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Macquarie Rewards Program

Got a Macquarie Rewards credit card? Here’s how to use your points, earn more and get value from the program.

Macquarie Rewards is a credit card program that lets you earn points on all eligible purchases you make with a Macquarie Platinum Card or Macquarie Black Card. You can redeem your points online for cashback or eGift cards from over 50 brands including JB Hi-Fi, Myer, THE ICONIC, Coles and Woolworths.

How to earn Macquarie Rewards points

The Macquarie Platinum or Macquarie Black credit cards offer the following earn rates on your spending.

Card typeReward points earn ratePoints cap
Macquarie PlatinumEarn 1.25 points per $1 spent on eligible purchases.200,000 points per year.
Macquarie BlackEarn 2 points per $1 spent on eligible purchases.None

What counts as "eligible purchases"?

Most everyday transactions are eligible to earn points, including dining out, petrol, clothes and groceries.

Transactions that don't earn points are include BPAY payments, cash advances, balance transfers, credit card rates and fee costs, any refunded transactions and government charges.

What rewards can you get with your points?

Currently, you have two ways to redeem Macquarie Rewards points:

  • eGift cards. You can redeem your points for digital gift cards from leading brands including Bunnings Warehouse, Myer, JB Hi-Fi and Woolworths. Redemptions start from 3,850 points for a $20 digital gift card.
  • Cashback. You can redeem Macquarie Rewards points for cashback to an eligible Macquarie account, starting from $20 cashback for 5,500 points.

How much are Macquarie Bank credit card rewards points worth?

Macquarie Rewards points typically give you $5.19 value per 1,000 points if you redeem them for eGift cards, or $3.64 (rounded to the nearest cent) if you redeem them for cashback.

To give you an idea, here are some examples of different reward values, based on the details shown on the Macquarie Bank website.

Points neededRewardReward value in dollarsValue per 1,000 points
3,850$20 Woolworths eGift card$20$5.19
19,250$100 Flight Centre eGift card$100$5.19
27,500$100 cashback$100$3.64
55,000$200 cashback$200$3.64

Keep in mind that point and reward values can change, so it's a good idea to log into your Macquarie Rewards credit card account to check current details.

If you want to work out values for different rewards, you can also use Finder's guide to calculating the values of rewards points as a cheat sheet.

Ways to boost your Macquarie Rewards balance

  • Additional cardholders. Sharing your account with a partner or other family member gives you a way to earn points faster, as any eligible spending they do with their additional card will also earn you points. Note that you will still be responsible for paying off the balance and keeping the account in good standing.

How to redeem Macquarie Rewards points

You can redeem your Macquarie Rewards points through the Macquarie Mobile Banking app or Macquarie Online. Once you have logged in to your account, you will be able to see your point balance and browse rewards from the following two categories:

Steps to redeem Macquarie Rewards points

  1. Log into your account through Macquarie Online Banking or the Macquarie Mobile Banking app.
  2. Click through to Macquarie Marketplace.
  3. Choose between Cashback and eGift cards, then follow the prompts to complete your redemption.

How to decide if the Macquarie Bank credit card rewards program is worth it for you

Both the Macquarie Black and Platinum credit cards attract an annual fee, so you'll need to weigh up whether the value of the rewards you're likely to receive will offset this cost.

The Macquarie Platinum Card has an annual fee of $99 p.a.. This means you'd need to spend $15,260 to earn enough points to make the fee worthwhile.

So, ask yourself how much you'll use the card and if the eGift cards or cashback rewards are actually useful and valuable to you.

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Written by

Amy Bradney-George

Amy Bradney-George was the senior writer for credit cards at Finder, and editorial lead for Finder Green. She has over 16 years of editorial experience and has been featured in publications including ABC News, Money Magazine and The Sydney Morning Herald. See full profile

More guides on Finder

  • Macquarie Black Card

    The Macquarie Black credit card earns 2 points per $1 spent, which you can use to get digital gift cards or cash back on your account.

  • Macquarie Platinum Credit Card

    The Macquarie Platinum gives you access to rewards, complimentary travel insurance and a concierge service.

  • Macquarie RateSaver Card

    This low-cost credit card has the same interest rate for purchases and cash advances.

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