Commonwealth Bank Diamond Awards

I've held a Diamond Rewards Visa credit card (and its predecessors) on a fee-free basis for over 30 years. For me, its most useful feature is the free travel insurance, especially as I travel overseas several times a year. Otherwise it’s nothing particularly special, compared with my Amex points earning credit card. I was happy to keep it on a… Read more

complimentary basis, but a few days ago I received an email from CBA stating that they had been providing this card fee-free in error, and to correct their mistake they would start charging me $32 per month.

Well, of course, I wasn't happy to accept this, and contacted CBA by phone. The agent I spoke to basically said too bad, you’ll just have to wear it. I wasn’t particularly surprised by this response, and had prepared for this eventuality, so I asked the agent to close my account there and then.

To my mind this is just another example of how rapacious the CBA has become, in extracting the last cent from its customers. I also have similar complimentary credit cards with other banks and they have not (yet) pulled the same stunt as CBA.

CommBank, making banking difficult from day 1! – I applied for a credit card and received it. Had to go into the bank to get my second card holders identity checked and it took him 45 mins to set it all up. Then they called and said I needed to go in and verify my identity too before the second card holder could be approved. I tried to put the card in Xero business accounting, but found out that… Read more

I can't actually get bank feeds for CommBank personal credit cards!!! This is the reason that I have it. I will be cancelling both this card and my other credit card that I have with Comm Bank.

I don't have a bank account with them and they make my life difficult. I can't setup automatic direct debit payments from a third party bank provider, so have to manually pay the card off. Ridiculous.

They make life so difficult for customers!

pathetic is the work – the whole bank itself is pathetic. called but wait time is 20 mins. waited for 20 mins and call is disconnected. who uses such a pathetic service who treat customers as slaves / dogs. Show details

GREAT VALUE if you are looking for Free travel insurance and awards points – My husband and I have been using this credit card far before when they had a matching AMEX option with COMMBANK. Anyway, we love this credit card. We travel once a year overseas and guess what... if you buy your air fare tickets with it, you get FREE travel insurance which you can activate via the Commbank App before you leave. Also, each time you… Read more

use it, you get awards points, which I accumulate and then exchange for Coles Gift cards etc. It is worth every penny of the yearly fee as we save to make back about $1000 a year. We put the majority of our bills on card. Also, once I lost my card and was able to get a new one sent quickly just by using the app saying I lost it. Also, once we a purchase and did not get what we were entitled to and they happily refunded us with thousands once we provided facts and documentation. This card is great! BUT, do not use this card for overseas purchases or purchase online in other currencies as there is a crazy transaction fee associated with it. We use get no international transactions fees with the AMEX linked card but that option is gone now. We purchase all items overseas on holiday and online purchases with Latitude 28 Degrees free credit card and you get global wi fi for free. YEP!

Pretty good but benefits have been cut – A pretty good card as the top tier CBA credit card but lately its lost its value a bit. We have these cards bundled in with our home loan package but am disappointed in the changes lately. No more Amex cards which means much less value for reward points. Previously you would get 3 points per $1 but now its only a MasterCard which gets you 1.25.… Read more

First few years we made points like crazy but now its really hard to get it moving. Redeeming is fairly easy but even the rewards are seeming to get more expensive. They send you a text and email days before your bill is due and then overdue (if so the case). They charge about a 3% fee on international transactions which I think is a bit much considering there is credit cards out there that don't charge a thing. They also used to do a special "Concierge" thing for this premium card but I used it twice and I found it useless, they had no idea what they are talking about, I asked how much a transfer from an airport would cost me and it took them 5 days to get back to me and it was like triple the price of quotes I got myself, not surprised they got rid of it. I find my card fades easily and has been replaced twice in the past. Online the transactions are labelled fairly well and come across quickly.

Complements from Comm.Bank Diamond Awards – 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… Read more

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.

Reward points can be better – 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. Show details

Best credit card – 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.  Show details

Decent card but nothing unique or exciting! – 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 Show details

Easy Access Travel Insurance is a bonus – 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. Show details

Okay but not great – 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. Show details

Pretty good but poor point rewards – 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.

My card of choice – 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… Read more

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.

My card for my needs – 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… Read more

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.

low annual fees then other cards – 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.

I used to love my credit card but the amex linked card is no longer available to use – This credit card is great value because I can accumulate the points for rewards. Hope I can still use the linked amex credit card but this options is unavailable now. Show details

Great credit card but less value for points – If you compare the fees and the value for points, the card is not attractive - It offers all features like other credit cards and the same duration. Only advantage is the choice of rewards options available and the ease of transferring points. Show details

Amex portion is gone – I used this card (part of a home loan package) regularly when it had an associated Amex but it's just Mastercard now. Rewards points decreased as well so I'm using it a lot less. There is a good security check if a transaction is made on a foreign website. Show details

Great Card – The CBA Diamond Mastercard is a great card. CBA have a great rewards program and we can also transfer our points balance to Qantas Frequent Flyer points. The only down side is you get 1 Qantas point for 2 CBA points but it's better then nothing and our last European vacation cost us $1500 less because of the points we had. I am very happy with this card. Show details

only have single card for both wife and husband, great on rewards till recently amex cut down on its point system – only have single card for both wife and husband, great on rewards till recently amex cut down on its point system. accepts world wide and get alerts for every transaction you make. can also link to apple pay and easy to use on paypal and apple watch. Show details

Was a Great Card But now it is just the same as the others – I got the Diamond Awards Mastercard and American Express. Both cards were offered as a package for the same fee. The AMEX provided an opportunity to get more points, and was the primary card we used. The Mastercard was the back up for placed that didnt accept Amex or charged a high surcharge to use it. The AMEX linked card was also great as… Read more

there were no international use surcharges.

However, Cth bank decided to cancel the Amex credit card service but kept the same annual fee and extra credit card fee. It is now harder to earn points, and the additional bonuses that AMEX offered were no longer available (such as AMEX offers, etc).

So now the Cth Diamond Awards card is the same as any other card, takes forever to earn points, charges high annual and additional card fees but provides nothing to keep you loyal. I am going to cancel the card once the next annual fee comes around for payment.

Update as of 2024

The following offerings have been removed from the Diamond Rewards Mastercard by Commonwealth Bank - Reduction of Accent Points you get for purchases - Removal of extended warranty on products purchased on card - Removal of loss and/or damage warranty on products purchased on card - Removal of automatic travel insurance (you need to activate even when you purchase tickets/accoms on card) - Removal of Yello cash back program from the credit Card (you can get it for free on a bank account only).

The overseas transaction fees have been increased as well.

Still have to pay a credit card annual fee (plus another fee for additional card holder)

Great card – Had this card for years. Very happy that it links with qantas frequent flyer program. Love having no interest on it when paid in full at the end of the month. Show details

Exactly what I need, but I am using it in limited way – As many other people reviewing it here, I also got the card years ago free with Amex offer (this offer expired years ago). The card is perfect for my needs, but my usage is atypical. I use it in Australia for all shopping, and always pay monthly bills on time, thus I never pay interest. The main reason why I really like the card is free… Read more

international travel insurance which it provides. While so far I never used this free insurance it saves me a lot of money (even basic travel insurance offered by other companies tends to be expensive, specially for longer periods of time). I also use it for flight bookings and overseas car rental, it offers free car insurance. Accumulated points can be converted to various merchandise on awards Web site. I always convert the points to Caltex fuel cards, which is very practical. Overall this card is perfect for me, but I appreciate that others may have different needs and priorities.

Bonus Credit Card – This card was complimentary with the CommBank Amex card along with a mortgage 10 years ago, thus, no fees. CommBank changed their policy and abolished the Amex. The Amex was the points collector for rewards. This card has had so many changes with regards to collecting and redeeming points, that it is now losing its appeal. The points required for… Read more

redeeming rewards has been standardised. The only value from the rewards is to convert points to Gift Cards for grocery shopping. Gift Cards can be received electronically or by post.