The Macquarie RateSaver Card offers a straightforward combination of affordability, convenience and digital banking features.
For eligible customers comparing low-interest credit cards, its 15.95% p.a. variable purchase interest rate, $69 annual fee and up to 55 interest-free days on purchases make it an option worth considering.
Add no international purchase fees and advanced security features, and the card becomes particularly interesting for people who shop online with overseas retailers or travel internationally.
Macquarie RateSaver Card: the best credit card for everyday spending and international purchases
Looking for an international credit card that doesn’t add unnecessary fees to overseas purchases? Macquarie RateSaver stands out by charging no international purchase fees when you shop overseas or buy from international online retailers.
Transactions use the Visa foreign exchange rate without additional international purchase fees from Macquarie.
Whether you’re booking accommodation, buying from an overseas website or paying for purchases during a holiday, avoiding these charges can make your spending more economical.
The appeal goes beyond international transactions. Among low-interest credit cards, Macquarie RateSaver offers a 15.95% p.a. variable purchase rate and up to 55 interest-free days on purchases when you pay your account in full by the monthly due date, subject to the applicable exclusions.
Its digital banking tools also automatically categorise transactions, help you create budgets and provide real-time notifications when enabled.
For eligible Macquarie offset home loan customers, using the card for everyday purchases while keeping savings in an offset account may also help minimise home loan interest, provided the card balance is repaid in full within the interest-free period.
Is a Macquarie credit card worth it?
Macquarie Bank is an established Australian financial institution offering banking, lending and financial services. Its RateSaver Card combines the convenience of a digital credit card experience with security features designed for modern banking.
Macquarie provides 24/7 online fraud monitoring, Visa Zero Liability protection for eligible unauthorised transactions and the Macquarie Authenticator app, which lets customers approve or deny certain online transactions and account activity.
Cardholders can also lock or unlock their card through the banking app.
For customers comparing low-interest credit cards, the RateSaver Card could be especially appealing if they already have an eligible Macquarie home loan or Business Banking relationship.
Apple Pay and Google Pay compatibility make everyday payments convenient, while digital spending insights and transaction notifications help cardholders stay informed.
Macquarie’s Travel Mode also displays local exchange rate information and provides access to international support details when overseas.
However, the card’s restricted eligibility means it isn’t available to every applicant, making it important to check the requirements before proceeding.
What are the eligibility requirements for a Macquarie credit card?
To apply for the Macquarie RateSaver Card, you’ll need to meet the following eligibility criteria:
- Be at least 18 years old.
- Be a permanent resident of Australia.
- Have a good credit rating.
- Earn a minimum taxable annual income of $50,000.
- Be packaging the credit card with a new or existing Macquarie home loan, or be a Macquarie Business Banking client.
- Provide details of your gross annual salary and monthly expenses.
- Supply information about your current employer, including its address and telephone number.
- Provide your accountant’s details if you are self-employed or retired.
- Supply your Australian driver’s licence number if you have one.
Meeting these credit card eligibility requirements does not guarantee approval. Macquarie will assess your application and financial circumstances according to its lending criteria.
How to apply for the credit card
- Step 1: Visit the official Macquarie RateSaver Card website and review the product’s interest rates, fees, features and eligibility conditions.
- Step 2: Confirm that you have an eligible Macquarie home loan arrangement or Business Banking relationship.
- Step 3: Check that you meet the minimum age, residency, income and credit rating requirements.
- Step 4: Prepare your income details, monthly expenses, employment information and other documents requested by Macquarie.
- Step 5: Follow Macquarie’s application instructions or contact the bank through its official channels to confirm how to proceed with your credit card application.
- Step 6: Complete the application process and provide any additional information required for the bank’s assessment.
- Step 7: Wait for Macquarie’s credit decision. If approved, follow the bank’s instructions to activate your card and set up available digital payment features.
Frequently asked questions
How does interest work on the Macquarie RateSaver Card?
The Macquarie RateSaver Card has a variable interest rate of 15.95% p.a. on purchases and cash advances.
Cardholders can receive up to 55 interest-free days on eligible purchases when the account is paid in full by the due date shown each month, excluding balance transfers and Interest Free Finance balances within their specified promotional periods.
If you don’t meet the conditions for interest-free purchases, interest may apply according to the card’s terms. Cash advances do not receive the same purchase interest-free benefit.
How can I increase the credit limit on my Macquarie RateSaver Card?
If you’d like to request a higher credit card limit, contact Macquarie through its official banking channels to check whether credit limit increases are available for your account.
Any increase may require a reassessment of your financial position, income, expenses and creditworthiness. Approval is not guaranteed and remains subject to Macquarie’s lending policies.
How can I pay my Macquarie RateSaver Card statement?
You can use Macquarie’s available banking services to manage your credit card account and check your statement for the supported repayment methods and payment details.
To benefit from the available interest-free period on eligible purchases, pay your account in full by the monthly due date, subject to the card’s conditions and exclusions.
Making only the minimum repayment may result in interest charges and increase the overall cost of borrowing.
How can I cancel my Macquarie credit card?
To cancel your Macquarie RateSaver Card, contact Macquarie through its official customer service channels and request closure of the credit card account.
Before proceeding, check for outstanding balances, pending transactions and recurring payments. If your card is linked to a Macquarie home loan package, ask whether closing it could affect any associated arrangements or benefits.
Macquarie can explain the requirements for settling your balance and completing the account closure.