In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
  • Ask a question
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CommBank Diamond Awards Credit Card

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CommBank Diamond Awards Credit Card - DISCONTINUED
Terms and conditions apply
Bonus points
Purchase rate
20.24% p.a.
Reward points per $ spent
Annual fee
$349 p.a.

Our verdict

No longer offered

As of 2 June 2023, the CommBank Diamond Awards Credit Card is not be available for new applications. We’ve kept this information online for existing customers and for those who are interested. You can also compare a range of current rewards credit cards on Finder.


  • 100,000 bonus Awards points or 70,000 Qantas Points offer
  • 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% purchase interest rate and $349 annual fee are relatively high

In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
  • Ask a question
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. Right now, it offers 100,000 bonus CommBank Awards Points or 70,000 Qantas Points when you meet the spend requirement. 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.


Product details

Product Name CommBank Diamond Awards Credit Card - DISCONTINUED
Balance transfer rate p.a. 5.99% for 5 months, then 21.24%
Purchase rate p.a. 20.24%
Interest-free period Up to 55 days on purchases
Cash advance rate p.a. 21.24%
Min credit limit $15,000
Card type Mastercard


Available to temporary residents Yes - Conditions apply
Joint application No


Rewards program CommBank Awards Program
Bonus points 100,000
Rewards points per $ spent 1.25
Rewards points cap Uncapped


Annual fee $349
Minimum monthly repayment 2% of the closing balance or $25, whichever is greater
Late payment fee $20
Foreign currency conversion fee 3%
Cash advance fee 3% 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 cardholders 1

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

  • Bonus points offer. Apply and get approved by 1 June 2023 and you will earn 100,000 bonus CommBank Awards Points or 70,000 Qantas Points when you spend at least $5,000 on eligible purchases within the first 90 days of activation. Please note that to receive the bonus points promotion, you cannot hold or have held a CommBank Awards card in the last 12 months.
  • 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.

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.
  1., accessed 1 June 2023

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February 01, 2024

I plan to schedule my holiday, flights, and cruise for May, and I’ll use my Diamond Master credit card for payment. If I need to cancel the trip unexpectedly, will the credit card insurance cover it?


Amy Bradney-George Finder

February 05, 2024

Hi Lina,

The current CommBank Credit Card Insurances booklet (pdf, effective 02 June 2023) includes details of the type of cancellation cover available and when it may apply. As you have a specific trip in mind, you may also want to contact insurance provider Cover-More on 1300 467 951 to discuss your travel plans and the cancellation cover that may be available through your card. I hope this helps.

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February 21, 2023


Is the credit card fee charged monthly on the Diamonds Award CC?


Amy Bradney-George Finder

February 24, 2023

Hi Andrew,

The CommBank Diamond Awards Credit Card has an annual fee that’s charged once every 12 months.





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?


Charisse Finder

December 29, 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.



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June 28, 2019

Does the Diamond Card cover the excess on rental cars?


Jeni Finder

June 28, 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!



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March 14, 2019

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


Nikki Angco

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!



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