We hope your Hardship Care arrangement has helped you navigate a challenging time. As it comes to an end, things will start returning to normal. Here’s what you need to know about repayments, fees, and spending with your Gem by Latitude credit card.
Repayments return to normal
Once your Hardship Care arrangement ends:
- Credit Cards: Your repayments will revert back to the minimum monthly payment, and your interest rate will reset to the standard rate for your product.
- Personal Loans & Car Loans: Your repayments will return to the schedule outlined at the start of your arrangement, and your interest rate will revert to the rate in your credit contract that was sent to you when your Hardship Care was approved.
- Fees & Charges: All standard fees that apply to your product(s) will resume.
If you’re worried about resuming full repayments or need further support:
| Call: 0800 433 033 (Mon - Fri, 8.30am - 5pm NZST) | |
| Email: nzhardshipcare@latitudefinancial.com |
We may ask for more information about your income, expenses, and current situation to offer you the right solution that suites your needs.
Spending blocks on your credit cards
During your Hardship Care arrangement, we placed a spending block on your Gem by Latitude credit cards to help you focus on repayments.
This block isn’t automatically lifted when your arrangement ends. We’ll assess your financial situation to make sure you’re in a stable position before reactivating your ability to spend.
When can you spend on your Gem by Latitude credit card again?
To be eligible to have the spending block lifted, you’ll need to:
- Ensure all your accounts are up to date including your Gem by Latitude and other external accounts, with no active Hardship Care arrangements.
- Make at least six consecutive on-time minimum monthly repayments after your Hardship Care arrangement ends.
- Contact us once you've made six consecutive on-time payments. Give us a call on 0800 433 033 to discuss whether you’re eligible to spend again. If you are, we’ll lift the block, and you’re good to go! If not, we’ll let you know why and discuss other options.
| Important: Only the primary cardholder can request to lift the spending block - authorised representatives and secondary cardholders cannot make this request. |