Gem Visa Credit Card – Review & Application

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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.)24.99% 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
Card TypeVisa
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
Minimum Income$15,000
Minimum Age18 years of age
Available To Temporary ResidentsNo
Joint ApplicationNo
Annual fee$99 p.a.
Minimum Monthly Repayment3% or $25 whichever is greater
Late Payment Fee$20
Cash Advance Fee3% of the cash advance or $3, whichever is greater, capped at $30
Overseas Cash Advance Fee3%
Foreign Currency Conversion Fee
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

Pros

  • An introductory rate of 0% p.a. for 6 months on purchases over $250.
  • 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 by the statement due date.
  • 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.

Cons

  • The 24.99% p.a. purchase rate is extremely high.
  • You can't earn rewards on the purchases you make with this card.

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 24.99% 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.
  • Eligible for Samsung Pay. Enjoy the convenience of making contactless payments when you shop just by tapping your qualifying Samsung device on a contactless terminal.

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.

Frequently asked questions

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77 Responses

  1. Default Gravatar
    jasonMay 18, 2018

    I’m looking to make a purchase – perhaps around $2,000 – with 50 months Interest-Free Equal Monthly Installments through The Good Guys on GEM Visa.

    I just want to know what the circumstances would be if I make another purchase on the card, for example 6 months interest-free purchase $300, in regards to paying off the larger purchase.

    From what I understand, any payments made will first be allocated to pay the Equal Monthly Repayments purchase $2000 and would effect the subsequent $300 unless the entire Equal Monthly Repayment purchase is completely paid off.

    Is this the case or am I misunderstanding GEM Visa terms and conditions?

    • finder Customer Care
      JeniMay 18, 2018Staff

      Hi Jason,

      Thank you for getting in touch with finder.

      As a friendly reminder, while we do not represent any company we feature on our pages, we can offer you general advice.

      As per gem’s FAQs, they make it really easy for credit card users to keep track of their 0% interest purchases. Each month you’ll receive a statement outlining your unexpired 0% interest purchases and the expiry date to help you easily manage your repayments to avoid paying interest. In your gem app there is the Payment to Reduce Future Interest section. The Payment to Reduce Future Interest amount will help you understand how much you need to pay that month to reduce the amount of interest you’re charged in the future, or in some cases, avoid interest altogether.

      You may discuss the payment allocation with their customer solution team by calling 1300 630 977 within Australia or +61 1300 630 977 from overseas. They are open from Monday to Friday from 8:30am to 7pm and Saturday from 9am to 5pm.

      I hope this helps.

      Have a great day!

      Cheers,
      Jeni

  2. Default Gravatar
    shahriarOctober 3, 2017

    Hi, I was wondering if I pay $8000 by my gem visa credit cart to ATO by BPay, is it counting as a cash advance? If, yes how much they charge me?

    • finder Customer Care
      RenchOctober 3, 2017Staff

      Hi Shaun,

      Thanks for your inquiry. Please note that we are not affiliated with Gem Visa or any company we feature on our site and so we can only offer you general advice.

      No, it doesn’t count as cash advance by making payments using BPAY. A payment handling fee of 95 cents applies to each BPAY payment made to your account. Payments are processed during business hours, so make sure you complete your transaction before your bank’s cut-off time or the due date.

      Please note also 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.

      I suggest contacting Gem directly to confirm this info or visit their official site.

      Cheers,
      Rench

  3. Default Gravatar
    PFischMay 6, 2017

    I am wanting to apply for the GEM visa card- one question. If I pay fees and balance before the end of the 6month interest free period, can I then close my account with GEM?
    I’ve read a couple of reviews online saying that it’s a bit of a hassle.
    I don’t want to be locked in with this card after the 6 month term.

    • finder Customer Care
      LouMay 7, 2017Staff

      Hi PFisch,

      Thanks for your question.

      Yes, you may close your account at any time, after paying your balances and fees. You may want to read our guide here on how to properly close a credit card.

      Kindly note that GEM Visa Credit Card attracts an annual fee of $99. You will still pay this amount even if you cancel your card in less than a year. Annual fee is normally charged at the first billing date after card approval.

      Cheers,
      Anndy

  4. Default Gravatar
    ToddJanuary 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.?

    • finder Customer Care
      MayJanuary 24, 2017Staff

      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

  5. Default Gravatar
    AliceJanuary 13, 2017

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

    • finder Customer Care
      JasonJanuary 14, 2017Staff

      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

  6. Default Gravatar
    DeeJanuary 10, 2017

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

    • finder Customer Care
      MayJanuary 10, 2017Staff

      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

  7. Default Gravatar
    FabianoDecember 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

    • finder Customer Care
      MayDecember 23, 2016Staff

      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

  8. Default Gravatar
    ReneeDecember 4, 2016

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

    • finder Customer Care
      LouDecember 4, 2016Staff

      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

  9. Default Gravatar
    lukeNovember 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

    • finder Customer Care
      MayNovember 8, 2016Staff

      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

  10. Default Gravatar
    AllieOctober 30, 2016

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

    • finder Customer Care
      LouOctober 30, 2016Staff

      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

Credit Cards Comparison

Rates last updated July 15th, 2018
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
Westpac Low Rate Card
13.49% p.a.
0% p.a. for 24 months with 1% balance transfer fee
$0 p.a. annual fee for the first year ($59 p.a. thereafter)
Offers a 0% for 24 month balance transfer option, first year annual fee waiver and a competitive purchase rate.
NAB Low Fee Platinum Card - Exclusive Amazon Offer
19.74% p.a.
0% p.a. for 24 months with 2% balance transfer fee
$90 p.a.
finder Exclusive: Take advantage of 10% cashback with amazon.com.au for 12 months (capped at $25 per month).
American Express Westpac Altitude Platinum Bundle - Exclusive Offer
20.24% p.a.
$0 p.a. annual fee for the first year ($199 p.a. thereafter)
$0 first year annual fee & up to 90,000 bonus Altitude Pts when you meet T&C with this Visa (issued by Westpac) & Amex (issued & serviced by Amex).
Suncorp Clear Options Platinum Credit Card - Exclusive Offer
20.74% p.a.
0% p.a. for 18 months
$99 p.a. annual fee for the first year ($129 p.a. thereafter)
finder Exclusive: Receive a long 18-month, 0% p.a., no fee balance transfer and earn Suncorp Rewards Points or Qantas Points per $1 spent.

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* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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