Comm Bank Awards Program Review?

LGrandpipe on 22/12/2016 - 11:05

Just wondering who here uses the Comm Bank awards program? I've been using Comm Bank for a while now, but i recently got a home loan via NAB and took advantage of the 250K velocity points. So now i'm thinking of upgrading my card to an awards card, but can decide if i should move over to the NAB velocity or stick with Comm Bank and use their rewards program.

Unlike Qantas/Virgin, there doesnt seem to be a webstore i can use just to browse. So i'm wondering if i could get peoples opinions on how good the CommBank stuff is. It would be easier to stay with comm bank, seeing as all my savings and salary goes through this bank. But i'm more than happy to shift my credit card spending to another bank if the awards program is garbage.

Thanks

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Comments

  • ultrazonerc on 22/12/2016 - 11:10
    +1

    Ive been thinking the same thing today. Im a comm bank customer but trying to get the best rewards system around. From what ive read it seems the best way is to use AMEX to pay everything then pay the AMEX off each month. Has loads of rewards etc but I'm also not 100% sure

    • Wystri Warrick on 22/12/2016 - 11:38

      Yup, AMEX is the best rewards card for sure.

    • MeesusEff on 22/12/2016 - 12:15

      i have an AMEX cba issued card that I never use, will that card give me all the Amex offers I see floating around Ozb? If not I dont see the benefit of having it..

      • kasumi on 22/12/2016 - 12:31
        +1

        yes, your CBA AMEX will have those offers available (just register for the offers). I used to use my Amex (not banked issued card) but now i use my CBA Amex for everything as i get 3x points.

  • Pharos5 on 22/12/2016 - 12:10

    AMEX is the best, yes.

    CBA is $1 per 200 points when spent on gift cards eg petrol, coles, woolworths.

    Work out if NAB is better and which card gives more points. That's how I compare.

    This is different if you actually use your points for flights regularly.

  • ExtraSalt on 22/12/2016 - 12:51

    I'm with Commbank. I get 3points for ever $1 spent on the Amex. I pretty much live off my credit cards…i dont carry cash of my debit cart. I do however pay off my spendings the day of or after so not too fussed. I think in your case, check the rates but NAB might be better for you as they should waive the annual fee for your credit card and you can in turn pick up the highest paying $$ to point return card.

    That whole statement didnt read well or make sense to me…but there is 1 and a half full days work before christmas so it will do haha…..

    • Grandpipe on 22/12/2016 - 20:21

      So how is the program? Velocity there are heaps of options. Can buy loads of stuff, flights (obviously) gift cards, apple products blah blah. Is it comparable with the comm bank rewards?

      • ExtraSalt on 23/12/2016 - 07:21

        I've noticed the Commbank rewards program itself is quite expensive when you purchase products, so i only get gift cards and physically go purchase the items in store….in saying that, the cost of a $100 gift card went up about 10% to 20000pts in the last 6-12m. I've noticed that Velocity have made a huge run in advertising and expanding the brand….that can only be good for the consumer.

        In terms of stuff like Flights and whatnot, Velocity is obviously directly linked to Virgin so you would probably get good points to $$ whereas with Commbank you can only purchase a Flight Centre Gift Card. Without ever using Velocity rewards but based on the Commbank rewards system, i'd probably work out how much $$$ it would cost to get a $100 gift card in both systems. I wouldn't ever buy a physical product through their schemes because their pricing structure is usually a lot dearer than in-store.

        Obviously that starting 250K is huge but ignore that in your calculations.

        I need to look into this 250k thing….would that get you to America for a holiday?

        • Grandpipe on 23/12/2016 - 08:05
          +1

          Thanks for the feedback, i'll have to think it through.

          250K would get you two tickets to new york with change.
          http://www.nab.com.au/sites/personal/home-loans/spring-home-…

          Need to apply by 31/12, so you've got 7 days to make some big decisions which probably isn't enough time.

        • ExtraSalt on 23/12/2016 - 11:50

          @Grandpipe: ah k thanks. Ye I've been looking into moving my home loan a lot in the past 2-3months so i have an idea of whats going on to some extent.

          hmmm a return flight to NY wouldnt be half bad haha

  • Grandpipe on 23/12/2016 - 08:05

    edit: duplicate post

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