Compare cashback credit card offers
Most cashback in Australia is a sign-up offer: the bank credits your account once you reach a spending target in the first few months. The value depends on whether you would have spent that amount anyway.
| Card | Cashback offer | Purchase rate | Card fee | Link |
|---|---|---|---|---|
| St.George Vertigo | Up to $450: $75 for each month you spend $1,000 or more on eligible purchases in the first 6 months. Offered as an alternative to the 20-month balance transfer offer. | 13.99% p.a. | $7 a month ($84 a year) | View on St.George site |
| Westpac Low Rate Card | Up to $450: $75 for each month you spend $1,000 or more on eligible purchases in the first 6 months. Offered as an alternative to the balance transfer offer. | 13.74% p.a. | $7 a month ($84 a year) | View on Westpac site |
| CommBank Low Rate Credit Card | Up to $420: $70 for each month you spend $500 or more in the first 6 months. | 10.99% to 15.99% p.a. (personalised on approval) | $6 a month ($72 a year) | View on CommBank site |
| ANZ Low Rate | $400 back when you spend $5,000 on eligible purchases in the first 6 months. Offered as an alternative to the balance transfer offer. | 13.74% p.a. | $58 a year | View on ANZ site |
| NAB Low Rate Card | $400 when you spend $5,000 on purchases in the first 150 days. Offered as an alternative to the 26-month balance transfer offer. | 13.99% p.a. | $99 a year | View on NAB site |
| NAB Low Fee Card | $250 when you spend $1,500 on purchases in the first 90 days. | 22.49% p.a. | $49 a year | View on NAB site |
| CommBank Low Fee Credit Card | Up to $240: $40 for each month you spend $500 or more in the first 6 months. | 20.99% p.a. | $0 in any month you spend $300 or more, otherwise $3 a month | View on CommBank site |
Offers are for new cardholders. Banks commonly exclude people who have held one of their cards in the last 24 months. Providers can change or withdraw offers at any time.
What to compare
The spend target and how it is structured
A monthly target is harder to hit than it looks. To collect the full $450 from St.George or Westpac you need to spend $1,000 or more in each of six statement periods, $6,000 in total. Miss a month and you miss that month’s $75. NAB’s offers use a single target instead: $5,000 in 150 days, or $1,500 in 90 days on the Low Fee card.
What counts as eligible spending
Cash advances, balance transfers, fees and refunds generally don’t count, and some banks also exclude government payments and BPAY. Refunds can reduce your total for the period.
The fee you pay to get it
Subtract the first year’s card fee. $450 cashback on a card costing $84 a year is worth $366 in year one. After the offer ends you are left with the ongoing fee and rate.
Interest
Cashback is quickly wiped out if you carry a balance. At 22.49% p.a., a $1,500 balance costs about $28 a month in interest.
Common questions
When is cashback paid?
Usually as a statement credit some weeks after you meet the target. CommBank and St.George both allow up to 90 days.
Can I get cashback and a balance transfer?
On the ANZ Low Rate, NAB Low Rate, St.George Vertigo and Westpac Low Rate cards the main cashback and balance transfer offers are alternatives, and you pick one when you apply.