Latitude Low Rate Mastercard

Save with a low purchase interest rate and low annual fee with the Latitude Low Rate Mastercard.

The Latitude Low Rate Mastercard is designed to suit cardholders who want to cut their card costs with a competitive purchase interest rate. Plus, if you pay your balance in full by the statement due date, you can take advantage of up to 55 interest-free days on purchases. Cardholders can shop with peace of mind thanks to price protection, purchase protection and extended warranty covers.

Product NameLatitude Low Rate Mastercard
Purchase rate (p.a.)11.99% p.a.
Annual fee$69 p.a.
Interest Free Period
The interest-free period is the maximum number of days during which interest is not charged on new purchases. This only applies if you pay your closing balance in full by the statement due date.
Up to 55 days on purchases
Cash advance rate (p.a.)20.99% p.a.
Card TypeMastercard
Foreign Currency Conversion Fee (MC)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Complimentary Travel InsuranceNo
Minimum Age18 years of age
Available To Temporary ResidentsNo
Annual fee$69 p.a.
Late Payment Fee$30
Foreign Currency Conversion Fee (MC)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
3% of transaction value
Overseas Cash Advance Fee$1.95 or 3% of the cash advance or cash equivalent transaction, whichever is greater
Overseas ATM Withdrawal Fee$4
Additional Cardholder Fee$0

Pros

  • Save with a 11.99% p.a. on purchases and balance transfers.
  • This card charges a low $69 annual fee.
  • Receive up to 55 days interest-free on purchases when you pay your balance in full by the statement due date.

Cons

  • This is a basic card that offers none of the perks like travel insurance or a rewards program.

Benefits of the Latitude Low Rate Mastercard

  • Purchase interest rate. This card has a competitive 11.99% p.a. standard purchase interest rate. This same interest rate is also applied to balance transfers.
  • Price protection. When you use your card to make an eligible purchase and the price drops within 30 days, Latitude will refund the difference.
  • Purchase protection. You can shop with peace of mind thanks to purchase protection. If an eligible purchase is accidentally damaged or stolen within 90 days, Latitude will help repair or replace it.
  • Extended warranty. You'll receive an additional one-year warranty on eligible purchases that have an existing one- to two-year manufacturer's warranty.
  • Interest-free days. If you pay your balance in full by the statement due date, you can take advantage of up to 55 interest-free days on purchases.

Rates and fees of the Latitude Low Rate Mastercard

  • Annual fee. This card charges a $69 p.a. annual fee.
  • Cash advance interest rate. If you use this card to make a cash advance (such as an ATM withdrawal), you'll be charged 20.99% p.a. interest.
  • Additional cardholder. You can request additional cardholders for $0.
  • International transaction fee. You'll be charged 3% of the Australian dollar value if you use your card to make foreign transactions online or overseas.

How to apply for the Latitude Low Rate Mastercard

If you've compared your options and decided the Latitude Low Rate Mastercard is right for you, you can apply for the card online. Just make sure you meet the following eligibility requirements and prepare the necessary documents before you apply:

Eligibility criteria

  • You must be at least 18 years old.
  • Only permanent Australian residents can apply.

Required information and documents

  • Identification. You'll be asked to provide a copy of your driver's licence, passport or proof of age card.
  • Finances. You'll need to provide details of your income, assets and debts.
  • Employment. Be prepared to list employer's name and contact number.

The Latitude Low Rate Mastercard boasts features for cardholders who want to take advantage of complimentary protection cover while avoiding high interest rates. As this isn't the only low interest rate credit card on the market, make sure to compare your options before you apply.

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Credit Cards Comparison

Rates last updated January 17th, 2019
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
Citi Clear Platinum Credit Card
12.99% p.a.
0% p.a. for 14 months
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Offers a 0% p.a. for 14 months balance transfer and $0 first year annual fee. Plus, insurance covers and Citibank Dining Program perks.
Suncorp Clear Options Platinum Credit Card - Online Offer
20.74% p.a.
0% p.a. for 18 months
$49 p.a. annual fee for the first year ($129 p.a. thereafter)
Save with a 0% balance transfer offer and earn up to 60,000 Bonus Reward Points. Plus, a discounted first year annual fee when you apply online.
ANZ Low Rate
12.49% p.a.
0% p.a. for 15 months
$58 p.a.
Save with a 0% p.a. introductory rate on balance transfers for 15 months with no BT fee. Plus a low 12.49% p.a. interest rate on purchases.
NAB Qantas Rewards Signature Card
19.99% p.a.
0% p.a. for 6 months with 2% balance transfer fee
$295 p.a. annual fee for the first year ($395 p.a. thereafter)
Collect 90,000 bonus Qantas Points when you spend $4,000 within 60 days of account opening. Plus, a $295 annual fee in the first year.

Compare up to 4 providers

* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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