Thumbnail icon for Macquarie

Macquarie Black Card

Purchase rate
20.70% p.a.
Balance transfer rate
0% p.a. for 14 months and then 20.70% p.a.
Annual fees
$149
Interest free days on purchases
55

Mozo editorial review Macquarie Black Card

Last updated: 7 November 2019.

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What's hot
  • 0% p.a. balance transfer rate for the first 14 months
  • Points automatically credited to Qantas Frequent Flyer program
What's not
  • $149 annual fee
Mozo snapshot

The Macquarie Black Card is a frequent travellers new best friend. If you’re a member of the Qantas Frequent Flyer program, you’ll have two reasons to smile, thanks to the Macquarie Black Card rewards scheme. Not only are points automatically credited to your Qantas Frequent Flyer account, you’ll also be able to score bonus points on selected Qantas products and services in Australia. 


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Key features

The Macquarie Black Card is a piece of plastic that every traveller needs to have in their backpocket. If you spend $2,000 within the first 60 days of approval, you’ll receive 20,000 bonus Qantas points, which will be automatically credited to your account, or receive 20,000 Macquarie Bonus Points.

To get more specific about points, you’ll earn 1 point per dollar on Visa up to $4,000 a month and then 0.5 points per dollar, uncapped. You also won’t need to worry about the lifespan of your points, as they never expire.

Along with the Qantas Frequent Flyer rewards scheme, you’ll also be treated to other privileges, like complimentary travel insurance, extended warranty on any purchases, purchase protection and a concierge service.

If you’re ready to clear existing debt, you’ll have a 0% balance transfer rate for 14 months, before it jumps to a rate of 20.70%.

Bear in mind though, this prestigious card does come with a hefty 20.70% purchase rate and cash advance rate, so to avoid these charges, you’ll need to pay off your balance in full each month and avoid the ATM. The card comes with up to 55 interest free days

There’s also a $35 late payment fee and a pricey annual fee of $149.


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Who is it good for

The Macquarie Black Card is a great choice for anyone who wants to use a card to fuel their travel addiction through Qantas Frequent Flyer points and other travel perks.


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Any catches

While the Macquarie Black Card is a card that offers a range of privileges to enjoy, you’ll need factor the $149 annual fee into your budget. You’ll also need to steer clear of any ATMs because of the high 20.70% cash advance rate, which isn’t unusual for a black card as they usually incur higher fees. 

Rewards program details

Rates and fees information correct as at 4 August 2020. 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

110,400 points

Fly Sydney to Melbourne one-way

8,000 points

$100 Giftcard

18,010 points

$100 Cash

-

Points earning

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

Rewards scheme

Points automatically credited to your Qantas Frequent Flyer account

All rewards are redeemed via Qantas Frequent Flyer.

Earn bonus points on selected Qantas products and services in Australia.

Special offers

Receive 20,000 bonus Qantas Points when you spend $2,000 within 60 days of approval.

Value of rewards points

Spend $18,010 (Visa)

Spend $8,000 (Visa)

Spend $172,800 (Visa)

Uncapped

Never

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.

Close

Rate and fee details

Rates
  • 20.70% p.a.

  • none

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

  • no

  • 20.70% p.a.

  • 55

Fees
  • $149.00

  • none

  • none

  • none

  • $35.00

  • 3%, min $5.00

  • 0%

  • $7.00

  • $8.00

  • $0.00

Features
  • $50.00

  • 2.5

  • 4

  • none

Payment options

Apple Pay, Google Pay, Garmin Pay, Fitbit Pay

Rewards privileges

Concierge,
Travel Insurance,
Extended Warranty,
Purchase Protection

Customer Reviews

How are Macquarie credit cards rated by the Mozo community?

Overall customer rating
5.3/10
Price
5.2/10
Features
5.7/10
Customer service
5.1/10
Convenience
4.7/10
Trust
5.5/10

Latest reviews of Macquarie Black Card

  • Overall 0/10
    Living in 1980.

    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.

    Read full review

    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.

    Price
    4/10
    Features
    1/10
    Customer service
    0/10
    Convenience
    0/10
    Trust
    0/10
    Less
    Kel, New South Wales reviewed 4 months ago
  • Overall 9/10
    Excellent service across the board

    Innovative and proactive. Excellent service across the board

    Read 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 over 2 years ago
Macquarie

About Macquarie

Macquarie a global financial provider offers a variety of services to its clients. Macquarie provides a variety of products including banking, financial, advisory, investment and funds management services. Since its founding in 1969 Macquarie has become one of Australia's largest companies today.

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