Top Cash Back Credit Card Offers

What Are Cash Back Credit Cards?

Cash back credit cards are a type of credit card that offers an opportunity to earn cash on purchases. While the reward is typically given back as cash, some cards may give rewards as credits that can offset future purchases or reduce the card’s balance. Many cash back credit cards in Australia have introductory promotions for earning cash back.

These cards are designed to incentivize cardholders to use their cards more often. Cardholders may earn cash back on a range of purchases, including groceries, petrol, dining, and entertainment. Some cash back credit cards offer higher cash back rates on specific categories of spending, while others offer a flat rate on all purchases.¹

Cash Back Credit Card Advantages

There are several advantages to using a cash back credit card. Perhaps the most significant benefit is the ability to earn cash back on purchases. This can be particularly attractive for consumers who use their credit cards regularly and want to offset some of their expenses.

Another advantage of cash back credit cards is that consumers may be able to find a card that rewards them at a higher rate for certain purchases they make frequently. For instance, some cards offer higher cash back rates on certain spending categories or at specific stores.

However, cash back credit cards have some potential drawbacks like any credit card. For example, they may come with high interest rates and fees. Additionally, the credit card company may put a cap on cash back rewards. So, it’s smart to compare all of your options.²

Top Credit Cards With Cash Back Offers

Australians have several cash back credit cards to consider. While it’s great to have a variety of options, it can be overwhelming to get started. With this in mind, here are some cash back credit cards worth considering in Australia.

• Westpac Low Rate Credit Card: This card offers a cash back promotion of up to $250 where cardholders can earn $50 cash back per month for the first 5 months after approval. The card also comes with a low interest rate of 13.74% p.a. and a $59 annual fee.³
• American Express Essential Credit Card: This card offers a cash back promotion of $100 when cardholders spend $1,500 on eligible purchases during the first three months of having the card. There’s no annual fee and cardholders can earn membership rewards points.⁴
• ANZ Low Rate Credit Card: This card offers cardholders an opportunity to earn cash back from thousands of retailers by linking their credit cards with the Cashrewards program. The card also comes with a low interest rate of 12.49% p.a. and a $58 annual fee.⁵
• Citi Clear Credit Card: This card offers a cash back promotion of $400 cash back if cardholders spend $3,000 on eligible purchases during the first 90 days after approval. It also provides cash back offers every month. The annual fee is $49 during the first year.⁶

These are just a few examples of the many cash back credit cards available in Australia, so it’s important to research and compare options before choosing one. Since some cards are easier to get than others, it’s good to research your options thoroughly. By doing so, you can find a card that aligns with your spending habits and financial situation.

Choosing the Right Cash Back Credit Card for You

Cash back credit cards can be a great way to earn rewards and offset some expenses. These cards offer cash back on purchases, making them an attractive option for those who use credit cards regularly. Moreover, some cards provide higher cash back rewards for certain categories of spending, offering even more value for cardholders.

When choosing a cash back credit card, it’s important to compare options and find the card that most suits your needs. Consider the cash back offer, annual fee, interest rate, and any additional cardholder perks or benefits. With so many options available, taking the time to research and compare can help you narrow down your options.