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American Express Cashback Card - 1% Cashback (+Bonus 5% Cashback up to $200 for New AmEx Members), Free BINGE Basic, $10/Mth Fee

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American Express Cashback Card - 1% Cashback (+Bonus 5% Cashback up to $200 for New AmEx Members), Free BINGE Basic, $10/Mth Fee
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Cashback
b3au on 23/04/2021 - 10:52 americanexpress.com (564 clicks)

American Express' first Cashback card in Australia.

$10 Monthly Fee

  • 5% BONUS CASHBACK for your first 3 months up to $200. New Card Members Only
  • 1.5% BONUS CASHBACK when you save Shop Small Offer and spend at participating businesses. Up to $200 Cashback. Valid until 22/03/2022

  • 1% CASHBACK on all purchases for every $1 spent, excluding government bodies in Australia where you earn 0.5% cashback

  • Monthly BINGE subscription on us
    With new content added daily, BINGE is packed with the world's best shows, the biggest dramas, plus comedy, reality, crime, docos, movies and more. For BINGE Basic valued at $10/month

  • Smartphone Screen Insurance
    Cover for smartphone screen repairs up to $500 for each repair, when you purchase your phone outright or pay your monthly phone bills with your American Express CashbackTM Credit Card.

T&Cs;

Bonus & Eligibility. 5% Bonus Cashback offer is only available for the first three months of card membership and is capped at $200 Cashback. Offer only available to new American Express Card Members who apply online and are approved. Card Members who currently hold or who have previously held any Card product issued by American Express Australia Limited in the preceding 18 month period are ineligible for this offer. This offer is on top of the base 1% Cashback which has no cap, full terms and conditions can be found here. Eligible purchases do not include interest, fees, balance transfers or converted balances (from both American Express and other issuers), loading of pre-paid cards, or foreign exchange transactions. The 5% Bonus Cashback will be awarded to the eligible Card Member’s account at the end of each monthly statement, however may take 8-10 weeks. This advertised offer is not applicable or valid in conjunction with any other advertised or promotional offer and may be removed at any time.
Interest Rate. This interest rate does not apply for Cash Advances and associated fees.
Interest Free Period. You will have up to 55 days interest free on purchases provided you pay the full closing balance of your monthly statement by the due date each month. There is no interest free period on balance transfers or if you carry forward a balance from the previous statement period. The total of interest free days will depend on when you make the purchase and when your statement is issued.
Shop Small: You must spend on the Card to which the offer is saved in-store or online at a participating Shop Small business. For participating in-store businesses click here. Participating businesses will be highlighted with a Shop Small Offer badge. For participating online businesses click here. Excludes gift card purchases. Maximum of $200 can be earned per Card to which the offer is saved and only spend on this Card counts towards the offer. Excludes transactions made through a third party establishment or payment processor. Credit is not redeemable for cash or other payment form. Credit should appear on your billing statement within 5 business days from qualifying spend but may take up to 90 days from the offer end date. Credit will not be applied to your Card Account if your Card has been suspended or cancelled. Credit may be reversed if your qualifying purchase is refunded or cancelled. Full Offer Terms available here.
Cashback. Subject to the Terms and Conditions of the American Express CashbackTM Credit Card Rebate Program available here. Eligible purchases must be at least $1 and the value of each purchase will be rounded down to the nearest dollar before Cashback is calculated. Transactions with government bodies will earn at the rate of 0.5% per dollar spent. Merchants classified as government, include the Australian Taxation Office, the Australian Postal Corporation (Australia Post), federal/state and local government bodies, including where you use a payment account, payment aggregator, services of a third party or online retailers that sell goods for another merchant. Eligible purchases do not include interest, fees, balance transfers or converted balances (from both American Express and other issuers), loading of pre-paid cards, or foreign exchange transactions. Cashback will be paid to you as a statement credit to your Account each month and included in your monthly statement. Cashback is not redeemable for cash, including through a credit balance refund. We will only credit your account if it is in good standing and not overdue.
BINGE subscription. Based on BINGE Basic. Must pay for subscription using American Express CashbackTM Credit Card to receive $10 back each time as a statement credit. Not available in conjunction with other offers or via third party billers. One BINGE Basic subscription per month per American Express CashbackTM Credit Card Primary account holder.

Referral Links

Business Explorer Card: random (1)

Referrer: 40,000 Reward Points

Centurion Personal Charge Card: random (7)

Referee gets 200,000 MR points. Referrer gets 150,000 MR points.

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closed Comments

  • kerfuffle on 23/04/2021 - 11:03
    +2

    Some discussion about it here

    • b3au on 23/04/2021 - 11:09

      Thanks, I only searched deals, not the forums.

      If you're after cold hard cash (as opposed to points), I'd argue the Cashback card is a better deal than the No Annual Fee cards for a new card member - eg, the $200 cashback more than offsets the $120/year fee.

      Then you also have the 1% cashback on all purchases, 1.5% on Shop Small (up to $200), and free Binge standard (if you were already paying for Binge anyway)

      Plus Amex offers….

  • arctan on 23/04/2021 - 11:05

    Does this cash back card get all the amex deals too?

    • b3au on 23/04/2021 - 11:06

      Yes, Amex Offers is listed on the page .

      Amex Offers
      Whether it's shopping, dining, travel or entertainment there's an Amex Offer with your name on it.
      From credits on your Account, our eligible Card Members are offered opportunities to be rewarded in many ways, just by using their Card.
      As a Card Member, you will receive exciting offers from brands like David Jones, Country Road, Ampol, Lululemon, La Mer, Kogan, Luxury Escapes and Liquorland, to name a few.

  • hamza23 on 23/04/2021 - 11:06
    +8

    I think I'd prefer to keep using the 2% Cashback at HSBC Debit Card with no fee, combined with the no annual fee AmEx cards to access the statement offers (Qantas Discovery/Velocity Escape Cards).

    • wutang01 on 23/04/2021 - 12:11

      I agree (I have the same debit card), but I'm wondering if this is a good idea for anything over $100 e.g. my upcoming Apple purchases this evening

  • noodlefan on 23/04/2021 - 11:25
    +1

    We need Apple card

  • lanceteer on 23/04/2021 - 13:07
    +10

    Think about it this way: you need to spend $1,000 a month just to break even with this Cashback card's monthly fee of $10. Anything above is then 1% cashback.

    With the Amex Essential (no annual fee), you get 1.25 points per dollar spent, and 1000 points can be redeemed for a $5 statement credit. That's 0.625% cashback starting from $0 expenditure.

    The crossover point when the Cashback card returns more than the Essential card is when monthly card expenditure exceeds $2,666.

    • b3au on 23/04/2021 - 13:28
      +2

      Hopefully my maths is correct…

      It makes the most sense if you're a 'new' cardholder and are spending in the first few months (as is normal for cashback or bonus points for other card anyway) - the $200 new member cashback covers a year ($120), plus $80 'profit'.

      The maximum $4000 spend in 3 months, gives you $200 5% cashback, plus $40 1% cashback, and we'll assume half of that was Shop Small (so $30 - 1.5% of $2000).
      So ~ $270 cashback, less $120 to cover 12 months of fees, leaves you with a 'profit' of $150.

      With the Essential card, $4000 in spend will get you 5000 points - which is a $25 statement credit.

      This example would leave you better off with the Cashback card by $125, and would also mean the monthly fee is covered for the remainder of the year.

      I do agree that it would be harder to break even if you aren't a new card member and won't get the 5% cashback to start though, and I have no plans to swap my Explorer to another card anytime soon.

      • talentmyj on 23/04/2021 - 13:44
        +1

        Great calculation. But I think you should ignore the honey moon period as all the other credit cards do that and they do more then $270 (recently ANZ does about $500?). So it is more about the normal day use and I like @lanceteer 's thought. Not much benefit.

      • lanceteer on 23/04/2021 - 14:04
        +1

        Ah yes, I forgot to mention that my calculations are meant for those who want a long term card, and so I've ignored the bonus benefit period.

    • hughes on 06/06/2021 - 23:41

      If you normally pay for BINGE then the sub fee cancels out the monthly fee. Kinda like travel credit and annual fee on other cards. HSBC only works on contactless transactions. If bills can be paid without amex surcharge then this card could be worth it.

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