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

    • DingoBlue on 09/08/2024 - 16:23

      Thanks for this, much appreciated.

    • UltimateAI on 09/08/2024 - 16:32

      Thanks, I believe result charges an Extra 1% on Weekends (After 5pm Friday), unsure of the specifics.

    • CodeXD on 09/08/2024 - 16:45

      Legend! tysm!

    • CalmLemons on 09/08/2024 - 17:38

      Wait but don't some of these cards charge an internationla transaction fee?

      • eecan on 09/08/2024 - 17:53

        None of those specific cards/accounts do.

        • CalmLemons on 09/08/2024 - 17:59

          Oh then isn't it just easier to get a cba ultimate awards if i'm already with cba??

          i have a normal cba awards card.

          • eecan on 09/08/2024 - 18:47
            +1

            @CalmLemons: It has a high monthly/annual fee but if you met the conditions for a fee waiver (or had it otherwise discounted) then the award points for international transactions on the card would be worth more than the rate difference and you would get other benefits like insurance.

          • timhn on 09/08/2024 - 19:12

            @CalmLemons: You can check out the smart rewards card. Ultimate has higher fee.

    • eug on 10/08/2024 - 10:54
      +3

      This is an interesting watch. The guy compared overseas withdrawals and purchases with a whole bunch of cards:

      1) Up
      2) Ubank
      3) Macquarie Platinum
      4) Wise
      5) Revolut
      6) ING Orange Everyday
      7) Westpac Worldwide Wallet
      8) CashPassport Platinum
      9) TravelEx Money Card
      10) Qantas Money
      11) Commbank Travel Money Card

    • jace88 on 11/08/2024 - 10:43

      Looks like Wise is a good bet then! I’ll start loading up my account.

      • eug on 11/08/2024 - 11:35

        Just be aware of the ATM withdrawal limits if you're intending to withdraw cash at your destination, and fees if you need to transfer out any balance after your trip.

        • jace88 on 11/08/2024 - 13:37

          I was thinking more for paying for stuff online like YouTube subscriptions.

  • wifiwooper on 09/08/2024 - 16:27

    Does anyone recall the days of the Latitude Infinity? I loved how points could be accrued before it all changed. For those who still use this card, what feature(s) make you reach for it over other credit cards?

    • bdl on 09/08/2024 - 22:11

      Yes, I remember. And when it was a myer card prior to that :)

  • Xizor on 09/08/2024 - 17:56
    +3

    We got emails today. Guess we will jump on the Bendigo bandwagon too

    • markwid on 09/08/2024 - 18:26
      +2

      Just got the email.

      Will be cancelling it in the coming months. Hard to justify the fees.

    • bdl on 10/08/2024 - 10:57

      Bandigo

  • Monorail on 09/08/2024 - 18:18

    So disappointing.
    I’m also keeping for now just for shoppers protection and will make sure I’m claiming everything I can til I reach my lifetime limit then I’m out.
    Plus the $1 per month to pay off the full balance before the closing date so there’s no fees for shoppers protection. So $9/month = $108/year. Much better deals out there.

    • eug on 10/08/2024 - 10:55

      You can pay for free if you don't use Bpay.

    • compound on 18/08/2024 - 04:28

      Where is the info on the lifetime limit?

  • JokerCandy on 09/08/2024 - 18:22

    Does anyone still have access to the shoppers/price protection despite being >65 years old?

  • odysseus on 09/08/2024 - 18:50

    Just received the email. Always the last to know (or will there be more?)

    Good while it lasted - and disappointing they've broken their "No annual fee" benefit - but no value in staying with this now.

  • dreamerman on 09/08/2024 - 20:00
    +2

    Had a good run with 28D. Every overseas trip over past 15 years.

  • MeesusEff on 09/08/2024 - 20:07

    Got the emails today, the CC I use for daily expenses is the free Coles one, which nets me $10 flybuys points per $4000 spend. If I just change my main to 28d I'll be in front slightly anyway so not that big a deal. I guess it depends what their 'eligible transactions' encompasses

    • tardis3 on 09/08/2024 - 21:55
      +1

      I also use Coles for day to day transactions, however I'm moving to Bendigo Bank credit card for overseas transactions (most of the streaming platforms and my upcoming overseas travels)

  • Yorkshire-Man on 09/08/2024 - 20:55

    Yeah, no deal anymore. I've cancelled as well!

  • burningrage on 09/08/2024 - 21:16

    Got the email today. It seems to be well publicized now that it even appears at the front page of 28 degrees website.

  • lostincanberra on 09/08/2024 - 21:29
    +1

    Well, with their profits being so high, I can see the need to layoff some customers! /s

    ASX: LFS

    • askbargain on 11/08/2024 - 19:54

      it worked for netflix

  • bdl on 09/08/2024 - 21:35
    +7

    28 degrees of separation from their customers :D

  • jaimex2 on 09/08/2024 - 23:28
    +3

    Can they legally do it? Go from a zero charge card to $8 a month without any agreement from us?

    They should be canceling everyone if they want out but it certainly doesn't seem fair that they can suddenly charge for something that was never agreed to.

    • shiprekt on 10/08/2024 - 08:10
      +1

      CBA did it late last year, I asked for clarification as I don't remember seeing the email/letter/notification and they waived like five months of fees, will be cancelling my CBA one as soon as my Bendigo Bank card hopefully goes through.

      I uploaded my docs yesterday morning before the "we are experiencing increase in applications" emails others received.

    • RefusdClassification on 11/08/2024 - 20:42

      In capitalist countries the rich can do almost anything the want. The purpose of governments should be to protect ordinary people from being exploited by the rent-seekers and rent-extractor.

      • ldq on 12/08/2024 - 21:08

        Lenin: "the State is a special organisation of force: it is an organisation of violence for the suppression of some Social class".

  • KiwiTheGreat on 09/08/2024 - 23:59
    +1

    Just cancelled. What a shame, been using the card since 2006.

  • bailbondsh on 10/08/2024 - 05:03

    hmm not sure what kind of CC i could get that will give me 7k to spend, it's not like i have a very big income. Any suggestions?

    • Lucille Bluth on 10/08/2024 - 05:24

      Nobody can answer this for you, especially with the limited info you provided. Most cc providers have strict eligibility criteria these days. Do you need a credit card with $7K limit?

      • bailbondsh on 10/08/2024 - 07:58

        maybe 3k as i have a business. What more info do you require?

  • docpol on 10/08/2024 - 08:14
    +1

    Made the news: https://au.finance.yahoo.com/news/loyal-aussies-ditch-popula…

    Looks like some extra perks might be coming:
    "Abbott told Yahoo Finance a new rewards program would be rolled out.
    He said customers can also benefit from credit back offers, discounts and deals on big brands, along with free additional cardholders."

    I'm not planning to cancel yet since I have an overseas trip coming up so if the extra perks are good enough for me to use the card more regularly to trigger the $10 gift card then I might actually end up keeping it.

  • Powderhound303 on 10/08/2024 - 08:21
    +1

    Cancelled my card yesterday.

    It was good while it lasted but I’ll move to bendigo cc as a back up cc.

  • ja912son on 10/08/2024 - 09:11

    Joined the bandwagon on Bendigo Ready and submitted the application. Been using 28D as the only backup card apart from Amex for many years.

  • yht on 10/08/2024 - 09:44
    +1

    How is Bendigo conversion rate compared to 28D when we have overseas transactions such as Ali Express USD purchase ?

  • UltimateAI on 10/08/2024 - 09:47
    +1

    Just got the email, talk about slow email. I am a very old customer, perhaps they are sending out in reverse order. Email send date was today, so it's not my email provider.

  • GreenGuava on 10/08/2024 - 10:20

    Just wondering, does Bendigo require you to disclose if you have any BNPL accounts like AfterPay etc in their sign up process?

    I have picked up a few mainly for various promos/bonus in the past but which I don't really use, so I was wondering if it would be better for me to close some off before signing up to Bendigo

    • timhn on 10/08/2024 - 13:40

      They will be listed on your credit file anyway.

  • JOHNNO2013 on 10/08/2024 - 10:30

    I had just claimed the mastercard flexiroam free data for my trip later in the year and then it's goodbye to this data breached, 28 degree card. I am planning to use the westpac worldwide wallet debit card, they offer flight delay protection (although it is limited to just one guest but they give two debit cards so i could still get 4 people access to the airport lounge). I use it by just loading AUD in and let the card do the conversation during purchase and that seems to go through using the mastercard scheme rate. I won't go and convert to a different currency beforehand because the conversion uses the Westpac carded rate with their fat margins.
    When i am not travelling, i give it to my kids as their mastercard debit card so i can control how much money they have available to spend.

    • mshark on 30/08/2024 - 12:24

      Flight delay protection was a nice feature I used with 28deg to get lounge access (Jetstar flight delays) so it's good to see another card offers this…

  • Devilius on 10/08/2024 - 11:40
    +2

    After reading all the responses, I still can't decide what's the best replacement card. If you are only after the best/cheapest exchange rate to use the card (i.e. buying from overseas retailers (e.g. ebay or aliexpress, etc) and possibly to use when you are travelling once a year with no annual fee and you don't really use the shop protection or travel insurance etc, what's the best replacement card (debit or credit card)?

    From memory, 28 degree was the best as it's using the xe exchange rate which is the lowest. I was looking at Wise or Revolut and noted that they are using the interbank rate. I am not sure whether this is lower than xe or not.

    Looking at the post from eecan above, it looks like Revolut got the best rate? I read this too -https://www.ozbargain.com.au/wiki/cards_with_no_overseas_transaction_fees.

    What rate does Bendigo Bank Ready use?

    But I still can't decide which one to go to replace 28 degree. Anyone got an idea? Thank you.

    TLDR: If you are after a debit/credit card to use to buy from overseas retailers occasionally (e.g. ebay, aliexpress) and travel once a year (including withdrawing cash after topping up for credit card) and you are simply after the lowest exchange rate (including fees) with no annual fee, what card do you get?

    • eug on 10/08/2024 - 11:44

      I use uBank. There are some comparisons online, e.g. this.

      • Xizor on 10/08/2024 - 12:48

        uBank is a debit card, but agree its useful i have had it for ages too. For a credit card 28degrees substitute everyone here seems to recommend Bendigo Ready Credit Card.

        • eug on 10/08/2024 - 12:58

          uBank is a debit card, but agree its useful i have had it for ages too.

          Yes, the commenter did specifically mention debit card in the tl;dr. It is also the right type of card to use for withdrawing cash and has no annual fee. Being able to instantly transfer money in via PayID makes overseas withdrawals really easy too.

    • ifcw on 10/08/2024 - 12:47

      to answer your TLDR, any of the cards will beat any of the mainstream cards out there - you probably wouldn't even bat an eyelid over the 0.10% difference in exchange rates unless you're transactioning lots and lots of money. I've got my answer as the poster of this post, and then some -

    • Whatisthatvelvet on 10/08/2024 - 16:42

      I've just signed up for a Macquarie debit card for that purpose. Will cancel 28D

    • itoyjobed on 11/08/2024 - 15:04

      -1 for Revolut. They charged me money to close the account. Maybe I had a premium account. Please read the T&C's carefully

      • askbargain on 11/08/2024 - 19:55
        +1

        -1 for something that's your fault?

  • hlg0606 on 10/08/2024 - 12:39
    +3

    can anyone recommend an alternative card that can be used to pay for youtube Argentina? thanks

    • itoyjobed on 11/08/2024 - 15:00
      +2

      I have added Bendigo Ready credit card for my YT account. Can report back in few days the charges in comparison with 28degree card.

      • mrtin on 12/08/2024 - 12:30

        Yt Argentina?

      • Riddler2018 on 14/08/2024 - 11:41
        +1

        Were you able to add Bendigo CC for a YT Argentina account without any issues?

    • Bredo on 11/08/2024 - 23:02
      +2

      I've switched mine from 28D to Macquarie a couple of days ago and just got charged today: aud$6.02

      • CodeXD on 11/08/2024 - 23:21

        How much was it on 28D previous month?

        • Bredo on 12/08/2024 - 02:05
          +1

          About the same: $5.98

      • mrtin on 12/08/2024 - 12:29

        Yt Argentina?

      • seniordoc on 12/08/2024 - 16:56

        Hi Bredo
        Could you give me a step by step instruction? I am with YT Indio
        I need to add a Bendigo card, but it asked for address. Should I use an Indian address?

        Thankyou

  • cheapass88 on 10/08/2024 - 14:06

    So apart from the credit side of things. I only used this when travelling and overseas transactions.

    I believe my NAB debit(was citi) can do everything?

    What about Macquarie debit card and HSBC debit?
    Do they both have free ATM and international transactions waived?

    Thanks in advanced

    • hellwolf on 10/08/2024 - 14:19

      The NAB debit (ex Citi), Macquarie debit and HSBC debit don't charge a fee for ATM withdrawals (the ATM owner can still charge a fee) or international transactions. In the past I've found the HSBC debit card to have a worse exchange rate than ING, Up, uBank etc.

      • cheapass88 on 10/08/2024 - 14:24

        Thanks mate for confirming. I have all 3, so i think I'll try and use the NAB as my primary and Macquarie as backup. I hahe the HSBC and use that locally anyway. Cheers!

    • bdl on 10/08/2024 - 20:35

      I found when adding both NAB (ex-Citi) and up to Paypal, I couldn't select to pay via USD with NAB but can with up. NAB kept on defaulting to AUD even when I explicitly selected the option to charge in USD.

  • watwatwat on 10/08/2024 - 16:35
    +3

    Had the card for 11 years. It's a shame to cancel now but i will.

  • TheWashedLord on 10/08/2024 - 17:15

    Are there any credit cards out there that also have the Price Protection feature?

    • Lucille Bluth on 10/08/2024 - 19:49
      +1

      No.

    • gentlecrack on 10/08/2024 - 21:05

      Yes, Amex essentials; no fee, 90 days price protection.

    • minniethemoocher on 10/08/2024 - 21:43

      There used to be a few cards that offered that but there was an excess and generally an annual fee. I just checked the cards I thought had it (Westpac Black and Amex essentials) and it appears to not be a feature anymore.

      • eecan on 10/08/2024 - 23:19

        The price protection from Westpac, ANZ, CBA etc was almost worthless because the fine print said it needed to be advertised on a printed catalogue lol.

  • AuQld on 10/08/2024 - 22:32

    Wise

    • smartyhaha on 12/08/2024 - 11:09

      do they accept your Wise card?

      • AuQld on 12/08/2024 - 13:14

        Yes it's a visa card, works flawlessly. It's not a bank a failed transfer can take months to recover so ensure details are correct before bank transfers

  • bigbadboogieman on 10/08/2024 - 23:42
    +4

    Lolz they are going to lose a lot of customers.

    • eug on 11/08/2024 - 09:14
      +3

      With the number of people getting it and only using it once a year when going overseas with a free roaming eSIM, that's probably exactly what they want to happen.

      • bigbadboogieman on 11/08/2024 - 10:17

        That is the target demographic based on the product design. To expect anything else is a fool's errand.

        • eug on 11/08/2024 - 11:33
          +1

          Latitude probably thought they could make it work when they bought it 8 years ago but perhaps the travel landscape has changed and they're not making as much as expected with their clearly generous offering.

          By charging a fee they likely want to trim down their nonprofitable customer base and focus on customers who travel more or use their cards more frequently. Who knows how many people signed up for their global WiFi and global data offerings and never actually use the card for anything else. They would be losing money on all those customers; evidently it wasn't very sustainable.

          • burningrage on 11/08/2024 - 20:57
            -1

            @eug: With a carte blanche resolution like this, it also affects those frequent travellers that use this card and let's not mention possibly this card would have commanded a significant market share. These people would also likely to cancel their cards and what's left would be I would imagine 5% of the willingly paid or ignorant card holders.

            I think they are gambling in a desperate move for survival.

            • eug on 11/08/2024 - 21:07

              @burningrage:

              With a carte blanche resolution like this, it also affects those frequent travellers that use this card

              They're probably thinking frequent travellers won't have any problems paying $8/month.

              I think they are gambling in a desperate move for survival.

              Yeah, one month's notice is pretty short… hopefully they don't just fully close the whole thing. I've always wondered how profitable the card can be as their offerings were rather generous for a $0 annual fee.

              • burningrage on 12/08/2024 - 07:46
                +2

                @eug: Citibank Signature Fee Free for Life WAS (and probably is despite the reduction in interest free days from 55 to 44 days) the most generous credit card Australia has probably ever have. Yet, credit cards were Citibank's main profit earner after mortgage.

                It can work ofc.

                • eug on 12/08/2024 - 10:53
                  +1

                  @burningrage:

                  Citibank Signature Fee Free for Life WAS (and probably is despite the reduction in interest free days from 55 to 44 days) the most generous credit card Australia has probably ever have.

                  Hmm, is it really? They charge foreign transaction fees, don't have Flight Delay Pass, free global roaming SIM (and free global WiFi before that), free 3 months Amazon Prime, a whole bunch of cashback offers, all for no annual fee.

                  The Citibank card does give two airport lounge visits a year, so I guess "most generous" depends on what you're looking for in a card.

                  It can work ofc.

                  Citibank left Australia in 2021 so I guess it didn't work well enough. :)

                  • CyberMurning on 12/08/2024 - 10:57

                    @eug: yes i agree that card is the BEST. still until now.

                  • burningrage on 14/08/2024 - 14:59
                    +2

                    @eug: No annual fee with Priority Pass and Rewards program plus insurance. I am not sure maybe your view of value is different to mine but Priority Pass trumps Flight Delay pass and I've never used global roaming SIM which is okay I suppose since I've got insurance. The 3 mths amazon prime was once off and cashback offers were also offered at Citibank at one point (targetted spend). Citi Payall was Ozb favourite.

                    • timhn on 14/08/2024 - 15:26

                      @burningrage: Yes, it has became my fav CC when they introduced the PayAll with 0% fee feature :)

                    • eug on 14/08/2024 - 16:20

                      @burningrage:

                      No annual fee with Priority Pass and Rewards program plus insurance.

                      As I mentioned, "most generous" depends on what you look for in a card.

                      If you travel alone then the 2 lounge visits a year can be nice, unless your travelling companions also have it or pay for access.

                      If the free travel insurance covers exactly what you need, that's good. I always shop around different travel insurance companies as the coverage varies (e.g. car hire excess) so I have to make sure I pick the right one.

                      Don't forget once you get overseas, you're not going to be using the Citibank card at all since you wouldn't want to be paying the international transaction fees.

                      Citi Payall was Ozb favourite.

                      Is it really? Doing a search, it's barely talked about compared to 28 Degrees.

                      Why was it only available for a limited time? If it could work like you said, wouldn't they offer it to everyone anytime?

      • MrFunSocks on 13/08/2024 - 12:01

        Also the price drop protection people like me - they have been trying to get me to get rid of this card for years with "special deals" to switch from mine to another.

  • AndyRates on 11/08/2024 - 07:33

    For the same price, might as well get humm 90 credit card

  • Mainsail on 11/08/2024 - 11:30
    +1

    Anyone having trouble getting the Amazon promo (before cancelling)?

    The page that checks keeps failing. Not saying ineligible, but just failing.

  • DanielR on 11/08/2024 - 14:02
    +4

    I’ve closed my 28 degree Mastercard account via the app, anyone can do this via app, I selected that ‘fees too high’ .

    I’m not paying $8/month I’ll open the Bendigo bank account this week..

  • itoyjobed on 11/08/2024 - 15:13

    Just submitted the account closure request via app.

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