Gem Visa credit card

Pay 0% interest for six months on purchases over $250 with the Gem Visa credit card, and an even longer interest-free period at select New Zealand retailers.

Gem Visa is an alternative to traditional bank-issued credit cards worth considering if you are looking to pay as little interest as possible.

While it does have an establishment fee and annual account fee, this card offers 6 months interest free on purchases over $250 made anywhere in the world.

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25.99% p.a.

Purchase Rate

$52 p.a.

Annual Fee


Product NameGem Visa
Purchase rate (p.a.)25.99% p.a.
Annual Fee$52 p.a.
Interest Free PeriodUp to 55 days on purchases
Minimum Monthly Repayment3% of transaction value or $20, whichever is greater
Card TypeVisa
Late Payment Fee$15
Complimentary Travel InsuranceNo

Benefits of Gem Visa

  • 6 months interest free. When you make a purchase of $250 or more, both in New Zealand and around the world, you won’t pay any interest for the first 6 months.
  • 55 days of 0% interest on all purchases. For purchases under $250, you’ll get 55 days interest-free as long as you pay the payment to reduce further interest amount indicated on your Gem Visa statement.
  • Long term finance. When you use your card at one of around 2,000 participating stores in New Zealand, you can take advantage of long term finance interest-free deals. The types of deals include interest-free for a while, interest-free instalments or interest-free deferred. Stores that offer Gem Visa interest-free finance options include Mitre 10 and Michael Hill. You can also use Gem Visa at participating dentists.
  • Shopper’s protection insurance. Buy an eligible item and find that the retailer you purchased the item from offers it on sale at a lower price within 12 months. You may be eligible to get the difference refunded up to a maximum amount of $600.
  • Instant cardless payments. Once approved, you can start making purchases straight away without waiting for your physical card to arrive. The instant cardless payment feature allows you to shop up to a maximum of $80.

Features of the Gem Visa

  • Fast application response. In many cases, a reply is given within 60 seconds. However, if further information is required, you may not receive approval for a few days.
  • Mobile payments. Connect your Gem Visa to your Google Pay, Apple Pay, Fitbit Pay or Garmin Pay accounts to make convenient payments without needing to pull your wallet out.
  • Payment options. To make payments on your Gem Visa, you can do so by internet banking, phone banking, direct debit, automatic payment or in person at your local PostShop.
  • Fees. When you are approved for a Gem Visa, you’ll be charged a $55 establishment fee and an annual account fee of $52. Additional fees apply for cash advances, international transactions, over the counter payments and replacement cards.
  • Interest rate. After the no-interest term expires for purchases, the prevailing interest rate is 25.99%.
  • No liability for fraud. As long as you have not contributed to fraudulent activity and notify Gem as soon as possible, you will not be held liable for fraudulent transactions.
  • Latitude app. The Latitude app allows you to manage your cards and personal loans in one place. Once you have downloaded it, you can link your Gem Visa to view your available credit and transaction history.

What to consider before applying

It’s essential to understand how the Gem Visa works before you apply. Some may think that it’s just the same as any other credit card, but there are some differences. Here are some points to consider before you decide whether this card is right for you:

  • Gem Visa states in its terms and conditions that if you miss a payment, you could be forced to pay your entire balance immediately. To ensure you avoid this, pay at least the minimum amount before the due date each month.
  • While you can enjoy interest free purchases and deferred payment deals, Gem Visa’s high interest rate for purchases means that you’ll pay more in interest than you would with a low interest credit card. The standard interest rate is 25.99% p.a., compared to rates as low as 9.90% p.a. for low rate cards.
  • Purchases over $250 don’t incur interest for the first 6 months, but keep in mind that you’ll then start paying 25.99% p.a. until it’s cleared.
  • A default fee of $15 is charged if you make a late payment.
  • It will cost you $52 every year to keep your card plus there is a $55 establishment fee when you pay with your Gem Visa for the first time.
  • You can’t pay off your Gem Visa with another credit card, but you can usually transfer your Gem Visa balance to a card at a major bank.
  • It’s possible to withdraw money at an ATM, but you will be charged fees, and the amount is not interest-free.
  • You can take out Shopper’s Protection Insurance.

Gem Visa Insurance

When you apply for your Gem Visa, you can opt for Shopper’s Protection Insurance, which is charged to your account month at a rate of 1% of your statement balance. The maximum monthly charge is $50.

The insurance covers things like:

  • Lost card replacement
  • The repair, replacement or refund of goods that are lost, stolen or damaged
  • Price Protection Insurance
  • Repayment Insurance if you are unable to meet your repayments due to an unexpected event.

How can I apply for a Gem credit card?

If you have compared credit cards and have decided the Gem Visa is suitable for you, you can hit the Apply Now button on the website to be taken to the application form. Make sure that you meet the eligibility criteria and have the required information and documents ready to go.

Eligibility requirements

To be eligible for a Gem Visa, you must:

  • Be 18 years or over
  • Be a New Zealand citizen or permanent resident
  • Meet the credit and lending criteria

Necessary documents and information

During the application process, you are asked to supply:

  • Your email address
  • Your driver’s licence or passport
  • Proof of address
  • The name of your employer and their contact details
  • Your income
  • Details of expenses and debts

Once you have submitted your application, you’ll receive an approved, declined or need more information response within one minute. Further information is required to decide in some situations, and Gem Visa will contact you by email to request these details.

Compare other credit cards

Name Product Purchase Rate Interest Free Period Annual fee
The Co-operative Bank Fair Rate Credit Card
12.95% p.a.
Up to 55 days on purchases
0% p.a on balance transfers for 6 months, plus benefit from a low rate of 12.95% on both purchases and cash advances.
American Express Airpoints Card
0% for 6 months (reverts to 19.95% p.a.)
Up to 55 days on purchases
Be rewarded with 50 bonus Airpoints Dollars. Simply apply, be approved, and spend $750 on your new Card in the first 3 months of membership. This offer is available to new Card Members only.
American Express Airpoints Platinum Card
19.95% p.a.
Up to 55 days on purchases
Be rewarded with 300 bonus Airpoints Dollars when you apply online, are approved, and spend $1,500 on your new Card within the first 3 months. This offer is available to new Card Members only. You will also earn 1 Airpoints Dollar for every $59 you spend on your card.
American Express Platinum Edge Credit Card
2.99% for 6 months (reverts to 19.95% p.a.)
Up to 55 days on purchases
Enjoy a low rate on purchases and earn 20,000 Membership Rewards Bonus Points if you apply, are approved and spend $750 in the first 3 months of Card membership. This offer is available to new Card Members only.

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