CommBank customers face an important decision: where should your CommBank Yello Points go next? As part of the bank’s recent rewards changes, eligible customers with cards linked to CommBank Yello need to re-select their preferred rewards option, including transfer partners.
In particular, those who were previously opted in with Qantas will need to opt in again to the new program. For frequent flyers such as yourselves, this creates an opportunity to rethink your strategy. Consider where you like to travel, which airlines you regularly fly, and how much flexibility you value. Here are the main options to consider.
Velocity Frequent Flyer
Velocity Frequent Flyer is likely to be a popular choice for many CommBank customers, particularly given the current incentives. Customers who opt into Velocity Auto Transfer for the first time can receive:
- A $0 annual opt-in fee for the first 12 months (normally $99)
- 20% bonus Velocity Points on eligible transfers for the first six months, capped at 20,000 bonus points
- A 2.5 to 1 transfer rate from Yello Points to Velocity Points
- Available for both Smart and Ultimate cards
Velocity Points can be particularly useful for Virgin Australia flights, but also offer access to international redemptions through partners including ANA and Singapore Airlines. These two sweeteners make Velocity an especially compelling option in the first year.
Qatar Airways Privilege Club
CommBank customers can also choose Qatar Airways as a transfer partner, giving access to Avios. This opens up opportunities to use your points for Qatar Airways flights, as well as selected partner redemptions. Qatar Airways may appeal if you’re interested in:
- Flying long-haul Business Class
- Experiencing Qatar Airways’ Qsuite product
- A 2.5 to 1 transfer rate from Yello Points to Avios
- Available for both Smart and Ultimate cards
There is also no annual opt-in fee for choosing Qatar Airways as your transfer partner. The key redemption to look out for is Qatar Airways Business Class from Australia to Europe for 90,000 Avios + fees and taxes, one-way and per passenger. These are hard to find, but might be one of the best-value Business Class rewards out there.
Everyday Rewards
Not every points collector wants to redeem for flights. Woolworths Everyday Rewards provides another option for customers who prefer to turn their points into grocery savings. But it’s also common knowledge that Everyday Rewards is a Qantas partner, and you can further convert your points to Qantas. Choose Everyday Rewards if you:
- Prefer supermarket savings over travel rewards, or
- Want to transfer points to Qantas via a secondary avenue
- A 3 to 2 transfer rate from Yello Points to Everyday Rewards (going from EDR to Qantas is then a 2 to 1 transfer rate, which effectively makes it 3 to 1 overall).
- Available for both Smart and Ultimate cards
As with Qatar Airways, there is no annual opt-in fee for this partner.
Qantas Frequent Flyer
Existing CommBank Awards customers transitioning to CommBank Yello may want to keep direct transfer to Qantas Frequent Flyer. Qantas Points remain one of Australia’s most popular rewards points, with opportunities to redeem for Classic Flight Rewards across Qantas, Jetstar and partner airlines.
Keep in mind that a $149 annual fee applies and only CommBank Ultimate cardholders can pick this option. The transfer rate is 3 to 1 from Yello Points to Qantas Points.
However, there’s the obvious loophole that we mentioned above – at the moment, transferring to Woolworths Everyday Rewards provides the same outcome without any of the restrictions. But we wouldn’t be surprised if this eventually changes.
Travel Booking, provided by Hopper
Whilst not a traditional points transfer partner, we’ve included Travel Booking as it is an alternative way to redeem points for travel. This involves staying on the current default option that you have been put on, which is to earn CommBank Yello points.
The redemption value you get is $6 off per 1,000 points used. For example, if you use 100,000 Yello Points, you could get $600 off Travel Booking itineraries.
This is generally not as good value as booking reward seats through airline frequent flyer programs, but it does offer the most flexibility in how you use your points.
Cathay Pacific
CommBank’s newest transfer partner will be Cathay Pacific, although the launch date and other details, such as the transfer rates, are yet to be announced. If you do fly via Hong Kong regularly, this could be one to keep an eye on.
Which CommBank transfer partner should you choose?
As always, this depends heavily on your circumstances. Velocity is worth a close look, particularly with the current introductory bonus of the waived annual fee and transfer bonuses. Qatar Airways remains a solid all-rounder, and Everyday Rewards provides another way to collect Qantas Points.
If you’re not sure yet, you don’t have to choose right away. Cathay Pacific will join that list soon, and we expect more new travel partners to be announced over the next few months.
The key is to choose the program that matches your travel habits. A large points balance in the “wrong” program is far less useful than a smaller balance that you can actually redeem.
For example, if you don’t think you’ll earn enough Avios to redeem a premium reward, you might want to consider consolidating your points into a program you do regularly use, even if there is an annual fee.
