0% p.a. balance transfer for 14 months
No international transaction fees
Some Travel and Purchase insurances included
Need to spend ~$3,200 to receive a $20 gift card
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|Category||Credit Cards, Frequent Flyer & Travel Credit Cards, Balance Transfer Credit Cards and Rewards Credit Cards||Frequent Flyer & Travel Credit Cards, Balance Transfer Credit Cards and Rewards Credit Cards|
|Benefits||Complimentary Travel Insurance, No Foreign Transaction Fee, Reduced First Year Annual Fee and Sign-Up Bonus Points Offer||Complimentary Travel Insurance, No Foreign Transaction Fee and Sign-Up Bonus Points Offer|
|Minimum Credit Limit||$6,000||$6,000|
|Additional Cardholder Fee||$0 p.a.||$0 p.a.|
|Rewards Program||Qantas Frequent Flyer||Macquarie Rewards|
|Points Earn Rate||1 points per $1||1.25 points per $1|
Points are capped at $200,000 of eligible spend annally.
Points are capped at $200,000 of spend annually.
|Contactless Payments||Apple Pay, Fitbit Pay, Garmin Pay and Google Pay||Apple Pay, Fitbit Pay, Garmin Pay and Google Pay|
|Rates & Fees|
|Purchase Rate||20.70% p.a.||20.70% p.a.|
|Late Payment Fee||$35||$35|
|Annual Fee||$249 p.a.||$99 p.a.|
|Foreign Transaction Fee||0%||0%|
|Overseas ATM Withdrawal Fee||$5||$5|
|Interest Free Period||55 days||55 days|
|Cash Advance Rate||20.70% p.a.||20.70% p.a.|
Receive 20,000 bonus Qantas Points when you spend $2,000 on eligible purchases within 60 days of approval.
Receive 20,000 Macquarie Reward points when you spend $2,000 on eligible purchases within 60 days of approval.
|Reduced First Year Annual Fee||$99||$99|
|Balance Transfer Rates|
|Balance Transfer Period||14 months||14 months|
|Balance Transfer Rate||0% p.a.||0% p.a.|
|Release date||Oct 2008|
This credit card came with our mortgage. As we were moving from a different bank and had other credit cards, they gave us a relatively low credit limit. It was part of a package which included an offset account, a discounted interest rate and the credit card: the idea being to use the credit card for all day to day purchases while keeping a high balance in the offset account. This sounds a good idea in theory, but the credit limit they gave us was so small that this proved impossible. We fully intended to cancel the other credit card,...upgrade the credit limit and keep solely to the Macquarie card, but..... It seems that to upgrade your credit card with Macquarie, you need to fill in a (paper) form and provide evidence (Payslips - who gets those any more?) of your income and proof of identity. You then need to go to the post office and physically mail this to Macquarie. Come on, Macquarie: we have a Mortgage with you that we are WAY ahead on, my husband works for you, and our salaries are directly deposited into our bank account with you. Do you really need this? Couldn't it be done online? Our other bank upgrades our credit limit automatically. If we want to upgrade it out of sync with their offers, we apply through online banking. It is done quickly and efficiently. There is no need to mess around with forms and evidence. Consequently, we have given up on this idea and use our old credit card instead.
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