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Commonwealth Bank Diamond Awards

Commonwealth Bank Diamond Awards

3.5 from 41 reviews · View Statistics
See the Best Frequent Flyer & Travel Credit Cards in 2021 as rated by Australians on ProductReview.com.au.
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Pros

  • 100,000 Bonus Points on offer

  • Earn 1.25 Awards Points per $1

  • International Travel Insurance included

  • Cashback offers with Mastercard Travelers Rewards

Cons

  • $349 Annual Fee

  • 3% International Transaction Fee

  • Minimum Credit Limit of $15,000

Details

CategoryFrequent Flyer & Travel Credit Cards and Rewards Credit Cards
Card TypeMastercard
BenefitsComplimentary Travel Insurance and Sign-Up Bonus Points Offer
Minimum Credit Limit $15,000
Maximum Credit Limit $50,000
Additional Cardholders 1
Additional Cardholder Fee $10 p.a.
Minimum Repayments2%
Rewards ProgramCommBank Awards
Points Earn Rate 1.25 points per $1
Points Conditions
  • 1.25 Awards points per $1

This is capped at 1 million points per year.

Contactless PaymentsApple Pay, Fitbit Pay, Garmin Pay, Google Pay and Samsung Pay
Rates & Fees
Purchase Rate20.24% p.a.
Cash Advance Fee2%
Late Payment Fee$20
Annual Fee$349 p.a.
Foreign Transaction Fee 3%
Interest Free Period 55 days
Cash Advance Rate21.24% p.a.
Introductory Offers
Sign-Up Bonus

Receive 100,000 Bonus Points when you apply by 29 April 2021 and spend $5,000 within 90 days from activation.

Release dateJuly 2011
Visit official website

Reviews

  • Transparency
    4.0 (28)
  • Customer Service
    4.3 (30)
  • Rates and Fees
    3.3 (31)
  • Rewards
    3.4 (28)
  • Online Experience
    4.3 (29)
  • Application Process
    4.1 (24)
Previous
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Weerakoon
Weerakoon
  • 9 reviews
  • 4 likes
  • Verified

Complements from Comm.Bank Diamond Awards

published

I have recently used my Commonwealth Diamond Awards points in order to obtain some valuable items. These items were the top two in my wish list. Therefore I am so happy that I was able to get the items whilst saving a lot of money. It was like a dream come true.

I understand that one can easily collect points by using the Diamond Awards card in a short period of time through Awards system. The system has encouraged me to add more items to my wish list which is now a reality. Otherwise purchasing these items would have been only a dream.

Transparency
Customer Service
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The reviewer stated that an incentive was offered for this review

Decent card but nothing unique or exciting!

published

No great benefits
Feel good factor
Got it as part of wealth package
Rewards are decent
CBA has great customer service and great online banking
Like to have all banking stuff in one bank only

Transparency
Customer Service
Valkyrie
ValkyrieSydney, NSW
  • 4 reviews
  • 3 likes

Probably one of the worst top level credit card to own

published
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The reviewer stated that an incentive was offered for this review

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Easy Access Travel Insurance is a bonus.

published

The main benefit I find is the travel insurance as I travel frequently and it is one less thing to have to worry about arranging. I use multiple cards though as this one charges international transaction fees.

Transparency
Customer Service
skyblue
skyblueSydney
  • 5 reviews

Okay but not great

published

This credit card used to be very good when it came to earning points, but since they discontinued the Amex card, the earning rate has dropped dramatically and they cancelled zero international fees. Free international travel insurance is still available for customers. Points needed to redeem re Awards program seems to be increasing. I will be shopping around to see if there are other credit cards on offer with better deals.

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Justonereview
JustonereviewGreater Melbourne (Metropolitan), VIC
  • 2 reviews

Reward points can be better

published

I got the card as part of the wealth home loan package. There were 2 cards, an AMEX and the MasterCard. The AMEX was good cause the reward points were higher than MasterCard. Then they took the AMEX away and lower the reward points so I used it less now.

Transparency
Customer Service

Pretty good but poor point rewards

published

The card has great travel insurance included. Points system is not very rewarding. The international fees are also high. I only have it because its free with my home loan.

Transparency
Customer Service
  • Verified

Best credit card

published

So many promotions to get extra points, free overseas insurance for whole family. Good exchange rate and low fee to use in overseas. Easy to maintain through internet banking. Strongly recommended.

Customer Service
Rates and Fees
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The reviewer stated that an incentive was offered for this review

Chris
ChrisPerth, WA
  • 10 reviews
  • 10 likes
  • Verified

My card of choice

published

I have found that the best benefit of this card is the travel insurance feature. Unline other premier cards you don't need to purchase your travel (flights/accom) on this card to activate the travel insurance. Just log into Commbank, tell them where, when and who is going and activate it on a trip by trip basis!
The rewards return is reasonable for this class of card (~0.5 points per $1 spend) and can be converted to Qantas or Virgin points or can be redeemed on a range of items through the CBA rewards program i.e. at Flight Centre or Myers to name a couple.
With CBA now offering Apple Pay support, I keep this one in my digital wallet, making it very handy to access.

Transparency
Customer Service
Frequent Flyer & Travel Credit Cards

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thomalfa
thomalfaSydney, NSW
  • 5 reviews

One of the card that i want to get rid but i can't

published
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Dan
DanGreater Melbourne (Metropolitan), VIC
  • 5 reviews

My card for my needs

published

I've had this card for 5 years since it comes free with the CBA home loan wealth package
It comes with free travel insurance (no longer needs to be activated - automatic cover)
However since AMEX has been removed (2 points per $ spend) it's been much harder to earn points. Since this change, we've just used the debit card for convenience since it comes with the wealth package too (no points earned)
Definitely worth using if you're already on the wealth package and a frequent traveller for the free travel insurance, but wouldn't use it for the points conversion.

Incentivised Review No
Nirmal P.
Nirmal P.Illawarra, NSW
  • 2 reviews

low annual fees then other cards

published

I have this credit card over 8 years, but good part is I'm still paying $
199 annual fees which is now $349.
Getting lots of points and benefits.
love this card,will keep it forever.

Customer Service
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Samuel
SamuelHobart, TAS
  • 8 reviews
  • 2 likes

Great when paired with Wealth Package.

published

This card is great when paired with a Wealth Package (Attached to your Home Loan).
The wealth package forfeits the annual fee for this credit card, making it free while giving the user all of its benefits.
Decent awards and free travel insurance.
The only downside I have found is International Conversion Fee's are no longer free (since CBA removed the complimentary AMEX card which used to be paired with this card for free).

Transparency
Customer Service
Sam J.
Sam J.Perth, WA

Excellent card for free travel insurance but high overseas fees and average rewards point for spending

published
Transparency
Customer Service
Jack H.
Jack H.
  • 9 reviews
  • Verified

Was once top of its class, now it is at the very bottom

published

Been with CBA for nearly 6 years, banking, credit card and home loan with them. I have seen this credit card fall off in comparison with what's out there. It USED to offer amex companion card and no overseas transaction fees on the amex card. Now there is no amex and the rewards rate is the lowest in its class for flights, CBA Awards are not competitive either. If not for my current home loan with them I would probably cancel this card.

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