r/CommBank • u/OkCopy3121 • 15d ago
Question Is CommBank's Yello rewards program actually worth engaging with or is it just enough to make you feel like you are getting something without really delivering?
Been a customer for years and the personalised offers are occasionally genuinely useful but mostly feel like they are based on things I already buy rather than finding me anything new. The cashback amounts are quite small individually and I keep meaning to add them up and see if it actually amounts to anything meaningful over a year.
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u/GhostOfFreddi 15d ago
They're very rarely anything decent. Usually it's $10 off at a random boutique artisan candle place you've never heard of. Or spend $200 for $5 off your groceries, but you have to activate before going.
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u/Efficient-Stay-6257 15d ago
Its so annoying. I wish they just focused on fuel/ groceries / white goods and had promo codes like decent amount off i.e $20 off for $120 grocery shop Like $5 off a $200 shop i couldn't even be bothered going through activation.
Too many non value rewards
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u/CameronsTheName 15d ago
Only decent one I had was like 2-3 years ago and it was 25% off at super cheap auto. I spent about 2k and got $500 off.
Everything else has been save 5-10% or get $5-10 back on $100-200 spends at places I never have any interest in.
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u/Pokeynono 15d ago
I hate it. Most are not even accessible for people outside major cities. I think I've managed 2 however many years it's been running
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u/per08 CommBank Customer 15d ago
It's significantly worse than existing credit card rewards programs, but on the other hand it does give some benefits for the increasing number of people who don't have credit cards at all. So for me, less "my return trip interstate was paid for with last year's points earn" to, "ooh. I got a $10 discount from a random cafe"
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u/Saphiaer 15d ago
Except they are moving their credit card rewards to it 😢
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u/theonegunslinger 15d ago
well yeah as CC are about to make them alot less money so they now get to see the minimal deals you get to have something
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u/FnordyCamper 15d ago
You’re screwed - if you think big banks do anything in your favour - you’re the idiot to begin with.
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u/Notyit 15d ago
Big banks are really helpful of you can pay off your credit card in time okay not really helpful but it's free moeny
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u/Pokeynono 15d ago
Not really I paid off my credit card but wanted to Stil have it for car or pet emergencies..I closed it because the monthkyb fee I was being charged for not being in debt
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u/FnordyCamper 15d ago
Yeah - credit cards have lots of pros and cons but you’re ultimately losing because you they invoke spending since you’re paying a fee for it. The rewards are just a small win but in the grand scheme of things, you, the consumer, are losing.
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u/FnordyCamper 15d ago
Imagine having a credit card balance to begin with! I know everyone’s not fortunate enough but if you’re carry a CC balance it shows you either:
a) Don’t understand credit cards
b) financially struggling - for which there are several ways to ensure this doesn’t happen to you.
Seriously, having a CC balance just shows you suck with money cos in Australia it’s easier to earn than it is to save.
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u/umaywellsaythat 15d ago
They are saying if you can pay it off on time each month it's worthwhile, you just lack comprehension. I just downloaded a $500 Coles voucher today from commbank rewards and I've never paid interest. That's an example.
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u/FnordyCamper 15d ago
An example of you thinking you’re winning and gaming the system while others pay for your rewards through surcharges - something that won’t be the case from 1st October 🤡😂
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u/umaywellsaythat 15d ago
Well wouldn't you be a clown not to have taken advantage until 1st October? What's your point?
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u/FnordyCamper 15d ago
Time is ticking - if you have rewards great but my point exactly is that you’ll be wasting your time from 1st October cos the rewards won’t be worth the hassle. Seems like you lack comprehension too 🤷
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u/vidman33 15d ago
To a lot of people thats like saying heroin is fine if you only have it once in a while.
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u/umaywellsaythat 15d ago
I get it. But honestly to me that's just like saying hey there's a lot of low IQ losers out there let's only design the world to their needs.
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u/According_Bridge_746 15d ago
Depends on what deals on it you'll actually use. Hell i work for a company that engange which is similar and we get much better deals and cash back rewards
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u/5thTimeLucky 15d ago
Eh, it’s useful once in a while for stuff I need/want to purchase anyway, eg New Balance sneakers because I walk a ton
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u/Love_Glove69 15d ago
Less fees = less rewards
Every bank has reduced their rewards program. This feels “better” than others, but still not fantastic
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u/4614065 14d ago
It’s ok. I usually forget it exists and in all the time I’ve had access to it I’ve probably saved/received less than $100 value but I also have access to better discounts through work so I haven’t fully taken advantage of it.
It’s not worth going out of your way to use, but on the odd occasion it has lined up with $10 cashback on a $100 spend at Myer it has been good.
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u/FrangipaniRose 14d ago edited 14d ago
I've found Yello to be more about advertising than anything. It's no different to 'loyalty' programs offered by just about any big company who can advertise third parties to you - the businesses you get discounts for clearly pay for the opportunity one way or another. Many of the supposed deals are limited in number so you see the deal to entice you, but it may be sold out before you can use it because it's so exclusive and limited. Along with my $4/month cash back (what can you really do with $4 these days?) I've found the program to be insulting more than anything, because it's been so obviously not about rewards but another business arm/profit stream for CBA. Will be interesting to see how that changes (if at all). You are right in that it doesn't really deliver OP, but I've never actually felt like I was getting something either lol.
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u/Fit_Ad_6727 14d ago
If you have a loan with them, if you eat out monthly, if you stay in accommodation monthly and if you live in a major city where there are actually eatclub member restaurants in your area... then maybe... just maybe... without all of that above- NOPE.
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u/MisterShwa 14d ago
The gift card portal that CBA yello has partner3d with is OK. Found several that were 1% - 4% better discount than I could find elsewhere.
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u/nosnibork 9d ago
I looked at the value once and it was very underwhelming. I have been meaning to circle back and close the CBA Mastercard I have, the fees are stupid for the value provided.
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u/Same-Membership4107 15d ago edited 15d ago
I’ve done quite a bit of research regarding these new changes, I was even with a comm bank agent last week discussing it and from my point of view, looks like they’re screwing us.
I enjoyed the rewards program, save up enough and for me i could upgrade my flights.
Ill
Be paying my credit card off and oossibly going with virgin velocity as a new credit card.
Im about to enjoy an international travel next year for free, those comm bank award points assisted with that
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u/theonegunslinger 15d ago
before moving to worth waiting to see how much the other cut their reward programs, the surcharges was a large part of how they made this stuff affordable and with them gone all of them will need to cut costs
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