Latitude 28 Degrees $8 per month starting September 2024

[Flashback]

I just received an email asking for more information WTF???



WTAF?

I wasn't paying a lot of attention, but I don't think I had to provide the credit limit when putting in the close request using the online form.

When I log in now, it shows Close account request In progress

I've fired back a response saying please close the account, and any failure to close the account along with this email will form part of my complaint to the ombudsman and AFCA.

Did I miss a step, or was I sleep-typing through the close account process?

No, seems random. Mine showed in progress from the time I submitted to the time I posted my message above.

 

[clifford]

Good to see that Latitude is now showing its true self.

Caveat Emptor.

 

[BJReplay]

No, seems random. Mine showed in progress from the time I submitted to the time I posted my message above.

I just discovered that the Android app (and, I am guessing the iPhone app also has this) has an account closure request (and it also confirms that I didn't have to provide my credit limit - it's the same form).

It worked instantly this time.

From Account settings, you should be able to get to Account Closure Request.

Provide name, DOB, mobile (and reason), choose if you want a confirmation email, and submit.

I got the requested and closed emails immediately, and the card was removed from the app a minute or so later.

 

[SG787]

Had, and used this card since 2005. Cancelled it yesterday.

 

[equus]

Another long term holder and cancelled.

Couldn't put all foreign purchases through it anyway (need to put car hire on Amex for insurance etc.) and the difference between zero foreign currency and the 3 to 3.5% but earning points, less all the hassle with dealing with Latitude means that the benefit would be marginal at best. Has saved dollars in the past, but the writing is clearly on the wall (and with the cyber breach, confidence is low and risk has to be considered).

 

[SYD]

Just for reference, although my cancellation is process - I was still able to redeem and park the Flexiroam eSIM. May as well...... Just need to remember to use it on my next trip, if my normal SIM doesn't include it (I have free roaming in 71 countries anyway).

I can confirm that you will have until 31 Dec to use the freebie Flexiroam Global eSIM (3GB/25d) if you order it before cancelling* your card.

*if you’ve already cancelled you still might be able to order via the Flexiroam app. It retails for about US$25.

 

[Kangol]

I need to call to inform them of overseas travel and am number 159 in queue

Edit: just looked and I don't need to anymore

https://latitudefs.zendesk.com/hc/en-au/articles/11168753911825-Travelling-Soon

 

[Mischief1]

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.

I really don’t get this. The primary reason for having this card (low transaction fees on os purchases) has now been counteracted by the monthly fee. So they will lose many, many customers (including me). I would have thought after the security breach Latitude would be working to assist clients not drive them away!

Post automatically merged: Aug 12, 2024

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

Wise.

 

[oz_mark]

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

Casting the net revealed few credit cards that were annual fee free, and had no international transaction fees.

Found:
Bankwest Platinum Zero

 

[georgie23]

Bendigo bank also has a fee free option
There is a good page summarising the credit and debit options at ozbargain - not sure if its ok to link the page - if not please accept apologies and I will remove link

Debit & Credit Cards with No International Fees - OzBargain Wiki

www.ozbargain.com.au

 

[twentyfive]

Casting the net revealed few credit cards that were annual fee free, and had no international transaction fees.

Found:
Bankwest Platinum Zero

Looks like a direct replacement to 28degrees. Zero annual fee, no points earned.

No annual fee credit card | Zero Mastercard® | Bankwest

The Bankwest Zero Mastercard range offers no annual fee, even on Platinum credit cards. Find out more about the additional benefits and apply online. Other fees may apply.

www.bankwest.com.au

 

[BJReplay]

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

As others have said, BankWest Platinum as a credit card is also no fee, no transaction fee, Mastercard rate.

Debit: Macquarie Transaction Account earns 4.75% on deposits, and the debit Mastercard has no fees, no transaction fees, and Mastercard rate.

Ditto Ubank Visa as a Debit (but no interest on transaction account, but you can move money from savings to transaction instantly) - not as convenient when traveling, but OK for occasional purchases. I'm not convinced that Visa rates are as good as Mastercard.

Finally, if you spend enough each month ($2,000), CBA cards are effectively fee free, Mastercard wholesale rate, and come with some good extras (though the value of those have been downgraded recently), and earn points. I currently hold CBA Ultimate ($4,000 minimum spend to avoid $35 monthly fee), but will either downgrade to Smart Awards ($2,000), or swap to HSBC Premier if the application goes through with instant premier status.

 

[Bundy Bear]

I just discovered that the Android app (and, I am guessing the iPhone app also has this) has an account closure request (and it also confirms that I didn't have to provide my credit limit - it's the same form).

It worked instantly this time.

From Account settings, you should be able to get to Account Closure Request.

Provide name, DOB, mobile (and reason), choose if you want a confirmation email, and submit.

I got the requested and closed emails immediately, and the card was removed from the app a minute or so later.

Thanks for the link, I probably cancel, I may use in the US for October before cancelling, and eat a couple of $8 x 2 fees,


Interesting received this via linkedin.

Dear Bundy Bear.

As an employee of XYZ corporation, you can open up a world of opportunity by becoming a member of HSBC’s Employee Banking Solutions and be part of a network that can provide you with an enhanced level of banking, exclusive offers, and a deeper level of service.

If you’re taking a trip overseas soon and don’t want to be paying fees, then consider the which card best suits your needs. With some cards you could be paying up to 3% on international transaction fees for every purchase or cash withdrawal. So, put your HSBC Everyday Global Visa Debit Card in your wallet or load it on your phone and spend fee-free1 overseas.
With the HSBC Everyday Global Account, you can spend fee-free wherever you go:
· $0 international transaction fee
· Make fee-free withdrawals from HSBC ATMs around the world
· No need for separate accounts for different currencies. Open one account to hold, transfer, and spend in up to 10 currencies: AUD, USD, GBP, EUR, HKD, CAD, JPY, NZD, SGD, and CNY (currency restrictions apply).
· Lock in competitive HSBC Real Time Exchange3 rates anytime, anywhere on the HSBC AU Mobile app.

And remember, you can also use your card for everyday banking - pay your bills and deposit your salary with no monthly account fees1, all with the convenience of a Visa Debit Card.

Apply today at link removed.

Don’t forget to mention you’re a member of HSBC’s Employee Banking Solutions when applying to enjoy all the benefits.

Not sure if this could be better, hopefully someone can give me good or bad news.

 

[bdl]

Attempting to close via app...

"Sorry, there was an error creating your close account request. Please try again later."

 

[Subharpoon]

Closed!

 

[Gold Member]

I need to call to inform them of overseas travel and am number 159 in queue

Edit: just looked and I don't need to anymore

https://latitudefs.zendesk.com/hc/en-au/articles/11168753911825-Travelling-Soon

LOL, I reckon at least 150 of those in queue were there for the same reason as you were

I wonder if those still holding the card when the monthly fees hit will be eligible for the mercurial Latitude rebate program that seems to be targetted to a very small percentage of members.

 

[RooFlyer]

Finally, if you spend enough each month ($2,000), CBA cards are effectively fee free, Mastercard wholesale rate, and come with some good extras (though the value of those have been downgraded recently), and earn points.

Ditto the NAB Signature Rewards card (not the QFF version), but monthly spend to get rid of the monthly fee is a bit higher. Its my main card on my current Africa trip - never thought I'd say that!!

 

[Jacques Vert]

Ditto the NAB Signature Rewards card (not the QFF version), but monthly spend to get rid of the monthly fee is a bit higher. Its my main card on my current Africa trip - never thought I'd say that!!

Same with me. Previously used the CitiPlus for ATMs and the Coles Rewards M/card for purchases. Currently in France using the NAB replacement for the CitiPlus and NAB Rewards for purchases. Both have no o/s transaction fees and I get points on the Rewards card.

As you say, you would have thought that NAB would become my goto bank for travelling?

 

[Loretta Roe]

I have been a long time user of the MasterCard 28% credit card way before Latitude took over - this was a great credit card to use with no monthly / annual fees and this is the reason I applied for the card in the first place.

Now there is a $8.00 monthly fee (annual fee of $96.00) plus $1.95 to BPAY. In addition to that there is also an increase to their interest rate of a ridiculous amount of 27.99% - I guess they are not making enough money and need more by adding a monthly fee and increasing their interest rate.

To further antagonise its customers you cannot talk to anyone from Latitude except to go through their overseas phone contacts which is very annoying as their English is not comprehensible at times - they do give you a bunch of useless benefits though which would rarely be used and if you spend $1K per month then you can waive the monthly fee.

I will be closing down this credit card as the fees and charges are only going to increase as every organisation and authority squeezes the poor consumer dry despite of being aware of the current cost of living and how everyone is suffering from the effects but no one wants to hear that so its time to close my 28% card.

 

[VPS]

I have been a long time user of the MasterCard 28% credit card way before Latitude took over - this was a great credit card to use with no monthly / annual fees and this is the reason I applied for the card in the first place and now there is a $8.00 monthly fee (annual fee of $96.00) plus $1.95 to BPAY. In addition to that there is also an increase to their interest rate of a ridiculous amount of 27.99% - I guess they are not making enough money and need more by adding a monthly fee and increasing their interest rate - to further antagonise its customers you cannot talk to anyone from Latitude except to go through their overseas phone contacts which is very annoying as their English is not comprehensible at times - they do give you a bunch of useless benefits though which would rarely be used and if you spend $1K per month then you can waive the monthly fee - I will be closing down this credit card as the fees and charges are only going to increase as every organisation and authority squeezes the poor consumer dry despite of being aware of the current cost of living and how everyone is suffering from the effects but no one wants to hear that so its time to close my 28% card.

Welcome to AFF - lots of people agree with you