December 28, 2019

    With regards to to the Diamond Awards Credit Card, is the annual fee charged when you open the account or is it charged after the first 12 months?

      Avatarfinder Customer Care
      December 30, 2019

      Hi Stuart,

      Thanks for reaching out to Finder.

      The annual fee for CommBank Diamond Awards Credit Card is charged once each year and will depend on when you first activated your card.

      You may also contact CommBank and confirm this information directly with them.

      I hope this helps.


    Default Gravatar
    June 28, 2019

    Does the Diamond Card cover the excess on rental cars?

      Avatarfinder Customer Care
      June 29, 2019

      Hi Max,

      Thank you for getting in touch with Finder.

      Yes, this card has rental vehicle cover. You may contact its underwriter Covermore for more info on what your credit card insurance cover.

      I hope this helps.

      Thank you and have a wonderful day!


    Default Gravatar
    March 14, 2019

    I am travelling to United States of America can I be covered 100 % of medical insurance

      Default Gravatar
      March 15, 2019

      Hi Aniello,

      Thanks for getting in touch! According to our page and Commbanks website – overseas medical benefits – excess applies – is covered for you and family. It says on their website – There are key benefits and maximum benefit limits. If any excess applies, it’ll be included on your Certificate of Insurance. For everything that’s covered including limits, sub-limits, conditions and exclusions, carefully read our Product Disclosure Statement (PDS).

      To obtain more information on how much you can be covered, medically, by Commbank Diamond Awards Credit Card, I suggest contacting Commbank directly.

      Hope this helps!


    Default Gravatar
    December 7, 2018

    Can I get access to AMEX airport lounge by using on Commonwealth bank Diamond Card?

      Avatarfinder Customer Care
      December 12, 2018

      Hello Hok,

      Thank you for your comment.

      Upon checking, the Commbank Diamond Awards Credit Card now comes with Mastercard-only product, not Amex. If you’re an existing CBA Diamond Awards cardholder and have a currently-valid CBA Diamond AMEX, you can continue to make use of your American Express lounge passes for access to AMEX’s Sydney and Melbourne lounges until that AMEX card is cancelled.

      Please make sure that you’ve read the relevant T&Cs or PDS of this account to help consider whether the product is right for you.


    Default Gravatar
    June 12, 2018

    Hi there,
    What about access to Amex Lounge in Melbourne?

      Default Gravatar
      June 12, 2018

      Hi Sam,

      Thanks for leaving a question on our page.

      With the Commonwealth Bank Diamond Awards Credit Card, you get AMEX Sydney Airport Lounge complimentary access twice per year: or once per year if you bring a guest in with you (as that guest uses your second yearly ‘visit’).

      Hope this helps.


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