After having a recent credit card compromise Macquarie Bank were so helpful and efficient. All of the money which was taken was refunded back into my account very quickly . Such a friendly service and I can thoroughly recommend them for credit card accounts .
I am not surprised to read that others have had the same experience with Macquarie as I have had. I had to change credit cards because ING randomly called me to say that I could not use my accounts for business purposes (read my side income which I am not even registered for GST, and which is NOT required by the ATO to have a business account). I was already with Macquarie for other accounts so wanted to simplify my banking by closing all my ING accounts and moving the remainder to Macquarie. That's where my pain began. I applied for a credit card after meeting their lofty criteria, in October last year. It was declined on the basis that I had not completed my 20/21 FY tax return at that time, despite evidence of my income being available from my accountant and PAYG receipts. They point blank refused to verify my income. It was easier for them to do no work and reject it. I appealed this and requested that the card limit be reduced to $6000 (from $15000 - it said there was an option to reduce the limit on the website, but that tab didn't work). This was again refused despite my 94% credit rating, a 20+ year history of servicing credit cards to the same limit and being a customer of theirs for almost as long. To cap it off they said they did not disclose how decisions were made. Good to see the banking royal commission made an impact on them re: transparency. I need to disclose everything and they get to be completely opaque in their processes. I have since completed my tax return and sent them a screenshot of the summary sheet (because no bank needs to hoard my entire tax return in an age of cyber hacks and Ransomware attacks). Despite this being the information they requested in order to verify my income and approve my application for their pathetic credit card, they repeated their mantra of 'this case is closed, you can reapply in 6 months’ time if your circumstances change". I have repeatedly told them that my circumstances will not change and have not changed. They just need to do their job, which seems to be the only barrier here. I am still waiting the Ombudsman to get back to allocate me a case worker (4 mths so far). In the meantime, last week I called to ask about reapplying for a credit card. He said I couldn't apply until after 6 months (Oct 2022) and said 6 mths would be 20th April, so it was "an option" for me to apply on 20th MAY. After going around in circles and him failing to see that what I was being told was illogical and his basic arithmetic was wrong, I asked for it to be escalated. He put me on hold, spoke with his supervisor and then said yes, I could apply from 20th April. Do they lobotomise their call centre workers, or was I really talking to a ChatGP bot over the phone? I had to call to (re)apply, so I did that this morning and now have to wait for FIVE to SEVEN business days for someone to get back with the pre-approval, after ascertaining that I meet their criteria - which they could establishing by summing the total of my accounts with them. Given their call centre guy couldn't calculate a date 6 months to now, I guess it must take 2 weeks to calculate more than 2 digit numbers. Moral of the story - find another bank before you become entrapped.
Comes with rewards and complimentary insurance for travel and extended warranty, etc. Everything that is charged to my credit card I get a little notification which is great. Direct debit is a bit of a hit and miss as it takes 3 days to clear however if you transferred payment yourself, funds are available almost instantly.
Worst card ever. Yes the rewards and no international fees are great, but it stops there. Cannot future date bpay, cannot link with other accounts so I need multiple cards. If you miss a payment, even by a day, they smash you with interest for 3 months, even if you have fully paid the card. No other provider I have seen does that. Usually you pay it off and the interest stops. Their call centre is open, but every time I ask for something I get “that dept is closed, call m-f 9-5”. Not worth the points.
The most greedy of them all. That's how they can pay their CEO over $20M a year.
Happy with my card, however wish they offered Qantas points.
Innovative and proactive. Excellent service across the board
Applied for C/C, after a month, got mail of application knocked back, even when I have $200k income. Then out of the blue, got email message my credit card is coming! Not sure can trust a crowd like this.
Only been with Macquarie for 6 months, so still 'testing the waters'.
I have my mortgage with them and got a credit card, they offer great rewards programme for every point you get, point accumulate and you can get vouchers from the top high street stores like Myers, David jones, job hi fi, Priceline etc. I'm very happy with them.
High fees and interest rate. Only one reward. Service is good.
I have had a bpay go wrong due to the web site dropping out it has been 4 weeks and still have not had money refunded. I rang the moment it happened and was treated like a fool which I am not. I rang again yesterday and they said it would be another two weeks very upset.
I had 11 unauthorized transactions made on this account. When I called the number to advise the provider of the problem, the person I eventually spoke to was helpful. However none of what he said he would do has happened a week later. When I call this number again, all I get is put on hold and no help! Who else can I report to?
The card doesn't have paypass which is annoying and the Macquarie website doesn't show live debits and credits - quite frustrating as I have to wait for the next month's statement to see what has and hasn't come out of the card.
Very good
**Saving based on the average difference in fees and charges over 3 years between the most competitive product Mozo can refer a consumer to and the average credit card product input by 6,863 consumers (average balance of $4,262 or balance transfer balance of $5,818, interest rate of 19.6% and annual fee of $36.50) who used the Mozo Credit Card Health Check tool between 1 January 2012 to July 2012.
Want more? Compare all 194 credit cards in the Mozo comparison engine.
Compare more credit cardsMozo gives you the inside story on the best banking, energy and insurance products as rated by thousands of real customers around Australia. We don't make subjective judgments, nor do advertisers influence our ratings. Although our reviews may be moderated to improve quality standards, they are moderated independently of any of Mozo’s commercial relationships.