100% unbiased and honest reviews made for you by a qualified and independent accountant

we compare every major bank and a lot of the smaller ones too

Macquarie Visa Platinum Credit Card

My monthly spend: 
$5,000
 
offer
card features
rewards program
earn rate
sign up bonus
your earnings
Earn 40,000 points when you spend $2,000 in 2 months.
Earn 1.25 pts per $1 spent.
Up to 4 additional cards with no annual fee.
Add to comparison
Macquarie Bank Rewards
Macquarie Bank Rewards
1.25 pts
per $1 spent
40,000
points
after spend criteria
 
in 12 mths (approx.) what can I do with these?

Pros & cons

What's good?

What's not so good?

Earn 40,000 points when you spend $2,000 in 2 months.
Earn 1.25 pts per $1 spent.
0% p.a. for 14 months on balance transfers.
Use up to 95% of credit limit for a balance transfer. Credit limits start from $6,000.
Up to 4 additional cards.
Range of complimentary insurances covering travel and purchases.
Visa payWave enabled.
Comes with Apple Pay.
A second year annual fee of $199 p.a.
Applicants must earn more than $50,000 each year.

User reviews

4.6 out of 5.0 based on 2 reviews100% of reviewers would recommend this card.

Rates and fees
Rewards
Customer service
Convenience
Trust
Disclaimer: The opinions expressed about credit cards are the reviewer's alone, and do not reflect the views of Credit Card Compare or the credit card issuer. Reviews have not been approved or otherwise endorsed by Credit Card Compare.

No complaints

Reviewed and recommended by Pina on 04 Jul 2016

I’ve had no problems with this card. The interest rate is competitive, the card is accepted everywhere, and customer service is very helpful. The rewards scheme has a large range of products to choose from as well as insurance and a concierge service if you need help finding a product. They even called me when something went through that shouldn’t have. Very pleased.

Good rewards system

Reviewed and recommended by Bob Punch on 19 Jun 2015

This card offers a good rewards system with 1.5 points per dollar spend. There is no need to use frequent flyer points for air travel as flights can be purchased directly from the airlines using reward points. There is a good range of other reward items similar to Westpac Altitude, but with less point deductions for items. Specials on reward items are frequently offered, saving even more points. Macquarie has a good online banking service and they provide very good customer service, answering the phone with minimum delay.

Basic details

About this card

Card setup
Single
Card tier
Platinum
Card type
Visa
Card use
Personal
Credit rating
Good
Gambling transactions allowed
No
Joint application
No
Minimum age
18 years old
Minimum income
$50,000
Minimum income for pensioners
Same as standard
Pensioners
Rewards program
Macquarie Bank Rewards
Temporary residents
N/A

Cardholders

Additional cardholders
4
Additional card fee
$0 p.a.

Credit limits

Minimum credit limit
$6,000
Maximum credit limit
N/A

Repayments

Interest charged from
Purchase date
Interest free period
Up to 55 days on purchases
Minimum repayment
2.5%

Balance transfers

The offer

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.14 months0%95% of credit limit20.70% p.a.

Balance transfers to this card

Balance transfer earns rewards
No
Balance transfer fee payment due
First statement
Balance transfer from personal loan
No
Balance transfer processing time
10 - 14 days
Interest free days with unpaid balance
0 days
Maximum balance transfer
95% of credit limit
Available to existing customers
No

Banks you can't balance transfer from

You can't balance transfer to the Macquarie Visa Platinum Credit Card at the promotional balance transfer rate from:

  • Jetstar
  • Macquarie Bank

Rates & fees

Promotional interest rates

Interest ratePeriodFeeLimitRevert rate
Balance transfers0% p.a.14 months0%95% of credit limit 20.70% p.a.
PurchasesN/AN/AN/AN/A N/A

Ongoing interest rates

MonthlyAnnually
Cash advances 1.83% 21.95% p.a.
Purchases 1.73% 20.70% p.a.

Fees

Annual fee
$99 p.a.
Annual fee 2nd year
$199 p.a.
Cash advance fee
3%
Dishonour fee
$10
Duplicate statement fee
$7
Foreign exchange fee
3%
Late payment fee
$35
Over limit fee
$30
Overseas ATM balance fee
N/A
Overseas ATM withdrawal fee
N/A
Overseas emergency card replacement fee
N/A
Transaction verification fee
$8

Rewards

Rewards program basics

First purchase bonus
40,000 points
Reward points expiry
N/A
Rewards program
Macquarie Bank Rewards
Spend required for bonus points
$2,000 in 2 months

Earning points with this card

ATO payment earns rewards
0 per $1 spent
Frequent flyer points
1.25 pts per $1 spent
Overseas earn rate
Same as standard earn rate
Points cap per month
N/A
Points cap per year
200,000
Reward points
1.25 pts per $1 spent

Additional benefits

Airport lounge access
No
Complimentary flight voucher
No
Concierge service
Yes

Benefits

This card comes with benefits worth an estimated $1,363

ShoppingEstimated value
Extended warranty
Valuation based on the assumption of making a $250 claim once every 5 years. There is no retail market for all-encompassing extended warranty insurance covering more than one item, so no premium saving.
$50
Purchase protection
Valuation based on the assumption of making a $200 claim once every 5 years. There is no retail market for this type of insurance, so no premium saving.
$40
Travel
Interstate flight inconvenience insurance
Valuation based on similar domestic travel insurance policies available online that include interstate flight inconvenience.
$290
Overseas travel insurance
Valuation based on similar annual travel insurance policies available online for trips of up to 60 days.
$801
Rental vehicle excess cover (separate from travel insurance)
Valuation based on similar rental vehicle excess insurance policies available online.
$32
Transit accident insurance
Valuation based on similar global transit accident insurance policies available online.
$150
Total estimated value$1,363
Annual fee$99
Net customer value$1,264
Disclaimer: Details of who, what, and where coverage applies to, as well as its duration and any coverage limitations will be listed in the credit card insurance product disclosure statement (PDS) on the card issuer's website. The names/labels of complimentary insurance products may differ from one issuer to another. Terms and conditions apply. Always check the insurance PDS when considering a financial product. Accurate as of 31st October 2015.

Minimum criteria for this card

What you need before applying

Be over 18 years old
You are a resident or citizen of Australia
Earn a regular income of more than $50,000 per year
Have a good credit history
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
Joint applications are not allowed
Age Pension, Disability Pension and Veteran's Pension are acceptable.
Overseas Pension and Widower's Pension are not acceptable.
Child Support Payments is acceptable.
Austudy, Carer's Allowance, Family Tax Benefits and Parenting Payments, Foster Care Allowance and Youth Allowance are not acceptable.
Disclaimer: The minimum criteria pointers are intended only to be a guide. Your application may still be rejected by the bank even if you can answer 'Yes' to all the minimum criteria. The final decision regarding your application is up to the bank.

Similar cards

More cards like this one

This card is listed in these comparisons

Still need help? Ask us a question

Fire away
We welcome your questions but we cannot help if you need personal financial advice or if have lost your card or need to resolve a dispute with your bank.
as seen in
Compare these cards: