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Macquarie Black Credit Card: 40,000 Qantas Points for $3,000 Spend ($99 1st Year Annual Fee)

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Macquarie Black Credit Card: 40,000 Qantas Points for $3,000 Spend ($99 1st Year Annual Fee)
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ilubbargains on 19/02/2016 - 12:56 macquarie.com (474 clicks)
Last edited 19/02/2016 - 13:10 by 1 other user
  • Reduced $99 first year primary cardholder annual fee then $299 ongoing
  • To earn 40K bonus points, spend $3K within first 60 days of card approval
  • To apply online you will need to be 18 years or older, have an Australian address, email address and mobile number, be a permanent Australian resident and have a good credit history.
  • You must earn a minimum taxable income of $70,000
  • Up to 55 days interest free on purchases
  • A range of complimentary insurances, including Overseas Travel, Purchase Security, Extended Warranty and more
  • Complimentary 24/7 concierge
  • Extra travel benefits including 20% discount on limousine travel booked through Concierge Services, up to $100 in discounts per
  • Visa Entertainment
Financial Credit Card

Related Stores

Macquarie Bank
Macquarie Bank

closed Comments

  • ilubbargains on 19/02/2016 - 12:59

    Can anyone comment on:
    1) Macquarie internet banking interface (previous posts alluded to poor design/functionality)
    2) Whether this card is able to earn Qantas points on ATO payments. If yes, what is the earn rate?

    • naphman on 19/02/2016 - 13:40
      +1

      As a customer, I'd say - don't.

      We fully moved our home loan, bank and credit card to them and they are 'pokey' to say the least.

      To pay the credit card off - it's a BPay payment from their own bank - so you havta wait 24 hours before the money is there on the credit card!
      So much for standing at the register and quickly transferring!!

      • bluedufflecoat on 19/02/2016 - 21:48

        BPay files are sent overnight to all the banks etc… So it doesn't matter whether you pay from Macquarie or some other bank account. The receiver won't know until the end of the day.

        I'm also with Macquarie for my home loan… They are, as you say… "Pokey".

        • naphman on 20/02/2016 - 15:50

          True on the BPay. Though after being with ANZ and transferring between account and credit card and having the money pretty much right away - 24 hours is 'annoying'!

          Even the staff on the phone seem to agree their systems are lacking.

    • fault on 23/02/2016 - 22:09

      (1) I have their transaction account and credit card (although I only use the latter). Their IB platform has undergone a significant upgrade (SAP core banking). Here's a screenshot: http://i.imgur.com/DmyeRNg.jpg. I think it's pretty slick. Their mobile app is similarly polished e.g., TouchID logins on iOS, instantaneous notifications on transactions, etc. I use their credit card without fail (as I have an offset & mortgage with someone else) — haven't had any problems, pay it off in full each month, QFF points come through fine, etc.

      (2) Sorry, no idea.

      Disclaimer: I am staff although I don't work in their Banking and Financial Services arm who sell credit cards. I am not spruiking their products — just sharing my thoughts so interpret them however you like. No judgement please :P

      PS: Personally, I think the $299 fee is a outrageous but I guess it comes with a whole bunch of "Black" level "benefits" which you need to weigh up if it's worth it.

  • scrimshaw on 19/02/2016 - 13:04
    +8

    You must earn a minimum taxable income of $70,000

    Uh.. I guess that rules out 99.98% of ozbargainers..

    • tomleonhart on 19/02/2016 - 13:28
      +2

      i beg to differ.

      That includes 99.97% of oz bargainer !

      • zacsg1 on 19/02/2016 - 13:50
        +2

        I'm on 37k a year full time… Yay I'm in the 0.03%

        • Jazza2400 on 19/02/2016 - 15:11
          -3

          Should you be on this website? I know there are bargains but it encourages and advertise products people don't necessarily need but will buy it "because it's never been this cheap" and then it just gathers dust.

        • zacsg1 on 19/02/2016 - 17:00

          @Jazza2400:

          LOL yep cos the next time Rolls-Royce have a deal i'm going to just have to get one…

    • Innately Incognito on 19/02/2016 - 13:38
      +1

      http://www.macquarie.com/au/personal/credit-cards/platinum-q…

      You can get the same deal on the platinum card. Only difference I can see is no discounted limousine travel.

    • homersyd on 19/02/2016 - 13:40

      To see which statement is true, let's see how many pluses each one is getting lol

  • nightelves on 19/02/2016 - 13:07
    -1

    40k points is not worrh it and especially 3k spend within 60 days as well. Pass.

    • PotPlant on 19/02/2016 - 13:30

      That's really weird. Are you saying you can't put $1500 a month worth of expenses thru this credit card for two months?

      • nightelves on 19/02/2016 - 13:42

        Yeap. I have paid off majority of my bills through the Amex Qantas promotion.

      • grips on 19/02/2016 - 14:10

        I haven't got 1500 per month in expenses anyway

    • tonyjg on 19/02/2016 - 13:49

      agree - got (when CommBank GET AROUND to doing it !!) 40,000 QF Points for only $500 spend, and fees (249 and 30 for QF) refunded…..

      just wish Commbank would pull their finger our - it's been over 120 days… and still nothing.

  • jabroni on 19/02/2016 - 13:09

    40k for 3k spend in 2 months and $99 isnt as good as the other deals posted up previously

  • spuderump on 19/02/2016 - 13:24

    there are wayyyyyy better deals out there at the moment.

  • cornucopia on 19/02/2016 - 14:00
    +1

    The ANZ FF Black Visa (+ Amex) offer is waaaay better…. :-) .. !! More free points on lower expenditure, similar $ earnings threshold, zero fee year 1. (Put a sock in it trolls, I'm an ANZ card user, not a Bankie)

    https://www.anz.com.au/personal/credit-cards/frequent-flyer/…

    • dwh44 on 19/02/2016 - 14:19
      +1

      Agree, ANZ offer is still the best on the market thus far.

    • coxymla on 19/02/2016 - 14:31
      +1

      Sure, but why only partake in one offer?

      • cornucopia on 19/02/2016 - 14:39
        +1

        You do need to be careful with how many credit cards you apply for as each application registers as a minus on your credit rating .. :-( .. !!

        https://www.veda.com.au/yourcreditandidentity/check/credit-f…

        • nightelves on 19/02/2016 - 15:21

          What happens if you apply for the credit card, collect all the signups bonus and features and then cancel it within six months. Does that affect your VEDA score?

        • cornucopia on 19/02/2016 - 15:49

          @nightelves: Read what it says on Veda .. see URL as previously.

  • blackwalnut on 19/02/2016 - 14:33

    most of us have the ANZ deal already. other than ANZ nothing really better than this one, NAB has 60,000 but fee is $250.

  • iamdragoon on 19/02/2016 - 15:39

    i wonder if this includes home loans as well?

  • nadan on 19/02/2016 - 15:52

    Be prepared for your credit history to take a hit, because they will not approve you if you have a good credit history and pay your balance on time.

    I wouldn't risk it.

    • ilubbargains on 19/02/2016 - 16:58

      Could you please elaborate? Have Bankwest previously rejected your application, despite you having a good credit history?

      • nadan on 19/02/2016 - 17:52

        Bankwest?

    • ChickenTalon on 25/02/2016 - 13:03

      Mrs applied for one and got rejected.

      Yet has had no problems getting an ANZ Black card. Could be due to the good credit rating or being a contractor.

  • econzune on 19/02/2016 - 16:19

    Can someone please tell me which cards earn points to when paying ATO pay as you go taxes? Thanks!

    • ilubbargains on 19/02/2016 - 16:50

      ANZ will cease giving points for ATO spend from February 27. At last check, I think Westpac Altitude Black is giving 0.75 points/dollar, but are likely to follow most other banks and stop giving out points on ATO spend. If you're adamant on earning points on your tax bill, the AMEX Velocity Escape is probably best value at 1 point/dollar and no annual fee: https://www.americanexpress.com/au/content/velocity-rewards-…

      Do your math and work out whether it's worth the 1.45% surcharge to pay your tax with AMEX. Personally, I don't think it's cost-effective, even at 1 point/dollar. Others might disagree?

      • cornucopia on 19/02/2016 - 19:10

        Crazy dumb, FF points are worth 1% of a credit card transaction at 1/1 at best :-( .. !!

      • [Deactivated] on 20/02/2016 - 13:00

        If you're booking Syd - Mel with points + pay on the reward flights 1 VFF point is worth approx $0.2. the surcharge is potentially tax deductible as well if you follow https://www.ato.gov.au/Individuals/Income-and-deductions/In-…

    • LittleDon on 21/02/2016 - 17:49

      Last ATO bill was paid with HSBC Platinum Qantas Visa and got QFF points at 1:1. The $199 fee was waived early this year with a threat of cancelling the card.

      • scheps on 27/02/2016 - 00:48

        Must be quite a while ago then, HSBC stopped paying IIRc.

  • nicwinner on 22/02/2016 - 16:15

    1st it has annual fees
    2nd it has minimum spent requirement
    3rd too less QFF points

  • scheps on 27/02/2016 - 00:48

    I agree, the only draw card for this card is ATO points.

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