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CommBank Awards Program

CommBank Awards credit cards earn points you can redeem for shopping, travel, gift cards and more – so how much value can you get?

The Commonwealth Bank's Awards program offers points for every $1 you spend on eligible purchases made with a CommBank Awards credit card. You can redeem these points for rewards including travel, shopping, gift cards and frequent flyer points.

So if you have a CommBank Awards credit card or are thinking of getting one, here's a rundown on how the program works – including how to earn and use points and how to get as much value as possible.

How to earn CommBank Awards points

If you have a Commonwealth Bank Awards credit card, you will earn points for your everyday spending. These points are automatically added to your CommBank Awards account, which you can access by logging into NetBank or the CommBank App.

Credit cardEarn ratePoints cap (per year)
CommBank Awards1 point per $1 on eligible spending1,000,000 per year
CommBank Ultimate AwardsSpending up to $10,000 in a statement period:

  • 3 points per $1 on eligible international transactions made in store and online
  • 2 points per $1 on eligible spendings at major Australian supermarkets, department stores and petrol stations
  • 1 point per $1 on all other eligible everyday transactions

Spending above $10,000 in a statement period:

  • 0.5 Awards points per $1 after you've spent $10,000 per statement period (regardless of category)
No annual points cap
CommBank Business Awards1 point per $1 on eligible spending60,000

What is "eligible spending"?

Most everyday spending will earn points, including shopping at the supermarket, buying petrol or paying for dinner. Transactions that aren't eligible for points include BPAY payments, cash advances and payments made to the Australian Taxation Office (unless made with a CommBank Business Awards card).

3 ways to earn more CommBank credit card rewards

  • Introductory bonus point offers. If you're new to CommBank Awards, you could boost your point balance by getting a card that offers bonus points. Just keep in mind that sign-up bonus points are only available at certain times and may not be offered when you apply for a CommBank Awards credit card. They also usually have a spend requirement, such as spending $3,000 on eligible purchases in the first 3 months.
  • Bonus partners and eShop. CommBank Awards has a range of bonus partners that give you extra points on top of your usual earn rate. This includes when you shop directly with partners, as well as through the Bonus Points eShop – which offers up to 10 points per $1 spent.
  • Additional cardholders. If you want to share your account with a partner or loved one, you can request an additional card for them that will also earn points per $1 on eligible spending. If you're both paying with the card, you could earn even more points this way.

What rewards can you get with CommBank Awards points?

You can redeem your points for a range of rewards across the following categories:

Shop or pay with points at partnered stores

  • Shop with points at Myer. Redeem CommBank Awards points instantly when you shop online through, or when you're shopping in-store at Myer. If you're in the department store, just present your CommBank Awards credit cards at the register and ask to pay with points. You can also earn MYER one points on the eligible purchases.
  • Using points at Flight Centre. Use points to pay for travel bookings in-store, over the phone or online when you log in to your CommBank Awards account and follow the prompts to use points at Flight Centre.

Note that minimum and daily maximum point limits apply and are subject to the terms and conditions of the CommBank Awards program.

CommBank Awards website rewards

  • Gift cards. You can also redeem your points for gift cards to use in a number of stores including Myer, Caltex Star, Sunglass hut, Coles, RedBalloon, BP, Flight Centre and rebel. The number of points you need to redeem will depend on the dollar amount of the gift card.
  • Cashback. This redemption converts your points into credit on your card. When you choose the cashback reward option, your points will be deducted and a credit will take up to 10 days to appear on your card account.
  • Retail items. You can redeem your points for technological gadgets, home and personal electronics, sporting goods and more. You can pay with points or choose to pay with a mixture of points and cash.

Frequent flyer reward options

You can transfer CommBank Awards points to partnered frequent flyer programs including Velocity Frequent Flyer, Emirates Skywards, United Airlines MileagePlus and Qatar Airways Privilege Club.

With Velocity Frequent Flyer, every 2 CommBank Awards points convert to 1 Velocity Point. With Emirates Skywards, every 4 CommBank Awards points convert to 1 Skywards Mile.

The transfer rates for other frequent flyer programs are not publicly listed, but you will see details when you log in and follow the steps to make a transfer.

CommBank Awards Qantas Frequent Flyer options

If you want to earn Qantas Points with a CommBank Awards credit card, you need to opt in for an annual fee of $30. You'll then earn Qantas Points per $1 instead of CommBank Awards points, with an earn rate that's equivalent to 2.5 CommBank Awards points per 1 Qantas Point.

As an example, if you had a card that earned 1 CommBank Awards point per $1 and opted in to earn Qantas Points, you'd earn 0.4 Qantas Points per $1 instead.

Want to get more Qantas Points with a credit card? Check out the latest bonus point offers.

How much are CommBank Awards points worth?

There is no fixed value for CommBank Awards points because each reward has a different dollar value. This is the same with most reward programs that offer a mix of different rewards.

The CommBank Awards program also doesn't list details of how many points you need for different rewards unless you log in to your account. But once you've logged in, you can work out the value of your points by dividing the dollar value of a reward by the number of points needed to redeem it.

You can also use Finder's guide to calculating the values of rewards points as a cheat sheet.

How to get the most value from the CommBank Awards program

Always choose rewards that you want or need so you can at least save some cash. If there's nothing you want, just keep saving up points.

If you're a member of a frequent flyer program, you could also transfer your points for flight rewards – which can offer more than $20 value per 1,000 frequent flyer points.

How to redeem Commonwealth Bank Awards points

You can redeem your points in a few steps:

  1. Log in to your account through the NetBank or the CommBank app.
  2. Go to your cards or account list and choose your Awards card.
  3. Select "View Awards" in the app, or the Awards website link next to your card in NetBank.
  4. Browse rewards and follow the prompts to redeem.

Mistakes to avoid with a CommBank Awards credit card

  • Overspending. Spending within a limit is a necessary skill when it comes to using credit cards, since you can end up in debt.
  • Carrying a balance. Carrying a balance on your credit card can lead to debt, since this is how interest fees accrue and monthly repayments become unmanageable.
  • Not considering the standard features. Getting carried away with the attractive terms of a credit card promotion is ill-advised. You should always read the fine print and pay attention to the card’s standard features instead.
  • Making new purchases when you have transferred a balance. Carrying a monthly balance or having a transferred balance means that you won’t be eligible for interest-free days on new purchases. This means that your new purchases will accrue interest immediately, which can result in high interest fees over time.
  • Not using other complimentary extras. As mentioned earlier, if you’re an infrequent traveller who won’t have the opportunity to make much use of the card’s complimentary extras, you would be better off getting a cheaper card with less frills.
  • Making cash advance transactions. Withdrawing cash from the ATM using your credit card is a clear no-no, since you’ll be charged a cash advance fee while also immediately incurring interest at a high cash advance rate. That said, some other transactions may also fall under the cash advance category.

How to decide if the CommBank Awards program is worth it for you

With any rewards credit card, there is a chance that the card's costs will outweigh the value you get from any bonus points, rewards and other perks. So here's what to think about before you apply.

  1. Look at the cost of the card. The annual fee and the interest rate for purchases are the key costs. Ideally, you want an annual fee that is worth less than the value of your rewards.
  2. Ask yourself how much you'll use the card. The main way you earn points is by making eligible purchases with your credit card. If you don't earn enough points, getting rewards won't be worth it compared to the account costs.
  3. Think about whether the rewards are actually valuable to you. You can look at the types of rewards available through the CommBank Awards website before you actually get a credit card. If there aren't any that excite you, then this probably isn't the rewards program for you.

CommBank Awards is a popular credit card rewards program, but there are many others on the market. So when considering a CommBank rewards credit card, remember to compare your options among other rewards credit cards. Also weigh up the potential costs of a card in comparison to its potential benefits before deciding if it will be the most suitable one for you.

Picture: Commonwealth Bank

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Written by

Amy Bradney-George

Amy Bradney-George was the senior writer for credit cards at Finder, and editorial lead for Finder Green. She has over 16 years of editorial experience and has been featured in publications including ABC News, Money Magazine and The Sydney Morning Herald. See full profile

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4 Responses

    Default Gravatar
    TerrenceMarch 5, 2023

    Can I earn rewards points on a comm bank credit card to use in conjunction with my Emirates Skywards programe. If so which is the advised credit card to use.

      AmyMarch 15, 2023Finder

      Hi Terrence,
      You can currently convert 4 CommBank Awards points to 1 Skywards Mile with a CommBank Awards, CommBank Platinum Awards, CommBank Diamond Awards or CommBank Ultimate Awards credit card. You can compare details of these cards in this guide or look at Finder’s Commonwealth Bank Credit Cards guide to help you choose a card. Hope that helps.

    Default Gravatar
    janceyNovember 29, 2017

    I am confused how to claim Quantas points are they automatically transferred to the account? what do I have to do to have this transferred, I believe I use to have this automatically as before or has this all changed?

      Default Gravatar
      AshNovember 29, 2017

      Hello Jancey,

      Thank you for reaching out to us.

      For you to convert your CommBank Awards points to Qantas points, you will need to manually opt-in to Qantas Frequent Flyer Direct rewards program. Once enrolled, you will need to pay $30 each year then your points will be automatically credited to your Qantas frequent flyer account monthly.

      You may visit our guide to the Qantas Frequent Flyer Program to know how to join the program. You can also review your card’s Product Disclosure Statements/Terms and Conditions for more details.

      I hope this helps.

      Let us know if there is anything else that we may assist you with.


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