Do any Aussie CC's earn "cash back" rather than FF points?

[vetrade]

This excerpt from an article with The Points Guy on Reuters about FF points got my attention:

"Always do the math. If you’re not getting at least 1–2 cents per mile in value you should really just think about getting a cash-back card. The Citi Double Cash and Fidelity Amex both give about 2 percent back. Why earn one airline mile that’s worth one cent when you could get 2 cents back in cash, which you could use toward anything?"

I couldn't think of any Aussie cards which give "cash back". Do we have any here?

 

[DeKa]

The Coles Rewards Mastercards are probably the closest - you earn 2 Flybuys Points per dollar which convert to 1c at Coles (in 2000 point / $10 increments)
https://financialservices.coles.com.au/credit-cards/rewards-mastercard

An alternative is ING Direct where you get 2% cashback on all PayWave transactions <$100

 

[davel]

In addition to ING - Citibank have 3% cashback but I think that expires August 2015. ING is great as it's an ongoing 2% cashback.

MEbank have 5% cashback for the first 6 months, which is hard to beat with the value of FF points. I've already exhausted my 6 months so I'm back to earning FF points. They occasionally do a signup promotion where (in the past) you can receive up to $100 cash credited to your account for a referral and referree.

I should add that these cards I'm referring to are debit cards and not credit cards

 

[JohnK]

Amex allow you to pay outstanding credit card balance with Membership Rewards points but I have not check the conversion.

 

[PLANT]

CBA just released pay wave card cash back

 

[DeKa]

CBA just released pay wave card cash back

Sort of ... it's a 3 month promo, capped at $50 a month: https://www.commbank.com.au/personal/credit-cards/get5.html?intcmp=cchpget53107
It's worth considering if you're getting a CBA credit card anyway, but one of the other long term offers like ME Bank's debit card for six months, followed by ING is probably better, financially.

 

[andye]

Amex allow you to pay outstanding credit card balance with Membership Rewards points but I have not check the conversion.

Pretty ghastly conversion: $7/1K rising to the heady heights of $8.05/1K when a reatiler has a promo

 

[davel]

Sort of ... it's a 3 month promo, capped at $50 a month: https://www.commbank.com.au/personal/credit-cards/get5.html?intcmp=cchpget53107
It's worth considering if you're getting a CBA credit card anyway, but one of the other long term offers like ME Bank's debit card for six months, followed by ING is probably better, financially.

Is this 5% cashback in addition to reward points? That's a pretty good combination if so, though 3 months and a $50 limit per month isn't enough for me to consider...

 

[BillytheFIsh]

I've looked into it briefly and decided it's not really viable compared to the value I get out of FF points, except if you put a lot through paywave and are prepared to jump from promo to promo from ING etc.

For an example of a consistent offer - with ANZ rewards you can redeem 25,000 pts for a $100 credit.

The Black card gets 2 pts on Visa and 3 pts on Amex per dollar, so = 0.8c per $ back on Visa and 1.2c per $ back on Amex.

And remember you would need to spend ~$40,000 just to get the $375 annual fee back.

 

[Reise]

In choosing credit cards the often overlooked component is the interest free period. Depending on how you use your card this can be more important than the interest rate or points scheme associated with the card. It's probably the offering about the Coles MasterCard (55 days) that makes it an attractive option for me relative to many of the mainstream Visa and Amex offerings. To explain, assume you pay off your credit card every statement then defering paying off $1,000 by a fortnight could be worth another 1/2 cent on the dollar in. Also, although you get 2 FlyBuys points per $1 spend you also get bonus points on fresh produce etc. if you are linked to Medibank Private.

BUT .... and this is the important thing .... if you DON'T pay it off every month then think about it carefully as there are cards out there with substantially more attractive interest rates. Also you don't get travel insurance and the last time I looked the foreign conversion charges were pretty grim for this card.

 

[exceladdict]

In choosing credit cards the often overlooked component is the interest free period. Depending on how you use your card this can be more important than the interest rate or points scheme associated with the card.

+1. I started on 55 day cards and was rudely shocked when I opened a westpac earth, and a subsequent amex.