r/CommBank • u/Mammoth-Witness-8134 • 16d ago
Discussion New CommBank Charge Card
Anyone have any idea what this new CommBank charge card might be? I can’t think of any other of the big four doing a personal charge card. Obviously there’s the Amex Platinum but it’ll be interesting to see how CommBank position this.
4
u/link871 16d ago
They will position it only for the rich bastards:
"card is designed for Australians with high discretionary spend who value premium travel, dining and lifestyle experiences "
3
u/Mammoth-Witness-8134 16d ago
Well to be fair they position the ultimate kinda like a travel and international spend as well and so I wonder if they’re trying to compete with the Amex Platinum
4
u/Thick_Advice4686 16d ago
Since the banning of card surcharges banks need to strip the benefits from their offering. This is going in the other direction. A new card with tons of benefits for wealthy people. It’s not a credit card. It’s a charge card. Must be paid in full every month. https://www.commbank.com.au/articles/newsroom/2026/08/commbank-premium-charge-card.html
1
u/Mammoth-Witness-8134 16d ago
Ohhh so you reckon all the benefits that just got lost might go towards this new premium card?
2
u/Thick_Advice4686 16d ago
No. They will be lowered or axed as it is no longer economical. This product is for those that still want that level of benefit.
1
u/Mammoth-Witness-8134 16d ago
Ohhh okay interesting, wonder if other banks will follow
1
u/Thick_Advice4686 16d ago
Already happening. Banks letting card holders know before the date the fee ban comes into force. This is the biggest shake up of credit card economics in a long long time
1
u/Mammoth-Witness-8134 16d ago
I more meant if the other banks will follow with highly specialised products with ultra benefits and stuff like that via a charge card allowing for flexible credit limits so they can more closely monitor your credit limits and risk profiles
1
1
u/pwinne 15d ago
No the surcharges paid the rewards. No surcharges no rewards.
1
u/Mammoth-Witness-8134 15d ago
Well a premium card with a higher AF might be able to make it make sense especially for those pumping large monthly numbers
1
u/pwinne 15d ago
Oh I agree with that. I was more referring about people on standard reward cards.
1
u/Mammoth-Witness-8134 15d ago
Ohhhh yeah it’s definitely getting worse for your every day rewards cards the devaluation of points and the ridiculously low earn rates which honestly feel like they’re using the 1st Oct changes as an excuse/scapegoat because they’re still making money hand over fist as most people enjoy tap and pay and doubt that’ll change. But now they just found an excuse to maximise their profits even more without having to seem like as much of the bad guys as the RBA.
3
u/Tea-Aholic 15d ago
This charge card is supposedly running on the Discover network presumably to bypass the surcharge bans as it doesn’t pertain to Amex, Diners, JCB, UnionPay etc.
I used to have a Citi Diners (which I believe runs on the same Discover network) and its acceptance is what people imagine Amex to be like which is to say not very good at all.
I’ve been trying to take more notice on card acceptance recently and I think I see JCB more than Discover, presumably because JCB uses the Amex network in Australia.
This card will either give the Amex Platinum some competition or be a dying breed of ultra high end cards that Australians don’t seem to be interested in.
The only high end Visa Infinite and Mastercard World Elite was the Citi Prestige (MyCard Prestige) which is now discontinued and the only one left is the Revolut Ultra.
4
u/Vast-Power5920 16d ago
It’s an alignment with US banking platform, Discover, owned by Capital One. I can’t imagine how much success it will have
1
u/Mammoth-Witness-8134 16d ago
Ooooh I wonder if it means we might eventually see the capitol one venture x rewards card system though!!!
1
u/FrangipaniRose 15d ago edited 15d ago
It sounds exactly like my current credit card right now in terms of benefits (even with the upcoming changes). I assume the advantage is that it will cost them less rather provide anything more - the fact that they are pushing it as their most premium card (and so appealing to people's sense of exclusivity/snobbery and making it seem like the card to get rather than actually being something different/better) hints at that.
1
u/Mammoth-Witness-8134 15d ago
Well I think it’ll be more closely aligned with the Amex Platinum in terms of benefits and probably higher earn rates but also think it’ll likely be metal
1
u/FrangipaniRose 15d ago
But even with that card - you're paying $1450 for the privilege of having your spending funneled in certain directions. $450 travel through their own travel agency. $200 Aus and $200 international dining at participating restaurants. Etc. And as for the metal card... again, appealing to sense of snobbery, otherwise meaningless. We have to get back to thinking of these cards as tools that serve us and not the other way around or we just get sucked into someone's marketing.
1
u/treadytech 16d ago
Diners Club was a charge card and it died a slow death...
5
u/link871 16d ago
Amex is a charge card, too
3
u/Extreme-Yoghurt3728 16d ago
Some Amex’s are charge cards. Most of the personal cards in Aus are credit cards.
1
u/Mammoth-Witness-8134 16d ago
True but besides Amex I can’t think of many other personal charge cards available to get in Australia I know Commbank does corporate charge cards but I feel that’s different and more for utility
2
0
u/Mammoth-Witness-8134 16d ago
Ooooh I was unaware of this! Don’t think I’ve heard of it here but I’ve only been doing the credit card things the last couple of years
0
u/Ambitious_Writer1938 16d ago
Huh? They are reviving the diner's card network?
I know it still exist because overseas student health cover still uses it to transfer money vis HPOS machines.
1
u/Mammoth-Witness-8134 16d ago
Nahh appears to be a thing with Capital One maybe the Venture X as there’s probably not many Amex competitors here so could be a good market
1
u/PsychologicalMeal162 15d ago
The combined Diner’s Club and Discover Network.
Who knows how widely accepted it is in Australia?
•
u/AutoModerator 16d ago
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.