Wise card vs 28 Degrees: A Full Comparison on Features and Fees 2024
The Wise card and the 28 Degrees Global Platinum Mastercard both offer easy ways to spend and make cash withdrawals at home and abroad, with no foreign transaction fee to pay for overseas use. However, the features and fees you’ll find with Wise and 28 Degrees are quite different. The Wise card is a debit card, linked to a multi-currency digital account you can use to hold and exchange 40+ currencies, while the 28 Degrees card is a credit card that’s been optimised for global use.
This guide walks through the key details you need to know about both the Wise card and the 28 Degrees Global Platinum Mastercard so you can see if either suits your specific needs.
Key points:
- Wise offers an international debit card which is linked to a multi-currency digital account you can use to hold and exchange 40+ currencies
- 28 Degrees offers a credit card which doesn’t have the option to hold a balance, but which can be used for global spending
- Neither provider has an annual fee, and neither charges foreign transaction fees
- Wise offers more flexible international features, including ways to get paid by others in foreign currencies
- 28 Degrees credit cards can be used to spread the costs of spending over several months
The Wise card vs the 28 Degrees Global Platinum Mastercard card in Australia: Side by side
This guide looks in detail at the similarities and differences between the Wise international debit card and 28 Degrees’ international credit card – the Global Platinum Mastercard. First, let’s get an overview of some of the key features side by side as a comparison:
| Feature | Wise | 28 Degrees |
|---|---|---|
| Card type | International debit card | International credit card |
| Network | Either Mastercard or Visa | Mastercard |
| Service availability | Available in most countries globally | Available for permanent residents of Australia |
| Annual/monthly fees | None | None |
| Multi-currency account |
|
No balance holding facility |
| Foreign transaction fee | No foreign transaction fee | No foreign transaction fee |
| Exchange rate | Mid-market rate | Mastercard rate |
| ATM use | Some free ATM withdrawals monthly before fees begin | 3.5% or 4 AUD fee, whichever is greater |
To summarise:
- The Wise Card is a debit card issued on either Visa or Mastercard – the 28 Degrees Global Platinum Mastercard is a credit card
- The Wise Card is available in most countries globally – the 28 Degrees Global Platinum Mastercard is available for permanent residents of Australia only
- There’s no annual or monthly fee to pay for either Wise or 28 Degrees
- There’s no foreign transaction fee with either Wise or 28 Degrees
- Wise offers multi-currency accounts for personal and business customers – 28 Degrees offers a credit card which does not have any linked balance account
- Wise uses the mid-market exchange rate to convert foreign currency payments back to AUD – 28 Degrees uses the Mastercard network
- Wise allows customers to make some free ATM withdrawals monthly – 28 Degrees has a cash advance fee of 3.5% for all withdrawals
Pros and cons
| Wise | 28 Degrees |
|---|---|
| ✅Debit cards linked to multi-currency accounts to hold 40+ currencies ✅ Spend in 150+ countries, wherever you see the network logo ✅ Get some free ATM withdrawals monthly ✅No ongoing fees ✅ Mid-market exchange rates |
✅Credit card for international use
✅No foreign transaction fee to pay when abroad ✅No annual fee ✅Complimentary flight delay pass and global roaming ✅Network exchange rates |
| ❌One time card order fee applies ❌Currency conversion costs from 0.43% |
❌Interest applies if you don’t pay your bill every month
❌Credit checks required |
Wise card vs 28 Degrees card: The verdict
Whether the Wise debit card or the 28 Degrees Mastercard credit card is right for you will depend on exactly what you’re looking for in a card. Wise cards are debit cards, which means you need to add money to your digital account in advance in order to spend. With a 28 Degrees credit card you can spend monthly to your credit limit, and then need to pay back your bill promptly to avoid extra fees.
Generally, debit cards can be cheaper to use, while credit cards come with more fees but allow you to spread the costs of spending over a few months if you want to. Neither card has an annual fee, and neither uses foreign transaction fees – but Wise offers some free ATM withdrawals, while credit cards have fees for cash withdrawals.
This guide looks in more detail at how both the Wise debit card and the 28 Degrees Mastercard credit card work, so you can decide if either suits you.
How do they work?
You can order a Wise card online or in the Wise app – and with 28 Degrees you’ll also need to apply for your card digitally. Once your account is set up, your card will be sent to you by mail.
Because Wise offers a debit card, there’s no credit check to complete, and no restrictive eligibility requirements. You’ll just need to upload your ID and address documents for verification and pay the one time card order fee. 28 Degrees may need to run a credit check before issuing you a card, but there’s no card order fee to worry about once your account is approved.
Wise card limits
With Wise you can spend up to 52,500 AUD monthly, and make ATM withdrawals up to 7,000 AUD. You’ll be able to adjust your limits in the Wise app if you’d rather have a lower daily or monthly limit on your card spend.
28 Degrees card limits
28 Degrees cards have a minimum credit limit of 1,000 AUD. You might find your specific credit limit is set higher than this, depending on your credit score and situation.
What type of cards are they?
The Wise card is a debit card issued on either the Visa or Mastercard network. The 28 Degrees Global Platinum Card is a credit card issued on the Mastercard network.
Are Wise and 28 Degrees cards available in Australia?
Yes. The Wise Card is available in Australia, and in most countries globally. The 28 Degrees Global Platinum Mastercard is available for permanent residents of Australia only.
Wise card vs 28 Degrees card: Fees
As the Wise card and the 28 Degrees credit card have quite different features, the way that fees work is different too. With Wise you need to top up your account in advance of spending and can then spend any currency you hold for free. The 28 Degrees card is a credit card, which means fees may vary depending on how you use your card and how quickly you repay. Here’s a quick summary of the costs with each:
| Service | Wise fee | 28 Degrees fee |
|---|---|---|
| Ongoing fees | No fee to open a Wise personal account, no ongoing fees | No ongoing fee |
| Card order fee | 10 AUD | No card order fee |
| Spend in AUD | No fee to spend a currency you hold | No card fees as long as you pay off your bill on time |
| Spend in foreign currencies | No fee to spend a currency you hold
Currency conversion from 0.43% |
No foreign transaction fee |
| ATM fee | 2 withdrawals to the value of 350 AUD/month free, then 1.5 AUD + 1.75% | 3.5% or 4 AUD, whichever is greater + interest |
| Interest | Not applicable | 27.49% variable |
| Penalty fee (late payments) | Not applicable | 45 AUD |
Fees correct at time of writing – 5th March 2024
Which card is cheaper?
You’ll pay a one time card order fee for a Wise card – however, the card is then very cheap to use, with no fee to spend a currency you hold in your account, some free monthly ATM withdrawals and low cost currency conversion from 0.43% when required.
The 28 Degrees card is a little different. As a credit card, there’s no fee to get the card in the first place, but fees can mount up depending on how you then use it. If you make cash withdrawals there’s a fairly steep cash advance fee to pay, and interest applies if you don’t repay your bill in full and on time.
Generally, the Wise card can be cheaper to use because there’s no risk of running into interest charges or penalties.
Are Wise and 28 Degrees cards safe to use?
Yes. Both Wise and 28 Degrees are reputable and trusted providers, which are safe to use. As the card and account options with each of these providers are quite different, they’re licensed in slightly different ways – but they both comply with all required local and global legislation, and have strong digital security measures in place for customers.
Ease of use
Creating an account: Both Wise and 28 Degrees allow online applications. Wise has a verification process in place, while 28 Degrees will require documents for verification and may also need to run a credit check
Ordering a card: Order your card online or in the provider’s app, and it’ll be delivered to you by mail
Where can be used: Use your Wise card wherever the network logo is shown, in 150+ countries globally. The 28 Degrees card is issued on the Mastercard network and is also globally accepted
Replacement: Cancel your card online or in the provider’s app, and have a replacement sent to you in the mail
Visa or Mastercard: The 28 Degrees card is a Mastercard, while the Wise card can be issued on either the Mastercard or Visa network
Limits: With Wise you can spend up to 52,500 AUD monthly, and make ATM withdrawals up to 7,000 AUD. 28 Degrees cards are issued with a credit limit which is set according to individual credit score, starting from 1,000 AUD
Can I use the Wise and 28 Degrees cards abroad?
Yes. You’ll be able to use your Wise card wherever the network logo is shown, in 150+ countries globally. The 28 Degrees card is issued on the Mastercard network and is also globally accepted.
Supported currencies on Wise and 28 Degrees cards
Both Wise and 28 Degrees cards can be used globally, to spend in pretty much any available currency. With Wise you have the option of adding money in AUD and then converting to the currency you need in your account in advance, which allows you to see exactly how much you have to spend. With 28 Degrees your spend is converted back to AUD automatically for billing purposes.
Alternative cards
If you’re looking for an alternative to Wise and 28 Degrees you’ve got plenty of options.
If you’re thinking of a debit card you might want to consider Revolut, which has several different account plans to suit different customer needs, all of which come with linked payment cards. Revolut has multi-currency balance options, and all accounts come with some no fee currency conversion every month, too.
Alternative credit cards are available from all major Australian banks – watch out for foreign transaction fees which may apply and which can push up costs by about 3% in some cases.
Conclusion
Both Wise and 28 Degrees offer payment cards which are optimised for international use. However, the card features are quite different, with Wise offering a debit card with multi-currency account, and 28 Degrees having a Mastercard credit card. Neither card has any annual or monthly fee, and neither uses foreign transaction fees. However, with 28 Degrees you might find you have to pay interest if you don’t pay back your bill on time and in full, as well as cash advance fees for ATM use.
Generally the Wise debit card will work out to be cheaper to use – but you won’t be able to spread the costs of your purchases out over a few months as you can with a credit card. Which is best for you will depend entirely on how you prefer to spend, and the features that really matter to you.
FAQ – Wise vs 28 Degrees cards
What is the difference between Wise and 28 Degrees cards?
The Wise card is a debit card with a multi-currency account, while the 28 Degrees Global Platinum card is a Mastercard credit card. Both cards are optimised for international use, but the way they work is quite different. With Wise you need to add money in advance of spending, while 28 Degrees offers a credit facility so you can spend and then repay later.
Is Wise a Visa debit card?
The Wise card is a debit card issued on either the Visa or Mastercard network. Both networks are globally accepted.
What type of card is a 28 Degrees card?
The 28 Degrees Global Platinum Card is a credit card issued on the Mastercard network.
