Best Cashback Credit Cards in Australia 2026
Compare the best cashback credit cards in Australia for 2026. ANZ $400, Westpac $250, NAB zero-interest, and more — rates, fees, and fine print.
Cashback credit cards in Australia let you earn real money back on everyday spending. But the fine print matters — annual fees, caps, and minimum spends can wipe out your gains. Here are the cards actually worth getting in 2026.
Top Cashback Cards Compared
| Card | Cashback Rate | Annual Fee | Highlight |
|---|---|---|---|
| ANZ Low Rate — Cashback Offer | $400 cashback | $0 first year (then $58) | Spend $5,000 in 6 months, get $400 |
| NAB StraightUp Card | No interest, no fees | $0 | 0% interest always, $1,000–$3,000 limit |
| Westpac Low Rate | $250 cashback | $0 first year (then $59) | Spend $2,000 in 90 days |
| Latitude 28° Global Platinum | Up to $240/yr in rewards | $0 first year (then $96) | $0 international transaction fees |
| Coles Rewards Mastercard | 2x flybuys at Coles | $0 | Best for Coles shoppers |
1. ANZ Low Rate — $400 Cashback
The ANZ Low Rate card is currently offering $400 cashback when you spend $5,000 on eligible purchases within the first 6 months. The annual fee is waived in year one ($58 thereafter), and the ongoing rate of 13.74% p.a. is one of the lowest purchase rates available.
Worth it if: You have planned spending of $5k+ in the next 6 months (think bills, groceries, insurance). The $400 cashback effectively pays you to spend what you'd spend anyway.
2. NAB StraightUp Card — Zero Interest, Zero Fees
Not technically a cashback card, but it deserves a mention. The NAB StraightUp charges 0% interest, $0 annual fee, and no late fees. The trade-off is a low credit limit ($1,000–$3,000) and no rewards. But if you want a simple card that never charges you interest, this is it.
3. Westpac Low Rate — $250 Cashback
Westpac's offer is simpler: spend $2,000 in the first 90 days and get $250 cashback. Lower threshold than ANZ, lower reward. Annual fee waived year one. Good if you want a quick win without committing to $5k in spending.
4. Latitude 28° Global Platinum
The standout feature is $0 international transaction fees — rare for Australian cards. You also earn Latitude Rewards points worth up to $240/year. Best for frequent travellers or anyone buying from overseas retailers.
5. Coles Rewards Mastercard
If you shop at Coles weekly, the maths works: 2x flybuys points on Coles spend ($0 annual fee) adds up. A family spending $200/week at Coles earns ~$100/year in flybuys value. Not huge, but it's free money for something you're already doing.
Cashback vs Rewards Points: Which Is Better?
Cashback wins for simplicity. You know exactly what you're getting. Rewards points require calculation, and their value fluctuates. Unless you're a frequent flyer chasing Qantas points, cashback is almost always the better deal for everyday Australians.
Watch Out For
- Minimum spend traps: Don't spend more than you normally would just to hit a cashback threshold
- Year 2 annual fees: Most fee-waived cards charge $50-$100 from year 2 — cancel before then if the card isn't worth it
- Interest charges: If you carry a balance, interest will dwarf any cashback. Always pay in full.
Our Pick: ANZ Low Rate ($400 Cashback)
$400 for spending $5k you were going to spend anyway. Cancel after year one to avoid the $58 fee. Best pure-cashback deal available right now.