The Macquarie Platinum or Macquarie Black credit cards offer the following earn rates for Macquarie Rewards.
| Card type | Reward points earn rate | Points cap |
|---|---|---|
| Macquarie Platinum | Earn 1.25 points per $1 spent on eligible purchases. | 200,000 points per year |
| Macquarie Black | Earn 2 points per $1 spent on eligible purchases. | None |
Most everyday transactions are eligible to earn points, including dining out, petrol, clothes and groceries. Transactions that don't earn points include BPAY payments, cash advances, balance transfers, credit card rates and fee costs, any refunded transactions and government charges. Once you've reached the annual cap, you won't earn any more points.
Currently, you have two ways to redeem Macquarie Rewards points:
Finder analysis shows that 1,000 Macquarie Rewards points are worth:
Note that the value in both cases remains constant no matter how many points you redeem - you don't get more if you redeem a larger total.
Bottom line: eGift cards represent a much better use of the points.
These values change regularly, so double-check when redeeming. In 2023, the values for Macquarie Rewards were higher.
Both the Macquarie Black and Platinum credit cards have an annual fee, so you'll need to weigh up whether the value of the rewards you're likely to receive will offset this cost.
Finder analysis shows that you'd need to spend:
Why you'd consider Macquarie Rewards
The reality is you probably wouldn't sign up to Macquarie Rewards purely for the rewards points - the value on Macquarie credit cards comes from the travel insurance and concierge services that are included. Using the points for gift cards is a handy bonus, but earning points into a frequent flyer program is likely to give you more bang for your buck.— Angus Kidman, Finder frequent flyer expert
You can redeem your Macquarie Rewards points through the Macquarie Mobile Banking app or Macquarie Online. Once you have logged in to your account, you will be able to see your point balance and browse rewards from the following two categories:
The Macquarie Black credit card earns 2 points per $1 spent, which you can use to get digital gift cards or cash back on your account.
The Macquarie Platinum gives you access to rewards, complimentary travel insurance and a concierge service.
This low-cost credit card has the same interest rate for purchases and cash advances.