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

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.

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.


20.24% p.a. purchase rate

21.24% p.a. cash advance rate

Up to 55 interest fee days on purchases


Extended warranty insurance

Interstate Flight Inconvenience

Price Guarantee

Purchase security insurance

Transit Accident Insurance

International travel insurance

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.
Already have this credit card?

See if there's a better deal in 60 Seconds

Get Started

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

points per
$1 spend*
Alternative Credit Cards
More information
^ 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.
Stay or Go Pty Ltd (“Stay or Go”) provides information about and compares credit products in the Australian market and is authorised to do so as the holder of Australian Credit Licence 527092. We do not compare every credit product in the Australian market. We are not a credit provider and we do not provide credit assistance. When we provide information via this website, we are not providing you with a recommendation or suggestion about a particular credit product. When you apply for a credit product via our website, you are not applying with us, you are applying directly with the credit provider and will be redirected to their website. We endeavour to ensure that the information on this website is current and accurate however, before entering into any credit product with a credit provider displayed on our website, you should confirm the fees, rates, product information, and eligibility criteria with the credit provider and read the Target Market Determination (TMD) available via their website. All information on this website is general advice only and does not take into account your objectives, financial situation or needs. You should consider whether this advice is right for you and we encourage you to seek independent financial advice. The use of any trade name or trademark on this website is for identification, comparison and reference purposes only and does not imply any association with the trademark holder or their brand. Please refer to our Terms of Use for more details.
Copyright © 2022 Stay or Go Pty Ltd