Latitude Financial Services Credit Cards

20 March 2019

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 2.5 million customers with sales finance, credit cards, personal loans and consumer credit insurance.

As a consumer financial services provider based in Australia and New Zealand, Latitude Financial provides loans, insurance and credit cards to more than 2.4 million customers. 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, from low rate and low fee options designed to help cardholders save money, 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.

Latitude Low Rate Mastercard

Latitude Low Rate Mastercard

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GEM Visa Credit Card

GEM Visa Credit Card

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28 Degrees Platinum Mastercard

28 Degrees Platinum Mastercard

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5 reviews
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points earned over 12 months
1 point
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Latitude Infinity Rewards
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-1% Complete (success)
Latitude Infinity Rewards
$69
p.a.
16.77% Complete (success)
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$120,000 saved over 12 months
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9 reviews
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points earned over 12 months
1 point
16.77% Complete (success)
GO Rewards
N/A
-1% Complete (success)
GO Rewards
$0
p.a.
16.77% Complete (success)
Your points
$120,000 saved over 12 months
Calculate your savings icon

Never heard of Latitude Financial Services?

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 9,000 selected stores and healthcare providers, you could enjoy even longer interest free periods. One, two and three years interest free, depending on the card’s terms and conditions.

To make this deal even sweeter, the card also offers extras such as GEM Visa Fraud Security Protection, and Shoppers’ Protection insurance, which can protect against price dropping, theft, loss and damage.

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 two reward cards on offer, Latitude Infinity Rewards Credit Card and 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 Canstar Award for best travel credit card. Want some extras? You got it. This card offers a 24/7 Platinum Concierge service and Fraud Protection Cover.

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.

No Frills Cards

Want a credit card? Not interested in the bells and whistles? A no frills credit card could be for you. These cards are designed to do one thing: provide credit. No rewards, no features, no offers. The Latitude MasterCard is one such example of this type of card.

One of the main benefits of no frills cards is that they’re super easy to understand. You won’t get tripped up with tricky introductory offers. You don’t have to worry about complicated rewards programs. You don’t have to think about features you’re paying for but not using.

With the Latitude Mastercard, your purchase rate and your cash advance rate are the same. High, but the same. You can enjoy up to 55 days interest free on purchases though. As long as you pay off the balance within that interest free period, the card offers a great way to access credit.

And annual fees? Well, the annual fee on this one is quite high, especially when you take into account the lack of features. But, it is still affordable. Plus, you get all the benefits of Mastercard. That provides you with certain levels of protection, and usability at more than half a million locations in Australia and 28 million worldwide.

Why should you choose these cards?

If you want an easy-to-use, easy-to-understand credit card, a no frills card is an excellent option. You know exactly what you’re getting, with nothing to trip you up. It gives you access to credit, so you can make purchases and then pay them off.

While they don’t have any fancy frills or features, they do offer the basics. This can include security features, accessibility and interest free periods.

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 2.5 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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3 questions (showing the latest 10 Q&As)

Carlie

Carlie

13 September 2018
What is a currency conversion fee? Is it different to foreign purchase fee?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    14 September 2018
    Hi Carlie, they all wrap in together. Bottom line you will be charged 3% of the transaction amount on any foreign purchases. If you are looking to do regular purchases in a foreign currency then I suggest you get a card that has no fees in this area like the ANZ Rewards Travel Adventure. This card is a great friend for travelers.
Jan

Jan

18 October 2017
I have just received a latitude infinity Visa card ,previously I had a Myer Black Card ,my question is ,is this card for Myer purchases only or can it be used anywhere like a normal Visa Card or is it only a rewards card
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    19 October 2017
    Hi Jan, the latitude infinity Visa credit card be be used anywhere that Visa is accepted. The interest rate is high at over 20%, therefore you need to ensure you pay off your balance in full each month to avoid high interest.
rupert bilston

rupert bilston

27 April 2017
iwant to know if a card is blocked and then cancelled and cut up and not used how does it still create accounts and the money owing goes from 2300 to 5ooo and I have not used it and latitude keep trying to make me pay this is fraud in my book rupert
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    27 April 2017
    Hi Rupert, you need to sort this out directly with Latitude. Bottom line is you should never have to pay for any transactions that you have not made yourself. Best of luck with getting it cleared up.
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