🔥 Trending Commonwealth Bank Loyalty Program Changes: What You Need to Know

The Commonwealth Bank (CBA) has announced significant changes to its loyalty program, CommBank Yello, which are set to reshape how its customers earn and redeem reward points ¹⁴. These changes, largely effective from late 2025 and 2026, involve a major shift in airline partners, an expansion of earning opportunities beyond credit cards, and a reduction in overall card earn rates ¹³.

Key Changes to the CommBank Yello Loyalty Program

1. Shift from Qantas to Virgin Velocity

Perhaps the most notable change is CBA's decision to pivot its primary airline loyalty partnership from Qantas Frequent Flyer to Virgin Australia's Velocity Frequent Flyer scheme ¹².

• Qantas Exit: As of October 1, 2025, CommBank will eliminate all but one of its airline and hotel program partners, effectively cutting ties with Qantas Frequent Flyer for new point transfers ⁸. This means customers will no longer be able to directly transfer their CommBank Awards points to Qantas ¹.
• Velocity Partnership: Commonwealth Bank is now actively encouraging customers to spend their credit card rewards with Virgin's Velocity scheme ¹. This move is seen as a strategic overhaul of its loyalty program ¹.

2. Expanded Earning Opportunities

The revamped CommBank Yello program aims to allow more than nine million CommBank customers to earn points across a wider range of banking products, not just credit cards ⁴⁶.

• Everyday Banking: Customers will now be eligible to earn points on home loans, savings accounts, and insurance, in addition to credit cards ⁴⁶. This represents a significant expansion of the program's scope, moving beyond traditional credit card rewards ³.
• Goal: The bank's objective is to help customers save on shopping, utility bills, and travel by rewarding them for their everyday banking activities ⁴⁶.

3. Reduced Credit Card Earn Rates

While expanding earning opportunities, CBA is also implementing a reduction in credit card earn rates ³. This means that for some credit card users, the number of points earned per dollar spent may decrease.

4. New Transfer Partners and Redemption Options

Although the exact details of all new partners are still emerging, the program is expected to introduce more ways to earn points and potentially new redemption options ³.

• Myer and Other Options: CommBank Awards points can be redeemed for various options, including retail partners like Myer ⁵.
• Conversion Partner Loyalty Programs: Points can be redeemed for whole units of Conversion Partner loyalty program points, indicating continued flexibility in how points can be used ⁷.

Context and Implications

These changes, announced in August 2026, represent the biggest overhaul to Australia's largest banking loyalty program ⁴⁶. The move away from Qantas is particularly significant, given the long-standing relationship between the airline and various financial institutions in Australia ¹.

The new program aims to defy looming bans on credit card surcharging rules by rapidly expanding when and how Australians can earn reward points ². This strategic shift by CBA is designed to enhance customer loyalty by offering a more holistic rewards experience tied to a broader range of banking activities ⁴.