Latitude 28 Degrees $8 per month starting September 2024

[asterix]

Here we go, following the loss of the waived foreign currency fees on the Coles Rewards Mastercard I just received this email from Latitude:

Important information regarding changes to your Latitude 28° Global Platinum Mastercard credit card.

We are writing to let you know about upcoming changes to your Latitude 28° Global Platinum Mastercard credit card. Please note that from 17 September 2024, the following changes will take effect:

• A card fee of $8 per month will be introduced. You will see this fee being charged on your first statement from 17 September 2024.
• Interest rates on purchases – your rate will increase to 27.99% p.a.
• Under a new rewards program, you will be eligible for a $10 e-gift card every statement period from participating retailers when you spend $1,000 or more on eligible transactions in each statement period.
• Complimentary Purchase Protection Insurance will now be available covering the loss of purchases due to accidental damage or theft – up to $1,500.
• Complimentary E-Commerce Protection Insurance will now be available covering the non-delivery and/or incomplete delivery of online purchases – up to $1,500.

All other existing card features will remain the same. If, at the date of this change you are under a temporary hardship arrangement, the terms of any variation notice previously provided for that temporary arrangement will continue to apply until they end.

As with all products and services, please consider if this product is still right for you. If you would like to contact us or for further information about this change including cancelling your card or having credit funds paid to you, please visit latitudefinancial.com.au/28degreeschanges.

 

[asterix]

I've had the 28 Degrees card since 2005 when it was the Wizard Clear Advantage MasterCard. It is a backup card which I barely use since it doesn't earn points, so I think I'll cancel it.

 

[RooFlyer]

I've had the 28 Degrees card since 2005 when it was the Wizard Clear Advantage MasterCard. It is a backup card which I barely use since it doesn't earn points, so I think I'll cancel it.

Haven't held it as long, but only got it for its FX fee free feature. As my NAB card, Velocity earning card also has this now, 28 degrees can go.

 

[kpc]

This is really annoying news...I have had the card for 18 years when it was a Wizard Clear Advantage Mastercard. You uaed to be able to load the card into a positive balance, and then withdraw cash from ATMs OS fee free. I now only use it as a backup card to BW for OS purchases as it does not earn any points. Does give 1 free flexiroam e/Sim card per card member per year, valid for 14 days with 3gb data ...I think I will need to look for the scissors!

 

[OZDUCK]

I have only had it for about 15 years basically only for o/s use. I will also probably drop it as well.

 

[cjd600]

I have only had it for about 15 years basically only for o/s use. I will also probably drop it as well.

Same, it only came out when o/s
Bye bye 28deg

 

[Ansett Nostalgic]

This is really annoying news...I have had the card for 18 years when it was a Wizard Clear Advantage Mastercard. You uaed to be able to load the card into a positive balance, and then withdraw cash from ATMs OS fee free. I now only use it as a backup card to BW for OS purchases as it does not earn any points. Does give 1 free flexiroam e/Sim card per card member per year, valid for 14 days with 3gb data ...I think I will need to look for the scissors!

I got it for the same reason and used it in that fashion too.

Time to cancel!

 

[levelnine]

Wow, from hero to zero in only a few short years.

 

[snabbu]

This is really annoying news...I have had the card for 18 years when it was a Wizard Clear Advantage Mastercard. You uaed to be able to load the card into a positive balance, and then withdraw cash from ATMs OS fee free. I now only use it as a backup card to BW for OS purchases as it does not earn any points. Does give 1 free flexiroam e/Sim card per card member per year, valid for 14 days with 3gb data ...I think I will need to look for the scissors!

I too loved this feature of loading into a positive balance then withdrawing it anywhere else in the world for free. Would be interesting to see the cancellation rate is over the next month or so.

 

[MEL_Traveller]

Sooooo… what do people use in AU for foreign transactions then? I used 28 degrees for everything from buying Aeroplan points to hotels to taxes on aeroplan tickets, etc. The $8 a month will be a hit, but still much cheaper for me than using one of my other cards with a 3% fee

 

[kpc]

Sooooo… what do people use in AU for foreign transactions then?

Bankwest World MC...no Fx fee but AF of $270 but get 1 Qf pt per $1 spent up to $5000 per month then unlimited 0.5 Qf pt per $1 spent

 

[Scr77]

I use CBA ultimate card. It is poor for AU spend but great for OS spend. 1 krisflyer point or 1.5 VA point per dollar for overseas spend, with no OS fee. It also has a monthly fee, but is waived if you spend more than 4k per month. I think the smart card has a lower spend threshold to have the monthly fee waived.

The point earn rate is not limited unless you spend over $10k per month

 

[Coops1]

That new fee is a shocker, so will cancel.

1. I use to like front loading and cash advance feature pre 2014.

2. Was great protection for hotels, flight and larger overseas transactions, that don't sit comfortable on revolut or citibank/NAB debit cards

3. Now this is gone and Coles fx fee is now charged, will be waiting for other like options in the comments.

 

[Flashback]

This has been sitting in my drawer since I moved to the UK in 2010.... time to close it down!

At least it's easy enough to do online via https://servicecentre.latitudefinancial.com.au/manage-account

 

[Jacques Vert]

3. Now this is gone and Coles fx fee is now charged, will be waiting for other like options in the comments.

I cancelled my Coles card and opened a NAB Rewards Visa (not the QF one). Fee free for o/s spend and it earns 1.5 NAB points per $ (works out to 0.75 VA or 0.5 Kris/CX). The earn rate is not great but I got a nice sign-on bonus.

 

[luckypierre]

Sooooo… what do people use in AU for foreign transactions then? I used 28 degrees for everything from buying Aeroplan points to hotels to taxes on aeroplan tickets, etc. The $8 a month will be a hit, but still much cheaper for me than using one of my other cards with a 3% fee

Sensible to consider retaining if you’re spending $$€€££ overseas, before hastily reaching for the scissors. Just another example of why “Life wasn’t meant to be easy”

 

[Flashback]

I thought about using the eSIM benefit before cancelling, but no, couldn't be bothered. Bye bye! It's been a long time; probably the longest card held other than my fee-free for life Citibank Visa.

 

[Coops1]

I cancelled my Coles card and opened a NAB Rewards Visa (not the QF one). Fee free for o/s spend and it earns 1.5 NAB points per $ (works out to 0.75 VA or 0.5 Kris/CX). The earn rate is not great but I got a nice sign-on bonus.

But there is an annual fee for that? I presume a couple of hundred dollars. The points earn for overseas spend for most wouldn't be worth it. $96 a year for 28 Degrees might still be worth it

 

[chemtrails]

Will probably give it the chop. Was good to have around and pull out for trips but probably now only worth it for those going regularly or regularly purchasing OS.

 

[luckypierre]

Here we go, following the loss of the waived foreign currency fees on the Coles Rewards Mastercard I just received this email from Latitude:

Important information regarding changes to your Latitude 28° Global Platinum Mastercard credit card.

We are writing to let you know about upcoming changes to your Latitude 28° Global Platinum Mastercard credit card. Please note that from 17 September 2024, the following changes will take effect:

• A card fee of $8 per month will be introduced. You will see this fee being charged on your first statement from 17 September 2024.
• Interest rates on purchases – your rate will increase to 27.99% p.a.
• Under a new rewards program, you will be eligible for a $10 e-gift card every statement period from participating retailers when you spend $1,000 or more on eligible transactions in each statement period.
• Complimentary Purchase Protection Insurance will now be available covering the loss of purchases due to accidental damage or theft – up to $1,500.
• Complimentary E-Commerce Protection Insurance will now be available covering the non-delivery and/or incomplete delivery of online purchases – up to $1,500.

All other existing card features will remain the same. If, at the date of this change you are under a temporary hardship arrangement, the terms of any variation notice previously provided for that temporary arrangement will continue to apply until they end.

As with all products and services, please consider if this product is still right for you. If you would like to contact us or for further information about this change including cancelling your card or having credit funds paid to you, please visit latitudefinancial.com.au/28degreeschanges.

And I assume the monthly charge will be $8 plus the $1.95 payment handling online fee ? Which means you would have to prepay $$ to avoid a monthly payment fee?