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28Degrees Mastercard Limited Time Offer - 2 Fee Free Cash Advances (New Applications Only)

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28Degrees Mastercard Limited Time Offer - 2 Fee Free Cash Advances (New Applications Only)
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kbk on 30/06/2016 - 18:20 28degreescard.com.au (298 clicks)
Last edited 30/06/2016 - 18:22

For those who do not have a Citibank debit card and for those who want to relive the moments of fee free cash advance from 28Degrees (although you have to apply for a new one to avail the offer).

Top up with your money over the credit limit and draw it out for free.
Overseas ATM fees might still apply.
Remember not to draw a cash advance without topping it up as it will immediately incur interest.

From the website:
Apply for a new 28 Degrees Platinum MasterCard and if approved between 22 June and 22 September 2016 we will waive two cash advance fees for withdrawals at overseas ATMs up until 31 December 2016. Interest on cash advances will apply at 21.99% charged from the date of the cash advance.

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closed Comments

  • glengood on 30/06/2016 - 18:29
    +7

    Worth noting that they now charge for paying your account outside of their website. The payment system on their website is OK but you can only use it once every 5 days, and can only pay off the current balance, which seems to lag a few days behind your actual spend. If you have Shopping insurance, its now easier to get hit with the fee as you might find yourself unable to pay in the 5 day window between your last payment and the insurance fee calculation date.

    • SBOB on 30/06/2016 - 18:42

      they now charge for paying your account outside of their website.

      huh?

      • glengood on 30/06/2016 - 18:44
        +1

        "Payment handling fee
        $2.50 (in person)
        $0.95 (online)
        This excludes payments made via the Online Service Centre."

        • SBOB on 30/06/2016 - 18:47
          +4

          so BPAY from my bank to them to pay a bill now costs $0.95?

          Crazy crazy times..

          I keep this card as a backup, so might be time to get rid of it

        • scuderiarmani on 30/06/2016 - 21:17

          @SBOB:

          Wtf???? I use this card as a daily. Now I'm going to be slugged 95c each bpay?

        • bob19 on 01/07/2016 - 05:12

          What is Online Service Centre? How do you make payments via it?

        • RockyRaccoon on 01/07/2016 - 10:31
          +1

          @bob19: Just log on to your account and you will find the option on the front page. Its an authority to direct debit your bank account. You can set it up automatically, or as most prefer for a one off payment.

          No real difference from BPay, except you have to go thru the 28 degrees portal, rather than your bank.

        • bob19 on 01/07/2016 - 13:31

          @RockyRaccoon: Thanks a lot. I guess, one off payment will be the way to go to avoid "insurance" fees.

    • INFIDEL on 30/06/2016 - 18:44

      Could direct debit. No fees - just checked statement :-)

      Never had any problems with payments in years of doing that with 28degrees.

    • Vladdo on 30/06/2016 - 18:49
      +1

      I just went to pay off $100 from my bank account onto my 28 degrees card, and it was fine. Seems I can enter in any amount. Is there any time limit on when the 95 cent fee for a bank transfer comes into effect? Also, there seems to be no security whatsoever on 28 degrees side, as it lets me enter in any old BSB/Acc no, therefore I could effectively steal someone's money.. or, they get an overdrawn fee from their bank.

      This whole 'Latitude' takeover seems like it might be the death knell for what was a good card/services. Also, i didn't realise that the interest rate has gone up to 21.99%…. yeouch.. Think it might be time to look for a new credit card provider.

      • bluesky on 30/06/2016 - 20:59
        +1

        11 July - the 0.95c payment comes into effect.

    • EarlyBird on 30/06/2016 - 19:37
      +1

      Does this payment handling fee only apply to new account? I haven't received any letter informing me about any changes to their T&Cs.

    • squanchy on 30/06/2016 - 19:38

      Any link? Can't find that fee anywhere.

  • chill on 30/06/2016 - 18:39
    -6

    2 free??

    It use to always be free

    2 free Bpay payments as well?

    • incipient on 30/06/2016 - 19:01
      -1

      This is a cash advance. Cash advances are never free, and are a horribly effective way for the bank to make PILES of money from you

  • UNO on 30/06/2016 - 18:49

    I am looking at closing my card with 28 degrees. I don't see how it would cost them $0.95 to process Bpay from a different bank.

    • serrin on 30/06/2016 - 18:59
      +2

      For anybody else looking to jump ship from 28D, Bankwest's Zero Platinum also has no fourex fees. Doesn't do cash advances like the 28D used to before 2013 though. But no fees (annual or paying online) or stupid rules about paying before the day for shopping insurance etc.
      Need to earn enough to apply for the platinum one however as the gold and regular zero have forex fees.

      • lplau on 30/06/2016 - 20:55

        is there any comparisons?

  • incipient on 30/06/2016 - 19:03
    +1

    For forex cards, the Citi bank one is the way to go; granted it's not a credit card, but it's a super simple, no fee, no worries, way to go.

  • Osiris on 30/06/2016 - 19:28
    +1

    Any other good forex cc besides the bankwest? Wasn't there meant to be a Macquarie or ANZ card coming that offers no intl trans fees

  • pandamonster88 on 30/06/2016 - 20:01
    -2

    Fee Free does not mean interest free..

    Cash advances charge interest right from the second you withdraw your cash…"Interest on cash advances will apply at 21.99% charged from the date of the cash advance." It is definitely not something that anyone should plan to do especially when there is the Citibank card which does not require any credit requirements.

    • sween64 on 30/06/2016 - 20:18

      You won't be paying interest as you've taken out your own money not credit.

      For example. The credit limit is $6k. You haven't used the card at all. You transfer $500 to the account. The balance is now $6.5k. You withdraw $500 from an ATM. 28 Degrees don't charge any fees or interest.

      • pandamonster88 on 30/06/2016 - 21:11

        Im comparing specifically the offer with other offers on the market. You have unlimited interest free withdrawals with a Citibank card where as this offers you two cash withdrawals. In your case, you dont even use your credit card which is the core of the product. You are turning it into a debit card.

        Im pointing this out as I dont want people falling into the trap. Most people do not have the financial literacy to realise that no fee does not mean no interest.

        • serrin on 30/06/2016 - 21:37
          -1

          That's all fine and dandy, but in regards to the cash advance function of the two cards, I've only ever been able to use the Citibank debit visa card at Citibank ATMs overseas. There's only one Citibank in New Zealand, which is ok if you're in Auckland, but utterly useless if, let's say, you're in Dunedin. There's a handful in Tokyo and 2 in Kyoto. Citibank also have a 100000¥ daily limit for no good reason as well.
          If someone can tell me how to get the Citibank card working in a another bank's ATM overseas, I would be greatful.
          The 28 Degrees card works on foreign ATM's, including some random Czech ATM at the airport. Two withdrawals isn't a lot, but it's better than having to travel 30min to go find an ATM.

        • pandamonster88 on 30/06/2016 - 21:58
          +1

          @serrin: I've been to Tokyo and every 7/11 store has an ATM that facilitates the use of the Citibank Debit card. There are more than a handful.

          Im pretty sure you can use withdraw cash from any ATM which is connected to the Mastercard or Visa interchange but you will incur fees if your bank is not on the ATM's logos.

          If you are going to random Czech ATMs and doing two large ATM withdrawals for your whole trip, I'd be surprised they dont block your card for suspect fraud.. lol

        • sween64 on 30/06/2016 - 22:18

          @serrin: I withdrew money from ATMs in Wanaka from my Citibank account without any problems.

        • RockyRaccoon on 01/07/2016 - 02:38
          +1

          You compare the Citibank card to the 28 Degrees card. The only Citibank card with the fee free benefit is the Citibank PLUS card.

          As Sween64 says you dont pay if you load the 28 degreees card up with cash. Just like you do with Citibank PLUS card as its a debit card. - you cant get any cash out unless you have put money in the account.

          If you use a Citibank Credit card you also pay hefty fees for cash withdrawal

          The point being cash withdrawals from ANY CREDIT card tend to attract hefty fees.

          Smart Ozbargainers use

          28 degrees for Credit transactions Overseas**
          Citibank PLUS Debit card for cash Withdrawals OS

          Fee free for only two withdrawals is a very very limited benefit with a this or ANY credit card.

          ** alternatively there is also a BankWest product with similar benefits (but no 2 withdrawals fee free)

      • SBOB on 30/06/2016 - 21:20

        didnt 28degrees close this loophole with pre-loading and withdrawing to avoid cash advance fees?

        • sween64 on 30/06/2016 - 22:18

          They did. Now they've offered it as a limited deal.

    • kbk on 01/07/2016 - 12:43
      -1

      I made that clear in the post

  • Mad Max on 01/07/2016 - 08:54
    +2

    Yes but only 2 times for new cards. Then you pay a fee. Hardly worth the effort of getting the card for that

  • coxymla on 01/07/2016 - 10:56

    Too bad this is for new applications only. My 28degrees has been in credit since I went on holiday but forgot to take it along a few years back.

  • INFIDEL on 01/07/2016 - 14:01
    +1

    As shown on our June statement…
    Notice of Variation to your credit contract
    Effective from 11th of July 2016

    The terms relating to the payment handling fee will change from

    'A payment handling fee will be charged to your account each time you make a payment to your account, except that no fee is payable for payments made by mail, by direct debit or by BPAY®'

    to

    'A payment handling fee will be charged to your account each time you make a payment to your account, except that no fee is payable for payments made by mail, direct debit or via the Online Service Centre'.

    The payment handling fees are $2.50 (in person) or $0.95 (online).
    The paper statement fee is increasing from $2.00 to $2.50.
    This change was advertised in The Australian Newspaper on 10th May 2016.

    Still free to Direct Debit
    Payment Options.

    • Gooddeal21 on 13/07/2016 - 08:14

      I just checked my June statement I don't have anything like this

      • INFIDEL on 13/07/2016 - 08:58

        Depends on your billing cycle I guess. It was actually in my May statement (received in June). So check earlier statements.

        • Gooddeal21 on 14/07/2016 - 05:43

          I checked again and indeed on my May statement it's there. So how do we pay now ?

        • INFIDEL on 14/07/2016 - 08:01

          @Gooddeal21:
          As I've suggested, Direct Debit is free & automated (my choice - monthly balance paid on last possible day from my bank account), or online at their Service Centre. See payment options link above.

        • Gooddeal21 on 15/07/2016 - 01:52
          +1

          @Infidel: Thanks

  • mobius on 02/07/2016 - 10:34

    What about existing customers!

  • jabbairc on 13/08/2016 - 01:48

    I just got hit with this fee (95c), and I paid off the outstanding just now, so get hit again after realising what's going on!

    Anyone had luck getting this fee waived? at least for the existing ones, learnt the lesson now! aaaaargh!

    • bluesky on 13/08/2016 - 01:55

      Definitely no harm giving them a call. Considering this fee is still a relatively new one, and it is your first time encountering it, they might waive it on goodwill grounds.

      • jabbairc on 13/08/2016 - 02:02
        +1

        thanks, that's what I'm hoping for here! yes 95c is not much, but it's the principle + I've been a loyal customer!

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