Compare Latitude Financial Services Credit Cards

Compare Latitude Financial Services credit cards by benefits, features, rates, and fees to make an informed decision before applying.

By   |   Updated 12 Mar 2024

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Comparing Latitude Financial Services credit cards

Latitude 28° Global Platinum Mastercard®

On website

Latitude 28° Global Platinum Mastercard®

Highlights

  • $0 yearly fee.
  • Zero currency conversion charges.
  • No foreign transaction fees for purchases during travel or online shopping.
  • Interest rate of 22.99% per annum on purchases and cash advances.

Pros

  • The $0 annual fee.
  • No currency conversion free or foreign transaction fee.
  • Enjoy up to 55 days interest-free on purchases.
  • Free Global Wi-Fi at more than 1 million hotspots worldwide.

Cons

  • A high purchase interest rate of 22.99% p.a.
  • There is no rewards program on this card.
  • In-person payment handling fees of $2.50 is expected to increase to $3.95.
Latitude Gem Visa

On website

Latitude Gem Visa

Highlights

  • Utilize their interest-free payment options at numerous stores.
  • Immediate 6 months interest-free for purchases totaling $250 and above.
  • Rather than an annual fee, Latitude Gem Visa imposes a monthly fee equating to $119.40 annually.

Pros

  • 0% for 6 months on everyday purchases amounting to $250 and over.
  • The 0% on interest-free payment plans.
  • A $9.95 monthly account service fee will be waived if you make payments in full and keep a balance less than $10).

Cons

  • The standard cash advance rate of 25.90% p.a.
  • 3% foreign exchange fee.
  • Large late payment fee.
Latitude GO Mastercard

On website

Latitude GO Mastercard

Highlights

  • Interest-free deals available from numerous online and in-store retailers.
  • No initial account setup fee and a maximum of 55 interest-free days.
  • A $8.95 monthly account maintenance fee for balances exceeding $10.

Pros

  • The 0% on interest-free payment plans.
  • Enjoy 6 months interest-free on everyday purchases over $250.
  • Up to 55 interest-free days.

Cons

  • High 25.90% p.a. interest rate on everyday purchases.
  • High late payment fee of $35.
  • A monthly account service fee instead of an annual fee.

Latitude Financial Services, formerly GE Money, is a prominent consumer finance company in Australia and New Zealand, managing over 2.6 million customer accounts. It is one of Australia's select credit card providers, featuring extended, in-store finance options through retail partnerships. Latitude offers credit cards with benefits such as no annual fees, no foreign transaction fees, and flexible instalment plans.

Benefits of Latitude Financial Services credit cards

  • Flexible rewards programs: Latitude credit cards may offer rewards such as cashback, frequent flyer points, or rewards that can be redeemed for various benefits.
  • Interest free periods: Some Latitude cards provide a promotional interest-free period on purchases, allowing you to manage your expenses without incurring interest.
  • Competitive rates: Enjoy competitive interest rates on purchases and balance transfers with certain Latitude credit cards.
  • Additional perks: Depending on the card, you may receive extras like complimentary insurance, concierge services, and exclusive offers.

Features of Latitude Financial Services credit cards

  • Interest rates: Learn about the applicable interest rates for purchases, cash advances, and balance transfers on Latitude credit cards.
  • Fees and charges: Understand the various fees associated with the cards, including annual fees, late payment fees, and foreign transaction fees.
  • Rewards structure: Delve into the details of the rewards program attached to each card, including how rewards are earned and redeemed.
  • Credit limits: Explore how Latitude Financial Services determines credit limits for cardholders.
  • Online account management: Discover the convenience of managing your card online, including making payments, viewing transactions, and setting up alerts.

Applying for a Latitude Financial Services credit card

The application process for a Latitude credit card is typically straightforward and can often be completed online. Here are the general steps involved:

  1. Research: Compare the different Latitude credit card options to find the one that best aligns with your needs and spending habits.
  2. Application: Fill out the online application form with your personal and financial details. Be sure to provide accurate information.
  3. Verification: Latitude may require additional documentation to verify your identity and income.
  4. Approval: Once your application is submitted, Latitude will review it and notify you of the decision.
  5. Receiving your card: If approved, you will receive your new credit card in the mail along with relevant documents and instructions.

Managing Your Latitude Financial Services Credit Card

After receiving your Latitude credit card, it's essential to manage it responsibly to make the most of its benefits. Here are some tips:

  • Payment: Pay at least the minimum amount due on time each month to avoid late fees and maintain a good credit score.
  • Budgeting: Keep track of your expenses within your credit limit to prevent overspending.
  • Security: Safeguard your card details and immediately report suspicious activity or unauthorised transactions.
  • Utilising rewards: Use rewards and benefits from your Latitude credit card to enhance your experience.

Help choosing a Latitude Financial Services credit card

Helpful details to help you compare Latitude Financial Services versus other banks.

  • FAQs

  • Pros & cons

What types of credit cards does Latitude Financial Services offer?

Latitude Financial Services offers a variety of credit cards, including low rate cards, rewards cards, and interest-free payment plan cards. Each card is designed to suit different spending habits and financial needs, from those who prefer to save on interest to those who enjoy earning rewards on their purchases.

How can I apply for a Latitude credit card?

To apply for a Latitude credit card, you can visit the Latitude Financial Services website and navigate to the credit cards section. Here, you'll find detailed information about each card and a link to the online application form. The process involves providing personal, financial, and employment details. You can also apply by contacting Latitude's customer service directly.

Are there any annual fees associated with Latitude credit cards?

Yes, some Latitude credit cards come with an annual fee, which varies depending on the card you choose. There are options available without annual fees, but these may offer different benefits compared to those that do charge a fee. It's important to review the terms and conditions of each card to understand the associated fees.

Can I manage my Latitude credit card account online?

You can manage your Latitude credit card account online by registering for Latitude's online service. Once registered, you can view statements, make payments, check your balance, and update personal details anytime, making it convenient to manage your finances.

What rewards programs are available with Latitude credit cards?

Latitude offers rewards programs with some of its credit cards, allowing cardholders to earn points on eligible purchases, which can be redeemed for a variety of rewards, including merchandise, gift cards, and travel. The specifics of the rewards program, including how points are earned and redeemed, depend on the card you have.

How does Latitude determine the credit limit for a credit card applicant?

Latitude determines the credit limit for a credit card applicant based on their individual financial circumstances, including their income, credit history, and existing debts. The process is designed to ensure the credit limit is manageable for the applicant, helping to prevent financial stress.

Pros

Flexible rewards program

Latitude Financial Services Credit Cards offer a versatile rewards program, allowing cardholders to earn points that can be redeemed for various rewards such as travel, merchandise, or cashback, providing flexibility and value.

Competitive interest rates

Compared to many other credit cards in the market, Latitude Financial Services Credit Cards often offer competitive interest rates, making them an attractive option for those seeking affordable credit options.

No annual fees

Some Latitude credit cards come with no annual fees, which can be a significant advantage for cardholders looking to minimize their costs and maximize their savings.

Wide acceptance

Latitude Financial Services Credit Cards are widely accepted domestically and internationally, providing convenience and flexibility for cardholders who frequently travel or shop online.

Additional perks

Depending on the specific card, Latitude credit cards may offer additional perks such as complimentary insurance coverage, extended warranty protection, and purchase protection, enhancing the overall value proposition for cardholders.

Cons

Limited rewards redemption options

While Latitude Financial Services Credit Cards offer a rewards program, the redemption options may be limited compared to some other rewards programs, potentially limiting the value for certain cardholders.

Foreign transaction fees

Some Latitude credit cards may charge foreign transaction fees, which can add up significantly for cardholders who frequently travel internationally or make purchases in foreign currencies.

Potential for high-interest charges

Although Latitude credit cards may offer competitive interest rates, cardholders who carry a balance from month to month may still incur high-interest charges, potentially offsetting any savings from lower rates.

Eligibility criteria

Some Latitude credit cards may have strict eligibility criteria, including minimum income requirements or credit score thresholds, which could exclude certain individuals from accessing these cards.

Limited customer service options

Latitude Financial Services may have limited customer service options compared to larger banks or financial institutions, which could result in longer wait times or less personalized assistance for cardholders seeking support or assistance.