Latitude 28º Global Platinum Mastercard
- Last updated on 12 Aug 2020
Balance Transfer Rate
Max Free Days
- No Annual Fee
- Free supplementary cards
Number free supplementary
Interest Free Days
Interest Free Days
Maximum credit limit
No set max
Late Payment Fee
Minimum credit limit
Over limit fee
Minimum repayment dollars
Duplicate statement fee
Minimum repayment percent
Supplementary card annual fee
Cash advance rate
Cash advance fee
3% or $4
Balance Transfer Rate
Balance Transfer Rate
No set max
Balance Transfer Fee
Foreign Exchange Fee
Estimated ATM Cost
- FREE SUPPLEMENTARY CARDS
No annual fee, currency conversion fees or foreign transaction fees on purchases
Overseas cash withdrawals from ATMS are treated as cash advances and incur a fee of 3% of the cash advance or $4, whichever is greater.
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Latitude Financial Services (also known as Latitude) is a financial services company based in Australia and New Zealand, with their Australian headquarters in Melbourne. As of 2018, Latitude had around a 6 per cent share of Australia’s personal lending market. This made it the biggest non-bank lender of consumer credit in Australia.
Latitude has over 2.5 million customers through its credit cards, car loans, personal loans, home loans and consumer credit insurance. It also offers a buy-now-pay-later service, called LatitudePay.
Latitude is a common fixture amongst many Australian retailers, such as Harvey Norman and JB HiFi. Its cards can be used to obtain interest-free financing over a number of months.
The Latitude 28° Global Platinum Mastercard is a credit card with no annual fee, high interest rates, a moderate number of interest-free days and a moderate late payment fee. The card does not have an associated rewards scheme, though Mastercard does provide exclusive offers and experiences for card holders.
This card is known for being a sensible travel card, as it has no fees on overseas purchases both abroad and online, as well as no international currency conversion fees. The Latitude 28° Global Platinum Mastercard also comes with a free concierge service that can help you plan your next holiday, as well as special travel offers for card holders.
The card is eligible for Apple Pay, allowing customers to pay simply and securely with their phone.
- No annual fee
- No overseas spending fees
- Mastercard exclusive offers
- High interest rates
- No complimentary insurance
- No frequent flyer points
Who is it good for?
The Latitude 28° Global Platinum Mastercard is best for overseas travellers. In particular, this card is suitable for regular travellers who always pay their balance in full each month, as this will avoid the card’s high interest rates.
Although the Latitude 28° Global Platinum Mastercard has advantages for travelling, the card does not have an associated rewards scheme to earn card holders points or frequent flyer miles. For credit card users who want to receive travel benefits as they spend, there are other cards on the market that earn frequent flyer points for a range of airlines.
This card is also not well suited to budget card holders who struggle to pay their balance in full each month. Though there is no annual fee, the high interest rates may become problematic for those who regularly pay only part of their balance.
What RateCity says
The Latitude 28° Global Platinum Mastercard may be a sensible choice for card holders who often travel overseas. The card charges no fees for international spending while abroad and also does not have a currency conversion fee, as many other credit cards do. There are also no fees for online purchases from international vendors.
However, frequent travellers may wish to have a credit card that offers travel perks as they make purchases. Some cards have a rewards scheme that earns frequent flyer points on eligible purchases. Customers seeking frequent flyer points may be better off searching for a credit card with a rewards scheme to fit their travel preferences.
This card may also be a reasonable choice for card holders who don’t travel overseas, but do shop online often and want to minimise costs.
In order to be an eligible applicant for the Latitude 28° Global Platinum Mastercard, you must be at least 18 years of age and be either an Australian citizen or Australian permanent resident. When applying, you must provide a driver’s licence, passport or proof of age card in addition to details of your income, assets and liabilities. Most applicants will also need their employer’s name and contact details. Customers can apply online.
About Latitude Financial
Latitude Financial is an independent financial services provider in Australia and New Zealand. Latitude Financial Services delivers credit cards, loans and insurance to consumers. Their insurance offering includes credit card insurance, travel insurance and car insurance, and their loan offering provides debt consolidation, home improvement, car loans and personal loans. Latitude Financial serves over 2.5 million customers. Customers can contact Latitude Financial Services at any time either online or over the phone.
Property Personal Finance Writer
A property and personal finance writer, Nick Bendel covers property, loans, credit cards, superannuation, and other bank products. Nick has previously written for The Adviser, Mortgage Business, Lifehacker, Business Insider, Yahoo Finance, and InvestorDaily, and loves getting elbow-deep in the latest ABS, APRA and RBA data.
If you have a bad credit score, you might encounter two main problems. First, the lower your credit score, the more likely you are to be rejected when you apply for a loan or any other credit product. Second, if your application is accepted, the less likely you are to qualify for the lowest interest rates.
The reason Equifax, Experian and Illion use different scores is because they are independent companies with their own different methodologies. As a result, a score of, say, 700 would mean different things at different credit reporting bureaus.
However, the one thing they have in common is that they divide their scores into five tiers. So if you receive a tier-two credit score from one bureau, you will probably receive a tier-two score from the others, as well.
Yes, as credit card providers look at your annual income amount as well as your occupation. Minimum income requirements tend to be between $30,000 – $40,000 for standard and rewards credit cards, however low income credit cards can have minimum income requirements as low as $15,000 per year.
There are two reasons you should check your credit rating: so you have a better understanding of your financial position, and so you can take action (if necessary) to improve your credit rating.
Lenders use credit ratings or credit scores to assess loan applications. The higher your score, the more likely you are to get approved, and the more likely you are to be charged lower interest rates and lower fees. Conversely, the lower your credit score, the less likely you are to get approved, and the more likely you are to be charged higher interest rates and higher fees.
Credit cards are a quick and convenient way to pay for items in store, online or over the phone. You can use a credit card as a cashless way to pay for goods or services, both locally and overseas. You can also use a credit card to make a cash advance, which gives you the flexibility to withdraw cash from your credit card account. Because a credit card uses the bank’s funds instead of your own, you will be charged interest on the money you spend – unless you pay off the entire debt within the interest-free period. If you pay the minimum monthly repayment, you will be charged interest. There are many different credit card options on the market, all offering different interest rates and reward options.
A balance transfer credit card lets you transfer your debt balance from one credit card to another. A balance transfer credit card generally has a 0 per cent interest rate for a set period of time. When you roll your debt balance over to a new credit card, you’ll be able to take advantage of the interest-free period to pay your credit card debt off faster without accruing additional interest charges. If your application is approved, the provider will pay out your old credit card and transfer your debt balance over to the new card.
For most Australians, there are no great barriers to applying for and getting approved for a credit card. Here are some points that a lender will consider when assessing your credit card application.
Credit score: A bad credit score is not the be all and end all of your application, but it may stop you being approved for a higher credit limit. If your credit score is less than perfect, apply for the credit limit that you need, rather than the one you want.
Annual income: Most credit cards have minimum annual income requirements. Make sure you’re applying for a card where you meet the minimum.
Age & residency: You need to be at least 18 years old to apply for a credit card in Australia, and most require that you are an Australian citizen or permanent resident. However, there are some credit cards available to temporary residents.
There is no one-size-fits-all best rewards credit card. It's best you research what type of rewards program you'd like, as well as the fees, interest rate and conditions associated with those types of cards before making a choice.
Rewards credit cards can also come with high annual fees that may end up nullifying the rewards, so think how often you use the card to decide whether the benefits outweigh the extra cost for you. A card with a lower annual fee might require a lot of spending to get any useful rewards, while another card with a higher annual fee might need fewer purchases to get a reward.
Losing your credit card is a serious situation, and could land you in financial trouble. Here is a simple guide detailing what to do when you lose your credit card.
Lock you card – Contact your provider and inform them about your lost credit card. From here lock, block or cancel your card.
Keep track of transactions – Look out for unauthorised credit card transactions. Most banks protect against fraudulent transactions.
Address recurring charges – If your card is linked to recurring charges (gym membership, rent, utilities), contact those businesses.
Check credit rate – To ensure you’re not the victim of identity theft, check your credit rating a month or two after you lose your credit card.
If you’re wondering about how to make a credit card online application, here are some steps to follow:
- Test the market. Many credit card options are available online. Compare providers by fees, interest and perks to ensure you’re getting the best deal.
- Complete the application. Once you’ve selected a card, head to the provider’s website and complete the online credit card application form. Forms vary by providers.
- Provide details. Most cards require you to meet age, residency, income and credit status condition, and you need to provide details like a bank account statement to prove this.
- Review details. Ensure the information you’ve entered is correct.