Our verdict

Offers no foreign transaction fees, complimentary travel insurance and a 24/7 concierge service, with a $149 p.a. annual fee.

Complimentary overseas travel insurance, interstate flight inconvenience insurance and a concierge service are among the perks you can get with a Macquarie Platinum credit card. You also 1 Macquarie Reward point per $1 spent on eligible purchases up to $5,000, then 0.5 points per $1 spent above $5,000 per statement period, with the option of redeeming them for either eGift cards or cashback through Macquarie Rewards.

Unfortunately, you can only see the redemption values for these rewards when you log in to your Macquarie account – meaning it’s difficult to compare the values to those of other credit card reward programs.

Pros

0% international transaction fees
Up to 55 days interest-free on purchases
Up to 4 additional cardholders at no extra cost

Cons

Relatively high purchase rate of 20.7% p.a.

The Macquarie Platinum Credit Card offers up to 55 days interest-free on purchases if you repay the total amount listed on your statement by the due date. Otherwise, a 20.7% p.a. interest rate applies to purchases.

Details

Product details

Product Name	Macquarie Platinum Card
Purchase rate p.a.	Purchase rate p.a. 20.7%
Interest-free period	Up to 55 days on purchases
Cash advance rate p.a.	20.7%
Min credit limit	$6,000
Card type	Visa

Eligibility

Available to temporary residents	No
Minimum income	$50,000
Joint application	No

Rewards

Rewards program	Macquarie Credit Card Rewards Program
Bonus points	N/A
Rewards points per $ spent	1
Rewards points cap	Uncapped

Fees

Annual fee	Annual fee $149
Minimum monthly repayment	2.5% of the closing balance or $50, whichever is greater
Late payment fee	$20
Foreign currency conversion fee	Foreign currency conversion fee 0%
Cash advance fee	3% or $5, whichever is greater
Additional cardholder fee	$0
Number of additional cardholders	4

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.

Eligibility criteria

Minimum income. You must have a taxable income of at least $50,000 p.a.
Residency. You must be an Australian citizen or permanent resident.

Credit rating. You must have a good credit rating.
Age. You must be at least 18 years old to apply.

Required documents

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. This includes your salary, job title, length of employment, your employer's contact details. You may also need to provide supporting documentation, such as recent payslips.
Financial details. As well as any other forms of income, you need to provide details of your assets, such as savings, as well as existing credit cards, loans and other debts. You also need to give an estimate of your share of regular household expenses, including rent or mortgage payments, utility bills and groceries.

Card benefits

0% foreign transaction fees. The Macquarie Platinum credit card can save you money with 0% foreign transaction fees on overseas and online purchases made in a foreign currency.
Macquarie Rewards program. This card offers 1 point per $1 on eligible purchases up to $5,000 per statement period. You'll then earn 0.5 points per $1 spent for spending above $5,000. Eligible transactions cover most everyday transactions including groceries, petrol, dining, travel bookings and retail purchases. Transactions that don't earn points include cash advances and BPAY payments. The Macquarie Reward points you earn can be redeemed for eGift cards or cashback via the Macquarie Mobile Banking app or Macquarie online.

Complimentary overseas travel insurance. Get access to comprehensive overseas travel insurance for you, your spouse and any eligible dependents travelling with you when you pay for your return travel tickets with the Macquarie Platinum and/or through Macquarie Reward redemptions. You'll also be eligible for complimentary transit accident insurance on overseas trips when you meet these requirements.
Complimentary interstate flight inconvenience insurance. This card offers complimentary cover for domestic flight cancellations when you use it to book eligible return flights.
Complimentary insurance for purchases. Eligible purchases made with this card get up to 90 days cover against theft, loss or damage. You can also get buyer's advantage cover for up to 12 months on eligible items.
24/7 concierge service. Get professional assistance with a range of tasks, such as making restaurant reservations, travel planning or even finding the perfect gift for a loved one.
Security. This account offers 24/7 security monitoring and Visa's Zero Liability policy for fraudulent transactions.
Visa Offers + Perks. Get access to exclusive travel, shopping, dining and entertainment offers around the world by visiting the Visa Australia website.
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.

Rates & fees

Annual fee. This card charges an annual fee of $149 p.a.
Purchase rate. The 20.7% p.a. interest rate on this card is similar to the purchase rates of other rewards cards.

Interest-free days. Receive up to 55 interest-free days on purchases when you repay your balance in full by the due date on your statement.
Cash advances. If you use this card to make cash advance transactions, an interest rate of 20.7% p.a. will apply from the date of the transaction. A cash advance fee of $5 or 3% of the value of the transaction (whichever is greater) also applies to each cash advance you make.
Additional cardholders. You can add up to 4 additional cards at no extra cost.

Sources

Your reviews

No reviews yet. Write a review

Ask a question

To ask a question simply log in via your email or create an account.

Ask a question

Amy Finder

Editor

Hi there, looking for more information? Ask us 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

Accept and continue

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms Of Service and Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Privacy Policy and Terms of Service apply.

Claire

September 12, 2024

Does a Macquarie prepaid travel card allow cash withdrawals in Vietnam currency when I travel there ?

Angus Kidman Finder

September 15, 2024

Hi Claire, Macquarie doesn’t have a prepaid travel card that I’m aware of. However, the Macquarie transaction account does allow withdrawals from ATMs overseas and Macquarie doesn’t charge any ATM fees if you do that (though the ATM operator itself might charge a fee). If you used the Macquarie Platinum Card to withdraw cash, you also wouldn’t be charged fees, but interest at the cash advance rate would be charged immediately. So the transaction account is likely to be a better choice if you’re trying to control your travel spending, and it’s also easier to apply for.

Show more Show less

shukhuanlim

August 31, 2024

where can I get details info about travel insurance eg, lost of baggage , flight cancel etc

Angus Kidman Finder

September 15, 2024

There’s a detailed description of the insurance inclusions for this card in this PDF.

shuk

August 26, 2024

I have a Macq platinum credit card & I paid my air fare with it. I like to know the details of this insurance, can you send info to me ASAP. Thanks

Richard Whitten Finder

September 17, 2024

Hey Shuk,

You can find the info at the bottom of this page in a PDF https://www.macquarie.com.au/help/personal/international-and-travel/travelling-overseas/credit-card-travel-insurance.html

Show more Show less

Sandra Joyce

May 29, 2024

Hi, I have a platinum credit card with Macquarie bank. Does it cover me for overseas travel insurance?

Thanks

Sandra Joyce

Sarah Megginson Finder

May 30, 2024

Hi Sandra,

Yes, this card comes with complimentary overseas travel insurance. You’ll get access to comprehensive overseas travel insurance for you, your spouse and any eligible dependents travelling with you when you pay for your return travel tickets with the Macquarie Platinum and/or through Macquarie Reward redemptions. You’ll also be eligible for complimentary transit accident insurance on overseas trips when you meet these requirements.

Hope this helps!

Show more Show less

Mark

October 25, 2016

Is there a cap on points per month or year? Which airlines can points be transferred to? How many visits to airport lounges per year and which lounge is available for use?

Anndy Lou Finder

October 27, 2016

Hi Mark,

Thanks for your questions.

For Macquarie Platinum Card, there is a yearly cap of 250,000 rewards points.

Unfortunately, the Macquarie Platinum Card does not offer complimentary airport lounge access. The points also can’t be transferred to any frequent flyer program.

Cheers,

Anndy

Show more Show less

Macquarie Platinum Credit Card

Pros

Cons

How to apply

Eligibility criteria

Required documents

Card benefits

Rates & fees

Your reviews

Important information about this website

Advertiser disclosure

How we make money

Sorting and ranking products

Terms of service and privacy policy