American Express Cashback Credit Card

[Mattg]

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.

The American Express Cashback Credit Card | Amex Australia

The CashbackTM Credit Card offers benefits to suit your lifestyle. Learn about cashback and how it works with our comprehensive guide. Discover the benefits and how to earn yourself cash on all eligible purchases.

www.americanexpress.com

 

[Dr Ralph]

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

 

[Mattg]

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

Yes. It says so on their website.

 

[risaka]

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.

 

[Supersonic Swinger]

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...

 

[daft009]

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.

But the AMEX seems uncapped at 1%