Gem is part of Latitude Financial Services, a leading consumer lender operating across New Zealand and Australia, giving this Visa credit card New Zealand offer the backing of an established finance provider.
What you need to know about this credit card
- Standard purchase interest rate: 29.49% p.a. applies to general purchases after an interest-free term ends.
- Cash advance rate: Cash advances are charged at 29.95% p.a.
- Annual fee: $65, charged as $32.50 every six months.
- Establishment fee: A one-off fee of $55 applies when the account is established.
Pros
- Six months interest free: Receive 0% interest for six months on eligible general purchases of $250 or more after selecting them in the Latitude App or Latitude Service Centre within 30 days.
- Long-term retail plans: Access 0% interest plans ranging from six to 60 months at hundreds of participating retailers, subject to approval and offer conditions.
- Up to 55 interest-free days: General purchases may receive up to 55 days interest free when the modified closing balance is paid by the due date.
- No additional cardholder fee: Add another cardholder without paying an additional cardholder fee.
- Fast initial response: A completed application may receive a response within 60 seconds, although cases requiring further information may take up to five business days.
Cons
- High standard interest rate: Any eligible amount remaining after an interest-free period may be charged the standard purchase rate of 29.49% p.a.
- Account fees apply: The card has a $65 annual fee and a one-off $55 establishment fee.
Why choose Latitude for your credit card?
Unlike the ANZ Low Rate Visa, Gem Visa focuses on 0% retail plans of up to 60 months, making this flexi credit card useful for larger planned purchases.
Westpac Fee Free Mastercard has no annual fee, but Gem Visa stands out through longer retailer plans for shoppers comparing credit card interest-free periods.
BNZ Lite Visa targets lower ongoing interest, while Gem Visa offers six months at 0% on eligible purchases from $250, strengthening its credit card promotion appeal.
Kiwibank Zero Visa has no account fee, but Gem Visa provides access to promotional plans at hundreds of retailers, a practical advantage among store credit cards.
ASB Visa Light offers Smart Rate on purchases from $1,000, while Gem Visa starts its six-month 0% option at $250, giving this online credit card a lower purchase threshold.
How to apply for your Gem Visa
Complete the credit card application online and you could receive an initial response within 60 seconds. Check your eligibility today and see whether Gem Visa fits your next planned purchase.