The Macquarie RateSaver Card can be added to digital wallets including Apple Pay and Google Pay and offers worldwide acceptance through the Visa card network. You can also get up to 55 days interest-free on purchases if you pay off the closing balance in full by the due date on your statement.
Macquarie RateSaver Card
- Purchase rate
- 15.95% p.a.
- Annual fee
- $69 p.a.
- Interest-free on purchases
- Up to 55 days
As the name suggests, the Macquarie RateSaver is designed to give you low-cost access to credit. If you’re making new purchases, the 0% foreign transaction fees on this card could help you save on costs when you’re overseas or shopping online with retailers that are based overseas. Meanwhile, the 15.95% p.a. interest rate is lower than some cards on the market – but not as competitive as some other low rate cards.
Low interest rate of 15.95% p.a. on purchases
0% international transaction fees on purchases
Up to 55 days interest-free on purchases
No rewards program linked to this card
|Product Name||Macquarie RateSaver Card|
|Purchase rate p.a.||15.95%|
|Interest-free period||Up to 55 days on purchases|
|Cash advance rate p.a.||15.95%|
|Min credit limit||$2,000|
|Available to temporary residents||No|
|Minimum monthly repayment||2% 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|
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.
- Minimum income. You must earn a minimum taxable income of $50,000 per year.
- Residency. You must be an Australian citizen or permanent resident.
- Age. You must be at least 18 years old to apply.
- Credit rating. You must have a good credit rating.
- Personal details. This includes your full name, date of birth, email address, phone number, residential address, marital status and number of dependents. You also need to provide a valid form of ID, such as your driver's licence number.
- Employment details. As well as your pre-tax annual salary, you need to provide details such as your job title, length of employment and your employer's contact details. If you're self-employed or retired, you need to include your accountant's contact details.
- Financial details. This includes your monthly expenses, such as rent or mortgage payments, utility bills, transport and grocery costs. You also need to provide details about any existing debts or liabilities, as well as any savings or other assets.
- No foreign transaction fees. The Macquarie RateSaver offers a 0% foreign transaction fee when you use your card overseas or online with a retailer that's based overseas. This can help you save on costs compared to cards that charge fees for currency conversion.
- Low interest rates. This card has a variable rate of 15.95% p.a. that will apply to your purchases when you're not eligible for interest-free days. If you use this card to withdraw cash or make any other cash advance transactions, the same interest rate will apply from the date of the transaction. Note that cash advances are not eligible for interest-free days.
- 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.
- Visa Offers + Perks. Visit the Visa Australia website to get access to exclusive retail, travel, dining and entertainment offers around the world.
- Security features. This card offers 24/7 account monitoring and support services, as well as a zero liability policy to help protect you against fraudulent transactions.
Rates & fees
- Annual fee. This card has an annual fee of $69 p.a. for the primary cardholder, which is charged when the account is first opened and then each year around the anniversary of that date.
- Additional cardholders. Add your partner or a loved one to this account for a $0 annual fee per additional card. Note that you will still be responsible for keeping the account in good standing.
- Interest-free days. If you pay off the closing balance in full by the due date on your statement, you can get up to 55 days interest-free on purchases.
- Cash advances. A fee of $5 or 3% of the value of the transaction applies for cash advances.
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January 13, 2016
Can I transfer the balance from my husband’s Westpac credit card (Which I am an additional card holder) to the Visa RateSaver Credit Card?
January 13, 2016
Thanks for your inquiry!
Transferring a balance between two separate primary cardholder names is not eligible even if
you are applying as a current additional cardholder. Your husband may like to compare more balance transfer credit cards
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.
I hope this helps.
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August 07, 2013
we have 3 home loans with macquarie and we have 3 credit cards totalling 15,000 is there any way we can transfer all our cards over to u
August 08, 2013
Thanks for your comment.
Please contact Macquarie directly as they can assess you against their lending criteria.
November 08, 2011
Would a dual pension
be excepted ?
Balance transfer of $10.000
November 09, 2011
I would suggest speaking to BoQ Customer Service to see if they can assist.