Get 20% Extra When You Redeem CommBank Awards Points for Cashback @ CommBank

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Dealking on 25/06/2021 - 23:30 files.ozbargain.com.au (295 clicks)
Last edited 28/06/2021 - 13:39 by 2 other users

Got this in my email. I usually redeem points for gift cards, which I feel is the highest value and the cashback usually is the least values. But this time, the cashback actually worked out to be much better than the gift card. I had about 50k points for which I could have gotten a $225 gift card or about $175 in cashback to my account.
But with this, I actually got $235 back in my account.

Mod: See comments, this information appears incorrect.

Check your accounts. On the awards page it still shows the normal cashback amount, but when you try to click and redeem, it shows the extra 20%.
Hope this helps some of us!
Enjoy

Terms from email:
~ Bonus 20% Cash Back is valid from 18 June 2021 9pm AEST for a limited time only and will be withdrawn without notice. Minimum of 600 points is required for offer to apply. Awards points redeemed and funds credited to a Member's CommBank Awards credit card under the Cash Back Award are non-refundable. A Member's CommBank Awards credit card must be open and active to redeem. Upon redemption of this Award, points will be deducted from the Member's CommBank Awards points account and funds credited to the Member's CommBank Awards credit card from which the points were earned within 10 business days. Funds credited as a result of redeeming a Cash Back Award will not contribute to any minimum monthly payment due.

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  adam on 26/06/2021 - 00:31

  I got no email but the offer was there when I logged in. Thanks Dealking!

  • 

    Dealking on 26/06/2021 - 09:37

    That’s good - so looks like it may not be targetted. All you need is probably to have more than 600 points to be eligible.
    Mods, can you remove the targetted tag?
    Thanks !

• 

  r0xz on 26/06/2021 - 00:42

  +3

  Is the 20% amount shown on the points calculator?

  Based on the points calc;
  $1=235pts
  $500=117500pts

  $500 coles digital gc=104650pts

  Seems coles gc is cheaper?

  • 

    hanofee on 26/06/2021 - 08:50

    Is that after 20%?
    Btw, Coles $250 digital gc was better value per point, about 300 pts cheaper (compare to $500 one) when I exchanged last week to buy those Coles mastercard deal (2 x $250 took less point than 1 x $500)

    • 

      Dealking on 26/06/2021 - 09:36

      I don’t think the points calculator has the 20%, that’s still before the 20%. As I said in the op, you get the 20% extra when you click the redeem cashback and it shows on the last page when you actually redeem. It’s a limited time promotion and looks like they haven’t updated the calculator for this. click the redeem cashback and see what you get.

      • 

        r0xz on 26/06/2021 - 09:57

        I've checked the point calculator has already been adjusted with the 20% bonus. There's a 20% increase of cash back based on the calculator VS redemption amount presented on the main page. Anyway, at least there's an increase to the cash back which is good if you prefer that compared to gc.

        • 

          hanofee on 26/06/2021 - 10:05

          +1

          @r0xz: Yeah, I got the same as you, needs 58750 for $250 cashback (which is probably in line with what Op posted as he said 50k-ish for $235). Coles Digital GC is 52150 for $250. So, it's not better, though being rather close I can see the merit if people just want to get cash quickly (I'd still think taking Coles and just swap with their prepaid mastercard even at full price with the fee is still better value). Thanks for posting.

          • 

            rokufan on 26/06/2021 - 13:18

            @hanofee:

            (I'd still think taking Coles and just swap with their prepaid mastercard even at full price with the fee is still better value).

            Thanks for the tip.

    • 

      r0xz on 26/06/2021 - 09:51

      It was just a quick comparison based on the points calculator (which I can see have already been adjusted with the 20% bonus) to the highest value that I could find but yeah, some of the gc with lower values took less points, so choose whichever gives you the max benefits.

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  huntabargain on 26/06/2021 - 10:10

  I got this too, so now can redeem 235 points for $1 (23,500 points for $100) however if redeem GC for eg BP, Ampol, Myer, Coles, etc you will need (21,000 points for $100). So its improvement, but not better value than GC. Not sure if you get better rate?

  • 

    Associatedrandom12 @ Commonwealth Bank on 26/06/2021 - 10:50

    Everyone has 235 points for $1

    • 

      maxall on 26/06/2021 - 23:31

      Does the 235 points for $1 before the 20% bonus cashback? Very confusing info and procedure on Awards website.