Cashback Credit Cards

Compare the best cashback credit cards in Australia that offer cash, credit, or vouchers in exchange for regular spending.

Bill Ryan Natividad avatar
Written by   |  
Nilooka Dissanayake avatar
Edited by   |  
David Boyd avatar
Verified by
Updated 11 Dec 2024   |   Rates updated regularly

Comparing of 20 cashback credit cards

ANZ Rewards Black Credit Card

On ANZ's website

Sign up bonus cashback

$150.00

Cashback earned

N/A

Sign up bonus points

180,000 points and more

Annual fee

$375.00 p.a. ongoing

Details

  • Get 180,000 bonus Reward Points and $150 cash back upon spending $3,000 on qualifying purchases within the initial 3 months of approval.
  • Accrue 2 Reward Points for every $1 spent on qualifying purchases, up to $5,000 per statement period.
  • Enjoy complimentary international travel insurance.

Pros & cons

Pros
  • Receive 180,000 bonus ANZ Rewards points and earn a $150 cash back when you meet the criteria.
  • Earn 2 points per $1 spent on eligible purchases up to $5,000 per statement period.
  • There is no cap on the number of points you can earn.
  • Free international travel insurance and purchase protection insurance.
Cons
  • The $375 p.a. annual fee.
  • Doesn't come with lounge access.
  • No balance transfer offer.
Apply by 30 April 2025
Westpac Low Rate Credit Card (Cashback offer)

On Westpac's website

Sign up bonus cashback

$350.00

Cashback earned

N/A

Sign up bonus points

N/A

Annual fee

$59.00 p.a. ongoing

Details

  • Get up to $350 cashback when you apply online by 30 April 2025. Receive a $50 cashback monthly for spending over $1,000 in the first 7 statement periods.
  • A low 13.74% p.a. interest rate on purchases helps keep costs manageable.
  • Split purchases over $100 into 4 payments over 6 weeks with PartPay, making it easier to manage larger expenses.

Pros & cons

Pros
  • Get up to $350 cashback when you meet the criteria.
  • The $59 p.a. annual fee keeps costs low, with no fee in the first year if you're already with Westpac.
  • Start with a credit limit as low as $500, helping you manage your spending.
  • Supports Apple Pay, Google Pay, and Samsung Pay.
Cons
  • No rewards program although there is a cashback offer.
  • No complimentary travel insurance, which is typical for a low-rate card.
Apply by 30 April 2025
St.George Vertigo Visa Credit Card  (up to $500 total cashback)

On St.George's website

Sign up bonus cashback

N/A

Cashback earned

Up to 10.00% on grocery spend

Sign up bonus points

N/A

Annual fee

$55.00 p.a. ongoing

Details

  • Earn 10% cashback on purchases at participating supermarkets and petrol stations (with a maximum of $500 cashback). Terms and Conditions apply.
  • Get a 6.99% interest rate on balance transfers for 12 months with a 1% transfer fee. After that, the rate changes to 21.99% p.a. for cash advances.
  • Start with a credit limit as low as $500, helping you keep your spending in check.

Pros & cons

Pros
  • Get a limited edition exclusive rainbow design card.
  • This card’s cashback offer makes it a great choice for supermarket and petrol spending.
  • No BT fee.
  • Add 1 additional cardholder at no extra cost.
  • A 13.99% p.a. variable rate keeps interest costs lower on purchases.
  • Low annual fee of $55 p.a.
  • Offers fraud monitoring, secure online shopping, and a Fraud Money Back Guarantee.
  • Works with Apple Pay, Google Pay, and Samsung Pay.
Cons
  • Cashback earnings are capped at $500, so planning your spending is important.
  • Other cards offer 0% on balance transfers with longer transfer periods.
  • A 3% overseas transaction fee applies, so it’s worth considering for frequent travelers.
Apply by 30 April 2025

Sign up bonus cashback

N/A

Cashback earned

Up to 10.00% on grocery spend

Sign up bonus points

N/A

Annual fee

$55.00 p.a. ongoing

Details

  • Earn 10% cashback on purchases at participating supermarkets and petrol stations (with a maximum of $500 cashback). Terms and Conditions apply.
  • Get a 6.99% interest rate on balance transfers for 12 months with a 1% transfer fee. After that, the rate changes to 21.99% p.a. for cash advances.
  • Start with a credit limit as low as $500, helping you keep your spending in check.

Pros & cons

Pros
  • This card’s cashback offer makes it a great choice for supermarket and petrol spending.
  • No BT fee.
  • Add 1 additional cardholder at no extra cost.
  • A 13.99% p.a. variable rate keeps interest costs lower on purchases.
  • Low annual fee of $55 p.a.
  • Offers fraud monitoring, secure online shopping, and a Fraud Money Back Guarantee.
  • Works with Apple Pay, Google Pay, and Samsung Pay.
Cons
  • Cashback earnings are capped at $500, so planning your spending is important.
  • Other cards offer 0% on balance transfers with longer transfer periods.
  • A 3% overseas transaction fee applies, so it’s worth considering for frequent travelers.
Apply by 30 April 2025

Sign up bonus cashback

N/A

Cashback earned

Up to 10.00% on grocery spend

Sign up bonus points

N/A

Annual fee

$55.00 p.a. ongoing

Details

  • Earn 10% cashback on purchases at participating supermarkets and petrol stations (with a maximum of $500 cashback). Terms and Conditions apply.
  • Get a 6.99% interest rate on balance transfers for 12 months with a 1% transfer fee. After that, the rate changes to 21.99% p.a. for cash advances.
  • Start with a credit limit as low as $500, helping you keep your spending in check.

Pros & cons

Pros
  • This card’s cashback offer makes it a great choice for supermarket and petrol spending.
  • No BT fee.
  • Add 1 additional cardholder at no extra cost.
  • A 13.99% p.a. variable rate keeps interest costs lower on purchases.
  • Low annual fee of $55 p.a.
  • Offers fraud monitoring, secure online shopping, and a Fraud Money Back Guarantee.
  • Works with Apple Pay, Google Pay, and Samsung Pay.
Cons
  • Cashback earnings are capped at $500, so planning your spending is important.
  • Other cards offer 0% on balance transfers with longer transfer periods.
  • A 3% overseas transaction fee applies, so it’s worth considering for frequent travelers.

Sign up bonus cashback

N/A

Cashback earned

0.66% on any domestic spend

Sign up bonus points

N/A

Annual fee

$89.00 p.a. ongoing

Details

  • Acquire a low variable interest rate of 13.05% p.a. for purchases.
  • Receive 0.66% cash back on every $1 spent on eligible transactions.
  • Take advantage of up to 52 interest-free days.

Pros & cons

Pros
  • Competitive interest rate on purchases.
  • Earn cash back on eligible transactions.
  • Has 24-hour fraud monitoring and supports Visa payWave.
Cons
  • There is no sign-up bonus offer for this card right now.
NAB Low Fee Credit Card

On NAB's website

Sign up bonus cashback

$200.00

Cashback earned

N/A

Sign up bonus points

N/A

Annual fee

$30.00 p.a. ongoing

Details

  • Receive $200 cashback when you spend $1,500 on purchases within 90 days from account opening.
  • Low $30 p.a. ongoing annual fee.
  • 12 months at 0% p.a. on balance transfers (3% balance transfer fee applies). Reverting to the variable cash advance rate of 21.74% p.a.

Pros & cons

Pros
  • The opportunity to get a cashback $200.
  • 0% p.a. on balance transfers for 12 months.
  • Apply for an additional cardholder at no extra cost.
Cons
  • There is a 3% balance transfer fee.
  • Ongoing interest on purchases and cash advances is not low.
  • Doesn't earn rewards.
MONEYME Freestyle Virtual Card

Sign up bonus cashback

N/A

Cashback earned

N/A

Sign up bonus points

N/A

Annual fee

From $0.00 p.a. ongoing

Details

  • Use virtual card instantly once approved (typically within 60 mins).
  • Tap n Pay with up to 55 days interest-free.
  • Use credit to transfer money to anyone.
  • Exclusive features.
  • Thousands of 5-star customer reviews.

Bank promo

  • Get MONEYME's lowest advertised rate EVER of 18.24% p.a.
  • Annual fee of $0 to $149 p.a. based on credit limit plus a monthly fee of $5 for balances over $20.

Pros & cons

Pros
  • Available to use immediately after approval.
  • Money can be transferred to your bank account.
  • Get cashback at participating stores with Cashrewards.
Cons
  • The maximum credit limit is comparatively low.
  • Combination of annual and monthly fees can be quite expensive for the highest credit limit.
  • There is a 1.5% withdrawal fee.
ANZ Platinum Credit Card

On ANZ's website

Sign up bonus cashback

$300.00

Cashback earned

N/A

Sign up bonus points

N/A

Annual fee

$0.00 for 1st year

Details

  • Receive $300 cashback upon spending $1,500 on eligible purchases within the initial 3 months after approval. Terms and Conditions apply.
  • Enjoy up to 55 days interest-free on purchases by paying your account in full each month.
  • No annual fee for the first year. Subsequently, a standard annual fee of $87 p.a. applies.

Pros & cons

Pros
  • Earn a $300 cashback when you meet the spend criteria.
  • $0 annual fee in the first year, $87 p.a. thereafter (terms and conditions apply).
  • Comes with Personal Concierge service,
  • Complimentary insurance covers include international travel insurance, purchase protection insurance, and extended warranty insurance.
Cons
  • There is no rewards program on this card.
  • No balance transfer offer.
ANZ Low Rate Credit Card

On ANZ's website

Sign up bonus cashback

N/A

Cashback earned

N/A

Sign up bonus points

N/A

Annual fee

$0.00 for 1st year

Details

  • Enjoy 0% p.a. for 28 months on balance transfers with a 3% balance transfer fee (then reverts to 21.99% p.a.) Terms and Conditions apply.
  • First-year annual fee waived ($58 subsequently).
  • Continuous low rate of 13.74% p.a. on purchases.
  • Enjoy up to 55 days interest-free on purchases by settling your account completely each month.

Pros & cons

Pros
  • Enjoy 0% p.a. on balance transfers up to 28 months.
  • $0 annual fee for the first year ($58 p.a. thereafter).
  • Take advantage of the low purchase interest rate of 13.74% p.a.
  • Add up to 3 additional cardholders at no extra cost.
Cons
  • No purchase or travel insurance included.
  • No rewards program.
ANZ Frequent Flyer Black Credit Card

On ANZ's website

Sign up bonus cashback

$250.00

Cashback earned

N/A

Sign up bonus points

100,000 points and more

Annual fee

$425.00 p.a. ongoing

Details

  • Receive up to 130,000 points. Get 100,000 bonus Qantas Points and $250 cashback to your new card upon spending $5,000 on qualifying purchases within the initial 3 months from approval. Additionally, earn an extra 30,000 bonus Qantas Points by maintaining your card for over 12 months. Terms and Conditions apply.
  • Earn 1 Qantas Point for every $1 spent on eligible purchases, up to $7,500 per statement period.
  • Enjoy 7 complimentary insurances, including International Travel Insurance.

Pros & cons

Pros
  • Earn up to 130,000 bonus Qantas Points and $250 cashback when you meet the criteria.
  • 1 point per $1 spent up to $7,500 per statement period.
  • Earn an uncapped number of points.
  • Enjoy 2 complimentary Qantas Club lounge invitations each year.
  • Comes with complimentary international travel insurance.
  • Up to 55 days interest-free on purchases.
Cons
  • The annual fee of $425 p.a. is high.
  • Earn rate drops to 0.5 points per $1 spent above $7,500 per statement period.
  • No balance transfer offer.
NAB Low Rate Credit Card

On NAB's website

Sign up bonus cashback

N/A

Cashback earned

N/A

Sign up bonus points

N/A

Annual fee

$0.00 for 1st year

Details

  • Experience 0% p.a. on balance transfers for 28 months with a 2% balance transfer fee. Reverting to a variable cash advance rate of 21.74% p.a. after the promotional period.
  • Initial $0 annual card fee for the first year ($59 p.a. thereafter).
  • Receive a response within 60 seconds.

Pros & cons

Pros
  • 0% p.a. on balance transfers for 28 months.
  • A variable purchase rate of 13.49% p.a.
  • The waived annual fee for the first year.
  • Additional credit card is free.
Cons
  • There is a 2% balance transfer fee.
  • No rewards program for this card.
  • No insurance coverage.
ANZ First Visa Credit Card

On ANZ's website

Sign up bonus cashback

$125.00

Cashback earned

N/A

Sign up bonus points

N/A

Annual fee

$0.00 for 1st year

Details

  • Get $125 cashback upon spending $750 on eligible purchases within the initial 3 months after approval. Terms and Conditions apply.
  • Enjoy a $0 annual fee for the first year ($30 p.a. thereafter).
  • Benefit from up to 55 days interest-free on purchases by paying your account in full each month.

Pros & cons

Pros
  • Earn a $125 cashback when you meet the criteria.
  • $0 first-year annual fee.
  • A low minimum credit limit of $1,000.
Cons
  • There are no ANZ Rewards or Qantas Points benefits.
  • There are cards with a lower ongoing purchase rate.

Sign up bonus cashback

N/A

Cashback earned

N/A

Sign up bonus points

N/A

Annual fee

$36.00 p.a. ongoing

Details

  • Receive $200 cashback upon approval, and spend $500 or more monthly for the initial 4 months.
  • No annual fee if spending reaches at least $300 within your statement period.
  • Terms and Conditions apply. Enjoy up to 55 days interest-free.

Pros & cons

Pros
  • Get $200 cashback when you meet the criteria.
  • No annual fee when you meet the spending criteria.
  • Up to 55 days interest-free.
Cons
  • There is no rewards program on this card.
  • No international travel insurance.
  • There's a $3 monthly fee if you do not spend at least $300 in your statement period.
ANZ Frequent Flyer Platinum Credit Card

On ANZ's website

Sign up bonus cashback

$100.00

Cashback earned

N/A

Sign up bonus points

75,000 points and more

Annual fee

$295.00 p.a. ongoing

Details

  • Receive a bonus of 75,000 Qantas points and a $100 back upon spending $2,500 on qualifying purchases within the initial 3 months of approval.
  • Get 0.75 Qantas Points for every $1 spent on eligible purchases (capped at $3,000), and thereafter, earn 0.5 Qantas Points per $1 spent in each statement period.
  • Enjoy a complimentary Qantas Frequent Flyer Membership.

Pros & cons

Pros
  • 75,000 bonus Qantas Frequent Flyer points plus a $100 cashback.
  • Earn 0.75 points per $1 spent up to $3,000 per statement period.
  • Comes with a number of complimentary insurances, including international travel insurance.
  • Up to 55 days interest-free on purchases.
Cons
  • The annual fee of $295 p.a. is high.
  • Although uncapped, the earn rate drops to 0.5 points per $1 on any spend above $3,000 per statement period.
  • There is no balance transfer offer available.
  • It costs $65 p.a. per additional cardholder, which adds up.

What is a cashback credit card?

Cashback credit cards in Australia offer a way to earn money back on your spending, generally with a one-time sign-up cashback bonus for new cardholders or on an ongoing basis as a percentage of your spending.

Different types of cashback credit card

1. Credit cards with gift vouchers or statement credits

Instead of direct cashback to your account, some cards reward your spending with credits that can be redeemed for gift vouchers at various retailers. It is a common feature on premium cards from American Express, Citi, Kogan Money, and other issuers.

2. Credit cards with ongoing cashback on purchases

Although there aren't many to choose from, there is a select few credit cards with cashback as a percentage of your spending. The cashback rate may vary based on the type of purchase or the spending category, such as groceries at supermarkets, fuel, or dining. How much cash you can get back is generally capped, either monthly, annually, or a combination of both.

3. Credit cards with points that can be redeemed for cash

While it is a bit of a workaround, you could earn points on purchases with a rewards credit card and convert them into cash credits on your account or redeem them for gift cards. The flexibility this affords cardholders is appealing. Points can be used to offset the card's annual fee or to pay off some of the account balance.

4. Credit cards with sign-up bonus cashback

The most widely available type of cashback credit card in Australia is one with an introductory cashback offer to attract new customers. Typically the amount of cashback is a fixed amount, requiring the cardholder to spend a certain amount within a specified period of time. In this way, they are much like a sign-up bonus credit card, with cash instead of rewards points. These offers are especially attractive if you already plan to make significant purchases soon after obtaining the card.

How to make the most of a cashback credit card

When selecting a cashback credit card, consider the following factors.

  • Choose a cashback structure that suits your needs. Select a card that fits your financial habits and aims.
  • Meet the spending requirements. If the card has cashback as a sign-up bonus, check what the spending target is and make sure you don't have to extend yourself to trigger it.
  • Be mindful of excluded transactions. Cash withdrawals (and other cash-like transactions), ATO payments, credit card interest payments, and various fees are typically not eligible.
  • Don't forget caps and limits. It's highly likely there will be some limit on how much cashback you can earn. This is usually a fixed dollar amount per month, year, or a combination of both, e.g. $10 per month up to $100 annually.
  • Conversion ratio of points to cash. If you choose to earn rewards points that can be converted to statement credits or gift vouchers, how many points will you need per dollar?
  • Keep up with repayments. Falling behind on payments may result in losing your cashback rewards.

Cashback rewards insight from a Credit Card Compare expert

David Boyd, co-founder of Credit Card Compare

David Boyd, co-founder of Credit Card Compare, explains what the main attraction of a credit card that earns cashback is.

Cashback rewards are generally easier to understand than earning rewards points and cash in your bank account. Whether it's putting those funds towards paying down debts, saving up for a holiday, or even just covering some weekly grocery expenses, credit card cashback appeals to consumers looking to keep things simple while still getting a little extra value from their credit card.

What Australians think about using cashback credit cards

Sentiment among Australians is generally positive towards cashback credit card offers.

Talking about the value they get from credit card offers, one Redditor mentioned that they "get about $2000 in gift cards from churning credit cards each year and it costs me nothing."

Another revealed how "each year my wife and I spend enough on the credit card to get a few thousand dollars in gift cards, which more than covers gifts for birthday's, Christmas, anniversaries etc."

One commenter put it this way: "if you can get 1-5 cents off every single dollar you spend, why wouldn't you?"

An expert's opinion on cashback offers

Andrew Boyd, co-founder of Credit Card Compare

Andrew Boyd, co-founder of CreditCardCompare.com.au, explains the difference in cashback offers.

What you want and what you can get are two very different things. There aren't many credit cards in Australia with cashback on every purchase, and even fewer with no caps. Since points can usually be redeemed for vouchers or gift cards, which is practically the same as cash, cards that earn rewards points are basically the same as cashback cards.

Are cashback credit cards worth it?

Credit cards that earn cashback are most beneficial if you always pay the balance in full each month to avoid interest charges, spend enough to offset the annual fee and earn meaningful cashback, and prefer simple, flexible rewards over points programs.

Annual fees can eat into your cashback earnings if you're not spending enough. Also, cashback rates in Australia are generally lower than they are in comparable overseas markets, typically ranging from 0.5% to 1%. There's also the risk that the promise of cashback might encourage overspending.

To determine if a cashback card is worth it for you, calculate your typical monthly spend and apply the card's cashback rate to estimate your annual returns. Then, subtract the annual fee from your potential cashback. Compare this net benefit against other card options. For example, if you spend $2,500 monthly on a card offering 1% cashback with a $100 annual fee, you'd earn $300 in cashback but net only $200 after the fee.

Secondary features like airport lounge access or insurance may add more in terms of value, but only if you actually use them.

Help choosing a cashback credit card

How a cashback credit card can give back some of your spending in dollars.

  • FAQs

  • Pros & cons

  • Alternatives

  • Why trust us

Can you earn cashback on all purchases?

While most purchases qualify for cashback rewards, some transactions, such as cash advances, balance transfers, and certain fees, will not be eligible to earn cashback. Refer to your card's terms and conditions for specifics on qualifying purchases.

Are cashback credit cards suitable for everyone?

Cashback credit cards can be beneficial for people who regularly use their credit cards for everyday expenses and pay off their balances in full each month. However, cashback credit cards may not be the best option for those who carry a balance or prefer different types of rewards, such as travel points or miles.

Is it worth paying an annual fee just for credit card cashback?

If you use your credit card frequently enough to earn substantial numbers of rewards points, benefits, or cash back, the cost of an annual fee may be worth it. Those who do not use their credit cards that much, and therefore, fail to qualify for rewards or benefits, the perks may be of no use to you. If this is the case, look for a different credit card that suits your needs better.

What's the difference between rewards and cashback credit cards?

Rewards credit cards enable you to earn points on your spending charged to the card, which you can redeem in a variety of ways. Cashback credits cards are a type of rewards cards. They let you get instant rewards by way of cash back (in your account) depending on what you spend.

Do balance transfers qualify for cashback?

No. A credit card balance transfer will not qualify for cashback.

Pros

Unmatched flexibility in rewards

Cashback credit cards stand out for their flexibility, since they earn cash instead of points. Cardholders can use their cash rewards however they like.

Simplicity

These cards offer a straightforward value proposition: spend money and earn cash as your reward for doing so.

Cons

Caps

Most cashback cards are capped such that there is a limit to how much cashback can be earned in a given period or for a given amount of spend.

Higher costs

Non-introductory rates and fees for the most rewarding cashback cards tend to be higher than average.

Fees and rates can offset cashback

If you carry a balance, the value of whatever cashback is earned can be quickly offset by the higher interest rates and annual fees associated with these cards.

Frequent flyer credit cards

Rather than getting rewards as cash, Australian frequent flyer credit cards most commonly earn Qantas Points or Velocity Points.

Frequent flyer credit cards and cashback credit cards both typically have some sort of sign-up bonus. However, frequent flyer credit cards typically have fewer restrictions on earning points compared with cashback credit cards, many of which are capped to a fairly small value for the month or year.

That said, earning cashback may be an easier concept to understand and manage than earning points.

Rewards credit cards

While similar to cashback cards, rewards cards earn points that can be redeemed for travel, goods, and services. They're more suited to those who prefer to travel.

Although there are caps and tiers on rewards credit cards, they tend to be much higher than the limits imposed on cashback credit cards. In other words, you can continue earning rewards points on more of your spend than you would earn cashback.

Methodology

To determine inclusion and ranking in our cashback credit card comparison table, our team compared the metadata for the following attributes of each card.

  • Annual fee initial year: How much the annual card fee is for the first year. Lower is better.
  • Annual fee ongoing: Whether there is an ongoing annual fee and how much it is. Lower is better.
  • Apple Pay enabled: Whether the card is compatible with Apple Pay. Considered beneficial if possible.
  • Balance transfer offer: Whether the card has an introductory balance transfer offer and what the rates, fees, and terms are. Lower rates for longer are considered better.
  • Card type: If the card runs on American Express, Mastercard, Visa, etc. since this can affect its acceptance.
  • Cashback terms: If the card's cashback program has limitations on how much can be earned.
  • Cashback type: Whether the card earns cashback on all spend, offers cashback as a sign-up offer, offers cashback in the form of vouchers, or earns points that can be converted to and redeemed as cash.
  • Foreign exchange fee: If there is a fee to process transactions overseas or in a foreign currency. Lower is better.
  • Interest-free period: how many interest-free days are available if balance cleared in full. Longer is better.
  • Introductory purchase rate: If an introductory offer on purchase is available and its associated rates, fees, period, and terms. Lower rates for a longer period is considered better.
  • Late payment fee: The fee charged if the minimum repayment is not made by the due date. Lower is better.
  • Maximum credit limit: If published, the highest possible credit limit offered.
  • Minimum credit limit: If published, the lowest credit limit offered.
  • Minimum income required: If published, the minimum amount of income required as part of the bank's criteria to qualify for the card. Lower thresholds make the card available to more applicants.
  • Purchase rate ongoing: What the standard interest rate is on purchases that remain on the balance after any introductory offers expire. Lower is better.
  • Rewards program: If the card is linked with a rewards program.
  • Samsung Pay enabled: If the card is compatible with Samsung Pay. Considered beneficial if possible.
  • Sign-up bonus: If there is a sign-up bonus and what the criteria is to get it. A larger sign-up bonus with lower criteria is considered better.

Our rankings may not reflect what matters most to you. Be sure to compare key rates, fees, and features against your own financial priorities before deciding.

Sources

  1. Australian consumer loyalty survey — McKinsey & Company
  2. Australian loyalty schemes: a Loyalty & Reward Co report for the ACCC — APO
  3. Australia loyalty programs market intelligence and future growth dynamics databook — Research and Markets
  4. Credit card minimum repayment only calculator — Credit Card Compare
  5. Kickback
  6. Scams — Financial Rights
  7. The rise and rise of cash back programs — Power Retail

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