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Latitude Gem Visa Credit Card
Latitude Gem Visa Credit Card

Latitude Gem Visa Credit Card

Updated 9 June 2020

Purchase Rate (p.a)

24.99%

Balance Transfer (p.a)

N/A  

Annual Fee (p.a)

$99

$0 over 0 months

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Pros and cons

  • Receive up to 6 months interest free if you make purchases over $250
  • Take advantage of 12, 18 and 24-month Interest Free payments plans from a range of retailers
  • Receive up to 55 days interest free if you make purchases under $250

  • Standard Purchase and Cash Advance rate of 24.99% p.a.

Creditcard.com.au review

Editor Review

Latitude Gem Visa Credit Card

Roland Bleyer
Credit Card Expert with over 15 years card experience and the founder of Creditcard.com.au. about this card.

The Latitude Gem Visa

With a range of interest free options available, the Latitude Gem Visa is most definitely a shopper’s credit card. While other cards may provide interest free introductory offers, this card allows cardholders to benefit from interest free shopping at any time, with 0% interest for six months on any purchase over $250, and longer interest free plans on purchases made at participating stores.

What we love...

Used correctly, the Latitude Gem Visa could help you save big on interest. As an everyday credit card, the Latitude Gem Visa lets you enjoy up to 55 days interest free on all your everyday purchases, as long as you clear your balance both for the statement before the purchases were made, and for the statement on which the purchases are listed.

On larger purchases of $250 or more, you can benefit from some extra breathing room, with 0% interest for six months. That gives you a good long time to repay your purchase, while paying nothing in interest. You don’t need to set up anything to enjoy this interest free period – all purchases over $250 made on the card will automatically receive it.

But that’s not all. If you use your Latitude Gem Visa at any of the card’s participating retail partners and service providers – such as The Good Guys, Amart Furniture and Michael Hill – you can take advantage of even longer 0% interest free plans. Simply present your card and the salesperson will let you know which 0% Interest Payment Plans are currently available.

You can then choose from three repayment plan options. With the Interest Free plan, you will make minimum monthly payments; with the Instalment Interest Free plan, you will pay equal monthly payments; and with the Buy Now, Pay Later plan, there are no set payments required during the interest free period, so you pay what you want, when you want.

With each of these options, and as long as you pay the balance on time and in full before the end of the plan, you won’t pay anything in interest.

What’s not so great...

We’ve talked a lot about the various 0% interest free options offered on the Latitude Gem Visa. As long as you deal with these correctly – paying them off before they start to accrue interest – they can obviously be very beneficial. However, if you fail to repay your purchases within that interest free period, they will attract the card’s high rate of interest.

It’s also worth pointing out that while the card’s annual fee isn’t super high, it is sizable. It’s what you’d expect to pay on a platinum card or rewards card on the lower in of the scale. But, while these cards offer features and rewards, the Latitude Gem Visa simply offers interest free shopping. Great, if that’s what you’re looking for. Not so great if you want more in extras.

Why should you choose this card?

If you want to save on interest when using your credit card, the Latitude Gem Visa could certainly help you do that. But, you need to be smart and you need to be organised if you want to take advantage of the various interest free options on offer. Be sure to read the small print, and know exactly what needs to be paid off and when.

Aside from its potential to save on interest, the Latitude Gem Visa does have a few nice features up its sleeve. Of course, being a Visa card, it offers all the card features that come as standard on a Visa, such as contactless payments through Visa PayWave, and card security in the form of fraud detection and zero liability, and Verified by Visa for online shopping.

In addition, the Latitude Gem Visa provides cardholders a range of opt-in insurance covers. These include:

  • Price Protection, which pays the difference on eligible items purchased on the card if you find them cheaper at another retailer.
  • Merchandise Protection, which covers your purchases if they are lost, stolen or damaged within 12 months.
  • Stolen Card, which gives you $200 if your Latitude Gem Visa is reported stolen.
  • Balance benefit, which pays the balance of your account up to $5,000 if you lose your job unexpectedly (for at least 90 days), or you can’t work due to sickness or injury.
  • Life benefit, which pays the balance owing at the date of your death, up to $20,000.

These covers come at a cost of 1% of your monthly closing balance, which will be automatically debited to your card account. So, if your closing balance is zero, your monthly premium will be zero. If your closing balance is $4,000, your monthly premium will be $40. Read the PDS for more.

Overall Rating

A shopper’s credit card that could help you save on interest, the Latitude Gem Visa offers up to 55 days interest free on purchases under $250, 0% interest for six months on purchases over $250, and longer interest free plans at participating retailers. Opt-in insurance is also available.

User reviews

Latitude Gem Visa Credit Card ( based on 18 Creditcard.com.au user reviews )

44% rating based on 18 reviews

Rates
Fees
Rewards
Customer Service
Value
55%

Shannon

29 May 2020

For weeks its been telling me that bank transfer is unavailable because I have used it in the last 5 days, when I havent. I set up direct debit for it to come out BEFORE the due date, it comes out the day after. I try calling, an automated person tells me they can help when they can't and I cant ever find an option to speak to a customer service consultant

Recommends this card

Rates and fees

Interest rates



Purchase rate 24.99% p.a.

Cash advance rate 24.99% p.a.

Interest free period on purchases up to 55 days

Credit limits

Minimum credit limt $1,000

Maximum credit limit N/A

Fees & repayments

Annual fee $99 p.a.

Additional card holder fee Up to 9 at no extra cost

Foreign transaction fee 3%

Minimum repayment

Cash advance fee 3%

Late payment fee $30

Additional features

Complimentary insurance

International Travel Insurance No

Flight Inconvenience Insurance No

Transit Accident Insurance No

Smartphone Screen Insurance No

Purchase Protection Insurance No

Extended Warranty Insurance No

Rental Vehicle Excess In Australia Insurance No

Extras

Up to 6 months interest free on purchases over $250 or over

1, 2, or 3 years interest free periods at selected stores

Overview

Latitude Gem Visa Credit Card

The Latitude Gem Visa card offers the almost unparalleled 6 months interest free on purchases over $250 or over. It also features some great opt-in insurance options for purchase protection, very useful and relevant to the savvy shopper. The rate reverts to 24.99% p.a. after the 6 month period. Up to 55 days interest free is available on purchases under $250.

Key features

  • Receive up to 6 months interest free if you make purchases over $250
  • Take advantage of 12, 18 and 24-month Interest Free payments plans from a range of retailers
  • Receive up to 55 days interest free if you make purchases under $250
  • Gem Visa Fraud Security Protection
  • Standard interst rate of 24.99% on purchases and cash advances

Minimum criteria to apply for this card

  • Be over 18 years old

  • Good Credit and have not applied for multiple credit cards recently

  • Australian permanent resident

  • You have your personal details ready to complete the online application

Roland B Bleyer

Roland B Bleyer founded Creditcard.com.au in 2005 and has extensive knowledge about credit cards. He personally answers all questions and write the editor reviews for each card here. Always keen to share his passion to educate consumers and help you select better suited credit cards.

Recently Asked Questions

Something you need to know about this card? Ask a our credit card expert a question.

122 questions (showing the latest 10 Q&As)

Sacbinit

Sacbinit

1 July 2020
Hi, can this card be used as a normal credit card?
    Roland B Bleyer - CreditCard.com.au Founder

    Roland

    3 July 2020
    Hi Sacbinit, yes you can use to make normal everyday credit card purchases.
Edna Gutierrez

Edna Gutierrez

27 June 2020
I want to know my balance? Can I still use the card?

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