Macquarie Credit Union Visa Credit Card – Rates & Fees

Pay a low introductory rate on balance transfers for the first 6 months and get up to 55 interest-free days on purchases.

The Macquarie Credit Union Visa Credit Card is a no-frills card that charges a low introductory rate on balance transfers for the first 6 months. You can get up to 55 interest-free days on all purchases, and you can get an additional card for free.

Product NameMacquarie Credit Union Visa Credit Card
Balance transfer rate (p.a.)6.95% p.a. for 6 months
Purchase rate (p.a.)6.95% p.a. for 6 months (reverts to 13.54% p.a.)
Annual fee$15 p.a.
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.)6.95% p.a. for 6 months (reverts to 13.54% 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.
$1,000
Max credit limit
This credit limit may not be issued to you immediately upon application. This is the maximum credit limit available on this card and you can apply for increases after the account has been opened.
$10,000
Card TypeVisa
Complimentary Travel InsuranceNo
Minimum Age18 years of age
Available To Temporary ResidentsNo
Joint ApplicationYes
Annual fee$15 p.a.
Minimum Monthly Repayment$20 or 5% of the outstanding balance, whichever is greater
Late Payment Fee$0
Gambling Transactions AllowedNo
Additional Cardholder Fee$0
Number of Additional Cardholders3

Macquarie Credit Union Visa Credit Card review

Anyone looking for a basic low rate credit card should take a look at what Macquarie Credit Union has to offer. For the first 6 months you'll be charged an introductory rate of 6.95% p.a. on balance transfers. What also helps is that you don’t have to pay the account’s closing balance in full every month to take advantage of the interest-free days on purchases.

Benefits of the Macquarie Credit Union Visa Credit Card

  • Balance transfer offer. You can make use of this card’s introductory rate of 6.95% p.a. on balance transfers for the first 6 months to pay down debt from existing cards that charge higher interest. This can lead to considerable savings.
  • Low ongoing rate. A competitive standard rate of 13.54% p.a. applies to purchases and cash advances, and this same rate applies to any outstanding balance transfer amount at the end of the introductory period.
  • Easy access to funds. You can use your Macquarie Credit Union Visa card at any ATM or EFTPOS terminal that displays the Visa logo, in Australia and elsewhere in the world. If you’re looking for a credit card to make purchases and pay bills online or over the phone, this card will serve you well.

Macquarie Credit Union Visa Credit Card features

  • Annual fee. Every year you hold this card account, you'll need to pay a fee of $15.
  • Balance transfer offer. An introductory rate of 6.95% p.a. is in place for balance transfers, and this rate stays in effect for the first 6 months.
  • Interest-free days. While most credit cards require you to pay your account’s closing balance in full every month to take advantage of interest-free days, this is not the case with the Macquarie Credit Union Visa card. This card offers up to 55 interest-free days on all purchases, your account’s closing balance notwithstanding.
  • Credit limit. The minimum credit limit on this card is $1,000, and the maximum available limit is $10,000. The limit assigned to your card takes into account your ability to make repayments.
  • Additional cards. You can get up to 3 additional cards for individuals who satisfy the 100-point check identification criteria, and are at least 16 years of age. You don’t have to pay any additional card fees.
  • Repayment options. Your options when it comes to making repayments include visiting the Macquarie Credit Union head office, via Bank@Post, through online or phone banking, via payroll deduction, or by direct debits from your transaction or savings account.
  • Dynamic Sweep Facility. This facility allows you to access a different Macquarie Credit Union accounts using this card.
  • Verified by Visa. This online security program is in place to monitor online card activity, and if it detects suspicious activity it asks for certain personal details to complete the given transaction.

How to apply for the Macquarie Credit Union Visa Credit Card

You can visit the Macquarie Credit Union branch to apply, you can apply over the phone, or you can apply online.

Eligibility criteria

Before you proceed, check if you meet the following application criteria:

  • You’re a permanent resident of Australia.
  • You’re over 18 years of age.

Required documents

The application requires that you provide different types of information, so prepare to part with the following:

  • Your name, contact information, and address are all required.
  • Your employment status, occupation, employer's name and contact details.
  • You'll need to list any bankruptcies or judgments you've had listed against you and you'll also need to list your wages and details of your other income.

While the Macquarie Credit Union Visa Credit Card is a good card to consider, there are a number of similar cards out there, so it’s worthwhile to compare a few before applying.

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Credit Cards Comparison

Rates last updated November 15th, 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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