Macquarie credit cards

Macquarie
Macquarie's overall rating for credit cards

(as rated by the Mozo community)

5.3 / 10

based on 48 reviews

Want a competitive piece of plastic so you can spend whenever and however you want? We’ve gathered together all the important facts and features of Macquarie credit cards, so you can make an educated decision about whether they’re the right provider for you. So take a look at the range of credit card options on offer and find the one that suits our lifestyle and budget.

Rates and fees verified as correct at 16 November, 2018. Other information correct at the time of writing.

What credit cards do Macquarie offer?

Rewards credit cards Rewards credit cards

If your credit card game is all about racking up the rewards points, then take a look at one of Macquarie’s competitive rewards cards. Earn Macquarie rewards points, which can be redeemed for a range of products, travel tickets and gift cards. These cards come with a pretty high purchase rate and annual fee, so make sure to get the most from the rewards program to make the card worth it. To supersize your rewards earning power, you can upgrade to the platinum version.

Product Points per dollar Purchase rate Balance transfer rate Annual fees

1 point per dollar on Visa, up to $4,000 per month, then
0.5 points per dollar on Visa, uncapped

20.70% p.a.

0% p.a. for 14 months and then 20.70% p.a.

$299 $99 in the first year

1 point per dollar on Visa, up to $1,000 per month, then
0.5 points per dollar on Visa, up to $16,667 per month

20.70% p.a.

0% p.a. for 14 months and then 20.70% p.a.

$249 $99 in the first year


Hide

Prestige cards Prestige cards

Want a little bit of luxury with your credit card? You can opt for the platinum or black version of the Macquarie rewards card, or if you’re not concerned with earning points, check out the great features and freebies available from Macquarie’s other prestige credit cards. Benefits include a range of complimentary insurances, 24/7 concierge service and hotel upgrades. Just keep in mind, all this comes at a cost, and you should prepare yourself for a pretty hefty annual fee and purchase rate.

Product Points per dollar Purchase rate Balance transfer rate Annual fees

1 point per dollar on Visa, up to $4,000 per month, then
0.5 points per dollar on Visa, uncapped

20.70% p.a.

0% p.a. for 14 months and then 20.70% p.a.

$299 $99 in the first year

1 point per dollar on Visa, up to $1,000 per month, then
0.5 points per dollar on Visa, up to $16,667 per month

20.70% p.a.

0% p.a. for 14 months and then 20.70% p.a.

$249 $99 in the first year


Hide

Frequent flyer credit cards Frequent flyer credit cards

Like to travel in style? Macquarie’s premium frequent flyer credit cards will have you in first class all the way. These cards will supersize your earning potential so you can stack up those Qantas frequent flyer miles faster, but keep in mind that with premium perks, comes a premium price tag.

Product Points per dollar Purchase rate Balance transfer rate Annual fees

1 point per dollar on Visa, up to $4,000 per month, then
0.5 points per dollar on Visa, uncapped

20.70% p.a.

0% p.a. for 14 months and then 20.70% p.a.

$299 $99 in the first year

1 point per dollar on Visa, up to $1,000 per month, then
0.5 points per dollar on Visa, up to $16,667 per month

20.70% p.a.

0% p.a. for 14 months and then 20.70% p.a.

$249 $99 in the first year


Hide

**Saving based on the average difference in fees and charges over 3 years between the most competitive product Mozo can refer a consumer to and the average credit card product input by 6,863 consumers (average balance of $4,262 or balance transfer balance of $5,818, interest rate of 19.6% and annual fee of $36.50) who used the Mozo Credit Card Health Check tool between 1 January 2012 to July 2012.

Frequently Asked Questions about Macquarie credit cards

How many interest free days will I get with a Macquarie credit card?

Using your interest free days to their full potential is one of the best ways to keep your credit card costs down. With a Macquarie credit card, you have a period of 55 days to pay off your purchases before you’ll be charged interest on them.

Can I use my Macquarie credit card for a balance transfer?

Yep. All Macquarie credit cards come with a balance transfer period in which you’ll pay exactly zero interest. This can be a great way to manage credit card debts, but remember, this 0% interest rate only counts on the balance you transfer and not on new purchases. Plus, keep in mind that until you pay off the balance you’ve transferred, you won’t get any interest free days.

What fees might I be charged?

Each Macquarie credit card comes with an annual fee, cash advance fees that are calculated as either a dollar amount or a percentage of the transaction, over the counter transaction fees and a foreign exchange fee. Plus, you’ll have to keep an eye on how you use your credit card to avoid all the usual late payment or dishonour fees. Check out our guide on avoiding credit card fees to make sure you’re not paying penalties you don’t have to.

What is the minimum monthly payment I must make on a Macquarie credit card?

Your minimum payment on a Macquarie credit card will usually be whichever is highest between $50 or 2.5% of your balance (2% if you opt for the low rate credit card option). If your balance is less than $50, you’ll usually have to pay the whole lot as a minimum.
Although this is the minimum you’ll need to pay, it’s always a good idea to pay off as much of your credit card balance as you possibly can, as part of a strategy to manage your credit card balance.

Can I use paypass or paywave with my Macquarie credit card?

Macquarie credit cards all work on the VISA network, which means you can use payWave for easy, quick payments on purchases under $100. 

Can I use my Macquarie credit card while I’m travelling overseas?

Of course! Because they work on the VISA network, you can use any Macquarie credit card all around the world, wherever VISA is accepted. That’s pretty handy, and if you’ve got a prestige Macquarie credit card, you’ll also get the added bonus of complimentary travel insurance for your trip. But don’t forget to keep an eye on those foreign transaction fees, not to mention the exchange rates. If you want to travel without those pesky worries, check out a prepaid travel card before you head off.

What kind of insurance options does my Macquarie credit card offer?

If you’ve got a prestige Macquarie credit card, you’ll have access to a host of complimentary insurance options to protect you while you spend all your hard earned cash, including overseas travel insurance, as mentioned above. Other insurances include:

Interstate flight inconvenience insurance

Transport accident insurance

Purchase security insurance

Extended warranty insurance

What rewards options do I have with my Macquarie rewards credit card?

Are you a traveller, or a shopper?

When you opt for a Macquarie rewards card, that’s the question you’ll have to ask yourself, so you can decide between a Qantas card or a Macquarie rewards card. To help you decide, here’s a breakdown of each.

Qantas

If you’re a traveller, funnel all your spending into building up frequent flyer points with a Macquarie Qantas card. You’ll earn 1 point for every $1 you spend, or, 2 points for every $1 you spend on Qantas products, like flights.

Platinum cards are capped, but if you’ve got a flashy black card, you can earn unlimited points.

Macquarie rewards

If you’d prefer to hit the shops with all your rewards points in your back pocket, then opt for a Macquarie rewards card, so you can redeem it for a range of retail products, gift vouchers and even event tickets. A platinum credit card will earn you 1.25 points for every $1 you spend, while  black card will bump that up to 2 points.

Like with Qantas cards, Macquarie rewards points are uncapped for black cardholders, but capped for those flashing platinum plastic.

Considering the hefty annual fees that can come with a rewards card, you should take a minute to read our guide on calculating rewards points to be sure you’re getting the most out of your rewards cards.

How are Macquarie credit cards rated?

Mozo users have rated Macquarie credit cards on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Macquarie credit cards

Overall 5.3

Price

Features

Customer service

Convenience

Trust

47 Reviews

Recent Macquarie credit card reviews Recent Macquarie credit card reviews

Macquarie

Macquarie Black Card (Qantas Frequent Flyer) credit card review

Overall rating   9 / 10

Excellent service across the board

Innovative and proactive. Excellent service across the board

Full review

Innovative and proactive. Excellent service across the board

    Price   9 / 10

    Features   8 / 10

    Customer service   10 / 10

    Convenience   1 / 10

    Trust   10 / 10

Less

Anthony, Western Australia, reviewed 10 months ago

Macquarie

Macquarie credit card review

Overall rating   4 / 10

Confusing & unpredictable

Applied for C/C, after a month, got mail of application knocked back, even when I have $200k income. Then out of the blue, got email message my credit card is coming! Not sure can trust a crowd like this.

Full review

Applied for C/C, after a month, got mail of application knocked back, even when I have $200k income. Then out of the blue, got email message my credit card is coming! Not sure can trust a crowd like this.

    Price   5 / 10

    Features   7 / 10

    Customer service   3 / 10

    Convenience   5 / 10

    Trust   3 / 10

Less

Ted, Western Australia, reviewed almost 3 years ago

Macquarie

Macquarie Platinum Card (Qantas Frequent Flyer) credit card review

Overall rating   7 / 10

Great customer service

Only been with Macquarie for 6 months, so still 'testing the waters'.

Full review

Only been with Macquarie for 6 months, so still 'testing the waters'.

    Price   8 / 10

    Features   6 / 10

    Customer service   7 / 10

    Convenience   7 / 10

    Trust   7 / 10

Less

Katie, Victoria, reviewed about 3 years ago

Macquarie

Macquarie credit card review

Overall rating   8 / 10

Great rewards programme

I have my mortgage with them and got a credit card, they offer great rewards programme for every point you get, point accumulate and you can get vouchers from the top high street stores like Myers, David jones, job hi fi, Priceline etc. I'm very...

Full review

I have my mortgage with them and got a credit card, they offer great rewards programme for every point you get, point accumulate and you can get vouchers from the top high street stores like Myers, David jones, job hi fi, Priceline etc. I'm very happy with them.

    Price   6 / 10

    Features   8 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   8 / 10

Less

Christine, Western Australia, reviewed over 3 years ago

Macquarie

Macquarie credit card review

Overall rating   6 / 10

Good service but high fees

High fees and interest rate. Only one reward. Service is good.

Full review

High fees and interest rate. Only one reward. Service is good.

    Price   6 / 10

    Features   6 / 10

    Customer service   5 / 10

    Convenience   3 / 10

    Trust   6 / 10

Less

Neil, New South Wales, reviewed over 3 years ago

Hide reviews

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

What do you need to apply for a Macquarie credit card? What do you need to apply for a Macquarie credit card?

To apply for a Macquarie credit card, there are a few criteria you’ll have to meet before doing anything else. These are:

  • That you are over 18 years old
  • You are a permanent resident of Australia
  • You have a good credit rating
  • For prestige cards, there may be minimum income requirements of as much as $70,000 p.a.

If you fit all those criteria, you can apply for a Macquarie credit card, at which point you’ll need to provide some documentation, including:

  • Proof of your annual salary
  • Proof of monthly expenses (this can be in the form of a bank statement)
  • Contact details of your current employer
  • Contact details of your accountant if you are self-employed
  • Your Australian driver’s license number (if you don’t have a license, you’ll have to provide other identification, for example, a passport).
Hide

More helpful credit card quick links