Are cashback cards right for everyone?

They suit people who use a card for everyday spending and pay the balance in full each month. They may not suit anyone who carries a balance or prefers points or miles.

Is it worth paying an annual fee for cashback?

If you spend enough to earn cashback and perks worth more than the fee, it can be. If you use the card lightly and don't earn much, a no-fee card may suit you better.

What's the difference between rewards and cashback cards?

Rewards cards earn points you redeem in various ways. Cashback cards are a type of rewards card that gives cash back to your account based on what you spend.

Do balance transfers earn cashback?

No. A balance transfer doesn't earn cashback.

Best cashback credit cards

Tired of everyday spending without any kickback? Compare cashback credit cards in Australia, with some offering up to $450 cashback.

Earn cash back on everyday spending
Sign-up cashback offers up to $450
Simple rewards, no points to manage

Written by Nilooka DissanayakeReviewed by Vidhu Bajaj and David Boyd

Featured

Latitude GO Mastercard

12 months at 0% p.a. on balance transfers
No fee to add an additional cardholder

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How much cashback could you earn?

Enter your monthly spend to see each card's estimated first-year cashback, after the annual fee.

Compare 17 cashback credit cards

Credit card comparison table with rates, fees, rewards and apply links.
Name and rating	Cashback offer	Interest-free days	Annual fee	First-year value
FeaturedMONEYME Cashback Rewards Credit Card	1% ongoing	Up to 44	$149	+$211 / yr$360 cashback, less $149 fee
FeaturedLatitude GO Mastercard	$300 sign-up	Up to 55	$131	+$169 / yr$300 sign-up, less $131 fee
St.George Vertigo Card - Cashback Offer	$450 sign-up	Up to 55	$55	+$395 / yr$450 sign-up, less $55 fee	60 second approval
Bank of Melbourne Vertigo Card - Cashback Offer	$450 sign-up	Up to 55	$55	+$395 / yr$450 sign-up, less $55 fee	60 second approval
BankSA Vertigo - Cashback Offer	$450 sign-up	Up to 55	$55	+$395 / yr$450 sign-up, less $55 fee	60 second approval
Westpac Low Rate Card - Cashback Offer	$450 sign-up	Up to 55	$59	+$391 / yr$450 sign-up, less $59 fee	60 second approval
ANZ Platinum Credit Card 19 reviews	$450 sign-up	Up to 55	$0	+$450 / yr$450 sign-up	60 second approval
CommBank Low Rate Credit Card 95 reviews	$420 sign-up	Up to 55	$72	+$348 / yr$420 sign-up, less $72 fee	60 second approval
ANZ Low Rate - Credit Back Offer	$400 sign-up	Up to 55	$58	+$342 / yr$400 sign-up, less $58 fee	60 second approval
NAB Low Rate - Cashback Offer	$400 sign-up	Up to 55	$59	+$341 / yr$400 sign-up, less $59 fee	60 second approval
ING Orange One Rewards Platinum	1% ongoing	Up to 45	$149	+$211 / yr$360 cashback, less $149 fee
CommBank Low Fee Credit Card 85 reviews	$240 sign-up	Up to 55	$36	+$204 / yr$240 sign-up, less $36 fee	60 second approval
Westpac Low Fee Card	$240 sign-up	Up to 55	$0	+$240 / yr$240 sign-up	60 second approval
ANZ First 80 reviews	$220 sign-up	Up to 55	$30	+$190 / yr$220 sign-up, less $30 fee	60 second approval
NAB Low Fee Card 48 reviews	$250 sign-up	Up to 44	$49	+$201 / yr$250 sign-up, less $49 fee	60 second approval
BCU Rewards Credit Card	0.49% ongoing	Up to 52	$89	+$87 / yr$176 cashback, less $89 fee
Great Southern Bank Platinum Credit Card	0.5% ongoing	Up to 55	$144	+$36 / yr$180 cashback, less $144 fee

Cashback by the numbers

Cards compared

$450

Highest sign-up cashback

Top ongoing rate

$70

Average annual fee

What is a cashback credit card?

Cashback cards earn money back on your spending, usually as a one-off sign-up bonus for new cardholders or as an ongoing percentage of what you spend.

Types of cashback cards

Not all cashback cards work the same way. Some pay cash straight to your account, others give points you convert to cashback, and some only pay on certain categories or above a minimum spend.

Common types: statement credits or gift vouchers; ongoing cashback as a percentage of spend; points you redeem for cash; and sign-up cashback for new customers, usually a fixed amount once you meet a spend target.

How to make the most of a cashback card

Pick a cashback structure that fits how you spend, meet any spend requirement, watch for excluded transactions, and note the caps and limits.

Use it with care. Annual fees, high interest and spending conditions can cut the value, and if you don't pay in full, interest soon outweighs any cashback.

Is cashback taxed in Australia?

For personal spending, cashback is generally not taxable income. The ATO treats it as a discount or rebate rather than assessable income, so you don't report it in your return.

Business use can differ. Under the ATO's guidance, rewards may be taxable if they're tied to an income-earning activity. If in doubt, check with a tax adviser.

Cashback credit card FAQs

Most purchases qualify, but some don't, such as cash advances, balance transfers and certain fees. Check your card's terms for the qualifying purchases.

How do cashback cards compare?

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Questions and answers

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Related card types

Altitude Rewards credit cards American Express Membership Rewards credit cards Amplify Rewards credit cards ANZ Rewards credit cards Compare rewards cards Credit cards for ATO payments

Sources

Credit Card Compare: Australian credit card statisticsHow CardIQ scores cards