Gem Visa is a New Zealand credit card created for people who want flexibility when making larger purchases. It combines promotional interest-free plans, digital account management and several repayment options, but fees and a high standard interest rate apply.
Gem Visa: best credit card for interest-free retail purchases
Gem Visa may appeal to shoppers seeking 0% interest credit cards for planned purchases. Eligible general purchases of $250 or more can receive six months at 0% when selected in the Latitude App or Latitude Service Centre within 30 days of the purchase date.
At participating retailers, this flexi credit card may also provide interest-free payment plans from six to 60 months. Minimum monthly repayments may not clear the purchase before the promotional period ends, so planning repayments around the expiry date is important.
Should I get a credit card from Latitude?
Latitude Financial Services operates in New Zealand and Australia and provides credit cards, interest-free plans and personal lending products. This experience may reassure applicants looking for an established credit card company rather than an unfamiliar provider.
Before deciding should I get a credit card, consider the $65 annual fee, the $55 establishment fee and the 29.49% p.a. standard purchase rate. Gem Visa is more suited to carefully planned promotional purchases than long-term revolving debt.
How to get a credit card from Latitude?
To obtain the Gem Visa, you need to meet the stated credit card eligibility requirements:
- Be at least 18 years old.
- Be a New Zealand citizen, permanent resident or eligible to reside in New Zealand for at least 12 months.
- Provide a passport or driver licence.
- Provide details of your income and expenses.
- Provide your employer’s name and contact details.
- Provide a valid email address.
- Complete identity and address verification.
- Meet Latitude’s responsible lending and affordability criteria.
Apply for credit card
Follow these steps to complete the online credit card application:
- Visit the official Gem Visa application page.
- Check that you meet the eligibility requirements.
- Enter your personal, employment, income and expense details.
- Provide the requested identification information.
- Review the applicable rates, fees and conditions.
- Submit the application for assessment.
- Wait for a response, which may arrive within 60 seconds.
- Provide further information if requested.
- Once the physical card arrives, activate it and choose a PIN before using it.
FAQ
How does Gem Visa interest work?
Gem Visa applies 0% interest to qualifying promotional purchases during the approved term. Once the term ends, any remaining amount is charged at the standard credit card interest rate, currently 29.49% p.a. Cash advances are charged at 29.95% p.a.
To receive up to 55 interest-free days on general purchases, you must pay the modified closing balance shown on each statement by its due date. This credit card interest-free period does not remove the need to make the required monthly repayments.
How can I increase my Gem Visa limit?
A higher limit is not automatic. Contact the Gem Visa team to request an assessment, and be ready to provide updated financial information. Approval of a high-limit credit card request depends on responsible lending criteria, affordability and your circumstances.
Avoid treating a larger limit as additional income. Before requesting an increase, consider whether the existing credit card limit already covers your planned spending without creating repayment pressure.
How do I pay off Gem Visa?
You can repay Gem Visa through internet banking, direct debit, automatic payment or at a PostShop branch. Internet banking and direct debit do not have a Gem payment fee, making them practical options for managing this Visa credit card.
To pay the account off, confirm the full amount owing and make enough repayments to clear the balance, fees and any interest. Paying only the minimum on this credit card may extend the debt and may not clear promotional purchases before their interest-free terms expire.
How do I cancel a credit card from Latitude?
Contact the Gem Visa team on 0800 500 505 and request closure of the account. Before cancelling the New Zealand credit card, pay the full outstanding balance and arrange another payment method for recurring transactions.
Destroy the physical card after the account has been formally closed and keep the closure confirmation for your records. Cancelling the card does not remove any unpaid credit card balance or fees already charged.