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Macquarie RateSaver Card
Macquarie RateSaver Card

Macquarie Bank Credit Cards

Macquarie RateSaver Card

Updated 7 March 2024

A good option if you're looking for a low interest rate, the Macquarie RateSaver Card helps you save with its 15.95% p.a. rate and $0 fees on purchases you make overseas, online and in-person. It also offers a reasonable annual fee, up to 55 days interest free on purchases, access to Visa Entertainment, Apple Pay, and Google Pay, all backed by dedicated client service available 24/7. Terms and conditions apply

Purchase Rate (p.a)

15.95%

Balance Transfer (p.a)

N/A  

Annual Fee (p.a)

$69

$0 over 0 months

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Pros and cons

  • Low purchase rate of 15.95% p.a.
  • $0 international transaction fees on purchases
  • Up to 55 days interest free on purchases
  • $69 annual fee
  • Up to 4 free additional cardholders
  • Eligible with Apple Pay and Google Pay

  • There is no rewards program linked to this card.

Creditcard.com.au review

Editor Review

Macquarie RateSaver 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 RateSaver Card

For a reasonable annual fee and low interest rate, the Macquarie RateSaver card offers up to 55 days interest free on purchases, access to Visa Entertainment, Apple Pay, and Google Pay, all backed by dedicated client service available 24/7.

What we love...

The Macquarie RateSaver card has plenty to offer cardholders who might carry a balance month to month with its 55 days interest-free that can help you manage cashflow.

The card’s purchase rate is lower than average, but still not exactly low – despite the card being called a ‘RateSaver’. If you tend to carry a balance, you may want to look at cards offering a lower purchase rate. However, if you clear your balance, the purchase rate should not affect you, as you can take advantage of the card’s interest free feature.

As for fees, again, this is not the lowest out there in the low-cost card space, but it’s not high either. But, you can choose to add up to 4 free additional cardholders, which can make organising the family finances a more efficient process.

What’s not so great...

This is a middle of the road low cost card. It doesn’t have a super low purchase rate or annual fee, but it can offer value if you make use of its features.

One important thing to note is that this card is only available if you're packaging it with a new or existing Macquarie home loan, or you're a Private Bank or Business Bank client.

Why should you choose this card?

While it may be a basic card, the Macquarie RateSaver credit card is backed by dedicated customer support, available 24 hours a day, seven days a week. As a cardholder, you can also enjoy access to Visa Entertainment, providing exclusive offers on all things entertainment, from sporting events to the hottest gigs, as well as Apple Pay and Google Pay compatibility.

To be eligible for this card, you must be an Australian permanent resident, over the age of 18, with a good credit rating. You must also earn at least $50,000 per year, a minimum income requirement that is higher than many other low rate cards in the market.

Overall Rating

With a low annual fee and ongoing low interest rate, the Macquarie RateSaver card is certainly appealing and has a few nice features thrown into the mix.

User reviews

Macquarie RateSaver Card ( based on 3 Creditcard.com.au user reviews )

25% rating based on 3 reviews

Rates
Fees
Rewards
Customer Service
Value
49%

Scarlett Wheatley

28 January 2013

This card has a reasonably low interest rate and the BT is good if you can pay off your transfers fast. The annual fee is okay, but I wouldn't pay much more for what you're getting.

Recommends this card

Rates and fees

Interest rates



Purchase rate 15.95% p.a.

Cash advance rate 15.95% p.a.

Interest free period on purchases up to 55 days

Credit limits

Minimum credit limit $2,000

Maximum credit limit N/A

Fees & repayments

Annual fee $69 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

Additional features

Complimentary insurance

International Travel Insurance No

Flight Inconvenience Insurance No

Transit Accident Insurance No

Smartphone Screen Insurance No

Purchase Protection Insurance No

Extended Warranty Insurance No

Rental Vehicle Excess In Australia Insurance No

Extras

Eligible with Apple Pay and Google Pay

Overview

Macquarie RateSaver Card

The Macquarie RateSaver credit card offers a low interest rate and simple features – designed as an everyday transactions card. Get up to 55 days interest free on purchases. Annual fee is $69 and up to 4 free additional cardholders.

Key features

  • Low purchase rate of 15.95% p.a.
  • $0 international transaction fees on purchases
  • Up to 55 days interest free period
  • Up to 4 free additional cardholders

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)

vijay

vijay

7 January 2024
Is it possible to upgrade my current ratesaver card to macquarie black card with macquarie rewards
    Pauline - CreditCard.com.au

    Pauline

    9 January 2024
    Hi Vijay, you’ve landed on Creditcard.com.au, Australia’s top credit card comparison site. I suggest contacting Macquarie directly at 1300 150 300 for your inquiry.
Kerrie Brown

Kerrie Brown

30 May 2018
Can I hook the rate saver card up to my Qantas frequent flyer card
John Bennett

John Bennett

22 April 2018
Hiw long does it normally take to be approved for a credit card
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    23 April 2018
    Hi John, 5-10 working days is a typically time frame for approval. Though this can vary on a range of factors.
Kelvin rethus

Kelvin rethus

18 September 2016
How do I apply
Grahame Bourne

Grahame Bourne

29 September 2014
How do I apply for it online?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    30 September 2014
    Through the MacBank website - http://www.macquarie.com.au/mgl/au/personal/credit-cards/visa-rate-saver
Grahame Bourne

Grahame Bourne

29 September 2014
I have just spent the last 30 minutes trying to find an online application form for a Macquarie business credit card and am tearing out my hair by the roots. Where do I find this application form; I can find a personal application form but not a business one. Grahame Bourne
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    29 September 2014
    Ah Macquarie - yes they don't make it easy! I can only find personal credit card applications as well. I suggest you contact them directly - http://www.macquarie.com.au/mgl/au/business-banking

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