CommBank Diamond Awards - Velocity Credit Card

The CommBank Diamond Awards - Velocity Credit Card offers 50,000 bonus Velocity Points. Ongoing benefits include Velocity Points via Velocity Frequent Flyer earned on everyday purchases, and complimentary travel insurance.


Updated 18 May 2022

* See details below

Expert Review

The CommBank Diamond Awards - Velocity credit card is one of CommBank's premium Velocity Frequent Flyer products. Featuring a competitive points earn rate, the card provides premium features such as insurances. This card earns CommBank Awards Points, which can be converted to a variety of rewards, including Velocity Points. Further, the product has a $349 annual fee, including up to 55 interest free days.

Considering its key features, this card is most suitable to someone who wishes to be rewarded for their spend. Other benefits include Overseas Travel and Medical Insurance which is similar to equivalent products.

Product Details
A credit card that rewards your everyday spend, with the added benefit of international travel insurance."
- CommBank
Rewards

Earn Velocity Points via CommBank Awards#

0.63points per $1 spent

500,000 annual points cap

# This product earns CommBank Awards Points which can be converted to Velocity Points. For your convenience, all above references to points are in the Velocity Points currency.

Fees
Account Fees

$349 annual account fee

Additional Cardholder Fees

$10 additional cardholder fee

Up to 1 additional cardholder

Transaction Fees

3.00% international transaction fee

Other fees may apply.

Rates

20.24% p.a. purchase rate

21.24% p.a. cash advance rate

Up to 55 interest fee days on purchases

Features
Insurance

Extended warranty insurance

Interstate Flight Inconvenience

Price Guarantee

Purchase security insurance

Transit Accident Insurance

International travel insurance

Offers
Bonus Points Offer

50,000bonus points

50,000 Bonus Points when you apply for a new Business Platinum Awards credit card by 30 June 2022 and spend $5,000 on eligible purchases within 90 days from activation.
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TMD

Before applying for this product, you should read the Target Market Determination (TMD) available here on the CommBank website.

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^ Credit card reward programs can be difficult to compare due to tiered and capped points earn rate structures. To simplify comparison, we estimate the number of points you could earn per $1 spent, assuming $5,000 of spend on eligible purchases each month.
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