Head-to-head
NAB Rewards Signature vs CommBank Smart Awards
Rates & conditions verified 14 September 2026
Rates can change without notice. Last verified: 14 September 2026 (AEST). Please confirm details on the bank’s official page.
Two big-bank everyday rewards cards with fee-waiver mechanics rather than flat fees. One waives its fee for high spenders and skips international transaction fees; the other waives at a much lower bar and offers an optional Qantas program.
NAB Rewards Signature
Best for high spenders and overseas shoppers — the fee waiver and missing FX fee both reward volume
Condition: Bonus after approval and a minimum spend, plus a tranche for holding the card 12 months
- No international transaction fee
- Fee waived in high-spend months
- Transfers to Velocity and KrisFlyer (not Qantas)
CommBank Smart Awards
Best for CommBank customers with steady everyday spend who may want Qantas Points via the opt-in program
Condition: No current welcome bonus; the fee waiver and Qantas opt-in are the draw
- Fee waived at a modest monthly spend
- Optional Qantas-direct program
- No bonus spend targets to meet
At a glance
| Feature | NAB Rewards Signature | CommBank Smart Awards |
|---|---|---|
| Bonus points | 110,000 pts | 0 pts |
| Everyday earn rate | 1.5 pts per $1 | — |
| Earn cap | $15,000 spend per calendar month, then 0.5 pts per $1 | $5,000 spend per statement period, then 0.5 pts per $1 |
| Annual fee | $420 | $228 |
| Lounge access | None | None |
| Foreign transaction fee | None | None |
| Condition to earn it | Bonus after approval and a minimum spend, plus a tranche for holding the card 12 months | No current welcome bonus; the fee waiver and Qantas opt-in are the draw |
The verdict
Match the card to your spend level and airline. CommBank's fee waiver kicks in at a much lower monthly spend, and its optional Qantas program is the only path to Qantas Points between these two — NAB Rewards points explicitly can't become Qantas Points. NAB's case is volume: a bigger bonus, no foreign-transaction fees, and a fee waiver aimed at heavy spenders. If your spend is modest and you fly Qantas, CommBank fits; if you spend big or shop overseas, NAB pulls ahead.
FAQs
Which card can earn Qantas Points?
Only the CommBank Smart Awards — via its optional Qantas program, which carries an annual opt-in fee and earns Qantas Points directly on purchases. NAB states its Rewards points cannot be redeemed for Qantas Points; they transfer to Velocity, KrisFlyer and Airpoints instead.
How do the annual fee waivers compare?
Both cards waive their fee monthly based on spend, but the thresholds are very different — CommBank's is a modest everyday-spend bar, while NAB's requires serious monthly volume. Check the current thresholds on each review and be realistic about your typical month.
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Information verified 14 September 2026. Rates are variable and subject to change. Confirm current rates and conditions on each provider's website before applying. This is not financial advice.