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Cashback Offers That Actually Work

Take advantage of the cashback incentives being offered by financial institutions.

With the increasing competitiveness of the financial market, lenders are looking for more and more ways to reward you for signing up for one of their products or services. Cashback offers let you receive a monetary reward in the form of cash or a gift card from the financial provider when you sign up for one or more of their products.

What are the different types of cashback offers?

There are a few different types of financial products and services that offer cashback offers. Take a look at your options below:

Credit cards with cashback offers

Rates last updated June 25th, 2017
Name Product Product Description Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
American Express Essential®  Credit Card
Receive a $50 credit when you apply online, are approved and spend $750 within the first 3 months of card membership.
14.99% p.a.
0% p.a. for 12 months with 1% balance transfer fee
$0 p.a.
Citi Rewards Classic Credit Card
Receive up to 5% cash back on all retail purchases, up to $1,000 in your first 90 days from card approval (capped at $50).
20.99% p.a.
0% p.a. for 15 months with 1.5% balance transfer fee
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
Citi Simplicity Card
Receive 10% cashback on eligible purchases (capped at $50 per month for 4 months from card approval).
19.99% p.a.
0% p.a. for 6 months
$0 p.a.

Compare up to 4 providers

  • How it works: Credit card providers may offer you a certain amount of money in the form of cash or a gift card. A cashback incentive may be offered by the lender in conjunction with other benefits, such as a 0% balance transfer rate, discounted fees or rates or any other introductory offers. These are usually offered for a limited time and you would need to apply by a certain date.
  • What to watch out for: Remember to check the rates and fees associated with the card to see if the cashback offer is worth it.

Home loans with cashback offers

Rates last updated June 25th, 2017
$
Loan purpose
Offset account
Loan type
Your filter criteria do not match any product
Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment
NAB Choice Package Home Loan - 2 Year Fixed (Owner Occupier P&I)
A fixed rate package loan with flexible repayments options. 350K NAB Rewards Points offer available. Terms and conditions apply.
3.88% 4.95% $0 $395 p.a. 95% Go to site More info
St.George Fixed Rate Advantage Package -  2 Year Fixed Rate (Owner Occupier, P&I)
A discounted package rate for owner occupiers with the ability to package a Qantas rewards earning Amplify credit card. $1,500 cash back available for refinancers, conditions apply.
3.99% 5.04% $0 $395 p.a. 95% Enquire now More info
BankSA Advantage Package Home Loan - $250k to $499,999 (Special Discount) (Owner Occupier, P&I)
Borrow from $250000 up to $499999. $1,500 cash back offer available to refinancers, conditions apply.
4.49% 4.89% $0 $395 p.a. 90% More info
4.50% 4.90% $0 $395 p.a. 95% Enquire now More info
SCU Basic Variable Rate Home Loan
A basic home loan with a low interest rate and a redraw facility available. Take out a new SCU loan and enjoy $500 cash back on loans above $150k, terms and conditions apply.
3.77% 3.81% $200 $0 p.a. 95% Go to site More info
Northern Inland Credit Union Smart Variable Home Loan - Owner Occupier
This loan is a flexible home loan packed with smart features for purchasing or refinancing a home or investment property. Refinancing cash back offer of $1,000 available, conditions apply.
5.43% 5.48% $0 $0 p.a. 95% Enquire now More info
homeloanHQ Rate Lock Loan
Part fixed part variable home loan with redraw facility. $600 cashback offer available, conditions may apply.
4.01% 4.04% $0 $120 p.a. 80% More info
  • How it works: Home loans offering cashback incentives have become more common recently. The amount you are offered as part of the cashback is usually considerably more than you would be offered with other financial products, because a home loan is so much more of a financial commitment.
  • What to watch out for: Choosing a home loan provider is not a decision which should be taken lightly. You should consider the cashback offer as an added bonus and nothing more. You should also familiarise yourself with all other fees and charges that you will incur when you sign up for the loan so you can better determine if the cashback offer will be of much value to you.
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Transaction accounts with cashback

Rates last updated June 25th, 2017
Debit Card Account Details Card Type Monthly Account Fee Minimum Opening Balance Description
HSBC Day to Day Transaction Account
HSBC Day to Day Transaction Account
No monthly account fee with no minimum deposit. Your Visa debit card unlocks special privileges worldwide with the HSBC home&Away Privilege Program. Visa Debit Card $0 $0 $0 account keeping fees. Unlimited free withdrawals at over 3,000 HSBC, Westpac, St.George, Bank of Melbourne and BankSA ATMs. Go to site More

Financial packages with cashback offers

  • How it works: Some financial institutions try and encourage you to get more of their products by offering you a cashback incentive. They may offer you this cashback when you sign up for an account with them and then link it to another recently acquired product, such as a home loan or credit card. Not only are you rewarded with money, but keeping your financial products together is a convenient way to track your finances.
  • What to watch out for: Make sure you check all the associated rates and fees of all of the products you are planning to sign up for. If you do not want the product on offer, then you may want to reconsider taking it up.

What are the pros and cons of cashback offers?

Pros

  • You can choose to put the money towards your purchased product or service or spend it on something for yourself.
  • The cashback offer is not an amount that is attached to the loan so will not incur any extra fees or rates.

Cons

  • This kind of offer does not improve the quality of the product or service.
  • You may find the cashback offer wasn't of much value to you after your sign up due to the amount of fees and interest charges.

Compare cashback offers

When looking at cashback offers or any other kind of sign up incentives, it's important to compare your options before you decide which one to go with. You can look at the fees and charges associated with each product and also the rates you will be charged. Using this information, you can calculate the approximate amount you will be paying with these products and then determine the actual value of the offer. For example, you may receive a $3,000 cashback offer, but if you pay $1,500 in introductory fees then you should consider it a $1,500 cashback offer.

Rates last updated June 25th, 2017
$
Monthly Account Fee Debit Card Access ATM Withdrawal Fee Fee Free Deposit p.m. Details
Bankwest Easy Transaction Account
2% cash back (up to $50 cash back per month until 31 August) on tap & go purchases (minimum of five payments, other conditions apply)
Mastercard $0 $2,000 $0 account keeping fees if you deposit at least $2,000 per month. Otherwise, a $6 monthly fee applies. Unlimited free withdrawals at CommBank, NAB, ANZ, Westpac, St.George, Bank of Melbourne and BankSA ATMs. Go to site More
St.George Complete Freedom Student Account
10% cash back on online gaming purchases until 30 September limited to a spend of $200 (other conditions apply)
Visa $0 $2,000 $0 account keeping fee for students. Unlimited Free withdrawals at St.George, Bank of Melbourne, BankSA and Westpac ATMs. Go to site More
St.George Complete Freedom Account
10% cash back on online gaming purchases until 30 September limited to a spend of $200 (other conditions apply)
Visa $0 $2,000 $0 account keeping fees if you deposit at least $2,000 per month. Otherwise, a $5 fee applies. Unlimited free withdrawals at St.George, Westpac and BankSA ATMs. Go to site More
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