Learn more about Gem Visa.

The GEM visa is a credit card product offered by GEM Finance which is owned by Latitude Financial Services. You may recognise the GEM branding from department stores as they offer interest-free purchases on consumer products.

The GEM card is for shoppers who want to spread the cost of their purchases without paying interest.

Gem is currently offering 6-month interest on all purchases greater than $250.00, anywhere where Visa is accepted. Certain terms and conditions do apply.  When the interest-free period ends, interest is charged at a comparatively high rate.

The GEM visa has a $52 annual fee but, also has a $55 establishment fee.

As a Visa, GEM is accepted everywhere Visa is accepted, which is millions of retailers across the world.

GEM is a great card for those who are looking to buy expensive items for the house (Fridge, Laptops, TV’s, etc.) while spreading the cost over the year, but are also are disciplined enough to pay the balance off before the interest-free period has expired.

Summary of the GEM visa credit card

Pros:

  • 6 months interest-free period on all purchases over $250.00
  • Is a Visa so is accepted at millions of retailers across the world

Cons:

  • High annual charge and an additional credit establishment fee
  • High-interest rate once the interest-free period expires.