Macquarie Platinum Card with Qantas Rewards – Rates & Fees

Information verified correct on December 9th, 2016

Receive 40,000 bonus Qantas Points and earn up to 2,500 Qantas Points per month with 1 Qantas Point per $1 spent on eligible purchases. Also receive 0% p.a. on balance transfers for 14 months.

The Macquarie Platinum Card with Qantas Rewards gives you the ability to earn rewards in accordance to how much you spend, and it charges an introductory 0% p.a. balance transfer rate for 14 months. This card comes with a number of complimentary travel and purchase insurance covers, provides cardholders round-the-clock access to a concierge service, and you stand to get as many as 55 interest-free days on purchases.

Product NameMacquarie Platinum 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 ($249 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% 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
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 ($249 p.a. thereafter)
Minimum Repayment2.5% 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
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 a balance transfer rate of 0% p.a. for 14 months from credit card approval.

Cons

  • Purchase rate will apply for the remaining balances after the promotional balance transfer rate expires.
Rewards ProgramQantas Frequent Flyer
Bonus Points on Sign-up40,000
Rewards Points per $ (VISA/MC)1
Rewards Points per $ (VISA/MC) Cap2,500
Points ExpiryNever

Macquarie Platinum Card with Qantas Rewards review

If you’re looking for a credit card that comes linked to the Qantas Frequent Flyer Program while also offering a promotional rate on balance transfers, this platinum card provided by Macquarie requires your attention. What also helps is that you can access a concierge service at any time of the day or night, and that you can make use of various complimentary insurance covers.

Benefits of the Macquarie Platinum Card with Qantas Rewards

      • Balance transfer offer. Upon the opening your credit card account you get the ability to use this card to transfer balances from existing cards and save, owing to this card’s 0% p.a. introductory balance transfer rate that stays in place for 14 months from the date of the card’s approval.
    • More Qantas Points. Enjoy 40,000 bonus Qantas Points when you are approved for a Macquarie Platinum Card with Qantas Rewards and spend $2,000 within 60 days of card approval. Earn 1 Qantas Point per $1 spent on eligible purchases up to $2,500 spend per statement period, and 0.5 Qantas Points per $1 spent when you've reached the points cap for the remainder of the statement period. You can redeem your Qantas Points for flight rewards, flight upgrades, as well as a variety of merchandise through the online Qantas Store.
  • Free Qantas Frequent Flyer membership. Complimentary membership is available for Macquarie Platinum and Macquarie Black cardholders who are not already members of the Qantas Frequent Flyer Program. You can apply for membership once you have received your Macquarie Platinum or Macquarie Black card at qantas.com/joinffmacquarie.
  • Complimentary insurance covers. As a Macquarie Platinum cardholder, you get a range of complimentary insurance covers. When you make purchases using this card they receive cover through purchase security insurance and extended warranty insurance. If you use this card to pay for travel, you get cover through interstate flight inconvenience insurance, overseas travel insurance, and transport accident insurance.
  • Concierge service. Access to the Visa Concierge service is free for platinum cardholders, and you can use this service to book flight tickets, get tickets to different kinds of events, look for a local business, organise gifts, and more.
  • Android Pay. Tap and pay with Android Pay on your Macquarie credit card. When you're ready to pay, all you need to do is wake up your phone and place it near the contactless terminal.

Macquarie Platinum Card with Qantas Rewards features

  • Annual fee. Receive a reduced first year primary cardholder annual fee of $99, then $249 every year after.
  • Balance transfer offer. This card charges no interest on transferred balances for the first 14 months, and this can lead to significant savings in a relatively short period.
  • Rewards. When you use this card to make eligible purchases, you earn Qantas Points that credit to your Qantas Frequent Flyer Program account. You can earn a maximum of 200,000 Qantas Points from spending per year.
  • Interest-free days. You have to pay the account’s closing balance in full every month to avail of up to 55 interest-free days on purchases.
  • Complimentary insurances. You get complimentary travel insurances when you use this card to book travel tickets, and products bought using this card receive complimentary purchase covers.
  • Concierge service. This global 24/7 concierge service can provide assistance in spheres like dining, entertainment, business, and travel.
  • Additional cards. You can get up to 4 additional cards for family members and friends, and you don't have to worry about paying any additional card fee.
  • Advanced security. Enjoy peace of mind with protection against criminal activity from Visa's Zero Liability policy. Also make online purchases safely with 24/7 online account monitoring, providing advanced fraud protection.

How to apply for the Macquarie Platinum Card with Qantas Rewards

You can apply online or you can speak to a Macquarie credit card specialist over the phone. To apply online, simply click on the ‘Go to Site’ button.

Eligibility criteria

  • You’re at least 18 years of age.
  • You’re a permanent Australian resident.
  • Your annual taxable income is at least $50,000 p.a.
  • You don’t have poor credit history.

Required documents

  • Personal details like your date of birth, driver’s license number, and number of dependents
  • Your employer’s phone number and address
  • Your gross annual salary and monthly expenses
  • You accountant’s contact details, if you’re retired or self-employed

While this credit card enables you to earn Qantas Points and comes with a balance transfer offer, so do some other cards, so take some time to compare a few similar ones before applying.

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.

2 Responses to Macquarie Platinum Card with Qantas Rewards – Rates & Fees

  1. Default Gravatar
    Donn | June 12, 2015

    I am trying to obtain your terms and conditions related to fees & charges applicable for cash advances on Macquarie Visa cards.

    • Staff
      Jonathan | June 15, 2015

      Hi Donn, thanks for your inquiry!

      Please refer to the PDF I have sent to your email for the Macquarie Bank Credit Cards conditions of use.

      Cheers,

      Jonathan

Credit Cards Comparison

Rates last updated December 9th, 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