The Kogan Money Credit Card offers no annual fee and perks when you’re shopping at Kogan.com. As a new cardholder, you can save with 9.99% p.a. interest on purchases for 18 months and if you have a different credit card that you want to pay off, you can also get 0% p.a. interest on balance transfers for 18 months (with a one-time 1% balance transfer fee) when you apply for this card through Finder. But if you’re still paying off your balance transfer after the introductory period, a higher interest rate of 22.74% p.a. applies. If you need to combine several debts to a balance transfer and you frequently shop at Kogan, this card offers a useful combination of perks and benefits.
Kogan Money Credit Card – Exclusive Offer
- Balance transfer rate for 18 months with 1% balance transfer fee
- 0% p.a.
- Purchase rate for the first 18 months (reverts to 21.99%)
- 9.99% p.a.
- Reward point per $ spent
- 1
- Annual fee
- $0 p.a.
Our verdict
Offers 0% on balance transfers (with a 1% BT fee) and 9.99% on purchases, both for 18 months.
Pros
-
No annual fee
-
0% p.a. for 18 months on balance transfers
-
Low 9.99% p.a. purchase rate for 18 months
-
Uncapped reward points
-
Complimentary Kogan First membership
Cons
-
Balance transfer offer has a 1% BT fee
-
A high 22.74% p.a. interest rate on balance transfers after the introductory period
-
A 21.99% p.a. interest rate on purchases applies at the end of the introductory period
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No interest-free days if you have a balance transfer
Details
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 |
Fees
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 |
Amy Finder
Editor
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Angus Kidman Finder
September 15, 2024
Hi Jeigh, Yes, you need to apply through Finder to get the 18 months offer – you can start your application with the ‘Go to site’ button at the top of this review.
Ta Ta
September 11, 2024
Is this card available for the self employed?
Angus Kidman Finder
September 13, 2024
Hi, yes, self-employed folks can apply for this card, provided they meet the minimum income requirement of $35,000. You will be asked to provide evidence of your income, so have this ready before applying.
Manto
September 03, 2024
What does 1% balance transfer fee mean? does this mean every time I do a balance transfer will be charged 1% of the amount?
Sarah Megginson Finder
September 09, 2024
Hi Manto, this means you will pay a fee of 1% on the balance that you transfer. For instance, if you transfer $2,000 of debt, you’ll pay a $20 balance transfer fee. Hope this helps!
Mohan
April 06, 2024
Hi,
It’s been 2 weeks since I applied for this Kogan credit card. Still shows status as submitted.
May I know how long it takes before they decide?
Thanks
Sarah Megginson Finder
April 23, 2024
Hi Mohan,
According to Kogan, when you submit your application, they will tell you within 60 seconds whether you are:
– approved
– conditionally approved
– or your application needs further review.
Provided they have all your documents, they confirm that they will respond to you within 2 business days. Once you’ve submitted your online application, you’ll receive a confirmation email containing your Application Reference Number, and a link to check the status of your application online. If you don’t have this information, you can contact them directly for an update.
Best of luck!
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Sarah-Jayne
February 14, 2024
Can you transfer the debt from another kogan credit card to get the low interest rate
Sarah Megginson Finder
February 15, 2024
Hi Sarah-Jayde,
No, this offer is only eligible if you transfer a card from a different lender, so you won’t be able to transfer a debt from an existing Kogan card.
There are a number of balance transfer offers in the market if you wish to transfer a debt and pay 0% interest – here’s a few options on the market right now.
Hope this helps!
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Jeigh
September 14, 2024
Hi,
Is this promotion of 18months 0% interest on balance transfer still on offer? I went to the kogan money website and the offer is different. If I sign up through finder website, will I get this 18months 0% on balance transfer offer? Thank you