The Kogan Money Credit Card offers no annual fee and perks when you’re shopping at Kogan.com. If you want to pay off an existing credit card, you can get 0% interest on balance transfers for 18 months with 1% balance transfer fee when you apply for this card through Finder by 31 January 2024. But if you’re still paying off your balance transfer after the introductory period, a higher interest rate of 21.74% 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.
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Kogan Money Credit Card – Balance Transfer Offer
Terms and conditions apply
- Balance transfer rate for 18 months with 1% balance transfer fee
- 0% p.a.
- Purchase rate
- 20.99% p.a.
- Reward point per $ spent
- 1
- Annual fee
- $0 p.a.
Our verdict
This card offers 0% interest on balance transfers for 18 months, with a 1% balance transfer fee.
Pros
-
No annual fee
-
0% p.a. on balance transfers for 18 months
-
Uncapped reward points
-
Complimentary Kogan First membership
Cons
-
Balance transfer offer has a 1% BT fee
-
High 21.74% p.a. interest rate for balance transfers after the introductory period
-
No interest-free days if you have a balance transfer
-
Purchase interest rate of 20.99% p.a. is relatively high
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 21.74% |
| Balance transfer limit | 80% of available limit |
| Purchase rate p.a. | 20.99% |
| Interest-free period | Up to 55 days on purchases |
| Cash advance rate p.a. | 21.74% |
| 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 | $0 |
| Minimum monthly repayment | 2% of the closing balance or $30, whichever is greater |
| Late payment fee | $30 |
| 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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Richard Whitten Finder
January 09, 2024
Hi Jess,
You may be able to transfer personal loan debt to a balance transfer credit card (but check with Kogan first) but not a home loan.
As for your second question, we are unable to give you personal advice on what is a good idea in terms of decisions about financial product. Sorry we can’t be more helpful.
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Jess
January 03, 2024
Hello,
If we have an outstanding home loan of, say, 60k, is it possible to transfer this loan onto the credit card and pay that off weekly?
Thank you.
Sarah Megginson Finder
January 04, 2024
Hi Jess, Technically this may be possible, if you withdraw the funds as a cash advance to pay off the loan. But you would pay interest of 20% plus, whereas on a home loan the interest rate is around 6%. Keep in mind that you are usually able to make extra payments on your home loan, so if your goal is to pay it off more quickly, you could make additional payments week to week to pay it off.
Hope this helps!
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Retiree eligibilty
December 27, 2023
The Kogan card eligibilty states that the card holder must have full or part time employment with an income of $35K or more. Does this mean that retirees are not eligible?
Sarah Megginson Finder
January 05, 2024
Hi there, if you have an income in retirement of $35,000 or more, then you should be eligible. You don’t need to be working to earn an income, but you do need to be able to demonstrate the ability to service the monthly repayments via an income stream.
Hope this helps!
KATRINA
November 20, 2023
i cant see anywhere if this card is protected by fraudulent use. eg if it was used by someone else other than myself
Amy Bradney-George Finder
November 21, 2023
Hi Katrina,
This card’s includes FRAUDSHIELD and Visa Zero Liability, which help protect you against fraudulent transactions. I hope this helps.
Ajay Raipathi
November 07, 2023
Hi Amy,
With regards to the credit card limit on the Kogan card, there is nothing mentioned about it in the details above with the exception that the minimum credit limit is $6000. Firstly is there a limit for this credit card? Secondly I have a credit card debt from my personal credit card, but I also have a small amount on Zip Pay and Zip Money. How exactly are the transfers done should we go ahead with this deal of applying for a Kogan Credit Card? Do we use a BSB and account number to transfer the funds across or are we paying off one credit card debt with another credit card which would mean a cash advance if I am not mistaken?
Many Thanks
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Amy Bradney-George Finder
November 15, 2023
Hi Ajay,
Kogan doesn’t list a maximum credit limit for this card but, as with any credit card, the actual credit limit is determined by your application and the providers lending criteria and assessment. It would be at least $6,000 with this card, as that is the absolute minimum limit for people who are approved.
In regards to balance transfers, you can request it as part of the application and would need to provide the BPAY biller code and customer reference number for the account (or accounts) you want to transfer a balance from. If your application and balance transfer are approved, then Kogan Money will move the balance to your new account. It is not treated as a cash advance, but after the introductory period, the balance transfer interest rate reverts to the card’s cash advance rate. Finder’s guide to balance transfer credit cards has more details on the process if you’re interested. I hope this helps.
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Jess
January 03, 2024
Hello,
Is it possible to transfer a personal home loan onto the credit card and pay it off weekly?
We also are starting our own home business but with only my husband and I employed, so is it a good idea to use this as a corporate card or just as personal card and use as both?
Thank you!
Thank you!
Jess
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