Gem Visa Credit Card – Review & Application

Information verified correct on September 29th, 2016

Apply for the Gem Visa credit card to take advantage of 0% interest payment plans at scores of merchants across Australia.

If you’re looking for a credit card that supports your spending, you might want to consider the Gem Visa Credit Card. This card offers innovative payment plans and long-term interest-free terms on purchases over $250, helping you save on interest when you spend on your card. Take a look at the features of the card below and see if it’s right for you.

Product NameGem Visa Credit Card
Purchase rate (p.a.)0% p.a. for 6 months (reverts to 24.99% p.a.)
Annual fee$99 p.a.
Interest Free Period
The interest-free period on purchases is the period or number of days you do not have to pay interest on your card purchases. You will be charged interest either from the day you make a purchase or from the statement date, unless you pay the closing balance in full by the due date (or within the interest-free period) on your statement.
Up to 55 days on purchases
Cash advance rate (p.a.)22.99% p.a.
Min credit limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$1,000
Minimum Monthly Repayment3%
Minimum Income$15,000
Card TypeVisa
Late Payment Fee$20
Foreign Currency Conversion Fee (VISA)3% of transaction value
Complimentary Travel InsuranceNo
Available To Temporary ResidentsNo
Joint ApplicationNo
Minimum Income$15,000
Minimum Age18 years of age
Available to Temporary ResidentsNo
Credit Rating Requirement
Credit rating requirement is provided only as a guide. Understanding your credit file helps you make more informed decisions in regards to your finances. Learn more about what this means here.
Good
Min Credit Limit
This is the lowest credit card limit that you can request. It is possible to apply for a higher credit card limit but not a lower one than this figure.
$1,000
Annual Fee$99 p.a.
Minimum Repayment3%
Late Payment Fee$20
Over Limit Fee$5
Cash Advance Fee3% of the cash advance or $3, whichever is greater, capped at $30
Foreign Currency Conversion Fee (VISA)3% of transaction value
Gambling Transactions AllowedNo
BPAYYes
ChequeYes
Direct DebitYes
Australia PostYes
Phone BankingYes
Internet Banking TransfersYes
MailYes

Pros

  • The GEM Visa Credit Card offers 0% p.a. on your card, no questions asked
  • For purchases under $250, you have 55 days interest free to pay back the amount owing provided you have been paying your card off in full when the statement arrives
  • If you choose to shop within the thousands of GEM partner stores, you may be eligible for an extended interest free period of up to one or two years *Conditions apply

Cons

  • You can't earn rewards on the purchases you make with this card.

Gem Visa Credit Card review

If you’re looking to make purchases on credit and without the burden of interest, you could benefit from the Gem Visa credit card. Keep costs to a minimum with the 0% payment plans available with thousands of retailers and service providers nationwide. Plus, if you spend over $250 with any retailer, you can look forward to 0% p.a. for 6 months. Spend with convenience using Visa PayWave and manage your account on-the-go with your online account.

Benefits of using the Gem Visa credit card

The benefits of using this Latitude credit card primarily revolve around interest-free shopping, and here’s what you can expect as a cardholder.

  • Interest-free payment plans. One option requires that you make minimum monthly payments, and you are free to make additional payments at any time. Another option is where you don’t have to make any payments during the promotional period, and you pay one lump sum payment before the promotional period expires. The third option is where you make equal monthly payments during the course of the promotional period.
  • 0% p.a. on purchases for 6 months. When you use this card outside the partner network to make a purchase of more than $250, you don’t have to pay any interest for 6 months.
  • Shopper’s protection insurance. You can get optional shopper’s protection insurance by paying one percent of your monthly closing balance, not to exceed $50. This insurance provides cover in the form of price protection, merchandise protection, balance protection, life cover, and stolen card cover.

Features of the Gem Visa Credit Card

  • Annual fee. This Latitude credit card attracts an ongoing annual fee of $99, which you have to keep paying for the life of the card.
  • Interest rate. This card charges a standard interest rate of 22.99% p.a. This rate applies on all interest bearing balances, which include outstanding balances from payment plan purchases when promotional periods end.
  • Access to funds. You can use this card at any EFTPOS terminal or ATM that displays the Visa logo, in Australia and overseas. You can also use this Visa credit card to make purchases and pay bills, online and over the phone.
  • Access to account information. The Gem Visa online platform gives you the ability to view your statements and keep track of transactional details. You can also use this platform to bills via BPAY.
  • Making repayments. You can choose to set up direct debits so you don’t have to worry about making timely repayments, and you can also make repayments via BPAY.
  • Visa payWave. If you see the Visa payWave symbol at any merchant, you can use this card to make contactless payments of less than $100.
  • Card security. This card comes with a microchip that offers enhanced protection against fraud when compared to cards that use magnetic strips. The GE Fraud Team notifies you if it detects any suspicious activity. Verified by Visa provides added protection in the online world. A money back guarantee ensures you don’t have to take liability for any fraudulent transactions made using your card, provided you act responsibly.
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How to apply for the Gem Visa Credit Card

You can apply for the Gem Visa card online. Just fill up the secured online application form, but only after ensuring that you meet the following eligibility criteria.

  • You are over 18 years of age
  • You are a permanent Australian resident
  • You have good credit history

You’ll have to provide different kinds of information to complete the application, so prepare to part with the following.

  • Details of your Australian driver’s license, passport, or proof of age card
  • Your employer’s name, phone number, and address, along with your duration of employment
  • Details of your income from all sources
  • Details of everyday expenses
  • Details of assets like property, vehicles, savings, and investments
  • Details of liabilities like credit cards, loans, and overdrafts

The Gem Visa card can work in your favour if you manage to pay off your purchases before their promotional periods come to an end, failing which you’ll have to start paying reasonably high interest. Don’t forget that this is not the only card of its kind, so it is in your best interest to compare a few before applying.

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Frequently asked questions

Where do I need to shop to get these interest-free benefits?

Anywhere Visa is accepted. For longer interest-free terms, shop at any of Gem’s 9,000 retail and healthcare partners Australia-wide.

Do I have to purchase something specific to get 6 months interest-free?

No. Any purchase that is over the amount of $250 will qualify.

How do I know when my individual interest-free periods are over?

Every month you will be sent a statement which will outlines all your purchases and show you any unexpired interest-free periods. Your statements will also show ending dates so you can easily track what is due and when. You can also track your interest-free periods via your online account.

Is there anywhere I won't be entitled to use my card and get 6 months interest-free?

You can use your Gem Visa anywhere in the world that accepts Visa, and as long as your purchase is over $250 you will be entitled to your 6-month interest-free period.

What is the minimum credit limit of this card?

The minimum credit limit of the Gem Visa credit card is $1,000.

Can I request for an increase in my card’s credit limit?

Yes, and you can do so over the phone or by submitting an online application. If Latitude Financial Services approves your application, the increase comes into effect immediately.

How can I keep track of all my 0% interest purchases?

The statement you receive each month carries details of all these purchases, which include their expiry dates.

Where can I find out about merchants where I can avail of interest free payment plans?

You can find a complete list of partner merchants by visiting the Gem Visa website.

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55 Responses to Gem Visa Credit Card – Review & Application

  1. Default Gravatar
    lynette | July 20, 2016

    What is a payment handling fee (online)

    • Staff
      May | July 21, 2016

      Hi Lynette,

      Thanks for your inquiry.

      The payment handling fee for Gem Visa Credit Card is $2.50 (in person) or $0.95 (online). You can actually avoid these fees by making your payments via mail, direct debit or via the Online Service Centre.

      Hope this has answered your question.

      Cheers,
      May

  2. Default Gravatar
    Ricki-lee | July 20, 2016

    I have been told I can’t reapply for GEM because I closed my account 3 years ago and I now need to wait 7 years before being able to get a new account. Is there a way to get around that?

    • Staff
      Anndy | July 20, 2016

      Hi Ricki-lee,

      Thanks for your question.

      Please note that finder.com.au is a financial comparison and information service and not a credit card issuer.

      I would like to know if this information directly comes from a Gem representative. If yes, it would be best if you directly inquire from them what other options you may have in connection to your desire to apply for a credit card with them.

      Cheers,
      Anndy

  3. Default Gravatar
    Janelle | July 14, 2016

    With the 6months interest free, if the store that say I’m about to purchase from has 24 months interest free and I used the gem visa to purchase something and needed 20 or so months to pay it off do I only get the 6 months interest free from the gem visa before I start paying interest . Or do I get the added 24 months from the store as well ? Because i would have used the gem visa to pay so really I would be paying gem visa back? Would really like to no thanks kindly

    • Staff
      May | July 15, 2016

      Si Janelle,

      Thanks for your question.

      The promotion on purchases offered by the merchant/store is different from the “0% interest on purchases for 6 months” offered by Gem Visa Credit Card. This means that Gem Visa Credit Card will give you 6 months to enjoy using their card on any purchases but you won’t get charged interest for that period. After 6 months or the promo period ends, any purchases you make on the card (whether under the interest-free promotion of the store/merchant) will incur an interest of 24.99% p.a.

      So, even if the merchant has 0% interest offer for 24 months when you buy their product, that offer is only exclusive to their store’s promotion and does not have any connection or will be linked to the “promotion” offered by Gem Visa.

      Hope this has answered your question.

      Cheers,
      May

  4. Default Gravatar
    Kay | July 5, 2016

    Hi there,
    Can a GEMVISA card be linked to an afterpay account?

    • Staff
      May | July 6, 2016

      Hi Kay,

      Thanks for your question.

      Yes, as Gem Visa Credit Card can be used to make purchases and pay bills, online and over the phone, then you can also use it at Afterpay. Just be mindful that a foreign currency conversion fee of 3% of transaction value applies when making a purchase in other currency.

      Cheers,
      May

  5. Default Gravatar
    Glenn | July 4, 2016

    Do i need to contact anyone if using my card overseas

    • Staff
      Chester | July 12, 2016

      Hello Glenn!

      You wont be needing to call them when heading overseas. As long as the VISA or MASTERCARD logo is shown on the merchants store you may freely use it.

      Hope this helps.

      Cheers!
      Chester

  6. Default Gravatar
    Natalie | June 29, 2016

    Buying a Dell Computer from Dell Australia over $250 will I get 6 months interest free on GEM Visa?

    • Staff
      Chester | July 15, 2016

      Hi Natalie,

      Yes you will not be charged any interest 6 months from the day you purchased the computer though a purchase fee would still apply. You may also refer to this page to have a better understanding of how you may maximize your Gem Visa Credit Card.

      Hope this has answered your question.

      Cheers,
      Chester

  7. Default Gravatar
    Graeme | June 10, 2016

    I wish to cancel. I did not want this card at all.

    • Staff
      Ysa | June 10, 2016

      Hi Graeme,

      Thanks for reaching out.

      If you have decided to cancel your credit card account, make sure that there is no outstanding balance that remains on the account. Once you have cleared off your balance, you can visit any Gem Visa branch or call them at 1300 630 977 and let them know your intent to cancel.

      For more information about this process, please refer to our guide on how to close and cancel your credit card account.

      I hope this helps.

      Cheers,
      Ysa

  8. Default Gravatar
    Emma | May 28, 2016

    Where can I make repayments on my gem Visa card

    • Staff
      Ysa | May 30, 2016

      Hi Emma,

      Thanks for your question.

      You can make repayments through BPAY, direct debit, Online Service Centre and Australia Post.
      For more information on how to manage your GEM Visa account, please refer to the link I’ve forwarded to your email.

      I hope this helps.

      Cheers,
      Ysa

  9. Default Gravatar
    Lisa | May 25, 2016

    Which atm accept a gem Visa card

    • Staff
      Anndy | May 25, 2016

      Hi Lisa,

      Thanks for your question.

      The GEM Visa Credit Card can be used at any EFTPOS terminal or ATM that displays the Visa logo, in Australia and overseas.

      Cheers,
      Anndy

  10. Default Gravatar
    Barbara | May 11, 2016

    Hi I just wanted to check how my application was progressing application number 2416132110352

    • Staff
      Ysa | May 11, 2016

      Hi Barbara,

      Thanks for your question.

      Please note that you have come through finder.com.au, an online comparison service, and is not directly affiliated with Gem Visa.

      Should you wish to track your application, you’ll need to speak directly with a member of the Gem Visa customer service team at 1300 630 977.

      For further information, you might also like to check our guide on how to check credit card application status .

      I hope this helps.

      Cheers,
      Ysa

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