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Platinum Card (Macquarie Rewards)



Electronic Wallet Service

Important Rates


Balance Transfer

Overseas spending



Earn Rates

RateCard TypeEarnsCondition
1.25 points for $1 spentVisaUp to $200,000 annuallyeligible purchases
  • Free Domestic Travel Insurance Available when you use your card to pay for return domestic travel. Covers up to $3000 for the entire cost of your return flights.
  • Free International Travel Insurance Available when you use your Card to pay for return international travel
  • Free Supplementary Cards Supplementary cardholder must be over 16 years of age
  • Purchase Protection Covers up to $2,500 per item and $25,000 per year. Item must be new and unopened.
  • Extended Warranty Warranty is extended for the same duration as the original warranty up to 1 year.
  • Rental Car Excess Insurance Covers up to $5,000 per covered person or family, subject to $250 excess
  • Concierge
  • Special Events Provided through Visa entertainment and includes ticket pre-sales and exclusive offers


The Macquarie Bank Platinum card has a high late payment fee, high interest rates and a moderate number of interest-free days. The card charges a discounted annual fee in the first year, with a moderately high annual fee in the years thereafter.

This card comes with an associated reward program. The Macquarie Rewards scheme lets card holders earn Macquarie Rewards points on eligible purchases, which can then be redeemed for eGift cards from over 25 popular Australian and global vendors. The Macquarie Bank Platinum credit card earns 1.25 Macquarie Rewards points for every $1 you spend on eligible purchases.

The card also comes with three complimentary insurances: overseas travel insurance, interstate flight inconvenience insurance and extended warranty insurance. Card holders automatically gain access to Visa Entertainment for exclusive ticket pre-sales.

  • Four free additional cardholders
  • 0% balance transfer offer
  • Earns Macquarie Reward points
  • Charges an annual fee
  • High interest rates
  • No frequent flyer points

Who is it good for?

The Macquarie Bank Platinum card may suit credit card users who spend regularly on their card and are confident about paying their credit card bill in full each month.

Although this card offers 14 months’ interest-free on balance transfers, the Macquarie Bank Platinum card charges high interest rates and provides a moderate interest-free period. As such, this card may be less than ideal for card holders to struggle to clear their credit debt each month. Budget card holders should ensure they can pay their debt within the interest-free period on balance transfers.

This card is also not well suited to those in search of a no-fee credit card. The Macquarie Bank Platinum card charges a moderate fee in the first year, with a moderately high annual fee in the years thereafter.

What RateCity says

The Macquarie Bank Platinum credit card provides few exceptional benefits to customers who do not want to take advantage of the balance transfer offer. While the card offers 14 months interest-free on balance transfers, the interest rate on purchases is high. Budget card holders may struggle with the high rates after the balance transfer offer has expired.

Although this card earns Macquarie Rewards points, these points cannot be redeemed for frequent flyer points, which may deter those in search of travel benefits. Those customers looking to boost their travel status should consider a credit card with a rewards program that earns points for their preferred airline.

The annual fee for the Macquarie Bank Platinum card is discounted in the first year but reverts to a moderately high fee in the years after. Customers who want a low-cost card might want to consider one with no annual fee. 


In order to be eligible for the Macquarie Bank Platinum card, you must be at least 18 years old. Applicants must have Australian citizenship or permanent resident status, as well as have a good credit rating. You must also earn a minimum taxable income of $50,000 per year. To complete an application, you’ll need to submit evidence of your salary and monthly expenses, and give the address and phone number of your current employer.

About Macquarie Bank

Macquarie Bank is a global financial services and investment banking group that provides individuals, businesses, corporate entities and advisers with financial products and services. Founded in 1969, Macquarie Bank is headquartered in Sydney and now operates in over 25 countries across the globe. Macquarie Bank was granted their full banking licence in 1985, opening offices in London and Munich in 1989 and New York in 1994. Customers can contact Macquarie Bank online or over the phone.

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