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GE Money – Managing your Gem Visa Card
The Gem Visa Card is the ideal financial instrument for anyone looking to make larger purchases while saving money. This is because this credit card offers customers two great interest free options, allowing them to take advantage of lengthier grace periods instead of the standard 44 or 55 days most other credit cards offer.
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A Quick Look at the Gem Visa Card
The Gem Visa Card is relatively unique in that it’s designed to help people make larger purchases, which they can pay over a number of months without paying interest. Thus, you can use your Gem card to purchase a wide variety of goods and if your total bill is equal to or exceeds $250, you will automatically receive a 6 month interest free period. In other words, you have 6 months to pay off your purchases without paying a dollar in interest. Even better, you aren’t forced to buy a single item that’s $250. Your purchases can be made up of as many items as you choose and as long as your total is $250 or more, you’ll be eligible for the interest free period.
The other option is for even more expensive items. Thus, if you want to buy a TV or a computer or even jewellery, you can take advantage of an even longer interest period by purchasing from a participating store or healthcare provider. There are more than 2,500 stores that offer 12, 18, 24 months interest free periods or even longer. To find a store easily and quickly, use the Gem store locator.
Using Your Gem Visa Card
If you’re not sure what your credit limit is, you can check it at the Online Service Centre or on your monthly statement. Note that your cash credit limit might be different from your credit limit, but you can find the information in the exact same places.
The minimum monthly repayment, which is calculated as 3% of your total outstanding balance or $20, can be found on your statement as well as the due date. To ensure you avoid late payment fees, make sure you pay your bill on time.
To keep track of your interest free payments, the statement you receive every month breaks everything down and also shows you when the interest free period will expire on each of your purchases so you can manage your payments to avoid paying interest. If you don’t pay your purchases in full, the outstanding balance will revert to the standard rate when the interest free period runs out.
Managing Your Visa Card from Gem
If you want to request a new credit limit on your Gem Visa, all you have to do is log into your account at the Online Service Centre and enter the new credit limit. If it’s approved, your credit limit will be increased immediately.
Making your payments is extremely easy as you have a few options including direct debit, automatic payment or at any PostShop.
Managing your account is quite easy, especially if you register for an Online Service Centre account. Here you can check the status of your account, your transactions and more. You can also make payments.
The Gem Visa card is ideal for anyone who wants to make larger purchases and have some time to pay them off without incurring any interest. To ensure you maximise your savings, try to pay off your purchases within the interest free period.
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