Offers 0% on balance transfers (with a 1% BT fee) and 9.99% on purchases, both for 18 months.
The Kogan Money Credit Card offers significant savings with its balance transfer promotion. Enjoy 0% p.a. on balance transfers for 18 months with a one-time 1% balance transfer fee. This offer allows you to transfer debt from personal loans, lines of credit, and store or credit cards from other Australian financial institutions. After the 18-month period, the balance transfer rate reverts to 22.74% p.a., so it's advisable to clear your balance during the promotional period.
Additionally, this card features a discounted 9.99% p.a. interest rate on purchases for the first 18 months, which then increases to 21.99% p.a.
Pros | Cons |
|---|---|
No annual fee | Balance transfer offer has a 1% BT fee |
0% p.a. for 18 months on balance transfers | A high 22.74% p.a. interest rate on balance transfers after the introductory period |
Low 9.99% p.a. purchase rate for 18 months | A 21.99% p.a. interest rate on purchases applies at the end of the introductory period |
Uncapped reward points | No interest-free days if you have a balance transfer |
Complimentary Kogan First membership |
The Kogan Money Credit Card has no annual fee and offers special benefits for shopping at Kogan.com. As a new cardholder, you can take advantage of a 9.99% p.a. interest rate on purchases for the first 18 months. Additionally, you can enjoy 0% p.a. on balance transfers for 18 months with a one-time 1% balance transfer fee if you apply through Finder. After the introductory period, any remaining balance transfer will be subject to a higher rate of 22.74% p.a. This card is ideal if you want to consolidate multiple debts and frequently shop at Kogan, providing both useful perks and financial benefits.
Details of Kogan Money Credit Card
Product Details
Product Name | Kogan Money Card – Exclusive Offer |
Balance transfer rate p.a. | 0% for 18 months with 1% balance transfer fee, then 22.74% |
Balance transfer limit | 80% of available limit |
Purchase rate p.a. | Purchase rate p.a. 9.99% for 18 months, then 21.99% |
Interest-free period | Up to 55 days on purchases |
Cash advance rate p.a. | 22.74% |
Min credit limit | $6,000 |
Card type | Visa |
Eligibility
Available to temporary residents | No |
Minimum income | $35,000 |
Rewards
Rewards program | Kogan Rewards Program |
Bonus points | N/A |
Rewards points per $ spent | 1 |
Rewards points cap | Uncapped |
Fee
Annual fee | Annual fee $0 |
Minimum monthly repayment | 2% of the closing balance or $25, whichever is greater |
Late payment fee | $30 |
Foreign currency conversion fee | Foreign currency conversion fee 3.4% |
Cash advance fee | 3.5% or $5, whichever is greater |
Overseas cash advance fee | $5 |
Additional cardholder fee | $0 |
Number of additional cardholders | 4 |
How to Apply
You can apply for the Kogan Money Credit Card online in around 10 minutes as long as you meet the eligibility requirements and have the following information.
Eligibility Criteria
Income: You need to earn a minimum of $35,000 per year and be either employed full-time or part-time, or self-employed.
Residency: This card is available only to Australian citizens and permanent residents.
Eligible Balance Transfer Debt: You can transfer balances from other credit cards, store cards, personal loans, and lines of credit issued in Australia. Transfers can be between $500 and up to 80% of your available credit limit on this card.
Credit History: A good credit score is required.
Age: Applicants must be at least 18 years old.
Required Documents
Personal Details: Provide your full name, contact information (including an Australian mobile number and valid email address), and details about any financial dependents.
Proof of Identification: You’ll need to provide at least one form of identification, such as an Australian passport or driver’s licence.
Income: Verify your employment status and total annual salary.
Finances: Include details about your expenses, liabilities, and assets.
Balance Transfer Details: If you’re transferring a balance, specify the amount you wish to transfer and provide details of the account(s) you’re transferring from.
This straightforward application process is designed to accommodate Australians searching for an effective credit card solution that manages existing debt efficiently while offering new purchasing power.
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