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28 Degrees Mastercard - $0 Monthly Fee for 12 Months (Normally $8 Per Month) @ Latitude Financial

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28 Degrees Mastercard - $0 Monthly Fee for 12 Months (Normally $8 Per Month) @ Latitude Financial
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epicttiimm on 12/09/2024 - 13:19 latitudefinancial.com.au (3307 clicks)
Last edited 12/09/2024 - 15:46 by 2 other users

Targeted deal - check your SMS for a $0 monthly fee offer.

Good thing I didn’t insta cancel like so many people - seems like I’ll keep this card for another year. I’m a longtime cardholder with the 12m price protection. I’ve got about $15k left on my lifetime claim limit - will try to use up as much as I can this year.

XXXXXX, we're waiving 12 months of the monthly card fee on your Latitude 28° Global Platinum Mastercard so you can enjoy more shopping in the Black Friday sales! Check your inbox for more info.

Financial 28 Degrees Credit Card Latitude Finance Australia MasterCard

Related Stores

Latitude Financial
Latitude Financial

closed Comments

  • dextertheboygenius on 12/09/2024 - 13:20
    +208

    Cancellations hitting them hard.

    • Jamesx on 12/09/2024 - 13:28
      +73

      Cancelled, not going back unless it's $0 Monthly Fee for 12 years, I might.

      • dinglejerry on 12/09/2024 - 18:30
        +16

        Yeah the card went steadily downhill for many years, I cancelled when I saw the $8 fee, don't really have any interest in going back. Terrible customer service compared to what it used to be on the phone as well.

    • sauce2k on 12/09/2024 - 13:57
      +35

      Alrdy cancelled f them haha

    • Craze on 12/09/2024 - 14:26
      +7

      But I thought that was the whole point- they wanted to weed out customers who weren't profitable to them, i.e. milking all benefits but not paying fees/overdue.

      I received the sms too so I'm happy! Had a reminder in my phone to cancel this weekend so I'll happily keep for another year!

      • jv on 12/09/2024 - 14:31
        +9

        But I thought that was the whole point- they wanted to weed out customers who weren't profitable to them

        If they have issues with someone spending $20K in a month and not being profitable for them, then they have some real problems.

        • Craze on 12/09/2024 - 15:16

          No, what I meant was they are enforcing the new rules with the intention of weeding out customers not profitable (i.e. customers who will not be spending that amount, and therefore cancelling)- so by waiving fee for a year it's sort of backfiring?

          • Colombian on 12/09/2024 - 15:31

            @Craze: Nah, I rarely use the car and pay in full monthly before statement. I got the SMS, luckily I hadn't cancelled the card yet

      • Pcoder on 12/09/2024 - 14:46
        +32

        The problem here is that they've probably weeded out most of their customers, which is very costly as getting them back. I think the management underestimated how many people would leave.

        There were multiple ways they could have increased revenue without piss off their customers, like have a premium account with a few more perks and a fee, make a minimum yearly speed to keep annual fee free, but i think they chose the wrong option which will in the end substantially reduce their potential customer base.

        • Onemoredeal on 12/09/2024 - 17:08
          +2

          They wanted to get rid of the sometimes travellers that used it once every 2 years, as the admin is huge to maintain compliance

          • Pcoder on 12/09/2024 - 17:40

            @Onemoredeal: But it also got rid of their customer base. You just make small adjustments if its not working out, not major changes.

            I reckon it will cost them in the end.

        • antheak on 13/09/2024 - 08:48
          +3

          Shedding a bunch of captured customers is sheer idiocy for any business. But increasingly, we see idiots getting into senior roles in companies. I was so determined to get rid of this crappy card, I sat on their waiting queue for 20 minutes which is something I seldom bother doing.

          Now I've noticed a Bank West card that might replace both this card and my QF platinum. Free overseas stuff, and 1:1 QF points, and it's cheaper than the QF platinum. Going to try and get that.

          • binscab on 13/09/2024 - 09:35
            +1

            @antheak: Took me forever and a lot of effort to cancel mine.

            They had an old address on file also - so I didn't even have the card.

            Tried to after the data breach but could never get through to speak to someone.

          • Onemoredeal on 14/09/2024 - 17:34
            -1

            @antheak: So if a customer makes you $8 in commission once every 2-3 years, and the compliance and admin cost of the account is $20 a year… that is idiocy ?

        • jrvb42 on 13/09/2024 - 15:27
          +1

          They kind of did implicitly have a minimum spend to keep it free. Remember, if you spend $1k per month, you get a $10 gift card, which more than compensates for the monthly fee.
          I think the 12 months free is to let people see if they can make the card worthwhile, rather than close the account immediately.
          Luckily, I hadn't gotten around to closing - one case where ignoring the problem has made it go away (at least for 12 months) :)

          • Pcoder on 13/09/2024 - 23:16
            +4

            @jrvb42: Still it's just a lot of unnecessary effort to at best be $2 ahead.

            • Legoman on 14/09/2024 - 12:43
              +3

              @Pcoder: The life-admin work required to realise that $10 gift card each and every month is absolutely ludicrous! No thinking person would ever consider it worthwhile for $2. It's far less of a value proposition than claiming your 10c for returning aluminium cans!

    • HeWhoKnows on 12/09/2024 - 19:17
      +16

      Correct

      And almost every other credit card offers 1st year FREE.
      So this offer nothing special.

      But check out thier 27.5% interest charge on purchases and 30% on cash advances.
      That must be the highest credit card interest charge in the WORLD!

      Its enough to send you ducking for cover and send you packing…FAST!

      • antheak on 13/09/2024 - 08:46
        +1

        Just before I cancelled (I joined when they were GE Money, 68 Degrees), I was a few days late paying my monthly bill. $45 late fee!!!! couldn't get out of there fast enough. Data breach, crazy late fees, and now a monthly fee. Good BYE.

      • zoza on 13/09/2024 - 19:06

        Interest rate has to be the highest ever seen on credit card .. wow

        • Legoman on 14/09/2024 - 12:49

          It's FAR from that. There are and have been in the past, credit cards in the US, Europe and Middle East with interest rates well over 50%. I've seen credit cards with advertised interest rates in the ~60/70/80+% ranges. 28% is very probably the highest in Australia and maybe even the Southern Hemisphere, but it's a wildly different picture in the other half where 90% of the world population live.

          • kuco on 17/09/2024 - 13:13
            +1

            @Legoman: Southern hemisphere includes Argentina (even further south of Oz and Nz). I did a quick check online and it seems they charge around 140% over there!

            • Legoman on 17/09/2024 - 13:27

              @kuco: I stand corrected. Kudos to you sir, though I am not surprised.

    • eatwell365 on 13/09/2024 - 06:49
      +1

      Already cancelled my 28 too. Great lesson to them. Next card to cancel is Macquarie. It’s formerly Woolies but sold. $150 annual fee on next renewal.

    • enkerkee on 13/09/2024 - 09:32
      +1

      Exactly!
      Went to Bendigo Bank instead for their international card.

    • ssmith3104 on 14/09/2024 - 12:58
      +3

      I just rang Lattitude to seek the fee waiver. They said NO but that the imposition of the fee had been put back by 3 weeks to give them time to better determine which customers might be given a fee waiver, which might be for 12 months only.

      There have always been 2 major problems in my not using the card more: (1) no rewards program. (2) unless you accept their direct debit payment basis, which I do not, they charge stupid payment fees. How dare they charge ($1.95?) for receiving money via a simple BPay!

      I'll probably end up cancelling my card. I only travel overseas every 2nd year, and many of those expenses are prepaid. My foreign transaction savings are not worth paying $96 per year in fees to obtain.

    • paullovesbargains on 16/09/2024 - 10:01

      My bankwest card offers the same benefits re fee free international transactions. So didn't need this one after they added in the fee.

  • yht on 12/09/2024 - 13:21
    +2

    No sms for me. Got the latest statement email but unable to download the statement.

    • bdl on 12/09/2024 - 14:38
      +1

      try logging in manually at https://servicecentre.latitudefinancial.com.au/login on a computer, I found it usually takes 24-48 hours after they've sent the statement email for it to be available :(

      I am still able to log in via the web only to see the latest statments even though my accounts are all now closed.

    • antheak on 13/09/2024 - 08:49

      I had that too. Tried to log in again that night, and it worked. Downloaded the statement, might be handy when applying for a new card elsewhere. Says "card closed" everywhere and $0 in available to spend.

  • AsukaST on 12/09/2024 - 13:22
    +47

    Comes with free data breaches as well 😎

    • nugstar on 12/09/2024 - 14:07
      +2

      Free for a minimum of 7 years*

  • Sterio on 12/09/2024 - 13:23
    +5

    Hope I get the sms. Didn’t cancel because I’m travelling in October.

    • beesquared on 12/09/2024 - 13:59
      +2

      In the same boat, or plane, travelling OS in October and the bookings made with the card. Will cancel on return though.

      • alcadive on 12/09/2024 - 18:39

        Damn I was just about to cancel mine but I’m in the same boat (plane) as well. Thanks for the reminder.

    • jaimex2 on 12/09/2024 - 19:20
      -1

      You'll probably NOT get the deal because you didn't cancel

      • SickDmith on 12/09/2024 - 20:30

        Wait, are you getting SMS after you cancel?

        • jaimex2 on 12/09/2024 - 22:59

          Yep

          I have a letter saying they have cancelled the card but it's clear they haven't.

  • littlesoldier on 12/09/2024 - 13:23
    +23

    probably a reaction after massive cancellations….

    • antheak on 15/09/2024 - 08:51
      +1

      Apparently, Bendigo and BankWest are groaning under the weight of new applications for their CCs, people fleeing from Latitude.

      • korda on 16/09/2024 - 12:49
        +1

        Indeed, it's been over a month since I applied for a Bendigo card. I have received 5 text messages saying I'm still in the queue.

  • MeesusEff on 12/09/2024 - 13:25
    +7

    Damn, didn't get the sms, only got an email for 3 months interest free

  • foxes28 on 12/09/2024 - 13:25
    +3

    Could be targeted. I don't get SMS either. Will cancel in the next few days before the monthly fee starts.

    • XoiThit on 12/09/2024 - 20:05
      +1

      You should act quickly. It takes them a couple of days to process it.

      • foxes28 on 12/09/2024 - 20:34

        Will do thanks!

  • cyrax83 on 12/09/2024 - 13:25
    +34

    too late, cya later. good riddance

    • montorola on 12/09/2024 - 20:30
      +2

      Cyrax Wins.

      Frugality.

  • Midas on 12/09/2024 - 13:26
    +5

    Worst customer service. Asking to cancel and repalced my card but it never happened. Eventhough I called and talked to customer service that promised to send a new card.

  • 1jwoz on 12/09/2024 - 13:28

    Haven't got the sms yet but just submitted some more price protection claims for a few bucks here and there because why not.

  • spidermate on 12/09/2024 - 13:33

    Got the sms at 13.12 pm

  • ronnknee on 12/09/2024 - 13:34

    Didn't get the SMS either. Will take the deal if I do get it, but otherwise will be cancelling in the next few days.

  • bar gain man on 12/09/2024 - 13:37
    +15

    cancelled today. had 28degrees card from 2011

    • woodsy175 on 12/09/2024 - 14:25

      Did they attempt to retain you with any offer similar to this? I’m in a similar situation about to cancel also.

      • INFIDEL on 12/09/2024 - 14:35
        +17

        Signed up 18 years ago - cancelled last month because of fees.
        They didn't even say goodbye!
        Wouldn't go back to 28degrees!

        • sumyungguy on 12/09/2024 - 15:20

          Wizard Clear Advantage Mastercard?

        • yht on 14/09/2024 - 18:44

          Nowadays there is no credit card provider will try to entice you to stay, seems that since the new government regulation in place few years ago. At least from my experience.

      • UrMumsOnlyFan on 12/09/2024 - 23:13
        +6

        Since 2019 if you request to cancel your card they are legally required to cancel your card. They must not attempt to talk you out of it.

        If you want to discuss retention offers then you need to ask about that without actually requesting to cancel.

        https://www.pointhacks.com.au/how-to-get-your-credit-card-an…

        So, for example, if the cardholder says, ‘I wish to close my card,’ then the provider must reasonably assist in doing this, meaning that they cannot proactively offer bonus points to retain the cardholder’s business.

        However, if you say, ‘I’m thinking about closing my card, but would like to explore if you have any offers available to me before I decide to close,’ then a bonus retention offer is still okay.

        • grasstown on 13/09/2024 - 07:17

          Thank you. I had not thought of that.

        • Legoman on 14/09/2024 - 13:01

          This assumes that Latitude have any respect at all for laws and governance and compliance with regulation. They have proven over and over again that they do not. There has still been no resolution at all from them for their data breach and APRA/ASIC are slow walking the case to the end of time to ensure that ultimately Latitude get away with no consequences. Suggesting that Latitude are now suddenly going to grow a conscience and start complying with their regulation and compliance responsibilities is fantastically optimistic to say the very least!

      • bar gain man on 13/09/2024 - 15:49

        No they didn't attempt to retain me.

        • eatwell365 on 14/09/2024 - 18:41

          They told me just to close it yourself in the app. Feel like that they don't even blink and happy to shovel the customers out the door. Just be aware - you can only close the account when the full balance is paid. It may take few days for your payment to go through, so avoid leaning it to last minute if you want to close before start being charged fees.

  • Car-la-la on 12/09/2024 - 13:41

    Haven't received any SMS as yet unfortunately, but I'll definitely be cancelling before the $8pm begins

    • bar gain man on 13/09/2024 - 15:54

      You will get an email. That's it.

  • Vavoom on 12/09/2024 - 13:41
    +5

    One week out from their Sept 19th deadline lol. Screw em.

    • Legoman on 14/09/2024 - 13:03

      17th

  • plasmapuff on 12/09/2024 - 13:41
    +11

    Not a credit card but the HSBC Debit Card has replaced 28 degrees for me since they're tone death fee announcement.

    Bonus of 2% cashback on tap and pay under $100. No annual fees. Need to transfer $2K in and out which is a lot easier now because of Osko which is instantaneous both ways.

    • eediot on 12/09/2024 - 13:49

      Any international transaction fees?

      • zelliot on 12/09/2024 - 14:24
        +2

        0% FX fees

        • hayfeverman on 13/09/2024 - 06:53
          +2

          Be careful as it uses HSBC FX which is not good. Fee free MC/Visa is better.

          • zelliot on 13/09/2024 - 11:32

            @hayfeverman: Oh! For real?! I didn't know. Thanks.

          • Legoman on 14/09/2024 - 13:13
            -2

            @hayfeverman: Yep, looks good from afar, but is actually far from good. The negatives…
            1. Debit card vs Credit card - debit useless for big ticket items eg. car/hotel hire
            2. Cashback only on card present PayWave transactions - have to go physically shopping to claim. Online and anything over $100 exempt. After inflation and price rises, the number of times you will actually spend < $100 in person with the physical card will be so trivial a small number to get 2% cashback, it can safely be ignored.
            3. Transfer $2,000 in/out every month just for an almost unclaimable 2% cashback is a massive flaming hoop to jump through for at best mere crumbs in terms of cents cashback. You'd be much further ahead collecting aluminium cans and taking them for the 10c return refund!
            4. International Forex fee built into crappy proprietary HSBC exchange rate = not forex free. More like 3% at least compared to retail Mastercard rate.

    • BuyNow Think Later on 12/09/2024 - 14:41
      +1

      HSBC didn't have Osko. Only incoming fast payment. To which bank can you fast payment to from HSBC?

      • leeroys_dad on 12/09/2024 - 15:39
        +2

        Cba to HSBC is instant

      • cvl on 12/09/2024 - 15:45
        +2

        i think its fast payments from the app only

      • idwjbehca on 12/09/2024 - 17:37

        ubank / 86400 (rip) is instant, Macquarie also instant in my experience. I mainly use HSBC as a middle account to deposit to my brokerage now, since they also use HSBC as their deposit taking institution so it's instant that way.

      • plasmapuff on 12/09/2024 - 17:58

        Could be a new thing. To Westpac and NAB is both instant via Osko.

      • Bargain321 on 13/09/2024 - 18:09

        HSBC to ING & vice versa also instant.

      • UrMumsOnlyFan on 28/09/2024 - 11:50

        It was previously possible to make outgoing fast payments from HSBC to at least a few banks as others had commented above.

        But last weekend I noticed my transfer from HSBC to ubank was not instant and only arrived on the Monday.

        Checking in the app today, it now says 2 business days for every other bank I have. I made 1c transfers to test/confirm and none of them were instant.

        Looks like the Beem app will be necessary once again.

        • tqf8h on 28/09/2024 - 15:42

          It is instant when done through the app, but not instant if done through online banking. Maybe this is why. Security is the reason for why there is this restriction, but hsbc isn't the only bank that does this. Or there is a limit on how much money can be transferred instantly. Bankwest for example has a limit of $5000 for instant. Transfers and a $25000 total daily transfer limit iirc

          • UrMumsOnlyFan on 28/09/2024 - 23:02

            @tqf8h: No, I only use the app. It is no longer instant for me.

            If it is still instant for other people I would be very curious as to why/how HSBC has done that.

            • timhn on 29/09/2024 - 08:09

              @UrMumsOnlyFan: Just transferred HSBC <-> NAB, both ways were instant.

              • UrMumsOnlyFan on 29/09/2024 - 21:05

                @timhn: Thanks for the data point. As I say, very interested to know why/how they've done that to me and possibly other people as well.

                Perhaps it is part of the welcome package for recently qualifying as a Premier customer 😂

                Fortunately Been works fine so I don't have to bother enquiring.

    • twig on 12/09/2024 - 19:01

      Wow 2% cashback? That negates surcharges, very appealing

      • Legoman on 14/09/2024 - 13:25
        -2

        You know what else negates a surcharge? EFTPOS, which funnily enough I'm betting the exact same card can also do!
        Your choices:
        1. PayWave - routed by card payment processor VISA, surcharge applies +~1.5% card fee on bill, then get 2% cashback to cover the surcharge
        2. Pay by EFTPOS - no surcharge at all, walk away happy and no worse off.

        Best of all, you don't have to pfaff about sending $2,000 back and forth to get EFTPOS to work and EFTPOS works on any amount, not just those under $100. I'd go with option 2. every single time given the choice.

        • twig on 14/09/2024 - 16:14

          Nice reminder about EFTPOS, but you won't get the cashback without the $2k faffing about every month

          The first time you qualify, we will send you an email confirming you have unlocked Everyday Extras. As soon as you deposit $2,000 or more into your Everyday Global Account, you will qualify for the 2% cashback7 on eligible tap and pay purchases under $100.

          https://www.hsbc.com.au/accounts/products/everyday-global/fa…

          • Legoman on 14/09/2024 - 17:46
            -1

            @twig: It's one OR the other, not both. You either EFTPOS and avoid the surcharge altogether OR you PayWave, incur the surcharge for routing via VISA and then claim the 2% cashback to cover the surcharge.

            One is a direct route straight to the end destination. The other is around a roundabout, over several speed humps, across a one-way single lane bridge and contraflow up a one-way street to get to the end destination.

    • jbrizzy on 13/09/2024 - 00:07
      +1

      Only on "tap and pay" transactions.
      Careful as these sometimes result in surcharges with the retailer.

    • hayfeverman on 13/09/2024 - 06:54

      I use this too but not for international. In fact I believe the 2% doesn't work for international but it might depend on where you went.

  • watwatwat on 12/09/2024 - 13:41
    +4

    Haha I cancelled last night.

    Eh. I already moved to bankwest so at least I don't need to worry about annual fees coming in the future at all.

    • jee on 12/09/2024 - 14:01
      +1

      which bankwest card is comparable?

        • razzy on 12/09/2024 - 14:38
          +2

          Does this also have zero currency conversion charges like 28 degrees?

          • greennick on 12/09/2024 - 16:03
            +1

            @razzy: It is even better. You can take out cash at an overseas ATM for only a reasonable ATM fee (like 5 or so bucks I can't recall). Otherwise it is all at the MC rate.

            • blazerunner on 12/09/2024 - 16:41
              +4

              @greennick: Wouldn't a cash withdrawal on the Platinum credit card be considered a cash advance? If so…

              Cash advance fee: 3% of transaction amount or $4 (whichever is greater)

              And that doesn't include local operator fee which can be crazy-high in some places like Dubai, Thailand, Bali. ING used to reimburse this but no more.

              Cheapest way at all ATMs would be to get a debit card with no international withdrawal fees (Ubank, Up, etc) for this purpose. Bank-specific ones (e.g. HSBC) can do free withdrawal in some places but limiting which ATMs you can use is a bit of a pain in the ass.

              Source: I am a tightass and like to travel.

              • paaj on 12/09/2024 - 19:15

                @blazerunner: Bankwest debit mastercard withdrawal was fee free for me (overseas). Maquirie debit mastercard is also very good

              • c9 on 12/09/2024 - 21:13
                +1

                @blazerunner: If you pre load money to above your credit limit, then there is no advance fee. Just need to time it right in a trip, first get the cash out, then use the card as usual

                • blazerunner on 12/09/2024 - 21:46

                  @c9: Oh nice, didn't know that! I wonder if it's the same for CBA.

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