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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.
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.