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Cashback credit cards

Earn money when you spend money with a cashback credit card.

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Cash in Wallet
A cashback credit card gives you cash in your pocket or credit on your statement whenever you spend money. In Australia, cashback credit cards will either offer an introductory bonus or give you back a set percentage of your regular spending. Use this page to learn about cashback credit cards and compare your options to see if one is right for you.

ANZ Credit Card Offer

ANZ Frequent Flyer Black

Earn up to 130,000 bonus Qantas Points
Get $150 back on your card

Eligibility criteria, terms and conditions, fees and charges apply

ANZ Credit Card Offer

Receive 100,000 bonus Qantas Points, $150 back and 75 Status Credits when you spend $3,000 in the first 3 months. Plus, complimentary lounge passes.

  • $425 annual fee | 20.24% p.a. purchase interest rate
  • Additional 30,000 bonus Qantas Points when you keep the card for over 12 months
  • 1 Qantas Point / $1 spent up to $7,500 per statement period, then 0.5 Qantas Points / $1 spent
  • Minimum credit limit of $15,000
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Compare cashback credit cards

Data indicated here is updated regularly
Name Product Purchase rate (p.a.) Interest Free Period Annual fee Balance transfer rate Balance transfer rate
ANZ Frequent Flyer Black
20.24% p.a.
Up to 55 days on purchases
$425 p.a.
20.24% p.a.
20.24% p.a.
Earn 100,000 bonus Qantas Points, 75 bonus Status Credits and $150 back when you spend $3,000 in the first 3 months with this premium card.
Bendigo Bank Low Rate Mastercard
0% for 15 months, reverts to 11.99% p.a.
Up to 55 days on purchases
$45 p.a.
11.99% p.a.
11.99% p.a.
Enjoy a 0% p.a. interest rate on purchases for the first 15 months and a $150 Woolworths gift card when you spend $3,000 in the first 90 days.
Skye Mastercard
23.99% p.a.
Up to 110 days on purchases
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
Get up to $300 cashback, 110 days interest-free on everyday purchases, 0% foreign transaction fees and flexible instalment plan options.
Kogan Money Black Card
20.99% p.a.
Up to 55 days on purchases
$0 p.a.
0% p.a. for 18 months with 1% balance transfer fee
0% p.a. for 18 months with 1% balance transfer fee
Save with a $0 annual fee and a 0% for 18 months balance transfer offer. Plus, earn up to $200 Kogan.com Credit and uncapped rewards points.
ANZ Frequent Flyer Platinum
20.24% p.a.
Up to 55 days on purchases
$295 p.a.
20.24% p.a.
20.24% p.a.
Receive 50,000 bonus Qantas Points & $195 back when you spend $2,000 on eligible purchases within 3 months.
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The finder.com.au list of cashback credit cards

Compare the features of the cashback credit cards below.

  • ANZ Frequent Flyer Black. Offers $150 cashback when you spend $3,000 on eligible purchases within the first 3 months from card approval.
  • Skye Mastercard. Receive up to $300 cashback (7.5% on eligible purchases, up to $100 cashback per month) for the first 3 months from account opening.
  • ING Orange One Platinum. Get 1% cashback on all eligible spending up to $30 each month, with a maximum cashback potential of $360 per year.

How do cashback cards work?

A cashback credit card gives you rewards in the form of dollars or credit on your account. 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 cashback rewards from your credit card below:

  1. Cashback when you make an eligible credit card purchase. If you make a credit card purchase of $1,000 and there is a 2% cashback promotion, the credit card provider will give you $20 back.
  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 within the first few months that you have the card.
  3. Using rewards points to get cash back. As well as using points for flights or merchandise, some credit card rewards programs let you redeem points for cashback on your account. Most reward programs also let you redeem points for gift cards that you can use to make purchases with specific brands or stores.

Is there a catch with cashback credit cards?

Just like other rewards credit cards, you need to meet the spending requirements or eligibility requirements to get a cashback reward from a credit card. For example, you might only get money back for eligible purchases, with common exclusions including cash advances, balance transfers and refunded purchases. Some cashback credit cards may also cap or limit the amount of money you can earn per month or year. Make sure you check the cashback reward details and read the card's product disclosure statement for more information.

How can I compare cashback credit cards?

If you are interested in getting a cashback credit card, here are the key details to look at when you're comparing different options:

  • The cashback amount.It will be easier to decide if you weigh the value of the cash rewards you can collect based on your spending habits against the amount you can save with the card's overall cost. If the value of the cash rewards are much lower, then you might find a $0 annual fee or 0% purchase rate card more suitable for you.
  • Reward caps. Some cashback cards limit the amount of money you can get from them. For example, you might be able to get 1% cashback per $1 spent but have a limit of up to $30 per month.
  • Introductory offer requirements. If a credit card has an introductory cashback offer, make sure you understand the terms and conditions before signing up. While offers do vary, some key details to look for include the offer expiry date, spending requirements and any participating retailers. If you are unsure about an offer's requirements, you can also ask the credit card provider for more information.
  • Ineligible transactions. While most everyday purchases are eligible to earn cashback rewards, transactions such as cash advances, bill payments, gambling transactions and credit card fees are usually ineligible. Check these details before you get a card to decide if it suits your spending habits.
  • Rewards value.If you have a rewards credit card and want to redeem its points for a cashback reward, check to see if it also includes other types of rewards (such as complimentary flights, travel upgrades or merchandise) that have a retail or regular price value that is higher than the cashback amount. This will help you get the most value out of your rewards.
  • Other card features. Make sure you also consider the card's standard variable purchase rate as well as any additional charges, fees and complimentary extras. Along with the rewards and annual fee, these features will help you decide if the card suits all your needs.

What are the pros and cons of cashback credit cards?

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

  • Money in your pocket. This type of reward offers you the chance to get money back when you pay with plastic.
  • Dollar value. Instead of earning points per dollar spent, cashback credit cards offer a straightforward dollar value for the rewards you earn.
  • Other extra features. Credit cards with cashback promotions may offer other features such as mobile payments, complimentary travel insurance and concierge services.

Cons

  • High annual fees. Credit cards with cashback rewards usually charge higher annual fees than no-frills credit cards. Ideally, the value you get back from the rewards should be higher than the annual fee.
  • Interest rates. If the cashback offer is a feature of a more premium product, you may find that it comes with higher interest rates. If you carry a balance, the cost of interest could outweigh any cashback that you earn from the card.
  • Limited rewards. Some cashback credit cards may have a cap on the number of times you can redeem a cashback offer. For example, some may only allow you to receive cash back on your account once, while other cards may give you a way to earn cashback up to a capped amount each month, for a set period of time.

How to apply for a cashback credit card

If you want to get a cashback credit card, you can apply online in around 10-20 minutes. Before you apply, make sure you meet the eligibility requirements and have the necessary documents needed to complete your application. These will vary from card to card, but you can usually expect the following:

Eligibility requirements

  • Age. Cardholders must be at least 18 years of age.
  • Residential status. Most credit cards require cardholders to be permanent Australian residents, though some do offer products to specific visa holders.
  • Minimum income. The minimum income requirement will vary between cards, but they usually start at $15,000 p.a. for low-income cards and between $60,000 and $100,000 for higher-tier products.

Documents and details

  • Proof of identification. You'll need to provide a copy of your driver's licence, Medicare card and/or passport for proof of identification.
  • Proof of income. You'll need to provide your employer's details as well as a recent tax return and/or your pay slips. If you're self-employed, you'll need to include your accountant's details.
  • Financial information. You will need to provide other information about your finances including debts, liabilities and expenses.

Once you have completed and submitted your application, you should 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. If the card has a cashback offer, you should read the terms and conditions for collecting cashback, and check how long it will take for the cashback to be credited to you when you meet the requirements.

If you're looking for a new credit card, one that offers cashback can give you extra value for your spending. But even though cashback offers can be rewarding, they also come with terms and conditions. So make sure you understand what these are and compare your options before you apply for the card.

Popular questions about using cashback credit cards

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10 Responses

  1. Default Gravatar
    CoreyOctober 26, 2018

    Could you help me narrow my search? Is there any credit cards at all I can qualify for whilst bankrupt

    • Default Gravatar
      JoelOctober 26, 2018

      Hi Corey,

      Thanks for leaving a question on finder.

      Payment defaults and bankruptcy are among the items on your credit report that could seriously hurt a credit card application. Instead of going down that route, perhaps a wiser move would be to consider your other credit options. Here are some alternatives you may find helpful:

      – Personal loans. Some providers may be willing to lend you money despite your bad credit history.
      – Cash advance loans. Also known as payday loans or bad credit loans, these are short-term loans of up to $2,000 with fixed fees.
      – Bank overdrafts. You may be able to get a personal overdraft from the bank because of your long banking history with them.
      – Debit card. Using a debit card instead of a credit card will ensure that you only spend money you have, which can help you work your way out of debt.
      – Low income credit card. If you meet the low income requirement, you could consider applying for a low income credit card with lower fees and interest rates. A credit check would still apply in most cases though.
      – Joint account credit card. Another way to get a credit card would be to apply for a joint account credit card with someone that has good credit history. They would be the primary applicant, but you could share their account.

      Please send me a message if you need anything else and I hope you get through this difficult time.

      Cheers,
      Joel

  2. Default Gravatar
    MarissaAugust 9, 2018

    Hi. I would like to be approved for a credit card but l have always been denied. l am a Centrelink recipient. Please let me know if I eligible for any low rate credit card with no annual fees?

    • Avatarfinder Customer Care
      JhezAugust 9, 2018Staff

      Hello Marissa,

      Thank you for your comment.

      Low rate credit card eligibility for pensioners depends on whether you meet the application requirements. Generally, the bank will request a specific minimum income per year. If your primary form of income is through Centrelink benefits, contacting the bank to determine whether Centrelink qualifies as a form of income would be ideal.

      The credit cards listed on this page are designed for pensioners and it has a table with the list of providers who consider Centrelink payments as an income. Click the name of the provider to see more details about the feature of the credit card.

      Please make sure though to read the eligibility criteria, features and details of the card, as well as the relevant PDS/ T&Cs of the card before making a decision and consider whether the product is right for you.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

      Regards,
      Jhezelyn

  3. Default Gravatar
    ejayApril 27, 2016

    Did i get approved?

    • Avatarfinder Customer Care
      SharonApril 27, 2016Staff

      Hi Ejay,

      Thanks for your inquiry.

      Please note that you have reached finder.com.au, an online comparison service, and is not directly connected with any credit card issuer. For the status of your application, you may get in touch with the bank directly. You may also check our review on how to check on your credit card application.

      I hops this helps.

      Sharon

  4. Default Gravatar
    NatSeptember 30, 2014

    Can i transfer several card balances of under $5 each onto to 1 of these single prepaid woolworths money cards plz?

    • Avatarfinder Customer Care
      ElizabethSeptember 30, 2014Staff

      Hi Nat,

      Thanks for your question.

      This will depend on whether all of these cards are yours or not. It might be best to get in contact with Woolworths directly to see if this will be possible with your account.

      Thanks,

      Elizabeth

  5. Default Gravatar
    annApril 7, 2014

    How do I redeem money for cash back? I paid for my PC on my Westpac credit card.

    • Avatarfinder Customer Care
      JacobApril 7, 2014Staff

      Hi, Ann.

      I’m not sure I understand the question. Can you please elaborate on what you’re looking for and the product you used to make the purchase. ‘

      Thanks for your question.

Credit Cards Comparison

Data indicated here is updated regularly
Name Product Purchase rate (p.a.) Balance transfer rate Annual fee
HSBC Platinum Credit Card - Balance Transfer Offer
19.99% p.a.
0% p.a. for 22 months
$129 p.a.
Save with a 22-month balance transfer offer. Plus, lounge passes, travel insurance and an annual fee refund when you spend an eligible $6k/year.
ANZ Low Rate
12.49% p.a.
0% p.a. for 22 months with 1.5% balance transfer fee
$0 p.a. annual fee for the first year ($58 p.a. thereafter)
Save with 0% p.a on balance transfers for 22 months (with a 1.5% BT fee) and $0 first year annual fee. Plus a 12.49% p.a. purchase interest rate.
Bankwest Zero Platinum Mastercard
17.99% p.a.
2.99% p.a. for 9 months
$0 p.a.
Offers a $0 annual fee, 0% foreign transaction fees, complimentary international travel insurance and a balance transfer offer.
ANZ Frequent Flyer Black
20.24% p.a.
20.24% p.a.
$425 p.a.
Earn 100,000 bonus Qantas Points, 75 bonus Status Credits and $150 back when you spend $3,000 in the first 3 months with this premium card.
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* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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