Cashback Credit Cards in Australia
- Compare credit cards with up to $600 cashback
- Cashback can be ongoing or a one-off bonus – we help you decide which will be best for you
What type of credit card cashback are you looking for?
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Credit cards with cashback as a sign up bonus
These cards offer cashback as a one-time benefit when you take out a card and spend a minimum amount on the card.
Citi Premier Card (Cashback Offer) | |
|---|---|
| Cashback offer | $600 cashback when you spend $2k on eligible purchases using Apple Pay in the first 90 days. |
| Interest rate on purchases | 21.49% with up to 55 interest free days |
| Annual fee | $300 (reduced to $150/year after the first year if you spend $48k in the previous year). |
| Visit provider | |
BankSA Vertigo (Cashback Offer) | |
| Cashback offer | Up to $400 cashback on supermarket and petrol spending (you get 10% back on spend at selected supermarkets and petrol stations). |
| Interest rate on purchases | 13.99% with up to 55 interest free days |
| Annual fee | $55 |
| Visit provider | |
Bank of Melbourne Vertigo Card (Cashback Offer) | |
| Cashback offer | Up to $400 cashback on supermarket and petrol spending (you get 10% back on spend at selected supermarkets and petrol stations). |
| Interest rate on purchases | 13.99% with up to 55 interest free days |
| Annual fee | $55 |
| Visit provider | |
St.George Vertigo Card (Cashback Offer) | |
| Cashback offer | Up to $400 cashback on supermarket and petrol spending (you get 10% back on spend at **selected supermarkets and petrol stations). |
| Interest rate on purchases | 13.99% with up to 55 interest free days |
| Annual fee | $55 |
| Visit provider | |
Westpac Low Rate Card (Cashback Offer) | |
| Cashback offer | Up to $350 cashback made up of $50 for each month you spend $1k on eligible purchases in the first 7 months. Apply by 30 Apr 2024 |
| Interest rate on purchases | 13.74% with up to 55 interest free days |
| Annual fee | $59 (waived in the first year for existing Westpac customers) |
| Visit provider | |
NAB Low Rate (Cashback Offer) | |
| Cashback offer | Up to $300 cash back made up of $100 cash back per month for the first three months when you spend $500 per month. |
| Interest rate on purchases | 13.49% with up to 55 interest free days |
| Annual fee | $59 |
| Visit provider | |
ANZ Platinum Credit Card | |
| Cashback offer | $300 back when you spend $1.5k on eligible purchases in the first 3 months. |
| Interest rate on purchases | 20.99% with up to 55 interest free days |
| Annual fee | $87 ($0 in the first year and subsequent years when you spend $20k/year on eligible purchases. |
| Visit provider | |
ANZ Low Rate (Credit Back Offer) | |
| Cashback offer | $250 back when you spend $1.5k in the first 3 months. |
| Interest rate on purchases | 13.74% with up to 55 interest free days |
| Annual fee | $58 |
| Visit provider | |
Commbank Low Rate credit card | |
| Cashback offer | Up to $240 cashback (or $400 for Yello tier members) made up of $60 each month ($100 for Yello members) when you spend $500 per month for the first four months. Terms and conditions apply. |
| Interest rate on purchases | 0% p.a. for 3 months then 13.99% p.a. with up to 55 interest free days |
| Annual fee | $6 per month ($72/year) |
| Visit provider | |
ANZ Frequent Flyer Black | |
| Cashback offer | $200 back plus 90,000 bonus Qantas credit card points when you spend $5k on eligible purchases in the first three months. Get an extra 40,000 bonus points when you keep your card for more than 12 months. |
| Interest rate on purchases | 20.99% with up to 55 interest free days |
| Annual fee | $425 |
| Visit provider | |
CommBank Low Fee Credit Card | |
| Cashback offer | Up to $200 cashback (or $240 for Yello tier members) made up of $50 each month ($60 for Yello members) for the first four months when you spend $500/month. Terms and conditions apply. |
| Interest rate on purchases | 20.99% with up to 55 interest free days |
| Annual fee | $3 per month ($36 per year) or $0/month if you spend at least $300 in statement period. |
| Visit provider | |
NAB Low Fee Credit Card | |
| Cashback offer | Up to $200 cash back when you spend $1,500 on purchases within 90 days from account opening. |
| Interest rate on purchases | 19.74% with up to 44 interest free days |
| Annual fee | $30 |
| Visit provider | |
ANZ Rewards Black Credit Card | |
| Cashback offer | $150 back when you spend $3k on eligible purchases in the first three months. |
| Interest rate on purchases | 20.99% with up to 55 interest free days |
| Annual fee | $375 |
| Visit provider | |
ANZ First Credit Card | |
| Cashback offer | $125 back when you spend $750 on eligible purchases in the first 3 months. |
| Interest rate on purchases | 20.99% with up to 55 interest free days |
| Annual fee | $30 ($0 in first year) |
| Visit provider | |
ANZ Frequent Flyer Platinum | |
| Cashback offer | $100 back when you spend $2.5k on eligible purchases in the first 3 months. |
| Interest rate on purchases | 20.99% with up to 55 interest free days |
| Annual fee | $295 |
| Visit provider | |
ANZ Rewards Platinum | |
| Cashback offer | $50 back when you spend $2k on eligible purchases in the first 3 months. |
| Interest rate on purchases | 20.99% with up to 55 interest free days. |
| Annual fee | $149 |
| Visit provider |
| Cashback offer | Interest rate on purchases | Annual fee | Visit provider | |
|---|---|---|---|---|
Citi Premier Card (Cashback Offer) | $600 cashback when you spend $2k on eligible purchases using Apple Pay in the first 90 days. | 21.49% with up to 55 interest free days | $300 (reduced to $150/year after the first year if you spend $48k in the previous year). | |
BankSA Vertigo (Cashback Offer) | Up to $400 cashback on supermarket and petrol spending (you get 10% back on spend at selected supermarkets and petrol stations). | 13.99% with up to 55 interest free days | $55 | |
Bank of Melbourne Vertigo Card (Cashback Offer) | Up to $400 cashback on supermarket and petrol spending (you get 10% back on spend at selected supermarkets and petrol stations). | 13.99% with up to 55 interest free days | $55 | |
St.George Vertigo Card (Cashback Offer) | Up to $400 cashback on supermarket and petrol spending (you get 10% back on spend at **selected supermarkets and petrol stations). | 13.99% with up to 55 interest free days | $55 | |
Westpac Low Rate Card (Cashback Offer) | Up to $350 cashback made up of $50 for each month you spend $1k on eligible purchases in the first 7 months. Apply by 30 Apr 2024 | 13.74% with up to 55 interest free days | $59 (waived in the first year for existing Westpac customers) | |
NAB Low Rate (Cashback Offer) | Up to $300 cash back made up of $100 cash back per month for the first three months when you spend $500 per month. | 13.49% with up to 55 interest free days | $59 | |
ANZ Platinum Credit Card | $300 back when you spend $1.5k on eligible purchases in the first 3 months. | 20.99% with up to 55 interest free days | $87 ($0 in the first year and subsequent years when you spend $20k/year on eligible purchases. | |
ANZ Low Rate (Credit Back Offer) | $250 back when you spend $1.5k in the first 3 months. | 13.74% with up to 55 interest free days | $58 | |
Commbank Low Rate credit card | Up to $240 cashback (or $400 for Yello tier members) made up of $60 each month ($100 for Yello members) when you spend $500 per month for the first four months. Terms and conditions apply. | 0% p.a. for 3 months then 13.99% p.a. with up to 55 interest free days | $6 per month ($72/year) | |
ANZ Frequent Flyer Black | $200 back plus 90,000 bonus Qantas credit card points when you spend $5k on eligible purchases in the first three months. Get an extra 40,000 bonus points when you keep your card for more than 12 months. | 20.99% with up to 55 interest free days | $425 | |
CommBank Low Fee Credit Card | Up to $200 cashback (or $240 for Yello tier members) made up of $50 each month ($60 for Yello members) for the first four months when you spend $500/month. Terms and conditions apply. | 20.99% with up to 55 interest free days | $3 per month ($36 per year) or $0/month if you spend at least $300 in statement period. | |
NAB Low Fee Credit Card | Up to $200 cash back when you spend $1,500 on purchases within 90 days from account opening. | 19.74% with up to 44 interest free days | $30 | |
ANZ Rewards Black Credit Card | $150 back when you spend $3k on eligible purchases in the first three months. | 20.99% with up to 55 interest free days | $375 | |
ANZ First Credit Card | $125 back when you spend $750 on eligible purchases in the first 3 months. | 20.99% with up to 55 interest free days | $30 ($0 in first year) | |
ANZ Frequent Flyer Platinum | $100 back when you spend $2.5k on eligible purchases in the first 3 months. | 20.99% with up to 55 interest free days | $295 | |
ANZ Rewards Platinum | $50 back when you spend $2k on eligible purchases in the first 3 months. | 20.99% with up to 55 interest free days. | $149 |
Credit cards with ongoing cashback
These credit cards offer cashback as an ongoing feature of the card based on how much you spend.
ING Orange One Rewards Platinum | |
|---|---|
| Cashback offer | Up to $360 back per year on an ongoing basis (based on 1% of what you spend). |
| Cashback per $1 spent | $0.01 (capped) |
| Interest rate on purchases | 16.99% with up to 45 interest free days |
| Annual fee | $149 |
| Visit provider | |
BCU Rewards credit card | |
| Cashback offer | Up to $500 cashback each year (based on 0.66% back on eligible purchases). |
| Cashback per $1 spent | $0.0066 (capped) |
| Interest rate on purchases | 13.05% with up to 55 interest free days |
| Annual fee | $89 |
| Visit provider | |
Queensland Country Bank Visa My Rewards | |
| Cashback offer | $1 back per $150 spent on eligible purchases. Capped at $70 per month. |
| Cashback per $1 spent | $0.0066 (capped) |
| Interest rate on purchases | 14.45% with up to 55 interest free days |
| Annual fee | $89 |
| Visit provider | |
Summerland Bank Rewards Credit Card | |
| Cashback offer | $10 back for every 1,000 points you earn. $2 spent = 1 points. Points are automatically converted to cash and credited to your account monthly. |
| Cashback per $1 spent | $0.005 (uncapped) |
| Interest rate on purchases | 18.99% p.a. with up to 56 interest free days |
| Annual fee | $79 ($0 in first year) |
| Visit provider |
| Cashback offer | Cashback per $1 spent | Interest rate on purchases | Annual fee | Visit provider | |
|---|---|---|---|---|---|
ING Orange One Rewards Platinum | Up to $360 back per year on an ongoing basis (based on 1% of what you spend). | $0.01 (capped) | 16.99% with up to 45 interest free days | $149 | |
BCU Rewards credit card | Up to $500 cashback each year (based on 0.66% back on eligible purchases). | $0.0066 (capped) | 13.05% with up to 55 interest free days | $89 | |
Queensland Country Bank Visa My Rewards | $1 back per $150 spent on eligible purchases. Capped at $70 per month. | $0.0066 (capped) | 14.45% with up to 55 interest free days | $89 | |
Summerland Bank Rewards Credit Card | $10 back for every 1,000 points you earn. $2 spent = 1 points. Points are automatically converted to cash and credited to your account monthly. | $0.005 (uncapped) | 18.99% p.a. with up to 56 interest free days | $79 ($0 in first year) |
Should you get a cashback credit card?
Credit cards that offer cashback can be a nice way of getting a more direct benefit from your card. Credit cards more commonly offer indirect benefits like rewards points where it can be difficult to measure the value of what you’re getting.
A card offering cold, hard cashback is in many cases a more straightforward proposition.
That’s the theory anyway. In reality, the cashback almost always comes with strings attached. Cashback also tends to be a one-off offer designed as an incentive to get you to sign up for the card. Once you’ve signed up and got your bonus, the cash only goes in one direction.
For example, only five of the cashback credit cards that Money.com.au analysed (listed above) have the cashback built in as an ongoing feature of the card. All the others (80% of the cards) offer cash back as a one-off incentive.
Deciding if a cashback credit card is worth it for you
A cashback credit card might suit if:
- You prefer the simplicity of getting cash into your account instead of rewards points.
- You’ve worked out that cashback is going to be worth more to you than points.
- You’re aware that the cashback offer may be a one-time sign up bonus.
- You’ve checked the other T&Cs and the eligibility criteria (e.g. minimum spend) and are confident you’ll easily qualify for the cashback.
- You pay off your credit card in full every month (otherwise you may want to consider a low rate card).
- You have compared cards and found a cashback credit card that is overall good value and suits your needs.
A cashback credit card may not suit if:
- You’ll need to spend more than you otherwise would to qualify for the cashback.
- You will have a revolving balance on the card. Interest could easily cancel out any cashback you earn.
- You want a card with ongoing rewards (most cashback cards offer cash as a one-off bonus).
- You could get better value from a rewards credit card offering points.
- The card has a high annual fee. The cashback could well be a one off, but the fee won't be.
- Other aspects of the card mean it’s not great value overall (e.g international credit card fees if you spend overseas regularly).
Expert tip: Rewards credit cards are essentially the same as cashback cards
If you’re earning credit card points, you essentially have a cashback card. That's because rewards points are redeemable for gift cards, which is as good as cash. Some rewards cards will give you sign up points you can redeem for a few hundred dollars worth of gift cards, and then an ongoing points per dollar which you can cash in when you have enough built up.
Brad Kelly, Money.com.au's credit card expert
What kind of cashback credit card is best?
Because of the different ways credit card companies structure their offers, some credit cards advertised as a ‘cashback credit card’ have very little in common with each other.
There are also cards that are not advertised as offering cashback cards, that essentially do offer cashback.
Confused? You needn’t be. To help you decide which cashback credit card (if any) may be best for you, below we explain the different types of cashback credit cards and what they offer.
Types of credit card cashback explained
Credit cards with ongoing cashback
You get a percentage of your spending returned to your card as cashback. The cashback is an ongoing feature of the card so you continue to get money back while you have the card. The cashback you get may be capped at a certain $ amount per year.
Credit cards with cashback as a sign up offer
The cashback is a one-off bonus and there is usually a minimum spend requirement in order to be eligible. You'll either get all the cash back in one go or it may be paid out in instalments per month if you meet the spend requirement that month.
Credit cards offering credits (gift vouchers)
Some cards offer rewards that are similar to cash. For example, it might be a card offering a credit or voucher to use at a particular chain or retailers, restaurants or travel provider. This is common on higher end credit cards (e.g. American Express cards).
Credit cards allowing you to convert points for cash
These cards also don’t offer cashback directly. But if you earn rewards points, chances are you’ll be able to convert those points to gift cards or cash credited to your credit card account (e.g. to help pay off your balance or cover the card's annual fee).
How will the cashback actually work on my credit card?
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Pick a cashback type that suits
Depending on the card, you’ll earn cash either as a sign up bonus, or on an ongoing basis based on how much you spend.
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Meet the spend requirement
There are usually minimum spend requirements and/or caps on how much you can earn per year in cashback.
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Watch out for excluded spending
Not all spending on your credit card will count towards earning cashback. The likes of cash withdrawals and paying for credit card interest and fees may be excluded.
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Cashback is credited to your card
If you meet the spend criteria, the cashback will be credited to your credit card account, either in one amount or monthly as you earn it.
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You still need to make the minimum repayment
Even if your credit card account is credited with cashback, this usually doesn't count towards the minimum repayment on your account. You will need to pay that yourself separately.
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Be sure to keep up with your repayments
You may not get any cashback if you are behind on your credit card payments.
Are cashback credit cards more expensive?
Cashback credit cards aren’t necessarily more expensive than other types of cards. In fact, a lot of cashback credit cards are relatively simple products. With credit cards, simple often means cheaper.
Money.com.au’s analysis showed cashback credit cards on average have an annual fee of $109, compared to around $135 on average for all credit cards.
Just remember, if the cashback is a one-off bonus for signing up for the card, this may not ultimately be as valuable as a card offering ongoing rewards. Even if that card has a higher fee.
If you're not a big spender, pay off your balance in full every month and want to minimse fees, a credit card with no annual fee is another option to consider.
Written by
Editor
Sean Callery
Reviewed by
Credit Cards Expert
Brad Kelly
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