Commonwealth Bank Diamond Awards Credit Card

Purchase Rate

20.24 %
p.a.
Cash Advance Rate
21.24% p.a.
Interest Free
Up to 55 days
Annual Fee
$349.00
Balance Transfer Rate
5.99% p.a.
for first 5 months
  • A credit card that rewards your everyday spend, where you can earn up to 1 million points per year with the added benefit of international travel insurance.
  • No expiry on points earned
  • Redeem exclusively in-store at Myer and Flight Centre or choose from over 1,000 items on the Awards site - including Gift Cards, electronics, appliances, cash back and much more

Card Details

Rewards Program Overseas ATM Availability
Insurance Cover for Purchases Automatic Travel Insurance

Rewards Program

  • Earn 1.25 Awards points for every dollar you spend on your Mastercard
Rewards Points per Dollar 3 Linked to Frequent Flyer
Spend to Redeem $100 Gift Card* $5,800.00 Frequent Flyer Ratio 0.5
Spend at Loyalty Partner for $100 Gift Card* SPEND FOR SYD/MEL RETURN* $16,667.00
Lifetime of Points  
Rewards Program Partners Flight Centre, ACP Magshop, Adairs, Bob Jane T-Marts, Caltex, Cellarmasters, Conrad Jupiters, Conrad Treasury, Crown Promenade Hotel, Crown Towers, David Jones, Dreamworld, efragrance, Fruit Only, Hoyts, Marque Hotels, Napoleon Perdis Cosmetics, Prouds The Jewellers, Red Balloon Days, Rendezvous Hotels, Roses Only, Sanity, Showbiz Box Office, Sony Style, Strandbags, Sydney Aquarium, Sydney Wildlife World, Thrifty, Travelodge Hotels, Travel Plus, Village Cinema's, Warner Village Theme Parks, WhiteWater World.
Rewards Bonus Points Partners ACP Magshop, Adairs, Bob Jane T-Mart, Cellarmasters, Conrad Jupiters, Conrad Treasury, Crown Promenade Hotel, Crown Towers, Dreamworld, efragrance, Fruit Only, Hoyts, Marque Hotels, Napoleon Perdis Cosmetics, Prouds The Jewellers, Red Balloon Days, Rendezvous Hotels, Roses Only, Sanity, Showbiz Box Office, Sony Style, Strandbags, Sydney Aquarium, Sydney Wildlife World, Thrifty ,Travelodge Hotels, Travel Plus, Village Cinema's, Warner Village Theme Parks, WhiteWater World.
Domestic Airlines Qantas Frequent Flyer Velocity Rewards
International Airlines
Conditions Awards Points are Evergreen. Though conditions apply re: closed, fraudulent and delinquent accounts. Points expire 3 months after account is closed.
Terms & Conditions
Applications are subject to credit approval. Full Conditions of Use will be included in our Letter of Offer. Fees and charges are payable. Mastercard® is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. Commonwealth Bank of Australia ABN 48 123 123 124, Australian credit licence 234945. 1 The earning and redemption of CommBank Awards points are subject to the Commonwealth (CommBank) Awards Program Terms & Conditions, available here. Points are earned on eligible transactions (excludes for example BPAY transactions, cash advances, balance transfers and payments to the Australian Taxation Office unless made using a Business Awards card) and are subject to points capping. Awards and the number of points required for Awards are subject to change at any time without notice. Customers opted in to Qantas Frequent Flyer Direct can earn up to 1,000,000 Awards points per year which is equal to 400,000 Qantas Points. To opt in to Qantas Frequent Flyer Direct, call 13 1661 or visit the Awards website Redeem Travel page. There is a $30 annual fee charged for opting in. Once a customer has opted in to Qantas Frequent Flyer Direct, all CommBank Awards points earned after opting in will be automatically redeemed for Qantas Points and transferred monthly to their Qantas Frequent Flyer account at the applicable conversion rate. It is important to note that any CommBank Awards points earned prior to the date of your opt-in cannot be transferred to your Qantas Frequent Flyer account. You must be a member of the Qantas Frequent Flyer program to earn and redeem Qantas Points. A joining fee may apply. Membership and the earning and redemption of points are subject to the Qantas Frequent Flyer program terms and conditions. Further information on the Qantas Frequent Flyer program including the terms and conditions of the program are available at qantas.com/terms or by calling 13 11 31. 2 Travel insurance included on your credit card provides cover for you, your spouse and your accompanied children for return trips from Australia, up to a set period. You will need to activate your travel insurance for each trip in order to have a comprehensive level of cover. To activate your cover, register on Netbank, the CommBank app or call Cover-More on 1300 467 951 before you travel. If you don’t activate you’ll receive Base medical which includes personal liability cover and unlimited overseas emergency medical assistance and hospital expenses only. Restrictions, exclusions (including for pre-existing medical conditions and persons aged 80 years or over), limits, sub-limits and excesses apply. Before making a decision, refer to the Credit Card Insurances Product Disclosure Statement and Information Booklet for full conditions. Insurance issued and administered by Cover-More Insurance Services Pty Ltd (AFSL 241713, ABN 95 003 114 145) on behalf of the insurer Zurich Australian Insurance Limited (AFSL 232507, ABN 13 000 296 640) for Commonwealth Bank of Australia. If you purchase an Upgrade Policy, we receive a commission which is a percentage of your premium - ask us for more details before we provide you with any services on this product.including for pre-existing medical conditions and persons aged 80 years or over), limits and excesses may apply to all insurances. More information and the relevant Credit Card Insurances Product Disclosure Statement and Information Booklet can be found here. 3 Source: DBM Consultants, customers 18+ with a rewards/loyalty card in the 12 months to August 2018. 4 Mastercard Traveler Rewards are only available through participating merchants outside Australia. To receive the advertised cashback, pay with your Diamond Awards Mastercard at a participating overseas merchant and meet the offer’s terms and conditions. You must pay in the overseas currency of the offer – transactions made in Australian dollars are not eligible. An international transaction fee will apply. Cashbacks may take up to 30 days to appear on your statement. Visit www.mastercard.com/travelerrewards for a list of participating merchants and to find out more. 5 A maximum charge of $300 or a flat fee of $3.00 applies if your closing balance on previous business day was in credit). Mastercard and Priceless are registered trademarks, and the circles design is a trademark of Mastercard International Incorporated.

* For cards with reward programs that allow you to earn points, unless otherwise noted, the best case scenario of everyday spending is used when calculating the spend required to earn a reward. Everyday spending does not include bonus points that may be earned by shopping with loyalty partners. For rewards programs that have monthly caps, we assume you stay under that cap and for products with two cards, we assume spending is with the highest earning card. For programs that allow you to convert points for air travel at a price that changes from day to day, we have assumed that the flight is $300 (taxes and charges inclusive).

Visa® is a registered trademark of Visa International Services Association.
The MasterCard® brand is a registered trademark of MasterCard International Incorporated.

Commonwealth Bank Diamond Awards Credit Card

Purchase Rate 20.24 % p.a.
Cash Advance Rate 21.24% p.a.
Interest Free Up to 55 days
Annual Fee $349.00
Balance Transfer Rate 5.99 % p.a. for first 5 months

Top Features

  • A credit card that rewards your everyday spend, where you can earn up to 1 million points per year with the added benefit of international travel insurance.
  • No expiry on points earned
Show More Top Features

More Information

Rewards Program
Overseas ATM Availability
Insurance Cover for Purchases
Automatic Travel Insurance
Rewards Points per Dollar 3
Linked to Frequent Flyer
Spend to Redeem $100 Gift Card* $5,800.00
Frequent Flyer Ratio 0.5
Spend at Loyalty Partner for $100 Gift Card*
SPEND FOR SYD/MEL RETURN* $16,667.00
Lifetime of Points  
Rewards Program Partners Flight Centre, ACP Magshop, Adairs, Bob Jane T-Marts, Caltex, Cellarmasters, Conrad Jupiters, Conrad Treasury, Crown Promenade Hotel, Crown Towers, David Jones, Dreamworld, efragrance, Fruit Only, Hoyts, Marque Hotels, Napoleon Perdis Cosmetics, Prouds The Jewellers, Red Balloon Days, Rendezvous Hotels, Roses Only, Sanity, Showbiz Box Office, Sony Style, Strandbags, Sydney Aquarium, Sydney Wildlife World, Thrifty, Travelodge Hotels, Travel Plus, Village Cinema's, Warner Village Theme Parks, WhiteWater World.
Rewards Bonus Points Partners ACP Magshop, Adairs, Bob Jane T-Mart, Cellarmasters, Conrad Jupiters, Conrad Treasury, Crown Promenade Hotel, Crown Towers, Dreamworld, efragrance, Fruit Only, Hoyts, Marque Hotels, Napoleon Perdis Cosmetics, Prouds The Jewellers, Red Balloon Days, Rendezvous Hotels, Roses Only, Sanity, Showbiz Box Office, Sony Style, Strandbags, Sydney Aquarium, Sydney Wildlife World, Thrifty ,Travelodge Hotels, Travel Plus, Village Cinema's, Warner Village Theme Parks, WhiteWater World.
Domestic Airlines Qantas Frequent Flyer Velocity Rewards
International Airlines
Conditions Awards Points are Evergreen. Though conditions apply re: closed, fraudulent and delinquent accounts. Points expire 3 months after account is closed.
Annual Fee $349.00
Minimum Repayment Greater of 2% or $25.00
Annual Fee First Year $349.00
Interest Charged From PurchaseDate
Rewards Joining Fee $0.00
Late Payment Fee $20.00
Supplementary Card Fee $15.00
Duplicate Statement Fee $7.00
Overseas ATM Balance Fee $1.25
Transaction Verification Fee $0.00
Overseas ATM Withdrawal Fee $4.00
Over Limit Fee $0.00
Overseas Emergency Card Replacement Fee $20.00
Terms & Conditions

Applications are subject to credit approval. Full Conditions of Use will be included in our Letter of Offer. Fees and charges are payable. Mastercard® is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. Commonwealth Bank of Australia ABN 48 123 123 124, Australian credit licence 234945. 1 The earning and redemption of CommBank Awards points are subject to the Commonwealth (CommBank) Awards Program Terms & Conditions, available here. Points are earned on eligible transactions (excludes for example BPAY transactions, cash advances, balance transfers and payments to the Australian Taxation Office unless made using a Business Awards card) and are subject to points capping. Awards and the number of points required for Awards are subject to change at any time without notice. Customers opted in to Qantas Frequent Flyer Direct can earn up to 1,000,000 Awards points per year which is equal to 400,000 Qantas Points. To opt in to Qantas Frequent Flyer Direct, call 13 1661 or visit the Awards website Redeem Travel page. There is a $30 annual fee charged for opting in. Once a customer has opted in to Qantas Frequent Flyer Direct, all CommBank Awards points earned after opting in will be automatically redeemed for Qantas Points and transferred monthly to their Qantas Frequent Flyer account at the applicable conversion rate. It is important to note that any CommBank Awards points earned prior to the date of your opt-in cannot be transferred to your Qantas Frequent Flyer account. You must be a member of the Qantas Frequent Flyer program to earn and redeem Qantas Points. A joining fee may apply. Membership and the earning and redemption of points are subject to the Qantas Frequent Flyer program terms and conditions. Further information on the Qantas Frequent Flyer program including the terms and conditions of the program are available at qantas.com/terms or by calling 13 11 31. 2 Travel insurance included on your credit card provides cover for you, your spouse and your accompanied children for return trips from Australia, up to a set period. You will need to activate your travel insurance for each trip in order to have a comprehensive level of cover. To activate your cover, register on Netbank, the CommBank app or call Cover-More on 1300 467 951 before you travel. If you don’t activate you’ll receive Base medical which includes personal liability cover and unlimited overseas emergency medical assistance and hospital expenses only. Restrictions, exclusions (including for pre-existing medical conditions and persons aged 80 years or over), limits, sub-limits and excesses apply. Before making a decision, refer to the Credit Card Insurances Product Disclosure Statement and Information Booklet for full conditions. Insurance issued and administered by Cover-More Insurance Services Pty Ltd (AFSL 241713, ABN 95 003 114 145) on behalf of the insurer Zurich Australian Insurance Limited (AFSL 232507, ABN 13 000 296 640) for Commonwealth Bank of Australia. If you purchase an Upgrade Policy, we receive a commission which is a percentage of your premium - ask us for more details before we provide you with any services on this product.including for pre-existing medical conditions and persons aged 80 years or over), limits and excesses may apply to all insurances. More information and the relevant Credit Card Insurances Product Disclosure Statement and Information Booklet can be found here. 3 Source: DBM Consultants, customers 18+ with a rewards/loyalty card in the 12 months to August 2018. 4 Mastercard Traveler Rewards are only available through participating merchants outside Australia. To receive the advertised cashback, pay with your Diamond Awards Mastercard at a participating overseas merchant and meet the offer’s terms and conditions. You must pay in the overseas currency of the offer – transactions made in Australian dollars are not eligible. An international transaction fee will apply. Cashbacks may take up to 30 days to appear on your statement. Visit www.mastercard.com/travelerrewards for a list of participating merchants and to find out more. 5 A maximum charge of $300 or a flat fee of $3.00 applies if your closing balance on previous business day was in credit). Mastercard and Priceless are registered trademarks, and the circles design is a trademark of Mastercard International Incorporated.

* For cards with reward programs that allow you to earn points, unless otherwise noted, the best case scenario of everyday spending is used when calculating the spend required to earn a reward. Everyday spending does not include bonus points that may be earned by shopping with loyalty partners. For rewards programs that have monthly caps, we assume you stay under that cap and for products with two cards, we assume spending is with the highest earning card. For programs that allow you to convert points for air travel at a price that changes from day to day, we have assumed that the flight is $300 (taxes and charges inclusive).

Visa® is a registered trademark of Visa International Services Association.
The MasterCard® brand is a registered trademark of MasterCard International Incorporated.