Credit Cards/28Degrees Card

matchbox on 09/07/2013 - 15:12

I know there are a lot of threads out there about the 28 degrees card but can't seem to find the answer I'm after. I'm looking at getting a 28degrees card for all my overseas purchases (ebay/international estores etc) - this will be my first credit card. Can I buy something on the 28D card and then immediately pay it off? So there would be no interest? Also how does the 55 days interest free work? I'm planning to pay things off immediately after I buy them, I'm just sick of the awful paypal conversion rates. Sorry if this sounds like a stupid question but this is all really new to me. Thanks

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Comments

  • T-man on 09/07/2013 - 15:33

    You should go with Citibank debit card as it is the same 28degree card.

    • tanoshiiki on 09/07/2013 - 15:49

      A debit card is different to a credit card, as you get "credit" - access to someone else's money. In the case of 28D, you get at most 55 days (min 30 days) to pay the purchase off. You will be sent a bill every month. Make sure you pay the full balance or you will incur interest.

      If you have no intention, need or will be too tempted by credit, then go for the Citibank debit card.

      I personally prefer having access to the 28D, as it's always handy to earn just that tiny bit of interest before you have to really pay for it.

      • matchbox on 09/07/2013 - 15:55
        +1

        Thanks for the replies. I'm hoping it will improve my credit (will it even do this?) as everything I have purchased so far I have saved up for (car, laptop, tv etc). I will have no problems paying it either as I am not a big spender

        • tanoshiiki on 09/07/2013 - 16:02

          Well done on saving for everything.

          The credit score system works quite differently here compared to America and having a credit card won't improve your credit score.

          Not paying bills (any bill, e.g. electricity, gas, library fines, etc) on time will have a negative impact though.

        • matchbox on 09/07/2013 - 16:06

          Ok thanks, I didn't realise that about the credit score. In that case I just need something with the best conversion rate and no bank conversion fee!

        • ajd71 on 10/07/2013 - 10:07

          Actually, Australia is in the process of changing to a "positive credit reporting system" (from a "negative credit reporting system").

          What this means is credit agencies only used to be able to collect requests for credit (loans, credit cards applications) and the non payment of debts. As of recently they can now collect data about the timely repayment of debts (&bills ?), with a view towards building a profile of you based on how well you pay your debts. At this point I believe it's data collection only, when it will be used fora
          assessing credit is another story.

          From my understanding the US do this today.

        • matchbox on 10/07/2013 - 13:38

          That's really interesting, thanks! Will have to read more into it.

    • BarginHunter on 09/07/2013 - 16:01

      Do you get the same great overseas conversion rate as the 28degree card?

      • tanoshiiki on 09/07/2013 - 17:04

        Yes. Although it may not be exactly the same as Citibank uses Visa's rate and 28D uses Mastercard's rate, so there might some tiny ($0.001 level) differences.

        • matchbox on 09/07/2013 - 18:24

          so does that mean if I wanted this card I need to sign up to citibank and have an account with them?

        • antkey on 26/07/2013 - 19:45

          r they still offer no international fee?

  • emiko on 25/07/2013 - 00:18

    So is visa rate better or MasterCard better?

  • Lancerx on 09/09/2013 - 16:07

    hi guys, just to add on this topic. If i wish to withraw money from ATM oversea, i could just put my account into credit, and i won't be charged cash advance fee/interest, just ATM fee correct? Thanks

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