Macquarie Platinum Card – Details & Application

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 card approval. You can redeem these points from an extensive range of rewards. 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 is the maximum number of days during which interest is not charged on new purchases. This only applies if you pay your closing balance in full by the statement due date.
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
Card TypeVisa
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
Minimum Income$50,000
Minimum Age18 years of age
Available To Temporary ResidentsNo
Joint ApplicationNo
Annual fee$99 p.a. annual fee for the first year ($199 p.a. thereafter)
Minimum Monthly Repayment2.5% of the total balance or $50, whichever is greater
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
Cash Advance Fee$5 or 3% of the value of the transaction
Gambling Transactions AllowedNo
Additional Cardholder Fee$0
Number of Additional Cardholders4

Pros

  • Receive 40,000 bonus Macquarie Reward points when you spend $2,000 within 60 days of card approval.
  • 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 request 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 Points40,000 bonus points
Rewards Points per $ spent (VISA/MC)1.25
Rewards Points per $ (VISA/MC) Cap250,000

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 can be redeemed from an extensive range of rewards. Plus if you spend $2,000 within the first 60 days of card 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.
  • 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 Google 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.
  • 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.
  • Additional cardholder. You can receive up to 4 additional cards at 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.

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.

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10 Responses

  1. Default Gravatar
    MarkOctober 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?

    • finder Customer Care
      LouOctober 27, 2016Staff

      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?

    • finder Customer Care
      ArraSeptember 20, 2016Staff

      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
    JohnoDecember 27, 2015

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

    • finder Customer Care
      YsaDecember 28, 2015Staff

      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
    PaulJanuary 30, 2015

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

    • finder Customer Care
      JonathanJanuary 30, 2015Staff

      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
    VikramFebruary 5, 2012

    how to apply this credit cad

    • finder Customer Care
      JeremyMarch 9, 2012Staff

      Hi,

      This card is currently not available for application. Thanks.

      Cheers,
      Jeremy

Credit Cards Comparison

Rates last updated November 16th, 2018
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
NAB Low Fee Platinum Card - Exclusive Offer
19.74% p.a.
0% p.a. for 25 months
$90 p.a.
finder Exclusive: Take advantage of 0% p.a. interest for 25 months on balance transfers with no balance transfer fee.
Citi Platinum Credit Card - Exclusive Offer
0% p.a. for 13 months (reverts to 20.99% p.a.)
0% p.a. for 13 months
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
finder Exclusive:
Save with 0% interest on purchases and balance transfers for 13 months (with no BT fee). Plus, a discounted $49 annual fee for the first year.
Virgin Australia Velocity Flyer Card - Exclusive Offer
0% p.a. for 14 months (reverts to 20.74% p.a.)
0% p.a. for 6 months
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
finder Exclusive: Save on credit card costs with half the annual fee for the first year and a 0% p.a. interest rate on purchases for 14 months.
American Express Westpac Altitude Platinum Bundle - Qantas - Exclusive Offer
20.24% p.a.
$50 p.a. annual fee for the first year ($249 p.a. thereafter)
finder Exclusive:
Up to 90,000 bonus Qantas Points when you meet the criteria with this dual Visa (issued & serviced by Westpac) & Amex (issued & serviced by Amex).

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* 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.

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