Black category credit cards typically offer extensive benefits and higher purchase limits than less robust cards, but the bank is also more selective when it comes to approval. Macquarie Black Card may be the best choice for you.
We’ll explain the details of the application process, check the requirements, and see if you fit the profile of those who can apply for this card.
Requirements for those interested in applying for Macquarie Black Card:
- You must be 18 years or older
- Available only to Australian residents
- Have a good credit rating: this means not having outstanding debts or having applied for multiple credit cards at the same time, among other information the bank may consider.
- A taxable income of at least AUD 70,000 per year
Additionally, this credit card is designed to serve a select group of the bank’s clients, so it is not available to the general public.
You must have a new or existing home loan to associate with the card or be a private or business customer of Macquarie Bank.
Be prepared to provide some documentation
Part of the approval process involves passing the bank’s credit assessment, and for that, you’ll need to provide essential details:
✔️Gross Annual Salary: State the total you earn in a year before any deductions, such as taxes. Bank statements and payslips that show your earnings can be helpful. This information helps assess your repayment capacity and determines the initial limit.
✔️Monthly Expenses: Your commitments such as rent, insurance, and other bills, for example, help the bank better understand your financial responsibilities and how your budget is distributed.
✔️Current Employer: A bank consultant may ask you for the address and phone number of your workplace. It’s a way to verify the stability of your income source.
✔️Self-employed or Retired? Understand what is assessed: Include your accountant’s details if you need to confirm your financial statements.
✔️Driver’s Licence Number: Although not mandatory, providing this information can make the identity verification process easier.
How to Submit Your Application on Macquarie Black Card:
- Log in to Macquarie Online Banking or Macquarie Mobile Banking with your username (email or mobile number) and password.
- To ensure the security of the process, your identity will need to be verified, so keep your identification document close.
- Enter the “Live Chat” in the bottom right corner of the screen to speak with a bank professional who will assist you in processing your request.
- Select the product you wish to discuss, in this case, tap on “Credit Cards” to start speaking with the agent.
- The time it takes to receive a response will depend on submitting all the necessary documentation and the time needed to complete the assessment, but once everything is in order, you will receive an email.
And it’s always worth remembering that you should never share sensitive information, such as your password, in live chat or with others, okay?
Useful Contacts
📞Macquarie Credit Card: 1300 150 300, available 24 hours a day, 7 days a week.
📞Management Account: 1800 806 310, from 8 a.m. to 7 p.m. (Sydney time), Monday to Friday.