If you have a Latitude Gem Visa, you might want to read this…
On 21 July 2021 we are making changes to the Annual Fee, Account Service Fee, and Interest Rate.
- Say goodbye to the $99 Annual Fee – from 21 July 2021 we will no longer have an Annual Fee on Latitude Gem Visa.
- A monthly account service fee of $8.95 will be introduced, however, we will only charge it when your account has a balance of $10 or more.
- The interest rate for everyday purchases will drop from 24.99% p.a. to 19.95% p.a. An everyday purchase is for things like your morning coffee, monthly Netflix charge or cheeky Friday afternoon drink! It also includes any balance left owing on an expired 6-month Interest Free purchase over $250.
- Cash advance rate and expired interest Free purchase rate will remain at 24.99% p.a. This means cash from an ATM or any expired Interest Free payment plans made through a retailer.
Hang on – You’ve paid your annual fee?
Don’t worry. We’re going to refund it back to you.
If you have been charged your Annual Fee or will be charged before 21 July 2021, we are organising a pro-rata refund back on to your account. You won’t need to do anything.
In the next few weeks, you’ll get an email from us explaining the refund in more detail so hang tight until then…and for those of you who love to read the legal stuff, here is the Notice of Variation for the changes.