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Macquarie Visa Platinum Credit Card

2 reviews
points over 12 months Calculate your savings icon

Earn rate per $1

1.25 points
16.77% Complete (success)
Macquarie Rewards

Bonus points

40,000 points
40,000% Complete (success)

Annual fee

$99 first year
99% Complete (success)
then $199

Pros

Earn rewards points on your purchases

Complimentary insurance covers

Additional cardholders at no extra cost

Bonus points offer

$0 international transaction fees

Cons

High purchase and cash advance rate

After first year the annual fee is $199

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. 40,000 bonus Macquarie Reward Points when you spend $2,000 within 60 days of approval. Reduced annual fee: $99 first year, $199 ongoing.

Key features

  • Earn 1.25 Macquarie Reward Points for every $1 spent
  • Annual fee: $99 first year, $199 ongoing
  • 4 Free additional card holders
  • 0% p.a. for 14 months on balance transfers from card approval
  • 40,000 bonus Macquarie Reward Points when you spend $2,000 within 60 days of approval
  • Complimentary insurance covers including extended warranty and premium insurance covers
  • $0 international transaction fees
100% of customers who have rated this card would recommend it
  • Rates
    37%
  • Fees
    66%
  • Rewards
    75%
  • Customer Service
    67%
  • Value
    55%
Overall user rating 60%
2 reviews
Interest Rates
Purchase rate 20.70% p.a.
Cash advance rate 21.95% p.a.
Interest free on purchases up to 55 days
Balance Transfer
Balance transfer rate 0% p.a. for 14 months
Balance transfer fee No fee
Balance Transfer revert rate 20.70% p.a.
Balance transfer limit 95% of your approved new credit limit
Balance transfer from personal loan No
Banks you can't balance transfer from Jetstar ,Macquarie Bank
Credit limits
Minimum credit limit $6,000
Maximum credit limit N/A
Fees & repayments
Annual fee $199 p.a.
Annual fee first year $99
Additional cardholder fee Up to 4 at $0 p.a.
Cash advance fee 3%
Foreign transaction fee 0%
Minimum repayment 2.5%
Late payment fee $35
Credit card type Visa
Rewards program
Rewards program Macquarie Rewards Macquarie Rewards
Bonus points 40,000 Rewards points
Annual points cap 200,000
Bonus points spend criteria Spend $2,000 within first 60 days
Earning points with this card
Rewards points 1.25 points per $1 spent
Overseas earn rate same as standard earn rate
Points cap per month N/A
Complimentary insurance
Overseas travel insurance yes - up to months
Flight inconvenience insurance Yes
Transport accident cover Yes
Smartphone screen insurance No
Purchase protection insurance Yes
Extended warranty insurance Yes
Rental vehicle excess cover Yes
Extras
Eligible with Apple Pay

The Macquarie Platinum Card with Macquarie Reward Points

Allowing new customers to get a head-start on their points earning, the Macquarie Platinum Card with Macquarie Reward Points is currently offering 40,000 bonus Macquarie Reward points after a $2,000 spend. Cardholders can also benefit from a discounted annual fee in the first year, a range of platinum perks, and 0% p.a. on balance transfers for 14 months.

What we love...

One of the first things you will likely notice about the Macquarie Platinum Card with Macquarie Reward Points is the card’s bonus points offer. If you apply and are approved for this card, you will receive 40,000 Macquarie Reward points when you spend $2,000 on the card within the first 60 days. This should set you up nicely as you continue to earn points day to day.

Everyday points earning offers an earn rate of 1.25 Macquarie Reward points per $1 spent, on purchases up to a total of $200,000 each year. You can check your points balance by signing into your account via the Macquarie Mobile Banking app and 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 gift cards, 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? New cardholders can enjoy a discounted annual fee in the first year, offering more value on their rewards earn. After the first year though, the annual fee doubles, so it may become harder to find value in those rewards. However, the card does allow up to four additional cardholders with no annual fee, letting cardholders boost their spending power and their points earn.

Putting aside the card’s platinum perks just now, let’s get to the last part of the card’s introductory offer. Working well for cardholders who want to pay down existing credit card debt, the card is currently offering 0% p.a. on balance transfers for 14 months. This could give you more than a year to put a real dent in that debt, while paying nothing in interest on it.

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).

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 and Apple Pay, and 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.

To be eligible, you must a permanent resident aged 18 or over, with a good credit rating, and a minimum income of $50,000 per year.

Overall Rating

Offering a generous range of intro offers and extras, the Macquarie Platinum Card with Macquarie Reward Points provides 40,000 bonus Macquarie Reward points after a $2,000 spend, a discounted annual fee for the first year, and 0% p.a. on balance transfers for 14 months.

2 questions (showing the latest 10 Q&As)

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.
  • Be over 18 years old
  • Good credit and not applied for multiple credit cards recently
  • Resident or citizen of Australia
  • Minimum income of $50,000 p.a.
  • You have your personal details ready to complete the online application
Macquarie Visa Platinum Credit Card
Macquarie Visa Platinum Credit Card

Macquarie Bank Credit Cards

Macquarie Visa Platinum Credit Card

Updated 5 July 2019

Points Earn Rate (per $1 spent)

1.25

points

Rewards

Rewards Program

Macquarie Rewards

Bonus Points

40,000 pts

Spend $2,000 within first 60 days

0 points over 12 months spend

My monthly card spend

Pros and cons

  • Earn rewards points on your purchases
  • Complimentary insurance covers
  • Additional cardholders at no extra cost
  • Bonus points offer
  • $0 international transaction fees

  • High purchase and cash advance rate
  • After first year the annual fee is $199

Creditcard.com.au review

Editor Review

The Macquarie Platinum Card with Macquarie Reward Points

Allowing new customers to get a head-start on their points earning, the Macquarie Platinum Card with Macquarie Reward Points is currently offering 40,000 bonus Macquarie Reward points after a $2,000 spend. Cardholders can also benefit from a discounted annual fee in the first year, a range of platinum perks, and 0% p.a. on balance transfers for 14 months.

What we love...

One of the first things you will likely notice about the Macquarie Platinum Card with Macquarie Reward Points is the card’s bonus points offer. If you apply and are approved for this card, you will receive 40,000 Macquarie Reward points when you spend $2,000 on the card within the first 60 days. This should set you up nicely as you continue to earn points day to day.

Everyday points earning offers an earn rate of 1.25 Macquarie Reward points per $1 spent, on purchases up to a total of $200,000 each year. You can check your points balance by signing into your account via the Macquarie Mobile Banking app and 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 gift cards, 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? New cardholders can enjoy a discounted annual fee in the first year, offering more value on their rewards earn. After the first year though, the annual fee doubles, so it may become harder to find value in those rewards. However, the card does allow up to four additional cardholders with no annual fee, letting cardholders boost their spending power and their points earn.

Putting aside the card’s platinum perks just now, let’s get to the last part of the card’s introductory offer. Working well for cardholders who want to pay down existing credit card debt, the card is currently offering 0% p.a. on balance transfers for 14 months. This could give you more than a year to put a real dent in that debt, while paying nothing in interest on it.

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).

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 and Apple Pay, and 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.

To be eligible, you must a permanent resident aged 18 or over, with a good credit rating, and a minimum income of $50,000 per year.

Overall Rating

Offering a generous range of intro offers and extras, the Macquarie Platinum Card with Macquarie Reward Points provides 40,000 bonus Macquarie Reward points after a $2,000 spend, a discounted annual fee for the first year, and 0% p.a. on balance transfers for 14 months.

User reviews

Macquarie Visa Platinum Credit Card ( based on 2 Creditcard.com.au user reviews )

60% rating based on 2 reviews

Rates
Fees
Rewards
Customer Service
Value

Rates and fees

Interest rates

Purchase rate 20.70% p.a.

Cash advance rate 21.95% p.a.

Interest free on purchases up to 55 days

Balance transfer

Balance transfer rate 0% p.a. for 14 months

Balance transfer revert rate 20.70% p.a.

Balance transfer from personal loan No

Balance transfer fee No fee.

Balance transfer limit 95% of approved credit limit

Banks you can't balance transfer from Jetstar, Macquarie Bank

Credit limits

Minimum credit limt $6,000

Maximum credit limit N/A

Fees & repayments

Annual fee $199 p.a.

Additional card holder fee Up to 4 at $0 p.a.

Foreign transaction fee 0%

Minimum repayment 2.5%

Annual fee the first year $99

Cash advance fee 3%

Late payment fee $35

Rewards and points

Rewards program

Rewards Program Macquarie Rewards Macquarie Rewards

Bonus points 40,000 Rewards points

Annual points cap 200,000

Bonus points spend criteria Spend $2,000 within first 60 days

Earning points with this card

Rewards pointsRewards points 1.25 points per $1 spent

Points cap per month N/A

Overseas earn rateOverseas earn rate same as standard earn rate

Additional features

Complimentary insurance

Overseas travel insurance yes

Flight inconvenience insurance Yes

Transport accident cover Yes

Smartphone screen insurance No

Purchase protection insurance Yes

Extended warranty insurance Yes

Rental vehicle excess cover Yes

Extras

Eligible with Apple 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. 40,000 bonus Macquarie Reward Points when you spend $2,000 within 60 days of approval. Reduced annual fee: $99 first year, $199 ongoing.

Key features

  • Earn 1.25 Macquarie Reward Points for every $1 spent
  • Annual fee: $99 first year, $199 ongoing
  • 4 Free additional card holders
  • 0% p.a. for 14 months on balance transfers from card approval
  • 40,000 bonus Macquarie Reward Points when you spend $2,000 within 60 days of approval
  • Complimentary insurance covers including extended warranty and premium insurance covers
  • $0 international transaction fees

Minimum criteria to apply for this card

  • Be over 18 years old

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

  • Resident or citizen of Australia

  • Minimum income of $50,000 p.a.

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

Roland B Bleyer

Roland B Bleyer founded Creditcard.com.au in 2005 and has extensive knowledge about credit cards. He personally answers all questions and write the editor reviews for each card here. Always keen to share his passion to educate consumers and help you select better suited credit cards.

Recently Asked Questions

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

2 questions (showing the latest 10 Q&As)

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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