Balance Transfer Rate
Max Free Days
- Balance Transfers Available
- Free supplementary cards
- Purchase protection insurance
Number free supplementary
Interest Free Days
Interest Free Days
Maximum credit limit
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 $1.95
Balance Transfer Rate
Balance Transfer Rate
max card limit
Balance Transfer Fee
Foreign Exchange Fee
3% on Mastercard
Estimated ATM Cost
- FREE SUPPLEMENTARY CARDS
- PURCHASE PROTECTION INSURANCE
Compare and review credit cards with similar features
Bendigo Bank Low Rate Mastercard
for 12 months then $45
Balance Transfer0% on Balance Transfers for 6 months. $0 annual fee in Year 1 then reverts to $45. Get a $150 Woolworths Supermarket Gift Card when you spend $1k in 60 days.
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 Financial Services Latitude Mastercard has high interest rates, a moderate annual fee and a moderate late or missed payment fee. The card does not have an associated rewards scheme. The card does not include any complimentary travel insurance.
The Latitude Financial Services Latitude Mastercard charges several foreign spending fees, including an overseas ATM fee and an international transaction fee.
The Latitude Mastercard allows customers to manage their money online, with access to their Latitude Financial Services account at any time. Customers can also choose to protect their card and purchases with shopper’s protection insurance. Shopper’s protection insurance covers your card if it becomes lost or stolen as well as protects your purchases.
The Latitude Financial Services Latitude Mastercard is eligible for Apple Pay, allowing customers to make secure purchases with their mobile devices.
- Shopper’s protection insurance
- Eligible for Apple Pay
- Online banking services
- High interest rates
- Annual fee charged
- No frequent flyer points
Who is it good for?
The Latitude Financial Services Latitude Mastercard may suit current Latitude customers who want to keep their banking under one roof. The card has moderate fees and may be suited for everyday spending.
This credit card is not particularly well suited to budget card holders. The high interest rates make this card better for customers who are confident about paying their bill in full each month. The Latitude Mastercard has a moderate annual fee that may deter those who wish to minimise credit card costs.
The Latitude Mastercard is also not a good fit for credit card customers who want rewards. The card does not have an associated reward scheme and does not earn points for purchases. For those looking for a rewards card, it may be best to shop the market and find a rewards scheme that best fits your preferences.
What RateCity says
The Latitude Financial Services Latitude Mastercard may be a convenient choice for existing Latitude customers. However, the card offers little benefit to most other potential card holders.
This credit card does not offer a rewards scheme for customers who wish to earn frequent flyer benefits or rewards points for cash back. The card also does not offer complimentary insurances, but rather provides an optional purchase protection insurance. For customers in search of rewards, there are cards with a reward scheme to fit their needs.
With high interest rates and moderate fees, this card also offers few advantages to the budget card holder. Customers who struggle to pay off their bill each month should consider a card without an annual fee and lower rates. Card holders with current debt may benefit from a card that has an introductory balance transfer offer.
In order to be eligible for the Latitude Financial Services Latitude Mastercard, you must be at least 18 years old and meet serviceability criteria. When applying, there may be important documents to have handy. The applications may require you to give proof of your identity with an Australian driver’s licence or passport. You may also need to submit financial details such as recent payslips, bank statements, expenses or employment details.
About Latitude Financial Services
Latitude Financial Services is an independent financial services provider operating in Australia and New Zealand. Latitude serves more than 2.5 million consumer customers, offering a wide range of financial products including credit cards, personal loans and consumer credit insurance. Although Latitude Financial Services is known for their banking products for individuals, Latitude also services business and retail clients. Formerly called GE Capital Finance, Latitude Financial Services was renamed in 2014.
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.
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.
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.
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 credit card can be a useful financial tool, provided you understand the risks and can meet repayment obligations.
If you’re a credit card first-timer, review your options. Think about what kind of credit card would suit your lifestyle, and compare providers by fees, perks and repayments.
Once you’ve selected a card, it’s time to apply. Credit card applications can generally be completed in store, online or over the phone.
When you apply for a credit card for the first time, you must meet age, residency and income requirements. As proof, you must also provide documentation such as bank account statements.
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.
Think of credit cards as a short-term loan where you use the bank’s money to buy something up front and then pay for it later. Unlike a debit card which uses your own money to pay, a credit card essentially borrows the bank’s money to fund the purchase. When you apply for a credit card, the bank assesses your income and assigns you a credit limit based on what you can afford to pay back. At the end of each billing cycle, which is usually monthly, the bank will send you a statement showing the minimum amount you have to pay back, including any interest payable on the balance.
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.