CommBank Smart Awards Review (2026)
Rates and details verified 14 June 2026
Rates can change without notice. Last verified: 14 June 2026 (AEST). Please confirm details on the bank’s official page.
Bonus points
40,000
CommBank Awards Points
Travel credit
$100
included with bonus offer
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. While its bonus point offer (40,000 points) is the lowest among premium rewards cards on this comparison, its $2,000/month spend waiver on the annual fee makes it practically free for many CommBank customers who use it as their main card.
The welcome offer also includes $100 in Travel Credits — a tangible benefit in addition to the points. Earning requires $4,500 spent in the first 90 days — a lower bar than higher-bonus cards.
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 |
|---|---|---|
| Bonus points | 40,000 pts | Spend $4,500 in first 90 days |
| Travel Credits | $100 | Issued with the bonus offer after qualifying spend |
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 |
Pros and Cons
Pros
- ✓ Annual fee effectively $0 for $2,000+/month spenders
- ✓ $100 Travel Credits included
- ✓ Lower $4,500 spend requirement (vs $5k–$12k on other cards)
- ✓ Optional Qantas program earns Qantas Points directly
- ✓ CommBank — Australia's largest bank
Cons
- ✗ Lowest bonus points of any premium rewards card (40,000)
- ✗ $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 Premium Card120,000 pts — all yr1, $349/$399 fee — direct Qantas
- NAB Rewards Signature110,000 pts — $420 fee — no intl FX fee
- CommBank Smart AwardsReviewed here40,000 pts — + $100 travel credit — lowest spend bar, waivable fee
Compare head-to-head
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Information verified 14 June 2026. Offers subject to change and eligibility criteria apply. Confirm current terms on CommBank's website before applying. This is not financial advice.