CommBank Smart Awards Review (2026)
Rates and details verified 14 September 2026
Rates can change without notice. Last verified: 14 September 2026 (AEST). Please confirm details on the bank’s official page.
Welcome bonus
None
no current offer — value is ongoing
Qantas option
Opt in
earns Qantas Points directly
Annual fee
$228
waived months with $2k+ spend
About the CommBank Smart Awards Card
The CommBank Smart Awards is an entry-level rewards credit card from Australia's largest bank. It currently has no welcome bonus — the 40,000 point offer that ran earlier in 2026 has ended. What remains is the card's ongoing case: the $2,000/month spend waiver makes the annual fee effectively $0 for many CommBank customers who use it as their main card.
Awards points are redeemed through the CommBank Awards store (gift cards, merchandise, cashback). Frequent flyers can instead opt the card into CommBank's Qantas program for an annual fee, switching every purchase to earn Qantas Points directly — the rates for both programs are in the earn table below.
Welcome Offer Breakdown
| Benefit | Value | Condition |
|---|---|---|
| Welcome bonus | None currently | The 40,000 point + travel credit offer ended; CommBank may run new offers |
Verify eligibility at CommBank's website.
Annual Fee — How the Waiver Works
The annual fee is charged as $19 per month ($228/year). It is automatically waived in any calendar month where you spend $2,000 or more on eligible purchases. This means CommBank customers who use this as their primary card typically pay little or nothing in annual fees across the year.
Ongoing Earn Rates
| Spend | Awards Points per $1 |
|---|---|
| major supermarkets, department stores, petrol, dining and utilities | 1.5 pts |
| all other purchases | 1 pt |
| Beyond $5,000 spend per statement period | 0.5 pts |
Getting Qantas Points with this card
This card has an optional Qantas program ($90/year): instead of Awards Points, it earns Qantas Points directly at these rates.
| Spend | Qantas Points per $1 |
|---|---|
| major supermarkets, department stores, petrol, dining and utilities | 0.6 pts |
| all other purchases | 0.4 pts |
| Beyond $5,000 spend per statement period | 0.2 pts |
Perks and Extras
| Lounge access | None |
| Travel insurance | IncludedComplimentary; cover, limits and activation rules are set by the issuer |
| Concierge | Not stated |
| Foreign transaction fee | None |
- No international transaction fees
- Travel insurance activates once you spend $500 or more on prepaid travel
- Paid airport lounge access through Mastercard Travel Pass (DragonPass), charged per visit
- CommBank Yello cashback offers
Perks as listed on CommBank's card page on 10 September 2026. Eligibility, registration steps and cover limits are set by the issuer and can change.
Pros and Cons
Pros
- ✓ Annual fee effectively $0 for $2,000+/month spenders
- ✓ No spend hoops — there is no bonus to chase
- ✓ Optional Qantas program earns Qantas Points directly
- ✓ CommBank — Australia's largest bank
Cons
- ✗ No welcome bonus at present
- ✗ $228/year if spend stays below $2,000/month
- ✗ CommBank Awards conversion rates lower than direct airline cards
- ✗ No international fee waiver
How It Compares
The Smart Awards suits existing CommBank customers who spend $2,000+/month and want a low-risk entry into the rewards card space without a large upfront fee commitment.
- St.George Amplify Rewards Signature200,000 pts — over 2y, $199/$295 fee — far more points
- Qantas Money Platinum80,000 pts — all yr1, $349/$399 fee — direct Qantas
- NAB Rewards Signature110,000 pts — $420 fee — no intl FX fee
- CommBank Smart AwardsReviewed here— — no current bonus — waivable fee, Qantas opt-in
Compare head-to-head
Related guides
Information verified 14 September 2026. Offers subject to change and eligibility criteria apply. Confirm current terms on CommBank's website before applying. This is not financial advice.