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Macquarie Platinum Visa Credit Card - $0 Annual Fee for Life and Hilton Honors Gold Status

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Macquarie Platinum Visa Credit Card - $0 Annual Fee for Life and Hilton Honors Gold Status
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atlas on 06/10/2016 - 21:57 macquarie.com (5300 clicks)

Per the title, apply for a Macquarie Platinum Visa and receive the following benefits:
- Pay $0 annual fee when you apply and are approved by 30 November 2016 (annual saving of $295).
- Earn a reward weekend night certificate valid at over 4,600 hotels and resorts.
- Automatic HHonors Gold status.
- Upgrade to HHonors Diamond status when you spend $40,000 or more on eligible purchases3 a year.
- A low rate of 0% per annum for 14 months from Card approval on balance transfers (I can't find any mention of fees, so I think there are none?)
- Minimum credit limit of $6,000 applies.
- You need to earn a minimum taxable income of $50,000.
- 4 HHonors Bonus Points per $1 spent at hotels and resorts within the Hilton portfolio.
- 1 HHonors Bonus Point per $1 spent on all other eligible purchases.

This would appear to be a good alternative to the Citi fee free visa cards from a few years back. This one has the added bonus of gold HHonors status.

Financial Credit Card Reward Points

Related Stores

Macquarie Bank
Macquarie Bank

closed Comments

  • XucCac on 06/10/2016 - 22:01

    Looks good gonna sign up
    Thnx

  • arctan on 06/10/2016 - 22:02

    How good is Hilton HHonors Gold status?
    I know you can get free breakfast if you stay with Hilton (not the buffet just the continental one).
    Any other good benefits from HHonors Gold?

    • atlas on 06/10/2016 - 22:05
      -1

      Free breakfast is only for Diamond members.

      The best benefit IMO is the complimentary room upgrades (subject to availability).

      Benefits are listed here: http://hhonors3.hilton.com/en/explore/benefits/index.html?

      • redwood on 06/10/2016 - 23:06
        +6

        Negative. Free brekkie is for Gold as well.

        • atlas on 07/10/2016 - 07:49
          +1

          Sorry you're right I misread the terms

      • tanoshiiki on 14/10/2016 - 20:50

        Last time I was on Gold, I got upgrades which allowed access to the Executive Lounge. Free breakfast (continental usually) and free light dinner daily :)

    • matt_will_fix_it on 07/10/2016 - 07:42

      I've had no issues getting the buffet breakfast for free as a gold member.

    • atlas on 14/10/2016 - 23:35
      +1

      Well I just completed a week stay at Hilton Sydney CBD. As a diamond member, received complimentary buffet breakfast, premium internet, and executive lounge access. Executive lounge offers afternoon tea and evening drinks with canapes.

      • cocomelon on 24/10/2016 - 10:24

        im going to stay there next week and i have a diamond status as well, did they upgraded your room to executive suite?

  • lazyevenings on 06/10/2016 - 22:04
    +6

    I am pretty sure the free annual fee for life has been debunked and it's only the first year.

    • atlas on 06/10/2016 - 22:06

      How so?

      Per the terms and conditions: "^ Offer is limited to new applicants only. Primary or additional cardholder annual fees may be introduced or varied in future."

      • lazyevenings on 07/10/2016 - 08:25
        +1

        When this deal also came up in August, numerous people called up and were told the fee is waived for the first year only. Some even claimed that the wording was intentionally misleading.

    • capslock on 06/10/2016 - 22:07

      Fine print says "Primary or additional cardholder annual fees may be introduced or varied in future."

      • atlas on 06/10/2016 - 22:24

        Well that to me says nothing about it being fee free for only the first year.

        IF they decide to charge a fee in the future then just cancel the card - simple.

    • aroundme on 06/10/2016 - 23:21

      And the reality is - for a lot of card providers, the cost of acquistion (of a new customer) is high - so, if you find that they are going to charge - you call and threaten to cancel (if you like the benefits the card provides) or cancel.

      FWIW - the T&C of this promo has a different condition - the one that I had (expiring Sept 2016) made no mention of fees being introduced or varied in future.

      • danyool on 07/10/2016 - 14:04
        +1

        you call and threaten to cancel

        Have been doing this on a Virgin Flyer card for 5 years - they called my bluff this year and cancelled the damn thing!
        They offered me a $50 discount on $129 fee or to switch to the no-fee card (with no point earn… why even bother!)

    • djones145 on 07/10/2016 - 06:22

      I signed up in august and on the terms and conidition one pager it says no annual fee. However it notes that it can change at any time.

  • Homr on 06/10/2016 - 22:09

    hrmmm interesting, I already have a Citibank free for life credit card. Wondering if I should get this too for backup. My free ANZ Black Card is about to expire in Feb 17

  • power71 on 06/10/2016 - 22:10
    +1

    Looks like you can manage 2 weekend night certificates. The first if you spend $2000 within the first 3 months and the second if you spend $12,000 on the card every 12 months.

    • John Stone on 07/10/2016 - 00:25
      +1

      "You can earn a weekend night certificate after you have made $2,000 in eligible purchases on your Hilton HHonors Macquarie Platinum Card within the first three (3) months of Card membership."

      "On each anniversary of your Hilton HHonors Macquarie Platinum Card account being opened, if you have made $12,000 in eligible purchases on the Card during the preceding year, you will earn one (1) weekend night certificate as an anniversary bonus."

      So basically, the first offer is a once off offer (Similar to other credit card sign up bonuses). You then need to spend $12k annually to continue to receive a free weekend night.

  • akula on 06/10/2016 - 22:30

    Stupid question. One weekend stay means just Saturday right? or Saturday & Sunday ?

    • navac on 06/10/2016 - 23:01
      +1

      Friday, Saturday and Sunday.

  • akula on 06/10/2016 - 22:41

    This is from Hilton Honors Citibank America website definition "Weekend night certificate is valid for one (1) weekend night standard accommodation Friday, Saturday, Sunday double occupancy, subject to availability, at properties in the Hilton Portfolio, excluding those listed at HHonors.com/weekendcertificate. " Wow so its 3 nights for 12k spend. Sounds like a bargain.

    • Blorgglorg on 06/10/2016 - 22:55

      I think it means 1 of the nights on any of a Friday, Saturday or Sunday (pick one)

      • akula on 06/10/2016 - 22:58

        I did think so too. But i can't find the exact definition for it.

        • John Stone on 07/10/2016 - 00:37
          +3

          No it definitely is only 1 night.

          However it has some awesome redemption potential, considering the only exclusions are the all inclusive and distictive properties.

          You can use it on any of the 95,000 point properties, which includes the Conrad Maldives (about $1450 AUD a night)

  • TheAviator on 06/10/2016 - 22:54

    Seems a good offer. I'm on the lookout for a rewards platinum card with a low fee. Have you seen anything that compares?

    • nightelves on 06/10/2016 - 23:03

      Yeap Westpac has 50k bonus signup and fee free for existing customers and same with ANZ Qantas black. Take your pick.

      • wongsun on 07/10/2016 - 12:40

        Westpac has no annual fee for the first year only. ANZ Qantas black gives you bonus points but you pay an annual fee.

    • woozie3 on 07/10/2016 - 00:00

      What about the HSBC Platinum credit card with the $149 annual fee refunded if spending more than $6k a year? Rewards program seem much better than this Macquarie?

      • John Stone on 07/10/2016 - 00:20

        The Rewards program for the HSBC card isnt that great. It is 1 point for every $1 spent. 2 rewards points = 1 velocity point.

        If a good rewards program is what you are after then the Mastercard/Visa cards, will never be able to match the points generation of an Amex card.

        In saying that, it looks like this card generates points as Hilton HHonors at 1:1. This is pretty poor considering that HHonors is probably the lowest value point out there.

  • starbearer on 07/10/2016 - 00:10

    How about the rates for international purchases and ATM withdrawals. I know that 28 degrees would be the best in that, but how would this card compare?

  • cpho on 07/10/2016 - 00:44
    +18

    Pretty rubbish credit card unless you're constantly staying at the Hilton, or just hoarding credit cards for fun.

    Point system is meager at best.10,000 HHonor points ($10k) to get 1500 Velocity points.
    For comparison with other free cards, HSBC $3000 spend = 1500 velocity points. Free AMEX velocity card $1500 spend = 1500 velocity points. Free Amex Essential Card: $1500 spend = 1500 AMEX points = 1500 velocity points.
    Given the going rate for a Virgin FF point is roughly 1c per point, it might also be worth noting that the Coles free credit card give $10 reward for $4000 spend.

    You have to spend $12k/year on the card to get ONE night complimentary stay at a hotel. Who only stays at a hotel for a single night anyway?
    Free breakfast with Gold status? Sure, but you're paying Hilton prices. Might as well got to a cheaper hotel, buy the breakfast, and still be saving money.

    • John Stone on 07/10/2016 - 00:55
      +3

      Your right, it is good if you are staying at the Hilton. Yes the reward earn on this card is crap. However….

      Free Weekend night valid for any stay at a Hilton owned property, with only minimal exclusions.
      5th night free offer.
      Free Hilton Gold Status - with opportunity to status match with other hotel chains.

      Not bad perks for a free credit card.

      As I said previously. If your serious about the credit card reward point game, then you will put most of your spend into an Amex card, such as the Platinum Edge for shopping, or the Explorer for everyday spend.

      • atlas on 07/10/2016 - 01:07

        Yep agreed. I will be putting the card in the drawer and just be using the Hilton benefits whenever convenient at no cost to me. Daily spend will still go on my Amex.

      • bargin424 on 07/10/2016 - 07:45

        Why would you say the explorer? Why not just use the platinum edge card. What Mastercard/visa do you have for rewards at the moment where Amex isn't accepted ?

        • John Stone on 07/10/2016 - 13:23
          +1

          I say the Explorer because it beats the Platinum Edge for reward points on everyday spend. Everyday spend is where most of my spend goes on.
          It earns 1.5 FF points vs the Platinum Edge which is 1 point per $ for everyday spend.

          Plus it earns 1:1 SPG points which is probably the most versatile point program out there, whilst the Platinum Edge earns at half the rate on everyday spend.

          In saying that I use both as I would spend the money on the travel entitlements in lieu of the cards.

    • djones145 on 07/10/2016 - 06:23

      Yeah using it to get gold status, Hilton in america is quite cheap so gold status helps, rewards package is terrible so won't be using it normally.
      Also for some reason I got upgrade to diamond lol nuts

      • tanoshiiki on 07/10/2016 - 21:29

        Upgraded to diamond due to?

        • djones145 on 07/10/2016 - 21:30

          Dunno. Suppose to spend 40k before ya get it, I spent 2k in 2 months and got diamond still 2018. Weird

        • tanoshiiki on 07/10/2016 - 21:44

          @djones145:
          Lucky! :)

    • mbck on 07/10/2016 - 07:08

      I think the essential is part of membership gateway, so it's 1 membership point =.75 velocity points.

  • hweita on 07/10/2016 - 01:59
    +2

    Could be great for aspirational destinations like Conrad Maldives or Hilton Bora Bora, especially if you can use two weekend certificates (say you staying over 7 day period), and combine with the stay 4 nights pay 3 deals which they do sometimes during low season, one could save up to 3 nights' costs

    Of course the costs of getting there (flights + seaplane transfers) and spending in these resorts are another thing…. :)

    Some redemption tips for the weekend certificate:

    http://www.frugaltravelguy.com/2015/02/top-10-luxury-hilton-…

    Value of HHonors Points aren't great, but since the card is free it's hard to complain:

    http://onemileatatime.boardingarea.com/value-miles-points/
    https://www.valuepenguin.com/hilton-hhonors-rewards-program

    • Spizz on 07/10/2016 - 11:17

      Definitely worth getting if going to Conrad Rangali. Though of course paying for Seaplane transfers, room upgrades to the Water Villas, Food, etc is another $$$ story.

  • illumination on 07/10/2016 - 02:23
    +1

    Something notable that you have not mentioned (and no one else in the comments) is the free travel insurance.

    That is pretty good for a card that's fee free for life.

    Yes many other premium cards offer it too, but a lot of those (if you do not intend to hold long term - i.e. sign up for bonus points with annual fee waiver, then cancel) will last for a year maximum.

    • mbck on 07/10/2016 - 07:09

      Not quite fee free for life as in t&cs they did mention potentially changes in the future.

      • illumination on 07/10/2016 - 08:26

        I believe this card is as fee free life as any other "supposedly" fee free for life card.

        The only difference being this card has that clause in the T&Cs and other cards don't, but in practice do you think that other card providers can't introduce annual fees when they want either? I don't know for sure but I don't see why other card, providers can't (e.g. Citibank Signature)

        • mbck on 07/10/2016 - 13:39

          fee free for life means fee free for life. They can change the points system (how much to redeem,etc,etc), but the fee remains free for life.

          This card is free until further notice. Can't make it clearer than that…

        • illumination on 07/10/2016 - 14:18

          @mbck: The wording of fee free for life means fee free for life. I'm saying in practice, a financial institution is free to say "due to increase in costs, we have decided to introduce an annual fee of $50 starting 1 Jan 2017" and point to an obscure clause in the T&Cs if questioned. A clause which is probably a lot less clear than this one stated with this card.

          As an example, are you trying to say that Citibank can't introduce an annual fee simply because it has been advertised as fee free for life? I don't think so. But they'll have a lot less incentive to and will probably face more backlash because they didn't include a clause like Macquarie did.

          With that being said, I think you could say Citibank are less likely to introduce an annual fee because of how it's been advertised (i.e. as a "fee free for life" card) but it certainly does not mean that they can't (which is what you have said).

        • mbck on 07/10/2016 - 14:51

          @illumination: Anything can happen. Literally anything CAN happen. Nothing is written in stone. TnCs are always updated.

          But what I'm saying is by using the words fee free for life, Citibank will (as you said) have a lot of backlash if they do decide to make any changes to the annual fee. However, they will most likely go around this issue by, instead, changing their points systems.

          With this offering, there's a higher chance Macquarie will/can change their annual fees due the wording they've used. Smarter, as you said.

          But, this is not 'supposedly' fee free for life like other cards. This card is fee free until further notice. Don't add extra words in the original contract as it becomes opinion as opposed to fact (which is what you did)

    • atlas on 07/10/2016 - 07:41

      Yes it comes with all the standard platinum insurances, and a concierge service. Will update the post.

  • dumkaze on 07/10/2016 - 07:18

    Is that for one year or it's free for life ? One u have gold status with card … so will be gold memember for life as well ?

    • atlas on 07/10/2016 - 07:45

      As it currently stands it is free for life. The documentation you receive when you get your card states the annual fee is $0.

      But this can be changed, as can any condition by any credit card provider it seems.

      • dumkaze on 07/10/2016 - 09:42

        Thank you.. I applied and upload document as well.. lets ee what happen

  • danielkcheung on 07/10/2016 - 07:35
    +2

    Instead of "You need to earn a minimum taxable income of $50,000", it should be "You need to spend a minimum of $50,000 on OzB". That's most of us :)

  • geek001 on 07/10/2016 - 08:59

    Has anyone applied? Do you know what documentation is needed? Thanks.

    • atlas on 07/10/2016 - 09:03

      For people employed full-time, just your most recent payslip.

      Self-employed their most recent notice of assessment (tax return).

      Others I can't remember.

    • dumkaze on 07/10/2016 - 09:54

      Just applied. For full time employee :- Tax assessment notice and payslips

  • dumkaze on 07/10/2016 - 11:40

    Is there any we can check application status online ?

  • yht on 07/10/2016 - 12:55

    Applied and rejected during previous offer. Will try to apply again now, but somehow once I clicked Apply Button, it has a blank screen ? Anyone else has the same experience ? Tried IE and Chrome, both the same result

  • yannyrjl on 07/10/2016 - 13:13

    Does this card have any interest only period? Can't find anything on it

    • atlas on 07/10/2016 - 13:40

      Standard 55 days

  • pyccotypucto on 07/10/2016 - 13:19

    should work out well for frequent travelers staying at hilton as HH allows to double dip for Qantas points as well.

    "You'll now automatically earn 1 Qantas Point per eligible US$1 spent^, plus an additional 10 HHonors Base Points for most stays within the Hilton HHonors portfolio.*"

    https://www.qantas.com/fflyer/dyn/partners/hotel/hilton-hhon…

    • foggy10 on 07/10/2016 - 13:56

      For balance, Velocity also offers the same with better earning potential since you get 2 velocity points per dollar, plus the 10 HH base points. Velocity points also get more value when redeeming for flights compared to Qantas.

      https://www.velocityfrequentflyer.com/content/Earn/Accommoda…

      • pyccotypucto on 07/10/2016 - 16:09

        I'm anti-Virgin velocity :) IMHO when I retire I want to have something like oneworld sapphire for life recognition for all the travels I have done :)

        Virgin in the long run gives you nada in that respect :)

  • FiDad on 07/10/2016 - 14:27

    A low rate of 0% per annum for 14 months from Card approval on balance transfers (I can't find any mention of fees, so I think there are none?)

    0% balance transfer might come in handy. Does anyone know how much of card limit can we do balance transfer for? Interested in this as balance transfer on my citibank is ending in dec

    • dumkaze on 07/10/2016 - 15:51

      If u do balance transfer how do fulfil the minimum spend requirements?

      • atlas on 07/10/2016 - 16:00

        You would have to balance how much you transfer with how much credit limit you have left…

      • FiDad on 07/10/2016 - 16:26

        Minimum spend is for weekend voucher which i can do without

        • dumkaze on 07/10/2016 - 16:33

          or you can do the minimum spend and then after ask for balance transfer :)

    • pyccotypucto on 07/10/2016 - 16:08

      Wrong spot

  • dumkaze on 07/10/2016 - 16:03

    Anyone got approved ? How long does it take application decision ?

  • Sharp on 07/10/2016 - 17:03

    I get white screen when i click apply. I tried safari, ie, chrome. Same result.

    • twoface41face on 08/10/2016 - 00:15

      look up macquarie bank and then navigate to credit cards and find the link. that worked for me.

  • tanoshiiki on 07/10/2016 - 21:27

    You will need to upload some documents. We will let you know what they are later

    Do you need to have the documents (presume payslip?) ready during the application?

  • dumkaze on 10/10/2016 - 22:32

    Anyone Got approved??

    • RoseJJ on 11/10/2016 - 11:54

      Yes me. Just follow up by calling the number and they said they have sent the card yesterday so should receive soon.

      • dumkaze on 11/10/2016 - 13:45
        +1

        Thanks .. i just called they said I should receive soon

        • hongd on 12/10/2016 - 14:13

          hm..they don't call you or mail you when the application is finalized? interesting, silent banker

  • harrylovevee on 11/10/2016 - 12:06
    +1

    Employment type
    Documents required
    Full time/part time/casual/temporary Your most recent payslip (no more than 60 days old from the date of application).
    Self employed Your most recent Notice of Assessment received from the Australian Taxation Office (limited to the previous two financial years).
    Retired Superannuation and/or pension statement.
    Other income Relevant supporting documentation (e.g. rental statement for rental income).

  • hongd on 11/10/2016 - 17:37

    let me try to apply minimum 6000 credit. backup card in case i will stay in the hotel.

  • dumkaze on 11/10/2016 - 19:35

    Any Idea how to change status to Gold ? Do I need to call them or something ?

    • Rashed on 18/10/2016 - 02:07

      Did you add your HHonors number during the application procedure?

      • dumkaze on 19/10/2016 - 11:36

        Yes got upgraded other day.. anyone upgraded to diamond yet ?

        • Rashed on 19/10/2016 - 22:35

          If you hit 40k, you will get upgraded within few days, at AFF someone got upgraded the very next day. Hope that answers your question.

  • pencilman on 13/10/2016 - 14:38

    Anyone have any joy converting from the previous special with reduced first year fee and bonus points to the ongoing fee free version???
    I tried and got knocked back on first attempt.

    No way I'm going to pay $295 annual fee when it's fee free for life for new applicants.
    Anyone have any recommendations?

    I guess I can cancel and reapply but don't want the VEDA hit.

    • dumkaze on 15/10/2016 - 01:02

      Is that any use to get hilton Gold status ? did you manage to get any good value out of it ?

      • Rashed on 18/10/2016 - 02:08

        you will usually get free breakfast, upgrades, bonus points, etc.

  • scar4ace on 18/10/2016 - 12:55

    I do need a nice fee-free card to get off the bonus points sign-up/cancel merry-go-round

    Would this card be worth it just for the gold status + free weekend cert for $12k spend/year?

    Considering
    - I don't mind the lost points on my Amex QFF card on the $12k I will put on this card
    - I travel and spend at least the 1 night at a participating Hilton and rest of trip at a more cost effective place.

    Also, does weekend cert expire, can I redeem 2 nights in one hit (e.g. Fri and Sat night) every 2 years

    Cheers

    • Rashed on 18/10/2016 - 19:56

      Free weekend certificate has 1 year exipry from the date of issue.

  • tanoshiiki on 19/10/2016 - 10:24

    I found out I got approved through the card through Hilton Honors first, as I got an email that I got upgraded through the card program. Still haven't been contacted directly by Macquarie.

  • dumkaze on 19/10/2016 - 15:43

    Anyone got upgraded to diamond ?

    • Rashed on 20/10/2016 - 01:29

      few at AFF..

      • RoseJJ on 20/10/2016 - 12:12

        How? Can you let us know or perhaps share the AFF link? Many thanks.

        • Rashed on 20/10/2016 - 14:47
          +1

          Spending 40k on the card, you will be upgraded to Diamond. And then there are others who got it through a status match (so if you have diamond/platinum etc, the highest tier on another hotel chain, hilton matched the status).

      • dumkaze on 21/10/2016 - 07:29
        +1

        I saw there some users got upgraded after 12 k spend … anyone got upgraded here after spending 12k ?

  • ajobbins on 21/10/2016 - 10:16
    +1

    I got a letter yesterday saying I needed to take my ID into AusPost and complete a form they sent for ID verification. Annoying, but fine.

    The letter was dated 8-August, which is the day after I applied, but it only arrived yesterday (20-August). Guy at AusPost said that's pretty normal now unless the letter is sent 'Priority' O.O

  • Wootwootwoot on 21/10/2016 - 11:04
    +1

    Same - a trip to the post office - would not be annoying if notfor the ancient and slow post system here in AU. I can hand deliver the goddamn parcels faster than them

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