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Cashback offers that actually work

Take advantage of the cashback incentives financial institutions are offering.

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 May 26th, 2018
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
Citi Simplicity Card
19.99% p.a.
0% p.a. for 15 months with 1.5% balance transfer fee
$0 p.a.
Save with 5% cashback on eligible purchases (capped at $50 per month) for the first 90 days from approval. Plus, a 15 month balance transfer offer.
Virgin Money Low Rate Credit Card
11.99% p.a.
0% p.a. for 14 months
$49 p.a.
Offers a discounted annual fee, $100 cashback when you meet the spend requirement and 0% p.a. for 14 months on balance transfers.
Citi Rewards Classic Credit Card
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)
Receive 1 point per $1 spent on eligible purchases, up to $50 cashback when you meet the minimum spend and a 15 month balance transfer offer.

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 May 26th, 2018
$
Loan purpose
Offset account
Loan type
Your filter criteria do not match any product
Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
3.54%
3.58%
$0
$0 p.a.
80%
Eligible borrowers can get $900 cashback on this loan with a 100% offset account and a redraw facility.
3.89%
4.96%
$0
$395 p.a.
95%
Refinancers can get $1,500 cashback. Conditions apply. Package your home loan with a Qantas rewards earning Amplify credit card.
4.41%
4.81%
$0
$395 p.a.
90%
Borrow from $250000 up to $499999. $1,500 cash back offer available to refinancers, conditions apply.
4.45%
4.85%
$0
$395 p.a.
95%
Advantage Package home loan with $0 application fee.
3.77%
3.81%
$200
$0 p.a.
95%
A simplified mortgage with a low interest rate and a redraw facility.
5.43%
5.56%
$600
$8 monthly ($96 p.a.)
90%
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.

Compare up to 4 providers

  • 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 May 26th, 2018
$
Name Product Debit Card Access ATM Withdrawal Fee Fee Free Deposit p.m. Monthly Account Fee Product Description
ING Orange Everyday Account
Visa
$0
$1,000
Receive a $75 cash bonus if you open a new Orange Everyday account, enter the promotional code and deposit at least $1,000 within a calendar month (conditions apply)
St.George Complete Freedom Account
Visa
$0
$2,000
Open an account by June 29th, deposit $500 within 45 days of opening the account (or $250 for students & under 21's) and you'll receive a $50 cash bonus (conditions apply)
Bank of Melbourne Complete Freedom
Visa
$0
$2,000
Get $50 cash back by opening an account by June 29 and depositing $500 in the first 45 days. Students and under 21's receive the $50 deposit when they deposit $250 in the first 45 days (conditions apply)
BankSA Complete Freedom
Visa
$0
$2,000
New customers receive $50 cash back by opening a new account by June 29 and depositing $500 within 45 days of opening the account (or $250 for students & under 21's) (conditions apply)

Compare up to 4 providers

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 a transaction account with them and then link it to another recently acquired product, like a high-interest savings account, a home loan or a 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.

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