Reminder: Shopper’s Protection on Grandfather 28°/Latitude Credit Cards

frugalftw on 17/09/2023 - 07:12

I was just reminded that I still have the shoppers protection on my old cc by the 1% charge on my balance this month. (Only used it for the PureVPN cashback deal, although not sure if it’ll be honoured at this stage.) I’ve since gone back and read the pds again here, realised how good it is lol

A few things worth noting:
* It applies to partial purchases too, which means it covers the popular trade-in deals going on for new phones.
* If you paid off the balance before the statement is out, there’s no charge.
* It covers for 12 months. If you timed your purchase right, this would be great for companies that releases their next gen products annually as old stock would go on sale.
* Lost, stolen or damaged merchandise is also fully covered.
* There’s no mentioning of excess anywhere.

What I don’t know is if you can make multiple claims, or how difficult it is to make a claim since I’d never done it. Anyone has stories to share?

Financial

Comments

  • Jimothy Wongingtons on 17/09/2023 - 07:35
    +2

    What I don’t know is if you can make multiple claims, or how difficult it is to make a claim since I’d never done it. Anyone has stories to share?

    Yes you can claim further price drops

    And it takes about 2 min to submit a form

    • frugalftw on 17/09/2023 - 07:53

      Naoice 😍 thanks for that.

  • stirlo on 17/09/2023 - 07:44
    +2

    I'll also chime in that the Coles Credit Cards also offered similar insurance polices (now grandfathered) with the key difference being they offered 2 years price protection from the same retailer while 28 degrees offers 1 year with any retailer.

    For those of us that hold both you can strategically choose where you make your purchases to ensure that you can claim the most (particularly for products that are sold for a long time).

    • frugalftw on 17/09/2023 - 07:56

      Two years is a very long time 😅 No wonder they cut it.

      • Morien on 17/09/2023 - 13:08
        +1

        It is!

        But there are other differences.

        28 Deg has a limit of $1000 per item, and $5000 max for the policy in 12 months.
        Coles has a limit of $600 per item, and $2000 max in 12 months.

        They both also have lifetime limits, but they are pretty high.

  • CyberMurning on 17/09/2023 - 08:26

    I have grandfathered 28 degree now latitude, where can i check that i have this protection feature?

    • markis10 on 17/09/2023 - 08:39

      Under insurance in the online service centre

  • CyberMurning on 17/09/2023 - 08:42
    +1

    It applies to partial purchases too, which means it covers the popular trade-in deals going on for new phones.

    More detail info on this please? Never done it but interested on the zfold 5 trade in deal

    • Jimothy Wongingtons on 17/09/2023 - 08:52

      As far as I would know should work like a normal transaction - They ask you how much was spent on the card (which you may need to verify by way of invoice)

      Price difference to new lower price is paid out proportionally

      • CyberMurning on 17/09/2023 - 09:01

        but we spend very low amount initially (on the invoice) due to the trade in bonus and the trade in phone, how they will calculate/refund the differences?

        • Jimothy Wongingtons on 17/09/2023 - 09:13
          +1

          Idk how much it is but let’s say it’s 2k total invoice before any trade transaction
          Trade in 500
          Trade in bonus 500
          (Again idk what it is it’s just an example)

          You pay out of pocket 1000.

          Phone drops to $1800 at a retailer ($200 diff)
          As you only paid 50% out of pocket they should only be paying you $100 out

          I’ve never actually done part pay though - rather claim full benefit

        • frugalftw on 17/09/2023 - 12:32

          It comes down to a few things:

          • How much do you get from gift card discounts?
          • How much are you betting on the price reduction in 12 months?

          Say you preorder an iPhone 15 for $1497 today.

          If you have the exact gc at 10% off to cover it, you save $1497x.1 = $149.7 today.

          If you put it on the card and it drops $200 in 12 months, you claim back $200 in 12 months.

          Assuming you have access to 5.5% interest compounding monthly (ING), $149.7 turns into $157.42 at the end of 11 months.

          And you have to collect gift card deals along the way to accumulate that much, dealing with cashback stuff and you aren’t guaranteed the exact amount most of the time. And your money is tied up in gift cards.

          Better off putting it on the card. For the trade-in credit, if you can, put it towards something less likely to drop in price, like services maybe, instead of products that depreciate fast.

  • Stopback on 17/09/2023 - 09:21
    +2

    I still rue the day I canceled it as it charged me 1 percent of balance

    • frugalftw on 17/09/2023 - 12:18
      +1

      I remembered now I used to pay off the balance straightaway to avoid the charge. That’s why after all these years my account was still $70 in credit 😂

  • capslock janitor on 17/09/2023 - 12:39

    ye i got stung ~$8 this statement

    • John Kimble on 19/09/2023 - 07:35
      +1

      You can ask for a refund and they will probably give it to you 😂

      • capslock janitor on 19/09/2023 - 09:45
        +1

        I normally do when they used to have live chat pop up in OSC ages ago🤣

        Now they made it harder to get to Web chat?

      • capslock janitor on 06/10/2023 - 16:57

        smdh really

        Kanchan
        's avatar
        I am afraid we do not have access to do that you need to contact the Insurance team on 1800 800 230 M – F: 08.30AM – 05.00PM AEST

        worse than before!

        might be time to set directdebit

  • Go Cat on 26/12/2023 - 14:28

    Can you make a claim from ebay or Amazon stores? And say if you use PayPal or afterpay that is connected to your 28° card? Thanks!

    • 76F on 26/12/2023 - 14:52

      Yep, I have claimed in all those scenarios before.

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