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Commonwealth Bank Diamond Awards

Commonwealth Bank Diamond Awards

3.7 from 20 reviews

See the Best Frequent Flyer & Travel Credit Cards in 2019 as rated by Australians on ProductReview.com.au.

Details

Commonwealth Bank Diamond Awards
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 120,000 Bonus Awards Points when you apply by 31 October and spend $6,000 by 31 January 2020.
Introductory Offers
  1. Apply for a Diamond Awards card by 31 October 2019.
  2. Spend $6,000 on eligible purchases with your new card by 31 January 2020.
  3. You'll get your Bonus Awards Points on your account within 90 days of you meeting the eligibility criteria.

(Keep in mind, if you’ve had any Awards credit card in the last 12 months, you won’t be eligible for this offer.)

Release dateJul 2011

Visit official website

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. 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.

Transparency
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Card Start DateJanuary 2012
Main Point of ContactPhone
Card / Account Used ForEveryday Expenses, Online Shopping, Overseas/Travel and Special Purchases

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 tarnsaction you make.
can also link to apple pay and easy to use on paypal and apple watch.

Transparency
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Card Start DateJanuary 2012
Main Point of ContactOnline
Card / Account Used ForEveryday Expenses

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 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.

Transparency
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Main Point of ContactBranch
Card / Account Used ForEveryday Expenses

The Diamond card is quite accurate and trustworthy, keeps your payments up to date, very convenient to anybody.

Commonwealth Diamond card covers all my Monthly schedule bills and most shopping as well. My air tickets and complementary travel insurance give an extra bonus.
I have used my card a few times at overseas outlets and it is very easy and convenient to use. I am really happy with the diamond card and always trust with confident.

Transparency
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Online Experience
Main Point of ContactOnline
Card / Account Used ForEveryday Expenses, Online Shopping, Overseas/Travel and Special Purchases

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.

Transparency
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Main Point of ContactPhone
Card / Account Used ForEveryday Expenses

Myer link up & free travel insurance are the best things going for it

This was a fantastic card when I got the MasterCard & Amex combo with my mortgage some years ago - no annual fees (I pay more than enough in mortgage interest & and an annual package fee!!), Amex purchases earned triple points, plus free insurances for international travel, purchase cover, extended warranties etc

However, the value started slipping when the Amex twin card was axed, points earned per $1 spent dropped and exchange rate for redeeming reward points deteriorated. Moreover, using the MasterCard overseas is expensive with a foreign transaction fee on top of the exchange fee. With Amex, there was only an exchange fee.

Apart from the free international insurances (thank God, I’ve never had to claim), the key benefits for me now is the ability to redeem points at Myer and FlightCentre without having to buy gift cards. I especially like the Myer option as I can use points during Myer sales and score a price discount plus Myer points.

If the Myer option is axed, I will most probably ditch this card as the annual fee has stayed at the same high level despite the removal of the Amex card component and an erosion of benefits.

Transparency
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Card / Account Used ForEveryday Expenses, Online Shopping, Overseas/Travel and Special Purchases

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 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.

Transparency
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Main Point of ContactPhone
Card / Account Used ForEveryday Expenses, Online Shopping and Overseas/Travel

Good credit card - does the job

I have used the card various times for purchasing flight tickets which came with free travel insurance, which was very handy but there are t&c's as ticket needs to be minimum spend. However, I wouldn't recommend for using overseas or making foreign currency purchases as exchange rate fees are quite excessive. I rather use my bankwest credit card which is free. When Commbank offered the amex linked to the diamond card, it was very good value as I accumulated points very quickly. The redemption points system use to be way better. It was good value for money to redeem gift cards as I tripled my points on each dollar spent. Given they have now removed the amex component, the points redemption system is not as good. It is taking me much longer to redeem points. They have also uplifted the amount of points required to redeem gift cards. When taking into account the yearly fee I spend on retaining the card versus how much value i get in redeeming points, it outweighs the cost. I am considering shopping around for a different card. however, i must say i was initially attracted to the points redemption on this card, thats why i took up the offer and had this card ever since for over 10 years now. I am now considering to shop around as the annual fee on the card is more expensive than others in the market.

Transparency
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Main Point of ContactPhone
Card / Account Used ForEveryday Expenses, Online Shopping and Overseas/Travel

Works well

Also received this card fee free with Amex offer. Very happy using it with Apple-pay on mobile. When used for o/s travel bookings, the free Travel Insurance is welcome, (have not claimed on it yet for any mishaps- that is the acid test). Did not use it for travel expenditure o/s as using the associated Travel Cash Card avoided hefty transaction fees. Reward points are fairly ordinary, but as the card is fee free, I can live with that and claim a gift card every now and then. Have had no issues with the service from the bank and Netbank is a very user friendly website for checking transactions online and fund transfers.

Transparency
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Online Experience
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Main Point of ContactOnline
Card / Account Used ForEveryday Expenses

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 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.

Rates and Fees
Rewards
Card Start DateDecember 2008
Card / Account Used ForEveryday Expenses

Evil necessity

Chose option forPoints to transfer straight to my qantas points instead of accumulating as Comm bank rewards points. We only use them for flights and accom when on holidays. The free international travel insurance works! Used twice now - once in Canada for a ski accident and then in the same year for a cancelled trip (thanks scenic #£€%¥!!!). Just make sure you have all the details and get medical reports etc for the claim; date and time stamped photos also help . Don’t use the card overseas though- international transaction and conversion fees are a killer. Get a travel card - everyone has them including commbank. Pretty happy with the card and pay it off in full every month so no charge. And it’s now connected to my Apple Pay which commbank finally signed up to this year - it’s great.

Transparency
Customer Service
Rates and Fees
Rewards
Online Experience
Card Start DateJanuary 2016
Main Point of ContactPhone
Card / Account Used ForEveryday Expenses, Online Shopping and Special Purchases

It's ok. Doesn't the job. But not great

This card was given to me for free since I have mortgage with Commonwealth. For frequent flyer, it's only 0.75 points per $1 spend. So not great, but since it's free annual fee it's ok.
The good thing about this card is the free international travel insurance. You don't have to use the card to purchase the flight. You just need to activate it. I think it's up to 10 people who travel with you is insured.


Not worth $395 Annual Fee now AMEX card to be removed

This used to be a good value card for people that had a high monthly spend. Not any more. CBA reduced the rewards points for the AMEX over the last few years, and are now removing the AMEX option completely on September 1, 2018. Reduced points, reduced cards....no reduction in annual fee. Their Diamond Awards Card is no longer a good option for high spend customers.


Accused my Doctor and myself of fraud.

I have travel insurance via my CBA Diamond credit card which is underwritten by Allianz. Recently had a severe bout of gastroenteritis and ended up in a country hospital emergency department. Although I was not admitted I was far to sick to travel two days later. Nor did I want to infect everyone on the way. I attended a GP on the due date of travel. This was not my usual GP as I could not get in there that day. Hence I had to go to the local "drop-in" GP service as I knew I would need a medical certificate. I am also a medical practitioner.
As part of the claim I needed another medical claim form filled out. Fair enough. I line up at the "drop-in" clinic again for two hours (taking time out of my serving the public patients I work for.) . Whilst waiting I filled out some of the form using the same words and dates as on the already submitted medical certificate. This form was checked and signed and stamped by the GP. But it has been rejected because some of the words were written by me. I explained that he signed it on the basis that it was all true information. They stated that it is not acceptable. I stated that you are accusing my GP and myself of fraud and they hesitated but basically agreed.
They want me to line up again for 2-3 hours to get him to write the same thing again!
This is all for a claim of just under $2000. I find their mistrust unethical and irresponsible.
I am severely disappointed that the Commonwealth Bank use this Insurance company as they do seem to give such bad service. I have spent alot of money with CBA and have been a loyal customer, yet they are using a terrible insurance company.

Good Credit card with your home loan.

Staff are very good to deal with, They even blocked my card one day because of my transaction history and sent me a text warning me that my card could have been stolen.Once they found it was me doing the transactions they unblocked it straight away. I high recommend this credit card and Bank.

Quite good overall

One of best day by day credit cards with rewards.
Customer service is above average and provide you extra follow up and info to suit your needs
mobile apps is superb compare to other big 3 banks


Good Credit Card but not suites me anymore

I've been using CBA credit cards for about 10 years. I always enjoyed CBA CC card service. But they have recently made change with AMEX reward points after 1st July 2017, the new rules only gives 0.5 points instead of 3 points on per $ spend on AMEX, which makes the deal is not that attractive with $395 annual fee. Furthermore, you must activate the international travel insurance on the netbank before you departure, otherwise the insurance does not cover the international medical cost (which make the insurance useless if you forget to activate). Still a good card, but it does not suite my needs any more.


I got my money back from the dispute team! But they took it away from me again!

I filed a dispute on a wedding gown that I bought locally. The gown had multiple defects (supposedly brand new off the rack at full-price) and seller was unwilling to refund or order a brand new gown. It was the worst business dealing I had. Thank god I remembered the complimentary merchandise protection that came with my card. After relentlessly submitting my evidence, I got all my money back! I almost gave up because even though Fair Trading believed I had a case, they could not convince the seller I was within my consumer rights to get refund. The seller even tell Fair Trading that if I do not pick up the defective gown from their store by this April, they will keep both money and gown. I asked fair trading if it is legally allowed since I have never signed such contract for the gown. Reply from Fair trading is appalling. They told me small private businesses can do what they like. She told me to present my case before the tribunal which is going to take forever!. Anyway, Commbank finalized my claim within 28 business day. Quite impressive, given that their website suggested up to 45 days for a decision. Right now, seller has up to 45 days to try to reverse the chargeback but apparently they will need to present hard evidence to convince credit card to reverse it. Shall keep you posted.

So, follow-up. Last week, $1200 was taken out from my credit card to return to the merchant's account because they said he presented some hard evidence. That decision was made within 4 days while mine took 1 month! After harrassing them multiple time to get a copy of seller's evidence, I finally received it. Literally, the seller only typed up his store policy in an email and that's it! Not even a scan copy of the physical copy of policy that they provide to customer for signature. Such as weak evidence was accepted. To add insult to my case, nothing in the policy mention anything about policy on defective dress!! That was all my case is about. That whole policy talks about process of ordering a dress, no refund or exchange for change of mind. No this and that.. I could have typed my own version of policy then!

Also, seller reiterate that he would keep my gown and my money if I did not pick up the dress by 31/3/17. That is not legal. It is clearly an unfair game - he expects me to abide by his store policy yet he is also allowed to add stuff as he goes along? I have never heard of such contract flexibility. Not fair.

The only reason I gave 2 star instead of 1 is because I am still waiting for the last resort to finalize - CBA customer relation. Hopefully they can review the whole case and decide. My case was handled by so many people that literally it was ruled against me with an inappropriate evidence provided by merchant. I think they need to improve training on dispute team.


Tripple rewards with your free Amex

The CBA gave me this card at no extra cost to my gold card but it has way more benefits. The concierge service is great with fantastic seat allocations, It gives free overseas travel insurance, additional warranty on products and accidental loss breakage or theft cover.
Bought my last car on it and for 3 months the rate was .99% its called a "great rate". I then work it with a HSBC zero balance transfer and my new car has not cost me a cent in interest for over 12 months and my $15000 has been parked in a offset account at 7.25% making me about $900
I pay my bill in full each month taking off the "great rate amount" and I never pay interest
Excellent benefits and good point system with tripple points when using the free amex


Great credit card.

I have had the CBA Gold Awards and more recently the CBA Platinum Awards and so far I am impressed with the CBA Diamond Awards. It's worth upgrading to this card if you go through $1100 a week on average with a CBA Card.

This card has a lot of features and the insurance deals are really good. You can earn 500k frequent flyer points a year by using this card. If you have a lot of dealings with the CBA then this could be the card for you however, there are better cards out in the market.
Acceptance with American Express and having a back up Mastercard.
The annual fee is around $400 - you really need to use this card a lot to make it work for you.

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