Money Hack: How to get fee-free cash from your credit card

Posted: 27 September 2017 10:00 am
News

credit card cashback

Points aren't the only way your credit card can reward you.

Now don't get me wrong, I love rewards points. They can save you money on flights, get you cabin upgrades or help you book accommodation. But hey, money isn't bad either.

The hack

If you prefer money to rewards points, sign up to a cashback credit card. These cards give you money in a few different ways, including a one-off cashback payment for signing up to the card and meeting spend requirements as well as earning a percentage back on certain purchases.

Most cashback offers come with certain conditions you need to meet, such as the percentage you receive back only being on particular purchases. For signup cashback promotions, you will usually need to meet a minimum spend requirement within the first few months of opening the card account.

Remember to check the terms and conditions of the cashback offer before you apply.

You also need to take into account the annual fee, interest rate and other associated card costs before you sign up otherwise you could end up spending more than you're getting back.

Here are some of the current cashback offers that are available:

Name Product Cashback Rewards program Purchase rate Annual fee
St.George Vertigo Card - Cashback Offer
$300
N/A
13.99% p.a.
$0 annual fee for the first year ($55 p.a. thereafter)
Get $300 cashback when you spend at least $4,000 in the first 120 days. Plus, a $0 annual fee for the first year.
Citi Clear Card
$250
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.
Kogan Money Black Card - Exclusive Offer
$50
Kogan Rewards Program
20.99% p.a.
$0
Save with a $0 annual fee and a 0% introductory rate on balance transfers. Plus, earn $50 Kogan.com Credit and uncapped rewards points.
Citi Rewards Card - Points & Gift Card Offer
$100
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.
Coles No Annual Fee Mastercard
$100
Flybuys
19.99% p.a.
$0
Get $100 off a Coles Supermarket shop when you spend at least $1,500 in the first 60 days. Plus, a 0% balance transfer offer.
American Express Cashback Credit Card
1%
20.74% p.a.
$120
Earn 1% cashback per $1 dollar spent on your everyday purchases. Plus, an additional 5% for the first 3 months (up to $200).
Bank of Melbourne Vertigo Card - Cashback Offer
$300
N/A
13.99% p.a.
$0 annual fee for the first year ($55 p.a. thereafter)
Offers a $300 cashback when you spend $4,000 on eligible purchases within the first 120 days. Plus, a $0 first-year annual fee.
BankSA Vertigo - Cashback Offer
$300
N/A
13.99% p.a.
$0 annual fee for the first year ($55 p.a. thereafter)
Earn $300 cashback when you spend at least $4,000 in the first 120 days. Plus, a $0 first-year annual fee.
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finder money hacks is a bi-weekly roundup of the latest tips and tricks to improve your finances. Check back every Wednesday and Saturday for new hacks.

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