Gem Visa Credit Card – Review & Application

Information verified correct on February 23rd, 2017

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)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
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)
Foreign currency conversion fees are charged when you make a transaction that is converted by a credit card network, such as MasterCard, Visa or American Express, from Australian dollars to a foreign currency. You’ll also incur a currency conversion fee if you make a purchase or obtain a cash advance in Australian dollars while overseas or shopping online with a foreign merchant or financial institution.
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, 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:

  • Copies 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
  • Information about your everyday expenses
  • Details of assets like property, vehicles, savings, and investments
  • List of your liabilities including 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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71 Responses to Gem Visa Credit Card – Review & Application

  1. Default Gravatar
    Todd | January 23, 2017

    Hi 2 questions here- I was Just wondering about gem visa card say if i got bills up to 300 or more but already have money owing on 3 different things already but i need to pay these bills would i get the 6 months interest if i pay them at post office up to or ova 250 worth .? And if i was to pay minimum monthly re payments or more will that pay off all 3 seperate items owings b4 the interest free months r up for all of different owings on the card . If making sure i pay the minimum monthly that gems statement is saying to pay will it work out paid by the time needed.?

    • Staff
      May | January 24, 2017

      Hi Todd,

      Thank you for your inquiry.

      If you have spent over $250 on your Gem Visa Credit Card, on your monthly statement, you’ll be able to clearly identify your ‘Gem Visa 0% interest for 6 months purchases’ and your ‘Other 0% interest purchases’. All your transactions and interest-free purchases will be clearly explained on your monthly statements. Furthermore, to automatically receive 0% interest for 6 months on any Visa purchase over $250, all you need to do is pay using your Gem Visa credit card.

      Meanwhile, with your Gem Visa, you have three repayment plans to pay off your balance under the 0% interest scheme:

      1. Minimum Monthly + Flexible Payments - You need to make a minimum payment each month. But but you have the flexibility to make extra payments at any time. Plans start from 6 months.

      2. One Lump Payment – You don’t need to make any payments during the promotional period. However, you can make payments at any time. Plans start from 3 months.

      3. Equal Monthly Payments – You can make equal monthly payments during the course of the promotional period.

      Hope this has answered your questions.

      Cheers,
      May

  2. Default Gravatar
    Alice | January 13, 2017

    Can I do a balance transfer on Gem Visa Credit card accounts?

    • Staff
      Jason | January 14, 2017

      Hi Alice,

      Thank you for your enquiry.

      The Gem Visa Credit Card does not have a balance transfer feature. You may check out this link for options of different balance transfer credit cards.

      I hope this helps.

      Kind regards,
      Jason

  3. Default Gravatar
    Dee | January 10, 2017

    For interest-free purchases how is the $99 application fee charged and when is it payable?

    • Staff
      May | January 10, 2017

      Hi Dee,

      Thanks for your question.

      Just to confirm, with Gem Visa Credit Card, the $99 is for the annual fee. Generally, credit card issuers charge the annual fee during the first statement period following your account activation. The annual fee will then be charged on or around the anniversary of the date the first annual fee was charged every year thereafter.

      Cheers,
      May

  4. Default Gravatar
    Fabiano | December 23, 2016

    Hello

    Can I transfer my balance to my bank account? I mean my Commonwealth account? and If not Where can I withdrawal the money ($ 4700)

    tks

    • Staff
      May | December 23, 2016

      Hi Fabiano,

      Thanks for your question.

      Unfortunately, it’s not possible to transfer funds to your CBA bank account. So if you want to access funds from your Gem Visa credit card, you can use any ATM that displays the Visa logo in Australia and overseas. Please note though that when you withdraw or do a cash advance (CA), you will be charged 22.99% p.a. and whilst overseas, the CA fee will be 3% of the cash advance or $3, whichever is greater, capped at $30 as well as foreign currency conversion fee of 3% of transaction value.

      Cheers,
      May

  5. Default Gravatar
    Renee | December 4, 2016

    Can I transfer the balance of my Gem Visa to another credit card?

    • Staff
      Anndy | December 4, 2016

      Hi Renee,

      Thanks for your question.

      Yes, you may move your Gem Visa credit card balance to a new card with a different issuer.

      You may refer to this link to know where you can transfer your balance to, subject to eligibility criteria.

      Cheers,
      Anndy

  6. Default Gravatar
    luke | November 7, 2016

    How much would i pay back if i withdrew $500 cash from my Gem Visa card and pay back $100 a month?
    Thanks

    • Staff
      May | November 8, 2016

      Hi Luke,

      Thank you for your inquiry.

      With Gem Visa Credit Card, for cash advances, you will be charged 3% of the cash advance or $3, whichever is greater, capped at $30 and cash advance interest of 22.99% p.a. So for $500 cash advance, that 3% of $500 plus 22.99% p.a. interest.

      As for the repayment, the handling fee would either be $2.50 (in person) or $0.95 (online).

      Cheers,
      May

  7. Default Gravatar
    Allie | October 30, 2016

    I withdrew $350 from my gem Visa card , how much interest do I have to pay back on that amount ?

    • Staff
      Anndy | October 30, 2016

      Hi Allie,

      Thanks for your question.

      For Gem Visa Credit Card, you’ll be charged 22.99% p.a. for withdrawing cash from your card. The amount of interest you will have to pay depends on how long you intend to repay your cash advance.

      Cheers,
      Anndy

  8. Default Gravatar
    Colin | October 8, 2016

    Can I do a balance transfer to my gem visa? Can I take advantage of interest free for the balance transfer?

    • Staff
      May | October 11, 2016

      Hi Colin,

      Thanks for your inquiry.

      Unfortunately, the balance transfer is not among the features of the Gem Visa Credit Card, so the 0% interest on balance transfers for a promo period does not apply. However, on this page, you can compare your other balance transfer credit card options.

      Hope this helps.

      Cheers,
      May

  9. 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

  10. 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

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