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 29 September, 2020. Other information correct at the time of writing.
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 | 20.70% p.a. | 0% p.a. for 14 months and then 20.70% p.a. | $149 | |
| 1 point per dollar on Visa, up to $1,000 per month, then | 20.70% p.a. | 0% p.a. for 14 months and then 20.70% p.a. | $99 |
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 | 20.70% p.a. | 0% p.a. for 14 months and then 20.70% p.a. | $149 | |
| 1 point per dollar on Visa, up to $1,000 per month, then | 20.70% p.a. | 0% p.a. for 14 months and then 20.70% p.a. | $99 |
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 | 20.70% p.a. | 0% p.a. for 14 months and then 20.70% p.a. | $149 | |
| 1 point per dollar on Visa, up to $1,000 per month, then | 20.70% p.a. | 0% p.a. for 14 months and then 20.70% p.a. | $99 |
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.
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.
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.
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.
Macquarie credit cards all work on the VISA network, which means you can use payWave for easy, quick payments on purchases under $100.
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.
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
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.
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.
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.
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.
Comes with rewards and complimentary insurance for travel and extended warranty, etc. Everything that is charged to my credit card I get a little notification which is great. Direct debit is a bit of a hit and miss as it takes 3 days to clear...
Comes with rewards and complimentary insurance for travel and extended warranty, etc. Everything that is charged to my credit card I get a little notification which is great. Direct debit is a bit of a hit and miss as it takes 3 days to clear however if you transferred payment yourself, funds are available almost instantly.
Angie, Queensland, reviewed 4 months ago
Worst card ever. Yes the rewards and no international fees are great, but it stops there. Cannot future date bpay, cannot link with other accounts so I need multiple cards. If you miss a payment, even by a day, they smash you with interest for 3...
Worst card ever. Yes the rewards and no international fees are great, but it stops there. Cannot future date bpay, cannot link with other accounts so I need multiple cards. If you miss a payment, even by a day, they smash you with interest for 3 months, even if you have fully paid the card. No other provider I have seen does that. Usually you pay it off and the interest stops. Their call centre is open, but every time I ask for something I get “that dept is closed, call m-f 9-5”. Not worth the points.
Kel, New South Wales, reviewed 6 months ago
The most greedy of them all. That's how they can pay their CEO over $20M a year.
The most greedy of them all. That's how they can pay their CEO over $20M a year.
Dean, Tasmania, reviewed 8 months ago
Happy with my card, however wish they offered Qantas points.
Happy with my card, however wish they offered Qantas points.
Katelyn, New South Wales, reviewed 11 months ago
Innovative and proactive. Excellent service across the board
Innovative and proactive. Excellent service across the board
Anthony, Western Australia, reviewed over 2 years ago
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To apply for a Macquarie credit card, there are a few criteria you’ll have to meet before doing anything else. These are:
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:
