CashBack Credit Card in NZ – Discover the Best CashBack Credit Card in NZ

We’ve compiled a list of Cashback credit cards in New Zealand to help you find the best cashback credit card in NZ to meet your needs. Cashback credit cards are credit cards that offer cash back as a reward for using your credit card for purchases. Use the cash back credit card comparison table below to find the best cash rewards credit card to suit your need. Compare New Zealand cashback credit cards below.

Note: the list below also includes credit cards that allow you to redeem your reward points for statement credit (cash back).

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Updated: 6 Jul, 2025

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Card	Description	Purchase Rate (p.a.)	Balance Transfer	Cash Rate (p.a.)	Annual Fee	Interest Free Days
TSB Platinum Mastercard Credit Card Gold Award (Personal)	Earn $1 cashback on every $100 spent on eligible purchases. Plus a range of insurance. Reward Points Cash Equivalent: $100 spend earns $1.00 cash equivalent^.	20.95%	N/A	22.95%	$90.00	55 days More Info » Apply Now »
ANZ CashBack Platinum Credit Card Gold Award (Personal)	The ANZ Cash back Platinum card allows you to earn $1 cash back for every $120 spent on eligible purchases. Reward Points Cash Equivalent: $100 spend earns $0.83 cash equivalent^.	20.95%	N/A	20.95%	$80.00	55 days More Info » Apply Now »
ANZ CashBack Visa Credit Card Gold Award (Personal)	You get $1 cash back for every $150 spent on eligible purchases. Reward Points Cash Equivalent: $100 spend earns $0.66 cash equivalent^.	20.95%	N/A	20.95%	$40.00	55 days More Info » Apply Now »
The American Express Gold Rewards Credit Card Platinum Award (Personal)	Amex's FASTEST earn rate credit card in NZ. Get 2 points per $1 spent with this award-winning Membership Rewards programme. CURRENT OFFER: Get $200 back* (Statement Credit). *Apply online, be approved and spend $1,500 on your new Card within the first 3 months. New Card Members only. T&Cs apply. Reward Points Cash Equivalent: $100 spend earns $1.25 cash equivalent^.	22.95% p.a.	N/A	22.95% p.a.	$200.00	55 days More Info » Apply Now » No documents required to apply¹
BNZ Advantage Visa Platinum Credit Card Gold Award (Personal)	Spend $1 and get 1.67 BNZ Points. The BNZ Advantage Platinum Visa Card also comes with a 90 days platinum International Leisure Travel Insurance and Domestic rental and vehicle excess insurance. Reward Points Cash Equivalent: $100 spend earns $1.11 cash equivalent^.	18.95%	N/A	18.95%	$90.00	55 days More Info » Apply Now »
SBS Pink Ribbon Visa Credit Card Platinum Award (Personal)	This card is no longer available. A reward credit card that also helps fight breast cancer. SBS Bank will donate $20 to Breast Cancer Foundation NZ for every account opened successfully. Every time you use your card SBS Bank will donate 5 cents to Breast Cancer Foundation NZ. Earn $1 for every $150 spent on Eligible Transactions.	19.95% p.a.	N/A	22.95% p.a.	$55.00	55 days More Info » Apply Now »
Countdown Onecard Visa Credit Card Gold Award (Personal)	This card has been suspended and no applications are being accepted. Every $1,000 you spend at Countdown earns you $90. Earn 2x Onecard points and AA Smartfuel discounts at Countdown with the Onecard Visa card. Additionally, earn Onecard points wherever Visa is accepted.	19.99%	N/A	22.99%	$65.00	55 days More Info » Apply Now »
BNZ Advantage Classic Visa Credit Card Gold Award (Personal)	Earn 1 BNZ Point for every $1 you spend on eligible purchases. Reward Points Cash Equivalent: $100 spend earns $0.67 cash equivalent^.	20.95%	N/A	22.95%	$40.00	55 days More Info » Apply Now »
ANZ Visa Business CashBack credit card Gold Award (Business)	The ANZ Visa Business CashBack credit card is a rewards business credit card that offers $1 cash back for every $90 spent on eligible purchases using the ANZ Visa Business CashBack credit card. It charges $95.00 annual fee and has a purchase rate of 20.95%.	20.95%	N/A	20.95%	$95.00	55 days More Info » Apply Now »

^ To help you compare reward points across different credit cards and rewards programs, we provide an estimate of the cash-equivalent of the reward points that you will get back for every $100 you spend on eligible purchases with your card. The cash equivalent value given is an estimate only based on a specific redemption example. In some cases you might earn less or more depending on how you redeem your ponts and some reward points cannot be redeemed for cash directly. Click on the card to find out how the estimate was calculated.

What is a Cash Back Credit Card?

A Cash back credit cards is a type of rewards credit card which offers a percentage of your purchases back as cash back to you. For example, if your cashback credit card offers 0.5% cash back, you’ll earn 50 cents for every $100 you spend. You can withdraw your cashback and use it as you please.

Types of Cash Back Credit Cards in New Zealand

There are several types of credit cards with cash back options:

Flat-Rate Cash Back Cards:

These types of cards offer a fixed percentage back on all purchases.

Tiered Cash Back Cards:

These types of cards provide different percentages based on the type of purchase, such as groceries or fuel.

Rotating Category Cash Back Cards:

These type of cards offer higher cash back percentages in categories that change quarterly.

Pros and Cons of Cash Back Credit Cards

Cash back credit cards come with their own set of advantages and disadvantages:

Pros:

Cash backs are generally easier to understand and use.
Direct financial benefit through cash backs.
Flexibility to redeem your rewards as you see fit.

Cons:

Some Cash back charge annual fees.
Interest charges may outweigh the benefits if you carry a balance.

Some Cash back rewards may expire if not used within a fixed timeframe.

What is the best cashback credit card in NZ

The best cashback credit card in New Zealand in terms of the earn rate is the American Express Gold Rewards Credit Card which earns you $1.25 cash back in statement credit for every $100 spend.

How can I redeem my Credit Cards Cash Back?

Statement Credits

One of the most straight forward way to use your cash back rewards is as statement credit. This method allows you to reduce your credit card bill directly. But keep in mind that you cannot apply cash-back rewards toward the minimum amount due.

Direct Deposits

Of course you can redeem your cash back using direct deposit into your eligible bank account. To enable a seemless transfer link your bank account to your credit card.

Gift Cards and Merchandise

Some Cash Back credit cards offer the option to redeem your rewards for gift cards or merchandise. It’s important to compare the value of these gift cards and merchandise to other redemption methods to make sure you are getting the best value for your money because sometimes, gift cards and merchandise may offer less value than direct cash options.

How to take Advantage of your Cash Back Rewards Credit Card

Tips for Earning More Cash Back

To get the most out of your cash back credit card, you need to be strategic. Here are some tips to help you earn more:

Use Your Cash Back Credit Card for Everyday Purchases: Make sure to use your cash back card for regular expenses like groceries, fuel, and dining out.
Pay Off Your Balance Monthly: Avoid interest charges by paying off your balance in full each month.
Take Advantage of Sign-Up Bonuses: Many cards offer generous sign-up bonuses. Make sure to meet the spending requirements to earn these bonuses.
Monitor Special Promotions: Keep an eye out for special promotions that offer extra cash back on certain categories or during specific periods.

Using Bonus Categories Effectively

Many cash back cards offer higher rewards for specific spending categories. To maximise your rewards:

Identify Bonus Categories: Know which categories offer higher cash back rates, such as groceries, fuel, or dining.
Plan Your Spending: Try to align your spending with these bonus categories. For example, if your card offers extra cash back on groceries, do your shopping with that card.
Rotate Cards: If you have multiple cash back cards, use the one that offers the best rewards for each purchase category.

Combining Cash Back with Other Rewards

You can often combine cash back rewards with other types of rewards to maximise your benefits:

Loyalty Programmes: Use your cash back card in conjunction with store loyalty programmes to earn both cash back and loyalty points.
Stacking Offers: Look for opportunities to stack cash back with other offers, such as discounts or promotional deals.
Redeem Wisely: Some cards allow you to redeem cash back for travel, gift cards, or other rewards. Choose the redemption option that offers the best value for you.

Common Cash Back Credit Cards Pitfalls

Interest Charges

One of the biggest pitfalls of cashback credit cards compared to other NZ credit cards is the high interest rate charges that tend to come with Cash back credit cards. If you plan to carry a balance on your credit card, the interest you pay can easily outweigh any cash back you earn from your credit card.

Annual Fees

Most cash back credit cards come with an annual fee. While these fees can sometimes be justified by the cash back rewards and perks offered, this might not always be the case. Make sure the rewards you earn exceed the cost of the annual fee.

Expiration of Rewards

Cash back rewards can sometimes expire if not redeemed within a certain timeframe. Be sure to check the terms and conditions of your credit card to understand the expiration policy. The best cash reward credit card for you would need to take into account how you plan to spend the cash back.

Comparing Cash Back Credit Cards with Other Reward Cards

Rewards Credit Cards

Credit cards with cashback are a type of rewards credit card that offers cash back as reward instead of reward points. Many rewards credit cards that offer reward points allow you to redeem your points for cash backs (statement credit), flights, gift cards, products and more, but there are some rewards credit cards that do not allow you to redeem your points for statement credit (cash back). Some credit cards that offer reward points may offer better earn rates in cash equivalent points that those offering Cash back. To make it easier to undersand and compare we detail for each reward credit card on our site the “Reward Points Cash Equivalent” to give you an idea of how much you would be getting back in rewards regardless of the rewards program or reward type i.e. cash or points. Our goal is simply to help you choose the best cashback credit card or best rewards credit card to meet your needs.

Frequent Flyer Credit Cards

When choosing between cash back and frequent flyer credit cards, consider your lifestyle. Cash back is straightforward and can be used for anything, while frequent flyer credit card points tend to be redeemed for travel but not always – infact many Frequent Flyer programs allow you to redeem your points for gift card from big name retailers. Frequent flyer credit cards can also offer more value per dollar spent, but their benefits are tailored to frequent flyers. If you don’t mind redeeming your points for gift cards from big retailers like bunnings or New World then frequent flyer credit cards can be an alternative option.

Store Credit Cards

Credit cards with cash back give you money back on your purchases, which you can spend anywhere. On the other hand, store credit cards offer points or discounts at specific retailers. If you frequently shop at a particular store, a store rewards credit card might be more beneficial. However, cash back cards provide more flexibility.

Which is Best for Your Lifestyle?

To decide which type of card suits you best, think about your spending habits. If you prefer flexibility and simplicity, a cash back card is likely the best choice. If you are loyal to certain brands or travel frequently, a frequent flyer or store rewards card might offer more value. Always consider the rewards structure and how it aligns with your spending patterns to help you choose the best credit cards in NZ that matches your needs.

How to Choose the Best Cash Reward Credit Card

Assess Your Spending Habits

To choose the best cashback credit card, start by looking at your spending habits. Do you spend a lot on groceries, fuel, or dining out? Different cards offer different rewards for various categories. Make a list of your top spending areas to find a card that gives you the most cash back for those purchases.

Read the Fine Print

Always read the terms and conditions before signing up for a credit card. Look for details on interest rates, annual fees, and any restrictions on earning or redeeming cash back. Some cards may have caps on how much cash back you can earn in certain categories or overall.

Consider Long-Term Benefits

Think about the long-term benefits of the card. Some cards offer sign-up bonuses, but they might not be as rewarding in the long run. Consider if the card offers ongoing rewards that match your spending habits and if it has any additional perks like travel insurance or purchase protection.

Consider other cash reward credit cards

Other rewards credit cards that earn points allow you to redeem your points for statement credit which is equivalent to cashback. It is worth considering those credit card types if they offer better earn rates and benefits.

Real-Life Examples of Cash Back Savings

Case Study: Monthly Grocery Savings

Imagine you spend $800 a month on groceries. With a cash back credit card offering 3% cash back on supermarket purchases, you could save $24 each month. Over a year, that’s a tidy $288 back in your pocket, just for buying your weekly groceries.

Case Study: Fuel Cost Reductions

Consider a scenario where you spend $200 a month on fuel. If your cash back card offers 2% cash back on fuel purchases, you would save $4 each month. This adds up to $48 annually, which can be a nice little bonus for something you need to buy anyway.

Case Study: Travel and Dining Rewards

Let’s say you enjoy dining out and travelling, spending around $500 a month on these activities. With a card that gives 5% cash back on travel and dining, you could save $25 each month. Over a year, this amounts to $300, which could help fund your next holiday or a few extra nights out.

Frequently Asked Questions

What is a cash back credit card?

A cash back credit card gives you a percentage of your spending back as cash rewards. You can use these rewards to reduce your credit card bill or get gift cards. Some credit cards with cashback rewards allow you to redeem you rewards points for cash back or other rewards.

What is the best cash rewards credit card in NZ

The best cashback credit card in New Zealand in terms of the earn rate is the American Express Gold Rewards Credit Card which earns you $1.25 cash back in statement credit for every $100 spend.

How do cash back credit cards work in New Zealand?

When you use a cash back credit card, you earn a small percentage of each purchase back as cash. This can be applied as a statement credit or sometimes redeemed for other rewards.

Are there different types of cash back credit cards?

Yes, there are various types of cash back credit cards. Some offer flat-rate cash back on all purchases, while others provide higher cash back rates in specific categories like groceries or fuel.

What are the benefits of using a cash back credit card?

The main benefit is earning cash rewards on your everyday spending. Some cards also offer additional perks like no annual fees or bonus cash back in certain spending categories.

What should I watch out for with cash back credit cards?

Be aware of high interest rates, annual fees, and spending traps. Make sure the cash back rewards outweigh any costs associated with the card.

Can I combine cash back rewards with other types of rewards?

Yes, some cards allow you to combine cash back with other rewards programmes, such as frequent flyer points or store rewards, to maximise your benefits.

Which credit card has the best cash back?

The credit card with the best cash back in New Zealand is the American Express Gold Rewards Credit Card which earns you $1.25 cash back in statement credit for every $100 spend.