For a limited time, CBA is waiving annual fee on all new credit cards (including all Awards cards) for the first year.
The the dual card Platinum Awards' usual annual fee is $250. You may earn 3 Awards points for every $1 spent with the Amex card and 1 point for every $1 on the Mastercard.
No it starts from today.
My friend at CBA told me that there is a procedure for existing customer to have their annual fee waived for one year under this special offer as well. They are told to offer this to existing customers on an "exceptions" basis only so you may wish to ask your relationship manager politely.
PS. The expiry date of 14/02 was told by my friend. I couldn't find it anywhere on CBA website.
It has been my experience with the CBA that they will usually offer these 'limited deals' to existing customers if you ask politely and mention that you've been looking at an alternative. Whilst I can't speak for this deal directly, I usually get a better temporary interest rate by telling them I've been thinking about transferring my money to another account. (Which is the truth)
Same goes for me. When my interest rate dropped to around 4% I just sent them a message and told them that I was thinking of changing banks if they didn't give me the introductory rate. I got a message back the next day telling me that they had done so.
my CBA Visa always has $0 annual fee…
$0 for an amex/visa platinum card is a great deal.
If you are smart about where you use amex (major retailers) an average spender could easily rack up $1000 worth of points a year. 3 points per dollar spent on the platinum racks up really quickly with groceries and major purchases.
Platinum amex really is in a different league compared to other points earning options. You get around 1.8% of all your purchases back in points with amex and about 0.6% of your purchases back with visa. If you can only get gold amex you get around 1.2% of your purchases back in points with amex.
Compare this to the paltry rate of 0.2% (with points expiry) that you get with flybuys.
I'm still not impressed with CBA Platinum card compared to the Woolworths Qantas Platinum Mastercard. For $80 annual fee, you get free 16,000 Qantas FF points upon joining. $1 spend gives you 1 Qantas FF point. As comparison, 1 CBA point earned gives you 0.5 Velocity point.
Don't use it for FF/Velocity points then.
With the westpac cards they have their own rewards store, where you can easily redeem awards for fuel cards (equivalent to cash)
its $89 for their annual fee?
Not that it matters but CBA no longer issue Visa cards unless you're just up for a replacement.
Anyone knows the minimum income to qualify for Platinum?
I think its around 70k or thereabouts
dupe
Commonwealth Bank Platinum Awards Credit Card accounts are available:
To creditworthy customers over the age of 18;
To one additional cardholder over the age of 16 who is nominated by the primary cardholder;
Regardless of minimum income as customers are assessed on their total financial position.
I just canceled my CBA mastercard a few days ago. They breached the contract and charged me the annual fee of my low fee credit card in only 9 months even knowing I have spent more than the amount they required. If I didn't call them they would have happily stolen my money. I will never use a CBA credit card again.
when i click on the link it redirected me to a commbank page but it also asked for the login n password. DO NOT ENTER YOUR LOGIN AND PASSOWRD. the link's hacked
No it doesn't…
YES IT DID. i just checked and it asked for a commbank user name and password.
Same here. I just refreshed a few times and saw a popup for login. I clicked cancel and then an error page is displayed.
Looks like they misconfigured IIS on one of the NLB node.
You are not authorized to view this page
Please try the following:
Contact the Web site administrator if you believe you should be able to view this directory or page.
Click the Refresh button to try again with different credentials.
HTTP Error 401.3 - Unauthorized: Access is denied due to an ACL set on the requested resource.
Internet Information Services (IIS)
Technical Information (for support personnel)
Go to Microsoft Product Support Services and perform a title search for the words HTTP and 401.
Open IIS Help, which is accessible in IIS Manager (inetmgr), and search for topics titled About Security, Access Control, and About Custom Error Messages.
i wonder if anyone knows of the exact procedure for existing customers to have their annual fee waived for one year under this special offer? last time tried to do it over the phone they told me that i couldnt qualify unless i reapplied online via the special offer link. maybe ill try going into a branch this time by 14/2
If you goto a branch, they might be able to waive it for 1 year at the branch manager's discretion. Don't try and neg for another fee waiver the following year as they can only do that once.
Calling them by phone will be useless, I've been told in the past that they can't do the fee waiver thing over the phone.
For those looking to maximize their frequent flyer points the Combank reward program is no good. Unlike other banks who have 1:1 redeem rates, combank's points are worth only half of that. So essentially the Platinum CC is 1.5 points on Amex and 0.5 on MC. An average deal, particularly given the limited number of airline partners (Qantas, Virgin, and AirNZ only).
What would you recommend as an alternative?
I'm a student and spend around $15k a year, most of it using a card.
Just pick one with the lowest fees/rates, 15k a year is 15k points max, 15k points is only around 100-200 bucks when exchanging for a flight. Ain't that much.
get the BMW Amex Gold. Free + i got 10000 points after a few months + I think but cant remember for sure that it also racks up FF points too.
I guess it depends on what you want to get out of from the rewards program. As mentioned by muzzamo, CBA program will not be good for those looking to convert points into airline frequent flyer points. However, for those who do not spend much or do not travel frequently, and are aiming to redeem points for gift cards, CBA reward program does look appealing. Eg. a $100 Coles/Woolworths gift card costs 17,200 CBA points. By using the CBA Amex Platinum card, you'll only need to spend $5,733 (5,733 x 3 = 17,200). I can't see any other non-CBA credit cards that can match this, be it Amex, Visa or Mastercard.
adamiam - Assuming you can charge $15k to CBA Amex Platinum card during the 1st year (note that Amex acceptance rate is less than Visa/MC), you may earn points up to a value of $260 by redeeming for gift cards.
Apart from I hate CBA as a bank their rewards cards have low value with their point limits. You can't just spend $100k on CBA Amex and expect 300k points. I think the max you can accumulate and claim is around 150k points. Plus they charge for additional cards. No thanks.
My HSBC Visa card has no annual fee forever.
Good for you but the deal here is not about having annual fee. it's about how much you can make from CBA rewards in 1 year without paying any fee.
Why on earth would any persons of sound mind, want to have an account with CBA in the first place?
I do.
And, uh….. I am of sound mind.
So, nicely done.
Well wish u all the best with CBA. I currently have a dispute with them through FOS trying to get out.
I had 3 unauthorised OVER THE COUNTER transactions from my account by a same person, same id and same branch between 6 month period. I was LIED to by CBA bank manager and rep over the phone about this. Its a very long story. The main thing was it was their own fault.
09/10 1 transaction took place. I found out. Contacted them saying i am out of sydney and would be back in 4 days so please don't allow any over the counter transactions. This was on Tuesday. 2 days later on Thursday ..same person, same id, same branch they allowed another transaction. They didn't even tell me and would'nt even update my netbank so as to hide this from me. This was just one of the incidents. There were 2 more before this.
I was told by the bank manager it happens get used to it and that's what i told FOS who have now escalated the matter.
Have fun.
How did the fradulent transaction take place? Usually the teller records down the reference number of the ID that they sighted. Was your ID forged?
No my licence was stolen. That happened an year before the transaction took place. I notified them at that time. Also made sure they had placed an alert on my account to always sight 2 photo ids. It didn't work.
Isn't this a criminal case then? Have them pass on the video footage to the police.
Yup lodged a complain to the police. They even interviewed me. I gave them the name of the person and address and phone number whom i can guarantee it was. Its been 5 months now. I have called the detective incharge of the case 12 times only to be told to leave a message. No one ever calls back. The other officers always say he's away and will be back later. We'll make sure he calls you but never ever do i get a callback. No wonder these people steal.
A Current Affair and Today Tonight springs to my mind. :)
You really think they will take up something as simple as this especially involving the police. Nah…
I reckon this offer of waiving the annual fee is a great opportunity for us to save, especially for those who want to apply for a reward program credit card which almost always charge a high annual fee.
However it is also important to put this all into perspective and to compare how much value you are going to get out of a rewards program credit card based on your spending habits.
This page pretty much sums up most of the reward credit cards available in Australia atm:
http://www.creditcardfinder.com.au/reward-program-point-curr…
Haven't they had this "special" running for a while? I'm sure they had this in December.