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Macquarie Visa Platinum Credit Card
Macquarie Visa Platinum Credit Card
3 reviews
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Macquarie Bank Credit Cards

Macquarie Visa Platinum Credit Card

Updated 7 March 2024

Earn up to $20 in gift cards when you spend $3,100 per month on your Platinum card with Macquarie Rewards. Pay $0 on international transaction fees, online and in-person when you travel plus, get complimentary overseas and domestic insurance covers for you, your spouse and dependant children, and get a range of platinum perks.
T&Cs apply.

Points Earn Rate (per $1 spent)

1.25 points

Rewards

Rewards Program

Macquarie Rewards

Bonus Points

N/A

Pros and cons

  • Earn up to $20 in gift cards when you spend $3,100 per month on your Platinum card with Macquarie Rewards
  • Earn 1.25 Macquarie Reward Points for every $1 spent
  • $99 annual fee
  • 4 Free additional card holders
  • Complimentary overseas and domestic travel insurance
  • Extended warranty and premium insurance covers
  • $0 international transaction fees on purchases
  • Eligible with Apple Pay and Google Pay

  • Macquarie Reward points are earned on up to $200,000 of spend annually on the Macquarie Platinum Card

Creditcard.com.au review

Editor Review

Macquarie Visa Platinum Credit Card

Pauline Hatch
Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. about this card.

The Macquarie Platinum Card with Macquarie Reward Points

What we love...

You'll earn 1.25 Macquarie Reward points per $1 spent on purchases up to a total of $200,000 each year. If you spend $3,100 per month on your Platinum card, you can earn up to $20 in gift cards with Macquarie Rewards. You can check your points balance by signing into your account via the Macquarie Mobile Banking app or Macquarie Online. This is also where you redeem your points. So, what can you get?

Unlike many rewards programs out there, Macquarie Rewards seems to be fairly limited in its points redemption options. According to the bank’s site, you can redeem points for egift cards with popular brands such as Myer, Woolworths and Amazon, or exchange your points for cashback. Unfortunately, without a Macquarie account, we are unable to offer any info on how much you would receive in gift card or cashback value on your points.

So, how much will you pay to keep this card in your wallet? The annual card fee is $99 p.a. and the card does allow up to four additional cardholders with no annual fee, letting cardholders boost their spending power and their points earn.

What’s not so great...

Talking of interest, the Macquarie Platinum Card with Macquarie Reward Points is most definitely not a low rate card. With a relatively high rate on both purchases and cash advances, it’s best to avoid interest accruing by shunning the cash advance feature, and clearing your balance by the due date each month to take advantage of the card’s interest free feature (up to 55 days interest free on purchases).

Be aware that you can't apply for this card unless you are pairing it with a Macquarie home loan or be a Private or Business Bank client.

Why should you choose this card?

If you are looking for a card that earns points on a fairly straightforward rewards program, the Macquarie Platinum Card with Macquarie Reward Points may just be for you. Aside from offering you the opportunity to earn a nice selection of gift cards and cashback, the card also provides a platinum concierge service, access to Visa Entertainment, Apple Pay and Google Pay, peace of mind with Overseas Travel Insurance for you, your spouse, and any dependent children, Interstate Flight Inconvenience Insurance, and Extended Warranty Insurance on your card purchases.

You also won't pay international purchase fees when you shop online with international retailers or when you're buying in-store. You'll also get the Visa foreign exchange rate with no extra fees or charges, which can help keep your overseas spending costs down.

Overall Rating

Offering a generous range of offers and extras, the Macquarie Platinum Card with Macquarie Reward Points is a decent traveler's rewards card that can make local and overseas travel cheaper.

User reviews

Macquarie Visa Platinum Credit Card ( based on 3 Creditcard.com.au user reviews )

30% rating based on 3 reviews

Rates
Fees
Rewards
Customer Service
Value

Rates and fees

Interest rates



Purchase rate 20.70% p.a.

Cash advance rate 20.70% p.a.

Interest free period on purchases up to 55 days

Credit limits

Minimum credit limit $6,000

Maximum credit limit N/A

Fees & repayments

Annual fee $99 p.a.

Additional cardholder fee Up to 4 at $0 p.a.

Foreign transaction fee 0%

Minimum repayment 2% or $50 whichever is greater (RateSaver); 2.5% or $50 whichever is greater (Platinum & Black)

Cash advance fee 3% or $5 (whichever is greater)

Late payment fee $20

Rewards and points

Rewards program

Rewards Program Macquarie Rewards Macquarie Rewards

Bonus points N/A

Annual points cap $200,000

Bonus points spend criteria N/A

Earning points with this card

Rewards Rewards points 1.25 points per $1 spent

Points cap per month N/A

Overseas earn rate same as standard earn rate

Additional features

Complimentary insurance

International Travel Insurance Yes

Flight Inconvenience Insurance Yes

Transit Accident Insurance Yes

Smartphone Screen Insurance No

Purchase Protection Insurance Yes

Extended Warranty Insurance Yes

Rental Vehicle Excess In Australia Insurance Yes

Extras

Eligible with Apple Pay and Google Pay

Overview

Macquarie Visa Platinum Credit Card

The Macquarie Visa Platinum card offers 1.25 Macquarie Reward Points per $1 spent and a number of other platinum benefits such as free insurance and extended warranties, plus 4 free additional card holders.

Key features

  • Earn 1.25 Macquarie Reward Points for every $1 spent
  • $99 annual fee
  • 4 Free additional card holders
  • Complimentary insurance covers including extended warranty and premium insurance covers
  • $0 international transaction fees on purchases
  • Eligible with Apple Pay and Google Pay

Minimum criteria to apply for this card

  • Be over 18 years old

  • Good Credit and have not applied for multiple credit cards recently

  • A permanent resident of Australia, and be pairing the card with a home loan or be a Private or Business Bank client

  • Minimum income of $50,000 p.a.

  • You have your personal details ready to complete the online application

Pauline

Pauline is a personal finance expert at CreditCard.com.au, with 8 years in money, budgeting and property reporting under her belt. Pauline is passionate about seeing Aussies win by making their money – and their credit cards – work smarter, harder and bigger

Recently Asked Questions

Something you need to know about this card? Ask our credit card expert a question.

6 questions (showing the latest 10 Q&As)

Will Reichel

Will Reichel

18 April 2023
Hello , I have been researching a lot to find a credit card that best suites me. I am looking for something that has pretty good flight benefits without foreign transaction fees which seems to be harder to find than I initially thought. Do you have any suggestions? I have found a few but they don't have the best online ratings. Thank you!
    Pauline - CreditCard.com.au

    Pauline

    19 April 2023
    Hi Will, it’s actually rare to find credit cards that offer both flight and no foreign fee features together, but there are some options you can consider (aside from the ones you already have in mind). The catch is that you’ll earn points but pay foreign fees, so you’ll need to do the math on whether you’re OK with that. One option is to look for travel credit cards that are designed for travellers and offer perks such as airline miles or points, airport lounge access, and travel insurance. Some of these cards may also have no foreign transaction fees, making them a good choice if you plan to use your card for international purchases. Another option is to consider rewards credit cards that offer points or cashback on your everyday spending, and then use the rewards to offset travel expenses. These types of cards may also have flexible redemption options, including travel rewards. Best of luck in finding the best card for your needs!
Christine McCain

Christine McCain

19 January 2023
I have a platinum visa card & wish to view online however I am unable to
    Pauline - CreditCard.com.au

    Pauline

    20 January 2023
    Hi Christine, you’re currently on Creditcard.com.au, a website that provides information on a range of different credit card options. To contact Macquarie directly, you can call them at +61 2 8232 3333 or visit their website directly.
pgjag@bigpond.net.au

[email protected]

16 June 2022
Can you use the points from Macquarie platinum visa card on flight purchases?
    Pauline - CreditCard.com.au

    Pauline

    17 June 2022
    Hi there, I see that Macquarie Rewards points can be redeemed for eGift cards at their partner retailers like Jetstar, Myer, Woolworths, and more. You can check their official Macquarie Marketplace for more offers.
Louise Watkins

Louise Watkins

9 March 2021
what is the billing cycle for this card? That is, is it by the calendar month or from the date you received the card?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    10 March 2021
    Hi Louise, the billing cycle starts when your account is opened, not by the calendar month. For example, if you open an account on 3 December, your first billing cycle will be 3 December - 2 January, and then 3 January - 2 February and so on.
Neville Roberts

Neville Roberts

28 February 2017
What is the transfer rate from Macquarie points to Qantas FF Qantas points
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    1 March 2017
    Hi Neville, I am not sure of the transfer rate but there is a straight earn rate on this card. You get 1.25 Macquarie Reward Points per $1 spent or 1 Qantas Reward Point per $1 spend up to $2,500 per statement period, and 0.5 Qantas Point per $1 spend thereafter.
armando rigo

armando rigo

4 September 2014
I have a Platinum card and want to change my Pin . How do I do it??
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    5 September 2014
    I am not sure with Macquarie but typically you should be able to logo into your internet banking with them and update the PIN. If you cant find anywhere then give customer service a call, its possible that this function is done over the phone.

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