Discontinued: Macquarie Visa Platinum Qantas 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. Ask Pauline a Question about this card.

The Macquarie Platinum Card with Qantas Points

Giving new cardholders a boost to their points earning, the Macquarie Platinum Card with Qantas Points is currently offering 20,000 bonus Qantas Points when they spend $2,000 within the first 60 days. Also on offer up to four free additional cardholders, complimentary insurance covers, and access to a Platinum Concierge Service.

What we love...

Bonus points are pretty exciting, so let’s start there. When you apply and are approved for the Macquarie Platinum Card with Qantas Points, you can earn 20,000 bonus Qantas Points simply by spending $2,000 on the card within the first 60 days. Considering the places you could go on 20,000 Qantas Points, we think this is a pretty good deal indeed.

Ongoing, the card also offers a decent earn rate, although it does feature points shaping after the first $1,000 spent per statement period. You will earn:

• 1 Qantas Point per $1 spent on eligible purchases up to $1,000 spent per statement period,
• 0.5 Qantas Points per $1 spent on eligible purchases for the remainder of that statement period,
• 1 additional Qantas Point on selected Qantas products and services.

So, how much will the card cost you? When comparing rewards cards, it’s always important to weigh the value of the points you will earn against the cost of the card’s annual fee of $99.

Helping you to earn points faster, you can add up to four additional cardholders to the account at no extra cost. While that points shaping still applies, earning extra points on additional cardholder spending could certainly offer more value on this card.

Before we move on to the card’s extras, we should also point out the Macquarie Platinum Card with Qantas Points is currently offering 0% p.a. on balance transfers for 14 months. This is an awesome balance transfer offer, but it’s worth bearing in mind that with a rewards card, you spend to earn points. You would need to work hard to pay off those new purchases alongside your transferred balance to really make the most of the offer.

What’s not so great...

As with most platinum cards – especially platinum rewards cards – the Macquarie Platinum Card with Qantas Points has a high rate of interest on both purchases and cash advances. But, as long as you clear your balance before it starts accruing interest, you can avoid these higher rates. This will make it easier to find value in the rewards on offer too.

Why should you choose this card?

If you want to earn Qantas Points on your card spending, the Macquarie Platinum Card with Qantas Points could be the ideal option for you. You can enjoy a nice boost to your points balance with the card’s bonus points offer, and depending on your card spend, you could see real value in your points earn as well.

If platinum perks are your thing, this card offers a few nice extras, including complimentary insurance cover, offering Overseas Travel Insurance for you, your spouse and any dependent children, Interstate Flight Inconvenience Insurance to cover meals or clothing, and Extended Warranty Insurance on your purchases. Read the PDS for full info.

As a cardholder, you will also have access to Macquarie Bank’s concierge service, available 24 hours a day, seven days a week. Whether you want to book tickets on Broadway, or reserve a table in the hippest restaurant in Berlin, your concierge could make that happen. You can also benefit from access to Apple Pay for faster, easier payments with your synced device.

Overall Rating

Drawing you in with 20,000 bonus Qantas Points, the Macquarie Platinum Card with Qantas Points also offers 0% p.a. on balance transfers for 14 months, and a range of platinum perks.