Latitude Low Rate Mastercard
- 11.99% p.a. interest rate on purchases
Eligibility criteria, terms and conditions, fees and charges apply
Save with a competitive 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 Name | Latitude 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 Type | Mastercard |
| 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 Insurance | No |
| Minimum Age | 18 years of age |
|---|---|
| Available To Temporary Residents | No |
| 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.
- 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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is there any loan/credit card I can apply for given I’m a full time student on scholarship and my other form of employment is recently commenced self employed contracting?
Hi Tom,
Thanks for reaching out to Finder. On this page, you’ll find a list of providers that accept applications without income. Just go to the part of the page that says “What discounts and eligibility criteria apply to student personal loans?” and review the eligibility of each provider carefully. Before lodging an application, read up on the terms and conditions and product disclosure statement and contact the bank should you need any clarifications about the policy.
Hope this was helpful. Don’t hesitate to message us back if you have more questions.
Best,
Nikki