Key points
- The new premium charge card will add a distinctive option, different to Smart and Ultimate cards, giving customers a new way to pay with exclusive travel and lifestyle benefits.
- CommBank is exploring the use of Discover's global payment network to create a card tailored for Australian customers that is backed by the global reach of Discover.
- The new card will give cardholders access to a higher points-earning rewards card, with exclusive benefits including concierge support, airline lounge access, no international transaction fees and travel insurance benefits.
- CommBank will be inviting expressions of interest for the card in coming months*.
Commonwealth Bank today announced it is looking to expand its card portfolio, offering customers more choice with the introduction of a new premium charge card for Australian customers seeking greater travel, dining, and lifestyle experiences.
The announcement comes as Australia's payments landscape continues to evolve, alongside customer expectations for greater choice, rewards and benefits.
The new charge card will form part of CommBank's broader suite of cards and is designed for Australians with high discretionary spend who value premium travel, dining and lifestyle experiences. The new premium product will be a charge card, complementing CommBank's existing Smart and Ultimate credit cards and offering customers another way to pay, with balances required to be repaid in full each statement period.
Group Executive Retail Banking Services Angus Sullivan said the premium card will sit at the top of CommBank's card suite, giving customers more choice across Smart, Ultimate and a new premium charge card option.
"We see a clear opportunity to introduce a new premium charge card, adding a new dimension to our card offering for customers, with benefits centred on travel, dining, lifestyle and rewards.
"This new card will have higher points-earning capability and will feature no international transaction fees and travel insurance benefits. Cardholders will also have access to airport lounges and concierge support designed to elevate their travel experience.
"It will also add to the benefits of CommBank Yello to create a more connected rewards experience with how customers already bank, spend and travel," Sullivan said.
The new card will complement CommBank Yello, the bank's customer rewards program, which is designed to give eligible customers more ways to earn points, one place to see rewards and more choice in how they use them.
Broader card changes will deliver new benefits for eligible Smart and Ultimate customers, including monthly travel and dining credits, access to CommBank Yello points and complimentary DashPass membership with DoorDash. The new card will extend that choice with a premium option designed around elevated travel, dining, lifestyle and reward benefits. For Australian businesses, the new card creates a new opportunity to connect with highly engaged customers seeking travel, dining, retail and lifestyle experiences.
CommBank is exploring the use of Discover's global payment network to create a card tailored for Australian customers that is backed by the global reach of Discover.
Jason Hanson, President, Discover said: "Discover looks forward to supporting CommBank in bringing Australian customers a premium card experience backed by our global payment network."
