Latitude 28 Degrees $8 per month starting September 2024

[MARTINE]

Yep, we do the same but next trip (other than Bali) is Japan and it's a first. Have already scoped out the ATM at the airport as only a couple accept overseas cards. Wise card. Already topped up in Yen was it was 105. We have some real unique currencies that are likely never to see light of day again. We aren't in a hurry to go back to Russia or Saudi Arabia. And shekels for Israel.

I put the roubles in my souvenir tray with favorite hotel room keys and other somesuch ie my Ansett lounge cards. Japan is probably one place my cabdriver trust factor is very high!

 

[BJReplay]

Japan is probably one place my cabdriver trust factor is very high!

I once had a Kyoto taxi driver turn off his meter because he got lost (as you probably know, Japanese addresses can be "Interesting"), and didn't want it running while he tried to find my destination.

He refused my cash tip.

I would trust them with my life.

 

[Legoman]

Whilst I am nowhere near retirement age, maybe my strategy is to get as many low cost CCs just before retirement, and just leave them in the drawer until they are needed as the cards get “evolved”?

This is exactly what I did while I had a job with well known reputable employers (big blue-chip companies) and had decent income and constant collection of official looking computer generated payslips that couldn't be questioned or argued. I went nuts with CC applications back in the days before doing this hurt your credit score and before credit scores even really mattered. Back in the days of lo-doc loans and when all the issuers were throwing whatever freebies they could at everyone to steal market share off each other.

Needless to say, those days are well and truly over and probably never coming back. If I were just entering the workforce now, I'd probably get really familiar with debit cards and learn how to maximise their benefit to me, because I can only see credit cards getting harder and harder to get and less and less beneficial. I ended up with 12 of every flavour imaginable. I had Amex, Diners, Mastercard, Visa, Discover, BC Card, RuPay, UnionPay, JCB and multiples of some. All of them were annual fee free (one of my personal rules).

Over the years I've lost all the esoteric ones. Only have Master/Visa/Amex left now and down to 6 remaining. When this 28° one goes, that will be five. I expect my other MC is going to go too towards the end of next year to take me down to four remaining.

 

[Legoman]

A small word of advice out there to anyone intending to do as I am and leave cancelling the card right up until just before the first $8/mo fee is charged. In my specific case, my statement date just happens out of pure coincidence to be 2 days before they are introducing the fee on 17 Sep. This is extremely fortuitous in my case, because it means I can charge all my rental property council rates to the card just after my August statement was issued, thereby utilising the entire 55 days interest free. Those charges will then appear on the September statement which is issued 2 days before the monthly charge starts up. That Sep statement is then due for real payment on 10 Oct, which leaves 5 days to cancel it before copping the first $8 fee.

Now that 5 days is in reality probably not going to be enough because of various built-in delays such as the balance must be zero before a cancel request can be processed. The clearance of a direct debit payment takes a few days, the restoration of full account credit after payment takes a few days, there is a weekend in between 10 and 15 Oct, Latitude take a few days to process a closure request etc.

All of which means that actually actioning a closure request between 10 and 15 October is probably not going to happen, even though to anyone with a working brain, 5 days should of course be at least 4 days and 23 hours more than enough time to complete this simple administrative task.

There are other issues at play here too of course. It is in Latitude's vested interest to not action the closure request quickly, because the more they can string it out, the more charges they get to impose, so I cannot expect Latitude to expedite the closure at all. Quite the opposite in fact. Also there's technical issues they can use to delay as well, such as their spectacularly unreliable website and phone apps, which are down more than they're up and so frequently have error message banners on them, it's not even joke-worthy.

Oh look, there's one there right now in fact


Also, their last Latitude app update locked out all but the very latest phone OS versions to be able to run it, which of course cuts out my phone as I'm not going to buy a new phone just so I can install an app for a card all I want to do with is cancel. I'm therefore stuck with the website only for cancelling which has had that error message on it for the last three consecutive days.

Anticipating all this future pain and suffering, I have started laying the groundwork and papertrail for the inevitable dispute when they charge their $8 fee to my account because I wasn't able to cancel it in the 5 days between zeroing the balance owing and the new statement issue on 15 Oct. I won't put the entire e-mail here, but it ends like this:

If I am unfairly prevented from closing my account by the forced or unforced actions of Latitude Finance prior to the charging of the first monthly fee, then I fully expect that fee and any consequential fees from its non-payment will be reversed by Latitude Finance.

And just because they don't publish any real external e-mail addresses to contact them on, I can confirm the following three do work and you will get a response from them. Everyone can guess that the domain name is always going to be @latitudefinancial.com
The e-mail addresses are therefore:
complaint
disputes
customerresolutions

 

[BJReplay]

various built-in delays such as the balance must be zero before a cancel request can be processed.

My elderly father has run into this exact issue. Balance: $0. Available Balance: Credit limit minus last payment. Ability to close account: denied.

It isn't just balance must be $0, but they must have cleared it back to available.

As you say, allow a few days.

 

[Legoman]

Ability to close account: denied.

Fortunately, you've got all the time in the world to wait until that rectifies itself, whereas I'm going to be squeezing it right up to the brink and I fully expect that not everything will align perfectly to make it happen and then I'll get my October statement with an $8 charge on it (or perhaps not, since I've just charged $7,000 to it in council rates), so maybe it will be immune from the charge for the first month at least?

 

[travelislife]

Another one who has held it since wizard days. Cancelled! Would love to see the stats on cancellations since the annoucement!

 

[burmans]

I pay for almost everything on my phone, so opportunities for my card to be defrauded are very rare (since it's a different number).

The last two times it has happened have been when I've managed to completely flatten my phone while having to hotspot off it while travelling for business, so pay for a cab ride with a card. Both times in Australia. Both times in Sydney. Most of the time in Sydney I'd be taking the train to the airport, too.

What blows my mind is that on both occasions, I've got a receipt from the cabbie (work trip, claimable), so on both occasions, police have been involved. The card companies have no hesitation in following up - they can see if you pay with your phone or card, so can see that you haven't used your physical card for 12 months, the first time you use it is in a cab, and then it's suddenly being used to buy apple gift cards in San Franscisco. They'll reverse the charge, and happily work with the police to provide details. Cabbie can't say "wasn't me" when the credit card issuer can prove physical card has never been used before that cab ride, or since (and not used online either - paypal as the intermediary).

Cabbies (again, not all cabbies™) have physical access to their machines, so can, unfortunately, easily add skimming capabilities to readers.

What’s a ‘cab’, is that a bit like Uber! Joking of course but harder to rip you off on Uber.

 

[Legoman]

What’s a ‘cab’

Taksi

 

[Ansett Nostalgic]

Closed mine promptly and even got 9c transferred to my bank account. LOL. not sure how I had that surplus balance but whatever.

 

[Cynicor]

Fortunately, you've got all the time in the world to wait until that rectifies itself, whereas I'm going to be squeezing it right up to the brink and I fully expect that not everything will align perfectly to make it happen and then I'll get my October statement with an $8 charge on it (or perhaps not, since I've just charged $7,000 to it in council rates), so maybe it will be immune from the charge for the first month at least?

I suspect you are worried about nothing. Most banks and credit cards easily refund your last charged fee if you close it that same month. They just reverse it and close it. You’ll need to call but I should take all of about 10 min.

 

[SYD]

You’ll need to call but I should take all of about 10 min.

You’ve not dealt with Latitude…!

To protect their Call Centre stats, there’s an automatic hangup after about 30 mins. So you can be on hold for 29 mins, get to say “hello” and they disconnect you. Rinse and repeat…

 

[Legoman]

Closed mine promptly and even got 9c transferred to my bank account.

What method did you use to cancel? Phone app? Website? Call and speak to human?
I only ask because the conventional wisdom is that any automated process will immediately reject if you have any outstanding balance on the account at all (either +ve or -ve)

I suspect you are worried about nothing. Most banks and credit cards easily refund your last charged fee if you close it that same month. They just reverse it and close it. You’ll need to call but I should take all of about 10 min.

I did not know this, thanks. I've never closed a credit card before, so have not experienced the pleasure. Calling though, while superficially sounding nice and easy, has been made as traumatic and difficult as possible (deliberately) as part of the built-in delay companies enjoy when they have a vested interest in dragging out something as long as possible and especially until after fees and penalties have kicked in. It's always made to sound incredibly easy and carefree whenever someone says, "just give us a call" until you go to do that very thing and quickly find actually speaking to a human who can help is in fact almost impossible.

You’ve not dealt with Latitude…!

To protect their Call Centre stats, there’s an automatic hangup after about 30 mins. So you can be on hold for 29 mins, get to say “hello” and they disconnect you. Rinse and repeat…

Yep, exactly my experience with most companies these days, not just Latitude. You know things have gotten bad when you have to lodge a complaint with the relevent ombudsman service just to get them to answer the phone! I've noticed increasingly these days a creeping new reality too. Companies are being so hammered with ombudsman complaints, they've started even outsourcing their complaints departments to external handlers. Both AMP and NAB for example when you complain about them to AFCA, will respond via their external complaints department which comes with all the right looking logos and contact details, but when you actually start conversing with them, they slip up and reveal they're not actually on-the-books employees of the banks in question, or even departments of the banks in question. They are sub-contracted off-site handlers of their complaints.

 

[Cynicor]

It’s true I haven’t dealt with latitude for a few years now; but I churn credit cards and have done many a phone cancellation in my day. I’ve found the process for cancellations more seamless than when things go wrong etc, and I hope Legoman you have a simple time of it too!

 

[Legoman]

In my mind's fantasy, Latitude are gonna be really surprised and regret their greedy money grabbing move by introducing this fee, when I suddenly cancel the card right after charging $7,000 to it the month before and carrying it for the entire 55 days interest free.
and yes, I do know this is a complete fantasy. Latitude don't give a flying toss about me or my credit card account

 

[TheRealTMA]

Have cancelled our cards because of fee since not using the card much anymore but I note this “New features will be available including a new rewards program where you will be eligible for a $10 e-gift card every statement period when you spend $1,000 or more on eligible transactions within the statement period, and access to complimentary E-Commerce Protection Insurance and Purchase Protection Insurance.” So if you use the card regularly it’s some compensation.

 

[kpc]

Yesterday in Livingstone, Zambia my BW World MC was declined for no apparent reason (was working before and after)....I had to use my backup 28 degrees MC...I was planning to cancel this 28 degrees card but now have to think twice.

 

[Legoman]

Have cancelled our cards because of fee since not using the card much anymore but I note this “New features will be available including a new rewards program where you will be eligible for a $10 e-gift card every statement period when you spend $1,000 or more

Unfortunately, the life-admin work that will be required every single month to stay on top of that just to cancel out and negate the $8 monthly fee, will be way too much to bear for all but the most time-rich people with no hobbies and no other interests to bother with.

Just thinking of what would be required makes my head hurt.
Have to make sure to spend $1,000 on nebulous "eligible" vendors via card within qualifying period
Have to remember to claim E-gift card from a nebulous list of participating vendors
Have to remember to spend E-gift card at qualifying vendors before it expires
Then of course there are all the inevitable fights you will have to have along the way when Latitude fail to honour the E-gift card when you do spend $1,000. When the E-gift card gets lost in the mail and never arrives, and when the vendor you wanted the gift card for has suddenly exited the scheme and there are no longer anymore vendors you want to spend with.
Then of course there will be the fight when Latitude exercise their right to change their T&C's at any time without notice and close down the whole ponzi altogether without bothering to tell you.

I could maybe handle doing that once, in a real pinch if I had to and a gun was being held to my head, but the prospect of needing to do all that every single month forevermore, is a 100% walk away clause.

Keeping in mind too, that even after you've done all this admin, you're still not getting anything for free. All you're doing is cancelling out the ridiculous $8 fee for keeping the card!

 

[BJReplay]

Yesterday in Livingstone, Zambia my BW World MC was declined for no apparent reason (was working before and after)....I had to use my backup 28 degrees MC...I was planning to cancel this 28 degrees card but now have to think twice.

This is when zero international transaction fee debit cards are great as backup. You don't use them, unless you have to. Also travel cards that you can carry, but don't load and use, unless you have to.

For example, CBA travel cards cost nothing to acquire and load with AUD.

If you suddenly need money, you can load them (albeit not with Zambian Kwacha) more or less instantly.

I wouldn't be paying $96 a year for just in case, I'd be using a debit card for just in case.

 

[MEL_Traveller]

In my mind's fantasy, Latitude are gonna be really surprised and regret their greedy money grabbing move by introducing this fee, when I suddenly cancel the card right after charging $7,000 to it the month before and carrying it for the entire 55 days interest free.
and yes, I do know this is a complete fantasy. Latitude don't give a flying toss about me or my credit card account

They’ll say ‘thank you’ for the $70 card handling fee paid by the merchant. Which of course is passed on via higher charges or a surcharge to the customer

Unfortunately, the life-admin work that will be required every single month to stay on top of that just to cancel out and negate the $8 monthly fee, will be way too much to bear for all but the most time-rich people with no hobbies and no other interests to bother with.

Just thinking of what would be required makes my head hurt.
Have to make sure to spend $1,000 on nebulous "eligible" vendors via card within qualifying period
Have to remember to claim E-gift card from a nebulous list of participating vendors
Have to remember to spend E-gift card at qualifying vendors before it expires
Then of course there are all the inevitable fights you will have to have along the way when Latitude fail to honour the E-gift card when you do spend $1,000. When the E-gift card gets lost in the mail and never arrives, and when the vendor you wanted the gift card for has suddenly exited the scheme and there are no longer anymore vendors you want to spend with.
Then of course there will be the fight when Latitude exercise their right to change their T&C's at any time without notice and close down the whole ponzi altogether without bothering to tell you.

I could maybe handle doing that once, in a real pinch if I had to and a gun was being held to my head, but the prospect of needing to do all that every single month forevermore, is a 100% walk away clause.

Keeping in mind too, that even after you've done all this admin, you're still not getting anything for free. All you're doing is cancelling out the ridiculous $8 fee for keeping the card!

Or, like me, you could not worry about any of that. I spend $1000 a month on the card, so I’ll prolly get the choice of gift cards.

If I don’t make the spend one month and have to pay $8, well so be it, but i almost always do.

So $10 a month for woollies gift cards, totals $120 a year. Spend $96 on fees. Figure i’m in front