Does anyone know of any credit cards with a percentage cash back (eg 2%) on transactions? I only know of the HSBC debit card but not of any credit cards.
It’s quite common in the US but not so much here.
Credit Card with Cashback on Transactions
illusion99 on 28/03/2023 - 09:25
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The Amex cashback car has been discontinued
That didn't last long!
You can use the points from Amex to repay the card itself.
ANZ has 'Cashrewards', which can be used with a credit (or debit) card
https://www.anz.com.au/promo/personal/cashrewards/?pid=glo-i…Though Cashrewards Max is discontinued, so not quite sure what ANZ exclusive benefits are there anymore. Anyone?
Cashrewards takes a long time to give your cashback. It's better with HSBC which is instant for transactions under $100
Cashback offers went out of fashion once interchange fees were capped. Lower interchange fees means less money for the credit card provider to offer generous benefits. Interchange fees are capped at 0.8% in Australia whereas there is no cap in the US.
Yes this. Gone are the days of the generous ING cashback CCs, the CBA's (measly) 2% cashback promo is just about to end, and as far as I know there is nothing else on the table in Australia at all. The best you can do in this space now is 'points' hacks (QFF points, etc.); but these can end up being a lot more hassle than they are worth time-investment-wise. They generally return a maximum effective rebate of 1% of the purchase price/price paid.
If you have a standard/documented full-time job and no credit defaults recorded against you, you can acquire a remarkable amount of QFF points within a few months by successfully applying for a bunch of new credit cards and fulfilling their spending requirements (by paying your bills, relative's bills, etc.). Just remember to cancel them all before the first year is up, so that you don't get charged any annual fees.
The only credit card I can think of that has ongoing cashback is ING (1% cashback).
I could have sworn there was an AMEX cashback credit card in Australia, and although I can find third-party articles about it and I remember once seeing a page on the AMEX website about it, I cannot find it anymore.
There are the one-off cashback offers for signing up to a new credit card and meeting the minimum spend criteria (e.g. this current Citibank offer), but I don’t think that is what you are looking for.