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Cashback Offers That Actually Work

Information verified correct on October 26th, 2016

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 October 26th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
American Express Essential Credit Card
Receive a $50 credit on eligible spend and get Smartphone screen insurance combined with a no annual fee for life card. Also enjoy a 0% p.a. balance transfer rate for 12 months.
14.99% p.a. 0% p.a. for 12 months with 1% balance transfer fee $0 p.a. Go to site More info
Virgin No Annual Fee Credit Card
$100 cashback and a no annual fee card with balance transfer offer. Spend criteria applies for cashback offer.
18.99% p.a. 0% p.a. for 18 months with 2% balance transfer fee $0 p.a. Go to site More info
Citi Rewards Platinum Card - Cashback Offer
Earn $250 cashback on eligible spend, plus enjoy 0% p.a. balance transfer offer for 12 months, discounted annual fees for the life of the card and a complimentary travel insurance.
20.99% p.a. 0% p.a. for 12 months $99 p.a. annual fee for the first year ($199 p.a. thereafter) Go to site More info
Commonwealth Bank Business Interest-Free Days Credit Card
Take advantage of $0 annual fee for the first year and receive $250 cash back (spend $500 by 31 December 2016).
17.57% p.a. $0 p.a. annual fee for the first year ($60 p.a. thereafter) Go to site More info
ANZ Low Rate
$100 Back plus 0% p.a. for the first 6 months on purchases from approval.
0% p.a. for 6 months (reverts to 13.49% p.a.) $58 p.a. Go to site More info
ANZ Low Rate Platinum Credit Card
$250 Back plus 0% p.a. for the first 6 months on purchases from approval.
0% p.a. for 6 months (reverts to 13.49% p.a.) $99 p.a. Go to site More info
  • 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 October 26th, 2016
Loan purpose
Offset account
Loan type
Your filter criteria do not match any product
Product nameInterest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment
Bank of Queensland Fixed Rate Home Loan - 3 Year Fixed Rate Discount Rate $150k+ <80% LVR (Owner Occupier)
Special offer for new lending of $150k or more & under 80% LVR, this offer has been extended. $1,500 gift card offer available, terms and conditions apply.
3.59% 4.28% $300 $10 monthly ($120 p.a.) 80% More info
St.George Fixed Rate Advantage Package -  2 Year Fixed Rate (Owner Occupier)
A discounted package rate for owner occupiers with the ability to package a Qantas rewards earning Amplify credit card. $1,000 cash back available for refinancers, conditions apply.
3.75% 5.03% $0 $395 p.a. 95% More info
BankSA Advantage Package Home Loan - $250k to $499,999 (Special Discount) (Owner Occupier, P&I)
Borrow from $150000 up to $249999. $1,500 cash back offer available to refinancers, conditions apply.
4.49% 4.89% $0 $395 p.a. 90% More info
Queenslanders Credit Union Fixed Rate - 2 Years Fixed Special Offers (P&I)
Borrow from $50000 up to $3000000. $1,000 cash back available when you move your home loan to Queenslanders Credit Union. This offer is available for a limited time only! Terms and conditions apply.
3.82% 4.42% $595 $0 p.a. 97% More info
Bank of Melbourne Advantage Package Home Loan - $250k - $499,999 (Special Discount) (Owner Occupier, P&I)
Advantage Package home loan with $0 application fee. Refinancers have $1,500 cash back offer available, conditions apply.
4.47% 4.87% $0 $395 p.a. 95% More info
SCU Basic 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, terms and conditions apply.
4.49% 4.54% $200 $0 p.a. 95% More info
Credit Union SA Home Loan Package - Variable $500k+ (Owner Occupier)
Cashback and other offers available to teachers who take out a new loan or refinance from another lender.
4.39% 4.77% $0 $395 p.a. 80% 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.
5.33% 5.37% $0 $0 p.a. 95% 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

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?


  • 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.


  • 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 it comes to 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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