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Our verdict

Offers 2 points per $1 on eligible spending, no foreign transaction fees and complimentary travel insurance, with a $149 annual fee.

The Macquarie Black is a rewards credit card that earns 2 points per $1 for your everyday spending, which you can redeem for eGift cards or cashback on your account. With this earn rate is competitive, keep in mind that some rewards cards offer a wider range of ways to use points. If you wanted these points to balance out the $149 annual fee, you’d also need to spend at least $14,438 per year or about $1,204 per month (which is enough to redeem $150 worth of eGift cards).

Pros

Earn 2 Macquarie Reward points for every $1 spent
0% international transaction fees
Complimentary overseas travel insurance and buyer's advantage cover on purchases

Cons

A high standard annual fee of $149

From 1 July 2024, the annual fee will increase from $149 to $249.

As well as rewards, the Macquarie Black Credit Card offers complimentary travel insurance and no foreign transaction fees – both valuable features for travellers. But unless you pay the total balance off each month (to make use of interest-free days on purchases), a 20.7% p.a. interest rate applies to purchases.

Details

Product details

Product Name	Macquarie Black Card
Purchase rate p.a.	20.7%
Interest-free period	Up to 55 days on purchases
Cash advance rate p.a.	20.7%
Min credit limit	$15,000
Card type	Visa

Eligibility

Available to temporary residents	No
Minimum income	$70,000
Joint application	No

Rewards

Rewards program	Macquarie Credit Card Rewards Program
Bonus points	N/A
Rewards points per $ spent	2

Fees

Annual fee	$149
Minimum monthly repayment	2.5% of the closing balance or $50, whichever is greater
Late payment fee	$20
Foreign currency conversion fee	0%
Cash advance fee	3% or $5, whichever is greater
Additional cardholder fee	$0
Number of additional cardholders	4

How to apply

Macquarie Bank credit cards are currently only available as part of a Macquarie home loan package or for Macquarie Private Bank or Business Bank clients that meet certain criteria. You'll also need to meet the following eligibility requirements and have all the required documents and details to complete your application.

Eligibility criteria

Minimum income. You must earn a minimum taxable income of $70,000.
Australian residency status. You can apply for this card if you are a citizen or permanent resident of Australia.

Credit history. You need to have a good credit score to apply. If you don't know what your credit score is, you can check it for free through Finder.
Age. You must be at least 18 years old to apply.

Required documents

Personal details. This includes your full name, date of birth, contact details, marital status and Australian driver's licence number (if you have one). You may also be asked to provide another valid form of ID, such as your passport or Medicare card number.
Employment details. As well as your salary, you need to share details of your current job title, length of employment and your employer's contact details. If you are self-employed or retired, you'll need to provide your accountant's details. You may also be asked to provide recent payslips, bank statements or a tax assessment notice from the ATO.
Financial details. This includes any other forms of income, savings and assets, as well as debts, loans and cards. You also need to estimate your monthly share of household expenses, such as rent or mortgage payments, utility bills and groceries.

Card benefits

No foreign transaction fees. If you use the Macquarie Black credit card overseas or online with an international retailer, you won't have to pay a foreign transaction fee. This can save you around 2-3% compared to cards that charge a foreign transaction fee.
Macquarie Rewards. This card earns 2 Macquarie Reward points per $1 spent on eligible purchases. This covers most of your everyday spending, but exclusions include balance transfers, cash advances and BPAY payments. You can redeem your points for cash back on your account or digital gift cards with over 50 retailers including Amart, Bunnings Warehouse, Harvey Norman, JB Hi-Fi, Jetstar, Myer and Woolworths. Learn more about the Macquarie Rewards program in this guide.

Interest-free days. If you pay your balance in full before the due date each month, you can enjoy up to 55 interest-free days on purchases.
Complimentary insurances. This card gives you access to overseas travel insurance for you, your spouse and any dependent children travelling with you. It also offers interstate flight inconvenience insurance and buyer's advantage cover on your eligible purchases.
Concierge service. Save time on tasks like picking a restaurant, buying gifts, planning events or booking a flight, by using this 24/7 concierge service.
Limousine travel. Arrive in style by booking a limousine transfer through your 24/7 Concierge service and receive 20% off your booking. These discounts are capped at $100 per year.
Mobile payments. Make payments straight from your compatible phone or device by adding this card to your Apple Pay, Google Pay, Fitbit Pay or Garmin Pay accounts.
Security. You can shop safely thanks to Visa's Zero Liability policy and 24/7 online account monitoring.

Rates & fees

Annual fee. This card has a standard annual fee of $149, which is on par with other premium credit cards.
Additional cards. If you want to share this account with your partner or other family members, you can get up to 4 additional cards. While the Macquarie Black doesn't charge an additional cardholder fee, you will be responsible for all transactions and payments on the account.

Purchase rate. This card has an interest rate of 20.7% p.a. for purchases.
Cash advances. Cash advances, including ATM withdrawals, attract an interest rate of 20.7% p.a. from the date they are made.

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Amy Finder

Editor

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Hayley

November 27, 2023

Are the 2 points per $1 spent available for overseas transactions?

Amy Bradney-George Finder

December 05, 2023

Hi Hayley,

Yes, this card earns points on eligible purchases overseas, such as hotel bookings, dining, entertainment, retail purchases and so on. But if you used this card to withdraw cash when you were overseas, you wouldn’t earn points as cash advance transactions are not classified as eligible spending. We’ve included details about eligible transactions in our review, and you’ll find further details in the rewards program terms and conditions or by contacting Macquarie directly. I hope this helps.

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John

October 18, 2023

Am I able to apply online through my Macquarie accounts?

Amy Bradney-George Finder

October 19, 2023

Hi John,

Macquarie Bank credit cards are currently only available as part of a Macquarie home loan package or for Macquarie Private Bank or Business Bank clients that meet certain criteria. So you’ll need to speak to a Macquarie home loan specialist or your broker to find out if you meet the criteria. I hope this helps.

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Kevin

July 13, 2023

Does Macquarie Black Card give airport lounge privileges?

Elizabeth Barry Finder

July 24, 2023

Hi Kevin,

This card does not come with any airport lounge access privileges. You can find a list of cards that offer these privileges here.

Hope this helps,

Elizabeth

Richard

August 22, 2019

Hi

Are these points transferable to airline awards, if so which ones exactly?

Thank you

Jeni Finder

August 23, 2019

Hi Richard,

Thank you for getting in touch with Finder.

Macquarie Reward Points are not transferable to any airline rewards program but can be used to book flights. You can redeem your Macquarie Reward Points through the Macquarie mobile app and Macquarie online page if you have a sufficient number of Macquarie Reward Points for your selected reward.

I hope this helps.

Thank you and have a wonderful day!

Cheers,

Jeni

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Mariella

September 16, 2016

What is MyCurrency personal shopper?

And when does the $7 fee for information request apply as an example? Thanks

Jonathan Finder

September 20, 2016

Hi Mariella, thanks for your inquiry!

The MyCurrency personal shopper service is a dedicated customer consultant that sources the reward you want from almost any vendor in Australia. It requires that you have a Macquarie Black Card or Macquarie Platinum Card and have accumulated 150,000 Macquarie Reward points. The value of the item requested must also be a minimum of $1,000.

In regards to the $7 fee for information request can you clarify where you have seen this detail please?

Cheers,

Jonathan

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Macquarie Black Card

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