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

Elizabeth Barry 27 September 2017 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:

Rates last updated August 15th, 2018
Name Product Bonus Points Rewards Program Rewards Points per $ spent Purchase rate (p.a.) Annual fee Product Description
NAB Low Fee Platinum Card - Amazon Offer
19.74% p.a.
$90 p.a.
Receive 10% cashback with amazon.com.au for 12 months (capped at $25 per month). Plus, 0% p.a. on balance transfers for 24 months.
Citi Simplicity Card
19.99% p.a.
$0 p.a.
Save with 5% cashback on eligible purchases (capped at $50 per month) for the first 90 days from approval. Plus, a 15 month balance transfer offer.
Virgin Money Low Rate Credit Card
11.99% p.a.
$49 p.a.
Offers a $49 annual fee, 10% cashback on purchases made in the first 3 months (capped at $100) and 0% p.a. for 14 months on balance transfers.
Citi Rewards Classic Credit Card
Citi Rewards Program


1
20.99% p.a.
$49 p.a. annual fee for the first year ($99 p.a. thereafter)
Receive 1 point per $1 spent on eligible purchases, up to $50 cashback when you meet the minimum spend and a 15 month balance transfer offer.
ANZ Frequent Flyer Black
75,000 bonus points
Qantas Frequent Flyer


1
19.99% p.a.
$425 p.a.
Receive 75,000 bonus Qantas Points and $200 back after your first eligible purchase in the first 3 months. Plus, complimentary Qantas lounge passes.
ANZ Frequent Flyer Platinum
65,000 bonus points
Qantas Frequent Flyer


0.75
19.99% p.a.
$295 p.a.
Receive 65,000 bonus Qantas Points and $150 back on your card after your first eligible purchase within 3 months. Plus, a personal concierge.
ANZ Rewards Black Credit Card
75,000 bonus points
ANZ Rewards Program


2
18.79% p.a.
$375 p.a.
Receive 75,000 bonus Reward Points and $100 back onto your card after your first eligible purchase within 3 months, plus, lounge passes.
ANZ Rewards Platinum
65,000 bonus points
ANZ Rewards Program


1.5
18.79% p.a.
$95 p.a.
Receive 65,000 bonus Reward Points and $50 back onto your card after your first eligible purchase in 3 months, plus up to 1.5 points per $1 spent.

Compare up to 4 providers


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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