Cash rebate credit cards have a number of different ways in which you earn money back as you spend. Finding the best offer is highly dependent on your spending profile and the amount you purchase every month. A quick comparison of the cashback cards available in Australia shows that there are some restrictions and caps on which purchases you can actually get money back on. Some cards have a monthly cap on the amount that you can get cash back on with 5% being the highest rebate rate on offer.
| Image | Name | Annual Fee | Balance Transfer Rate | Cash Advance Rate | Purchase Rate | Apply |
|---|---|---|---|---|---|---|
 |
American Express Platinum Moneyback Credit Card
Unlimited MoneyBack for all purchases |
$99 | - | 20.499% p.a. | 19.99% p.a. | |
 |
ANZ Balance Visa Card
Choose Balance Transfer for 6 months or 12 months |
$79 | 0% p.a. | 21.49% p.a. | 14.24% p.a. | |
 |
HSBC Credit Card
No Annual Fee for Life. Get $50 cash back. |
$0 | 0% p.a. | 20.75% p.a. | 16.99% p.a. | |
 |
BP-Citibank Credit Card
Save on Petrol. Cash Back Credit Card |
$79 | 1.9% p.a. | 20.89% p.a. | 20.89% p.a. |
You will notice from the comparison table that this type of card typically has higher interest rates when compared to others, which begs the question: who is best suited to having a cash back card? The answer in short is anyone with a good credit history, who puts a few thousand on credit every month and are in good shape to pay off their balance at the end of each month. If you don’t usually pay off your balance every month then you will be better served by a low interest credit card with an ongoing low rate for purchases.