American Express Cashback Credit Card

Offers up to 6% cashback for the first 3 months, an ongoing 1% cashback rate, a free BINGE subscription and no monthly fees for the first year.

The American Express Cashback Credit Card is suited to people who want cash-based rewards instead of points per $1. It offers you a bonus 5% cashback for the first 3 months, up to $200. Plus, a waived account fee for the first 12 months. You just need to meet the eligibility criteria, apply online and get approved by 19 January 2022 as a new card member. Then, use your card like you normally would and watch the cashback land on your statement.

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20.74% p.a.

Purchase rate

$0 p.a.

Annual fee

for the first year ($120 p.a. thereafter)

55 days

Interest free period

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Product NameAmerican Express Cashback Credit Card
Purchase rate20.74% p.a.
Annual fee$0 annual fee for the first year ($120 p.a. thereafter)
Interest-free periodUp to 55 days on purchases
Card typeAmerican Express
Minimum income$40,000
Available to temporary residentsYes - Conditions apply


  • Up to 6% cashback
  • Waived account fee for the first 12 months (reverts to $10 per month)
  • Free Binge basic subscription
  • Complimentary smartphone screen insurance, refund and purchase protection


  • Charges a relatively high 20.74% p.a. interest rate
  • Monthly fee adds up to a high $120 per year
Bonus pointsN/A
Annual fee$0 annual fee for the first year ($120 p.a. thereafter)
Additional cardholder fee$0
Number of additional cardholders4

Review by

Amy Bradney-George has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. Her work has also appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University.

Expert review

The new American Express Cashback Credit Card is the only dedicated cashback rewards card you can currently get with a major brand in Australia. In comparison, most other cards offer reward points per $1 spent. While you can usually convert points into some form of cashback, this card keeps it simple by giving you 1% back on most of your purchases – including food, coffee, petrol, clothes and supermarket shopping.

The bonus 5% back in the first 3 months sweetens the deal, giving you a way to earn up to $200 back. Keep in mind that you shouldn't be spending unnecessarily just to earn cashback and to check all the eligibility criteria before you apply.

How to apply

You can apply for the American Express Cashback Credit Card online and will get a response from Amex within 60 seconds of submitting the secure application. Before you apply, make sure you meet the following eligibility criteria and have the documents and details you need to include.

Eligibility criteria

  • New Amex card member. To get the bonus 5% cashback offer, you must not currently hold an American Express credit card and can't have held one in the past 18 months.
  • Minimum income. You need to earn at least $40,000 per year.

Card benefits

  • Bonus 5% cashback. Apply online by 19 January 2022 as a new Amex card member and you'll get a bonus 5% cashback per $1 on purchases for the first 3 months, up to $200 total. The bonus cashback will be added to your account at the end of each monthly statement, but could take 8-10 weeks. This is earned on top of the card's regular cashback rates, which means you can earn up to 6% cashback when you first get the card.
  • Waived account fee. If you apply and get approved for an American Express Cashback Credit Card by 19 January 2022, your account fee will be waived for the first year. After the first 12 months, the account fee will revert to $10 per month.

Rates & fees

  • Account fee. Outside of any promotions, this Amex card has a $10 monthly fee ($120 per year).
  • Purchase rate. The 20.74% p.a. interest rate on purchases is higher than the Australian average standard rate, but similar to many other rewards credit cards.

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