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Best cashback credit cards – 15+ offers ranked (ka-ching!)

Get paid to spend with cashback credit card options that all give you a little dime back for your dollar.

Name Finder Score Cashback Rewards program Purchase rate p.a. Annual fee
St.George Vertigo Card - Cashback Offer
St.George Vertigo Card - Cashback Offer image
Finder score
9.8
Cashback
$400
Rewards Program
N/A
Purchase rate p.a.
13.99%
Annual fee
$55
Go to siteMore Info
Get up to $400 cashback at eligible supermarkets and petrol stations in the first 180 days. Plus, a low interest rate for purchases.
Westpac Low Rate Card - Cashback Offer
Westpac Low Rate Card - Cashback Offer image
Finder score
9.2
Cashback
$350
Rewards Program
N/A
Purchase rate p.a.
13.74%
Annual fee
$59
Go to siteMore Info
A no-frills card offering up to $350 cashback: $50 each month you make at least $1,000 of eligible purchases for the first 7 months.
ANZ Platinum Credit Card
ANZ Platinum Credit Card image
Finder score
8
Cashback
$300
Rewards Program
N/A
Purchase rate p.a.
20.99%
Annual fee
$0 first year ($87 after)
Go to siteMore Info
Get $300 back on your card when you spend $1,500 on eligible purchases in the first 3 months and a $0 first-year annual fee. Plus, complimentary overseas travel insurance.
ANZ Low Rate - Credit Back Offer
ANZ Low Rate - Credit Back Offer image
Finder score
8.3
Cashback
$250
Rewards Program
N/A
Purchase rate p.a.
13.74%
Annual fee
$58
Go to siteMore Info
Get $250 back on your card when you spend $1,500 on eligible purchases in the first 3 months.
American Express Qantas Business Rewards Card
American Express Qantas Business Rewards Card image
Qantas Business Rewards
Finder score
6.6
Cashback
$200
Rewards Program
Qantas Business Rewards
Purchase rate p.a.
0%
Annual fee
$450
Go to siteMore Info
(ABN holders w/ $75k revenue). Earn 150,000 bonus Qantas Points and a $200 credit when you spend $6,000 in the first 3 months.
ANZ Rewards Platinum
ANZ Rewards Platinum image
ANZ Rewards Program
Finder score
1.8
Cashback
$50
Rewards Program
ANZ Rewards Program
Purchase rate p.a.
20.99%
Annual fee
$149
Go to siteMore Info
Get 100,000 bonus ANZ Reward Points (worth $440 in eGift cards) and $50 back when you spend $2,000 on eligible purchases in the first 3 months.
ANZ Rewards Black Credit Card
ANZ Rewards Black Credit Card image
Finder Award
ANZ Rewards Program
Finder score
4.1
Cashback
$150
Rewards Program
ANZ Rewards Program
Purchase rate p.a.
20.99%
Annual fee
$375
Go to siteMore Info
Get 180,000 bonus ANZ Reward Points (worth $800+ in digital gift cards) and $150 back when you spend $3,000 in the first 3 months.
Citi Premier Card - Cashback Offer
Citi Premier Card - Cashback Offer image
Citi Rewards Program
Finder score
10
Cashback
$600
Rewards Program
Citi Rewards Program
Purchase rate p.a.
21.49%
Annual fee
$300
More Info
Receive $600 cashback when you spend $2,000 through Apple Pay, Google Pay or Samsung Pay in the first 3 months.
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Showing 8 of 8 results

Finder's best cashback credit card offers

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

Updated July 2024 by Finder's money editor, Richard Whitten.

The lowdown on 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 300 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.

Credit card scores are category-specific (e.g. low rate, balance transfer). The same card will receive a different score within each category, depending on the features being assessed. This methodology ensures a fair and relevant evaluation of each card.

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 the RBA.

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

Our intention is to enable informed financial decision-making without the need to analyse mountains of data yourself. But there is no best pick for everyone. We encourage you to consider your own financial circumstances when making a financial decision.

Cashback credit cards - score weightings

FeatureDefinitionAssessmentWeight
Cashback ValueThe value of cash returned per dollar spentHigher cashback rewards result in higher scores60%
Purchase RateInterest rate on new purchasesLower rates receive higher scores (up to 21.24% max)15%
First-Year FeeFee charged for the first year of card ownershipLower fees receive higher scores ($0 fee scores highest)10%
Ongoing Annual FeeFee charged from the second year onwardsLower fees receive higher scores ($0 fee scores highest)5%
Earn RatePoints earned for every dollar spent on eligible purchasesPoints awarded per dollar (up to 1.5)2%
Balance Transfer Intro PeriodThe length of the balance transfer periodLonger periods are awarded higher scores2%
Balance Transfer Intro RateThe rate applied to balance transfersLower rates receive higher scores (up to 21.99% max)2%
Balance Transfer Revert RateThe interest rate charged after the BT period endsLower rates receive higher scores (up to 22.24% max)2%
Travel InsuranceTravel insurance offered with cardCards that include travel insurance receive the full 10 points2%

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

Citi Premier Card - Cashback Offer

  • $600 Cashback
  • $300 Annual fee
  • 21.49% Purchase rate

Pros & cons

  • $600 cashback
  • Annual fee of $150 in each subsequent year when you meet the spend requirement
  • 2 airport lounge visits per year with complimentary Priority Pass membership
  • Complimentary travel insurance and purchase protection insurance
  • 1 Citi Rewards Point per $1 spent
  • High standard annual fee of $300
  • High 21.49% p.a. interest rate for purchases
  • High 3.4% foreign transaction fee

Why we like it

The Citi Premier Card - Cashback Offer has the highest cashback offer on the market. You can get up to up to $600 cashback when you spend $2,000 in the first 3 through Apple Pay, Google Pay or Samsung Pay. What more can we say?
This card has a Finder Score of 10 in the cashback category.

Best low rate cashback credit card

Westpac Low Rate Card - Cashback Offer

  • Up to $350 Cashback
  • $59 Annual fee
  • 13.74% Purchase rate
Ends on 31 July 2024

Pros & cons

  • Up to $350 cashback offer
  • $0 first-year annual fee for existing customers
  • Free additional cardholder
  • No rewards program
  • No additional perks like insurance covers or travel benefits

Why we like it

  • Offers 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. And the low $500 minimum credit limit means you can choose to put controls on your spending.
  • You'll get up to 55 days interest-free on new purchases when you pay the required amount in full by the payment due date.

Best all round cashback offer

St.George Vertigo Card - Cashback Offer

  • Up to $400 Cashback Offer
  • $55 Annual fee
  • 13.99% Purchase rate
Ends on 31 July 2024

Pros & cons

  • Up to $400 cashback offer
  • A low ongoing annual fee
  • Shopping cashbacks through ShopBack
  • Competitive purchase interest rate of 13.99% p.a.
  • Additional cardholder at no extra cost
  • Cashback offer could make it tempting to spend more than usual
  • No rewards program
  • Does not offer travel perks or insurance covers

Why we like it

  • Offers up to $400 cashback. You'll get 10% cashback as a statement credit when you shop at major supermarkets and petrol stations for the first 6 months (capped at $400 back).
  • Both the 13.99% p.a. interest rate for purchases and the $55 annual fee are competitive for a low rate credit card.
  • A low $500 minimum credit limit means you can choose to put controls on your spending.

Types of cashback credit card offers

A cashback credit card gives you money back on your statement or vouchers for your spending. This gives you more flexibility compared to earning reward points, because you can use cash on just about anything.

In Australia, most cashback credit cards offer a one-time bonus of credit back to your statement when you meet a certain spend requirement.

A cashback credit card gives you rewards in the form of dollars, credit on your account or vouchers. These offers vary between cards, with some earning cashback instead of rewards points per $1 spent and others providing a one-time cashback reward offer for new customers. We've outlined the three main ways you can get cash back below:

  1. Cashback per $1 when you make an eligible purchase. For example, if you make a $1,000 purchase on a credit card that offers 2% cashback, you would get $20 back from the credit card provider.
  2. Promotional offers on sign-up. Some cards have a cashback promotion for new customers. These offers usually require you to apply before a set date and spend a specific amount in the first few months that you have the card. With these offers, the cash back could be in the form of credit to your account, a voucher or a gift card you can spend at select locations.
  3. Rewards points you can use to get cash back. If your credit card earns points per $1 spent, you could redeem them for credit back to your account or gift cards. Most rewards credit cards give you one or both of these options, along with other rewards such as flights or merchandise.

Some credit cards also offer cashback promotions to existing cardholders when they spend with partnered brands – even if you don't have an actual rewards credit card.

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?

According to Finder's database, there are 4 credit cards on that market that give you back a percentage of your regular spending ongoing: the BCU Rewards Credit Card, Bank of Sydney Platinum Mastercard, ING Orange One Rewards Platinum and the Queensland Country Bank Visa My Rewards Card.

These cards offer equivalent cashback rates of between 0.66% and 1% per $1 spent, with different limits. for example, BCU limits your cashback amount to $500 a year and ING limits the cashback amount to $30 a month.

The pros and cons

If you're thinking about getting a cashback credit card, weighing up the following pros and cons can help you decide if it's worth it for you:

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.
  • Other perks. Credit cards with cashback promotions may offer other features like complimentary travel insurance or airport lounge passes.

Cons

  • High annual fees. These cards usually charge higher annual fees than other basic rewards or no-frills credit cards available on the market.
  • 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. Some cards cap the number of times you can redeem a cashback offer or limit how much of your spending will earn cash back.

Cashback cards provide a tangible advantage by effectively replenishing your wallet. However, it's crucial to avoid overspending just to chase rewards. The true art here is striking a delicate balance – reaping cashback benefits while maintaining responsible spending practices.

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:

  • Introductory offer requirements

    If a credit card has an introductory cashback offer, make sure you understand the spend criteria before applying.

    For example, if a card offers $200 cashback when you spend $3,000 on eligible purchases in the first 3 months, make sure that's realistic before you apply.

  • The cashback amount

    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.

  • Reward limits

    Some cashback cards have a limit on how much value you can get back. For example, you might be able to get 1% cashback but have a limit of $30 back per month. If you often spend more than $3,000 per month, you're not going to be able to maximise your rewards with that card.

  • 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 card is worth it

The potential value of a cashback rewards card depends on the amount of cash or credit offered, the cost of the card and how often you use it. Let's say you get a credit card that offers 1% cashback on everyday purchases and 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 scenario, so you would be spending more on the card than what you earned from cash back rewards. This doesn't necessarily mean that the card isn't valuable, but you'd have to make sure you get at least $30 worth of value from the other features.

The bottom line? The value you get from any credit card offer depends on your personal spending habits and card preferences.

Frequently asked questions

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Editor

Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206), a Tier 1 Generic Knowledge certification and a Tier 2 General Advice Deposit Products (RG 146) certification. See full bio

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Richard has written 526 Finder guides across topics including:
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Editor

Amy Bradney-George was the senior writer for credit cards at Finder, and editorial lead for Finder Green. She has over 16 years of editorial experience and has been featured in publications including ABC News, Money Magazine and The Sydney Morning Herald. See full bio

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Amy has written 596 Finder guides across topics including:
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