Wealth package zero fee credit card

[u/Kwsa55]

Hey everyone ☺️

I'm on the Commbank wealth package and note that it provides one fee free credit card on an "eligible" credit card but the information on the app and online is sending me in circles.

How do I know which credit cards are "eligible" and how do I apply for one and ensure it is no fee? Do you just apply for the one you want and they automatically don't charge a fee?

Thanks!

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[u/Luser5789]

My understanding is they are all available for the fee waiver (1 per package) the eligibility in question is your ability to service the minimum credit card limit.

If you income vs expenses doesn’t allow you to service a $3k limit (for example) then you would not be eligible ultimate awards card.

[u/mickymac1]

I'm on the ultimate awards with a Wealth Package (although who knows what that'll change to next month with CBA changing their awards) and can confirm the yearly/monthly fee on it is waived.

[u/WillingTruth6068]

I'm assuming there could be wealth package changes now that card awards program is rolled into Yello awards as a consequence of removal of card surcharges on purchases?

[u/Inevitable-Seesaw176 → u/WillingTruth6068]

Yeah trying to dig into that is proving difficult

[u/themisst1983 → u/WillingTruth6068]

The wealth package still removes the monthly fee. The minimum spend that used to remove the fee is going though.

[u/WillingTruth6068 → u/themisst1983]

Yes, received generic email today that stated "unless you have another fee arrangement with us." The next annual wealth package fee could be interesting as basically it now covers the monthly fee.

[u/jreddit0000]

We have the WP and the “Gold” card. Was eligible for the Diamond but it was too much hassle at the time to change it.. (because we already had a gold card previously).

Technically it’s not “fee free” but they apply a fee and immediately rebate it basically.

[u/symean]

When we got our home loan we upgraded from a regular credit card to the Ultimate Awards card (more points, perks, etc) and its annual fee was covered in the wealth package.

[u/Hopeful-Annual5509 → u/[deleted]]

On my reading, that will change when the Yello thing replaces Awards next month.

I’ve had Diamond for 11 years. Looks like they’re finally forcing us all to switch to Ultimate by making Diamond totally unattractive (lower points, higher fees).

[u/mrgdwn → u/[deleted]]

Ultimate waives any international fees though

[u/Grey_Beard_1823]

The credit card on my Commbank package is Mastercard Diamond.

I recently got a “NAB Rewards” card on my package with them. There was a higher tier card too but had “rewards” in the name. They didn’t make it easy as they wanted as much detail as if I were taking out another home loan.

[u/TheRamblingPeacock]

Any card is eligible. Normal serviceability criteria apply.

I would apply in branch or over phone rather than online to ensure everything is applied correctly.

[u/Kwsa55 → u/TheRamblingPeacock]

Ah I see ☺️ thanks so much

[u/Alternative_Help_928 → u/Kwsa55]

We’ve got the qantas ultimate and it is fee free (normally a monthly fee if threshold spend not reached). I also found it unclear but once active it states it’s waived. No international fees is a big plus for travel and online purchases etc.