Cashback Credit Card

Cashback is one of the most popular rewards when it comes to redeeming reward points.

Below listed are the cash-back reward cards currently on offer for online application in Australia. Note that all Commonwealth Bank with ‘Awards’ programs come with cash-back opportunities.

To find out more about cashback offers, and the difference between 'moneyback' credit cards and 'cashback reward' card, read through the guide below:

Best Cashback Credit Card

The American Express Platinum Money Back Card gives you more cash back compared to any of the other Australian credit card. Benefit from 5% cash back on purchases for the first 3 months followed by an ongoing 1 cash back on purchases with no limits after that.

• $99 annual fee
• 20.49% p.a. on purchases
• Unlimited cash back on purchases so you receive discounts on every purchase you make

Click here to read the American Express Platinum MoneyBack Card terms and conditions

Comparison of Cash Back Credit Cards

Credit Card	Card Details	Interest Rate (p.a.)	Cash Advance Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual fee	Interest free days (up to)
American Express Platinum MoneyBack Card	The card that gives you more cash back than any other credit card. Earn 5% Money Back on purchases for the first 3 months followed by an ongoing 1% thereafter	20.49%			$99	44
Citibank BP Card	0.5% cashback on every purchase. 5% off petrol & purchases made at BP Petrol stations.	20.89%	20.89%	1.9% for 12 months	$79	55
ANZ Balance Visa	1 Reward Point for every $1 you repay to your balance. $20, $50 or $100 cashback amounts redeemable.	14.24%	21.49%	0% for 6 months	$79	55

The 3 Best Australian Cash Back Credit Cards*

A list like this one is always going to be subjective in some way. The reason for this is that different people have different situations in their financial lives and those situations by definition lend themselves to different cash back credit cards being ideal.

With that being recognized, it is also true that commentaries can be made on the best* Australian cash back credit cards with the idea of giving the reader a good amount of insight into the thinking processes behind figuring out which credit cards are good and which credit cards are bad. With that in mind, here is a possible list for the three best* Australian Cash Back Credit Cards:

Card #1: Commonwealth Bank Awards Card

In the lingo of Australia’s Commonwealth Bank, awards programs are essentially the same as cash back programs with the ebxception that they are transacted in points converted to dollars rather than just a percentage of purchases figure.

You get a point for every dollar spent on the credit card and then at the end of the day 100 points will get you a dollar in cash back. You need a minimum of 4000 points to turn in for conversion to cash however, but the trade-off you get with this is that you can convert whenever you want as opposed to waiting for a cheque at the end of the year.

Card #2: Citibank BP MasterCard

There are a number of MasterCard products around that invoke the cash back program in order to sell, but the Citibank BP MasterCard is definitely one of the better ones. Citibank is one of the most trusted financial institutions in the world and their massive list of credit cards is proof enough of that particular fact.

In addition to this well known fact there is also the idea that the Citibank BP MasterCard comes with 5% off everything you purchase at BP locations as well as a universal 0.5% cash back on all other purchases.

Card #3: American Express Moneyback Card

One of the main candidates for leading cash back credit card in Australia definitely has to be the American Express Moneyback Card.

The main reason for that has to do with the fact that as far as cash back is concerned, it is arguably the most competitive around. Unfortunately, it will be harder to rack up moneyback on your purchases as American Express is limited in the places it's accepted, as opposed to the universal acceptance of Visa and MasterCard.

All of the purchases that you make on this card are given a cash back of 1% with no maximum at any point in time. In addition to that however, during the first three months you use the card you will get a 5% introductory cash back rate up to a maximum of $300.

Related Articles:

• 8 ways to make the most of cash-back credit cards [ConsumerReports.org]

* The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.com.au has access to track details from. ‘Best and ‘Top’ are ratings which are subject to our consideration and is not rated against all Australian credit cards. We recommend you take this information into account when comparing credit cards.

• How to Take Advantage of Introductory Cash Back Offers
  

  Learn how to take advantage of cash back offers available from some Australian credit card issuers.



• BP Credit Card – Compare BP Petrol Credit Cards & Apply Online
  

  BP is a company known for their petroleum products. But apart from energy related products they now have a credit card in their name. This articles gives an overview of the BP credit card.



• Save Money While Using Your Credit Card
  

  Using a cash-back credit card helps you save money even in the midst of spending. If you have the money to spare you can put it into a high interest account, but when you need to spend and save at the same time these cards are an excellent option. All you have to do is spend on your card and you can earn money back to start saving the easy way.



• Rewards Credit Card with Cashback
  

  Different credit cards suit different people. These days, credit card companies offer various rewards for using their credit cards. Read on to find out if a rewards credit card with cashback is the right kind of card for you.



• Rewards Credit Cards with Cashback
  

  With all the rewards cards out there, there are ones that offer cashback can be quite beneficial if you know how to use them the right way. Not all programs are created equal so you must be certain the one you choose will be worth your while. Choosing the right one will not only bring you rewards but may put a little cash in your pocket at the same time.



• How To More Effectively Use A Cash-Back Credit Card
  

  Today there are over 14 million credit cards in circulation in Australia. ‘Rewards’ credit cards have become very popular. These cards allow the consumer to accrue benefits such as cash-back or points which can be used towards shopping, travelling or paying for services.



• Get more out of a Cash-Back credit card
  

  Get the maximum benefit out of your cash-back credit cards by looking at the reasons why you have the card, checking the fees applicable to late payments, annual fees and whether there is a cap on the maximum cash-back amount. After comparing a few companies, these 5 ways came to light which you can use to get more out of a cash-back credit card.



• Why Do I Need To Repay My Balance In Full With Cashback Credit Cards?
  

  Learn why paying off our cashback credit card balance each month is so important to your bottom line. Plus get insider knowledge about cash advances and why they are a big deal.



• Cashback Credit Cards – should you get one?
  

  Chosen carefully, a cash back credit card can work very well for you. This article goes in to the various things you should be aware of when applying for a cashback credit card including a full explanation as to how they work.



• The Ultimate Cashback Rewards Guide
  

  Cashback on credit cards are a concept of intrigue, misunderstanding and ultimately appeal.
  
  
  This new guide will clear any confusions or misconceptions you may have about cashback credit cards and provide you with the most competitive cashback reward cards currently available for online application.



• How does a Cashback Credit Card Work?
  

  Cashback credit cards have become some of the most popular credit cards in the world today and the plain simple truth of the matter is that in this particular respect, Australia is no different. There are cashback credit cards dominating their particular fields in terms of statistics in Australia and that is definitely something that people enjoy extensively because it allows them the chance to talk to their friends about exactly what they can get out of their cashback credit cards.
  There has been more consumer enthusiasm about cashback cards than any other credit card type when it debuted on the market, practically leveling in popularly with frequent flyer credit cards.







Editor's Choice: Our Top Credit Cards




Credit Card	Card Details	Interest Rate (p.a.)	Cash Advance Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual fee	Interest free days (up to)
HSBC Credit Card	Editor's Choice: 0% for 6 months Balance Transfer & No Annual Fee Featuring a $0 annual fee for life, and 0% p.a. balance transfer for 6 months, the HSBC Credit Card was voted the Best Transactor Credit Card for 2010.	16.99%	20.75%	0% for 6 months	$0	55
Suncorp Clear Options Standard Visa Card	A great 12 month balance transfer offer, combined with a low annual fee and a good interest rate on purchases.	12.24%	17.99%	1.9% for 12 months	$39	0