Latitude 28 Degree Card Review — Low Rate Credit Card Options

If you’re looking for a straightforward, low-interest credit card in New Zealand, the Latitude 28 Degree Card is worth a close look. It’s marketed as a no-frills, low-rate option — ideal for people who want to avoid high interest charges and complex reward programmes. But is it the right card for you? Let’s break down the pros, cons, fees, and who it suits best.

This is general information only and does not constitute financial advice. Always do your own research before making financial decisions.

What is the Latitude 28 Degree Card?

The Latitude 28 Degree Card is a low-rate credit card issued by Latitude Financial Services in New Zealand. It’s designed for customers who want a simple card with a competitive ongoing interest rate, no annual fee (in some variants), and no foreign transaction fees. It’s particularly popular among travellers and people who carry a balance month-to-month.

There are two main variants: the 28 Degree Platinum Mastercard and the 28 Degree Global Mastercard. Both share similar low-rate features, but differ slightly in perks and fees.

Key Features

  • Low ongoing interest rate — Typically well below the average credit card rate in NZ (check the current rate with Latitude).
  • No annual fee on the standard 28 Degree Platinum Mastercard.
  • No foreign transaction fees — Great for overseas spending or online purchases from international merchants.
  • Interest-free period — Up to 55 days on purchases if you pay your balance in full each month.
  • Complimentary travel insurance on the 28 Degree Global Mastercard (conditions apply).
  • No rewards programme — Keeps the card simple and the interest rate low.

Pros and Cons

Pros Cons
Low ongoing interest rate (check current rate with provider) No rewards or cashback
No annual fee on Platinum variant No interest-free period on cash advances
No foreign transaction fees Travel insurance only on Global variant (and conditions apply)
Interest-free period up to 55 days Higher interest rate than some balance transfer cards (introductory offers)
Simple, transparent fee structure Not ideal for those who want rewards or perks

Fees and Charges

Here’s a summary of typical fees for the Latitude 28 Degree Card. Always check the latest fees with Latitude as they can change.

Fee Type Amount (indicative)
Annual fee (Platinum) $0
Annual fee (Global) Check with provider (typically low)
Interest rate (purchases) Low rate — check current rate with Latitude
Interest rate (cash advances) Higher than purchase rate — check with provider
Foreign transaction fee 0%
Late payment fee Check with provider
Cash advance fee Check with provider (usually a flat fee or percentage)

Target Audience

The Latitude 28 Degree Card is best suited for:

  • People who carry a balance — If you don’t pay off your card in full each month, the low ongoing interest rate can save you a lot compared to standard cards.
  • Frequent travellers — The no foreign transaction fee feature is a standout, especially for online shopping or overseas purchases.
  • Budget-conscious users — No annual fee and no rewards mean you’re not paying for perks you don’t use.
  • People who want simplicity — No complex reward points, tiers, or conditions to track.

Not ideal for: Reward seekers, those who want travel insurance as standard, or people who pay off their balance in full every month and want cashback or points.

How It Compares to Other Low-Rate Cards

Here’s a quick comparison with other popular low-rate credit cards in New Zealand. Note that rates and fees change — always check with the provider.

Card Annual Fee Interest Rate (purchases) Foreign Transaction Fee Rewards
Latitude 28 Degree Platinum $0 Low (check with provider) 0% None
ANZ Low Rate Visa $0 (first year) then $40 Low (check with provider) ~2.5% None
ASB Low Rate Visa $0 (first year) then $40 Low (check with provider) ~2.5% None
Westpac Low Rate Mastercard $0 (first year) then $40 Low (check with provider) ~2.5% None

Key differences: The Latitude 28 Degree Card stands out for its $0 annual fee (Platinum) and 0% foreign transaction fee — features not commonly found on other low-rate cards. However, it lacks the introductory balance transfer offers that some banks provide.

Verdict

The Latitude 28 Degree Card is a strong contender in the low-rate credit card space in New Zealand. It’s simple, affordable, and particularly valuable for people who travel or shop internationally. The lack of an annual fee and foreign transaction fees makes it one of the cheapest cards to hold and use overseas.

However, if you’re after rewards, travel insurance as standard, or a balance transfer offer, you’ll want to look elsewhere. For those prioritising low costs and no-fuss banking, it’s an excellent choice.

Who should apply? If you carry a balance, travel frequently, or want a card with no annual fee and low interest, the Latitude 28 Degree Card is a top pick. Just make sure you compare the current interest rate and terms with other low-rate cards to confirm it’s the best fit for your situation.