Since my fee-free-for-life Citibank Signature seems to have reasonable FX I'm wondering if it's worthwhile keeping the 28 Degrees card. Has anyone done a comparison recently?
Is It Worth Having The 28 Degrees Card Anymore?
[Deactivated] on 02/05/2015 - 20:41
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It's still good for overseas CC purchases. Why do you feel you need to get rid of it? If you don't use it there are no charges.
No currency conversion fees
It all depends whether you will buy anything denominated in a foreign currency. If you do, please note that Citibank charges an International Transaction Fee of 3.3% whereas 28 Degrees does not have that fee.
Perfect, thx appreciate the feedback
There is some logic in using the Citibank Signature card for O/S spend, depending on what you consider the extra points to be worth.
Personally, I consider them to be around break-even, so I'm still using my Bankwest Zero Platinum card for O/S spend. I like the way that pending transactions are shown with Bankwest. With Citibank, it's a bit of a waiting game.
I find the 28 Degrees card handy to use as a debit card overseas by putting my balance into credit and then withdrawing from the credit balance. No annual fees or silly charges…. The exchange rates used are just so-so but Australian banks and finance organisations are incredibly greedy with their foreign excnange rates (the "spread" either side of the "mid-rate" can be as high as 10 percent). In some countries where there is more foreign exchange competition the exchange rate may only be "loaded" by 1 or 2 percent.
Withdraws now have a fairly significant fee I think that's main change
Really comes down to how much you value the points.
OS transactions of the citi card cost you 3.3%, or 3.3 cents on the dollar.
You earn 4 points per dollar when transacting overseas, which when redeemed for cash back/giftcards, return at roughly 2.2%, or 2.2c on the dollar. Putting you behind 1.1c per dollar.Otoh, if you have better use for your citi points, like redeeming flights and such, then you'd be effectively buying krisflyer miles or velocity miles at 1.2c per mile. If you can get value out of getting those points at 1.2c, then you're better off using the signature card.
28 degrees says cash advances attract 3% or $4 fee would this include when you load your own cash?
Yep
It is all fine to compare the "return" of these cards vs points vs gifts. I for one have not been bothered with 28 degrees. I spend moderately overseas, with accommodation and food being my main expense items. Most places would accept my credit cards (I have myriad of them). By doing that I earn points, some up to 3 points, and interest free period. I have been happy with the exchange rate, no better or worse. Also remember there is buyers' protection when buying big items….. Also with Debit Cards, I never know the right amount to put in…
I dont have to worry about cash, but most importantly, I have one less card to carry. Travel light :-)
I also have a 28 degrees card AND a Citibank transaction account (can't remember the name).
I use 28 degrees for overseas purchases (online and when overseas), because it has no foreign transaction fees. Also, I have the shoppers protection insurance added, I pay no premium since I pay off my balance every month before end of statement period (I've successfully made a few claims already for stuff that went on sale)
I then use the Citibank transaction account to withdraw money while overseas, as it's fee-free to do so at Citibank ATMs (28 degrees charges a cash advance fee).
So personally, I think you should keep both, use both for shopping, but should also get the Citibank transaction account for cash withdrawals.
No fees for the citibank to withdraw cash? Do you have to load it up first? Also what is the conversion they use?
Citibank Plus is a debit card so you must have cash in the account to withdraw. The conversion rate is quite acceptable when compared to the official rate.
Are you sure, last time i pulled out cash from an ATM in Europe a couple years back and got charged more than what i would have using my commbank card
Since my comment posted more than a year ago, I've been overseas for few more occasions, and have used my Citibank card for all ATM withdrawals, I confirm that when using Citibank ATMs, no fees incurred. I can't comment on non-Citibank ATMs though.
I'm also know that Citibank uses no fees, 28 degrees was like that a couple years back then changed and started charing fees. I was surprised of the charges,they were higher than what commbank would of charged me
Does 28 Degrees charge a cash advance fee if I have a positive balance in the account (rather than drawing into my credit limit)?
Yeah
Bugger, thanks.
In the 'Rates & Fees' section of the details on their website it says there is a $2.50 payment handling fee, does anyone know what that's about? I've only just found out about 28 Degrees and trying to figure out if I should get one.
$2.50 I think is an in-person payment fee
Where is it mentioned that for Bpay payments they will start charging a an immediate fee? I have received my 28 degrees credit card statement on 06 May 2016 and in the bpay payment method, they have not made any mention of Bpay payment fee.
It was on the last page of the June statement that I received.
It sucks
I cannot seem to pay using BPAY on the 28degrees website to maintain a positive balance. They seem to be forcing us to pay the $0.95 fee for this.
If there are any work-arounds I'd appreciate some advice
I got this information on my statement in June 2016 Statement that Bpay will cost me $0.95 per Bpay transaction. Not good. I am keeping it for overseas trips only now.
Merged from 28 Degrees MasterCard
Hi all,
Has anyone used this card when paying overseas?
How competitive is the exchange rate? I read the foreign currency is exchanged to USD first then AUD so a bit worried.
Thinking of applying. I already have travel card from CBA and will bring some AUD cash from here, just in case.
Going to Vietnam and Cambodia btw.
Thanks.
It's the best card for overseas. Pretty much the rate you google is the rate you get. When I have checked my purchases say for $200, it might be $1.50 off what the Web says the rate is. (if withdrawing cash from atm though use citibank plus)
=(don't know`why i was downvoted
No clue either. Upvote!!
it's a good card for overseas. but as it no longer provides fee free ATM withdrawals then it can't be the best.
citibank or bankwest platinum offer fee free withdrawals at ATMs with very similar exchange rates.
I still use my 28 degrees when overseas and for aliexpress purchases.
I travel with a 28degrees card and citibank.
When using 28 and citibank at the same time overseas I find 28 degrees gives a slightly better rate (maybe difference between Mastercard and visa?) hence the qualifier for atm withdrawals using citibank
Been a few years since I was overseas with my 28 degrees card but when I was, it was the best exchange rate of any of my cards
USD first then AUD so a bit worried
Won't matter otherwise there would be arbitrage.
They use the Mastercard rate.Thanks guys. How competitive compared to exchanging in different shops overseas?
I would say better, shops aren't there to help you out. They would try and make money off you through the exchange.
I used to use 28deg as my primary but noticed my atm fees went up a few years back and it was about $10 with local atm fee to pull cash out. but i'm now on citibank debit card and they don't charge me an atm fee and its mainly local atm fee and any purchase i make with the card has no international transaction fees. Whirlpool has some additional discussion on the topic. 28 deg is now my backup.
I go overseas 3-4 times a year…don't bother notifying the anymore….only ever had 1 problem, they picked up that someone in Spain charged a couple of Internet Access plans to my c/card…they rang me, cancelled the card and I had a new one within a week. Fees are what they are, FX rates at time of transaction.
Get it. Best card for buying things on credit. Just don't use it for ATM cash withdrawals.
Those Commbank travel money cards are a rip off. Too many fees.
Best rates for shopping overseas. I even used it while at home when shopping overseas internet site. Try to use the Qantas or Virgin currency passport cards if you need to get cash out overseas.
Why are you using it in Australia?
I use it in Australia when I am buying items from overseas internet sites……
The 28 Degrees card is my main card when I go overseas, the rate is usually on par with the official rate, in fact it has been better than the official rate on few occasions.
I don't use it for ATM withdrawals though because of the fees, for this purpose I use the Citibank Plus card.
Isn't the Bankwest Zero Platinum Master Card strictly better now?
Same features:
- Zero international transaction fees
- MC sets the forex rate so no rip-off from the bank skimming some extra margin
Extra feature that 28 degrees doesn't have:
- Free travel insurance (pretty good insurance too from reading the PDS)
Correct me if I am wrong, but the 28 degreescard is free, whilst the Bankwest has an annual fee? Around $160?
I believe that is their Qantas rewards card?
The Bankwest Zero Platnium Master Card has no annual fee.
Thanks, something worth noting.
hey guys, i'm thinking about getting the 28 degrees card since my coles rewards card is pretty much useless as i don't shop at coles anymore. has anyone got their coles rewards card switched to 28 degrees card just by phoning the customer service without actually putting in a new application?
Is Coles card latitude financial as well?
It appears to be regardless of what the website says, since I got a phone call from latitude about my credit limit on my coles credit card only just 3 months ago.
Doubt it. LF manages the card brands and it's up to the vendors to set their own programs.
Yup, you were right. They replied to my message and said I would have to put in a new application :/
Is Citibank Signature fee free overseas?