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Macquarie Credit Card up to 40,000 Qantas FF Points, $99 Fee, Travel Insurance

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Macquarie Credit Card up to 40,000 Qantas FF Points, $99 Fee, Travel Insurance
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LPacolito on 24/10/2013 - 15:33 macquarie.com.au (3149 clicks)
Last edited 24/10/2013 - 15:52 by 2 other users

First post, aww yeah. Not sure if it's kosher to post credit cards and thereby encourage the reckless accumulation of unsustainable levels of personal debt but here goes.

40,000 QFF points on offer with the Macquarie Bank platinum credit card. (20,000 upon first purchase, another 20,000 if you spend $5k by Feb 2014)

I recently signed up for an HSBC card simply for the 35,000 QFF points on offer. That card involved a $199 annual fee.

This card from Macquarie offers 40,000 and a half price annual fee for the first year of $99. You also get free travel insurance etc as it is a Platinum card.

Together with the HSBC offer, that's enough for a one way ticket to Europe (preferably aboard an Emirates!) with points left over.

Anyway, just thought I'd mention.

Hopefully, this will be my Ozbargain cherry popped. High fives.

Financial Credit Card Frequent Flyer Qantas

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closed Comments

  • twodollah on 24/10/2013 - 21:53

    I got declined a week ago despite having a good income and credit history. Strange…

    • Coley on 25/10/2013 - 09:21

      When you say good credit history, do you mean you have signed up to 2 other QFF cards this month for the points? :P

  • Radar on 24/10/2013 - 22:06
    +2

    It's annoying how they only accept landlines for some of the phone numbers - barely anyone I know has a connected land line.

  • EnALup on 25/10/2013 - 07:54

    NAB Flybuys Platinum has $65 per year charges, but comes with 10,000 bonus flybuys points only. So either you save $25 in yearly charges or you get additional 30k flybuys points here.

  • DEvok on 25/10/2013 - 08:01

    Can u actually join just soft the points then cancel the card? Does the points still stay with you?

    • Coley on 25/10/2013 - 09:19

      You need to spend $5000 on the card to get the full 40k points and you won't receive them until the new year. Once you have them, you can cancel the card with no worries.

      That being said, unless you have another card that earns better then 1p/$1, then you may as well keep using it to earn additional points right up until the next annual fee is due and then cancel just before.

    • JohnHowardsEyebrows on 25/10/2013 - 09:24

      Of course. Once they've bought the points off Qantas, the deal's done.

  • meowmeowmeow on 25/10/2013 - 09:36

    Applied. Didn't notice a reference number and didn't get a confirmation email. I guess now I just wait and see if a card miraculously appears in my letter box. Strange system :/

    • JohnHowardsEyebrows on 25/10/2013 - 12:59

      Tell me about it. There's something decidedly 1990s about the application process.

    • goblues on 25/10/2013 - 15:11

      I had exactly the same experience. I know my credit history is perfect, because I have an online access to it via the veda website and I always monitor it. I am doing a balance transfer so I have a sneaky feeling that is going to help me. Will see.

  • quaddie on 25/10/2013 - 10:05

    Also note the Qantas Club/Pub passes can be sold on Gumtree for between $45-60 each, which would pay for the annual fee on the card.

  • tonester on 25/10/2013 - 10:19

    fyi as alluded to earlier, you can also earn qantas points with a macquarie home loan :)

    • 10,000 Qantas Points for every $100,000 you draw down at settlement as an introductory gift (calculated to the nearest point)
    • 1,000 Qantas Points each month your outstanding loan balance is at least $150,000 on the last business day of the month, plus
    • 25,000 bonus Qantas Points on the third and fifth anniversaries of the settlement of your loan, provided your outstanding loan balance is at least $150,000 on the last business day of the anniversary month.
  • goblues on 25/10/2013 - 15:17
    -2

    By the way Westpac has a similar scheme going on for the Earth Black card:

    http://www.westpac.com.au/personal-banking/credit-cards/rewa…

    Its a straight 40,000 points just for joining!

    The only issue is it recommends that people with $75,000 or more should apply.

    • Jster on 25/10/2013 - 15:40
      +2

      Annual fee: $395

    • wako on 25/10/2013 - 16:08
      +2

      did you miss

      Annual fee currently $395 (this one only $99)
      Minimum card limit $15,000

      and if you actually want to use the card for day to day expenses, its not 1 for 1 on MC Localy

      Points earned per $1 spent on purchases

      0.625 Qantas Point–  Earth Black World MasterCard (Australian merchants)
1.5 Qantas Points – Earth Black World MasterCard (Overseas Merchants)
1.5 Qantas Points - Earth Black American Express Card (Australian Merchants and Overseas Merchants)
1 bonus Qantas Point using your Earth Black World MasterCard or Earth Black American Express card on selected Qantas products and services in Australia.
  • ViperAMD on 25/10/2013 - 17:45

    Is there a calculator that accurately details cost of points + fees between two cities for all carriers? I know Qantas has a calculator, but I would like to see for the partnered airlines which apparently have way less taxes / cheaper.

  • Ryk on 25/10/2013 - 21:36
    +1

    a credit card with an annual fee? No thanks, don't encourage the bastards.

    • JohnHowardsEyebrows on 26/10/2013 - 17:21

      The whole point is to pay $99 to get points and lounge passes worth well in excess of that amount. A bunch of open-and-shut Ozbargainers is hardly going to encourage them with promotions like this.

      • Baghern on 26/10/2013 - 17:37

        People keep referring to credit rating, what exactly does it do to your credit rating.

        • JohnHowardsEyebrows on 26/10/2013 - 19:01

          My feeling is it does more harm in Australia than in other places, because of our well-meaning, but ultimately unfair, system of negative reporting.

          If they could report things like our habits of paying things off, good risks would never be turned down. But because they can only report negative things (like defaults), they rely on very clumsy measures like number of credit applications, and especially declined applications.

          So, by applying for cards simply for the sake of getting their special offers, you can harm your perceived credit worthiness.

  • Sanguine on 28/10/2013 - 00:32
    +1

    Hi Pacolito,

    Interesting, I've just done the same thing with both HSBC and Macquarie, before reading your post.

    I've had the HSBC card for about a month, but am yet to see the 35k bonus points. I've been told by the HSBC call centre it takes 2-3 months. Have you seen yours yet?

    I've done this kind of thing quite a few times before over the years and they keep giving me cards, so doesn't appear to be affecting my credit rating. The last one I used was Woolies for 16k bonus points. Interestingly when I closed that account, they sent me a cheque for a couple of bucks left on the account and the bank name was HSBC! I didn't think they let people jump from one of their cards to another just to get another sign up bonus.

    Call me a sneak, but to avoid being out of pocket on the annual fees I just find a card with a zero interest balance transfer deal, then stick the money in the bank for 6 months.

    E.g. I got.a whopping $20k balance transfer on the HSBC card, even though I haven't got any other credit card debt (in fact I always pay the full statement amount every month) That $20k is basically an interest free loan which I put on the home loan for 6 months, equates to around $500 in my favour. That covers both the $200 HSBC fee and the $100 Macquarie fee.

    Alternatively, you could stick the money in a term deposit if you wanted to spend the interest earnt rather than put it on the home loan. Of course, you need to be careful with balance transfers in that you effectively can't use the card without paying interest on your purchases as any payment you make is always applied to the amount paying the lowest interest to the bank, i.e. the zero % balance transfer amount, not the 20% purchase amount. That's no problem for me though, as I never use the cards anyway, I just chuck them in the drawer for 6 months.

    I like the sound of the David Jones offer, maybe they'll offer a zero interst balance in 6 months when I do it all again in 6 months!

  • quaddie on 31/10/2013 - 12:50
    -2

    I really don't spend much (tightarse Ozbargainer) so I won't be able to put 5K through the card by Feb 28 so I'm planning on purchasing a return Qantas Business full fare return MEL-LHR for August 2014 and cancelling the ticket once I receive the QFF points from Macquarie. Are there any holes in my plan that anyone can see?

    • Sanguine on 01/11/2013 - 16:53

      I believe there's some Macquarie small print that says they can change the Qantas terms whenever they want.

      They've already charged me the full $200 annual fee rather than the promotional $99 fee. I read online that they have a shocking track record for complaints.

      I wouldn't be surprised if they delay on passing on the points.

  • meowmeowmeow on 31/10/2013 - 16:23

    For those wanting to speed up their application, the email address to send your payslip is [email protected] and attention it to Macquarie Card Services. It's just one payslip. You'll need your reference number in the email as well…i had to call up and get mine but it was a simple process, just a few ID questions. It needs to be a PDF document too.

  • massafiri on 12/11/2013 - 13:13

    Just got a call from Macquarie - Took over 10 business days just to get a phone call to ask for my Pay slip. Too slow.

  • KangarooOz on 15/11/2013 - 00:03

    I submitted the application on 25 Oct 2013. I received the card on 13 Nov 2013. This is the longest processing time I ever experienced ….

  • meowmeowmeow on 19/11/2013 - 08:27

    Got my 20,000 bonus points today…now just gotta get the $5K by Feb for the next 20,000 :)

    • jteerapol on 24/11/2013 - 16:21

      You really got it that fast!!!??? I called them and they mentioned that the points will be in 60 days after first purchase.

      • meowmeowmeow on 26/11/2013 - 10:51

        Yep, was within 5 days of first transaction. I got the lounge passes yesterday too, turns out you dont need to buy a qantas flight to receive the passes. Valid till November 2014.

  • Riczter on 25/11/2013 - 12:41

    Quick Question, If I've got a trip to Japan coming up, should I use this Maquarie card for overseas expenses for large purchases to rack up QFF points, ie: paying for the hotel rooms, or should I use my citibank plus debit account which has no foreign transaction fees to save money there?

    • JohnHowardsEyebrows on 26/11/2013 - 21:56

      Definitely Citi Plus. Just use your Macquarie to buy flights, if you haven't already bought them, so you get insurance. :)

      • Riczter on 27/11/2013 - 00:23

        Thought so cheers, already booked external travel insurance. Friend in the industry said that credit card insurance policies are not very reliable.

        • JohnHowardsEyebrows on 27/11/2013 - 09:37

          Yeh, I wouldn't be relying on them if you expected to have to claim. It's more as the nuclear option, e.g. hit by a bus, need medical evacuation - where that first $500 doesn't really matter.

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