Cashback Credit Card card image
Mini meca 2021

American Express Cashback Credit Card

Advertiser disclosure
Purchase rate
20.74% p.a.
Balance transfer rate
No current offer
Annual fees
$120 $0 in the first year
Interest free days on purchases
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Mozo editorial review American Express Cashback Credit Card - last updated: 2 November 2021

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What's hot
  • Up to 6% cashback on eligible purchases in the first three months (conditions apply)
  • No monthly fee for the first 12 months
  • Complimentary perks and insurances
What's not
  • $10 monthly fee
Mozo snapshot

With the American Express Cashback, new card members can get 5% Bonus Cashback in the first 3 months, up to $200, when they apply online and are approved. What's more, no monthly fee will be charged for your first 12 months of Card Membership. There are also a number of perks that come with the card, including complimentary subscriptions and insurances.

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Key features

The American Express Cashback credit card gives customers the ability to earn cashback in a variety of ways (conditions apply). You could earn: 

  • 1% cashback per $1 spent on eligible purchases (excluding Australian government bodies, where you'll earn 0.5% cashback per $1 spent). 

  • An additional 5% cashback for new card members in the first three months (up to $200) when they apply online are approved.

  • A bonus 1.5% cashback when you spend in-store or online at a participating Shop Small business (up to $200 cashback).

Along with the opportunity to earn cashback on your purchases, American Express also offers up some great perks, including: 

  • BINGE Basic subscription (valued at $10 per month) 

  • Complimentary 12-month access to Centr fitness app (valued at $119.99 in total - offer ends 14 February 2022) 

  • Complimentary Smartphone Screen Insurance (up to $500 per repair with 10% excess) 

  • Refund Protection and Purchase Protection 

  • Complimentary American Express Entertainment Lounge Access (either Sydney or Brisbane) 

  • Up to 55 interest free days. 

When paying back your credit card balance, there is also the option to sign up to American Express Plan It Instalments. Like buy now pay later, you pay off your balance in monthly instalments with a 0% p.a. interest rate, paying just a monthly fee. This feature is not automatically set up on this card so you'll have to contact American Express to sign up.

Who is it good for

This card is an ideal option for someone that wants cashback for their spending and wants to enjoy a whole range of bonus extras at the same time. Instead of having to deal with points, customers receive funds back into their account - simple!

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Any catches

While there is no annual fee attached to this card, there is a monthly charge of $10 per month which could really add up over time. Plus, to be eligible you must be over 18, an Australian citizen or permanent resident, have an annual income of over $40,000 and have no history of bad debt.

Rewards program details

Rates and fees information correct as at 21 January 2022. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
What your points get you

Fly Sydney to London return


Fly Sydney to Melbourne one-way


$100 Giftcard


$100 Cash

10,000 points

Points earning

1 point per dollar on Amex, uncapped

Rewards scheme

Earn 1% cashback on your spend (excluding government bodies purchases). (This may be referred to as 1 point per dollar on Mozo.) 0.5% cashback on purchases at government bodies in Australia.

5% Bonus Cashback for the first three months capped at $200 Cashback when you apply online and are approved. Shop Small bonus 1.5% Cashback up to $200 back available for participating businesses. New Card Members only.

Value of rewards points

Spend $10,000 (AmEx)



How do we calculate these points?
How do we calculate the rewards?

To work out the "Rewards value minus fees" in our Rewards Revealer we:

  • calculate how many points you'd get each year,

  • figure out how many flights or gift cards or cashback credits you could get for those points,

  • work out what that's actually worth to you,

  • take off the annual fee you'd pay.

More details:

  • Our calculations are designed to help you compare the value of different rewards schemes. To do this, we've looked at earning a one-way Sydney-Melbourne flight excluding taxes and charges, a return Sydney-London flight excluding taxes and charges, a $100 shopping Gift Card and $100 cashback. Most cards will also offer other rewards, which may be worth more or less than the ones we've shown.

  • We have made no allowance for bonus points for using your card at specific merchants, introductory offers or special offers. We have not assigned any value to instant discounts, insurances, ticketing and concierge services or other such benefits.

  • Rewards value calculations do not take credit card interest into account. If you do not pay off your card each month you may be better off looking for a card based on interest rates than on the value of rewards.

  • In products that have more than one card, a different mix of spend between American Express / Visa / Mastercard will give different results. Mozo's Rewards Revealer lets you choose the mix based on the way you would use such a product, and gives you tailored results.

  • We assume flights purchased with airline points are 'classic' or 'reward' economy seats with restricted seat availability. 'Any seat' rewards will probably cost more.

  • To compare the value of flight rewards, we sample online retail flight prices once a quarter based on the average price on a Wednesday 3 months in advance but outside NSW school holidays. For domestic flights we take the lowest available fare from each flight on that day from Qantas Red e-deal, Virgin Australia Saver including baggage and Jetstar Starter including baggage. We calculate the average price excluding taxes and surcharges for each airline, and also the average across all airlines (which we use when rewards are travel agent vouchers). For international flights, we take the lowest available fares on that same Wednesday from each of Qantas, Emirates, Malaysian, Etihad, Singapore, Cathay Pacific and Thai, assuming a return flight 2 weeks later, calculate the average price before taxes and surcharges and use this as our assumed cost of a flight on any airline.

  • Shopping rewards are based on $100 gift cards from a major national department store.

  • We make every effort to ensure our calculations are correct and up to date but make no guarantees.


Rate and fee details


20.74% p.a.


No current offer






$0 in the first year












up to 4


Payment options

Apple Pay, Google Pay, Samsung Pay

Other benefits

Cover for smartphone screen repairs up to $500 each year when you pay for your phone outright or monthly bill with the Card, conditions apply.12 month complimentary subscription to Centr, offer ends 14 February 2022. BINGE Basic subscription $10 per month back when paid for with the Card.

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