Latitude 28 Degrees $8 per month starting September 2024

[moa999]

Nothing here yet (and I do put some spend on the card most months)

 

[burmans]

Text message just in: "SYD, we're waiving 12 months of the monthly card fee on your Latitude 28º Global Platinum Mastercard....."

I suspect someone in Corp has had an "Oh, fu$k moment".

A bit late after they have been slammed with account closures!

 

[MEL_Traveller]

Got the email too. It’s a bit strange… and the reasoning - that a busy shopping period it coming up - is also strange.

I didn’t think about the volume of account closures. I wondered if they were weeding out customers who don’t really use the card? But the loss of income sounds more likely.

 

[moa999]

t the loss of income sounds more likely.

What income if they were fee free?? Unless some were paying interest.

 

[OZDUCK]

Also got the email. We will be in Singapore and Malaysia in October so it will be useful

 

[PLANT]

I got the 3 months interest free on 28 degrees so no email or txt for 12 month free ....
Looking at cancelling tomorrow...

 

[burmans]

Got the email too. It’s a bit strange… and the reasoning - that a busy shopping period it coming up - is also strange.

I didn’t think about the volume of account closures. I wondered if they were weeding out customers who don’t really use the card? But the loss of income sounds more likely.

Well the two aren’t unrelated! While I’m sure some who cancel don’t use the card and have as some sort of backup, there’s enough evidence both here and on Ozbargain/Facebook to indicate that some who cancelled did use their cards, and hence cancelling means loss of income.

 

[NM]

No SMS or email for me yet. And I have the card a hammering in the USA during August. Just received Sept statement yesterday with about $5.5K owing.

I did receive the 3 months 0% interest offer.

I also received an email confirmation that I have qualified for the "Great Escape" offer for $50 credit if spending equiv of A$1650 or more in a foreign currency between 3 June and 31 August. The $50 credit is to be applied within 30 days, so I figured I am better off holding the card for another 30 days even if it costs me an $8 fee. But if I am offered 12 months fee waiver, then I'll hold the card for 12 more months and continue to use it for overseas transactions.

 

[MEL_Traveller]

What income if they were fee free?? Unless some were paying interest.

Merchant fees?

 

[oz_mark]

Merchant fees?

For the card issuer it is the interchange fees.

 

[MEL_Traveller]

For the card issuer it is the interchange fees.

Yes, that one!

 

[burmans]

What income if they were fee free?? Unless some were paying interest.

There are always people who don't pay in full each month (sometimes deliberately).

 

[Legoman]

No SMS or email for me yet. And I have the card a hammering in the USA during August. Just received Sept statement yesterday with about $5.5K owing.

No SMS or e-mail here either and my card is currently sitting with $7.5K owing on it. So I guess that makes me an unvalued Latitude 28° Global Platinum Mastercard customer then?

Honestly, with this about face, they need to rename the product the 180° Global Platinum Mastercard! How can anyone take this mob seriously now? Talk about a clown show. Nobody can trust a single thing these clowns say.

We take our customer's data security seriously and it's our highest priority - until we let oursleves get hacked by REvil and then all bets are off!

We're introducing a monthly fee - except now we're waiving the fee for everyone to stop the bleeding.

Honestly, these guys are joke.

 

[Legoman]

You won't want to hear that a 10-year UK Driving Licence renewal costs £14

Seriously? I can't be coughd looking it up for myself, I'll take your word for it.

 

[Viridis]

Seriously? I can't be coughd looking it up for myself, I'll take your word for it.

Driving licence fees

Fees to renew, exchange or amend your full or provisional driving licence - or to get a duplicate if yours has been lost, stolen or damaged

www.gov.uk

 

[RooFlyer]

Honestly, with this about face, they need to rename the product the 180° Global Platinum Mastercard! How can anyone take this mob seriously now? Talk about a clown show. Nobody can trust a single thing these clowns say.

Maybe not, but you could be a bit cynical and use that to your advantage, and hang on to the card until just before the fee is introduced and then benefit from the volte face, to your advantage.

In my case it allows me to delay my application for a replacement, HSBC card until a better bonus is offered by them.

 

[Legoman]

Maybe not, but you could be a bit cynical and use that to your advantage, and hang on to the card until just before the fee is introduced

Already doing that. Card is currently wearing three council property rate notices on it which are due for payment 10 Oct which is 5 days before my first monthly fee gets charged (statement date = 15th). Getting full 55day interest free on the council rate notices ($7.5K), then will apply for two more 3 month extensions of free Amazon Prime using the two supp card numbers, and will apply for three 3GB free Flexiroam Global eSIMs, and then cancel (if I don't get the waiver SMS/e-mail)

 

[LondonAussie]

Honestly, with this about face, they need to rename the product the 180° Global Platinum Mastercard! How can anyone take this mob seriously now? Talk about a clown show. Nobody can trust a single thing these clowns say.

It may have been strategic - they get rid of all the people who don't make them much money, maybe even lose money on. People who only use it as their backup travel card and cancel ASAP to avoid any fees.

Or perhaps the exodus was far greater and quicker than they predicted so they had to stop further losses.

 

[Legoman]

It may have been strategic - they get rid of all the people who don't make them much money, maybe even lose money on. People who cancel ASAP to avoid any fees.

Or perhaps the exodus was far greater and quicker than they predicted so they had to stop further losses.

I'm going with Theory B. No way are they clever or strategic enough to think of theory A. If they were thinking about offing the users who cost them money, they would for sure have specifically targeted the legacy users who are gaming the grandfathered price protection insurance to the absolute max every single month buying cough they don't need at high prices, just so they can claim the difference back on insurance and then not paying the fee for the insurance by paying off the card balance owing before the statement gets issued. One helluva lot of work, but there are an extraordinary number of card holders doing it and then gloating about their "wins" over on Whingepool. If they wanted to cut costs, they would cut off that loophole entirely and end the grandfathered insurance swindle that doesn't even exist anymore for new card applicants.

Nope, that's not it. What's happened is they've massively underestimated the intensely negative reaction and consequence of introducing the fee. They didn't expect the news articles, the media attention, the mass cancellations running at upwards of 20,000/week since it was announced (that's how many applications Bendigo Bank are getting now for their equivalent card - they are swamped and overwhelmed). This backflip with triple pike is them desperate to stop the bleeding.

 

[marks]

Just got the email as well. The cancellation will be delayed for another 12mths.

Did anyone ring to complain and get the fee waived?