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.

Financial

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Comments

  • chinaman on 08/08/2024 - 14:16

    Just got my email today :(
    Farewell 28 degrees

  • richmond12 on 08/08/2024 - 14:21

    They basically killing the product because it’s unprofitable.

    They will also most likely catch a few by making a final killing on the surprise $8 fees because not everyone will read their emails in time with one months notice.

    • Daniel Plainview on 08/08/2024 - 14:34

      Utterly ordinary practice by them - there is NO GOOD REASON they cannot give more notice for such a voluntary & solely profit oriented policy change, they give absolute minimum hoping to catch clients out and ping them.

      I left for this reason alone. Urge others to do the same.

  • GreenGuava on 08/08/2024 - 14:54
    +1

    Received my email this morning. Have had this card since 2011 and although it has never been my main card, it's always been that dependable card that I could rely on for foreign currency purchases and overseas holidays.

    It's a shame that it's ending this way, but I guess that's Latitude's decision to make. Will be giving either Bankwest or Bendigo Bank a go (thanks to all who suggested these two alternatives)

  • JimmyF on 08/08/2024 - 14:57

    Yep got this too. Closing the account, not work $96/year to keep it open for the few times I use it.

  • jace88 on 08/08/2024 - 15:17

    Just got the email too. What a shocker. Need to find a new way to pay for some overseas subscriptions now!

  • Skramit on 08/08/2024 - 15:19

    I signed up to Amex $0 fee car to replace this. Min limit $2k

  • robertwt7 on 08/08/2024 - 15:51

    Gosh definitely cancel now. Any other international free transaction? Ing orange is only free after deposit $1k and 5 transactions right?

    • Vool on 11/08/2024 - 20:12

      Correct, but a lot of us are already doing that for the savings account.

  • plmko on 08/08/2024 - 16:44

    Ah yes now I now why they've been spamming me to do an interest free balance transfer.

  • aaronaldo on 08/08/2024 - 16:48

    Ughh, transferred via BPAY to bring my balance to $0 before closing, got charged $1.95 for using BPAY. I have never heard of BPAY being charged before by anyone.

    • Lucille Bluth on 08/08/2024 - 17:19
      +5

      They have charged a bpay fee since 2016

      • aaronaldo on 08/08/2024 - 18:39

        I mean other than Latitude, I've never heard of a fee for BPay.

        • liam2040 on 08/08/2024 - 19:21
          +1

          Truth is they've been dogs for years now … trying to eek a dollar out of you any way they can.
          Not being able to make payment outside of business hours is a classic example. This might all be for the best in the end.

  • AliensStoleMyMoney on 08/08/2024 - 17:27
    +1

    Probably going to get down voted for asking but if your on the price protection plan isn't it worth still keeping open aslong as you claim atleast 97 back each year (got 3k left on lifetime balance so shouldn't I just keep it until done?)

    • Pecan on 08/08/2024 - 18:30

      Yes I’m thinking of keeping mine because price protection is so good.

      How do you know your lifetime balance remainder?

    • rai885544 on 08/08/2024 - 21:53

      im not sure, so lets say you want to buy the latest phone every year , you pay mrrp for a new phone at $2000, then after 12 months it's $1000 on sale, you get cash back of $1000… then you sell it for $500 or so , you still spent $500 right? is that the main benefit most ppl use it for? or is it lots of small cash backs? just feels like it mostly for ppl who spend a lot on early adopter tech? theres no way you could buy something and 12 months later you Cashback and sell it and recoup 90% of the cost ?

      • AliensStoleMyMoney on 08/08/2024 - 22:00

        I commonly use it for electronics,

        these are things I know i could get cheaper on ebay or amazon or even aliexpress but cbf waiting or want local warranty so I get the best of botb worlds.

        trick isn't thinking of selling to get it back but buying what you would already buy (common trap for CCs is spending unnecessarily) and then using price protection to get money back

        a good example of this was a monitor was 1400 locally but 1300 interstate now its 800 on clearance all back to my account plus wfh means i can claim it back on the original price.

        same with small things like cpu cables or even furniture.

        • rai885544 on 08/08/2024 - 22:23

          yeah I'm pretty frugal so don't spend much on new stuff, most goes into property and mortgage, only an expensive phone every 2 years and good quality food.
          seems like just for those with good income to spend on material things that improve their life, which is no different to expensive food but you can't claim food on this card sadly right.

          • AliensStoleMyMoney on 08/08/2024 - 23:00

            @rai885544: i won't say im not on good income but even bare requirements such as a cheap phone every few years it adds up (I've had card since 2017 and still not hit 20k lifetime) im extremely frugal but somethings are required (wfh equipment) clothing, furniture, appliances (essentials) cooking utensils,bedding.
            all of this is covered by the card

        • cloudy on 08/08/2024 - 22:34

          dumb question, probably a bit late, but how do you know if you have price protection or not?

          And how do you ask them for the claim? call them?

          • AliensStoleMyMoney on 08/08/2024 - 23:01
            +1

            @cloudy: if you have it you'd have signed up for it before it was killed off a few years back

            claiming is super easy via the website enter your account details then do as many claims as you want with evidence

    • zrach on 09/08/2024 - 09:42

      is it easy to claim or do they make you jump through hoops?

      • Cohey on 11/08/2024 - 11:09
        +2

        It's really easy and since Hallmark took over you don't even need to provide proof if the claim is under 300 which is wild. Instant approval the claim I did 2 days ago to get $20 from a pair of shoes.

    • nomoneynoproblems on 09/08/2024 - 15:08
      +4

      If you have price protection grandfathered in, you do not cancel. You hang onto that for dear life. Lots of folks cancelling never had it to begin with since they axed it so long ago. $96 a year for price protection is a no brainer. I’ve made more than that back in past 12 months easily.

      • odysseus on 09/08/2024 - 18:44

        Depends how you shop.

        I signed up when it existed but never activated it, and have never had a need/missed it. You just buy at the special price.

        It's like the previous poster said; it's useful if you buy early on when there are no discounts, then you get the price protection later. But if you hunt out things at a good price to begin with, it doesn't give you anything.

        • Darkscythe on 09/08/2024 - 20:13
          +4

          Definitely not true. I've bought stuff when it's on sale at a price im happy with then when an product gets discounted heavily when the new model arrives, I get a nice little bonus. Plus, I can buy most games brand new and get them for 50%+ off when they inevitably drop within the year.

          • eecan on 10/08/2024 - 13:00

            @Darkscythe: Agreed, it doesn't matter how good you are at finding good prices for a lot of products like tech, even if you buy it at the current ATL there will be a new ATL within 12 months. I'm sure that there are some cases where a product hasn't got any cheaper over time but I don't see how someone can make the blanket statement that there will never be better discounts to be had for any products for a year after a purchase…

            • rai885544 on 13/08/2024 - 10:04

              @eecan: damn i have it but never used it and im thinking you're right here. I'll have to try and see how it goes , what's the main pointers /things to look out for so you don't get refused/rejected on the cash back requests? thanks

              • eecan on 13/08/2024 - 11:07

                @rai885544: I don't recall have any particular issues with making any claim even when I'm claiming for hundreds. The most info they will need for price protection is your CC statement, invoice and evidence of price reduction. I just grab a screenshot of the price when I see it and make the claim.

                Actually the only trouble I had with the process was keeping up with the $5k maximum limit for claims within a 12 month period and $20k lifetime policy limit. You have to track it manually or call them to ask them to give you the current status.

                • rai885544 on 13/08/2024 - 21:10

                  @eecan: so do they take the final receipt price or the rrp? as in you rrp$2000 but with trade in of $500, the receipt shows final payment of price of $1500 and thus that's the price 28Degrees starts off with?

                  e.g zfold5 is $2600 on release (trade in bonus $500 but can't use due to it lowering your sales receipt price, so you use the $300 giftcard deal instead) your receipt shows $2600, you sell gift card for $200 lets say. then 11 months later the zfold5 is advertised $1700, you claim 5 times in the 11 months to get cash back of $900 (+ $200 giftcard sale) the total cash back for buying the zfold5 on release day is $1100 (so it costed you $1500) would that be an average experience with most who use 28degrees ?

                  • eecan on 13/08/2024 - 21:36

                    @rai885544: It's whatever price you paid for the item, if it was paid in part with credit card then it is calculated pro rata.

                    The example with the Fold sounds about right, though I'm not sure how you would go if anything else is recorded on the invoice (for example, if the gift card appears as linked to the phone purchase). Just note that its a maximum of $1k per item.

                    • rai885544 on 15/08/2024 - 20:11

                      @eecan: yeah id assume you would not use the gift card straight away to reduce the total final price on the receipt so that the final price is recorded the highest figure. thus you have to sell or use the gift card later ? seems like there are lessons learnt claiming 28d that are in the threads but not easy to search

        • clover on 10/08/2024 - 01:00
          +2

          Yeah. Especially, when I mainly bought expensive stuffs to meet credit card spending requirements as well. (to get bonus qantas.velocity points)

        • nomoneynoproblems on 10/08/2024 - 12:25

          Not always the case. I’ve bought many items on special/discount only for it drop to ATL. It’s so good especially stacking with some sort of cash back offer.

  • Mad Max on 08/08/2024 - 17:39

    Enshittification in full swing!!!
    Nothing is spared!
    Wait when they get us to a cashless society. Then there will be no escape.

  • gstfree on 08/08/2024 - 18:43

    One more to do list this month is to close the account. I have been using Wizard Clear Advantage Master card since around 2005 before it was rebranded to 28 Degrees in 2010.

    I will switch to Macquarie debit master card and ING debit card.

  • Maxxjet on 08/08/2024 - 18:47

    Got my card in 2006, when it was under GE Money if my memory serves me right. And I still am waiting for the email lol.

  • sora on 08/08/2024 - 18:51

    As soon as I receive the email, I'll cancel it too…

  • Blugok on 08/08/2024 - 18:56

    I spend only around $150 per month on this card. Wont b getting the $10 egift

    Guess its goodbye 28deg card

  • nurseboucher on 08/08/2024 - 19:53
    +1

    My understanding from email is the price protection ("all other existing card features") for my grandfathered plan will remain - but yet to find it in writing.
    Might ring tmw - if its still there, its definitely still worth the $8, esp if spending >$1000 each month which often do..

    • vigilante121 on 08/08/2024 - 22:23

      Keen to know the same, let me know if you find out.

    • terlalu on 08/08/2024 - 23:34

      it says on their website: "All other existing card features will remain the same. "
      https://latitudefs.zendesk.com/hc/en-au/articles/25970394220…

      So assume it's still available.

      • vigilante121 on 09/08/2024 - 13:21
        +2

        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."

  • itoyjobed on 08/08/2024 - 20:04
    +1

    Will use UP card (debit) and Bendigo ready (credit) for my next overseas trips.

    • giventofly on 09/08/2024 - 10:03

      What’s the Bendigo Ready used for when travelling overseas?

      • itoyjobed on 09/08/2024 - 14:26
        +1

        spend $500 before travelling to activate travel insurance and 0 international transaction fee

  • Mainsail on 08/08/2024 - 21:02

    I've rarely used my card. A while ago I got a notice they wanted to close it so I used it again.

    Then I got another notice but the balances didn't align or were old. So I thought it may have been old data from when they got hacked (but probably not). So I ignored that too.

    I'm guessing I was just cutting them money having a little over $115 in credit.

    I've requested refund and will cancel too.

  • burningrage on 08/08/2024 - 22:18
    +2

    Will cancel for sure.

  • ozisaver on 08/08/2024 - 23:16
    +1

    I just canceled this card a few weeks ago and will be swapping to Bendigo Ready. You wouldn’t believe what’s happened though. Email confirmed account closure but yesterday they sent me a brand new card. Seriously WTF?!

    Make sure you receive an actual letter saying the account has been closed cos they’ve stuffed up this one.

    I received this email confirmation:

    Thank you for contacting Latitude Financial Services 😊

    We have received your account closure request and would like to inform you that your account has been closed. However, your past statements will still be accessible via the Latitude Service Centre/Mobile App.

    One or two statements may be generated to confirm that the closing balance on your account is $0.

    Please note that you need to stop any payments that may be automatically deducted from this account. You can do this by calling the supplier and arranging an alternative means of payment. This should be done as soon as your account is closed. You will be liable for the payment of any additional transactions even though your account is closed.

    If there are any pending transactions on your account at the time of closure, you may receive a statement with an owing balance. This will need to be paid accordingly.

    In case if you have any queries, please feel free to reply to this email and it will be queued directly to me.

    • kerfuffle on 09/08/2024 - 09:28

      That happened with my old Citibank Debit card. Got a new one in the post two days before they closed the account …

  • nutella9 on 08/08/2024 - 23:31

    So they lost my data, which means I had to put in place credit bans. How am I to get a new card with the bans in place! Can I make a complaint to the Ombudsman?

  • tqf8h on 09/08/2024 - 02:49
    +1

    I have had the card for over 12 years, I used to use it mostly for online purchases of when I went overseas. But more recently, only used it for some of the cashback offers that I found useful via their emails. Otherwise it didn't get any other use. I guess I was one of the unprofitable customers. Now with the monthly fee being introduced, its time to cancel. Also I still haven't gotten the 'new changes to the card' email yet, but another family member who also has the card and has much the same usage habits that I have, did receive the email yesterday

    • yht on 09/08/2024 - 18:16

      Same.

  • seniordoc on 09/08/2024 - 04:58
    +4

    I only use it for Youtube premium (India). Could anyone tell me how to change the credit card with Youtube, say to Bendigo card?
    I want the overseas cheaper premium and don't want to risk losing it. Many thanks

    • jace88 on 09/08/2024 - 13:11

      Maybe I'm missing something but I just changed my CC to another credit card, but left all my other details as is?

      • fillit on 09/08/2024 - 19:45

        It’s hit and miss, 28degrees never worked for me, whereas Macquarie worked.

        YMMV

  • nigel deborah on 09/08/2024 - 07:01
    +1

    Up bank is probably the best travel card these days, but it's debit. Bendigo for credit.

    I prefer debit for travel, easier to manage the funds available in case you're skimmed or it is stolen.

    • timhn on 09/08/2024 - 07:41
      +4

      Problem with debit is that car rental companies and hotels required a credit card for booking. They’re required to do a pre-charge an amount to your card in case you damage their vehicle/room.

      • zrach on 09/08/2024 - 09:45

        Yeah this sucks. Some apps also require a cc like lyft

      • nigel deborah on 09/08/2024 - 16:04

        I've never had a hotel that woudn't take debit (as long as you had enough in there for whatever deposit they demand), but yes that's true for rentals.

        If the charge is only ever pending, like for a rental deposit, FX rates and transactions fees should never apply though? That's been my experience. So you could use a regular CC.

  • MagpieSilver on 09/08/2024 - 09:53
    +3

    I’d wait 48 hours before cancelling in case the haemorrhaging triggers a u-turn.

    • CyberMurning on 09/08/2024 - 09:54

      Ill wait 2 weeks :)

      • yht on 09/08/2024 - 18:17

        Wouldn't you get charge if it has passed 17/9 ?

    • Mad Max on 09/08/2024 - 10:56
      +5

      I think they want to kill the card, so not much chance of u-turn.
      They even have a very specific and detailed FAQ on how to close your account.

    • jackystudio on 09/08/2024 - 12:06
      +2

      No, it won't, its a dead end.

  • MagpieSilver on 09/08/2024 - 10:40

    For anyone thinking of cutting it fine re: 17th Sept - the cancellation takes up to 5 business days.

  • MrFunSocks on 09/08/2024 - 12:44
    +1

    They've been trying to get those of us with the Price Drop Protection to get rid of our cards for years. Unfortunately this will likely work on a lot of people. It's making me consider it, as while I use my price drop protection a fair bit, $100 a year is pretty steep. Guess I'll just have to spend an extra few mins a month trying to find a price drop on any of my things that I've bought.

    Stuff like this should be illegal though IMO. The card had zero monthly fees. That's one of the reasons why I got it like 10+ years ago. Suddenly adding a $8/month fee changes the whole deal negatively and gives me no positives.

    • Darkscythe on 09/08/2024 - 20:15
      +1

      This should definitely be illegal - they shouldn't be allowed to change the terms to make you worse off.

      • eug on 10/08/2024 - 10:51
        -1

        How is anyone worse off? This is a nonessential product that everyone voluntarily signed up for. Plenty of people don't have any credit cards at all and are totally fine.

        • Darkscythe on 10/08/2024 - 10:56
          +1

          Because we weren't paying $8 per month when we signed the initial contract to get the card… It's got nothing to do with the card being "essential"

          • eug on 10/08/2024 - 11:12

            @Darkscythe: It really shouldn't be a surprise that the terms and conditions in the contract allows them to change the product. It's pretty standard in any such contract.

            e.g. lots of people are switching to Bendigo. Their page states "All information, including interest rates and fees, is correct as at 1 March 2023 and is subject to change"

            • MrFunSocks on 13/08/2024 - 11:57

              @eug: Adding an $8/month fee to a product that some of us have had for like almost 15 years with $0/month fee is a bit different to just changing interest rates etc IMO. Just because it's in their terms and conditions that they can change things doesn't mean that everything they change should be legally allowed.

              • eug on 13/08/2024 - 13:58

                @MrFunSocks:

                Just because it's in their terms and conditions that they can change things doesn't mean that everything they change should be legally allowed.

                They are a business providing a nonessential service. If they decide one of their credit card offerings is not making them enough money, or they're running at a loss, why should they not be allowed to stop providing that nonessential service?

        • MrFunSocks on 13/08/2024 - 11:59

          How is anyone worse off?

          Well as of today this card costs me $0/month, like it has for the last 15 years or so. As of next month it will cost me $8/month. How am I not worse off?

          • eug on 13/08/2024 - 13:53

            @MrFunSocks:

            As of next month it will cost me $8/month. How am I not worse off?

            You are not being forced to pay $8/month. You can just cancel the card if their new terms do not suit you.

  • delpy on 09/08/2024 - 13:24
    +5

    Hi, your recent Bendigo Bank credit card application has been received. Due to an unprecedented increase in applications in the last few days, the impact on application assessment times is unknown.
    If you have not uploaded the required income verification documentation, please follow the instructions on your application progression email or email your documents to [email protected] as soon as possible. No SMS reply available.

    • CyberMurning on 09/08/2024 - 13:25
      +1

      LOL maybe send email to that contact and give link to this thread so they can read

    • tencents on 09/08/2024 - 13:34
      +1

      Ha got this too

      • delpy on 09/08/2024 - 14:08
        +3

        Ozbargained and it's not even a deal.

    • tardis3 on 09/08/2024 - 21:50
      +1

      I received this as well

  • Riddler2018 on 09/08/2024 - 14:13
    +6

    Just got this message reflecting the "Ozbargain" effect :)

    "Hi, your recent Bendigo Bank credit card application has been received. Due to an unprecedented increase in applications in the last few days, the impact on application assessment times is unknown.
    If you have not uploaded the required income verification documentation, please follow the instructions on your application progression email or email your documents to [email protected] as soon as possible. No SMS reply available."

    • watwatwat on 10/08/2024 - 16:18

      This is hilarious.

      Now to hope they don't change their own card offerings soon.

  • jackystudio on 09/08/2024 - 14:25
    -3

    https://applynow.bendigobank.com.au/apply/#/error/424?errorDescription=At%20this%20stage%20we%20are%20unable%20to%20progress%20your%20application.%20If%20you%20would%20like%20to%20discuss%20this%20further,%20please%20call%20us%20on%201300%20236%20344%208am%20to%208pm%20(Monday%20-%20Friday),%209am%20to%204pm%20(Saturday%20-%20Sunday)%20local%20time.

    Bendigobank gives me a blank page and I need to read the content from URL.

    • bdl on 09/08/2024 - 14:36

      So did we

  • DingoBlue on 09/08/2024 - 15:20

    It's still showing $0 online…….

  • Mellows on 09/08/2024 - 15:22

    Does anyone have the ING Orange One card? I'm already an ING customer (home loan and savings account) so I'm guessing the Orange One will be a good replacement for the 28 Degrees card?

  • CyberMurning on 09/08/2024 - 15:23
    -1

    oh well with bendigo got flooded i will just cancel latit and stay rest.
    next month trip will just take macq and ing debit without any cc card

  • ajr5k on 09/08/2024 - 15:29
    +2

    "A card fee of $8 per month will be introduced and the interest rate on purchases will increase to 27.99% p.a. "

    We are in the wrong business.

  • eecan on 09/08/2024 - 15:55
    +38

    Just in case it helps anyone else I have tested a transaction of 112000 KRW today on multiple cards. I did this over about 30 minutes so there may have been a slight fluctuation of the rate. I tested them in order of CBA, 28 Degrees, Revolut, Wise, Macquarie then NAB.

    $124.70 Revolut (VISA)
    $124.86 Wise (VISA)
    $125.24 CBA Ultimate Awards (Mastercard)
    $125.24 28 Degrees Card (Mastercard)
    $125.24 Macquarie Platinum Transaction Account (Mastercard)
    $125.44 NAB Classic Banking (Old Citibank account) (VISA)

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