Macquarie Gold Card
Macquarie Investment Management Ltd and American Express have announced a co-branded Gold Charge Card wil which allow customers to earn competitive interest rates and premium card benefits on the money they use to pay their bills.
In an Australian first American Express will adapt its Gold Charge Card solely for customers of Macquarie's Cash Management Trust (CMT). To be known as the Macquarie Gold Card, it will carry Macquarie's logo, American Express branding and offer all the benefits of an American Express Gold Card.
The partnership will provide American Express with a new established distribution channel of financially aware consumers and also provide Macquarie CMT customers with access to a internationally recognised premium credit card. The move also changes the traditional nature of CMT's which are usually marketed as accounts for investment purposes. The Macquarie CMT now competes with regular linked transaction/savings accounts with features such as the new Gold Card but also 24 hour telephone banking, direct debits and credits, periodic payments, internet banking and the availability of personal cheques.