Finder makes money from featured partners, but editorial opinions are our own.

Cashback credit cards

Get money for spending money? It’s not too good to be true with a credit card that offers cash back – here's what you need to know.

1 - 8 of 20
Name Product Cashback Rewards program Purchase rate p.a. Annual fee
ANZ Platinum Credit Card
$300
N/A
20.99%
$0 first year ($87 after)
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.
Westpac Low Rate Card - Cashback Offer
$350
N/A
13.74%
$59
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 Rewards Black Credit Card
$150
ANZ Rewards Program
20.99%
$375
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.
ANZ Low Rate - Credit Back Offer
$250
N/A
13.74%
$58
Get $250 back on your card when you spend $1,500 on eligible purchases in the first 3 months.
American Express Platinum Business Card
N/A
Membership Rewards Ascent Premium
0%
$1,750
ABN holders w/ $75,000 revenue. Get 350,000 bonus Membership Rewards Points when you spend $12,000 on eligible purchases in the first 3 months.
St.George Vertigo Card - Cashback Offer
$400
N/A
13.99%
$55
Get up to $400 cashback at eligible supermarkets and petrol stations in the first 180 days. Plus, a low interest rate for purchases.
ANZ Rewards Platinum
$50
ANZ Rewards Program
20.99%
$149
Get 100,000 bonus ANZ Reward Points (worth $450 in eGift cards) and $50 back when you spend $2,000 on eligible purchases in the first 3 months.
Citi Premier Card - Cashback Offer
$600
Citi Rewards Program
21.49%
$300
Receive $600 cashback when you spend $2,000 through Apple Pay, Google Pay or Samsung Pay in the first 3 months.
loading

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.

Finder's best cashback credit card offers

EXPERTREVIEW

Updated 5 January 2024 by Finder's senior credit card writer, Amy Bradney-George.

If you're looking for a new credit card for purchases, there is a mix of rewards, premium and low-cost credit cards that offer introductory cashback when you meet a spend requirement. Right now, you could get $50 to $600 back on a new card. And some even offer introductory bonus points.

Here's our pick of cashback offers in the Finder database:

  • Big cashback offer:
    The St.George Vertigo Card offers up to $400 cashback on supermarket and petrol spending in the first 6 months, giving you 10% back as a statement credit for spending at eligible petrol stations and supermarkets – including Coles, Woolworths and Aldi.
  • Cashback and low rate:
    The Westpac Low Rate Credit Card has a 13.74% p.a. variable interest rate for purchases and offers up to $350 cashback. When you apply as a new cardholder by 31 July 2024, you'll get $50 back each month when you spend $1,000 or more on eligible purchases in the first 7 statement periods from card approval.
  • Cashback and frequent flyer rewards:
    The ANZ Frequent Flyer Black Credit Card offers $200 back and up to 130,000 bonus Qantas Points when you meet the spend requirement. As an example of Qantas Points value, you could redeem the bonus points for a return business class flight from Melbourne to Fiji (114,000 points) or $625 in David Jones digital gift cards (125,150 points). You'll also receive 2 lounge invitations each year and complimentary travel insurance.

Keep in mind: There's no one best credit card for everyone, so check details that matter to you.

What's the biggest credit card cashback offer on the market?

The Citi Premier Card offers $600 cashback when you spend $2,000 on eligible purchases through Apple Pay in the first 3 months from approval. The cards also comes with a $300 annual fee in the first year that you should factor in when comparing it to other credit cards that offer cashback.

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 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

Why you can trust Finder's credit card experts

free

We're free

Our comparison tables are completely free to use. We link you directly to the lender's secure application page. Better still, we regularly have exclusive offers that you won't find on any other site.
expert advice

We're experts

We've researched and rated hundreds of cards as part of our Finder Awards. We've published 200+ guides and our in-house experts regularly appear on Sunrise, 7News and SBS News.
independent

We're independent

Unlike other comparison sites, we're not owned by a bank or lender. That means our opinions are our own and you can compare nearly every credit card in Australia on Finder.
help

We're here to help

Since 2012, we've helped almost 6 million people find a credit card by comprehensively comparing offers. We'll never ask for your personal information. We're here to help you make a decision.
Back to top

More guides on Finder

Go to site