Latitude Financial Credit Cards

Updated 30 July 2021

Latitude Financial Services, previously known as GE Money has big plans to be the best independent financial services provider in Australia and New Zealand. Whilst Latitude Financial Services may be a new name in the consumer finance market, they look after more than 2.4 million customers with sales finance, credit cards, personal loans and insurance.

By forging partnerships with some of the most iconic and successful retailers here in Australia, Latitude Financial offers some great ways to shop using their credit cards, including interest free payment plans from a range of outlets.

Having been around for more than 15 years, Latitude Financial started out as the Australian and New Zealand personal finance and motor dealer finance operations of AGC, Australian Guarantee Corporation, when it was acquired from Westpac in 2002 by GE Capital. However, if it’s not a name you’re too familiar with, that could be because Latitude Financial Services in its current form only came into being in 2015 when GE Capital sold the business to a consortium led by Deutsche Bank, Kohlberg Kravis Roberts, and Värde Partners.

Today, Latitude Financial has a number of credit cards on offer, including one that has received 5 stars as an Outstanding Value Travel Money Card from Canstar in 2018. With such a broad range, there are cards that appeal to most needs, to rewards cards and shopper cards. Rewards are earned via Latitude’s own rewards programs, which when compared to other banks’ rewards programs could offer plenty in the way of value. One feature cardholders may enjoy on Latitude’s range is interest-free shopping, which can be achieved through 0% p.a. interest payment plans.

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Never heard of Latitude Financial?

That’s okay. In the world of finance, Latitude is really pretty new. Perhaps you’ve heard of GE Capital Finance? GE Capital Finance held the reins on Harvey Norman’s interest free offers.

More on Latitude Financial Services

Now? GE Capital Finance has been rebadged and has a whole new look. Following a makeover in late 2015, GE Capital Finance became Latitude Financial Services. Lovely. But what does that have to do with you exactly?

Well, Latitude has some pretty interesting credit cards on the table. If you happen to be looking for a credit card, Latitude could have the very one for you. From rewards cards and retail cards, to travel cards and no frills cards, Latitude credit cards are well worth a look.

Retail Credit Cards

What are retail credit cards? We get it. All credit cards can be used in retail environments. That’s kind of what they’re for: buying stuff. However, retail credit cards are designed specifically to allow cardholders to make the most of retail purchases.

Let us explain. The GEM Visa Credit Card is a great example of a retail credit card. If you use the card to make a purchase over $250, you can enjoy up to six months interest free. Yep, six months. Or, for purchases under $250, you can receive up to 55 days interest free.

If you happen to use the card at any of the selected stores and healthcare providers, you could enjoy even longer interest free periods. 12, 24 or up to 60 month interest free, depending on the card’s terms and conditions.

Why should you choose these cards?

If you plan on making large purchases with your credit card, this is the way to do it. You can buy the stuff you want, and pay it off without having to worry about interest. Just make sure you pay it off before the interest free period ends though. The standard purchase rate could really make your eyes water.

Before you start using your card, check out which retailers participate in the longer interest free offers. You can find big names such as The Good Guys, Super A-Mart and Michael Hill, to name but a few.

Rewards Cards

Retail cards often stray rewards cards’ territory. These are the kinds of cards that are great for retail shopping – but they also offer a retail rewards program. Latitude has one rewards card on offer, the GO Mastercard.

When it comes to rewards cards, you need to make them work for you. Rewards cards often charge higher annual fees and higher rates of interest. In terms of annual fees, you need to make sure you get more back in rewards than you pay out in annual fees.

When it comes to interest, you need to pay off your balance before interest starts accruing. If you don’t, you may end up losing out – no matter how many rewards points you earn.

Another biggie with rewards cards is choosing a rewards program that rewards your spending – and gives you the rewards you want to use.

Go Mastercard

If you want to earn rewards points on everyday spending, the Go Mastercard could be for you. You can earn 1 Go Reward points for every dollar spent on the card, which can then be redeemed at dozens of retailers. Points never expire but they are capped at $100,000 per year.

Similar to the retail cards mentioned above, you can also enjoy extras such as interest free shopping. You can receive up to 55 days on all purchases, as well as a range of longer interest free terms at certain retailers. Again though, make sure you pay it all off before interest starts accruing. Purchase rates on these cards all sit pretty high.

As for annual fees, this card doesn’t actually have one. However, you will pay an ongoing $5.95 monthly fee. You’ll also pay a one-off establishment fee of $25.

Travel Cards

Thinking of travelling overseas? Travelling is awesome. It broadens the mind and all that good stuff. But, it can be mighty expensive. If you already have a credit or debit card, check out how the fees stack up for overseas use.

When you use a standard credit or debit card overseas, you can get hit with all sorts of fees. You may have to pay for ATM withdrawals – both with the issuing ATM provider and your card provider. You may have to pay currency conversion fees, or transaction fees.

Designed as a travel credit card, the 28 Degrees Platinum Credit Card can help cut down on all those pesky fees you pay when travelling overseas. You will pay no international transaction fees on purchases, and no currency conversion fees. On top of that, no annual fees. What a winner.

Well, yes it is actually. The 28 Degrees Platinum Credit Card won the 2015, 2016, 2017 and 2018 Canstar Award for best travel credit card.

Why should you choose these cards?

This type of card is perfect for travelling overseas and saving money on fees. If you love doing both of those things, then this could be for you. You can also enjoy some interest free leeway on your purchases. The 28 Degrees Platinum Credit Card offers up to 55 days interest free.

One thing to think about though is cash advances. This is a credit card, so if you use it to take money out of an ATM, you will pay a cash advance fee. You will also start paying interest at the card’s cash advance rate from the moment you use that ATM. Be smart. Don’t save all that money on transaction fees only to get tripped up on ATM withdrawals.

Who is Latitude?

Based in Australia and New Zealand, Latitude Financial Services offers a range of financial products and services, including credit cards, insurance and loans.

As we know, this new look organisation was once GE Capital Finance. So, despite its makeover, it’s really not ‘new’. For one thing, Latitude has 2.4 million customers. Not many start-ups can say that. And another thing, Latitude still offers many of the products GE Capital Finance offered – with many of the same retailer partnerships.

What does that mean for you? If you apply for a credit card from Latitude, you have a pretty decent range to choose from. Okay, the range doesn’t have frequent flyer or prestige cards packed with features. But, it does offer a selection of extremely usable rewards, travel and retail cards. As for interest free offers? These cards have ‘em in spades.

Introductory Offers

Unlike other credit cards, Latitude cards don’t always have those big shiny introductory offers. However, they do come up now and again. Let’s have a look at some of those offers and how they work.

No Annual Fee Offers

With these offers, you’ll pay no annual for a certain period, or for the life of the card. If you want to save money, then this type of offer is perfect. You can enjoy all the benefits the card offers, without paying out in annual fees. If you do choose a card with this type of offer, make sure you know what annual fee you’ll pay at the end of the intro period.

Purchase Rate Offers

Cards with a purchase rate offer have an introductory period where purchases attract low or no interest. These are awesome if you want to put something big on your card and pay it off with no interest.

It’s worth bearing in mind that many of Latitude’s credit cards have interest free offers as standard. Check the small print to find out the details, including payment plans and participating retailers. Just make sure you pay off your purchases within the interest free period. Those interest rates could really sting.

Balance Transfer Offers

When you transfer a balance from an existing card to a balance transfer card, you will pay low or no interest for a certain period of time. If you have existing credit card debt, this can be a great way to pay it down while avoiding interest. Any balance left unpaid when intro period ends attracts the card’s revert rate.

Rewards Offers

Rewards offers are really quite common on rewards cards. They often come in the form of bonus points on sign-up, or additional points on the standard earn rate. As with any offer, you have to read the fine print. To be eligible for the bonus points, you may have to spend a certain amount with a certain retailer within a certain timeframe.

Other Offers

Other small offers often crop up. While they may not be as big and shiny as other offers, if they work for you, that’s all that matters. Keep an eye out for offers that work with your credit card spending and make the most of them.

Recently Asked Questions

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45 questions (showing the latest 10 Q&As)

Ed

Ed

20 May 2021
How much credit do you receive on first sign up?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    20 May 2021
    Hi Ed, thanks for your question! Card providers will set a credit limit on the card you applied for. This is based on many eligibility factors including but not limited to your income, any other debts like loans and Buy Now Pay Later services and your credit history. Here’s a page of different cards and providers you can check out.
Kathleen Russell

Kathleen Russell

26 April 2021
Can I change my Infinity card to the Gem card to take advantage of the interest free periods
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    5 May 2021
    Hi Kathleen, I googled this for you to find out, but it looks like you'll need to call Latitude for an exact answer. Best of luck
Monica

Monica

22 April 2021
I'm needing to get a credit card to pay for dental treatment. $2000 deposit is required. So which credit will be suitable? With enough time to pay this off.
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    23 April 2021
    Hi Monica, take a look at cards that have a promotional offer of 0% interest on purchases for a while. Right now you can get up to 17 months interest-free. And there are a few that have 0% p.a. interest for 12 months and an ongoing $0 annual fee. As long as you can pay off the full $2,000 before the introductory period is over, you won't pay any interest and can effectively borrow the money "for free". Just make sure you're making at least the minimum repayment every month - this is usually about $30 or 3% of your total balance. I hope that helps.
Rodney OBrien

Rodney OBrien

23 February 2021
How do i close my accounts.
Sujan Timalsina

Sujan Timalsina

23 January 2021
I got the problem with credit limit.by mistakely i got applied $1800 credit and that was already approved. But my purchase order with apple worth$1969.i want to upgrade my credit limit from $1800 to $1969.and i want my credit card to send in different address.
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