Macquarie Bank Credit Cards

Macquarie Bank is a provider of credit cards in Australia, as well as other products such as home loans, car loans, bank accounts, investment products, and business banking products.

What credit cards does Macquarie offer?

Below is a summary of the credit card(s) available through Macquarie based on its website, at the time of writing. Note Macquarie, at the time of writing, has paused new credit card applications, with some exceptions. You can contact Macquarie for more information on credit card applications when you want to apply.

Macquarie Black Card (Macquarie Rewards)

Features

Card type: Visa
Minimum credit limit: $15,000
Annual fee: $149
Purchase rate: 20.70%
Interest-free period: 55 days if account is paid in full by the due date each month. Excludes balance transfers and interest free finance balances in promotional periods.
Cash advance rate: 20.70%
Minimum repayments: 2.5% of the closing balance (rounded up to the nearest dollar) or $50, whichever is greater.
Late repayment fee: $20 per statement period. A $10 dishonour fee applies if a payment to your account is dishonoured.
Contactless payments: on purchases up to $100, and the card can be added to Apple Pay and Google Pay.
Security: a temporary lock can be placed on cards that are misplaced. The Macquarie Authenticator app sends notifications to approve online transactions and account activity.
Additional: up to 4 additional cardholders can be added with no extra fee. The Macquarie Rewards program offers 2 points per $1 spent with your card on eligible purchases. Balance transfer is available with 0% p.a. interest for the first 14 months.

Macquarie Platinum Card (Macquarie Rewards)

Features

Card type: Visa
Minimum credit limit: $6,000
Annual fee: $99
Purchase rate: 20.70%
Interest-free period: 55 days if account is paid in full by the due date each month. Excludes balance transfers and interest free finance balances in promotional periods.
Cash advance rate: 20.70%
Minimum repayments: 2.5% of the closing balance (rounded up to the nearest dollar) or $50, whichever is greater.
Late repayment fee: $20 per statement period. A $10 dishonour fee applies if a payment to your account is dishonoured.
Contactless payments: on purchases up to $100, and the card can be added to Apple Pay and Google Pay.
Security: a temporary lock can be placed on cards that are misplaced. The Macquarie Authenticator app sends notifications to approve online transactions and account activity.
Additional: up to 4 additional cardholders can be added with no extra fee. Up to 1 point is accrued for every $1 spent on eligible purchases. Balance transfer is available with 0% p.a. Interest for the first 14 months.

Macquarie RateSaver Card

Features

Card type: Visa
Minimum credit limit: $2,000
Annual fee: $69
Purchase rate: 15.95%
Interest-free period: 55 days if account is paid in full by the due date each month. Excludes balance transfers and interest free finance balances in promotional periods.
Cash advance rate: 15.95%
Minimum repayments: 2% of the closing balance (rounded up to the nearest dollar) or $50, whichever is greater.
Late repayment fee: $20 per statement period. A $10 dishonour fee applies if a payment to your account is dishonoured.
Contactless payments: on purchases up to $100, and the card can be added to Apple Pay and Google Pay.
Security: a temporary lock can be placed on cards that are misplaced. The Macquarie Authenticator app sends notifications to approve online transactions and account activity.
Additional: additional cardholders can be added for $10 per person. Balance transfer is available with 0% p.a. interest for the first 14 months.

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Macquarie FAQs

To be eligible for a Macquarie card, you need to be 18 years old or over and an Australian citizen or permanent Australian resident. Macquarie also says you will require a good credit rating and need to earn a minimum taxable income of $50,000 per annum for either a Macquarie Platinum or RateSaver card, or $70,000 for a Macquarie Black card.

Other criteria may also apply, so contact Macquarie for more information.

Macquarie has currently paused applications for new credit cards. They may still be available to certain clients or through a Macquarie home loan package. Contact Macquarie for more information.

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If you are able to apply for a Macquarie credit card, you will be required to provide an Australian driver licence number (if you have one), your gross annual salary, monthly expenses, current employer contact details and accountant details (if self-employed or retired).

You will need to activate your Macquarie credit card when it arrives before you can use it. Macquarie says you can activate your card online or through its mobile banking app.

You can manage your Macquarie credit card through online banking or via the Macquarie mobile banking app, which is available for both Apple and Android devices. The app can also send transaction notifications.

Macquarie says it calculates interest on each amount debited to your account starting from the date of a payment due date or transaction date until the date it’s repaid, including for purchases, cash advances, balance transfers and special promotions.

When interest is charged:

Interest is charged when you carry a balance on your Macquarie credit card beyond the pay cycle. For example, if you have a 55-day interest-free period and the statement period runs 1–30 June, you will have approximately 25 days after 30 June to pay your bill in full before the interest is charged.

When interest is not charged:

At the time of writing, there is an interest-free period of up to 55 days if you meet the interest-free criteria. Interest-free days only apply if you have paid the balance in full for the previous month’s statement and for the current month’s statement (the statement on which the purchases are listed).

Your credit limit for a Macquarie credit card will be determined based on the information you provide in your application, keeping in mind the minimum credit limit is $2,000 for the RateSaver card, and $15,000 for the Black card at the time of writing.

Macquarie says you can ask to reduce your credit limit at any time over the phone or online. Macquarie reserves the right to reduce your credit at any time without notice. Macquarie says your eligibility for credit or a particular credit limit will be subject to its lending criteria.

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You can submit a request for your Macquarie credit card to be closed by calling or emailing a signed request. If an outstanding balance remains, your account will not be closed until you have paid off the balance in full, along with any interest, fees or other charges.

Macquarie is an Australian-operated bank that was founded in 1969 in Sydney. Today it offers savings accounts, credit cards, home and car loans, investing products and business banking.