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

  • witsa on 07/08/2024 - 21:31

    I think it depends on whether you use it for travel or you just use it all the time.

    And also whether the gift cards include Woolworths or a supermarket. If so then it's probably not that bad cause you're going to spend that money anyway

  • weee on 07/08/2024 - 21:51

    we have a 28d laying around purely for overseas expenditure purpose which hasn't been used for years as we can't afford any overseas travels anymore, haven't received any email regarding this though, but for the time being I assume it affects everyone who is a 28d customer?

    • sauce2k on 07/08/2024 - 22:34
      -8

      If you haven’t received an email, they can’t charge you

      • hiaaron on 07/08/2024 - 23:05
        +3

        what pot are you smoking? It is on their website.

        • sauce2k on 07/08/2024 - 23:15

          Oooooooohh thank you Mr CBA wealth package 😭😭😭

          • hiaaron on 07/08/2024 - 23:19
            +1

            @sauce2k: It is not what you think. It is a $395 package that reduces your interest rates. https://www.commbank.com.au/home-loans/wealth-package.html.

            • sauce2k on 07/08/2024 - 23:21

              @hiaaron: I know what a cba wealth package is lol.

              FYI I was referring to if the email communication hasn’t hit your inbox, they can’t charge you. I’ve worked in a bank before and refunds were given because certain cohort of clients didn’t get communicated although they had mentioned the charges on the website.

              • odysseus on 09/08/2024 - 18:35

                @sauce2k: That doesn't mean they won't notify him.

                The charge doesn't apply from today (or less than the notice period) so there is still time. Hence you can't say he won't be charged.

  • nige0090 on 07/08/2024 - 22:39

    If I cancel in the app, will they take a final payment via the direct debit to clear the outstanding balance?
    Or do I need to manually make a transfer, to clear the balance before cancelling??

    • bdl on 07/08/2024 - 23:32

      ask them and let us know :)

    • spaiydz on 08/08/2024 - 01:27
      +2

      I couldn't cancel in the app with an outstanding balance. I've just sent money thru but when that lands I'm out.

      • timhn on 08/08/2024 - 06:05
        +1

        If you use BPAY to pay for your cc, they'll charge $1.95 fee. Just found out today.

        • Lucille Bluth on 08/08/2024 - 06:54
          +6

          That's why you do it through the online service centre for free as a direct debit. Different from bpay

          • nige0090 on 08/08/2024 - 10:57

            @Lucille Bluth: I want to pay out the balance today so that I can close the account today, not wait for my monthly DD.
            In the service centre I don't think that I can do this via DD today.
            I think I need to add a bank account, have it verified and they BPAY from there.

            I'm in the phone queue to find out.

            • CodeXD on 08/08/2024 - 10:59

              @nige0090: You can manually make additional payment by using bsb/account number. It will take a few days but the monthly charge doesn't come into effect until 17th September so you still have time.

              Don't pay them any more money than you need to by BPay

              • nige0090 on 08/08/2024 - 11:14

                @CodeXD: Yes this is what I do with my other CCs.
                Where is this documented for Latitude? i.e. what BSB do I use?

                btw, CSR 'dropped' call before I was able to ask my questions :-(

                • CodeXD on 08/08/2024 - 11:16

                  @nige0090: Log onto latitude and then click 'pay my account' from navigation. Follow that to enter the bsb/account number you want to pay from

            • Lucille Bluth on 08/08/2024 - 11:10
              +1

              @nige0090: You add your bank account for the dd, they deposit two small amounts, you enter them to verify the bank. Then you can do a manual payment via DD for any amount and avoid the bpay fee. You don't need to wait after it's verified. You'll have it verified by next business day.

              • nige0090 on 08/08/2024 - 11:18

                @Lucille Bluth: Hi, is this the same as paying by BSB/Account as mentioned by @CodeXD above?

                With my other CCs, I think that I can make payment from any random bank to my CC BSB & Acc.
                I didn't need to register & verify a specific bank.
                I think…

        • CyberMurning on 08/08/2024 - 09:21

          yeah i was like wtfukkkk ??? but too late

          • Amazingly on 08/08/2024 - 19:22

            @CyberMurning: Another twist is I have a DD with my end of month statement on 18/8 an amount of $122 but have spent another $2.20 since.

            So I went to manage DD in the app to change it to $124.20 and you can't enter cents wtf!

            It looks like I need to add the other method, my savings account and get it verified so I can pay the $124.20 and close it.

            I'm imagining paying by BPay and getting the $1.95 fee and then you pay that $1.95 fee by BPay and get another fee charged! :D

  • mrdevil on 08/08/2024 - 00:00
    +1

    As others have said, they can stick that where the sun doesn't shine. Hope they're ready for the avalanche of account closure requests. I've had my card for a good decade or so (it's the only actual "credit" card I have)… will be closing my account too in the coming weeks.

  • Lancerx on 08/08/2024 - 00:50

    What sort of gift card will be provided?

  • Brianqpr on 08/08/2024 - 08:02
    +1

    Have had this card for many years, since the good old days when you could stack it with a credit balance and get the best exchange rates when overseas. Have only kept it to use while overseas.

    They can stick the fee where the sun doesn't shine, I will be cancelling.

    Looking at the new terms, you can get $10 per month voucher/credit if spending $1k per month on "eligible" purchases. So they're probably trying to offload unprofitable customers, like me and many others on here.

  • seraphim2017 on 08/08/2024 - 08:08

    Thanks for posting this OP. Didn't receive any email. Will be cancelling mine today!

  • Brianqpr on 08/08/2024 - 08:11
    +1

    If it hasn't already been mentioned, they've also added a fee to their Creditline card. Just noticed a $5.95 fee on mine. Used it years ago to buy Apple stuff interest free and only kept it in case I ever wanted to use it again. Another one to cancel.

    Latitude's complaints team is going to be very busy for a while.

  • grasstown on 08/08/2024 - 08:13

    I do like it for overseas. I might keep it a bit . But a hassle to spend $1k a month on the card

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

    “ You can also save the $10 Latitude Reward and accumulate more for a later redemption. ”

    “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.”

    Get occasional cash back offers as well

  • Brianqpr on 08/08/2024 - 08:38
    +2

    If you're angry enough and didn't receive notification, you can lodge a complaint and take them to AFCA.

    My employer a while back changed term deposit early withdrawal conditions because everyone was trying to ditch TDs when interest rates started rising (rather than accept they got it wrong locking in a lower rate).

    We got a heap of complaints, many of whom went to AFCA. Technically by putting a notice in the Australian newspaper (which nobody under 70 reads) we'd met disclosure requirements, but it costs banks money to have cases at AFCA even if they win, so often they'll settle lower value stuff. Can be an easy way to get a few hundred bucks as the AFCA case fees for the banks are a few grand if the case progresses to a decision.

  • messiah1095 on 08/08/2024 - 08:48

    Well that's lame, just applied for one of the Bendigo cards.

  • Trekky on 08/08/2024 - 08:51
    +1

    I got the email. I have no choice but to keep this card, as I don't have a regular income and can't get new credit cards… And I prefer using this when I travel then my debit cards.

    • t0087669 on 08/08/2024 - 09:20
      +1

      What’s wrong with fee free debit card?

      • CyberMurning on 08/08/2024 - 09:22
        +1

        yep debit is better you only can spend what you have.
        this country need to stop borrowing when you cant afford

      • CodeXD on 08/08/2024 - 09:27
        +8

        When travelling and paying for hotels, they will usually put a hold charge on the card incase something goes wrong, similar to a rental bond. When using credit card, this amount will remain pending so you won't need to pay it off in the monthly statement. For debit cards, it will instantly take it from your account, and then hotels will refund you the amount back after 3-5 days.

  • TurnipHead on 08/08/2024 - 08:57

    Bar the CBA ultimate/smart awards anyone know of any cards with no international transaction fee that has a sign up offer?
    https://www.ozbargain.com.au/node/858312

  • tencents on 08/08/2024 - 09:19
    +3

    I only use it for YouTube India.
    Just closed it and gonna sign for Bendigo.

    • askbargain on 08/08/2024 - 11:02

      Just for a few dollars you open a credit card???

      • tencents on 08/08/2024 - 12:15

        Well used it for the Adobe clouds Lebanon at one stage.
        Opening a new card just in case some deals pops up for stuff like this.
        Plus if I need to use it when going o/s.

  • ukulele on 08/08/2024 - 09:24
    +1

    I have not seen the email? is it across the board? (also checked spam)

  • eek on 08/08/2024 - 09:30
    +1

    Damn. Only just activated my new cards to get ready for a 1 month trip overseas in September. Only did it because Coles Mastercard started adding fees to international transactions. That card is getting cancelled before it comes up for renewal next year. Have had the 28 Degrees card for over 10 years. Bankwest zero platinum credit card it is now….

  • tabitha731 on 08/08/2024 - 09:30

    Immediately closed my account as soon as I got the email.. who are they kidding will pay $8 a month ?!

    Good bye! It was good while it lasted. I guess it's cash all the way now

    • Lucille Bluth on 08/08/2024 - 09:44

      Complimentary Purchase Protection Insurance is the only good thing. Easily can recoup the monthly fee. Always have been jealous of those who had the grandfathered price protection deal was too lazy to sign up when it was offered to me.

      • MeesusEff on 08/08/2024 - 13:15

        It's no where the same. It's just merchandise protection for 6 months, not price

        • Lucille Bluth on 08/08/2024 - 13:30

          I know. My comment about the other perk that was phased out in 2018 I am annoyed I didn't sign up to it.

        • bamzero on 09/08/2024 - 12:17

          I was sure I read 12 months coverage, but reading the T&C's again I can't find any specific time period at all, just a single claim and 12 month limit of $1500. Where did you see 6 months?

          Did note that purchase must be made entirely with the card unlike the price protection that covers any portion paid with the card.

          But yeh different cover though in itself pretty decent (given some other cards only cover 90 days)

          • MeesusEff on 09/08/2024 - 16:15

            @bamzero: When you click the FAQ on complimentary insurance and then there's a link to the purchase protection tncs

            A. PURCHASE PROTECTION
            The Insurer will pay for loss of Covered Purchases due to Accidental Damage or Theft, occurring within one hundred and eighty (180) days from the date of Your physical possession…

            Im pretty sure when I first got the SP it was 6 months for 28d anyway, so back to square one. Wonder what the claiming system will be like for this one as the hallmark one is pretty easy

            • Lets Go Brandon on 09/08/2024 - 17:04

              @MeesusEff: Price protection began as 6 months then they extended it to 12 months when they started charging the 1% balance fee.

  • wildbill on 08/08/2024 - 09:30

    Yes just closed mine - used as backup when travelling

  • Poor Ass on 08/08/2024 - 09:49

    Got a couple cards with buyers protection but they all yield no points now

    Go Mastercard 12m price protection (any retailer) and 12m merchandise protection now $10.95 a month

    28 Degree 12m price protection (any retailer) and 12m merchandise protection now $8 a month with some $10 egift card benefit which won't be getting as won't be spending over $1000

    Coles Account cover plus 24m price protection (same retailer) and 6m merchandise protection (free but 24m price protection same retailer)

    help me decide what to cancel

    • MeesusEff on 08/08/2024 - 13:11

      Why would Coles be in your list when it's free (for now).

      I would Go :)

      • Poor Ass on 08/08/2024 - 13:28

        ya wasn't going to get rid of Coles but forgot I included it

        ya Go sucks after they got rid of the points system but have claimed couple of k worth price protection

  • THICKnSLOW on 08/08/2024 - 10:07
    +2

    So I am guessing Latitude want to trim down their customer base substantially, erode whatever is left from the 28 Degrees niche market before closing the card completely.

    Nice, sayonara Latitude, it was good while it lasted.

    • R4 on 08/08/2024 - 10:35
      +1

      Agree. It looks to me that they want to kill the 28D card.

      It's a pity but their choice.

  • richmond12 on 08/08/2024 - 10:44

    How come I haven't received this email yet?

      • CyberMurning on 08/08/2024 - 10:49

        Yep sue them $8 for each day you dont get the letter!

  • eckorock on 08/08/2024 - 11:03
    +2

    This a genuine scandal

  • H3R34TH4C0MM3NTS on 08/08/2024 - 11:05
    -1

    Is there any Catch with the Bank West Zero Platinum Card

    • CodeXD on 08/08/2024 - 11:12
      +1

      at the bottom click 'view all' comments and search for bankwest already been mentioned a lot of times

      • spaiydz on 08/08/2024 - 22:14
        +2

        Jesus Christ I've been using this site for decades and never seen this button. I've been flipping page by page like a ning nong all this time…

        • R4 on 09/08/2024 - 11:27
          +1

          Me too!

          I just learnt something.

  • Lucille Bluth on 08/08/2024 - 11:08

    Just got the email

  • cyrax83 on 08/08/2024 - 11:15
    +1

    Just got the email. Ouch. Had this card for like 10 years used it frequently particularly for overseas purchases. Time to cancel. $8 monthly fee is a joke. What's the notice period required to cancel?

    They give you 4 weeks notice for the changes and new fee being introduced. This is really pathetic. Should be 3 months minimum.

  • NigelTufnel on 08/08/2024 - 11:32
    +1

    Given that Latitude appears somewhat connected to Amazon (free 3 months prime), what are the odds that Amazon will be a participating retailer as part of the $10 gift card?
    That would probably make me stick around and avoid the hassle of cancelling, as it's my only non-Amex credit card, so gets used a bit.

    If it's this sort of list of retailers and doesn't expire for 18 months I might keep it.

    • bobs burgers on 08/08/2024 - 18:08

      I had the same thought. Need to find list

  • mahasona on 08/08/2024 - 11:43

    You have to pay the full balance before you can cancel the card online, also there is no way to ask them to get it deducted from direct-debit till the next statement date, you can BPay but there is a $1.95 fee on BPay, this is a pain, might wait for next direct debit and then cancel around 7th September.

    • Lucille Bluth on 08/08/2024 - 12:04

      You can make a manual dd payment from within service centre and avoid the bpay payment. Takes about 2-3 days to clear. You'll need to link your bank account first.

  • kwalikum on 08/08/2024 - 11:44

    This sucks and I'll be closing too, but it seems to me that everyone who has the ability to pay their balance in full right now probably also pays their balance each month. So the group of people cancelling are also the group that Latitude loses money on each month by providing a card (and protection insurance, etc) without making any revenue. The issue of attracting new customers aside, they won't be too sad to see ozbargainers go…

    • samfisher5986 on 08/08/2024 - 11:55

      Credit card companies still make money on every transaction you make.

      Purchase protection was always going to lose money which is why they removed it a very long time ago.

  • mrshorty on 08/08/2024 - 12:08

    just got this email too! closing time…

  • Stoibs on 08/08/2024 - 12:13

    Wow, why is my email on a 24hr delay :/
    I only just got this now and already see people talking about it, but yeah definitely going to cancel also.

    Thankfully I already have an ING card, and they offer free international transactions anyway.

    • CyberMurning on 08/08/2024 - 12:32

      Wow, why is my email on a 24hr delay :/

      you are special….

    • BigLeviathan on 11/10/2024 - 22:13

      which ING do you have? thanks

      • Stoibs on 12/10/2024 - 00:12
        +1

        Just the basic "Orange One Low Rate Classic"

        • BigLeviathan on 12/10/2024 - 07:54

          Thanks!

          Looks like it has a T&C to be able to use “No ING International Transaction Fees”:

          The International Transaction Fee Rebate Offer, ING International ATM Fee Rebate Offer and Australian ATM Fee Rebate Offer will apply for the next calendar month when you perform the following during the current calendar month:

          • deposit at least $1,000 from an external source to any personal ING account in your name (excluding Living Super and Orange One), and

          • also make at least 5 card purchases that are settled (and not at a 'pending status') using your ING debit or credit card (excluding ATM withdrawals, balance enquiries, cash advances and EFTPOS cash out only transactions).

          • Stoibs on 12/10/2024 - 08:15

            @BigLeviathan: Oh yeah haha.

            It's where one of my investment accounts are already so I shoot for the 1k+5 transactions anyway to hit the 5.5% bonus.
            I actually wasn't aware that was tied to it also but good to know 👍

  • machej on 08/08/2024 - 12:18
    +1

    Closed mine via the app. Saved the hassle of calling and can also provide feedback of the closure.

  • timmypete on 08/08/2024 - 12:25
    +4

    I've asked for confirmation in writing that the old Shoppers Protection will continue to function if you're grandfathered in.

    The FAQ says "All other existing card features will remain the same. If you would like to know more you can find the full list of features on our website." and it isn't specifically mentioned in either PDS for the new product.

    Layman's read of the first half of the FAQ suggests it should continue. But the second half of the para gives some tricksy wiggle room (pp/mp and the death/injury insurance aren't on the list of existing features mentioned).

    Barring any sneaky cancellation of the pre-2018 scheme, potentially there's a world where you could claim for the loss of an item under both the new and the old scheme.

    • vigilante121 on 08/08/2024 - 17:37
      +2

      This is what I am trying to work out, being on the grandfathered shoppers protection with the $20,000 lifetime limit and 12 month claim period per item. Please let me know @timmypete what response you receive. Thanks mate!

      • vigilante121 on 09/08/2024 - 13:20
        +3

        Shoppers Protection is NOT impacted for those who still have it. Worth keeping the card for this alone.

        Just got a response from Hallmark Insurance (who managed the Shoppers Protection grandfathered policy on 28 degree behalf):

        "Thank you for your email.

        Please be advised, that your Shopper’s protection insurance is not affected by the new complimentary insurance offered by Latitude/AIG.

        Your Shopper’s protection insurance will continue as per the terms in the Product Disclosure Statement (PDS). A copy of this PDS has been included for you.

        Should you have any further questions regarding the new insurance offered by Latitude/AIG, please contact them directly on 1300 552 079 between 9:00am and 5:00pm AEST.

        For any questions regarding your Shopper’s protection policy, you can contact Hallmark on 1800 800 230, Monday to Friday, 8:30am to 5:00pm AEST."

        • timmypete on 09/08/2024 - 14:15
          +1

          This is great confirmation, thanks.

  • Cohey on 08/08/2024 - 12:31
    +1

    As long as shoppers and merchandise protection continues for me, it's still a great deal and would take years of no activity for them to recoup losses incurred from myself.

    • Gorodemon on 09/08/2024 - 09:22

      How do I check whether I have this protection or not? I've been their customer since 2008.

      • nomoneynoproblems on 09/08/2024 - 15:04

        You’d be getting charged a premium during your statement month.

      • Cohey on 11/08/2024 - 11:07

        What the other guy said, also could contact them.

  • giventofly on 08/08/2024 - 12:41

    So, I’m gonna go with Up card for travelling…but what’s the best for a credit card for my YT Premium and sporadic online purchases? Reading the comments, I can’t see a clear winner.

    • Lucille Bluth on 08/08/2024 - 12:45
      +1

      I charge my Argentina YT premium via Up debit card.

    • pencilman on 08/08/2024 - 22:10

      Need advice also for for YT Premium.

      Anyone use Macquarie Debit MasterCard with success?

      I see Up works. Any other recommendations?

  • Crammed on 08/08/2024 - 12:47
    +2

    Thanks for the heads up!! I have just processed my Bendigo Bank Ready card application.

  • Mat_Lab on 08/08/2024 - 12:56
    +2

    Well 28 degrees it was fun but this is the final blow, I'm out.

    Bendigo Bank here I come for my overseas purchases.

  • VW-Kombi on 08/08/2024 - 13:06

    Is this fee targeted ?
    I use mine for all ebay/amazon - i.e linked to paypal.
    Plus I use it for overseas travel (however next euro trip I was going to try my new wise card/account).
    I have NOT been advised about this $8/month, and I checked my Spam……

    • DingoBlue on 08/08/2024 - 13:07

      I just received it moments ago. I don’t think there is any escape.

    • CyberMurning on 08/08/2024 - 13:29
      +1

      gessus wake up please face the reality its okay to be angry and sad.

    • ceebee on 08/08/2024 - 13:40

      No it's not targeted. It's on their website as a big announcement. There is also a big FAQ on their site about the upcoming changes.

      You haven't got the email yet because they are probably staggering the email rollouts.

  • DingoBlue on 08/08/2024 - 13:06

    Purchase protection with no excess is interesting.

    Do any other cards have that with no excess?

  • foxmulder on 08/08/2024 - 13:20
    -1

    To see email or not to see one, I don't think it will matter. It's there in their website. Check it here.

    Could it be targeted? Thus they see how many cancellations they see from a small sample of those getting the emails?

    • czechboi on 08/08/2024 - 13:40

      I don't think it is targeted, more than likely there is a rule they have set for staggered communication maybe based on how many days since your last statement was generated.

    • CyberMurning on 08/08/2024 - 13:41

      you gave proof that sun is there up in the sky but then next question you are asking is that a moon or jupiter?

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