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The 5 Best Cashback Credit Cards in Australia

Looking for the best cashback credit card? Look no further, we’ve compared signup bonuses, annual fees, points, rewards systems and other additional benefits to find the six best cashback credit cards offered in Australia.

Credit Cards

Bonus Reward Points

Annual fee

150,000 ANZ Reward Points


140,000 Altitude Points


150,000 Citi Reward Points


$400 Credit


$200 Travel Credit


1. The ANZ Rewards Black Credit Card

150,000 extra ANZ Reward Points

$150 back to your new ANZ Rewards Black card when you spend $3,000 on eligible purchases in the first 3 months

Earn 2 ANZ Reward Points for every $1 spent up to and including $5,000*

Earn 1 ANZ Reward Point for every $1 spent over $5,000*

$375 Annual fee

Up to 55 days interest free

20.24% interest after interest free period
annual fee
days interest free
interest after interest free period
ANZ Reward Points

2. The Westpac Altitude Rewards Black Card

140,000 bonus Altitude Points

6 pts/$1 on Qantas, Jetstar, Singapore Airlines and Emirates flights bought in Australia, eligibility criteria apply.

2 pts/$1 at Spotify Premium, David Jones, Myer, THE ICONIC, Airbnb, Uber and Uber Eats

1.25 pts/$6 on all other eligible purchases

19.99% p.a. variable purchase rate

21.49% p.a. variable cash advance rate

$250 annual fee

Up to 45 days interest free
annual fee
bonus Altitude Points
Days Interest Free
variable cash advance rate

3. The Citibank Rewards Card

150,000 bonus Citi reward Points

$0 for the first year, $149 in subsequent years

Earn 1 Citi reward Point per dollar spent on Eligible Transactions, up to $10,000 Domestic Spend per statement period

0% p.a. Retail purchase rate for first 14 months. This reverts to variable retail purchase rate, currently 21.49% p.a.

10% off Luxury Escapes (up to $250) Limited Time Lux Exclusive hotel offers until 1 March 2024.

1 Citi reward point per $1 spent
annual fee for the first year
bonus Citi Rewards Points
days interest free
cash advance rate

4. The Kogan Money Credit Card

$0 Annual Fee

Earn 2 rewards points per dollar on your eligible spend at
(1000 Points = $10 of Credit)

Earn 1 rewards point per dollar on your everyday purchases, almost anywhere

0% p.a. for 12 months on balance transfers (no balance transfer fee applies)

Earn $400 Credit when you spend $1,500 on eligible purchases in the first 90 days from card approval

0% p.a. for up to 24 months when you pay with instalments at

Add up to 4 additional cardholders at no cost

20.99% p.a. retail purchase rate
annual fee
Days Interest Free
for up to 24 months when you pay with instalments at
cash advance rate

5. The American Express Platinum Edge Credit Card

Enjoy $0 Annual Card Fee (usually $195) in the first year when you apply online and are approved. T&Cs apply. New Card Members only. Offer subject to change without notice.

23.99% p.a. on purchases

3 points at major supermarkets and petrol stations per $1 spent

2 points on purchases in a foreign currency when overseas and online per $1 spent

1 point on all other purchases per $1 spent

$200 to spend on travel each year
annual fee
days interest free
on purchases

Frequently asked questions

How does a cashback credit card work?

A cashback credit card allows you to earn a percentage of your purchases back. The cashback rate varies from card to card, generally ranging between 1-5% cashback.

To apply for a cashback credit card, first review and compare the cards available, and then apply directly from a credit card issuer. There are a variety of conditions to qualify for cashback, for example, a minimum monthly spend, a minimum deposit in the required account (etc).
The cashback you receive will be calculated based on your total spend. The cashback will be credited to your account, redeemed as either statement credit towards your balance or cash deposited into your bank account.

To avoid high-interest rates, ensure you pay your credit card bill on time and in full.
Don’t forget to read the terms and conditions of your credit card to understand the cashback returns, any fees, and other benefits of your card.

Are cashback cards worth it?

Cashback credit cards can have extensive benefits, provided they are paid back on time and in full. Their worth differs from card to card, but ultimately comes down to individual benefits and whether the cashback card user is taking advantage of all the benefits. To customers who don’t pay off the credit card bills in full and on time, cashback credit cards are not recommended.

What credit cards do you get cash back?

There are a variety of cashback credit cards, the ones outlined and compared above include: ANZ Rewards Black credit card, Westpac Altitude Rewards Black Card, Citibank Rewards Card, Kogan Money Credit Card and American Express Platinum Edge Credit Card.

Is cashback taxable income Australia?

According to the ATO, cashback income is not taxable income - and does not need to be declared. 

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Hey, I’m Queenie.

I’m a licensed personal finance content creator. My mission is to help your money go further and I do this by creating educational videos to help inspire you to create a better financial future for yourself and your community.

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