What is the difference between a rewards credit card and a cashback credit card?

A cashback credit card offers you rewards in the form of statement credits or vouchers when you meet a spend requirement, or for ongoing eligible spending. Sometimes, you can get a cashback offer on a credit card with ongoing low rates and low or $0 annual fees that aren't typically available with cards that offer ongoing rewards. Standard rewards credit cards offer points for each $1 of eligible spending, which you can redeem for travel, retail items, gift cards, cashback and more.

How much cash can I expect to get back when I spend?

You can typically get between $10 and $500 from an introductory cashback offer when you meet the spend requirements. For credit cards that offer ongoing cashback, it's usually between 0.49% and 1% of each eligible transaction. While these are 2 of the most common types of cashback on credit cards, there are sometimes other promotions that could offer different amounts. For example, a card that has personalised cashback offers with retail partners could offer you $10 back when you spend $30 with the retailer.

Can I use cashback to pay the annual fee or my credit card debt?

Yes, you can generally use cashback rewards to pay your card's annual fee or the outstanding balance of a credit card if you redeem it through a rewards program. But if you get cashback as a credit on your account, you usually still need to make a minimum payment on your account by the statement due date to avoid late payment fees.

Who can apply for a cashback credit card? And how do I apply?

Anyone who meets the eligibility requirements for a cashback credit card can apply. These requirements vary between cards, but you can usually expect the following: Eligibility requirements Age. You need to be at least 18 years old to apply for a credit card in Australia. Residency status. Most lenders require you to be a permanent Australian resident or citizen, though some do offer products to specific visa holders . Income requirements. Some cards list a minimum income amount that you need to earn before you can apply, others require you to earn a regular income. There are also cards that don't list an income requirement – but even then you'll need to include details about your money when you apply. Credit card eligibility requirements are usually listed on individual card pages, as well as at the start of an online application. Make sure you read them before you apply to help save you time. How to apply You can apply online in around 10-20 minutes. Before applying, make sure you meet the eligibility requirements and have the necessary documents needed to complete your application. You'll need to provide proof of identification, proof of income and some additional information about your finances. Once you have completed and submitted your application, you'll usually receive a response from the credit card provider within 60 seconds. If you're approved, you'll receive your card in the mail within 1-2 weeks.

Best cashback credit cards

8 of 28 results

Finder Score	Cashback	Rewards program	Purchase rate p.a.	Annual fee
Finder score 8.3 Great Latitude 28° Global Platinum Mastercard Latitude Rewards	Finder score 8.3 Great	Cashback up to $240	Rewards Program Latitude Rewards	Purchase rate p.a. 27.99%	Annual fee $0 first year ($96 after)	$260 bonus Latitude Rewards if you spend $2,000+ in the first 3 months & reward of up to $240 each year on eligible international transactions. $0 first-year annual fee. T&Cs apply. New customers only, must be approved by 26 February 2026.	Go to site More info Compare product selection Compare	loading
Finder score 9.4 Excellent ANZ Platinum Credit Card	Finder score 9.4 Excellent	Cashback $450	Rewards Program N/A	Purchase rate p.a. 20.99%	Annual fee $0 first year ($87 after)	Earn $450 back to your new card when you spend $4,500 on eligible purchases in the first 4 months from approval. Plus, a $0 annual fee in the first year.	Go to site More info Compare product selectionCompare	loading
Finder score 9.3 Excellent ANZ Low Rate - Credit Back Offer	Finder score 9.3 Excellent	Cashback $400	Rewards Program N/A	Purchase rate p.a. 13.74%	Annual fee $58	Get $400 back on your card when you spend $5,000 on eligible purchases in the first 6 months from approval.	Go to site More info Compare product selectionCompare	loading
Finder score 9.5 Excellent NAB Low Rate - Cashback Offer Most Loved	Finder score 9.5 Excellent	Cashback $400	Rewards Program N/A	Purchase rate p.a. 13.49%	Annual fee $59	Offers $400 cashback when you spend $5,000 on everyday purchases within the first 150 days.	Go to site More info Compare product selectionCompare	loading
Finder score 5 Standard ANZ Rewards Black Credit Card Finder AwardANZ Rewards Program	Finder score 5 Standard	Cashback $100	Rewards Program ANZ Rewards Program	Purchase rate p.a. 20.99%	Annual fee $375	Earn up to 180,000 extra ANZ Reward Points: 130,000 extra points + $100 back when you spend $5,000 on eligible purchases in the first 3 months from approval, and additional 50,000 points when you keep your card for over 15 months from activation.	Go to site More info Compare product selectionCompare	loading
Finder score 4.6 Basic ANZ Rewards Platinum ANZ Rewards Program	Finder score 4.6 Basic	Cashback $50	Rewards Program ANZ Rewards Program	Purchase rate p.a. 20.99%	Annual fee $149	Earn up to 125,000 bonus ANZ Reward Points: 85,000 points + $50 back when you spend $3,500 in the first 3 months from approval and 40,000 points when you keep your card open for 15 months from activation.	Go to site More info Compare product selectionCompare	loading
Finder score 4.3 Basic ANZ Rewards Platinum - Velocity Points ANZ Rewards Program	Finder score 4.3 Basic	Cashback $50	Rewards Program ANZ Rewards Program	Purchase rate p.a. 20.99%	Annual fee $149	Earn up to 80,000 bonus Velocity Points: 60,000 points + $50 back when you spend $3,500 in the first 3 months from approval and 20,000 points when you keep your card open for 15 months from activation.	Go to site More info Compare product selectionCompare	loading
Finder score 4 Basic American Express Velocity Escape Plus Card Most LovedVelocity Frequent Flyer	Finder score 4 Basic	Cashback $50	Rewards Program Velocity Frequent Flyer	Purchase rate p.a. 23.99%	Annual fee $95	Get 30,000 bonus Velocity Points when you spend $3,000 on eligible purchases in the first 3 months, plus a $50 Virgin Australia Statement Credit. New American Express card members only. T&Cs apply.	Go to site More info Compare product selectionCompare	loading

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Showing 7 of 7 results

Finder's best cashback credit card offers in December

Here are the top credit cards with cashback offers based on their Finder Scores:

The St.George Vertigo Card - Cashback Offer has a Finder Score of 9.9.
The Bank of Melbourne Vertigo Card - Cashback Offer has a Finder Score of 9.9.
The BankSA Vertigo Card - Cashback Offer has a Finder Score of 9.9.
The BCU Rewards credit card has a Finder Score of 9.78.
The NAB Low Rate - Cashback Offer has a Finder Score of 9.47.
The CommBank Low Rate Credit Card has a Finder Score of 9.43.
The Westpac Low Rate Card - Cashback Offer has a Finder Score of 8.97.

Updated December 2025 by Finder's senior money editor, Richard Whitten.

The lowdown on the cashback credit cards Finder Score

The Finder Score helps you sort the junk from the gold so you can compare products faster.

Each month we carefully analyse over 250 credit card products and assess nine features and benefits of each card.

We assign scores out of 10 for each feature, and adjust the scores depending on what category we're looking at. The same card will receive a different score within each category, depending on the features being assessed.

For cashback credit cards, we focus heavily on the quality of the cashback being offered, along with rates and fees.

To qualify for this category, credit cards must:

Offer some form of cashback on spending. Where cashbacks are based on a % value of spend, we use an average monthly spend derived from RBA figures.

The Finder Score methodology is designed by our insights and editorial team. Commercial partners carry no weight, and all products are reviewed objectively.

Remember that Finder Score is just one factor to consider. Look at other aspects like fees, features, benefits and risks to make sure a product is suitable for you.

Cashback credit cards - score weightings

Feature	Definition	Assessment	Weight
Cashback Value	The value of cash returned per dollar spent	Higher cashback rewards result in higher scores	60%
Purchase Rate	Interest rate on new purchases	Lower rates receive higher scores (up to 22.49% max)	15%
First-Year Fee	Fee charged for the first year of card ownership	Lower fees receive higher scores ($0 fee scores highest)	10%
Ongoing Annual Fee	Fee charged from the second year onwards	Lower fees receive higher scores ($0 fee scores highest)	5%
Earn Rate	Points earned for every dollar spent on eligible purchases	Points awarded per dollar (up to 1.5)	2%
Balance Transfer Intro Period	The length of the balance transfer period	Longer periods are awarded higher scores	2%
Balance Transfer Intro Rate	The rate applied to balance transfers	Lower rates receive higher scores (up to 22.99% max)	2%
Balance Transfer Revert Rate	The interest rate charged after the BT period ends	Lower rates receive higher scores (up to 22.99% max)	2%
Travel Insurance	Travel insurance offered with card	Cards that include travel insurance receive the full 10 points	2%

Breaking down the score tiers

9+ Excellent - These cards offer the highest cash returns with the lowest interest rates.
7+ Great - Reasonable ongoing purchase rates and cashback offers.
5+ Satisfactory - These cards offer some value in return for spending.
Less than 5 – Basic - These are generally cards targeted at a consumer segment, with cashback as a feature.

Highest cashback credit card offer

St.George Vertigo Card - Cashback Offer

Up to $500 Cashback Offer
$55 Annual fee
13.99% Purchase rate

Read review

Why we like it

With this card you'll get 10% cashback when you shop at major supermarkets and petrol stations for the first 180 days, capped at a total of $500.

This is also a low rate card, and both the 13.99% p.a. interest rate for purchases and the $55 annual fee are quite competitive compared to similar offers on the market.

Pros & cons

Up to $500 cashback offer
Low $55 annual fee
Shopping cashbacks through ShopBack

Cashback offer could make it tempting to spend more than usual
No rewards program
Does not offer travel perks or insurance covers

Best low rate cashback credit card

Westpac Low Rate Card - Cashback Offer

Up to $350 Cashback
$59 Annual fee
13.74% Purchase rate

Read review

Why we like it

With this card you can get up to $350 cashback. This is awarded as $50 for every month you spend $1,000 on eligible purchases for the first 7 statement periods. So if you miss the spend requirement in one month, you can still earn the cashback in later months. The $59 annual fee is competitive for a low rate credit card.

This card has a Finder Score of 8.97 in the cashback category.

Pros & cons

Up to $350 cashback offer
Low ongoing 13.74% p.a. purchase rate
Free additional cardholder

No rewards program
No additional perks like insurance covers or travel benefits

Video: How to get cash back on your credit card

1:28

Types of cashback credit card offers

A cashback credit card gives you money back on your statement or vouchers for your spending.

The most common cashback offers are:

Earning cashback per $1 spent on the card. Some cards offer a 1% cashback on your spending. So if you spend $2,000 in a month you'd earn $20 cashback. These cashbacks are typically capped to a certain dollar amount each month.
Promotional sign-up cashbacks. New customers can sometimes get a one-time cashback (often worth several hundred dollars) if they spend a certain amount in the first month or two after activating the card.

You can also convert reward points to cashback

Most rewards credit cards give you the option to convert your reward points into cashback. You can convert 1,250 ANZ Reward Points to a $5 cashback, for example.

The CommBank Yello Cashback Offers program gives people with an eligible Commonwealth Bank credit card or debit card access to cashback offers through the CommBank app. And people with a Westpac credit card can get cashback offers through Westpac Extras.

Want ongoing cashback as you spend?

Several credit cards on that market give you back a percentage of your regular spending ongoing: the BCU Rewards Credit Card, ING Orange One Rewards Platinum and the Queensland Country Bank Visa My Rewards Card.

BCU limits your cashback amount to $500 a year and ING limits the cashback amount to $30 a month or $360 a year. Queensland Country Bank reward dollars are capped at $70 per month or $840 a year.

The pros and cons of cashback credit cards

Pros

Simplicity. Unlike rewards credit cards, where figuring out the value of rewards can be complicated, cash back rewards are straightforward.
Usefulness. Cash or statement credits are a practical and versatile reward. If it's money you were going to spend anyway, the cashback is a nice bonus.
Other perks. Credit cards with cashback promotions may offer other features like complimentary travel insurance or airport lounge passes.

Cons

Annual fees. Most cards charge an annual fee. Most cashback cards have lower annual fees than frequent flyer or rewards cards though.
High interest rates. If you often carry a balance, the cost of interest could outweigh any cashback rewards that you earn from the card.
Capped rewards. Most cards cap the number of times you can redeem a cashback offer or limit how much of your spending will earn cash back.

Our expert says: Are cashback credit cards worth it?

"I think of cashbacks as a nice little benefit that some cheaper, low rate credit cards offer. The cashback usually outweighs the annual fee but overall it's not the biggest card perk. If you get a more expensive points-earning card you could earn Qantas or Velocity Points worth thousands of dollars. Of course, these cards are for bigger spenders. And some cards offer both a cashback and frequent flyer points! "

Richard Whitten

Senior Money Editor

How can I compare cashback credit cards?

As with all credit cards, make sure you compare and understand the rates, fees and standard features. If you are interested in getting a credit card with cash back rewards, here are some other specific details to compare:

Check the introductory offer requirements. If a card offers $200 cashback when you spend $3,000 on eligible purchases in the first 3 months, make sure you can realistically meet that spending requirement. Otherwise you won't qualify for the cashback.
Is the cashback amount worth it? Look at the value of the cash rewards you'll collect versus the card's overall cost. If the value of the cashback isn't worth it, you might find a $0 annual fee or an interest free credit card with a 0% purchase rate offer more suitable for you.
Remember that percentage cashback spend offers are usually capped. Most cashback cards have a limit on how much value you can get back. You could get 1% cashback on your spending, but with a limit of $30 back per month. No matter how much you spend, your cashback will only ever earn you $30 a month or $360 a year.
Rewards value. If you have a rewards credit card that offers cash back and other types of rewards (such as flights, travel upgrades or merchandise), you can check to see if there are rewards that have a higher retail or regular price value than the cashback amount.

How to decide if a cashback credit card is worth it

Let's say you get a credit card that offers 1% cashback on everyday purchases. The card also has a $150 annual fee.

If you spent $3,000 per month on this card: You would earn $30 cash back per month, or $360 per year. If you take the cost of the annual fee out, you would get $210 value from cash back rewards over that year.
But if you only spent $1,000 per month on this card: You would earn $120 cash back in a year. That is $30 less than the $150 annual fee.

In this example the card could still be worth it, if you get other benefits from it like points or complimentary travel insurance. But for the cashback alone it's not worth it.

Frequently asked questions

A cashback credit card offers you rewards in the form of statement credits or vouchers when you meet a spend requirement, or for ongoing eligible spending. Sometimes, you can get a cashback offer on a credit card with ongoing low rates and low or $0 annual fees that aren't typically available with cards that offer ongoing rewards.
Standard rewards credit cards offer points for each $1 of eligible spending, which you can redeem for travel, retail items, gift cards, cashback and more.
You can typically get between $10 and $500 from an introductory cashback offer when you meet the spend requirements. For credit cards that offer ongoing cashback, it's usually between 0.49% and 1% of each eligible transaction.
While these are 2 of the most common types of cashback on credit cards, there are sometimes other promotions that could offer different amounts. For example, a card that has personalised cashback offers with retail partners could offer you $10 back when you spend $30 with the retailer.
Anyone who meets the eligibility requirements for a cashback credit card can apply. These requirements vary between cards, but you can usually expect the following:
Eligibility requirements
- Age. You need to be at least 18 years old to apply for a credit card in Australia.
- Residency status. Most lenders require you to be a permanent Australian resident or citizen, though some do offer products to specific visa holders.
- Income requirements. Some cards list a minimum income amount that you need to earn before you can apply, others require you to earn a regular income. There are also cards that don't list an income requirement – but even then you'll need to include details about your money when you apply.
Credit card eligibility requirements are usually listed on individual card pages, as well as at the start of an online application. Make sure you read them before you apply to help save you time.
How to apply
You can apply online in around 10-20 minutes. Before applying, make sure you meet the eligibility requirements and have the necessary documents needed to complete your application. You'll need to provide proof of identification, proof of income and some additional information about your finances.
Once you have completed and submitted your application, you'll usually receive a response from the credit card provider within 60 seconds. If you're approved, you'll receive your card in the mail within 1-2 weeks.

Sources

Thank you for your feedback!

Written by

Richard Whitten

Senior Money Editor

Richard Whitten is Finder’s Senior Money Editor, with over eight years of experience in home loans, property, credit cards and personal finance. His insights appear in top media outlets like Yahoo Finance, Money Magazine, and the Herald Sun, and he frequently offers expert commentary on television and radio, helping Australians navigate mortgages and property ownership. Richard started his career in education and textbook publishing in South Korea. He holds multiple industry certifications, including a Certificate IV in Mortgage Broking (RG 206) and Tier 1 and Tier 2 certifications (RG 146), as well as a Bachelor of Education from the University of Sydney and a Graduate Certificate in Communications from Deakin University. See full bio

Richard's expertise

Richard has written 687 Finder guides across topics including:

Home loans
Credit cards
Personal finance
Money-saving tips

Co-written by

Amy Bradney-George

Journalist

Amy is an experienced journalist with over 16 years of experience, contributing to major publications like Money Magazine, The Sydney Morning Herald, and ABC News Australia. Specialising in personal finance, she frequently appeared in media outlets and on radio. Amy holds a Bachelor of Arts in Journalism and Drama from Griffith University and earned RG146 certifications in Tier 1 Generic Knowledge and Tier 2 General Advice Deposit Products, ensuring her expertise is grounded in current financial regulations. Amy was Finder's Senior Writer for Credit Cards from 2016 to 2024. See full bio

Amy's expertise

Amy has written 505 Finder guides across topics including:

Credit cards
Frequent flyer
Credit score
BNPL
Money management
Sustainability

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Best cashback credit cards

Compare 20+ December 2025 offers ranked. Get paid to spend, win.

Finder's best cashback credit card offers in December