The Mac MyCard Platinum Rewards Mastercard

Earn 1 reward point for every dollar spent, 20,000 bonus points when you meet the required spend, and pay 0% p.a. interest on balance transfers for 14 months.

The Mac MyCard Platinum Rewards Mastercard rewards you for your ongoing spending, with 1 reward point for every dollar you spend on eligible purchases, and you get various options to redeem your points. The amount of options means you're likely to find real value in your rewards. You get to earn 20,000 bonus sign up points if you spend $3,000 within the first 3 months of your card membership. Not to mention that this card also charges 0% p.a. interest on balance transfers for the first 14 months, giving you a way to save while you're being rewarded. With this card you'll also have access to a 24/7 platinum concierge service, and it comes with complimentary insurance covers.

Product NameThe Mac MyCard Platinum Rewards MasterCard
Rewards ProgramCard Services 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.
Cash Advance Rate (21.74% p.a.)
Balance Transfer Limit80% of available credit limit
Purchase rate (p.a.)20.24% p.a.
Offer end date31 January 2018
Annual fee$99 p.a. annual fee for the first year ($129 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.)21.74% 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% or $30 whichever is greater
Minimum Income$35,000
Card TypeMastercard
Late Payment Fee$10
Foreign Currency Conversion Fee (MC)
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.
3.4% of transaction value
Complimentary Travel InsuranceYes
Available To Temporary ResidentsNo
Minimum Income$35,000
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 ($129 p.a. thereafter)
Minimum Repayment2% or $30 whichever is greater
Late Payment Fee$10
Over Limit Fee$0
Cash Advance Fee$3.50 (or 3.50% of amount when >= $100) for each cash advance
Overseas Cash Advance Fee$5
Foreign Currency Conversion Fee (MC)
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.
3.4% of transaction value
Additional Cardholder Fee$0 p.a.
Number of Additional Cardholders4
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
MailYes
Rewards ProgramCard Services Rewards Program
Bonus Points on Sign-up20,000
Rewards Points per $ (VISA/MC)1
Points ExpiryNever

The Mac MyCard Platinum Rewards Mastercard Review

Using this card can lead to significant savings within the first 14 months, given its 0% p.a. introductory rate for 14 months that applies on balance transfers. Cardholders get free enrolment to the Card Services Rewards Program, and the insurance covers are also free.

Benefits of The Mac MyCard Platinum Rewards Mastercard

  • Balance transfer introductory interest rate. You can use this card’s 0% p.a. introductory rate to transfer balances from existing cards and you don’t have to pay any interest on transferred balances for 14 months.
  • Rewards. The Card Services Rewards Program gives you multiple ways to redeem your reward points. You can transfer your reward points to a frequent flyer program, you can book flight tickets through Take Flight, you can use your points in the form of cashback, or you can redeem them for store and travel vouchers.
  • Platinum concierge service. A around-the-clock multilingual concierge service can provide assistance in various ways. Book flight tickets, make hotel reservations, book tables at restaurants, book tickets for different kinds of events, select and deliver gifts, translate documents and more.
  • Complimentary insurance covers. All Platinum cardholders receive a comprehensive insurance package, which provides protection through a guaranteed pricing scheme, purchase cover insurance, interstate flight inconvenience insurance, international travel insurance, and transit accident insurance.

The Mac MyCard Platinum Rewards Mastercard Features

  • Annual fee. A $129 annual fee is being charged on the card.
  • Bonus points. Get the chance to earn 20,000 when you spend $3,000 within the first 3 months of card approval. Offer ends on 31 January 2018.
  • Rewards program. Every dollar you spend on eligible purchases earns 1 reward point.
  • Interest-free days. If you pay your account’s closing balance in full for two months in a row, you can get up to 55 interest-free days on purchases.
  • Platinum concierge service. This round-the-clock service can provide assistance in fields as varied as entertainment, dining, travel, and business.
  • Additional cardholders. Additional cards linked to your Platinum Rewards Mastercard earn reward points, and you can get up to 4 additional cards. Individuals you nominate as additional cardholders should be at least 16 years of age.
  • Card security. Fraudshield is in place to prevent fraudulent use of your card, and you'll be contacted immediately upon detecting any unusual transaction. In the online world, SecureCode provides an additional line of defence.

How to apply for The Mac MyCard Platinum Rewards Mastercard

You can apply by visiting any Mac branch, you can get started over the phone, and you can also download an application, complete it on your own, and send it over by fax or mail.

Eligibility criteria

Applying for the card requires that you meet certain eligibility criteria, which are as follows:

  • Minimum of 18 years old
  • Permanent Australian resident
  • Minimum income of $35,000
  • Good credit history

Required documents

In order to complete the application successfully, you have to provide different kinds of information, which comprises the following:

  • Personal details such as your complete name, date of birth, driver’s license number and marital status
  • Your employment status, time spent with current employer, employer’s name, and employer’s contact details
  • Information surrounding your monthly financial position, which includes details about your income and expenses

Applying for this card can make sense if you’re looking forward to earning rewards and paying no interest on balance transfers for the first 14 months of holding the card. Bear in mind, though, that you can find similar features in other cards, so compare a few before applying.

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