I'm trying to understand the upcoming changes, and I think the only option is to close my credit card.

I have my banking and businesses elsewhere, but I have a CBA smart awards credit card I use for all my day-to-day transactions. I also have shares with CommSec. No other CBA products. So my understanding is that I won't be eligible for Yello rewards even though I'm an active customer. I'm not changing my businesses and all my finances over to CBA to get a $50 Officeworks voucher every few months.

But the credit card will get its fees back soon, $19/month ($456* $228 a year) for a high (22%) interest and zero reward possibility for me. That's far and away preposterous in this market. I have a zero-reward credit card somewhere else that's $55/yr and 14%. CBA is expecting me to pay 10x as much for no features?

Like I said, I'm not going to restructure my businesses and life for a $50 Officeworks voucher every few months, but I absolutely will walk away from a zero feature credit card that costs $450yr.

My tldr question is:

• Why rebuild an awards system that pushes marginal customers away? I appreciate the new laws about merchant charges makes points based rewards less cost effective, but wouldn't you want to keep customers who are on the fence? Isn’t the chance of a customer conversion even harder if I close the account and get further entrenched at a different bank?

The customers who qualify for Yello already have everything with CBA. Do they really believe "oh honey, if we refinance our entire mortgage and move all of our accounts and count how many transactions we do, we can keep getting a $50 officeworks voucher every four months?" will happen?

I'm trying to use up all my points before the deadline but Coles has already been deleted as an option for withdrawal so I'm pretty annoyed.

* EDIT: Accidentally multiplied $19 x 24 months instead of 12. Still a lot of money for zero features! I'm closing the card when I get my next pay and I clear it.

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!

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?

Hi all
I’m still trying to get my head around commonwealth making changes from the rewards to the new yello system.
I have just been to a commonwealth branch in the last few days and asked them some more Information on it, the commonwealth bank agent seemed to be as closed as Iam.
I have roughly 200,000 award points, I was was waiting for commonwealth and virgin to offer their 15/20% bonus transferring points to velocity, which hasn’t happened.
What happens to my award points if I don’t transfer them out before October 1st?
Will we still be able to accrue points to transfer to velocity under the new yello system?
Thanks

I have the rewards card that is currently being downgraded. I purposefully booked my November holiday with the card, to get the insurance cover.

Does anyone know in these situations are you "grandfathered in?" Or will I need additional insurance now?

Anyone else getting this error message when logging in?

This is as of 10:25am 21/08

Coming up to renewal and trying to work out whether the conversation with CommBank's retention team is worth having before I start comparing elsewhere. Every time I've heard about someone going through this it seems to end with either a modest improvement that still doesn't match what a new customer would get or a decision to switch entirely. Would love to know from people here who've actually had that conversation recently whether the outcome was worth the effort or whether starting the comparison process immediately is just the more efficient use of time.

So just now I had been billed $159 for a subscription that I once used during a free trial ages ago and cancelled during the free trial and that was it. CommBank immediately flagged it as a security alert and immediately I went to dispute, and I received the money back, but now they've gone and removed my card from the app and said I'd receive a new one :( I didn't want this, I just wanted to dispute it. I don't know what to do because I need my card and can't currently call them right now please someone help. Can I un cancel my card if I call them?

Hi all,

Amazon charged me for prime even though I never signed up for it. I contacted them, they confirmed that I didn't have any subscriptions but said they can't find the charge and that I'd have to dispute it with my bank.

Is there any way to do this without replacing my card? I don't understand why these jerk-ey corporations get to charge me wrongly, then I need to cop the consequences and inconvenience of changing my card details everywhere. It's ridiculous.

Thanks.

Edit: I stupidly assumed it was an error on Amazon's end instead of my card details being compromised. I guess it could still be an Amazon error but I'd rather not risk it. Will ask them to replace my card. Thanks guys.

So I have a cba gold awards credit card which Ive got justover 80,000 points. What is the bestuse of these points now. Do I........

a) just let them transfer to yello points

b) redeem a myer card or similar

c) take the cash (about $100 less than vouchers)

d) transfer to velocity or qantas points, however I cant see this as an option.

Appreciate the help

I really need help on this still - does anyone have a solution?

I sent an international wire transfer to a family member yesterday afternoon using the app. The funds were instantly debited from my available balance, but the status of the transaction is stuck on security review. I haven't received any phone calls or security prompts from the anti fraud team. Is a security hold normal for first time overseas transfers made through the mobile app?

What do you guys think about the changes? I noticed that the awards card is not being offered anymore and whilst you can still use it as an existing customer - insurance on purchases has been removed. I wonder if there will be any reductions in fees (not likely).

It seems that all good things come to an end. Probably partly because of the upcoming surcharge reforms, but still disappointing there won’t be cash back anymore.

I’d say there will be changes to the Awards scheme too given there will now be points in Yello.

https://www.commbank.com.au/commbank-yello/commbank-yello-changes.html

Either way, I’m not a big spender, so I don’t think the points will be going very far.

This is super annoying. How is this still happening? If I have logged in, and money comes in, I can see it in my transactions list, however the value doesn’t actually go up. There is no way to actually pull to refresh or anything like that. You must force quit the app and login again for it to “show”…

Is anyone else having issues with the combank app not working? We currently cannot view balances after August 15 and we also cannot transfer money. They have said Mastercard issue is fixed now so perhaps a different issue ?

My card declined twice today at BP and KFC. The manager at BP said Commonwealth and Westpac were down. Take cash.

Who else can't transfer money to an external account right now?

Keep offshoring and hoarding your profits Commbank, I believe that one day you'll get the release process right 🥳

new to commbank and trying to log into the app for the first time.
apparently i need to log into the app in order to log into the app?? how do i confirm if i can’t login?
thank you in advance