Macquarie Black and Platinum Credit Card 40,000 Bonus Qantas Points $99 Annual Fee First Year (Normally $299)

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LSSD on 08/06/2016 - 20:03 macquarie.com (689 clicks)
Last edited 09/06/2016 - 12:53 by 1 other user

Hi fellow Ozbargainers!

Long time bargainer, first time poster. I've checked for duplicate deals and only found an expired one.

The Deal

• Get a Macquarie Black or Platinum card with 40,000 Bonus QANTAS Points (yes, both cards give you 40,000 bonus points)
• Reduced first year annual fee of $99 for both cards (reduced from $299/$249 respectively)
• Earn 1 QANTAS Point per $1 for the first $4,000 / $2,500 spent per statement period, 0.5 points per $1 thereafter
• 1 additional QANTAS Point earned per $1 when purchasing QANTAS products (flights etc)
• 14 Months interest free on balance transfers (both cards)

If QANTAS Points aren't your thing, you can get the Macquarie Black Card with Macquarie Rewards. Same benefits and costs, except instead of 40,000 QANTAS Points you get 60,000 Macquarie Points.

The Requirements

• At least 18 years old
• Minimum taxable income of $70,000 (Black card) / 50,000 (Platinum Card)
• Good credit rating
• Australian Citizen/Permanent Resident
• To obtain 40K bonus points, minimum spend in first 60 days following approval is $3,000 / $2,000

If it wasn't obvious, bold text relates to the Black card and italicised text relates to the Platinum card. Normal text applies to both cards.

Why get the Black over the Platinum?

• More earning potential
• Overseas airport lounge access - 750 lounges, independent of airline or travel class (unclear what lounges are included)
• Airport fast track and meet and greet at over 400 airports around the world
• 20% discount off Concierge Service limousine travel up to $100 discount per year
• The ability to say, "I have a black card"

I would encourage anyone to do their own research to make sure the deal is suitable for you!
All of the inclusions and terms are here:
* Black Card
* Platinum Card

I would say this is NOT the best credit card deal going around. If you want a better deal I suggest you check out the ANZ deal: https://www.ozbargain.com.au/node/236581. Other deals of course include the recent Citibank deal: https://www.ozbargain.com.au/node/251002

My sincere apologies if I have submitted this deal incorrectly or not in an appropriate way.

Related Stores

Macquarie Bank

• 

  currentfad on 08/06/2016 - 20:07

  +3

  Good looking first post!

  Why get the Black over the Platinum?
  The ability to say, "I have a black card"

  hahaha

  • 

    TheContact on 08/06/2016 - 22:31

    Doesn't have quite the same ring as the black card.

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  fruit on 08/06/2016 - 20:12

  How much are the 40,000 points worth?

  • 

    SSD on 08/06/2016 - 20:17

    There is a lot of litterature on this (well documented throughout the Ozbargain website) and it totally depends on what you want to use them for. While more seasoned Ozbargainers can give a better indication, as a general guide people have been known to sell points for 1c per point. So $400?

  • 

    Baghern on 08/06/2016 - 21:17

    Only good for flights… really just good for business flights/upgrades… since as an OzB'r you generally find cheap sales flights anyway… so the real value of QFF for flights are pretty bad still

    For gift cards/vouchers… they give you around 70% of what you would get from normal bank reward cards

    Qantas store pretty crap, often better to get the voucher and buy it yourself. Sales are marginally good.

• 

  redwood on 08/06/2016 - 20:18

  I think for lounge access it's Priority Pass.
  Edit: "Call our 24/7 Concierge Service on +61 2 9273 2705 to find out what lounges are available for your next trip and get a quote for access for you and your family. Service charges apply, excludes airport lounges in Australia."
  Get a quote, so not even complimentary!

  • 

    SSD on 08/06/2016 - 20:22

    Yes I found that rather ambiguous as well!

  • 

    [Deactivated] on 08/06/2016 - 20:40

    The Priority Pass membership given with credit card details usually grants you two visits and USD$27 for each additional one, plus you can take one guest (for fee). A nice little extra if you are getting the card for free (see Citibank deal from last year).

    • 

      redwood on 08/06/2016 - 21:39

      Yea, but I don't think even the PP comes free

      • 

        [Deactivated] on 08/06/2016 - 22:09

        +1

        I got the Signature free for life deal last year - it gives you standard membership + 2 free passes, then USD$27/visit thereafter.

• 

  gza on 08/06/2016 - 20:24

  You have to get some pretty decent perks in a credit card to pay for an annual fee these days. The next FF points, perk loaded credit card with no annual fee is always just around the corner

• 

  spuderump on 08/06/2016 - 22:18

  +1

  average deal. Comm bank had one a few months ago for 40K pts with no annual fee.

• 

  nadan on 09/06/2016 - 01:01

  You may not get approved if your income is good and repayments are on time :)

  • 

    wako on 09/06/2016 - 17:44

    I read that about the Jetstar card which I recently got as well,

    I always pay in full each.month,
    And drop cards after there fee free or reduced is up

    And never been denied a card yet
    At one stage I had 6 or 7 cards, which was annoying come end of the month but got 1.5 round the world tick keys now in buisness woo few more and big trip

• 

  chrispc on 09/06/2016 - 14:21

  Does anyone know what is the limit on these? I could not find this info on the website.

• 

  The Champagne Mile on 23/06/2016 - 14:41

  A warning to people that the application process is incredibly painful (at least for me) as opposed to other cards. Having applied around 3 weeks ago, I was sent an email asking me to send in two payslips via email. Which I did. Since that time, I have received an automated text message each day reminding me that my card is conditionally approved, but that I need to send in my payslips to verify income.

  I have also received 3 calls from macquarie's offshore call centre asking me to consent for them to call my HR manager to provide phone confirmation of my income amount. Each time, I've (reluctantly) provided this consent, and they tell me they'll contact my company, then they ring me again! While I've provided consent, and they still haven't even followed up on it, I also find this quite intrusive. Why they can't just ask for copies of bank statements or a notice of assessment is beyond me.

  Still not sorted 3 weeks down the track, and I'm tempted to tell them to shove it!

  • 

    MrTweek on 12/07/2016 - 16:58

    Did you eventually finish the process?

    I applied 3.5 weeks ago, and still waiting.
    Had exactly the same issues as you. Kept getting TXT messages 3 times a week, advising that they need a payslip, even after sending payslip 5 times.

    Called them up to ask what's happening, they said everything is fine now, I should ignore any future TXT messages and will get a result within 5 business days.

    A week later, they called me, advising that they tried calling my HR multiple times but they never reached anyone (which seems highly unlikely to me, it's a 200+ people business).
    I offered to send my employment contract, tax assessments, bank statements, but they refused.

    They also asked me to provide consent (not sure why they think consent will help if they claim HR doesn't pick up their phone).

    Haven't heard anything for over a week now. I don't believe this is going to work out any more.

    • 

      The Champagne Mile on 12/07/2016 - 17:03

      I got a rejection letter a week ago, apparently they couldn't reach my HR department to verify the necessary information', but according to my HR contact, they never tried! Really annoyed at having gone through this process - unprofessional call centre, terrible systems and would warn anyone away from applying for this card. In comparison, the AMEX application process is a walk in the park.

      • 

        MrTweek on 12/07/2016 - 17:16

        I don't get how such companies survive, when they make becoming a customer so hard.
        I'll get the Citibank card instead now. A bit more expensive, but that'll get me 70K points :)

        Thanks for the heads up.

      • 

        MrTweek on 12/07/2016 - 18:29

        Haha, I just came home to a letter saying my application was suspended because they are not able to contact me.
        I'm pretty sure they didn't try calling or emailing me.