Macquarie RateSaver Card

Pauline Hatch

Pauline is a personal finance expert at CreditCard.com.au, with 9 years in money, budgeting and property reporting under her belt. Ask Pauline a Question about this card.

The Macquarie RateSaver Card

For a reasonable annual fee and low interest rate, the Macquarie RateSaver card offers up to 55 days interest free on purchases, access to Visa Entertainment, Apple Pay, and Google Pay, all backed by dedicated client service available 24/7.

What we love...

The Macquarie RateSaver card has plenty to offer cardholders who might carry a balance month to month with its 55 days interest-free that can help you manage cashflow.

The card’s purchase rate is lower than average, but still not exactly low – despite the card being called a ‘RateSaver’. If you tend to carry a balance, you may want to look at cards offering a lower purchase rate. However, if you clear your balance, the purchase rate should not affect you, as you can take advantage of the card’s interest free feature.

As for fees, again, this is not the lowest out there in the low-cost card space, but it’s not high either. But, you can choose to add up to 4 free additional cardholders, which can make organising the family finances a more efficient process.

What’s not so great...

This is a middle of the road low cost card. It doesn’t have a super low purchase rate or annual fee, but it can offer value if you make use of its features.

One important thing to note is that this card is only available if you're packaging it with a new or existing Macquarie home loan, or you're a Private Bank or Business Bank client.

Why should you choose this card?

While it may be a basic card, the Macquarie RateSaver credit card is backed by dedicated customer support, available 24 hours a day, seven days a week. As a cardholder, you can also enjoy access to Visa Entertainment, providing exclusive offers on all things entertainment, from sporting events to the hottest gigs, as well as Apple Pay and Google Pay compatibility.

To be eligible for this card, you must be an Australian permanent resident, over the age of 18, with a good credit rating. You must also earn at least $50,000 per year, a minimum income requirement that is higher than many other low rate cards in the market.

Overall Rating

With a low annual fee and ongoing low interest rate, the Macquarie RateSaver card is certainly appealing and has a few nice features thrown into the mix.