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Cash Back Credit Cards

Cash back rewards are the purest form of rewarding customer loyalty. Apply for your cash back card below.

$100 off one Coles Supermarket shop if you apply and are approved by 28th Feb 2017.
No annual fee to pay, ever.
Earn 1 flybuys point for every $2 spent.
Up to 62 days on purchases
New customers only.
Promotion

Cash back cards, as the name implies, offer one perk no other cards do: money in your pocket.

Typically, this rebate is around 1%, but it can go as high as 10% during promotional periods at partner retailers. Or a cash back card can give the new cardholder a lump sum credit / cashback into your account when you get approved for the card or start using the card in a store.

If your spending is low, the cash back may not be enough to offset the higher annual fees associated with these cards. If you anticipate carrying a balance, they may also not be the right choice for you as they do come with higher interest rates. But with careful consideration and monitoring, these cards could be the most seamless way to get something back from using a credit card. In addition, some of these cards also come with sign-up perks like bonus points.

The actual cash back rewards vary from card to card: some offer a set percentage on all spending; others have preferred merchants that yield a higher rate than other purchases, and if you shop with a particular store this could be the best option for you even if you don’t get anything back elsewhere. There are also tiered programs, in which the size of the purchase determines the rate of the cash back. Note that many cards do have a cap on how much you can receive each year.

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balance transfer
purchase rate
annual fee
apply
$250 Back to your new ANZ Low Rate Platinum Credit Card.
0% p.a. for the first 6 months on purchases from approval.
Up to 55 days on purchases.
More info
Add to comparison
-
6 months
0% p.a.
then 13.49%
$99
ongoing
Coles No Annual Fee MasterCard
APPLY BY 28 feb 17
74 reviews
$100 off one Coles Supermarket shop if you apply and are approved by 28th Feb 2017.
Earn 1 flybuys point for every $2 spent.
No annual fee to pay, ever.
More info
Add to comparison
6 months
0% p.a.
then 19.99%
19.99% p.a.
ongoing
$0
ongoing
Citi Simplicity Card
APPLY BY 30 jun 17
No annual fee.
Enjoy up to $50 cash back, 5% cash back on all retail purchases in the first 90 days from account approval.
0% p.a. for 15 months on balance transfers (1.5% BT fee applies).
More info
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15 months
0% p.a.
then 19.99%
with a 1.5% fee
19.99% p.a.
ongoing
$0
ongoing
Suncorp Platinum Credit Card
APPLY BY 31 jul 17
4 reviews
5% cashback on all retail purchases for the first 3 months (up to $250 cashback).
0% p.a. on balance transfers for 18 months.
Earn rewards points at 1.25 pt per $1 spent.
More info
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18 months
0% p.a.
then 21.99%
20.74% p.a.
ongoing
$169
ongoing
The American Express Essential® Credit Card
4 reviews
Receive a $50 credit when you apply online, are approved and spend $750 on your new Card within the first 3 months of Card Membership.
Smartphone Screen Insurance for up to $500 for screen repairs to your Smartphone when you pay for your phone or contract with your Essential Credit Card.
More info
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12 months
0% p.a.
then 14.99%
with a 1% fee
14.99% p.a.
ongoing
$0
ongoing
$100 Back to your new ANZ Low Rate Credit Card.
0% p.a. for the first 6 months on purchases from approval.
Low annual fee of $58 p.a.
More info
Add to comparison
-
6 months
0% p.a.
then 13.49%
$58
ongoing
Virgin Money No Annual Fee Credit Card
APPLY BY 28 feb 17
12 reviews
$0 annual fee for the life of the card.
0% p.a. for 18 months on balance transfers. 2% balance transfer fee applies.
$100 cashback on your card when you spend $2,000 or more in the first 3 months.
More info
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18 months
0% p.a.
then 20.99%
with a 2% fee
18.99% p.a.
ongoing
$0
ongoing
Coles Rewards MasterCard
APPLY BY 28 feb 17
74 reviews
$100 off one Coles Supermarket shop if you apply and are approved by 28th Feb 2017.
Earn 2 points per $1 you spend everywhere – that’s on top of the usual flybuys points from other partners.
Save $10 instantly at the checkout when you redeem 2,000 flybuys points.
More info
Add to comparison
6 months
0% p.a.
then 19.99%
19.99% p.a.
ongoing
$89
ongoing
Coles Low Rate MasterCard
APPLY BY 28 feb 17
22 reviews
$100 off one Coles Supermarket shop if you apply and are approved by 28th Feb 2017.
Low ongoing purchase rate of 12.99% p.a.
Low annual fee of $49 p.a.
More info
Add to comparison
6 months
0% p.a.
then 12.99%
12.99% p.a.
ongoing
$49
ongoing
75,000 points after a first eligible purchase in the first 3 months.
Unlimited access to participating airport lounges outside Australia, through veloce.
Earn up to 3 pts per $1 spent on the American Express card.
More info
Add to comparison
-
18.79% p.a.
ongoing
$375
ongoing
50,000 points after a first eligible purchase in the first 3 months.
Comprehensive rewards program with high earn rate and no points capping.
Free international travel and medical insurance.
More info
Add to comparison
-
18.79% p.a.
ongoing
$95
ongoing
Show more cards
$250 Back to your new ANZ Low Rate Platinum Credit Card
Plus the card 0% p.a. on purchases for the first 6 months from approval
$250 Back to your new ANZ Low Rate Platinum Credit Card. This will be credited within 2 months of account activation.
0% p.a on purchases for the first 6 months from approval. Reverts to the standard purchase rate, currently 13.49% p.a.
Up to 55 days interest-free on purchases.
$99 annual account fee.
Complimentary insurances for your shopping including extended warranty insurance, best price guarantee scheme, and 90-day purchase security insurance.
Complimentary insurance when you travel including overseas travel and medical insurance, interstate flight inconvenience insurance, and rental excess cover.
ANZ Falcon for around-the-clock monitoring for suspicious transactions.
ANZ Fraud Money Back Guarantee means you won’t be liable for fraudulent transactions.

Disclaimer: $250 will be credited within 2 months of account activation and doesn’t meet minimum monthly payment requirements. All applications for credit are subject to ANZ’s credit approval criteria. Terms and Conditions apply and are available on application. Fees, charges, and eligibility criteria apply. Not available with other offers, packages or when transferring between cards.

Q&As about Cash Back Credit Cards from Customers

Q: What’s the difference between a cash back and a rewards credit card?

Cash back cards, instead of earning points for rewards, pay money back into your account. Put simply, this means you save money on your monthly expenses, but individual cards pay cash back for different types of purchases.

Q: Do they all work the same way?

No.

The most straightforward cash back credit cards pay back a fixed rate percentage on all purchases made. This can provide an easy form of reward, without the need to focus on spending at specific stores or working out how best to increase the rate of cash back. Selected retailer cash back cards provide a bonus rate for shopping at participating outlets. Some credit cards also feature a tiered program, in which different size purchases receive a higher or lower percentage cash back rate depending on the particular deal.

Or another way that cash back cards work is to give new cardholders a lump sum credited to your account when you get approved for the card or when you start to use the card in a store.

Q: How much cash back can I expect to earn?

While the rates vary greatly between different offers, you can typically expect to receive 0.5% or 1% cash back on a flat-rate deal, rising to 5% or even 10% with participating retailer programs or during bonus periods.

Q: Is there a cap on how much is paid back?

Capping is quite common in some shape or form. Before you apply, check to see if cash back is eligible for all purchase, or just all purchases up to a preset value.

Q: Can I earn cash back on balance transfers, cash advances and travellers’ cheques?

Cash back is only applicable to purchases. Cash advances, buying foreign currency and travellers’ cheques, balance transfers or gambling payments do not earn any cash back.

Q: Can the money be used to reduce an outstanding balance or pay for the annual fee?

Yes, quite often you can use it to pay off the outstanding balance or the card’s annual fee, but not all cards allow it.

Q: What’s the best way to use a cash back card?

Like with any other credit card: Pay off your card in full and on time every month, otherwise the interest and late fees you pay on the outstanding balance will reduce the true value of the rewards.

Q: How can I maximise the rewards?

One of the easiest ways to maximise what you get back is to move regular bill payments over to the card, e.g. telephone bills and utility bills. Estimate carefully whether your credit limit is high enough to facilitate the additional spending.

Q: What other factors should I consider while selecting a cash back card?

It is very important to look at all the features of cash back credit cards before applying to make sure the deal will be genuinely beneficial:

Annual fee: Calculate your estimated annual spend and how much cash back this earns, and compare this figure with the annual fee. If the annual fee is greater, then you are not going to get any benefit from the card.

Interest rate: Cash back credit cards often feature a relatively high interest rate, which is applied to any outstanding balance on your account. If for any reason you are unable to pay your monthly bill in full, a high rate could quickly negate the savings you make on the cash back.

Introductory offers: Many cash back cards offer an introductory promotion of a bonus cash back rate for an initial period, typically a few months. Check to see how the rate changes at the end of the promotion.

Balance transfers: These cards also often feature the option to transfer a balance so you can repay your existing credit card debt at a lower rate. You should be aware that balances transferred do not earn any cash back, and if your priority is repaying your debt, you are probably better off choosing a different type of card with a better balance transfer deal.

Restrictions and penalties: Banks often impose restrictions on how much can be earned per month, the types of purchases that are applicable and penalties for missing payments or misusing your account. Study all the terms and conditions to ensure you can get the best return.

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We welcome your questions but we cannot help if you need personal financial advice or if have lost your card or need to resolve a dispute with your bank.
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