Unattainable wealth aspirations: Average Aussie needs $330,000 to feel rich
The average Aussie says they'd need to earn a far higher salary than the average wage to feel rich.
Read more…Cashback incentives: What is cashback?
Find out how to get cash rewards when you sign up for new bank products.
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
Cashback incentives are becoming an increasingly popular way for lenders and financial providers to attract new customers to their products. You can receive a cashback incentive for credit cards, transaction and savings accounts, home loans and financial package deals. Different lenders have different incentives on offer, some requiring you to sign up for new products to qualify.
Digital bank accounts with cash back offers
Most of these incentives are limited time offers and are used by providers as a way to 'seal the deal' for people who are on the fence about their products.
Keep reading to find out the different type of cashback offers available and which lenders are currently providing them.
What is a cashback incentive?
A cashback incentive is basically what it sounds like—you receive cash after you apply for a financial product and your application is accepted. Sometime providers also waive fees or charges with these offers, making them even more lucrative.
A cashback incentive is a great offer from providers because it allows you to spend the money how you like. You can put it towards paying off fees or charges associated with your new financial product, or you could use it to go and buy something. The choice is yours. These incentives can come in the form of actual cash or gift cards.
Credit cards with cashback incentives
Credit cards are one of the most popular products that providers offer cashback incentives with. They are sometimes offered in conjunction with low purchase rates, balance transfer rates or other discounted rates or fees. These offers are usually for a limited time only and require you to apply for the card by a certain date.
When considering these credit cards remember to check the fees and rates before you sign up. A good idea is to calculate the fees and interest you will be paying and decide whether the cashback offer is worth it. Remember to compare your options online before you settle on a card.
Compare credit cards with signup cashback offers
Home loans with cashback incentives
Home loans offering cashback incentives aren't exactly new, but they certainly have become more popular as of late. The amount of cash on offer is usually much higher than what you receive with credit cards or other financial products because a home loan is so much of a bigger commitment. Some lenders offer you gift cards worth thousands of dollars or give you cash when you settle. You can choose to put these towards your home loan, or maybe even go on a spending spree to celebrate the purchase of your property.
Remember that selecting a home loan is a big decision and one that will be with you for a significant amount of time. You should consider cashback incentives for home loans as they are intended and that is a bonus. You need to consider interest rates, fees and the flexibility of the loan to see if it's suitable for your financial needs.
Compare the home loans currently offering bonus incentives or cashback
Other products that offer cashback incentives
There are a number of other financial products and services that lender's offer cashback incentives for. A popular offer is a package deal, where if you package certain products together you will receive discounts and cashback rewards. For example, if you sign up for a credit card the lender may offer you a cashback reward for also getting a transaction or savings account with them. These packages benefit lenders because it means you will have more products with them and these deals also may benefit you because of the convenience of having all your products in one place and also through savings.
You should check all of the fees and charges associated with each product in the package before you sign up for one of these incentives. You should calculate the fees and charges of all the products and take that into consideration when deciding if the deal is worth it for you.
You may also be interested in
Will savings account interest rates go up in 2022?
One bank has already raised the bonus interest rate on its savings account – and more banks could do the same throughout the year.
Read more…
The surprising benefits of using a mobile wallet
This bad habit is costing you over $1,000 a year
We're wasting 11% of the food we buy, and it's hurting our bank balance as well as the planet.
Read more…
In debt and dateless: 2.5 million Australians have been dumped for being poor
No savings, unpaid debt and poor financial knowledge have all led to Australians getting dumped, according to new research by Finder.
Read more…
Shopping online during lockdown? 6 ways to be savvy
Picture: Shutterstock
More guides on Finder
- Ubisoft’s NFT promise: ‘We won’t force our players to use Quartz’
In an exclusive interview with Finder, VP of Strategic Innovations Lab, Nicolas Pouard, spells out he future of Ubisoft's NFTs
- 2022 BMW 8 Series adds tweaked looks and extra tech ahead of mid-year launch
BMW Australia's 8 Series range is set to receive an update for the 2022 model year with slightly refreshed styling and additional tech headlining the updates for its flagship luxury sports model.
- Share market sell-off won’t change winners and losers
The current market sell-off is providing an opportunity for investors to pick up structural winners at a discount, two industry experts say.
- Where to watch The Fallout online in Australia
Recovering from trauma is a lengthy process.
- Ubisoft responds to angry NFT Digits and Quartz reaction – Interview
We talk to Nicolas Pouard, VP at Ubisoft's Strategic Innovations Lab, about the launch of Ubisoft Quartz and the Digits NFTs
- Westpac expects to jack your mortgage up 6 times in 2 years: Why?
Westpac predicts 6 mortgage rate rises before Christmas 2023. If they’re on the money, how much would this cost mortgage-holders?
- The Great Australian Bake Off: How to watch the new season online
On your marks, get set, bake!
- Travel insurance COVID: Does it cover hotel quarantine?
Hotel quarantine could cost you thousands unless you get the right travel insurance policy.
- Lower credit card limits didn’t change my credit score… Why?
Your credit limits can affect your credit score and your chance of approval, but it's not always as simple as changing one to improve the other.