Macquarie Platinum Card – Details & Application

Information verified correct on December 5th, 2016

Enjoy 40,000 bonus Reward points and interest-free days with the Macquarie Platinum Card.

Manage your expenses and access a variety of exclusive extras with the Macquarie Platinum Card. Not only will you earn points on purchases, you can also earn 40,000 bonus Macquarie Reward points when you spend $2,000 within 60 days of approval. You can redeem these points for travel, gift cards, vouchers, experiences and more. You'll also enjoy a reduced annual fee for the first year, a 0% p.a. for 14 months balance transfer offer and up to 55 interest-free days on purchases. Discover how you can apply for the card and take advantage of its benefits below.

Product NameMacquarie Platinum Card
Rewards ProgramMacquarie Credit Card Rewards Program
Balance transfer rate (p.a.)0% p.a. for 14 months
Balance Transfer Revert Rate
The interest rate after the balance transfer ends.
Purchase Rate (20.7% p.a.)
Purchase rate (p.a.)20.70% p.a.
Annual fee$99 p.a. annual fee for the first year ($199 p.a. thereafter)
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 55 days on purchases
Cash advance rate (p.a.)21.95% p.a.
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$6,000
Minimum Monthly Repayment2.5% of the total balance or $50, whichever is greater
Minimum Income$50,000
Card TypeVisa
Late Payment Fee$35
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Complimentary Travel InsuranceYes
Complimentary Travel Insurance Cover3 months
Available To Temporary ResidentsNo
Joint ApplicationNo
Minimum Income$50,000
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
Min Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$6,000
Annual Fee$99 p.a. annual fee for the first year ($199 p.a. thereafter)
Minimum Repayment2.5% of the total balance or $50, whichever is greater
Late Payment Fee$35
Over Limit Fee$30
Cash Advance Fee$5 or 3% of the value of the transaction
Foreign Currency Conversion Fee (VISA)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Gambling Transactions AllowedNo
Additional Cardholder Fee$0 p.a.
Number of Additional Cardholders4
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
In BranchYes
MailYes

Pros

  • Receive 40,000 bonus Macquarie Reward points on eligible spend.
  • This card comes with a promotional balance transfer rate of 0% p.a. for 14 months.
  • Take advantage of a discounted annual fee for the first year.
  • Enjoy up to 55 days interest-free on purchases.
  • You can apply up to 4 additional cardholders at no extra cost.

Cons

  • A standard purchase rate of 20.7% p.a. applies at the end of the promotional balance transfer period.
Rewards ProgramMacquarie Credit Card Rewards Program
Bonus Points on Sign-up40,000
Rewards Points per $ (VISA/MC)1.25
Rewards Points per $ (AMEX)0
Rewards Points per $ (VISA/MC) Cap250,000
Rewards Points per $ (AMEX) CapN/A
Points ExpiryNever

Macquarie Platinum Card review

The Macquarie Platinum Card offers cardholders a number of perks. If you're planning to use the card for purchases, you could benefit from interest-free days, the Macquarie Rewards program and bonus points offer that allows you to earn rewards as you spend. If you're looking to repay a debt rather than spend, you can save on interest costs with a 0% p.a. for 14 months balance transfer offer. Plus, a reduced annual fee for the first year, range of complimentary insurances and a 24/7 concierge service are just some of the ways you can enjoy savings and convenience with this card.

Benefits of the Macquarie Platinum Card

  • Bonus Macquarie Reward points. You can earn up to 1.25 Macquarie Reward points on every dollar you spend. These rewards can be redeemed for travel bookings, gift cards, vouchers, experiences, entertainment and merchandise. Plus if you spend $2,000 within the first 60 days of approval, you'll receive 40,000 bonus points.
  • Balance transfer offer. Consolidate your debt and save on interest costs with a 0% p.a. for 14 months balance transfer offer.
  • Interest-free days. Receive up to 55 interest-free days on purchases when you repay your balance in full by the end of the statement period.
  • Complimentary insurances. Travel and spend with peace of mind thanks to complimentary overseas travel insurance, interstate flight inconvenience insurance and extended warranty insurance on your purchases.
  • Eligible for Android Pay. Simply place your compatible Android device near a contactless terminal at checkout for a fast and easy way of making purchases. Learn more here.
  • 24/7 Concierge service. Enjoy the convenience of 24/7 Concierge Service as a platinum cardholder. Receive professional assistance to find the goods and services you need, whether you're trying to book a restaurant reservation, find the perfect gift or secure tickets to an upcoming show.

Features of the Macquarie Platinum Card

  • Annual fee. This card comes at the cost of a reduced $99 annual fee for the first year ($199 p.a. thereafter).
  • Interest rates. You'll collect 20.70% p.a. on purchases and 21.95% p.a. on cash advances.
  • Additional cardholder. You can receive up to 4 additional cards for no extra cost.
  • Advanced security. All Macquarie Visa cardholders can enjoy peace of mind with protection against criminal activity from Visa's Zero Liability policy. Also purchase online safely with 24/7 online account monitoring which provides advanced fraud protection.
  • Visa Entertainment. You'll receive exclusive access to offers on music, movies, theatre and home entertainment with Visa Entertainment.
  • Macquarie Personal Travel. Enjoy a personal travel agent that assists you on your flights, tours, car hire and accommodation needs.

How to apply for Macquarie Platinum Card

To receive approval for this card, you'll need to meet the following eligibility requirements:

Eligibility criteria

  • You are 18 years old or over.
  • You are a permanent resident of Australia.
  • You have a good credit rating.
  • You must earn a minimum taxable income of $50,000 p.a.

Required documents

  • Your personal details
  • Information about your income, expenses and liabilities

The Macquarie Platinum Card offers a number of perks and beneficial features, but it's important to compare your options to find the right card for you.

Back to top
Was this content helpful to you? No  Yes

Ask a Question

You are about to post a question on finder.com.au

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to the finder.com.au privacy policy, receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

10 Responses to Macquarie Platinum Card – Details & Application

  1. Default Gravatar
    Mark | October 25, 2016

    Is there a cap on points per month or year? Which airlines can points be transferred to? How many visits to airport lounges per year and which lounge is available for use?

    • Staff
      Anndy | October 27, 2016

      Hi Mark,

      Thanks for your questions.

      For Macquarie Platinum Card, there is a yearly cap of 250,000 rewards points.

      Unfortunately, the Macquarie Platinum Card does not offer complimentary airport lounge access. The points also can’t be transferred to any frequent flyer program.

      Cheers,
      Anndy

  2. Default Gravatar
    | September 20, 2016

    Am I able to balance transfer from a card not under my name? I also used to have a jetstar card from last year is the balance transfer offer still available to me?

    • Staff
      Arra | September 20, 2016

      Hi Leo,

      Thanks for your inquiry.

      To answer your first question, balance transfer between two people’s names is allowed by Macquarie Bank according to this guide. However, please take note that balance transfer is not possible between any account issued by Macquarie Bank and your account. It has to come from another bank or financial institution for the transfer to be accepted.

      For your next question, yes, the balance transfer offer is still available. However, application for the Macquarie Platinum credit card is currently not available on our site. Should you wish to proceed with the application, you’ll need to visit the Macquarie Bank’s website.

      I hope this has helped.

      Cheers,
      Arra

  3. Default Gravatar
    Johno | December 27, 2015

    Does the new Macqaurie Bank Black card offer airport lounge access passes

    • Staff
      Ysa | December 28, 2015

      Hi Johno,

      Thanks for your inquiry.
      Unfortunately, the Macquarie Bank Black Card does not offer complimentary airport lounge access.
      However, you may wish to check this page to compare other credit card options with free airport lounge passes.
      I hope this helps.

      Cheers,
      Ysa

  4. Default Gravatar
    Paul | January 30, 2015

    Can I deposit money into my credit card to make payment into the card account

    • Staff
      Jonathan | January 30, 2015

      Hi Paul,

      Thanks for your inquiry!

      Deposits into the account are available by the following methods; BPAY, Cheque, Direct Debit, Phone banking, Internet banking transfers, In branch and mail.

      I hope this helps!

      Cheers,

      Jonathan

  5. Default Gravatar
    Vikram | February 5, 2012

    how to apply this credit cad

    • Staff
      Jeremy | March 9, 2012

      Hi,

      This card is currently not available for application. Thanks.

      Cheers,
      Jeremy

Credit Cards Comparison

Rates last updated December 5th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
NAB Low Rate Credit Card
The NAB Low Rate Card offers 0% p.a. on purchases and balance transfers for 15 months. This card also comes with a low annual fee.
0% p.a. for 15 months (reverts to 13.99% p.a.) 0% p.a. for 15 months with a one off 3% balance transfer fee $59 p.a. Go to site More info
HSBC Platinum Qantas Credit Card
Receive 60,000 bonus Qantas Points on eligible spend within 3 months. Enjoy access to premium benefits and complimentary insurance.
19.99% p.a. $199 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

Ask a question
feedback