CommBank is preparing to relaunch its Yello loyalty program from 1 October 2026, combining it with the CommBank Awards points system. The major expansion will see customers earn points across a much wider range of products with the bank.
The revamped program, which CommBank refers to as ‘the next evolution of Yello’, will introduce a single Yello Points offering that can be earned not just through credit card spend, but also through banking, borrowing, investing, insurance, travel, and partner offers.
There are plenty of new ways to earn points, but not everyone will end up ahead – particularly in the lower CommBank Yello tiers. While not all of the key details have been revealed yet, here’s what we know so far.
More ways to earn Yello Points
CommBank confirms to us that existing CommBank Awards points will transfer 1:1 to Yello Points. Under the new program, customers will be able to earn points through a combination of products, including:
- Home loans (sign-up bonuses and ongoing yearly loyalty awards)
- Personal loans (sign-up bonuses)
- Home, car, health, life, and contents insurance (sign-up bonuses)
- Credit cards (sign-up bonuses and ongoing spend)
- CommSec and term deposits (monthly points for qualifying activity, reinvestments)
- Travel Booking and Dine in Deals (boosted earn rates up to 5 points/dollar)
Travel Booking utilises CommBank’s existing travel portal, powered by Hopper. Dine in Deals will be offered in conjunction with EatClub. We expect exact earn rates and sign-up bonuses to be finalised before the October launch. As a guide, some products are expected to offer 10-40,000 points in bonuses.
Updated CommBank credit and debit cards
CommBank credit cards
The existing Ultimate Awards and Smart Awards credit cards will remain (and be renamed to the Ultimate and Smart cards, respectively). While the monthly free structure is also staying the same, CommBank confirms that the current spend waivers will be removed.
In place of the spend waivers, CommBank will introduce new travel and dining credits that roughly offset the monthly fees. Both cards will share the same standard earn rate, which is now tied to your Yello tier rather than the type of card you hold.
The Standard Awards card will be removed and not replaced, but CommBank says a new ‘premium charge card’ with airline lounge access and no international transaction fees will launch on the Discover network later in the year.
| CommBank Ultimate | CommBank Smart | |
| Monthly fee (No spend waivers) | $35/month ($420/year) | $19/month ($228/year) |
| Monthly credits (12-month expiry) | $25/month Travel Credit $10/month Dining Credit | $10/month Travel Credit $10/month Dining Credit |
| Inclusions | Travel Insurance 2x Lounge passes/year No International FX fee DoorDash DashPass subscription Cracked screen insurance protection | Travel Insurance DoorDash DashPass subscription Cracked screen insurance protection |
| Earn rates | Yello: 0.5 pts/dollar Yello Plus: 0.75 pts/dollar Gold: 1.0 pts/dollar Diamond: 1.5 pts/dollar International spend (all tiers): 2.0 pts/dollar | Same as Ultimate |
As both the Ultimate and Smart cards will offer the same points earning (based on your Yello tier), the Ultimate card effectively adds two lounge passes and fee-free overseas transactions for an extra $16 a month ($192 a year). If those perks don’t matter much to you, the Smart card might be a better fit.
Conversely, if you have an eligible mortgage with the Wealth Package, you have access to an ongoing fee waiver on one credit card. In that case, the Ultimate card might be the better fit, simply for the extra benefits.
CommBank debit cards
While credit cards earn points uncapped, the World Debit Mastercard will have relatively restrictive monthly caps applied:
- CommBank Yello Plus: 0.5 points per dollar domestic (capped at 500 pts/month) + 1 point per dollar international
- CommBank Yello Gold: 0.5 points per dollar domestic (capped at 750 pts/month) + 1 point per dollar international
- CommBank Yello Diamond: 0.5 points per dollar domestic (capped at 500 pts/month) + 1.5 points per dollar international
Overall, this is a major shift in strategy, as Yello will dish out more points to customers who hold multiple CommBank products. Your tier will influence how much you earn from eligible card spending. The current Yello tiers will remain in place when the new program launches.
The changes do mean that customers with a credit card – but not many other CommBank products – will likely be worse off after the changes.
CommBank Yello brings back more transfer partners
The previous CommBank Awards program was known for having a diverse range of transfer partners (until most of them were cut). Some of these are making a comeback in the revamped Yello program. However, you may need to pay an ‘annual participation fee’ to transfer to certain partners.
At launch, we expect that the Yello transfer partners will include:
- Qantas Frequent Flyer (3 to 1 rate with a $149/year participation fee)
- Velocity Frequent Flyer (2.5 to 1 rate with a 20% bonus for 6 months, annual fee TBA)
- Qatar Airways Privilege Club (2.5 to 1 rate)
- Myer (2 to 1 rate)
- Everyday Rewards (3 to 2 rate)
CommBank says additional partners are expected to follow in late 2026 and early 2027, including at least two major international airlines, a major hotel chain, and a prominent Australian loyalty program.
While this is useful for customers who like the flexibility to transfer points, keep in mind the effective earn rates for each tier. For Yello Diamond customers, the effective earn rate on a credit card is 0.6 Velocity Points or Privilege Club Avios per dollar, or just 0.5 Qantas Points per dollar. The bigger points opportunities will be with sign-up bonuses and loyalty bonuses with other CommBank products.
Speaking of Qantas, a smarter play would be to transfer your Yello points to Everyday Rewards, and then transfer that balance to Qantas. Not only do you get the same effective earn rate, but you’ll also avoid the $149/year Qantas participation fee.
| Starting with 30,000 Yello Points | Transfer to Qantas direct (fee applies) | Transfer via Everyday Rewards (no fee applies) |
| Transfer 1 | 30,000 Yello Points = 10,000 Qantas Points (3 to 1) | 30,000 Yello Points = 20,000 Everyday Rewards Points (3 to 2) |
| Transfer 2 | n/a | 20,000 Everyday Rewards Points = 10,000 Qantas Points (2 to 1) |
At Point Hacks, we recommend transferring your points to an airline loyalty program to maximise your rewards. Transferring them for cash-equivalent discounts, such as for Myer points, generally won’t yield as much value as getting a reward seat flight.
Summing up
CommBank Yello is shaping up to be a much broader loyalty program than other banks, with more opportunities to earn points across your relationship with the bank and a welcome return of airline transfer partners.
However, the new tiered card earn rates mean customers who have a broader relationship with CommBank could come out ahead, particularly at the Yello Diamond level. Those who primarily use only a CommBank credit card, rather than a mix of other products, may find themselves worse off.
The return of Qatar Airways as a transfer partner is a significant positive for frequent flyers. But do take into account transfer rates and the annual participation fees that may apply to Qantas and Velocity.
For existing Awards cardholders, the removal of the spend waivers is another important change to consider. While the new travel and dining credits help offset the monthly fees, you’ll need to use those credits within their 12-month validity period to get their full value.
If you’re willing to consolidate your home loan, insurance, investments, and everyday banking with CommBank, there are potentially plenty of points on offer with the new Yello program.
Stay up to date with the latest news, reviews and guides by subscribing to Point Hacks’ email newsletter.
