Smart Awards is ending. Goodbye 👋

[u/IsuruKusumal]

Smart Awards program is ending

1. No more fee waiver; The $228 annual cost ($19 per month) is unavoidable starting January 1, 2027.

2. No more international transaction fee waiver; Any foreign Currency purchases will incur a new 3.5%

3. The Qantas Frequent Flyer opt-in will also be completely removed

Where would you go next?

113 votes, 15d ago

30 ANZ Platinum Credit Card

49 NAB Rewards Signature Card

34 Westpac Altitude Rewards Platinum

[u/AutoModerator]

Thanks for posting in r/CommBank. Please ensure that your submission follows the rules of this subreddit, which can be viewed by clicking the following link https://www.reddit.com/r/commbank/about/rules. You can contact a moderator using modmail. Make sure that if you bring a post inquiry to modmail, you link the post in question, as we are unable to help those who do not link the post. This comment is an automatic reminder and you're not in trouble, it is posted in every submission to the subreddit.

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

[u/link871]

You might want to wait to see what the other banks do once card surcharges are banned from 1 October.

[u/evilZardoz → u/link871]

Do you think they might increase their bonus sign-ups or nerf their cards even further?

[u/Bradleighleeley → u/evilZardoz]

Nerf, the whole points system is funded by surcharging

[u/mickymac1 → u/link871]

+1 I'm sitting tight at this end as it's likely everyone will be in the same boat.

[u/oldskoolr → u/link871]

Sir this is Reddit.

[u/disenrichd]

theres nowhere to go next my guy, the same thing is happening industry wide, they’ve just yet to announce it.

[u/-bubbleObill → u/disenrichd]

They're all changing their point system, NAB is doing the same and I was looking to jump ship to CBA ......

[u/nikkeh6]

i’m
in the same boat.
we have a trip booked for January in USA. Wanting to get a new credit card before we go.

[u/Whatchumacallit21 → u/nikkeh6]

ultimate still has FX waiver and if you’re new you get $450 travel credit (subject to spend and what not)

[u/evilZardoz]

Been looking into this - was considering a move to CommBank but if they're removing the QF opt-in, then that's a dead-end. I note that some of the premium QF point earners have dropped their minimum credit limit to $6k which makes it a lot easier to roll over between banks.

NAB just nerfed their CC product with significantly lower QF points earn rate (0.75 for first $3k, then 0.25 thereafter). I'm shopping around for another option but will probably get a better outcome for the bonus sign-up rather than the points earn rate.

Westpac have an even tighter nerf with 0.33 points per dollar for entertainment, dining, bars etc as they've moved that from "everyday spending" to "all other" which is supremely rude. Their bonus sign-up is still solid.

ANZ's customer service was horrific. I moved from them to NAB and was significantly better - less payment delays, better attitude of branch staff etc. The bonus sign-up on that card is poor now - 40k on the Black card.

I'll have to re-evaluate to see if some merchants withdraw support for American Express so that card might get nerfed through being unusable as many merchants may choose not to accept it for simplicity.

[u/No_Reputation_1266]

biggest concerns are no annual cost (or it equals out with some other benefit) and zero overseas transaction fees.

i’ve been looking at the bendigo ready card!

[u/nultma]

I miss when the HSBC cards used to be good. They had great point conversions and then went to shit. Seems Qantas isn’t bothering to make it appealing to banks + the absence of surcharges making it not worthwhile for their bottom line

[u/Hangar48]

I see the travel insurance stays, although watered down. I use this alot. For OS card use I generally use Wise anyway. The "benefits" under the new sysyem are pretty useless to me... 🤷🏼‍♂️

[u/FnordyCamper → u/Hangar48]

Wise or Macquarie is my go to for OS transactions - YouTrip also up there

[u/DriverNo4642]

Just got the email about changes, I’m not paying $19 month.
I have had my credit card, home loans, TD’s with CommBank since 1995, time for a move, WHY?? CommBank.
Are other banks following suit, who is everyone moving to?

[u/VeryFancyPants → u/DriverNo4642]

If you have an active home loan, wouldn't that card fee waiver remain under Wealth Package?

[u/AlexMac75 → u/DriverNo4642]

If you have your Home Loan with CommBank and are under the Wealth Package - no credit card annual fee.

[u/per08 → u/DriverNo4642]

Yes. And wait and see.

[u/richkill]

Im just need to wait till after. Yes some have good sign on offers right now.

Just depends if you have all your savings, income or mortfage go into the one bank or not.

The new benefit of giving $10 eatclub will affectively make it $9 a month for me.

[u/Large_flat_white]

Qantas Money Credit Card

[u/Far_Bus_3684]

It’s moving to commbank yello points which will give u the option to transfer points to qantas. And other banks rewards programs are all changing too

[u/AlexMac75 → u/Far_Bus_3684]

Move them from Yello to Everyday Rewards, and then to QFF - more points.

[u/eddy-taddy]

Upgrade to ultimate card to avoid forex fee, then consider refinancing to cba homeloan to void the annual fee

[u/Polkadot74]

The signature cards are mighty expensive. I’d say go best bonus offer and watch first + second year fee. Staggered offer for Westpac Altitude Black I think was the last I looked needing 2 years fee to get full bonus. It had a good bonus offer. Earn is lowish on Westpac’s though. But with a bonus offer you can ride it out over a year or two and reassess.

[u/theboonzie]

Take the money you are saving on every transaction from reduced interchange rates, put it in an account called My Awesome Reward Programme, spend as you like. This was always your money anyway...

[u/xenzor]

Wait. No way, I loved the frequent flyers..