There are two types of Macquarie Visa credit cards on offer, the Macquarie Black and the Macquarie Platinum card. Both cards offer a choice of rewards program and competitive points earn rates, including the ability to redeem your points for a vast array of rewards, or alternatively, to directly earn Qantas Frequent Flyer points.
Both cards come with Macquarie Personal Travel service, while the Black card throws in a range complimentary travel insurances.
|Card||Macquarie Visa Black||Macquarie Visa Platinum|
|Loyalty program||Qantas Frequent Flyer||Qantas Frequent Flyer|
|Points earned from spend||2 Macquarie Reward Points per $1 spend, 1 Qantas Point per $1 spend up to $4,000 per statement period, and 0.5 Qantas point per $1 spend thereafter||1.25 Macquarie Reward Points per $1 spend, 1 Qantas Reward Point per $1 spend up to $1,000 per statement period, and 0.5 Qantas Point per $1 spend thereafter|
|Points Cap||$4,000 per statement period then drops to 0.5 point per $ spend||$1,000 per statement period then drops to 0.5 point per $ spend thereafter|
|Travel benefits||Access to over 750 airport lounges worldwide, 24/7 Concierge Service|
(Service charges apply, excludes airport lounges in Australia)
|24/7 Concierge Service|
|Included insurances||Complimentary Overseas Travel Insurance, Purchase and extended warranty Insurance||Complimentary Overseas Travel Insurance, Purchase and extended warranty Insurance|
|Overseas transaction fee||3% of the converted amount||3% of the converted amount|
|Annual fee||$299 p.a.||$249 p.a.|
To be eligible for either Macquarie Visa card, you must meet the following criteria:
- 18 years old or over
- A permanent resident of Australia
- Have a good credit rating
- Must earn a minimum taxable income of $70,000 per annum
The Black card has an ongoing annual fee of $299, however a current promotion reduces the annual fee to $99 in the first year. You are able to get up to four additional cards, with no annual fee attached to these.
For the Platinum card, the ongoing annual fee is $249, however as with the Black card, there is a current promotion for a reduced annual fee of $99 in the first year, and up to four additional cards for no annual fee.
Choice of Rewards Program
Macquarie Visa cardholders have the option to participate in either Macquarie Rewards or Macquarie Qantas Rewards.
The Black card earns 2 Macquarie Rewards points per $1 spent, while the Platinum card earns you 1.25 Macquarie Rewards points for every $1 spent with no points cap.
The choice for redeeming your Macquarie Rewards points is broad, with points being able to be redeemed for range of rewards, including domestic and international flights, hotels, vouchers, merchandise and entertainment – however getting great value out of fixed price redemptions such as these may be tricky.
Check the Macquarie website for a full range of earning and redemption options.
Macquarie Qantas Rewards
For those cardholders looking to accumulate Qantas Frequent Flyer points, 1 Qantas point can be earned per dollar spent on either card. While there are no points capping on these cards, there are tiered points limits, varying by the type of card.
For the Black card, cardholders will earn 1 Qantas point per dollar spent up to $4,000 per statement period, dropping to 0.5 Qantas points per dollar spent above that. For the Platinum, it’s 1 Qantas point per dollar spent up to $1,000 per statement period, dropping to 0.5 Qantas points per statement above that.
An additional 1 Qantas point per dollar spent is earned for purchases on Qantas products and services. These include the following products and services purchased directly from Qantas: Qantas passenger flights (with a QF flight number), Qantas Frequent Flyer and Qantas Club membership joining and annual fees as applicable.
It however excludes Jetstar, Qantas Holidays, Qantas branded non-airfare products and Qantas products and services not purchases directly from Qantas.
Benefits of the Cards
Both the Black and Platinum cards come with Macquarie Personal Travel. This is a ‘Personal Travel agent’ for Macquarie card holders, who redeem all or part of their points for worldwide travel bookings, including flights, accommodation, car hire, tours and other travel related services. if eligible cardholders use their card to pay for bookings through this service, they earn an additional 2 bonus points per $1 spent in addition to their normal earn.
Both cards offer a number of complimentary insurances, which can include:
- Overseas Travel Insurance – includes spouse and any dependent children for a travel period of 90 days or less
- Interstate Flight Inconvenience Insurance which depending on the delay will cover meals and clothing
- Extended Warranty Insurance on purchases
To activate the overseas travel insurance, return overseas travel tickets need to be purchased using the cardholder’s eligible credit card account.
The Black card comes with additional benefits, some of these are not complimentary. The benefits that incur a charge for use include:
- Airport lounge access to over 750 lounges worldwide, however service charges apply and this will not include any Australian lounges.
- Airport Concierge, who can provide arrival and departure services. Upon arrival, the Airport Concierge will be waiting for you and will assist you in getting from your gate to your driver. On departure, all departure services through the airport will be arranged for, with the Concierge escorting you through the airport to your departure gate. This may include expedited transfer through immigration and security, depending on the airport.
Visa Entertainment comes free with the card, which allows the cardholder access to exclusive ticket pre-sales to major events, and exclusive offers on music, movies, theatre and home entertainment.
These cards come with a range of benefits, including a selection of rewards program, a 1:1 earn rate with Qantas for a Visa branded card, no points capping (albeit tiered with Macquarie Qantas Rewards), complimentary insurance program, and an array of redemption choices with Macquarie Rewards.
If you are in a position to take advantage of a majority of these benefits, then the annual fees for each respective card may be worth the cost. However, if your primary goal is to simply take advantage of the generous earn rate on offer, then it may pay to shop around for other visa cards offering the same earn rate, but at a cheaper cost, such as the Jetstar Platinum Card or the Qudos Bank Visa Platinum.
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