The Commonwealth Bank has updated its offer of 40,000 Qantas Points for new cardholders of its Platinum Awards credit card.
As an added bonus, for people taking up the offer, an annual fee waiver is on offer, saving $249 in the first year. Having said that, there is still a $10 annual fee for opting in to the Qantas Frequent Flyer Direct program. Note that the $10 annual optin fee is increasing to $30 per year in November.
This opt in is required in order to earn Qantas Points with the Platinum Awards card.
The basics of this offer are:
- Apply online for a new CommBank Platinum Awards credit card by 5 December 2015
- and spend at least $500 on eligible purchases using your new card by 5 February 2016.
- Plus, no annual fee in the first year^ on the Platinum Awards card (saving of $249).
- A $10 annual Qantas Frequent Flyer Direct opt-in fee does apply (increasing th $30 per annum on 2 November 2015) .
Ongoing points earning
Outside to 40,000 points bonus, points are earned when making eligible spending on the card. Overall, the account has a capped earning of 100,000 Qantas Points per year.
The ongoing earning rate for the account starts at 1.25 Qantas Points per dollar spend on the American Express card, and 0.5 Qantas Points per dollar when spending on the Mastercard.
After having earned 60,000 Qantas Points in a year, the earning rate on the American Express card drops down the same earning as the Mastercard – 0.5 Qantas Points per dollar. Finally, once 100,000 Qantas Points has been earned in a year, the earning on the account cuts out altogether.
Also, it is worth noting that the Commonwealth Bank recently announced that is was going to cease paying award points for spend at the Australian Tax Office, as from November 2.
Being a platinum level card, the account comes with a range of included insurance policies, including compliemntary travel insurance. As always, with insurance covers you should check the PDS to ensure that the insurances meet your need, and that you meet any of the requirements for the cover to take effect.
If you wish to take advantage of this offer, you’ll need to apply through the promotion page that Commonwealth Bank has set up.