28 Degrees Platinum Mastercard

Card features
foreign exchange fee
overseas ATM balance fee
overseas ATM withdrawal fee
No international transaction fees on purchases.
No currency conversion fees.
$0 p.a. annual fee.
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Pros & cons

What's good?

What's not so good?

Save money on transactions made while overseas.
Great for shopping online from overseas stores.
$0 p.a. annual fee.
Up to 9 additional cardholders.
$0 to replace a card lost while abroad.
Complimentary worldwide concierge service 24 hours a day to help organise your holidays, book restaurants, tours and more.
No introductory balance transfer offer.
The interest rates on purchases and cash advances are up at the high end of the market.

Our review

Our review of the 28 Degrees Platinum MastercardReviewed by Yvonne Taylor

At last, a credit card that understands the way we live now, as global citizens on the move around the world, either in person or online. The 28 Degrees Mastercard is set to become the card of choice for travellers, online shoppers, and anyone with an international outlook. It has the big five this kind of card user is looking for:

  • No international transaction fees on purchases
  • No foreign currency conversion fees
  • No overseas ATM withdrawal fee
  • No overseas ATM account balance enquiry fee
  • No fee to replace a card lost or stolen while overseas

And if you’re looking for an important extra ‘no’, it’s there: no annual fee.

Let’s take a detailed look at what some of this really means.

Some cards charge foreign currency transaction/conversion fees of 3.5%

When you make a purchase in a foreign currency, whether while travelling or online, you are already at the mercy of a fluctuating exchange rate. It might seem that you are getting a bargain, but often you won’t really know how much it’s going to cost you in Australian dollars until the transaction hits your account.

Then, with most credit cards, there are the added fees that the bank charges for foreign currency transactions and conversion into Australian dollars, a combination of the bank’s own processing fee and a charge payable to Visa, AmEx or Mastercard. This combined charge is typically 3%, or more, of the purchase amount, and it can be as high as 3.5%.

So your bargain New York hotel room at USD125 per night may already be costing you AUD180, depending on what the exchange rate is doing. Add 3.5% to that amount, and you’re looking at USD186.30 before you’ve even had breakfast. Nasty.

If you make regular online purchases from overseas suppliers – and let’s face it, we do seem to pay very high prices for some consumer goods in Australia – then this card will be a godsend. EBay traders who source their stock internationally will be particularly happy with the ability to reduce their costs.

Use a 28 Degrees Mastercard and avoid that 3.5% fee altogether.

Some cards charge a fee for cash withdrawals from an overseas ATMs

When you’re on home soil you probably make a habit of using your own bank or card issuer’s ATM, in order to avoid the transaction fees that come with using another bank’s machine. Trouble is, once you’re overseas you won’t find any of your own bank’s ATMs. So, if you need to withdraw cash from your credit card account you may be stung for an overseas ATM withdrawal fee, normally at least $4. This is in addition to any cash advance fee payable (which for the 28 Degrees Mastercard is 3%, rather higher than the 2% fee many banks charge).

But if you use a 28 Degrees Mastercard, there will be no overseas ATM withdrawal fee.

But beware—an overseas ATM withdrawal is a cash advance

There’s no getting away from the fact that an overseas ATM withdrawal from your credit card is a cash advance, just like it is in Australia. It may be fast, convenient, open all hours and free of any requirement to speak a foreign language, but it’s still a cash advance. You’ll start paying interest on it immediately at the cash advance rate (21.99% p.a. for this card), and if you don’t do anything about it until your return to Australia, you’ll have racked up some hefty interest costs to take the shine off your trip. It’s best to find another way to access cash overseas, like a prepaid travel money card.


Tip: You can use your 28 Degrees Mastercard to withdraw cash overseas and pay little or no interest. After you make the withdrawal, use your mobile phone or other internet-connected device to access your credit card account online. Once you see the cash advance amount in AUD in your account (this may take a day or two), simply transfer into your credit card account the equivalent amount from your Australian bank savings or transaction account. Provided you have no overdue balance on your credit card account, the cash transfer will be applied to your cash advance immediately and the interest charge will be a few cents at most.

Some cards charge an exorbitant fee for overseas emergency card replacement

Losing your credit card overseas, or having it stolen, is bad enough. Is someone using your card fraudulently? How will you check out of your hotel, with no means of payment? But if you have to add to that the pain of the $100 charged by some card issuers for an overseas emergency replacement card, you may begin to feel that you’ve been done over twice.

28 Degree Mastercard users can avoid that extra sting and get on with enjoying their trip, because overseas emergency card replacement is free.

Notify your card issuer if you are going overseas

While on the subject of emergency card replacement, it’s reassuring to know that this card is protected by a Falcon Fraud Management System and a skilled Fraud Solutions Team who contact cardholders by phone or SMS immediately they notice any suspect transactions.

This is a comforting level of security, but some users of the card have reported problems with using the card overseas, finding their card unexpectedly blocked. So the card issuer’s recommendation that users advise them before embarking on an overseas trip is probably better interpreted as a mandatory requirement.

Mastercard SecureCode, a system of security questions or a one-time password delivered by SMS, also helps to protect you from fraudulent online shopping transactions.

$0 p.a. annual fee

Since you won’t be charged any annual fee for this card, it’s possible to keep it on standby for overseas trips or online shopping, even if you have another card that you prefer to use when dealing with Australian retailers. You can also have up to nine supplementary cards on the account, which makes it perfect for a small business with trusted employees who need to travel or purchase internationally.

More benefits for the traveller

To underline the fact that this is a card designed for international travellers, there are more built-in advantages for people on the move:

  • Visa Platinum global 24/7 concierge service: Wherever you are in the world, if you need advice or reservations for travel, restaurants, entertainment or tours, the Visa concierge service is there to help, just a phone call, mouse click or screen tap away.
  • Optional international travel insurance: (Note that this is not complimentary insurance cover. You will have to pay.) GE Money, the card issuer, has made it easy for cardholders to get a quote for competitive overseas travel insurance. An annual multi-trip worldwide travel policy, for example, will cost $837 for a couple, $429 single.

(There’s also a range of ‘Shopper’s Protection’ insurance available, providing purchase protection, merchandise protection, stolen card protection, and account repayments in case of unemployment, illness, disability or death, for a charge of 0.5% of each month’s closing balance, up to a maximum payment of $50 per month).

No rewards points, no introductory offers, no low interest rates

While there are none of the usual overseas transaction fees, and no annual fee, some of the perks commonly associated with credit cards are also missing.

Although you’ll get Up to 55 days on purchases each month (provided you have no overdue balance on your account), there are no introductory zero interest periods on either purchases or balance transfers.

There are no rewards points or free insurance policies. The ongoing purchase and cash advance interest rates (both 21.99% p.a.) are at the high end of the market. If you are looking for low interest rates, this is not the card for you.

User profile for the 28 Degrees Mastercard

It’s pretty clear, then, that this card is ideal for someone who either travels overseas regularly or shops online frequently with suppliers whose charges are made in a foreign currency. This same hypothetical user is not concerned about the high purchase and cash advance interest rates, planning to always pay the account balance in full by the due date in order to benefit from Up to 55 days on purchases and never pay interest charges. Since there is no annual fee, it’s a no-brainer for this person to keep it in their wallet for when they are in overseas mode.

Q&As about the 28 Degrees Platinum Mastercard

Q: What is the foreign transaction fee?

The foreign transaction fee is a fee that some banks apply to each individual purchase made where the purchase is made overseas, i.e. outside Australia. The fee itself is typically worked out as a percentage of the purchase. It is usually around 2-3%. The 28 Degrees Platinum Mastercard does not charge international transaction fees or currency conversion fees on purchases.

Q: How much money can I save on international transaction fees and currency conversion fees?

Almost all credit cards in Australia charge a foreign exchange fee of 2-3% plus a currency conversion fee. On a $100 purchases that’s a $3 saving. So, a credit card like the 28 Degrees Platinum Mastercard really comes into it own if you’re travelling overseas or doing a lot shopping from overseas online stores and want to put your spending on a credit card.

Q: Does the 28 Degrees Platinum Mastercard come with free travel insurance?

No, travel insurance is an optional extra and is not complimentary for cardholders.

Q: Can I do a balance transfer to the 28 Degrees Platinum Mastercard?

No, this card does not allow new cardholders to transfer their balance from another card(s).

Q: Can I use my 28 Degrees Platinum MasterCard for international online shopping?

Yes, for example, if you are shopping at a US online store from Australia, you will not be charged a foreign exchange fee or currency conversion fee.

Q: Is the foreign transaction fee the same thing as the foreign exchange fee?

No. These are two separate fees. Not all banks charge both.

  • The foreign transaction fee is levied on transactions that originate overseas.
  • The foreign exchange fee applies to transactions that are billed in a foreign currency, e.g. GBP, USD, EUR, etc.

Check what you would be charged for either because it is possible that a no foreign transaction fee card may still charge a foreign currency exchange fee.

Even if a no foreign transaction fee card did charge a foreign exchange fee, it would still be cheaper than a card that levied fees on both.

User reviews

3.7 out of 5.0 based on 60 reviews90% of reviewers would recommend this card

Rates and fees
Customer service

Reviews from users

The card for me

Reviewed and recommended by Eric on 02 Jul 2016

I love my card as it does everything that I want it to do and then some. I have used it everywhere and I have had no problems with it. It has been widely accepted anywhere I have tried to use it. I have this card as it meets my needs at the moment.

Best travel credit card out there!

Reviewed and recommended by Kyria on 22 Sep 2016

After doing some research, I chose this card as the best option for use overseas while travelling, as (unlike most other cards) it has NO currency conversion fees.

The downside is that you can’t earn any frequent flyer/reward points, but I believe the advantages outweigh the disadvantages. Also, there’s no annual fee!

Great for overseas travel, annoying BPAY charge

Reviewed and recommended by Emma on 03 May 2017

This is one of the best cards for overseas travel. There are no ATM fees, and I’ve never had any issues using it in Europe, Asia or America.

It’s unfortunate about the newly-introduced BPAY charge ($0.95 per transaction). I can use the 'Pay my account’ function, but it takes longer for the money to clear and can only be done every five days.

No international transaction fee

Reviewed and recommended by Syl on 06 Jul 2016

Love this card as it does not have extra charges for overseas transactions, which is great as there are no surprises when you get home. It’s easy to use and accepted anywhere. I’ve had no issues at all and would recommend it as a great travel partner. It has become my only card when travelling overseas and at home.

Best travel card

Reviewed and recommended by Roz on 20 Sep 2016

This card has no account-keeping fees, foreign currency conversion or transaction fees. The only extra charge is for withdrawing cash at an ATM, which is minimal — about AUD 4.00 — but the benefits far outweigh this charge and it is accepted all over the world. I would not travel without it. I use it when I travel to Japan to see my son and have used this card in Europe, the Middle East and USA. It’s an essential travel card.

Great for online and overseas purchases

Reviewed and recommended by Dale on 02 Jul 2016

You might be surprised to find when you make a purchase online from what appears to be an Australian site that your transaction takes place offshore. As a result, most credit cards will charge you a foreign transaction fee, even though you believed you were dealing with an Australian business. Not so with the 28 Degrees MasterCard. This card has no foreign transaction fees, so you can confidently shop online knowing you won’t be charged these fees. For the same reason, it’s also a great card to take on holidays with you. This is actually the original reason I got the card. It was really helpful on my USA trip!

Still the cheapest for travel

Reviewed and recommended by Neil on 09 Jun 2016

If you’re planning an overseas holiday with your family, the 28 degrees MasterCard will save you a small fortune compared to the big banks’ credit cards—actually even compared to every credit card available to the Aussie consumer. It is a front runner for value for money and ease of use.

Very convenient card for overseas purchases

Reviewed and recommended by Priska on 01 Jul 2016

I’m so glad to have this card. We travel to Asia quite a lot and this card gave us a great rate and didn’t charge much for the overseas transactions. There’s no annual fee to have the card. It’s very easy to manage and their customer service staff are friendly and helpful when I rang to increase or decrease my credit limit.

Overall, it’s a fantastic card to have.

Problems understanding service operators

Reviewed and recommended by Roswitha on 10 Oct 2016

It’s a great card, but quite often have a problem understanding the dreadful English some of their operators speak. Sometimes there is an issue and they usually deal with it fairly well.

The card is quite convenient because everyone accepts it and if you use it wisely and pay full balance each month you can actually end up saving heaps of money.

Good for overseas travel but no rewards

Reviewed and recommended by Sue on 10 Aug 2016

Great card to use for overseas travel as there are no international card fees. However, there are no rewards available. Also, cash advances from ATMs cost money.

Much easier than using cash, accepted by most hotels and restaurants around the world.
Customer service has been good so far, with regular statements available online. Direct debit is also available from your bank account.

There are savings to be had if you are travelling across multiple countries and cannot be bothered changing multiple cash currencies.

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Disclaimer: The opinions expressed about credit cards are the reviewer's alone, and do not reflect the views of Credit Card Compare or the credit card issuer. Reviews have not been approved or otherwise endorsed by Credit Card Compare.

The basics

About this card

Card setup
Card tier
Card type
Card use
Credit rating
Gambling transactions allowed
Joint application
Minimum age
18 years old
Minimum income
Minimum income for pensioners
Rewards program
Temporary residents


Additional cardholders
Additional card fee
$0 p.a.

Credit limits

Minimum credit limit
Maximum credit limit


Interest charged from
Purchase Date
Interest free period
Up to 55 days on purchases
Minimum repayment

Rates & fees

Ongoing interest rates

Cash advances 1.83% 21.99% p.a.
Purchases 1.83% 21.99% p.a.


Annual fee
$0 p.a.
Cash advance fee
Dishonour fee
Duplicate statement fee
Foreign exchange fee
Late payment fee
Over limit fee
Overseas ATM balance fee
Overseas ATM withdrawal fee
Overseas emergency card replacement fee
Transaction verification fee

Minimum criteria for this card

What you need before applying

Be over 18 years old
You are a resident or citizen of Australia
Have a good credit history
You have your personal details ready to complete the online application
Have not applied for multiple credit cards recently
Joint applications are not allowed
Temporary residents are not eligible
Disclaimer: The minimum criteria pointers are intended only to be a guide. Your application may still be rejected by the bank even if you can answer 'Yes' to all the minimum criteria. The final decision regarding your application is up to the bank.

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