Gem Credit Cards

Gem Finance is a New Zealand financial institution providing credit cards, personal loans, insurance and retail finance.

Types of Gem credit cards

Gem offers a single credit card to customers: the Gem Visa Credit card.

Gem Visa Classic Credit Card

The Visa Classic is Gem’s flexible credit card that gives you access to credit funds almost anywhere in NZ or overseas. The Visa Classic comes with Visa payWave built in, as well as Visa’s verified security and optional Shopper’s Protection insurance in order to protect your purchases. It also offers the first 6 months interest-free on all purchases of $250 or more.


  • Interest rate on purchases: 25.99% p.a.
  • Cash advances: $2 per transaction (OTC), $1 (ATM) or $1.50 (International ATM)
  • Interest-free period: Up to 55 days interest-free for purchases under $250
  • Annual account fee: $52
  • Establishment fee: $55
  • Online: 24/7 online banking
  • Contactless: Full contactless payments support with Visa payWave

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Eligibility to apply for Gem credit cards

To apply for any of Gem’s credit cards, you must be able to satisfy the following criteria:

  • You must be a New Zealand resident
  • You must be over 18 years of age

How to apply for a Gem credit card

If you satisfy all of the above criteria, you can apply online for a credit card through Gem online banking – if you’re an existing customer – or by applying via the link on the Gem website.

You will need the usual documentation to apply for a credit card, including:

  1. Your employment details
  2. Your annual income
  3. Your usual living expenses
  4. Details about assets you own such as a home, car, other belongings, or savings
  5. Any debts you currently owe on other credit cards, loans, or overdrafts

If you don’t currently have a Gem bank account, you’ll also need to provide a valid photo ID. Read our checklist on applying for a credit card for a more detailed explanation of how the process works.

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Gem credit card FAQs

You’ll need to activate your new credit card before you can start using it. After receiving your card, you can activate it online by logging into either online banking or the Gem mobile app, and following the prompts.

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You can manage your Gem credit card through the company’s online banking. By using Gem’s online banking service, you can make and receive payments, pay your bill, access statements and transaction details, and view all of your accounts to see how much you owe.

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When interest is charged

Interest is charged on purchases when you carry a balance on your Gem credit card, and is charged on cash advances from the date of withdrawal. Interest is calculated daily on your outstanding balance, and charged to you monthly on your regular statement.

When interest is not charged

Up to 55 interest-free days apply to Gem credit card purchases, as long as you have paid the balance in full for the previous month’s statement and for the current month’s statement.

For more information about interest-free days, check out our article on how they work.

Your credit limit for your Gem Visa credit card will be determined based on the information you provide in your application, keeping in mind the minimum credit limits available for each card which are detailed above. If your credit history is good, you’ll likely be approved for a higher credit limit, and vice versa. Find out more about how credit limits are determined here.

You can close your Gem credit card account at any time by sending a written request to your Gem branch. Your card balance will need to be repaid in full even after the card is closed, and you will continue to receive monthly statements until your card balance is fully repaid.

If you’re cancelling your credit card with Gem because you’re struggling financially, contact its financial hardship team to find a potential solution.

If you’re cancelling your credit card because you aren’t happy with it, then consider checking out what else is on the market by clicking the button below to compare credit cards using the Canstar website:

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Gem Finance is a subsidiary of Latitude Financial Services, a company which serves more than 2.5 million customers across Australia and New Zealand. The company offers a smart range of products including credit cards, personal loans, insurance and business finance, aiming to provide products which are easy and flexible for many different lifestyles.

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Written by: Sam Bloom | Last updated: October 12, 2018