28 Degrees - New $8 Monthly Fee (Effective 17/9/24). Alternatives?

ifcw on 07/08/2024 - 12:41
Last edited 09/08/2024 - 11:02 by 1 other user

Hey all,

Just got an email about the 28 Degrees Mastercard introducing a new monthly card fee of $8 per month, which is quite steep as I only use it for travel and YouTube Argentina.

Any other recommendations for alternatives?

28 Degrees Global Platinum Mastercard Credit Card Changes FAQs

Effective from Tuesday 17 September 2024, there will be some important changes to your Latitude 28° Global Platinum Mastercard credit card product. A card fee of $8 per month will be introduced and the interest rate on purchases will increase to 27.99% p.a. New features will be available including a new rewards program where you will be eligible for a $10 e-gift card every statement period when you spend $1,000 or more on eligible transactions within the statement period, and access to complimentary E-Commerce Protection Insurance and Purchase Protection Insurance.

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Comments

    • CodeXD on 07/08/2024 - 15:07
      +2

      Wish OP actually copy/pasted the email details for those of us who haven't received it.

      I found this link which has all the details, it is applicable to everyone (so everyone should have received the email) so even tho I haven't received the email I'm going to assume I am going to be impacted and take measure to cancel.

      https://latitudefs.zendesk.com/hc/en-au/articles/25970394220…

      • boomramada on 07/08/2024 - 15:22
        +1

        Fair enough, oh well, I don't think they ever made money from me even though I been using for a decade lol

  • Kabal on 07/08/2024 - 15:11

    Could the hackers always stealing customer data from them do me a solid and cancel my card for me. Thanks.

    • CodeXD on 07/08/2024 - 15:15
      +1

      Hey mate, there are quite a few Kabal in the leaks, can you please send me your full name, drivers license, and credit card number (inc cvc) so I can match it up and cancel for you.

      Thank you.

  • foxmulder on 07/08/2024 - 15:14
    +2

    I used Ubank Visa Debit for international purchases and overseas trips. I thought their rate is pretty good.

    28 degrees seems slightly cheaper around $2-3 per $1000. And yes I will cancel it if they do the monthly sub. Too bad. They have been great.

  • silenthillrocks on 07/08/2024 - 15:16
    +2

    Bankwest zero platinum credit card - no annual fee, no foreign exchange fee

    • CodeXD on 07/08/2024 - 15:22
      +5

      Also no travel insurance

  • Nalar on 07/08/2024 - 15:26
    +3

    There doesn't seem to be any mention of keeping Merchandise and Price protection.

    I sure as hell hope it doesn't convert to complimentary insurance.

    • OzBrogains on 07/08/2024 - 19:14
      +1

      If they don’t mention it then it hasn’t changed.

  • chiefbodge on 07/08/2024 - 15:27
    +4

    The stupid thing about this is I spend way over $1000 a month every single month so I'd get the gift cards but it's just too much of a PITA to remember to use gift cards. If only they applied it as a statement credit…

    • UltimateAI on 07/08/2024 - 20:46

      Read the conditions, my read is the $1k has to be spent with specific partners. ie: you can spend 10k a month, and not get the bonus.

      • bobs burgers on 08/08/2024 - 17:49

        Have you found what the eligible purchases are?
        Or what the gift card is?

        If the GC is usable like cash or Woolies or Coles, no biggie. Now they pay me to use their services.
        I'm hoping the eligible purchases are excluding bills, which is fine too.

        But I can't find any information on anything about it…

        • bamzero on 09/08/2024 - 10:38
          +1

          "Eligible transactions are based on the date posted and do not include cash advances, cash equivalent transactions, card fees or charges, credits, refunds, reimbursements, Shopper’s Protection premiums, interest and balance transfers into an account."

          I'd say any normal purchase transactions will be eligible.

          They are using EonX so will be the usual suspects. You can also accumulate the rewards (for 18 months) and cash out a larger gift card if you don't want to deal with a $10 GC every time.

          • bobs burgers on 09/08/2024 - 10:50
            +1

            @bamzero: Perfect, it's as I suspected with the transactions.
            I think I'm ok with your suspicion of the gift card provider and it looks good to me.

            I'll go against the trend and looks like I'll keep it for now.
            The value is still there for me. Technically they are giving me $2 to use their service and some protections.

            Thanks!

  • PerthectDeal on 07/08/2024 - 15:50
    +1

    So sad, just got the email and have had this card for many years.
    It was good for travel, I would load the card up for $5k in credit and use it overseas to draw Cash out of an ATM. Getting a great rate paying hardly anything in fees.

    Any recommended cards you can load money on and pay no or hardly any fees?

    • dajackal on 07/08/2024 - 15:59
      +3

      Macquarie debit card

  • shw01 on 07/08/2024 - 15:51

    Is it a good idea to use Wise as a replacement after cancelling 28 degrees? For online overseas purchases etc.

    • czechboi on 07/08/2024 - 16:08
      +2

      WISE for me is not a replacement as you need to load your own money. I used the 28 Degrees card especially for travel as it was a credit card and particularly useful for hotel holding fees which can take a few days after checkout to be refunded.

      • jace88 on 08/08/2024 - 23:04

        I don't mind loading my own money similar to any other debit card… so just debating between using my existing Macquarie debit card or potentially getting the Wise card and using that online.

  • DealHunterBD on 07/08/2024 - 15:58

    Bankwest Zero Platinum or Bendigo Ready, which one to go for? 🤔

    • bdl on 07/08/2024 - 16:01
      +3

      Bendigo, I won't deal with BW anymore after they made up their own T&Cs for a promotion to suit themselves

    • Flyerone on 07/08/2024 - 16:02
      +2

      Bankwest cancelling the free travel insurance as of 3rd September 2024.

  • Sheila Dealer on 07/08/2024 - 16:03
    +10

    I’ve had this card for years. It’s the only credit card I have in my name only. I’m now retired so applying for a new card I’m treated like a leper. Not happy.

    • PerthectDeal on 07/08/2024 - 16:10
      +2

      This seems so unfair, they advertised the card as no annual fee, they should not be able to introduce one.

      • spaiydz on 07/08/2024 - 16:26
        +3

        and one months notice… just unacceptable

    • bobsi18 on 07/08/2024 - 21:10

      my parents are in exactly the same situation, so trying to find a fee free card for them that be ok for retirement.

    • Porker on 08/08/2024 - 11:03

      Returning to the workforce should assist! J/K :p

      My retired parent is in the same position and we joke about the above.

    • Mad Max on 08/08/2024 - 17:14
      -1

      This is a huge problem for retired people. Existing fee free credit card start charging a fee and cannot get a new one. Yet a credit card is necessary for many things (car rental, hotel bookings, etc).
      You wait when they go full cashless…disaster.

      • eug on 10/08/2024 - 10:34

        Yet a credit card is necessary for many things (car rental, hotel bookings, etc).

        Do debit cards not work? e.g. Visa Debit.

        • rickb on 10/08/2024 - 13:49

          Yes and no.

          Debit cards can be used to pay for the accommodation and car rental. However, both require a separate pre-authorisation transaction (a bond in case of damages to the hotel room or car) , which can only be done on a credit card.

          • eug on 10/08/2024 - 13:59

            @rickb:

            However, both require a separate pre-authorisation transaction (a bond in case of damages to the hotel room or car) , which can only be done on a credit card.

            Ok, I don't know about other banks but my ANZ Visa Debit specifically says it can be done in its Visa Debit FAQ. I've never tried it myself though.

            • timhn on 10/08/2024 - 15:16

              @eug: It's can be done but I heard a story on a newspaper about a car rentals not accept debit cards as bond. It was in Europe and a long time ago so not sure that still a thing.

              My colleague was able to use debit card for pre authorised at hotels in Australia & NZ without problem.

          • CodeXD on 10/08/2024 - 15:25

            @rickb:

            which can only be done on a credit card

            This is not true, you can do the same with debit card. Issue is that it will subtract the amount immediately so you will have less usable money on that debit card until it is refunded back in. Whereas a credit card you don't need to pay off any pending transaction so you are essentially not using your own money for it. You can definitely still use a debit card as hotel bond.

          • Nom on 15/12/2024 - 09:14

            @rickb:

            which can only be done on a credit card.

            This is quite obviously untrue - Hotels and Car Rentals are available and used every single day by people who don't have a credit card.

      • ocular on 17/08/2024 - 14:03

        Been caught out in Manila and Hong Kong Hotels where loaded debit cards were rejected and had to resort to 28deg CC for preauthorisation. What happens in that situation if I use a domestic nab visa credit card overseas for preauthorisation and then the preauthorisation gets cancelled on check out and I pay with my nab rewards (ex-citibank ) debit card? Will my nab CC occur any extra fees?

    • scottishdave on 09/08/2024 - 14:56

      I'm in the same position. How does Bendigo Bank tree retirees when they apply for a credit card?

    • kmwa on 13/12/2024 - 12:29
      +1

      I totally agree about the difficulty in retired people getting credit cards.
      Without an income, the banks don't want to know you.
      All our credit cards are in my name, and my wife uses an additional card linked to my account (Coles Mastercard).
      The risk is that if I cark it, she won't be able to use any of the cards.
      Getting her a credit card in her name proved to be quite a challenge.
      What we did to prove her income was to crank up the monthly payments from her super pension to $3500 - this will give an Income Stream Schedule of over $36,000p.a. (Oddly, monthly payments of $3000 give an Income Stream Schedule under $36,000p.a. due to the way Centrelink works it out.)
      She applied to Bendigo Bank for a credit card.
      They took 3 months, and then said they also needed a bank statement showing income - fortunately by then, she had 3 months of the higher pension payments into our joint account, so she was able to provide it.
      So Bendigo approved her credit card. Now we can drop the monthly pension payments back to our normal frugal level.

      • roonie on 17/12/2024 - 15:38

        Agree. We’re in a similar position tho’ have an SMSF. Made the mistake with one CC provider where we said expenses = $X, income=$X which lead the provider to say “well you dont have anything to spare, so no! So when OZB pointed us to a different provider, this time we said income was still $X but we said that ESSENTIAL expenses were about half that and she was approved

  • DingoBlue on 07/08/2024 - 16:04
    +3

    CRAP this is a major issue for all my bodgy overseas subscriptions that wouldn't work on any other card.

    There are a few alternatives but only 28 degrees worked on anything.

    • Lister55 on 07/08/2024 - 19:14

      Oh God…. Same, I don't even know what to do…

      Why???? WWWWHHHHHYYYYY?

    • MaKa on 07/08/2024 - 19:39
      +1

      Yeah i was thinking the same thing. I have a YouTube subscription from my Mumbai holiday house. I wonder if my Bankwest card will work for that account, otherwise I am screwed….

  • MeesusEff on 07/08/2024 - 16:18
    +1

    Shoppers and merchandise protection will keep this going for the ones who are onto it. Merchandise protection has saved me many heartaches of broken screens, and my broken $45 bbt cup which they just accepted without a quote. Could probably change my main spending card to 28d instead of Coles to make up the spend

    • bdl on 07/08/2024 - 16:32

      So is this if you buy something on 28d card, if you break it when new, it gets replaced? I've had 28 degrees card since it was a wizard one, and never used the purchase protection :(

      • Nalar on 07/08/2024 - 16:37
        +4

        Ifnyou are still grandfathered you should go google the current price of everything you've bought on it over the last year.

        Personally I claim around 1k each year on paying full RRP then claim on sale.

      • MeesusEff on 07/08/2024 - 17:05
        +1

        Yes. I bought the duet 5 chrome book, and a week later I dropped it trying to show my husband something and the screen shattered on the edge. After getting a quote from Lenovo for $800 (I paid $697 for it) they just credited me $697. Did that for a Samsung tab as well. Get the most expensive quote, then go to a cheaper place to fix 😂 they just need 1 quote doesn't matter where from.

        If it's an item that can't be quoted, like I bought a bbt cup and dropped it and the lid broke, I called them and said, look it's unusable but I have no idea where I'm going to get a quote from. They just asked for a photo and then sent me the $45.

        Do you have the shoppers protection though?

        • Windows7forever on 07/08/2024 - 22:11
          +5

          No offense but you sound clumsy.

          • MeesusEff on 07/08/2024 - 22:57
            +1

            @Windows7forever: I'll own the Duet and bbt cup, but the rest are my 2 toddlers and husband 😂 I've had my cards for about 10 years though, think that's not too bad!

        • bdl on 07/08/2024 - 22:59

          thinking back, I think I obtained the card before they included the protection so may not have it

          • MeesusEff on 07/08/2024 - 23:03
            +1

            @bdl: They'll send out emails every few months saying 'you've got shoppers protection heres how to use it etc' if you've never got one before then maybe… Have you ever paid your card off late/not fully paid off and saw a shoppers protection charge?

            • bdl on 07/08/2024 - 23:33

              @MeesusEff: Nope, never - oh well, one step closer to me closing the account then :) thanks for your help

  • altomic on 07/08/2024 - 16:31

    interestingly, I just received a call from 28 degrees offering me their personal loan service.

    • bdl on 07/08/2024 - 16:33
      +8

      do the needful

    • CyberMurning on 07/08/2024 - 16:43

      how personal they can be? outcall okay?
      ups sorry was thinking of something else

  • Chemiluminescence on 07/08/2024 - 16:35
    +11

    End of an era, I've had this card as long as I've been on ozbargain - a travel staple. What a shame.

  • CyberMurning on 07/08/2024 - 16:55
    +3

    perfect timing soon need to refinance house to less cc is better.
    thank you (not) 28 degree may you are rest in peace soon
    wtf are you thinking to charge ppl with such a low feature card

  • CyberMurning on 07/08/2024 - 17:02

    damn have couple transx still pending..
    come on coles take the money i want to close this bloody cc

  • Bratam on 07/08/2024 - 17:13
    +1

    End of an era for me too. I’ve had this card since 2008 or even earlier. No way I am paying $8 per month fee. I recall when I joined they were bragging about “no fees ever” on this card. Anyone recall them promising something like this ?

  • Guybrush57 on 07/08/2024 - 18:09

    I never understood why credit cards are allowed to make interest of 27.99%pa yet individuals can only make up to 5.5%pa if they jump through hoops and even that gets taxed at the highest tax bracket you're in.

    • askbargain on 07/08/2024 - 18:55
      +3

      Feel free to start a bank offering 5.5% pa credit cards

      • Guybrush57 on 07/08/2024 - 19:17
        -8

        What's the reason for your poor attitude?

    • foxmulder on 07/08/2024 - 19:21
      +1

      I don't think you can compare the saving rate of 5.5% with credit card 28% - the fair comparison is what they get with home loan which according to Google averaging 6.27%

    • Maxxjet on 07/08/2024 - 19:53
      +4

      They offer unsecured lending as there is no collateral. The high interest rate is to compensate the potential loss.

      • Guybrush57 on 07/08/2024 - 20:45

        It's not exactly unsecured when they can place you into bankruptcy if you don't pay.

        • Windows7forever on 07/08/2024 - 22:13
          +1

          Not to mention the debt collectors which will be a constant hassle.

    • plmko on 07/08/2024 - 21:05
      +1

      Because apparently BNPL is evil and CC companies are very responsible.

      • Guybrush57 on 07/08/2024 - 21:07
        -2

        Weird hey. I got absolutely roasted above.

  • funsize on 07/08/2024 - 18:47
    +2

    Closing 28d defo. How annoying- got declined at Bendigo after 15 minutes filling out…. Gotta remove the credit info ban Illion, etc. Urgh…

    • cycleri3 on 08/08/2024 - 10:06

      Wait for your 28d to be cancelled, they ask for total credit limit, you might get it once this card is gone off your credit history.

  • AndyRates on 07/08/2024 - 19:04
    +1

    does this apply to people not received the email?

    • CyberMurning on 07/08/2024 - 19:56
      +4

      Everyone will. Dont doubt it just cancel and think later just like ozb rule

  • Maxxjet on 07/08/2024 - 19:51
    +1

    Anyone still hasn’t received the email? I can see all emails from latitude but there is no email on this matter.

    • CyberMurning on 07/08/2024 - 19:57
      -1

      Read above you

    • beaver2233 on 07/08/2024 - 19:58

      Yeah I haven't got one yet.

    • kerfuffle on 07/08/2024 - 20:45

      Same here

    • hippocrit on 07/08/2024 - 21:22
      +4

      From experience, they are most likely staggering the communications across their audience to control the incoming calls to their call centre. In addition to the emails, there will be some customers who aren't contactable by email so they are likely sending them a letter, which is a ~1.5 week turnaround (poofing, printing & post). So you'll likely get it in the coming days but I reckon call in if you have the time.

      This means that their legal team has approved a minimum 4 week notice period, which is SHOCKING for such a drastic change, especially after that data breach.

      EDIT: I just looked at their stock prices, no wonder they're desperate. Buttcoin is outperforming this company (2021-present).

    • tomorrows_angel on 08/08/2024 - 13:22

      I just got the email an hour ago. Was hoping somehow I had missed out.

      • CyberMurning on 08/08/2024 - 13:27
        +2

        your angel of luck is coming tomorrow not today
        repeat that everyday

      • Sterio on 08/08/2024 - 14:42

        Same

  • sk0rpien on 07/08/2024 - 20:06
    +4

    Massive decline from an awesome card with free international cash advances to an annual fee without good benefits, sad to see it go.

  • neonlight on 07/08/2024 - 20:09
    +4

    Macquarie bank. Your only choice. Need to load your money

    I cancelled my 28 degrees when they stopped allowing you to top up the balance and withdraw that overseas with no charge

    • mrhugo on 07/08/2024 - 20:29
      +2

      Yeah, that was a killer feature. Load up the card and withdraw from an ATM O/S to avoid the cash advanced fee. I'm still able to pre-load onto the BW card.

      There is a bit of a hack to load up money onto 28D card, in a nutshell, say the balance owing is $2000. You can in the app pay it off via the linked bank account, $2000 and then make another request for $2000 moments after. You will then see two line items in your account, $2000 each. After the 3 days both lots will be processed, the first to pay off the card, and the next will load up the card.

    • CyberMurning on 07/08/2024 - 20:30

      But Macquarie is debit its best to havw one debit one cc for travelling

      • PerthectDeal on 08/08/2024 - 20:13

        You can create many free account within Macquarie. You get a card for each. I call one holiday and transfer money to it from another Macquarie account before using. Assume you can draw money out from any ATM that accepts mastercard

        • shmoney on 09/08/2024 - 14:09
          +1

          That’s not the point.

          Credit cards have more protection and you’re not out of pocket for pending charges.

          • PerthectDeal on 09/08/2024 - 14:24

            @shmoney: Is that true? My uncle had money on his debit card taken by fraud and the bank instantly refunded the money the same as they did when I had fraud on my credit card.

  • soan papdi on 07/08/2024 - 20:13

    https://www.ing.com.au/credit-cards/orange-one.html

    If you apply for an Orange One Low Rate Credit Card and are approved for a credit limit of $6,000 or more, you will receive an Orange One Low Rate Platinum card with access to complimentary international travel insurance. Fees and charges are the same for both Orange One Low Rate Classic and Low Rate Platinum.

    If you do the ING dance, you get a 0% International txn fee too. To me, only downside compared to Bendigo is the $10 fee for an additional card.

  • oyster on 07/08/2024 - 20:14
    +1

    Do we think it's $8 per account, or $8 per card? I got a second card on the account for tapping on public transport overseas (2 people, need two cards). Was going to cancel the second card as soon as we get back anyway, but honestly- this is ruined.

  • mrhugo on 07/08/2024 - 20:22
    +1

    I have to stick around till September for the $50 Great Escape promo, https://www.ozbargain.com.au/node/849189

    After that's I'm going. It's a card that is dormant for 10 months of the year. Will use BW for oversea's transactions and have my Citi for international travel insurance + points.

    TBH, I've been wanting to get rid of the this card for some time as even for 2 months in the year it's only a backup. This change made that decision easier.

    Been a client for, maybe 18 years.

    • CyberMurning on 07/08/2024 - 20:32

      Me too. I think they hate us, old customers

      • smartazz104 on 08/08/2024 - 08:07
        +1

        Sounds like they don't want any customers full stop.

    • bdl on 07/08/2024 - 23:00

      $42 promo after monthly fee :(

  • RefusdClassification on 07/08/2024 - 20:34
    +3

    Thanks for bringing this up. I haven't received the email yet, for whatever reason. Someone should put up a page with all of the good cards compared: no annual fees, no cross-border fee (most cards are 3%), no exchange fees. Most of the legit games stores only charge Australians in AUD, but for keyshops and AliExpress and probably other sites, it is cheaper to pay in USD if you have a card without the extra fees.

    Credit cards make money off the fees they charge merchants, which seems to be around 2% of the transaction (does someone have the exact details?).

  • UltimateAI on 07/08/2024 - 21:10

    Any thoughts on "Ubank Spend Account". Just need a card with good exchange rate and no fees for overseas credit card purchases. ie: ChatGPT Plus \ Midjourney ect..

    • pandadude on 08/08/2024 - 09:34
      +2

      Ubank doesn't show the foreign currency spent. Only aud value.

      For someone who has 4 debit card who has the no foreign exchange surcharge there are better options.

      I would suggest for debit card Macquarie for Mastercard exchange rate and meBank for visa exchange rate. There are many no foreign exchange surcharge visa card.

      It's literally choose what additional benefit you want. Macquarie has the discount gift card. meBank has meHome which is the highest ongoing savings rate. HSBC lets you withdrawal free from within the HSBC network excluding some countries.

      HSBC is a little bit werid as they could use either the visa rate or hsbc rate. Hsbc rate is always worst then visa rate.

      Other debit cards. ING and Suncorp.

      Note Revolut and Wise has limited cash withdraw. Something to consider in cash society such as Taiwan.

  • saltysalt on 07/08/2024 - 21:13
    +1

    Canceling for sure. How about Revolut as an alternative?

  • hiaaron on 07/08/2024 - 21:19

    I have a wealth package with a CBA home loan and I am qualified for an annual fee waiver for the Ultimate Award card. Is this better than Bendigo or Bank West if not paying the annual fee?

    • sauce2k on 07/08/2024 - 22:33

      What pot are u smoking ?

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