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Redeem Commonwealth Bank Awards Points at Myer

Want to make purchases at Myer for less cash? Pay with CommBank Awards points today with your Commonwealth Bank Awards credit card

What can CommBank do that the other banks can’t? Give you the power to use your points instantly in-store to make purchases at Myer department stores. All you need to do is present your Commonwealth Bank credit card at the counter and ask to pay with points. This offer is only exclusive to Commonwealth Bank Awards credit card holders and available in every Myer store around the country. You can redeem Awards points on any merchandise purchased from clothes to shoes and appliances. You can also redeem points on Myer gift cards.

Use this guide to understand how it works and discover how you can get value from your points at Myer.

Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Commonwealth Bank Business Awards Credit Card
Earn up to 1.5 Awards points per $1 spent and easily integrate your online accounting software.
20.74% p.a. 5.99% p.a. for 5 months $100 p.a. Go to site More info
Commonwealth Bank Business Gold Awards Credit Card
Earn up to 2 Awards points per $1 spent and receive an unsecured credit limit of up to $50,000.
20.74% p.a. 5.99% p.a. for 5 months $150 p.a. Go to site More info
Commonwealth Bank Business Awards Platinum Credit Card
Earn up to 3 Awards points per $1 spent and stay on track with instantly updated transactions.
20.74% p.a. 5.99% p.a. for 5 months $300 p.a. Go to site More info

How it works

  1. Choose what you want to buy from any Myer department store.
  2. Ask to ‘pay with points’ at the checkout.
  3. Swipe your card using your points and earn points on your Myer one shopping card too. You can also pay a portion with your points, and the remaining with cash or EFTPOS.

Comparison of Commonwealth Bank Credit Cards

Rates last updated May 30th, 2017
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Commonwealth Bank Low Rate Credit Card
This card offers a low ongoing rate of 13.24% p.a. on purchases, combined with a promotional balance transfer rate and up to 55 days interest-free on purchases.
13.24% p.a. 5.99% p.a. for 5 months $59 p.a. More info
Commonwealth Bank Low Fee Credit Card
Enjoy $0 annual fee for the first year and each year you spend at least $1,000 in the previous year. Plus receive up to 55 interest-free days on purchases.
19.74% p.a. 5.99% p.a. for 5 months $0 p.a. annual fee for the first year ($29 p.a. thereafter) More info
Commonwealth Bank Low Fee Gold Credit Card
Receive $0 annual fee for the first year and each year if you spend at least $10,000 in the previous year. Also enjoy up to 55 interest-free days on purchases and Gold card privileges such as included travel insurance.
19.74% p.a. 5.99% p.a. for 5 months $0 p.a. annual fee for the first year ($89 p.a. thereafter) More info
Commonwealth Bank Awards Credit Card
A dual credit card which lets you earn up to 1.5 Awards points per dollar spent.
20.24% p.a. 5.99% p.a. for 5 months $59 p.a. More info
Commonwealth Bank Gold Awards Credit Card
Earn up to 2 Awards points for every $1 spent and enjoy included travel insurance.
20.24% p.a. 5.99% p.a. for 5 months $119 p.a. More info
Commonwealth Bank Low Rate Gold Credit Card
A low rate card that comes with up to 55 days interest-free on purchases and included international travel insurance.
13.24% p.a. 5.99% p.a. for 5 months $89 p.a. More info
Commonwealth Bank Platinum Awards Credit Card
Receive Platinum benefits including up to 2.5 Awards points per dollar spent, included travel insurance and 24/7 concierge.
20.24% p.a. 5.99% p.a. for 5 months $249 p.a. More info
Commonwealth Bank Diamond Awards Credit Card
Earn up to 3 Awards points per $1 spent with a limit of 1 million points per year.
20.24% p.a. 5.99% p.a. for 5 months $349 p.a. More info
Commonwealth Bank Student Credit Card
Manage your spending with a $0 annual fee for the first year and up to 55 days interest-free on purchases.
19.74% p.a. 5.99% p.a. for 5 months $0 p.a. annual fee for the first year ($29 p.a. thereafter) More info

What is the value of my Awards points?

The value of your Awards points could vary from product to product and how many points you can earn on your regular purchases will also depend on the earn rate of your credit card.

For example, if you have the Commonwealth Bank Awards American Express card, you need to spend approximately $11,600 to get a $100 Myer Gift card. Compared to the Myer Visa Card, where you need to spend $10,000 to get a $100 Myer Gift Card. So you need to consider whether the $1,600 difference is worth getting your rewards immediately. Myer Visa restricts you to only rewards only from Myer, whereas the CommBank Awards program provides you with a larger range such as frequent flyer points and gift card facilities.

You can compare some examples of how many points you'll need to redeem specific products below.

ProductRecommended Retail PriceAwards PointsEquivalent in dollars

Fossil Watch

Fossil Watch

$8927,593$148

Olga Berg Croc Print Clutch

Olga Berg Croc Print Clutch

$34.9511,112$59.75

Kitchenaid KSM150 Artisan Stand Mixer

Kitchenaid KSM150 Artisan Stand Mixer

$646138,704$746

As a general guide, for beauty and lifestyle purchases you need to spend approximately double the RRP to be able to claim 100 per cent of the product back. In this case, it may be more worthwhile to use your points on a homeware product to truly reap the benefits of the CommBank Myer Points System.

Keep in mind that the points system may vary item to item and beware of changing terms and conditions.

Things to consider about the Commonwealth Bank Myer Points Redemption System

  • Myer’s Return Policy. All returns and exchanges are subject to Myer’s return policy, which means that you will need to be able to provide proof of purchase. This applies to all merchandise purchased with points from your Awards card.
  • What you can’t redeem. You cannot redeem the points for cash, towards payment of Myer Visa card account, layby accounts and ‘Coles & Myer’ gift cards. Some food and Miele appliances may apply from time to time.

Commonwealth Bank and Myer have provided this unique opportunity for shoppers. Would you be willing to take advantage of this offer? Leave a comment as to whether or not you will be paying with points next time you shop at Myer.

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Image: Shutterstock.

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