The latest product to join the Commonwealth Bank’s credit card stable is the Commonwealth Bank Diamond Awards Credit Card. As you may be able to tell from the name, it is a high-spenders card and the results from the Mozo Rewards Revealer clarify that.
The account has both a MasterCard and an American Express to increase the points-earning potential, however the earn rate has only been increased on the MasterCard with relation to the Commonwealth Bank’s Platinum Awards Credit Card. The MasterCard now earns 1.25 points for every dollar spent and the American Express earns 3 points per dollar. If you’re looking to transfer these points in to your Qantas account then you will be looking at 0.625 Qantas Frequent Flyer Points per dollar on the MasterCard, and 1.5 Qantas Frequent Flyer Points per dollar on the American Express.
Below I have included the results from the Mozo Rewards Revealer in a best case scenario, where all of your spending on the account is with the American Express.
$25,000 Annual Spend
$50,000 Annual Spend
$100,000 Annual Spend
$200,000 Annual Spend
The two cards that place above the Diamond Awards Credit Card in the $200,000 spend category are the Westpac Singapore Airlines Platinum card and the Westpac Altitude Platinum card. Points on the Singapore Airlines card go directly to the KrisFlyer program, making the card not so useful to consumers looking for flexibility. The rewards difference between Altitude Platinum and Diamond Awards is just $19, meaning the card is a true contender for your dollar after weighing up all other options and benefits associated with the cards.