Cashback credit cards

Get money for spending money? It’s not too good to be true with a credit card that offers cash back.

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While some credit cards reward you with points, a cashback card offers the ultimate flexibility by giving you money back on your statement or vouchers for your spending.

In Australia, cashback credit cards will either offer an introductory bonus or give you back a set percentage of your regular spending. Compare your options and choose the card that will offer you the most value.

Citi Credit Card Offer

Citi Clear Card

0% p.a. for 15 months on balance transfers
$250 cashback

Offer ends 31 August 2021

Eligibility criteria, terms and conditions, fees and charges apply

Citi Credit Card Offer

Save with a discounted first-year annual fee and 15-month 0% balance transfer offer. Plus, earn $250 cashback.

  • $250 cashback when you spend $3,000 within the first 90 days
  • 0% p.a. for 15 months on balance transfers, with no BT fee
  • $49 annual fee for the first year ($99 p.a. thereafter)
  • Purchase interest rate of 14.99% p.a. | Cash advance rate of 22.24% p.a.
  • Purchase cover insurance, extended warranty insurance, and a guaranteed pricing scheme
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Compare cashback credit cards

The cashback offers below come in the form of statement credits, gift cards or vouchers. Click on the 'i' circle in the Cashback column for more details about each offer.

Name Product Cashback Rewards program Purchase rate Annual fee
Citi Clear Card
14.99% p.a.
$49 annual fee for the first year ($99 p.a. thereafter)
Get $250 cashback when you spend $3,000 within the first 90 days. Plus, a 0% balance transfer offer and first-year annual fee discount.
ANZ Frequent Flyer Black
Qantas Frequent Flyer
20.24% p.a.
Collect 120,000 bonus Qantas Points and $200 back when you spend $3,000 in the first 3 months. Plus, complimentary lounge passes.
Citi Rewards Card - Points & Gift Card Offer
Citi Rewards Program
21.49% p.a.
$49 annual fee for the first year ($149 p.a. thereafter)
Receive 90,000 bonus Citi reward Points (worth $400 in gift cards) and a $100 Coles eGift Card when you spend $3,000 in the first 90 days.
Kogan Money Black Card - Exclusive Offer
Kogan Rewards Program
20.99% p.a.
Finder Exclusive
Save with a $0 annual fee and a 0% introductory rate on balance transfers. Plus, earn $50 Credit and uncapped rewards points.
St.George Vertigo Platinum - Cashback Offer
12.99% p.a.
Get $300 cashback when you spend at least $900 in the first 90 days. Plus, platinum perks and a low purchase rate. Ends 30 June 2021.
Bank of Melbourne Vertigo Platinum - Cashback Offer
12.99% p.a.
Get $300 cashback when you spend at least $900 in the first 90 days. Plus, a low ongoing purchase interest rate. Ends 30 June 2021.
American Express Cashback Credit Card
20.74% p.a.
Earn 1% cashback per $1 dollar spent on your everyday purchases. Plus, an additional 5% for the first 3 months (up to $200).
BankSA Vertigo Platinum - Cashback Offer
12.99% p.a.
Enjoy a $300 cashback when you spend at least $900 in the first 90 days. Plus, a low ongoing purchase interest rate. Ends 30 June 2021.

Compare up to 4 providers

Types of cashback credit card offers

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 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. Using rewards points 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.

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:


  • Simplicity. Unlike rewards credit cards, where figuring out the value of rewards can be complicated, cash back rewards are straightforward.
  • Usefulness. There's no denying that cash or statement credits are the most versatile reward you can get.
  • Other perks. Credit cards with cashback promotions may offer other features like complimentary travel insurance or airport lounge passes.


  • 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.

How can I compare cashback credit cards?

If you are interested in getting a credit card with cash back rewards, here are the key details to look at when you're comparing your options:

  • 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 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 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.
  • Introductory offer requirements. If a credit card has an introductory cashback offer, make sure you understand the spend criteria before you apply. So, if the criteria say: "Get $150 back on your card when you spend $3,000 within the first 3 months of card approval", that tells you how much you'd need to spend and the timeframe for spending it in order to get the cash back. If the offer is for a gift card or voucher, you should also check where you'll be able to spend it.
  • Ineligible transactions. While most everyday purchases are eligible to earn cashback rewards, transactions such as cash advances, bill payments and balance transfers are usually ineligible. If there are particular expenses you want to use the card for, check the fine print or contact the credit card provider to see if you will earn cashback for them.
  • 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. 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.

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 a card.

  • How to decide if a cashback card is worth it

The potential value of a cashback rewards card depends on the amount of cash offered, the cost of the card and how often you use it. To put this in perspective, 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 a 12-month period.

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.

Keep in mind that this example does not consider the cost of any interest that might be charged if you carried a balance from your purchases. The bottom line? There is no one "best" cashback card for everyone because the value you get from a cash back offer depends on your personal spending habits and card preferences.

Frequently asked questions

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

A cashback credit card is a type of rewards card that lets you earn money back in the form of credits or vouchers for your spending. Standard rewards cards offer points for your eligible spending, which you can redeem for merchandise, vouchers, cashback and more.

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

While the cashback rate varies from card to card, most cashback returns are somewhere between 1-2% of the total value of the transaction. This figure can jump when you look at some bonus cashback rewards schemes or when a fixed rate of cashback is offered (such as $20 or $50 when you first use the card).

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 plan to use cashback to help pay off your balance, just be aware that you usually still need to make a minimum payment on your account by the statement due date.

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 you apply, make sure you meet the eligibility requirements and have the necessary documents needed to complete your application.

What you'll need to provide

  • Proof of identification. A copy of your driver's licence, Medicare card and/or passport for proof of identification.
  • Proof of income. 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. Other information about your finances including debts, liabilities and expenses.

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.

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10 Responses

    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.


    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.

      You may refer to our list of credit card designed for pensioners. Our page 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. When you are ready, you may then click on the “Go to site” button and you will be redirected to the provider’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.

      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 chatbox on the lower right corner of our page.


    Default Gravatar
    ejayApril 27, 2016

    Did i get approved?

      Avatarfinder Customer Care
      SharonApril 27, 2016Staff

      Hi Ejay,

      Thanks for contacting Finder.

      For the status of your application, you may get in touch with the bank directly. You may also check our guide about checking credit card applications.

      I hope this helps.


    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.



    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.

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