Best Cashback Credit Cards in Australia

  • Compare credit cards offering up to $600 cashback
  • Cashback can be ongoing or a one-off bonus – we show your options for each
Cashback credit cards
Cashback credit cards

What type of credit card cashback are you looking for?

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Credit cards with ongoing cashback

These credit cards offer cashback as an ongoing feature of the card based on how much you spend.

Summerland Credit Union 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)

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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

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Queensland Country Bank Visa My Rewards

Cashback offer

$1 back per $150 spent on eligible purchases.

Cashback per $1 spent

$0.0066 (uncapped)

Interest rate on purchases

14.45% with up to 55 interest free days

Annual fee

$89

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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

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Cashback offerCashback per $1 spentInterest rate on purchasesAnnual feeVisit provider

Summerland Credit Union 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)

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.

$0.0066 (uncapped)

14.45% with up to 55 interest free days

$89

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

Info correct as at 6 November 2023. Table is ordered by lowest annual card fee. Check with the provider for full card details, including fees, limits, terms and conditions to make sure the card is right for you. While this is an extensive list of the top ongoing cashback credit cards available, we can't guarantee that all cards available in the market are shown.

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.

ANZ First Credit Card

Cashback offer

$100 back when you spend $750 on eligible purchases in the first 3 months.

Interest rate on purchases

20.49% with up to 55 interest free days

Annual fee

$30 ($0 in first year)

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NAB Low Fee Credit Card

Cashback offer

Up to $240 cash back made up of $80 each month for the first three months when you spend $500 per month on purchases.

Interest rate on purchases

19.74% with up to 44 interest free days

Annual fee

$30

Visit provider

CommBank Low Fee Credit Card

Cashback offer

Up to $200 cashback made up of $50 each month for the first four month when you spend $500/month. Apply by 29 Feb 2024.

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.

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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

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

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

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

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Westpac Low Rate Card (Cashback Offer)

Cashback offer

Up to $250 cashback made up of $50 for each month you spend $1k on eligible purchases in the first 5 months. Apply by 1 Nov 2023

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)

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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

12.49% with up to 55 interest free days

Annual fee

$59

Visit provider

Commbank Low Rate credit card

Cashback offer

Up to $300 cashback made up of $100 each month when you spend $500 per month for the first three months. Apply by 29 February 2024. Terms and conditions apply.

Interest rate on purchases

0% p.a. for 6 months then 13.99% p.a. with up to 55 interest free days

Annual fee

$6 per month ($72/year)

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ANZ Platinum Credit Card

Cashback offer

$250 back when you spend $1.5k on eligible purchases in the first 3 months.

Interest rate on purchases

20.49% 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.

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ANZ Rewards Platinum

Cashback offer

$50 back when you spend $2k on eligible purchases in the first 3 months.

Interest rate on purchases

20.49% with up to 55 interest free days.

Annual fee

$95 (increasing to $149 from 8 November 2023)

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

20.49% with up to 55 interest free days

Annual fee

$295

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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

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

20.49% with up to 55 interest free days

Annual fee

$375

Visit provider

ANZ Frequent Flyer Black

Cashback offer

$100 back when you spend $5k on eligible purchases in the first three months.

Interest rate on purchases

20.49% with up to 55 interest free days

Annual fee

$425

Visit provider
Cashback offerInterest rate on purchasesAnnual feeVisit provider

ANZ First Credit Card

$100 back when you spend $750 on eligible purchases in the first 3 months.

20.49% with up to 55 interest free days

$30 ($0 in first year)

NAB Low Fee Credit Card

Up to $240 cash back made up of $80 each month for the first three months when you spend $500 per month on purchases.

19.74% with up to 44 interest free days

$30

CommBank Low Fee Credit Card

Up to $200 cashback made up of $50 each month for the first four month when you spend $500/month. Apply by 29 Feb 2024.

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.

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

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

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

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

Westpac Low Rate Card (Cashback Offer)

Up to $250 cashback made up of $50 for each month you spend $1k on eligible purchases in the first 5 months. Apply by 1 Nov 2023

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.

12.49% with up to 55 interest free days

$59

Commbank Low Rate credit card

Up to $300 cashback made up of $100 each month when you spend $500 per month for the first three months. Apply by 29 February 2024. Terms and conditions apply.

0% p.a. for 6 months then 13.99% p.a. with up to 55 interest free days

$6 per month ($72/year)

ANZ Platinum Credit Card

$250 back when you spend $1.5k on eligible purchases in the first 3 months.

20.49% 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 Rewards Platinum

$50 back when you spend $2k on eligible purchases in the first 3 months.

20.49% with up to 55 interest free days.

$95 (increasing to $149 from 8 November 2023)

ANZ Frequent Flyer Platinum

$100 back when you spend $2.5k on eligible purchases in the first 3 months.

20.49% with up to 55 interest free days

$295

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).

ANZ Rewards Black Credit Card

$150 back when you spend $3k on eligible purchases in the first three months.

20.49% with up to 55 interest free days

$375

ANZ Frequent Flyer Black

$100 back when you spend $5k on eligible purchases in the first three months.

20.49% with up to 55 interest free days

$425

Info correct as at 6 November 2023. Table is ordered by lowest annual card fee. Check with the provider for full card details, including fees, limits, terms and conditions to make sure the card is right for you. While this is an extensive list of the top cashback credit cards available, we can't guarantee that all cards available in the market are shown.

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.

Expert tip: Rewards credit cards are essentially the same as cashback cards

Brad Kelly

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

Consolidating debt

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.

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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 card

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).

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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

Sean Callery Editor Money.com.au

Editor

Sean Callery

Reviewed by

Brad Kelly, Payment Services

Credit Cards Expert

Brad Kelly

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Money Pty Ltd (trading as Money) Australian Credit Licence 528698 provides information about credit products and is authorised to do so as the holder of Australian Credit Licence 528698. Money does not compare every Lender all products or issuers available in Australia. We are not a broker or credit provider and when we provide information via this website, we are not providing you with a recommendation or suggestion about a particular credit product.