Latitude Gem Visa Credit Card

Offers long-term 0% payment plans at stores across Australia and no interest for 6 months on purchases of $250 or more, with an $8.95 monthly account fee.

The Latitude Gem Visa is a credit card that gives you a few different ways to shop interest-free. It has partnered with a range of stores around Australia to offer interest-free payment plans that range from 6 to 60 months, depending on the offer. It also offers 0% p.a. for 6 months automatically when you make purchases over $250 and up to 55 days interest-free on eligible everyday purchases.

But with a 19.95% p.a. purchase rate and 24.99% p.a. expired promotional rate (which applies after a long-term interest-free plan ends), it could get expensive if you don’t stay on top of your repayments.

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Amy Bradney-George

Last Updated Mar 11, 2021

19.95% p.a.

Purchase rate

$0 p.a.

Annual fee

55 days

Interest free period

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Details

Product Name	Latitude Gem Visa
Purchase rate	19.95% p.a.
Annual fee	$0
Interest-free period	Up to 55 days on purchases
Cash advance rate	24.99% p.a.
Min credit limit	$1,000
Card type	Visa
Foreign currency conversion fee	3%

Available to temporary residents	Yes - Conditions apply
Joint application	No

Pros

0% interest rate for 6 months on purchases $250 or more
Up to 55 days interest-free to pay for purchases under $250 when you meet the criteria
Up to 60 months interest-free payment plans

Cons

A 19.95% p.a. purchase rate kicks in after the 6-month period
Expired promotional purchase rate of 24.99% p.a. is high
No rewards program and travel insurance

Bonus points	N/A

Annual fee	$0
Minimum monthly repayment	3% of the closing balance or $25, whichever is greater
Late payment fee	$30
Foreign currency conversion fee	3%
Cash advance fee	3% or $3, whichever is greater
Overseas cash advance fee	3%

Go to Latitude Financial Services's site More info

Review by

Amy Bradney-George

amy.bradney-george@finder.com

Amy Bradney-George has been writing about personal finance for more than 13 years – including over 600 articles as a senior writer for Finder. Her work has also appeared in publications including Money Magazine, The Sydney Morning Herald, Financy, ABC News Australia and Equity Magazine. Amy has a Bachelor of Arts in Journalism and Drama from Griffith University.

Expert review

The Latitude Gem Visa has partnered with a wide variety of retailers including JB Hi-Fi, The Good Guys, Harvey Norman, Forty Winks, and Webjet Exclusives to offer interest-free finance for major purchases. While actual offers vary by store and promotion, you can expect to find 12-, 24- and up to 60-month 0% interest payment plans at a range of participating stores throughout the year – along with other seasonal offers of different lengths. Often, you’ll even have the option of applying when you’re in-store and ready to make a purchase.

This can be a useful option if you need to pay for big expenses – like a new washing machine or holiday – but don’t have enough savings to pay for it in one go. But keep in mind that an interest rate of 24.99% p.a. applies if you don’t pay off the entire purchase by the end of the promotional period.

This rate is high when compared to the majority of credit cards in Australia. So think carefully about how you plan to use this card and whether you can stick to payment plans that will help you cut down your costs.

How to apply

You can apply for the Latitude Gem Visa online or in-store at participating retailers when you're taking out a 0% p.a. interest payment plan. With either option, it's a good idea to check that you meet the following eligibility criteria and have all the documents and details needed to complete the application.

Eligibility criteria

Residency. Australian citizens, permanent residents and temporary residents are eligible to apply. Temporary residents need to hold a visa that is valid for at least the next 12 months.
Credit history. You should only apply for this card if you have a clean credit file without any black marks (such as defaults or previous bankruptcy listings). You can check your credit score for free through Finder.

Age. You must be at least 18 years old to apply.

Required documents

Personal details. This includes your full name, date of birth, email address, contact number, residential address and marital status. You also need to provide a valid form of ID, such as your driver's licence or passport.
Employment details. You need to provide details of your employment status, salary, job title and your employer's contact details. You may also be asked to provide recent payslips to verify these details.
Financial details. This covers your other financial details, including any other forms of income, assets and savings, along with existing debts, loans, cards or other liabilities. You also need to give an estimate of your share of regular household expenses, such as rent, mortgage payments, bills and groceries.

Go to Latitude Financial Services' site More info

Card benefits

Interest-free payment plans. These plans vary by store and purchase, with three main options:
- Interest Free Plans. With this option, you need to make minimum monthly repayments and can get a 0% p.a. interest period starting from 6 months.
- Instalment Interest Free. This payment plan gives you a way to pay off purchases interest-free by making equal monthly repayments over a set period of time. These plans are only available at selected retailers during special promotional periods.
- Buy Now, Pay Later. With this plan, you can get the items that you want without any upfront payment or scheduled repayments. Instead, you can make payments at any time and won't be charged interest if you pay it off before the plan's end-date.
0% interest on purchases for 6 months. Any purchases you make that are worth $250 or more will automatically be eligible for a 0% p.a. interest rate for 6 months from the date of the purchase (19.95% p.a. interest rate applies thereafter). Note that minimum repayments still apply.

Up to 55 days interest-free. This card offers up to 55 days interest-free on your other purchases, as long as you pay the full closing balance by the due date on each statement. This excludes the balance for any active 0% p.a. payment plans.
Mobile payments. You can use this card to make payments straight from a mobile device with Apple Pay, FitBit Pay, Garmin Pay, Google Pay or Samsung Pay.

Rates & fees

Monthly fee. The Latitude Gem Visa credit card charges a monthly account service fee of $8.95. This will be waived if your balance is less than $10. If you pay the monthly service fee each month, it would add up to $107.40 over a year.
Purchase rate. Outside of any promotions, this card has a standard interest rate of 19.95% p.a. on purchases.

Interest rate for expired long-term interest-free payment plans. If you get an interest-free payment plan through a participating retailer and do not pay it off in full by the end of the promotional period, an interest rate of 24.99% p.a. applies.
Cash advance rate. If you use this card to withdraw cash or make cash advance transactions, an interest rate of 24.99% p.a. will apply.
Foreign transaction fee. A fee of 3% applies for transactions made overseas or online with a merchant that's based overseas.
Payment handling fee. A fee of $0.95 (online) and $2.50 (in-person) applies when you make payments towards the balance on this card. This includes BPAY payments. You can avoid this fee by paying via direct debit, mail or through the Online Service Centre.

Go to Latitude Financial Services' site More info

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87 Comments

Csb
October 24, 2019

Is it possible to withdrawal cash from gem visa card. ??

Nikki
October 25, 2019

Hi CSB,

Thanks for your comment. Yes, you can access cash using your Latitude Gem Visa to make cash withdrawals from any ATM displaying the Visa logo. When withdrawing cash overseas, your account will be debited for the amount in Australian dollars at that day’s exchange rate, for further details refer to your Gem Visa card Conditions of Use.

Hope this helps and feel free to reach out to us again for further assistance.

Best,
Nikki

Kata
October 17, 2019

Hi
Just wondering how the credit limits work on my card? So i want to buy a bed but it cost more than my limit. I want to pay off in installments l. Can I do this?

Nikki
October 17, 2019

Hi Kata,

Thanks for reaching out to us. Generally, you are not allowed to purchase any amount on the card that is higher than your credit limit and you would have to request a credit limit increase and if approved, then you can purchase the bed you are looking to buy.

You are able to pay the bed in installments. You can find the Interest-free payment plans of the card by reading “CARD BENEFITS.”

Hope this helps and feel free to reach out to us again for further assistance.

Best,
Nikki

Zac
September 27, 2019

Can I spend over my card limit?

Nikki
September 28, 2019

Hi Zac,

Thanks for getting in touch! Generally, credit cards have an overdraft limit when you have used up your credit limit. You’ll receive a message within 2 business days via either email, SMS or post from the time your account goes over limit. This is a free service provided to you. You should only receive one over limit alert between each statement period. There are no charges for going over your credit limit.

We recommend checking your transactions and monitoring your balance via the Latitude Online Service Centre.

Hope this helps!

Best,
Nikki

Jarvis
July 30, 2019

Do you have 55 days to pay off cash advance before interest affects it or is it only the interest of 3% or $30 which ever is greater?

So let’s say, I took out $450 how long do I have to pay it off and what is the interest?

finder Customer Care

Jeni
July 30, 2019

Hi Jarvis,

Thank you for getting in touch with Finder.

The charge of 3% of your transaction value or $3, whichever is greater, is called the cash advance fee. If you take out $450 cash from your Gem Visa card you will see a $13.50 added to your $450 withdrawn cash and the balance will earn 24.99% p.a. as cash advance interest rate. Unlike purchases, cash advance transactions are not eligible for interest-free days. The transaction accrues interest at the cash advance rate of interest from the time it is made until you pay it off in full.

I hope this helps.

Thank you and have a wonderful day!

Cheers,
Jeni

Brad
October 17, 2018

Hi I’m Brad, I just want to know if I spend $1500 on my Gem card at a retailer not on the list does that still give me 6 months free interest . And if I only repay $1000 in the 6 months do I only pay interest on the $500 balance

finder Customer Care

Jeni
October 22, 2018

Hi Brad,

Thank you for getting in touch with finder.

It is YES on both of your questions. If you use this Gem Visa card outside the partner network to make a purchase of $1500 – which is more than $250, you don’t have to pay any interest for 6 months. Now, if you just pay $1000 within 6 months, the remaining balance of $500 will be charged at 24.99% p.a.

I hope this helps.

Please feel free to reach out to us if you have any other enquiries.

Thank you and have a wonderful day!

Cheers,
Jeni

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