The Latitude Gem Visa card is a popular Australian credit card for a good reason. Basically, the name of the card is Gem Visa, and the issuing company is Latitude Financial Services. The company also offers other financial products, including car loans, retail finance, personal loans, and other credit cards. Sometimes, Latitude provides some great deals, so it is always worth scanning the horizon.
If you’re looking for a great interest-free offer, this might just be the right card for you. It’s essential to take the time to understand the features it offers and how to use it so you may ultimately benefit from it.
When you qualify for the card, you can enjoy several features, including 0 percent interest on Visa purchases over $250. This interest-free period is only for six months. Also, you can get up to 55 interest-free days on purchases under $250.
This card allows contactless payments thanks to the Visa payWave chip technology, which enables you to make payments for transactions less than $100. This helps to save you time when making simple purchases.
It’s easy to manage the card through the Gem Visa Online Service Centre. You can use your PC, tablet, or mobile phone to check your balance, view your transactions, and more.
Gem Visa also guarantees security as it is protected by Verified by Visa for online purchases and fraud protection. It also offers a money-back guarantee on fraudulent transactions.
Interest Rates and Fees
As noted above, the card offers zero interest rates during the introductory period depending on the purchase amounts. You have a zero rate for purchases over $250 for the first 60 days and 55 days for purchases below $250.
Gem Visa has a purchase interest rate of 24.99 percent per year. The cash advance cash rate is also 24.99 percent per year.
Regarding fees, you pay an annual fee of $99, which is charged on account opening, and once every year. The positive aspect is that you don’t pay establishment and monthly account keeping fees. If you want paper statements for your account, you can get them at $2.5.
The cash advance fee is 3 percent of the cash advance or $3, whichever is greater. The fee is capped at $30, so you can never pay more than that. This fee applies to all cash withdrawals from your account. Latitude recommends using Westpac ATMs to reduce your fees.
The international transaction fee is 3 percent of the cash advance or the purchase. This fee applies to all transactions made in a foreign country. It also applies to payments you make to merchants based in other countries.
If you fail to pay the minimum monthly amount, you’ll be charged a late fee of $30. There is also a fee for payment handling, which is $2.50 when you make payments in person and $0.95 for online payments. You can avoid the fee by making your payments via mail or direct debit.
Using Your Card
When you get the card, learning how to use it will help keep your overall costs to a minimum. Whether you want to access cash, make a purchase or access your account, it’s essential to know how the card works for you. Here are some common questions and answers to help with that.
Can I Use My Gem Visa Card Overseas?
Yes. You can use your Gem Visa overseas, but you must beware of the fee of foreign transactions. Whether you’re traveling abroad or buying a product from another country, you’ll pay a fee of 3 percent of the transaction.
Can I Transfer Money From Gem Visa to Bank Account?
You can’t transfer money to your bank account for your Gem Visa account. However, you have an online account on the Gem Visa Online Service Centre. You can also download the Latitude app for Android or iPhone to make card management easy.
How Do I Check My Gem Visa Balance?
You can access your account anywhere, anytime via the Gem Visa Online Service Centre to check your balance.
You can use the Online Service Centre to manage your account and change the details. It allows you to view your statements and transactions. Also, you can check your available credit limit through the account.
All you need to do is to register online for an account after receiving your card.
How do I Apply for the Latitude Visa Gem card?
If you want Gem Visa, you can apply for it in only three steps. But first, you must make sure you meet the eligibility requirements.
You must be at least 18 years of age and a permanent Australia citizen. Ensure you have the necessary documentation and paperwork, such as driver’s license, passport, or proof of age card. You’ll need to provide details of your assets, income, liabilities, and employer.
You can give consent for Latitude Financial to verify your age online using credit reporting agencies or the Australian Government’s Document Verification Service. This allows you to verify your identity electronically instead of visiting the company’s offices for verification.
Also, the company will complete a credit check during the application. You must agree to this before starting your application.
The average online application time takes about 7 minutes, and you receive a response within 60 seconds, as noted on the Latitude Financial website. If approved, it will take about 5 to 10 working days for your card to arrive.
For security, the card is usually inactive. You must activate it when it arrives to use it. You can easily do this by calling 1300 630 977 and following the prompts.
Latitude Gem Visa card is an excellent option for those who want to take advantage of the interest-free days they offer. If you shop using thousands of Gem partner stores, the interest-free period can be extended by one or two years.
However, you can’t earn rewards on your purchases, and the purchase rate is somewhat high compared to other options.
You’ll be given a credit limit, which you can request for an increase or a decrease if needed. For a limit increase, you’ll need to apply after six months. Be sure to take the time to understand the card’s details and features to determine if it’s the right option for you.