It seems like a lifetime ago that I dipped my toe in the water of credit card hacking with ANZ, with that first deal landing us approximately $500 from two credit cards (one for me and one for the wife). That experience was a bit annoying, but for a bit of free cash I was prepared to do it again – it was just a case of waiting for the right deal to come up.
Unfortunately in Australia the credit cards offering sign up bonuses that make sense are a bit thin on the ground, but the other day I noticed an advertisement for a Commonwealth Bank (CBA) cashback offer of $250 so I checked it out.
The Commonwealth Bank offer
The Commonwealth Bank offer had “$250 cash back” plastered all over it, but I clicked through to check out the fine print, and the key terms and conditions can be summarised as follows:
- Spend $500 by 31 March 2017.
- Cashback of $250 to be credited against the card within 60 days of spending the $500 referred to above.
- No annual fee for the first year.
- No minimum income required (that I saw anyway).
As you can see from the above, the terms and conditions are quite generic but tick all of the boxes that you need ticked, so it was a no brainer really. The bonus of this card over the previous ANZ deal was that you only need to spend $500 on this card within 60 days rather than the $2k that you had to spend on the ANZ one. Fortunately the insurance and registration for my car were due around the time that I got the cards, so I didn’t have to look very hard for a way to meet the card’s spending threshold.
After having put sufficient charges on the cards (and paying them off straight away to ensure that no interest was charged, I was please to find out that CBA had credited both cards with $250 (as promised) within about three weeks. That was a much shorter wait than I had with ANZ last time!
Now all I’ve got to do is call up to cancel the cards and think of a remotely plausible excuse why I’ve signed up and cancelled in no time at all…
So how would I rate the CBA experience?
You may recall that I was quite scathing of the ANZ experience when I got their cards, with everything seeming to be overly clunky, counter-intuitive and just plain annoying, so I was prepared for a similarly painful setup from CBA. Fortunately for me, I’d say that the CBA experience has actually been quite good in comparison, with no need to ever go to a branch for anything at all, and no need to even speak to anyone at CBA. I hope that all future credit card hacks that I sign up for are this easy – I’m already investigating the next one!