Macquarie Black Card with Qantas Points

Information verified correct on December 9th, 2016

With 40,000 bonus Qantas points and more, concierge service, complimentary travel insurance and 0% p.a. balance transfer for 14 months, the Macquarie Black Card is for saving money while travelling in style.

The Macquarie Black Card is for travellers who want to make their money go further. Link up to 4 additional cards with no annual fee and enjoy a 0% p.a. balance transfer for 14 months to manage everyday spending.

You can also take full advantage of the bonus Qantas points and more for every dollar spent, a host of complimentary travel-oriented insurance products that come with the card, reduced fees and plenty of extras to save money while enjoying the comforts of high-end travel.

Product NameMacquarie Black Card with Qantas Rewards
Rewards ProgramQantas Frequent Flyer
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 ($299 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.
$15,000
Minimum Monthly Repayment2.5% of the total balance or $50, whichever is greater
Minimum Income$70,000
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 ApplicationYes
Minimum Income$70,000
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.
$15,000
Annual Fee$99 p.a. annual fee for the first year ($299 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, whichever is the greater
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
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 Qantas points when you apply, are approved, and meet the required spend.
  • Earn cc_product_rewards_point_per_dollar_visamc,CC_pointsPerDollarSpent@ Qantas Point for every $1 spent
  • Receive up to 4 additional cards for no extra fee.

Cons

  • There is a high revert standard annual fee of $299.
Rewards ProgramQantas Frequent Flyer
Bonus Points on Sign-up40,000
Rewards Points per $ (VISA/MC)1
Rewards Points per $ (AMEX)0
Rewards Points per $ (VISA/MC) CapUncapped
Rewards Points per $ (AMEX) Cap0
Points Expiry36 months

Benefits of the Macquarie Black Card with Qantas points

  • 40,000 bonus Qantas points. Apply and be approved for the Macquarie Black Card and receive 40,000 bonus Qantas points simply by spending $3,000 on eligible purchases within 60 days of approval.
  • Earn Qantas Points per $1 spent. Receive 1 Qantas point per dollar spent on eligible purchases, up to $4,000 per statement period.
  • Overseas Airport Lounge Access. Relax before your next flight with access to over 750 airport lounges around the world, regardless of the class of travel or airline you're flying. This offer excludes airport lounges in Australia.
  • Interest free purchases. Up to 55 days interest free purchases, provided your card balance is paid off by the due date each month.
  • Complimentary insurance. With this card you get complimentary overseas travel insurance, interstate flight inconvenience insurance, transport accident insurance, purchase security insurance and a global hire car excess waiver policy, well-suited for saving money and reducing hassle when travelling.
  • 24/7 concierge service. Get complimentary concierge services provided by Aspire Lifestyles, and get discounts of up to $100 a year for services booked through them.
  • Visa entertainment. Enjoy the Visa entertainment on offer through the Macquarie Black Card.

Features of the Macquarie Black Card with Qantas points

  • Annual fees. The Macquarie Black Card carries an annual fee of $99 in the first year, and $299 in subsequent years.
  • Pre and post balance transfer rates. Get 0% p.a. balance transfer interest rates for the first 14 months following account approval. From there it reverts to the standard rate, currently at 20.7% p.a.
  • Interest free days. You are eligible for up to 55 interest free days on purchases if your card balance is paid off.
  • Additional cardholders. Link up to 4 additional cards without any annual fees.
  • Rewards. Get 40,000 Qantas bonus points for spending $3,000 on the card within 60 days of approval, and earn 1 Qantas Point per dollar spent on eligible purchases.
  • Free Qantas Frequent Flyer membership. Macquarie Black cardholders who aren’t yet members of the Qantas Frequent Flyer program can join for free through Macquarie bank. You can apply for free membership once you have applied for the Macquarie Black Card.
  • Complimentary extras. This card comes with travel-oriented insurance extras that a lot of people can make use of overseas, as well as a variety of lifestyle oriented extras and discounts.

How to apply for a Macquarie Black Card with Qantas Points

If you’ve compared options and are interested in the Macquarie Black Card with Qantas Points, click Go to Site to visit Macquarie Bank’s secure application page.

Eligibility criteria

To apply, you must meet the following criteria:

  • Applicants must be at least 18 years old to apply.
  • Only permanent residents of Australia can apply.
  • You’ll need to have a good credit history to receive approval.
  • You must earn a minimum taxable income of $70,000 p.a.

Required documents

  • You’ll need to provide your Australian driver’s licence number.
  • You’ll be asked to provide your gross annual salary and monthly expenses.
  • Make sure to have your current employer’s contact details (address and phone number) ready. If you’re self-employed or retired, you’ll need to provide your accountant’s details.

The Macquarie Black card can be an effective way of making your money go further, enjoying more frequent trips and getting at a range of value-adds, but a lot of the benefits are specially focused on travellers, and not everyone will get the same advantages from this card. If you want to fly Qantas to more destinations more often, and enjoy the finer things in life while remaining a prudent spender at heart, then this may be the rewards card for you.

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