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Latitude 28° Global Platinum Mastercard®
Balance transfer
N/A
Purchase rate
27.49% p.a. ongoing
Annual fee
$0.00 p.a. ongoing
Highlights
- $0 yearly fee.
- No foreign transaction fees for purchases during travel or online shopping.
- You and four friends can access airport lounges, drinks, and Wi-Fi if your flight is delayed.
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At last, a credit card that understands how we live now as global citizens on the move around the world, either in person or online. The 28° MasterCard is set to become the card of choice for travellers, online shoppers, and anyone with an international outlook. It has the big five points such users are looking for:
- No international transaction fees on purchases
- No foreign currency conversion fees
- No overseas ATM withdrawal fee
- No overseas ATM account balance enquiry fee
- No fee to replace a card lost or stolen while overseas
- And if you’re looking for an important extra ‘no’, it’s there: no annual fee.
Let’s take a detailed look at what some of this really means.
Some cards charge foreign currency transaction/conversion fees of 3.5%
When you make a purchase in a foreign currency, whether while travelling or online, you are already at the mercy of a fluctuating exchange rate. It might seem that you are getting a bargain, but often you won’t really know how much it’s going to cost you in Australian dollars until the transaction hits your account.
Then, with most credit cards, there are the added fees that the bank charges for foreign currency transactions and conversion into Australian dollars, a combination of the bank’s own processing fee and a charge payable to Visa, AmEx or MasterCard. This combined charge is typically 3%, or more, of the purchase amount and can be as high as 3.5%.
So your bargain New York hotel room at US$125 per night may already cost you AU$180, depending on the exchange rate. Add 3.5% to that amount, and you’re looking at US$186.30 before you’ve even had breakfast. Nasty.
If you make regular online purchases from overseas suppliers – and let’s face it, we do seem to pay very high prices for some consumer goods in Australia – then this card will be a godsend. Traders who source their stock internationally will be particularly happy with the ability to reduce their costs.
Use a 28 Degrees MasterCard and avoid that 3.5% fee altogether
Some cards charge a fee for cash withdrawals from overseas ATMs
When you’re on home soil, you probably habitually use your bank or card issuer’s ATM to avoid the transaction fees that come with using another bank’s machine. Trouble is, once you’re overseas, you won’t find any of your own bank’s ATMs. So, if you need to withdraw cash from your credit card account, you may be stung for an overseas ATM withdrawal fee, normally at least $4. This is in addition to any cash advance fee payable (which for the 28 Degrees MasterCard is 3%, rather higher than the 2% fee many banks charge).
But if you use a 28° Degrees MasterCard, there will be no overseas ATM withdrawal fee.
But beware – an overseas ATM withdrawal is a cash advance
There’s no escaping from the fact that an overseas ATM withdrawal from your credit card is a cash advance, just like in Australia. It may be fast, convenient, open all hours and free of any requirement to speak a foreign language, but it’s still a cash advance. You’ll start paying interest on it immediately at the cash advance rate (22.99% p.a. for this card), and if you don’t do anything about it until your return to Australia, you’ll have racked up some hefty interest costs to take the shine off your trip. It’s best to find another way to access cash overseas, like a prepaid travel money card.
Tip: You can use your 28 Degrees MasterCard to withdraw cash overseas and pay little or no interest. After you make the withdrawal, use your mobile phone or other internet-connected device to access your credit card account online. Once you see the cash advance amount in AUD in your account (this may take a day or two), simply transfer into your credit card account the equivalent amount from your Australian bank savings or transaction account. Provided you have no overdue balance on your credit card account, the cash transfer will be applied to your cash advance immediately and the interest charge will be a few cents at most.
Some cards charge an exorbitant fee for overseas emergency card replacement
Losing your credit card overseas, or having it stolen, is bad enough. Is someone using your card fraudulently? How will you check out of your hotel with no means of payment? But if you have to add to that the pain of the $100 charged by some card issuers for an overseas emergency replacement card, you may begin to feel that you’ve been done over twice.
28° MasterCard users can avoid that extra sting and get on with enjoying their trip, because overseas emergency card replacement is free.
Notify your card issuer if you are going overseas
While on the subject of emergency card replacement, it’s reassuring to know that this card is protected by a Falcon Fraud Management System and a skilled Fraud Solutions Team who contact cardholders by phone or SMS immediately after they notice any suspect transactions.
This is a comforting level of security, but some users of the card have reported problems with using the card overseas, finding their card unexpectedly blocked. So the card issuer’s recommendation that users advise them before embarking on an overseas trip is probably better interpreted as a mandatory requirement.
MasterCard SecureCode, a system of security questions or a one-time password delivered by SMS, also helps to protect you from fraudulent online shopping transactions.
No annual fee
Since you won’t be charged any annual fee for this card, it’s possible to keep it on standby for overseas trips or online shopping, even if you have another card that you prefer to use when dealing with Australian retailers. You can also have up to nine supplementary cards on the account, which makes it perfect for a small business with trusted employees who need to travel or purchase internationally.
More benefits for travellers
To underline the fact that this is a card designed for international travellers, there are more built-in advantages for people on the move:
- Visa Platinum global 24/7 concierge service. Wherever you are in the world, if you need advice or reservations for travel, restaurants, entertainment or tours, the Visa concierge service is there to help. They're just a phone call, mouse click or screen tap away.
- Optional international travel insurance. Note that this is not complimentary insurance coverage, and you will have to pay.
No rewards points, no introductory offers, no low interest rates
While there are none of the usual overseas transaction fees, and no annual fee, some of the perks commonly associated with credit cards are also missing.
Although you’ll get up to 55 days interest-free each month (provided you have no overdue balance on your account), there are no introductory zero-interest periods on either purchases or balance transfers.
There are no reward points or free insurance policies. The ongoing purchase and cash advance interest rates (27.49% and 29.99% p.a. respectively) are at the high end of the market. If you are looking for low interest rates, this is not the card for you.
User profile for the 28° Degrees MasterCard
It’s pretty clear, then, that this card is ideal for someone who either travels overseas regularly or shops online frequently with suppliers whose charges are made in a foreign currency. This same hypothetical user is not concerned about the high purchase and cash advance interest rates, planning to always pay the account balance in full by the due date in order to benefit from up to 55 interest-free days and never pay interest charges. Since there is no annual fee, it’s a no-brainer for this person to keep it in their wallet for when they are in overseas mode.
Reviewed by Credit Card Compare Staff
History
User reviews
Convenience
Customer service
Rates and fees
Rewards
Trust
Best travel card in Oz!
Reviewed by Ryan
Best card when travelling
Reviewed by cherylh
Love this card
Reviewed by Macca
28 degrees of ease!
Reviewed by Dave
Quite happy with this card
Reviewed by Alison
Fairly pleased with the card
Reviewed by Clinton Koch
Still the cheapest for travel
Reviewed by Neil
Extremely high interest rates stung me
Reviewed by Ali
Interest rate is high now
Reviewed by Joanne
Very convenient card for overseas purchases
Reviewed by Priska
Great card for using overseas
Reviewed by Hugo
Good for holidays
Reviewed by Nok
Useful card and handy for overseas purchases
Reviewed by Paul
Best card on the market
Reviewed by Reg
Great card for travelling overseas
Reviewed by Alyssa
Great for online and overseas purchases
Reviewed by Dale
The card for me
Reviewed by Eric
Great for use overseas
Reviewed by Leah
Good for overseas travel
Reviewed by Davin
No international transaction fees
Reviewed by M
Best card around, perfect fit for my needs!
Reviewed by Kimberly
No international transaction fee
Reviewed by Syl
Fast, uncomplicated approval process
Reviewed by dominic schipano
Go Card
Reviewed by Debbie
Great for overseas purchases and/or travelling
Reviewed by Karen
Best card for overseas purchases
Reviewed by Michael
Good for overseas travel but no rewards
Reviewed by Sue
Useful for overseas purchases
Reviewed by Anna
It has all the benefits I need
Reviewed by mohammed i
No currency conversion fees
Reviewed by Jason
Exchange rate not what I expected
Reviewed by S
Best travel card
Reviewed by Roz
Simply the best
Reviewed by Reg
Best travel credit card out there!
Reviewed by Kyria
Great card for overseas travellers
Reviewed by Marion
Good for travel but high interest rate
Reviewed by Jay
Great card for overseas travel and security
Reviewed by Liz
Problems understanding service operators
Reviewed by Roswitha
Good choice for low-cost travel money
Reviewed by Claire
No annual fees, accepted everywhere
Reviewed by Amanda
Service staff helped me get a refund overseas
Reviewed by Sue
Excellent for foreign purchases
Reviewed by L
No yearly fee, no international transactions fees
Reviewed by M
Good for foreign purchases
Reviewed by Andrew
Quick, simple application and approval
Reviewed by Courtney
Very expensive fees
Reviewed by Paul
Great for overseas travel, annoying BPAY charge
Reviewed by Emma
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