Find out more about Gem Visa

What is interest free?

Interest free lets you take what you want now and pay for it over time all without paying any interest during the interest free period. So if you purchase a TV on 24 months interest free, all you need to do is pay the minimum monthly payment each month. Remember, to pay the purchase off in full within the interest free period, you will need to pay more than the minimum monthly payment to avoid paying interest on your purchase.

What interest free options are available?

Gem® Visa has a number of great interest free options.

6 months interest free on any purchase over $250
Every time you make a purchase over $250 on your Gem Visa card, you'll automatically receive 6 months interest free. That's every time you pay a bill,¹ buy a gift, update your wardrobe, eat out or shop for groceries – it's that simple.

Long term interest free for those bigger purchases
If you're making a large purchase such as a new 3D-TV, fridge or even jewellery, you might like a longer interest free period. There are more than 9,000 stores and healthcare providers who often offer longer interest free terms (one year, two years, or even more). Use the store finder to find your nearest store, check with them to find out what terms are available then present your Gem Visa to staff at point of purchase.

Plus up to 55 days interest free on your other Gem Visa card purchases²
Up to 55 days interest free is available on your Gem Visa purchases under $250.

¹ Exludes BPAY transactions if they are treated as a cash advance
² To receive up to 55 days interest free you must pay by the due date for the relevant statement the total of (a) the proportion of your minimum monthly payment derived from your unexpired interest free purchases, plus (b) your closing balance, less any unexpired interest free and buy now pay later purchase amounts.

What types of purchases are eligible for 6 months interest free?

Any purchase in a single transaction over $250 will be eligible for 6 months interest free. This also includes multiple items totaling more than $250 processed in the one transaction. For example, if you purchase a pair of jeans for $180 and a top for $70, the total purchase price is $250 and you'll automatically receive 6 months interest free.

Anywhere, anytime you make a purchase over $250 on your Gem Visa, even if you're just out shopping, booking a flight or accommodation, concert tickets or even buying groceries, you'll automatically receive 6 months interest free.

Cash advances or cash equivalent transactions have no interest free period.

Examples of purchases that receive 6 months interest free:

✔ $300 weekly grocery shop

✔ $260 on school uniforms and shoes

✔ $380 return flights for two people

✔ $412 Electricity bill

Examples of purchases that do not receive 6 months interest free because the purchase is less than $250:

✘ $200 grocery shop

✘ $150 pair of jeans

Can I use my card for everyday purchases as well?

Yes, your Gem Visa can be used for everyday purchases, just like a normal credit card and receive up to 55 days interest free.² You can use your Gem Visa anywhere Visa is accepted both in-store and online.

² To receive up to 55 days interest free you must pay by the due date for the relevant statement the total of (a) the proportion of your minimum monthly payment derived from your unexpired interest free purchases, plus (b) your closing balance, less any unexpired interest free and buy now pay later purchase amounts.

What types of purchases are eligible for longer interest free terms?

Longer interest free terms are available at participating stores including,

• Electrical

• Furniture

• Bedding

• Computer

• Tyres

• Jewellery

• Exercise equipment

• Bikes

• Solar and many more

We even have your healthcare covered, from people to pets, we provide flexible patient payment plans for the following health care services:

• Dentistry (including Orthodontics)

• Vision Care (including LASIK)

• Audiology

• Veterinary Care

• Laser hair removal

• Non-surgical cosmetic treatments

How do I make an interest free purchase?

To receive 6 months interest free on any purchase over $250, all you need to do is pay using your Gem Visa credit card – it's that simple. The 6 months interest free is then automatically applied to your account.

For longer interest free terms, if you're already a cardholder, present your Gem Visa or your driver's licence at any participating stores. The sales person will advise you which interest free promotions are currently available. You can then purchase up to your available credit limit.

If I spend over $250, how do I know that 6 months interest free has been applied?

We'll send you a monthly statement which outlines all your transactions, where you'll be able to clearly identify your 'Gem Visa 6 months interest free purchases' and your 'Other interest free purchases' along with any other transactions.

No matter how you use your Gem Visa card, all your transactions and interest free purchases will be clearly explained on your monthly statements.

I've heard the term 'buy now, pay later', what does this mean?

'Buy now, pay later' is a repayment option that requires no payments during the buy now pay later promotional period.

The other repayment option is interest free, where monthly payments are required during the interest free period and which is also interest free during that period.

Can I choose which repayment option I use?

Interest free and buy now pay later repayment options are available, ask in-store at participating retailers about the interest free promotional offers and the repayment options that are currently available.

Can I only get long term interest free at the store where I initially made my purchase?

No, you can access a range of interest free promotions at over 9,000 stores around Australia and you can purchase again up to your available credit limit without having to re-apply.

Your Gem Visa can also be used just like any other credit card at any store that accepts Visa.

What is the minimum purchase amount for interest free?

For 6 months interest free on your Gem Visa purchases, the minimum purchase amount is $250 however for longer interest free terms, the minimum amount varies depending on the interest free term. Talk to the salesperson in the store to find out more. Up to 55 days interest free applies on all your other purchases.²

² To receive up to 55 days interest free you must pay by the due date for the relevant statement the total of (a) the proportion of your minimum monthly payment derived from your unexpired interest free purchases, plus (b) your closing balance, less any unexpired interest free and buy now pay later purchase amounts.

Do I have to pay off my interest free purchase before I can use my card again?

No. You can shop again, up to your available credit limit and make additional interest free purchases or just use the card as you would a normal credit card. If you wish to be charged no interest, you must pay off all long term interest free transactions before their expiry date. This may mean you have to pay off other balances too. See conditions of use booklet for details.

How do I avoid paying interest on my interest free purchases?

When you receive your monthly statement, your interest free purchases are outlined in detail. To avoid paying interest on these purchases, keep an eye on the page which lists your unexpired interest free and buy now pay later purchases. Here you'll see the outstanding balance that needs to be paid before the interest free expiry date.

You'll also need to consider the payments required for amounts which are due such as fees, charges.

What interest free period is available for purchases under $250?

Up to 55 days interest free is available on your Gem Visa purchases under $250. To receive up to 55 days interest free you must pay:

1. the proportion of your minimum monthly payment derived from your unexpired interest free purchases plus
2. your closing balance – which includes your under $250 purchase amounts - less any unexpired interest free and unexpired buy now pay later purchases in full every month.

Below is an example of the type of purchases:

Your transactions	$450
Your closing balance	$2,500
Unexpired interest free purchases	$1,000
Unexpired buy now pay later purchases	$800

The calculation would be

a) Total unexpired interest free promotions ($1,000) x 3% = $30 plus
b) Closing balance less any unexpired promotions which is $2,500 - ($1,000 + $800)

Payment required (by the due date on the statement listing the purchases) to receive up to 55 days interest free = $730

What is Visa payWave?

Visa payWave is a new method of payment - the latest evolution in Visa payments.

Featuring a distinctive contactless mark your Gem Visa card has a tiny antenna embedded into the chip, which securely transmits payment instructions to and from payWave enabled terminals.

What are the benefits?

Your Gem Visa payWave enabled card is a quicker and more convenient way to pay:

• Avoid the queues and be on your way faster

• It's more convenient - you no longer need to worry about carrying around pockets of cash.

• The card doesn't leave your hand at checkout when making a contactless purchase.

• You don't have to sign anything or enter a PIN for purchases under $100.

How do I use Gem Visa payWave?

1. Look for the payWave symbol in-store

2. When prompted, hold the card near the card reader

3. Four green lights will appear in less than a second

4. You're done and can be on your way

Is there a limit on the value of goods I can purchase with Gem Visa payWave?

You can use your Gem Visa payWave-enabled card for any amount in Australia. For purchases under $100 you can wave and go. For purchases over $100 a PIN or signature is required.

How do I know that my transaction information is secure?

The Visa payWave platform is based on secure EMV chip technology, which provides both data protection and transaction security via the use of keys, and the latest encryption technology. Transactions are processed through the same, reliable payment network as magnetic strip transactions.

Is this technology as secure as traditional Visa cards?

Yes, Visa payWave cards are just as secure as any other Visa chip card and carry the same multiple layers of security protection. In addition, with Visa payWave, you retain control of your card during the transaction, which reduces the risk of fraud.

Is there any chance payments can be taken twice from my account?

No, payWave terminals are designed to only make one transaction per card at a time. As a safeguard, each transaction must be complete or void before another one can take place.

Is there a money back guarantee should a fraudulent transaction occur?

Yes, if there's a fraudulent transaction on your Gem Visa credit card, you will not be held liable if you have not contributed to the loss and notified us promptly of the theft, loss or misuse and you’ve abided by the Conditions of Use.

Will I receive a receipt?

Yes, the retailer will ask if you require a receipt. If you don’t require a receipt, please tell the retailer.

Could I unknowingly have made a purchase if I walk past a reader?

No, the retailer must have first entered the amount for you to approve and then your card has to be waved within 4 centimetres of the card reader for more than half a second.

Do I need to select credit when I make a transaction?

No, with payWave the transaction is automatically routed through the credit button so there's no need to press any buttons.

Why should I choose a Gem Visa?

Gem Visa is the only credit card in Australia that offers 6 months interest free on any purchase over $250, plus access to long term interest free at over 9,000 stores and healthcare providers Australia wide.

What's the approval criteria for a Gem Visa?

Like most financial institutions, we work on a credit check system. We need to make sure we're identifying the right person, to prevent fraud. We take many things into consideration when considering an application. And, while we don't disclose the specific details of our criteria, if you're declined we'll let you know as soon as we can.

What will my credit limit be?

Credit limits vary from person to person. The information you supply in your application will help us determine your credit limit. If your application is approved, we'll then let you know your credit limit.

When can I expect to receive an answer on my application?

If you apply online, we can give an answer on your application within 60 seconds in most instances. If you apply in-store you'll also receive a rapid response instantly.

What is a chip card?

A chip card is a credit or debit card that uses an embedded security microchip to protect confidential data stored on your card. It sits on the front of your card, towards the left hand side, and is in the shape of a small gold square.

How does the chip provide better security?

The microchip on your card encrypts your account information in a more secure format. This enables an increased level of card protection, reducing the chances of your personal details being copied fraudulently. This coupled with our additional security features like Falcon™ monitoring, works to better protect your card.

FALCON™ FRAUD PROTECTION software is a product of Fair Isaac Corporation and is used under licence from Fair Trade Isaac Corporation. FALCON™ and FALCON™ FRAUD PROTECTION are trademarks owned by Fair Isaac Corporation and used with the permission of Fair Isaac Corporation

Will I have to use my PIN with my chip card?

In Australia, you currently have the choice of using your PIN or signing to authorise the transaction. In other countries, you may be required to enter your PIN. Please make sure you have one before leaving Australia.

You can select your own PIN by calling us on 1300 559 082.

What do I do if I notice unauthorised transactions on my account?

If you've noticed unauthorised transactions on your account, please call us immediately so we can investigate the issue. We strongly recommend that you contact us no later than the due date on your current statement to assist us with a prompt investigation.

We offer a money back guarantee, so if there's a fraudulent transaction on your Gem Visa card, you will not be held liable if you have not contributed to the loss and notified us promptly of the theft, loss or misuse. You also need to have abided by the Conditions of Use (COU).

What steps do you take to protect my account?

Your Gem Visa card and account are protected by the toughest possible card security measures – on the card itself, whenever you shop and when you access your account.

Gem Visa is protected by the Falcon™ fraud monitoring system 24/7. The Falcon system detects unusual transactions on your account and we will contact you if we suspect fraudulent activity.

FALCON™ FRAUD PROTECTION software is a product of Fair Isaac Corporation and is used under licence from Fair Trade Isaac Corporation. FALCON™ and FALCON™ FRAUD PROTECTION are trademarks owned by Fair Isaac Corporation and used with the permission of Fair Isaac Corporation

What is Verified by Visa?

Verified by Visa verifies your purchases in real time, whenever you shop online. Verification helps to reduce credit card fraud and unauthorised credit card use.

It adds an extra layer of protection by helping to confirm your identity through either a security code or through security questions, during select online transactions. Verified by Visa lets you enjoy extra security and peace of mind when shopping online at participating merchants.

How does Verified by Visa work?

Verified by Visa performs a real-time risk assessment on transactions made at participating online retailers. In most cases you won't notice any change, however, on some transactions we may prompt you to enter a six-character security code, which will be sent to you instantly via SMS. This is to ensure that the transaction you are about to make is authorised by you.

How does Verified by Visa protect me?

When you correctly enter the security code (or answer the security questions) during an online purchase at a participating merchant, you confirm that you're the authorised cardholder and your purchase continues. If the security questions are answered incorrectly, the purchase won't go through. So even if someone knew your card number, they wouldn't be able to use your account at that merchant.

How will Verified by Visa impact my purchase?

Aside from the added protection that Verified by Visa provides, the only impact to your purchase will be that you'll need to enter the security code (or answers the security questions) when the authentication screen appears, then wait a few seconds while we confirm your identity.

Will I be able to purchase at merchants that accept Visa but do not participate in the Verified by Visa service?

Yes, but you'll not be asked to enter a security code (or answer security questions) at these merchants. To complete your purchase, simply follow the traditional checkout process.

Why am I seeing this Verified by Visa screen?

This authentication screen may appear when you're shopping online at participating Verified by Visa merchants. Once you've confirmed your identity by correctly entering either the security code (or answering the security questions) that are on the page, you'll be able to continue with your purchase.

What happens if I don't receive a security code?

If you don't receive a security code, this may mean that the mobile number that is registered to your account is not up to date. You can still proceed with your transaction by selecting the button "I didn't receive a code" which will direct you to the security questions that are personal to you and your account. Once you have answered the security questions correctly you'll be able to continue with your purchase.

How do I update my mobile number?

To update your mobile number please visit the Online Service Centre or contact Customer Solutions on 1300 630 977.

Can I complete this transaction without confirming my identity?

If you are unable to confirm your identity through either the security code that is sent to your mobile or the security questions, unfortunately you will not be able to proceed with your purchase at this time.