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CommBank Rewards - Bonus 20% Award Points for Cash

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CommBank Rewards - Bonus 20% Award Points for Cash
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dracothraxus on 03/06/2020 - 08:39 files.ozbargain.com.au (614 clicks)
Last edited 03/06/2020 - 09:21 by 1 other user

Redeeming CBA awards points for cash has never been great value but this makes it slightly better if you're not looking to buy anything specific in the near term. Not directly linkable but accessed through your Netbank portal through a banner at the top (unsure whether targeted or for everyone with CBA accounts).

Details:

Turn your Awards points into cash back and receive a bonus 20%

  • If you're looking to reduce your credit card balance faster, have you considered turning your Awards points to cash back?
  • From 3 June 2020 to 21 June 2020, you'll receive a bonus 20% when you redeem your Awards points for cash back to your account. Your cash back plus the 20% bonus will be credited straight to your account within 10 business days.
  • You can use your cash back to reduce your card balance, however it will not contribute to your minimum monthly payment due.

How to redeem:

  • On your NetBank homepage, click on ‘View Awards’ below your Awards card details
  • Select the cash back link
  • Alternatively, go to Awards website, navigate to the 'Redeem' tab and select 'Banking'
Financial Awards Bank Account

Related Stores

Commonwealth Bank
Commonwealth Bank

closed Comments

  • SquattingTiger on 03/06/2020 - 08:43

    Thanks! I've got it too.

  • Lesco Brandon on 03/06/2020 - 08:47
    +4

    Thanks. Just got $69 back

  • Kunkka on 03/06/2020 - 08:48

    So it's 235 Award points for $1 right?

  • dbglt on 03/06/2020 - 08:51
    +5

    Still worse value compared to the gift cards (if you can find a use for them). e.g. 20,000 points = $85 cashback, or a $100 gift card.

    And I don't think it is targeted.

    • iamjase on 03/06/2020 - 09:01

      not targeted its on my redeem award page. Better off getting a coles, westfield, rebel, myers, kmart gift card

  • dajackal on 03/06/2020 - 09:00

    How does it compare to a Coles gift card?

    • dajackal on 03/06/2020 - 09:08

      I did the math for the $50 gift card. It's comparable. 0.44c/pt gift card vs 0.42c/pt cash.

      • tinahuangtt on 03/06/2020 - 09:21
        +1

        Not the same value. 32,000 points for $150 Coles gift card but 33,000 points for $140 cash.

        • dajackal on 03/06/2020 - 10:03
          +1

          Yeah the higher value gift cards are better value.

  • zakarados on 03/06/2020 - 09:10

    thx got it

  • danieroo on 03/06/2020 - 09:11

    doesnt show up for me, but flight centre is worth $132 with 25000 points. normal cash back worth $97. for me it makes sense to use it at myer or flight centre with all the sales going on (30 - 50% off), or buy in store, then get a refund convert to $132 cash lol.

    • Telios on 03/06/2020 - 12:20

      I thought flight centre is under administration?

  • FutureMe on 03/06/2020 - 09:31

    I briefly got excited. Usually get Gift Cards as it is usually at least 10% better value than cash redemption. Just tried redeeming for cash and still looks like 10% better deal for gift cards. Where is that bonus 20%!!!!!

  • justtoreply on 03/06/2020 - 09:54

    Yeah but nah… it's an "almost" since GC are better. Had to remove my +ve.

  • Queen Muffin on 03/06/2020 - 10:09
    +1

    Cash is better than gift cards. You can put cash back to your credit card and you can do purchase and earn further points.

  • missspeckles on 03/06/2020 - 12:35

    Anyone know how long it takes for a gift card to be delivered? Want to order something from Myer, so thought that maybe I should use points to claim a gift card…

    • FutureMe on 03/06/2020 - 19:51

      Mine have usually taken over a week. Advantage with myer is I think you can pay with your commbank points over the counter.

      • pippohippo on 03/06/2020 - 20:13

        yep you can. It's quite handy

  • vjoz on 04/06/2020 - 11:23

    Do you see the 20% bonus displayed when you submit the cash back? I'm wondering if the 20% bonus may not be shown up front but will be credited which may make the deal better than gift cards?

    • RocketSwitch on 05/06/2020 - 10:53

      It says it's included.

      • vjoz on 05/06/2020 - 11:49

        Ok, thanks. Looks like gift card is still a better option if one needs it.

  • random101 on 04/06/2020 - 14:53

    Was just about to post this

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