American Express Cashback Credit Card

Mattg

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Amex has launched a "cashback" credit card in Australia where you earn cashback on all purchases rather than earning points. The annual fee is $120 (charged as a $10 monthly fee) and you get 1% cashback on all purchases excluding government transactions which give 0.5% cashback.

Based on my calculations, you'd need to spend more than $1,000/month to earn back your monthly fee as cashback.

As a bonus offer for new cardholders you can also get 5% cashback for the first 3 months, up to $200 and you can get bonus cashback (1.5%) via Shop Small. Also comes with a monthly BINGE subscription.

Seems to be aimed at younger folks. Minimum income requirement is $40k.

Personally I'll stick to credit cards that earn points, but I guess it's good to have more options out there.

 

Dr Ralph

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I assume as an AMEX card you'd still get the usaly cash back offers?
 
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Supersonic Swinger

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Not a good value IMO. For those who want cashback they should look at 2% cashback (up to $50per month) with HSBC Everyday Global Account with no fees.
Yep, the 2% HSBC cashback applies to all tap, Apple Pay and Google Pay of $100 or less. You spend up to $2,500 a month to reach the $50 per month limit.

This Amex doesn't really compare unless you need the credit facility attached to your Binge subscription...
 
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