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Our verdict

Offers no foreign transaction fees, complimentary travel insurance and a 24/7 concierge service, with a $99 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 earn a competitive 1.25 points per $1 spent on eligible purchases, 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.	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	1.25
Rewards points cap	200,000

Fees

Annual fee	$99
Minimum monthly repayment	2.5% of the closing balance or $50, whichever is greater
Late payment fee	$20
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 1.25 points per $1 on eligible purchases for spending of up to $200,000 per year. 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 $99 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.

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Amy Finder

Editor

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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

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Leo

September 20, 2016

Am I able to balance transfer from a card not under my name? I also used to have a jetstar card from last year is the balance transfer offer still available to me?

Arra Salas Finder

September 20, 2016

Hi Leo,

Thanks for your inquiry.

To answer your first question, balance transfer between two people’s names is allowed by Macquarie Bank according to our balance transfer criteria guide.

However, please take note that balance transfer is not possible between any account issued by Macquarie Bank and your account. It has to come from another bank or financial institution for the transfer to be accepted.

For your next question, yes, the balance transfer offer is still available. However, the application for the Macquarie Platinum credit card is currently not available on our site. Should you wish to proceed with the application, you’ll need to visit the Macquarie Bank’s website.

I hope this has helped.

Cheers,

Arra

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Johno

December 27, 2015

Does the new Macqaurie Bank Black card offer airport lounge access passes

Ysa Finder

December 28, 2015

Hi Johno,

Thanks for your inquiry.

The Macquarie Bank Black Card does not offer complimentary airport lounge access.

We have a range of credit cards with free airport lounge access to compare. You can press the “Go to site” button of your preferred credit card to proceed with your application. You can also contact the provider if you have specific inquiries.

A gentle reminder, please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before you apply for the credit card.

I hope this helps.

Cheers,

Ysa

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Paul

January 30, 2015

Can I deposit money into my credit card to make payment into the card account

Jonathan Finder

January 30, 2015

Hi Paul,

Thanks for your inquiry!

Deposits into the account are available by the following methods; BPAY, Cheque, Direct Debit, Phone banking, Internet banking transfers, In branch and mail.

I hope this helps!

Cheers,

Jonathan

Vikram R

February 05, 2012

how to apply this credit cad

Jeremy Finder

March 08, 2012

Hi,

This card is currently not available for application. Thanks.

Cheers,

Jeremy

Macquarie Platinum Credit Card

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