The Macquarie Black Card is a piece of plastic that every traveller needs to have in their backpocket. If you spend $3,000 within the first 60 days of approval, you’ll receive 40,000 bonus Qantas points, which will be automatically credited to your account, or receive 60,000 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 along with a 21.95% 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 $299, although you’ll only pay $99 in the first year. And if you like your online shopping just as much as the next person, watch out for the 3% foreign exchange margin.
Who it's 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.
While the Macquarie Black Card is a card that offers a range of privileges to enjoy, you’ll need factor the $299 annual fee into your budget. You’ll also need to steer clear of any ATMs because of the high 21.95% cash advance rate, which isn’t unusual for a black card as they usually incur higher fees.