Acquiring things that you need means that you will have to allocate money for it. For example, if you absolutely need cooking appliances, spending a significant amount of money is necessary.
You can do this by getting a Mastercard that fits your needs and lifestyle. Such credit cards let you make purchases payable over a period. Moreover, you can use them to make everyday purchases, as long as you make your payments on time.
The Latitude GO Mastercard is perfect for individuals in need of an "enjoy now, pay later" plan. Read on to learn more about this product and how it can help you.
Card History
The Latitude GO Mastercard® has evolved through a series of strategic acquisitions and rebrandings within Australia's financial services sector.
Here's an overview of its history:​
Origins and Evolution
- Australian Guarantee Corporation (AGC): Established in 1925, AGC was one of Australia's oldest finance companies, specializing in personal lending. ​
- Acquisition by GE Capital: In 2002, GE Capital acquired AGC from Westpac, integrating it into its GE Money brand in Australia.
- Transition to Latitude Financial Services: In 2015, a consortium including Deutsche Bank, KKR, and Värde Partners purchased GE Money's Australian and New Zealand operations, rebranding them as Latitude Financial Services. ​
Introduction of GO Mastercard
Under Latitude Financial Services, the GO Mastercard was introduced as a credit card offering flexible payment solutions, including long-term interest-free financing options at various retail partners.
Recent Developments
Latitude Financial Services has continued to enhance the GO Mastercard's features, integrating digital wallet compatibility and mobile app functionalities to align with evolving consumer preferences. ​
Through these transformations, the Latitude GO Mastercard has maintained its focus on providing consumers with flexible financing options, adapting to changes in the financial landscape and consumer needs.
GO Mastercard Features and Benefits
This credit card is known for its "enjoy now, pay later" plans when you purchase from partner merchants such as Harvey Norman, Domayne, and Joyce Mayne.
- Interest-Free Payment Plans: Enjoy long-term interest-free payment plans ranging from 6 to 60 months at numerous participating retailers, including Harvey Norman, Domayne, and Joyce Mayne. ​This card lets you purchase specific items without paying interest for 1,000 or 500 days or 6, 12, or 18 months.
- Up to 55 Days Interest-Free on General Purchases: Benefit from up to 55 days interest-free on everyday purchases, provided the full closing balance (excluding unexpired interest-free payment plans) is paid by the due date each month. ​Cardholders get 55 days interest-free on everyday purchases and 6 months interest-free on everyday purchases of $250 or more.
- 6 Months Interest-Free on Purchases Over $250: For individual purchases of $250 or more, you can access 6 months interest-free financing by selecting this option within the Latitude App within 30 days of the purchase. ​
- Latitude App Integration: Manage your account, track spending, and make repayments conveniently through the Latitude App. ​
- Digital Wallet Compatibility: The card is compatible with digital wallets, allowing for secure and convenient contactless payments via smartphones or wearable devices.
You can buy air conditioners, computers, cooking appliances, and vacuum cleaners without interest as long as you finish paying within the period.
There are also offers that apply storewide.
Application Process & Requirements
Applying for this Mastercard is easy. You just need to fill out the application form on the Latitude Go Mastercard website or give them a call.
- Online Application:
- Visit the Latitude GO Mastercard® application page.​
- Complete the online application form, which takes approximately 10 minutes.​
- Receive a response within 60 seconds of submission. ​
- Card Activation:
- Upon approval, your card will be mailed to you.​
- Activate the card as per the provided instructions to begin using it.
Applicants must be at least 18 years old and a permanent Australian resident to be eligible. Temporary residents with visas valid for the next 12 months are also welcome to apply.
You must provide proof of ID, such as your driver's license, Medicare card, or passport. Proof of income will also be required, which can include items such as payslips, employer’s name, and contact details.
The minimum credit limit is $1,000, but keep in mind that you will receive a limit that suits your creditworthiness.
Rates & Charges
- Annual Fee/Establishment Fee – $0
- Interest Rate on Purchases – 25.9% per year
- Interest Rate on Cash Advances – 25.9% per year
- Cash Advance Fee - 3% or $3, whichever is greater
- Monthly account service fee - $8.95
- Late Payment – $3
- International transaction fee -Â 3%
- International cash advance fee -Â $4, in addition to cash advance fee
- International cash over the counter fee -Â $5, in addition to cash advance fee
Bank Contact Info
If you are interested in applying or have some questions, you can get in touch with the Latitude GO Mastercard team by calling 1300 462 273.
You can also send mail to their Customer Solutions department at GPO Box 1300, Melbourne VIC 3001.
Considerations
Despite its many benefits, it is important to take into account its disadvantages too.
- High Interest Rate (27.99% p.a.): If you miss payments or don’t clear balances, interest charges can add up fast.
- Monthly Account Fee ($10.95): This fee applies regardless of how much you use the card, adding a fixed ongoing cost.
- Foreign Transaction Fees Apply: This is not ideal for overseas purchases or travel due to additional fees.
- Temptation to Overspend: Long interest-free periods may encourage users to spend more than they can repay.
- Strict Eligibility Requirements: Approval may require a stable income, good credit, and full documentation.
Also read: CUA Low Rate Credit Card – Learn How to Order Online
Mobile App
Latitude Financial Services offers the Latitude App, a mobile application designed to help you manage your Latitude GO Mastercard® and other Latitude accounts.
Available on the App Store and Google Play.
-
Account Management: View your account balance, transaction history, and payment due dates.
-
Card Activation and PIN Management: Activate new cards and set or change your card PIN directly within the app.
-
Digital Wallet Integration: Add your card to Apple Wallet or Google Pay for contactless payments.
-
Card Control: Temporarily lock your card if misplaced, or report it lost, stolen, or damaged.
-
Direct Debit Setup: Set up, manage, and cancel direct debit payments (Australia only).​
-
Personal Details Update: Update your address and contact information.
Conclusion
By getting a GO Mastercard, you can make necessary purchases from partner merchants without worrying about interest.
While it offers attractive interest-free financing options, it's important to be mindful of the relatively high standard purchase interest rate and the monthly account fee.
Ensure that you can meet repayment obligations, especially after interest-free periods, to avoid incurring significant interest charges.
As with any financial product, it's advisable to review the terms and conditions thoroughly to determine if the card aligns with your financial needs and spending habits.
Note: Consider the risks involved in using credit products before applying by consulting the issuing institution’s terms and conditions.
