Macquarie Bank Credit Cards

Macquarie Bank is a provider of credit cards, home loans, car loans, bank accounts, investment products, and business banking products.

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If you’re considering taking out a credit card from Macquarie, check out what’s on offer with our comparison table, based on a monthly spend of $2,000.

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Types of Macquarie Bank credit cards

There are three main types of Macquarie Bank credit card:

  • Macquarie Bank Black Card
  • Macquarie Bank Platinum Card
  • Macquarie Bank RateSaver

The Macquarie Bank Black Card and the Macquarie Bank Platinum Card come with your choice of the following rewards offers:

  • Macquarie Bank Rewards: Macquarie Bank’s own rewards program. Rewards points are redeemable for a wide range of reward types.
  • Qantas Frequent Flyer Rewards: Macquarie Bank’s tie-in with the Qantas Frequent Flyer program, allowing you to earn Qantas points on transactions. Rewards points are redeemable for frequent flyer travel rewards such as flights, upgrades, accommodation and tour packages, and much more.
  • Hilton HHonors: A joint venture with the Hilton group of hotels, the HHonors rewards program is only available on the Macquarie Bank Platinum Card. It brings you free weekend stays, upgraded Gold or even Platinum status at Hilton hotels, interest-free payment plans on some purchases, and much more.

Macquarie Bank Black Card

Features

  • Minimum credit limit: $15,000
  • Minimum income requirement: $70,000/year
  • Insurance available: Overseas Travel Insurance, Insterstate Flight Inconvenience Insurance, and Extended Warranty Insurance
  • Contactless: Contactless payments enabled via Visa payWave
  • Interest-free period: Up to 55 days
  • Rewards program options:
    • Macquarie Bank Rewards: Earn 2 Macquarie Bank Reward points per $1 spent. At the time of writing, a bonus applies – earn 60,000 Macquarie Bank Reward points when you spend $3,000 within your first 60 days.
    • Qantas: Earn 1 Qantas point per $1 spent up to $4,000 per statement period, then 0.5 Qantas points thereafter. At the time of writing, a bonus applies – earn 40,000 bonus Qantas Points when you spend $3,000 in the first 60 days.
    • Special benefits for booking with Visa Luxury Hotels
    • Discounted limousine travel
    • Airport lounge access and expedited airport concierge service
    • 24/7 Visa concierge service
    • Visa Entertainment benefits

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Macquarie Bank Platinum Card

Features

  • Minimum credit limit: $6,000
  • Minimum income requirement: $50,000/year
  • Insurance available: Overseas Travel Insurance, Insterstate Flight Inconvenience Insurance, and Extended Warranty Insurance
  • Contactless: Contactless payments enabled via Visa payWave
  • Interest-free period: Up to 55 days
  • Rewards program options:
    • Macquarie Bank Rewards: Earn 1.25 Macquarie Bank Reward points earned per $1 spent. At the time of writing, a bonus applies – earn 40,000 Macquarie Bank Reward points when you spend $2,000 within your first 60 days.
    • Qantas: Earn 1 Qantas point per $1 spent up to $1,000 per statement period, then 0.5 Qantas points thereafter. At the time of writing, a bonus applies – earn 40,000 bonus Qantas Points when you spend $2,000 in the first 60 days.
    • Hilton HHonors: Earn 4 HHonors points per $1 spent at Hilton hotels, and 1 point per $1 spent on all other purchases. Free weekend night stay valid at over 4,600 Hilton properties when you spend $12,000/year. Automatic HHonors Gold status, upgradeable to Diamond if you spend $40,000/year.
    • 24/7 Visa Concierge service
    • Visa Entertainment benefits

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Eligibility to apply for Macquarie Bank credit cards

To be eligible for one of Macquarie Bank’s credit card products, you must meet several eligibility criteria:

  • At least 18 years old
  • Australian citizen or permanent resident
  • Good credit history, and no outstanding debt that might affect your ability to pay off the credit card

To fill out the application for a Macquarie Bank credit card, you will need the usual documentation to apply for a credit card, including:

  • Gross annual salary
  • Currently employer contact details
  • Monthly expenses
  • Australian Drivers’ licence number (if you have one)
  • Accountant (if you are self-employed or retired)
  • Details about assets you own such as a home, car, other belongings, or savings
  • Any debts you currently owe on other credit cards, loans, or overdrafts

Read our checklist on applying for a credit card for a more detailed explanation of how the process works.

How to apply for a Macquarie Bank credit card

To apply for a Macquarie Bank credit card, you can compare credit cards on the Canstar website and apply for the card of your choice on the Macquarie Bank website. You can also call 1300 150 300 to apply over the phone or ask questions of a Macquarie Bank credit card specialist.

Read our checklist on applying for a credit card for a more detailed explanation of how the process works.

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Macquarie Bank FAQs

If your application is successful, you will need to activate your card before you can use it to make purchases. You can activate your card by logging into Macquarie Bank Online and following the prompts to enter your card’s details into your account.

You can manage your Macquarie Bank credit card using Macquarie Bank’s Online Banking service, or by downloading the Macquarie Bank app to your smartphone. Both services let you track your spending categories, check your statements online, and much more.

When interest is charged

Interest is charged on purchases when you carry a balance on your Macquarie Bank credit card. Interest is charged on cash advances from the date of withdrawal.

Interest is calculated daily, based on the balance you have outstanding on each day of the statement cycle, and billed monthly on your credit card statement.

When interest is not charged

Up to 55 interest-free days apply on Macquarie Bank credit cards. These interest-free days apply when you have paid the balance in full for the previous month as well as the current month’s statement.

For more information about interest-free days, check out our article on how they work.

Your initial credit limit is set out in your application based on the information that you provide. You can apply to increase or decrease your credit limit at your own discretion, and Macquarie Bank can approve or reject this request based on their lending criteria.

Find out more about how credit limits are determined here.

You can close your Macquarie Bank credit card account by logging into online banking and selecting the ‘Close Account’ option. You will need to repay your credit card balance in full in order to close your account.

If you’re cancelling your credit card because you aren’t happy with it, then consider checking out what else is on the market by clicking the button below to compare credit cards using the Canstar website:

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Macquarie Bank was founded in 1969 with just three staff members in a Sydney office. Today, it is a multinational financial group that provides a wide range of financial services in consumer and business banking in over 27 countries.

According to their website in 2017, Macquarie Bank boasts an impressive record of 48 years’ unbroken profitability.

Carbon neutral since 2010, Macquarie Bank also aims for sustainability in its environmental impact, provision of a safe and diverse workplace, and ethical governance.

Showing Rewards products in Canstar’s database with links to lenders’ websites. The display is sorted by purchase rate (lowest to highest) for credit cards that offer signup bonuses to consumers for a spend of $5,000 per month.

Table only displays five products. Click here to see more. Be sure to read the full terms and conditions of each deal before signing up.

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Macquarie Bank RateSaver Credit Card

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Written by: Sam Bloom | Last updated: