Here are the top credit cards with cashback offers based on their Finder Scores:
Updated November 2024 by Finder's money editor, Richard Whitten.
The Finder Score helps you sort the junk from the gold so you can compare products faster.
Each month we carefully analyse over 250 credit card products and assess nine features and benefits of each card.
We assign scores out of 10 for each feature, and adjust the scores depending on what category we're looking at. The same card will receive a different score within each category, depending on the features being assessed.
For cashback credit cards, we focus heavily on the quality of the cashback being offered, along with rates and fees.
To qualify for this category, credit cards must:
The Finder Score methodology is designed by our insights and editorial team. Commercial partners carry no weight, and all products are reviewed objectively.
Remember that Finder Score is just one factor to consider. Look at other aspects like fees, features, benefits and risks to make sure a product is suitable for you.
| Feature | Definition | Assessment | Weight |
|---|---|---|---|
| Cashback Value | The value of cash returned per dollar spent | Higher cashback rewards result in higher scores | 60% |
| Purchase Rate | Interest rate on new purchases | Lower rates receive higher scores (up to 21.24% max) | 15% |
| First-Year Fee | Fee charged for the first year of card ownership | Lower fees receive higher scores ($0 fee scores highest) | 10% |
| Ongoing Annual Fee | Fee charged from the second year onwards | Lower fees receive higher scores ($0 fee scores highest) | 5% |
| Earn Rate | Points earned for every dollar spent on eligible purchases | Points awarded per dollar (up to 1.5) | 2% |
| Balance Transfer Intro Period | The length of the balance transfer period | Longer periods are awarded higher scores | 2% |
| Balance Transfer Intro Rate | The rate applied to balance transfers | Lower rates receive higher scores (up to 21.99% max) | 2% |
| Balance Transfer Revert Rate | The interest rate charged after the BT period ends | Lower rates receive higher scores (up to 22.24% max) | 2% |
| Travel Insurance | Travel insurance offered with card | Cards that include travel insurance receive the full 10 points | 2% |
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A cashback credit card gives you money back on your statement or vouchers for your spending.
The most common cashback offers are:
Most rewards credit cards give you the option to convert your reward points into cashback. You can convert 1,250 ANZ Reward Points to a $5 cashback, for example.
The CommBank Yello Cashback Offers program gives people with an eligible Commonwealth Bank credit card or debit card access to cashback offers through the CommBank app. And people with a Westpac credit card can get cashback offers through Westpac Extras.
Several credit cards on that market give you back a percentage of your regular spending ongoing: the BCU Rewards Credit Card, ING Orange One Rewards Platinum and the Queensland Country Bank Visa My Rewards Card.
BCU limits your cashback amount to $500 a year and ING limits the cashback amount to $30 a month or $360 a year. Queensland Country Bank reward dollars are capped at $70 per month or $840 a year.
"I think of cashbacks as a nice little benefit that some cheaper, low rate credit cards offer. The cashback usually outweighs the annual fee but overall it's not the biggest card perk. If you get a more expensive points-earning card you could earn Qantas or Velocity Points worth thousands of dollars. Of course, these cards are for bigger spenders. And some cards offer both a cashback and frequent flyer points! "
As with all credit cards, make sure you compare and understand the rates, fees and standard features. If you are interested in getting a credit card with cash back rewards, here are some other specific details to compare:
Let's say you get a credit card that offers 1% cashback on everyday purchases. The card also has a $150 annual fee.
In this example the card could still be worth it, if you get other benefits from it like points or complimentary travel insurance. But for the cashback alone it's not worth it.
Obsessed with offers -we live track over 15+ offers daily. Big banks, small, new and all inbetween, our goal is to get you more cash back in your pocket.
Ranked objectively - nobody wants short term gain for long term crappy card. That's why we score all cards objectively so you can see how they stack up with a simple score out of 10.
No BS - we're not owned by a bank, we don't have a call centre. Our only mission is to match you with the card of your dreams. Whether it's your first card, or you're a cash back regular - we got you.
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