This guide takes a look at the Latitude Infinity Rewards Visa, a card that offers rewards points to cardholders for their everyday spend, which can be redeemed for a variety of physical rewards, rather than frequent flyer points.
Who is this card suited for?
The Latitude Infinity Rewards Visa is offered by Latitiude Financial, who also offer the 28 Degrees Platinum Mastercard.
Being a rewards-only card, it is best suited to those who are looking to redeem reward points for products, experiences or gift cards rather than flights. Those looking for flights are best served by using a dedicated frequent flyer credit card.
Digging into the details of the Latitude Infinity Rewards Visa
|Card||Latitude Infinity Rewards Visa|
|Loyalty Program||Infinity Rewards|
|Points earn||1 point per $1 spent on eligible purchases|
|International transaction fee||3%|
Earning and redeeming points
The card offers 1 rewards point for every dollar you spend, with no cap on the number of points that you can earn.
Rewards points can then be redeemed for a variety of rewards, which is actually quite extensive. Categories of awards include home, experiences and gift cards, with traditional items such as toasters, kettles and Apple devices all making an appearance, along with more creative rewards such as Horse-riding parties, a sailing & sunset cruise on the Gold Coast, and a six-lap dash in a rally car in Perth.
The benchmark though to assess the value of the points earned are gift cards, which are available for a range of common merchants.
Things to consider
The card states that you get $20 of value for every 2,000 points earned, which would place the value of each point at 1c. This would represent an exceptional value of a non-frequent flyer rewards card, with similar cards generally offering no more than 0.5c per point.
To determine whether 1c per point in value could be earned, we looked at a number of rewards to see the value offered. These are shown in the table below:
|Product||Recommended Retail Price||Number of Points Required||Value (c/point)|
|Weber Baby Q Cover (Q100/1000 Series)||54.95||4,500||1.22|
|Sunbeam Classic Frypan (FP5910)||59||8,500||0.69|
|Sony Full HD Flash Handycam (HDR-CX405)||359||38,500||0.93|
|$50 JB Hi-Fi Gift Card||50||5,000||1.00|
Recommended Retail Prices based on online searches on 15 August 2018 from major retailers. The number of points required does not factor any promotional sales.
The above table shows that many of the products may fall below the 1c per point value that is claimed which is possible when redeeming for gift cards.
Also to consider—many items that can be bought online are sometimes discounted. A good example is Weber Baby Q Cover (Q100/1000 Series), which was actually on sale for $39.95 at an online store I was reviewing, meaning that the value per point during the time this sale price was decreased to 0.887c per point.
And this is the problem with many non-frequent flyer rewards cards. While it is true that flights, like products or experiences, can also be discounted, it is generally the case that even after a discount, the value per point of a flight redemption is greater than 1c/point, especially for long-haul flights in premium cabins. A notable exception to this can be in short-haul Economy Class flights.
However, if you do not fly very often or are simply not looking to earn frequent flyer points, then a rewards card like this will represent good value for you when you redeem the points earned for rewards with most value.
To be eligible for the Latitude Infinity Rewards Visa, you must:
- Be over 18 years of age
- Be an Australian citizen or permanent resident
There is no specific minimum income requirement.
This card represents good value for those looking for a rewards-based credit card that focuses on products and appliances over flight redemptions. With the ability to earn between 0.5c to 1.2c per point, this card eclipses many of its competitors in terms of value, most of which offer no more than 0.5c per point. Also, no points cap is imposed by this card, which is an additional strong feature.
The range of rewards is expansive and definitely does inspire some creativity over and above traditional rewards such as gift cards. Most cardholders are likely to welcome this choice.
Overall, if you are looking for a low- or no-fee card with flexibility in how you can redeem your points—excluding travel and flights—it is well worth considering this card as an alternative to other offerings on the market.