Updated July 2025 by Finder's 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)
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
Competitive purchase interest rate of 13.99% p.a.
Finder Score of 9.9 in the cashback category
Cashback offer could make it tempting to spend more than usual
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 8.77 in the cashback category.
Pros & cons
Up to $350 cashback offer
Low ongoing 13.74% p.a. purchase rate
Free additional cardholder
$0 first-year annual fee for existing customers
No rewards program
No additional perks like insurance covers or travel benefits
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.
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! "
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 $600 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.
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.
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.
Richard Whitten is Finder’s Money Editor, with over seven years of experience in home loans, property 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 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 Graduate Certificate in Communications from Deakin University. See full bio
Richard's expertise
Richard has written 639 Finder guides across topics including:
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 531 Finder guides across topics including:
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