Compare Macquarie Credit Cards

Compare the latest Macquarie Credit Card offers. Review your existing Macquarie Credit Card. Get a better deal today.


Updated 18 May 2022

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Qantas Frequent Flyer
Macquarie Rewards

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Are Macquarie Rewards or Qantas Frequent Flyer better?

Which is best for you?

If you take out a Macquarie loyalty points Credit Card you’ll generally have the option to link it to Qantas Frequent Flyer or Macquarie Rewards. We look at the pros and cons of each rewards program to help you choose which is right for you.

How Macquarie Rewards works

The Macquarie Rewards program is designed to give you flexibility in the way you choose to redeem rewards points. It allows you to accumulate rewards on your everyday purchases and doesn’t cap the number of points you can earn.


You can then spend these points acorss the following categories.

  • Gifts cards. You can convert your Macquarie Rewards points for gift cards through a number of retail partners. These include Woolworths, Coles, Harvey Norman, Myer, Big W, JB Hi Fi, and more.
  • Cashback.Macquarie Rewards has a cashback scheme that offers you $5 in return for every 1,375 points you redeem.

Which cards come with Macquarie Rewards?

Macquarie offers 2 different cards that come with Macquarie Rewards. These include the entry-level Macquarie Platinum card , as well as the Macquarie Black. For a higher fee, these offer the opportunity to earn more rewards points, and feature other travel-related benefits.


Summary of the benefits of Macquarie Rewards cards

Macquarie Platinum
Fee$99
International transaction fee0%
Purchase rate20.7% p.a.
Free Daysup to 55
Rewards points earned

Earn Macquarie Rewards Points

1.25points per $1 spent

200,000 annual points cap

Other benefits

No international transaction fees

Complimentary travel insurance

Macquarie Black
Fee$149
International transaction fee0%
Purchase rate20.7% p.a.
Free Daysup to 55
Rewards points earned

Earn Macquarie Rewards Points

2points per $1 spent

Other benefits

No international transaction fees

Complimentary travel insurance

How the Macquarie Qantas Frequent Flyer credit cards works

As the name suggests when you spend money on your Macquarie Qantas Frequent Flyer card, you earn Qantas Frequent Flyer Points directly. Points are uncapped and the amount you’ll receive depends on how much you spend.


Qantas Frequent Flyer program is extensive, giving you the opportunity to use points for domestic and international flights and upgrades. You can also redeem points for:

  • hotels
  • shopping, including gift cards and direct purchases from the Qantas Store
  • purchases through Qantas Wine
  • Qantas Travel Insurance, and
  • hire cars and fuel through BP

Which cards come with Qantas Frequent Flyer?

Macquarie offers 2 different cards that link to Qantas Frequent Flyer. These include the entry-level Macquarie Platinum - Qantas card, as well as the Macquarie Black - Qantas. For a higher fee, these offer the opportunity to earn more rewards points, and feature other travel-related benefits.

Summary of Macquarie Qantas Frequent Flyer Cards

Macquarie Platinum - Qantas
Fee$99
International transaction fee0%
Purchase rate20.7% p.a.
Free Daysup to 55
Rewards points earned

Earn Qantas Points

1point per $1 spent up to $1,000, then 0.5 per statement

200,000 annual points cap

Other benefits

No international transaction fees

Complimentary travel insurance

Macquarie Black - Qantas
Fee$149
International transaction fee0%
Purchase rate20.7% p.a.
Free Daysup to 55
Rewards points earned

Earn Qantas Points

1point per $1 spent up to $4,000, then 0.5 per statement

Other benefits

No international transaction fees

Complimentary travel insurance

Which should you get: Macquarie Rewards or Qantas Frequent Flyer ?

We’ve summarised the key benefits of both cards here. However, ultimately, whether you should choose one of the Macquarie Rewards credit cards or one of the Macquarie Qantas Frequent Flyer depends largely on how you intend to redeem the points.


If you’re happy flying Qantas and shopping through its partners, then earning Qantas Frequent Flyer points directly can be a great option.


If cost is a consideration, it’s also worth noting that the Macquarie Rewards cards tends to be slightly cheaper than the Macquarie Qantas Frequent Flyer cards.


Alternatively, if you don’t feel like you’ll get value out of rewards points, a low-cost no-frills card could save you money.

In short…

Both cards offer great rewards programs and the choice ultimately comes down to personal preference.


More information
* Select “learn more” for additional information regarding fees, interest rates, rewards and other features.
^ Credit card reward programs can be difficult to compare due to tiered and capped points earn rate structures. To simplify comparison, we estimate the number of points you could earn per $1 spent, assuming $5,000 of spend on eligible purchases each month.
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