Frequently Asked Questions
You can add up to 4 additional cardholders to your Kogan Money credit card account. Each additional cardholder must be an Australian resident and 16 years or older.
You can add up to 2 additional cardholders during the application process. You can add subsequent additional cardholders (to a total of 4) afterwards through your Online Account > Manage Cards > Additional Card > Apply.
Please ensure that the additional cardholder is aware they are being added and they agree to be added to the account.
To be eligible to apply for a Kogan Money Credit Card, you must:
- be at least 18 years old
- be in permanent full time or part time employment, or be self employed
- earn at least $35,000 per year
- be an Australian permanent resident
- have an Australian residential address and mobile phone number
- have a valid email address
- have a good credit rating
You can apply online in a few easy steps, and it normally takes around 10 minutes.
You’ll need to have the following handy:
- Employment and income details
- Household expenses, such as rent and other living expenses
- Financial commitments such as home loan and credit card repayments
We’ll let you know if we need you to upload additional documents, such as pay slips and bank statements, to support your application.
It should take around 10 minutes to apply, if you have all of your personal information handy. If you need to, you can save your partially completed application form, and continue right where you left off at any time within 21 days.
Once you have submitted your application, you will receive a confirmation email to your primary email address that you registered, containing your application number and a link which you can use to check the status of your application online. If your application needs further assessment, we’ll also advise you when you can expect to hear from us.
If you are using a Mac
1. Open the image in ‘Preview’
2. Click on Tools > Adjust Size
3. Ensure ‘Scale proportionally’ is checked and then either select a smaller size from the ‘Fit into dropdown’ or enter a smaller Width or Height
4. Check the ‘Resulting size’ area to see if the image is now below 2.5MB
5. Click OK
If you are using Windows
1. Open the image in Microsoft Paint
2. Select Home > Resize
3. Ensure ‘Maintain aspect ratio’ is checked and then enter a smaller horizontal % and click OK
4. To save the new image, click File > Save
5. Go to Windows Explorer and check if the image is now below 2.5MB
Once you’ve submitted your online application, you’ll receive a confirmation email containing your Application Reference Number, and a link which you can use to check the status of your application online.
We’ll let you know if we need you to upload additional documents, such as pay slips and bank statements, to support your application. Applicants may need to supply ONE document from each of the address and residency categories.
•Current Driver’s licence (copy of front and back)
•A utility bill in your name, with your current address (under 90 days old)
•A current year council rate notice in your name, with your current address
•A bank statement with your current address (under 30 days old)
•A Tenancy Agreement, under 3 months old (prepared by a real estate agent, and not handwritten)
•A Welcome letter from an Energy or Water Company (under 90 days old, confirming your name, address and account number)
•A Proof of Age card (NSW, SA, NT and TAS only)
•Medicare card (Interim or Reciprocal Health Care Agreement Medicare Cards aren’t accepted)
•Australian Permanent Residency
•Current Australian Defence Force photo ID
Applicants may also need to supply ONE document from the relevant income/employment category below based on employment status.
•Most recent computerised pay slip, no more than 45 days old
•Bank statement (in your name) from the last 3 months showing your regular income
•Employment contract, signed by your employer (no more than 60 days old)
•A letter from your employer confirming your current employment, length of employment and gross income details (should be signed by your employer and be less than 30 days old)
•Your most recent Individual Tax Return (less than 15 months old)
•Your most recent PAYE Payment Summary (less than 15 months old)
•All pay slips from the last 2 months
•Employment contract, signed by your employer (no more than 60 days old)
•A letter from your employer confirming your current employment, length of employment and income details (should be signed by your employer and be less than 30 days old)
•Your most recent Individual Tax Return (less than 15 months old)
•Your most recent PAYE Payment Summary (less than 15 months old)
•All pay slips in the last 2 months
•Your most recent Individual Tax Return (less than 15 months old)
•Your most recent PAYE Payment Summary (less than 15 months old)
•Two most recent years Individual or Company Tax Returns
•Two years Business/Company Profit & Loss Statements
•A bank statement from the last 3 months showing regular Centrelink payments
•An annual superannuation statement showing your pension amount
•A letter from your superannuation fund/s confirming the amount you have invested and your likely pension amount
•A letter from Centrelink showing your Permanent Government Pension amount
If you have documents showing other income this could also support your application. For example:
•Rental property income
We will let you know during the application process what documents you need to upload depending on the selections you have made. Please note that we may need to contact your employer and/or your accountant to confirm your income and employment details. Please let them know in advance so that we can finalise your application.
The Kogan Money Credit Cards Terms and Conditions can be found here.
Step 1: Let us know
Tell us about your concern and allow us the opportunity to assist you in resolving any concerns you may have. To expedite the resolution of your complaint we suggest you provide as much detail as you can such as dates, times, key events.
Phone: 1300 415 445 or +612 8288 2061 if outside Australia
Step 2: Escalate your complaint
The first thing to do is contact us regarding your concerns. We will try to resolve your complaint to your satisfaction and if not, you can escalate it to a manager.
Phone: 1300 350 525 or+612 8288 2062 if outside Australia
Mail: Customer Relations Unit, GPO Box 204, Sydney NSW 2001
Step 3: Seek an Independent Review
If you feel the dispute resolution process was not fair, you remain unhappy or your complaint is not resolved within the appropriate timeframes you may seek further assistance.
The Customer Advocate
We have appointed an impartial Customer Advocate to assist in reaching fair outcomes during the complaint process to make it easier for customers when things go wrong.
Mail: Customer Advocate,
GPO Box 204, Sydney NSW 2000
Australian Financial Complaints Authority (AFCA)
AFCA offers an independent dispute resolution process to individual customers who have been through the banks complaints process.
Phone: 1800 931 678 (free call) or Fax: 03 9613 6399
Mail: Australian Financial Complaints Authority (AFCA), GPO Box 3, Melbourne VIC 3001
Where possible we will try to resolve your complaint on the spot, however, depending on the nature of your complaint we may need more time to work through it with you:
If we are not able to resolve your complaint within 4 days we will let you know by email and will continue to keep you updated on the progress.
If your complaint is not resolved within 21 days we will write to you to provide you with an update and an explanation for the delay.
Under exceptional circumstances it may take up to or more than 45 days to resolve your complaint. If this happens we will write to you to provide a further update.
We take into consideration any timeframes for responding to complaints or disputes as set out in relevant legislation, regulatory guidelines or industry code of conduct.
Provide as much detail as you can regarding your complaint including dates, times and key events
Be specific and provide relevant supporting documentation
Tell us what you believe to be a fair resolution to the concerns you raise.
We review each complaint on a case by case basis, taking into account the facts that resulted in the complaint, contractual obligations, any applicable laws and ASIC guidance and regulations that apply to credit products.
In making a decision on a complaint we will consider the following:
- What is fair and reasonable
- Code of Banking Practice
- National Consumer Credit Protection Act (NCCP)
- Other applicable legislation
- Relevant industry guidelines
In the event that you are not happy with the handling of your privacy complaint you can seek external assistance through the Office of the Australian Information Commissioner (OAIC). The OAIC is an independent government organisation which can assist you with privacy and information handling complaints and enquiries.
Phone: 1300 363 992
Mail: Office of the Australian Information Commissioner (OAIC) , GPO Box 5218, Sydney NSW 2001
If despite our best efforts, you believe that we have not dealt with your complaint fairly, or you believe the outcome to be unfair you can seek an independent review. We ask that you provide us with the opportunity to resolve your complaint (outlined in step 1 and 2 of the Complaints Section) before seeking an external review:
Citibank Customer Advocate – firstname.lastname@example.org
Australian Financial Complaints Authority – www.afca.org.au
Office of the Australian Information Commissioner – www.oaic.gov.au
We record the necessary details of your complaint and develop a report for senior leaders who drive initiatives to address customer feedback. Of course, your privacy is respected and the specific details of your complaint will remain confidential.
The report provides the following information:
- A description of your complaint
- The products and or services you raise as a concern
- How long it takes us to resolve your complaint
- Actions taken to resolve your complaint
What happens when someone who holds a Kogan Money Credit Card passes away?
The loss of a family member or friend is a difficult time in your life and we are here to help.
Once we are notified that a customer has passed away, we will send a letter outlining the additional information we need to receive, which will include information on who can act as the “eligible representative” and the supporting documents that we will need to receive from them. At the same time, we will also place a hold on the card(s) on the deceased customer’s account, which means that any Additional Cardholder(s) on the Account will no longer be able to spend on their cards.
After we receive the required documents, we will work with the eligible representative to finalise the Estate.
If you need to contact us about the loss of a loved one you can do this over the phone or through mail. We are here to support you.
- Within Australia: 1300 415 445
- Calling from Overseas: +61 2 8288 2061
Attn: Estate Management
GPO Box 40
Sydney NSW 2001
You do not need to be acting in an official capacity, on behalf of the Estate, to provide us with initial notification of the deceased customer’s passing.
What happens once you notify us?
Once we have been advised of a customer’s passing, we’ll place a hold on the Account(s) held by the deceased customer, and no further purchases will be able to be made. If there are any Additional Cardholders on the account their card will also stop working.
We will also send a letter outlining the additional information we need to receive, which will include information on who can act as the eligible representative, and the supporting documents that we will need to receive from them. This letter will be sent either to the legal address of the deceased or, if requested by the person who provided us with the initial notification, to another address of their choosing.
Only the “eligible representative” will be able to access information on the Account, after we have received and verified the required documentation. The following people can act as the eligible representative:
– Next of Kin
– Solicitors acting on behalf of the Deceased Estate
– Public Trustees acting on behalf of the Deceased Estate
The eligible representative can request a list of all the direct debits and recurring payments on the account, over the past 13 months, by calling our Customer Support Team on 1300 415 445. We can also assist with cancelling direct debit transactions.
Information on what is needed to finalise the Estate are included in the letter that we will send once we are initially notified of the deceased customer’s passing.
The “eligible representative” will need to provide a copy of at least one of the documents listed below, as well as the Individual Identification Form. These documents include:
- Death Certificate
- Solicitor’s or Coroner’s Letter
- Grant of Probate
- Letters of Administration
- A certificate issued by the public trustee or Trustee Company authorised to do so.
Attn: Estate Management
GPO Box 40
Sydney NSW 2001
Once we have received an official notification of death, we will reverse any interest and fees that may have been charged from the date of death.
If a balance is owed, we will send the “eligible representative” a letter confirming the balance as at the date of death, along with the most recent statement which includes payment details. If no balance is owed, we will simply close the account and send a letter confirming this. If the account is in credit, we will send a bank cheque to the executor of the estate along with a letter explaining why they are receiving the cheque.
The Estate is responsible for the debts of the deceased customer.
We are able to customise solutions based on your individual circumstances. We may be able to provide you:
- Payment variations
- Reduced payment plans
- Reduced settlements
The first step is for you to provide us with detailed information about your current financial situation. You can do this by filling out a Personal Financial Summary form and sending it with supporting documentation to us at this address:
PO Box 3453
Sydney NSW 2001
Or email it to email@example.com by attaching it in a pdf or image format.
You may call our Debt Management Solutions team on 1800 133 397 from 9am-5pm, Monday – Friday (AEST) except public holidays, and we can help you complete the Personal Financial Summary (PFS) form over the phone and advise you what solutions we can offer and any next steps you may need to take. The sooner we have your completed PFS form the sooner we can assess your needs. In order to provide assistance, we may also require one primary and one secondary supporting document. The types of documents we may require are set out below.
If you have difficulty with providing supporting documents, you can discuss this with our Debt Management Solutions team and we may be able to provide alternate solutions.
|Reason for Hardship||Primary Documents|
|Medical Conditions||Doctors Certificate or|
Medical report or
Centrelink Disability Statement or
Work Cover Certificate or
Hospital Report or
Copy of medical related bill(s)
|Reduction In Income||Current payslip or|
Payslip prior to income reduction or
Centrelink Statement or
Current year and prior years tax return or
Letter from Accountant confirming income reduction
|Unemployment / Redundancy||Centrelink Statement or|
Separation certificate from employer
|Divorce / Separation||Court documents supporting divorce or|
Letter from solicitor
|Property Settlement / Pending funds||Copy of Contract of Sale or|
Letter from Real Estate verifying property has sold / is on the market or
Copy of property advertisement
|Incarceration||Letter from solicitor confirming incarceration, and length of incarceration or|
Police or Court report confirming incarceration or
Letter from a Justice of Peace confirming incarceration, and length of incarceration
|Unexpected Expenses / Overcommitment||Statements from other debtors reflecting balance and Min due or|
Copy of unexpected bill(s) or
Copy of current payslip
|Consolidation / Refinance||Copy of finance approval or pre-approval letter|
|Loss of Rental Income||Letter from Real estate agent confirming recent rent income loss|
|Death in Family||Copy of expenses incurred (e.g. funeral costs)|
|Natural Disaster||No documents required|
Please provide any other additional documentation you feel supports your application for financial hardship. We may ask for further supporting documentation depending on your circumstances.
After we receive your application, our Debt Management Solutions team will assess your application to determine eligibility and solutions, and will contact you to discuss the next steps.
During this time, if your circumstances change or you want to discuss your application you can contact our Debt Management Solutions team on 1800 133 397 from 9am-5pm, Monday – Friday (AEST) except public holidays.
Managing your account
Yes, it does. Visa payWave is a globally accepted contactless payment technology that makes making payments easy and convenient. Using Visa payWave means that you don’t have to enter a PIN or sign for transactions under $100. Instead, you simply hold your card against the contactless reader at the point of purchase to pay.
You can withdraw cash from an ATM/EFTPOS machine using your Kogan Money Credit Card and your Card PIN.
You can withdraw up to your available cash limit however there is a maximum of $1000 cash per day.
You can also withdraw cash at any Bank@Post Australia Post outlet with your Kogan Money Credit Card and your Card PIN and also over the counter at any bank in the world that displays the VISA symbol. You’ll also need some photo ID.
It’s important to remember that cash advance fees, and other fees and charges, may apply when withdrawing cash from your Kogan Money Credit Card Account. See the fees and charges that apply to your card.
You’ll enjoy up to 55 days interest free on all purchases, providing you repay the full balance on your Card each month, excluding any Fixed Payment Option balance which isn’t due for payment by that payment due date. Whilst you have a Balance Transfer, you will not be eligible for any interest free days. Interest free periods also don’t apply to Cash Withdrawals or Bank Cheques. These transactions will incur interest from the date the transaction’s made (regardless of whether the Account is repaid in full each month). You’ll be charged interest on retail purchases if the statement’s full closing balance is not repaid by the due date.
A Balance Transfer involves transferring the balance(s) on your other credit cards or loans to a Kogan Money Credit Card. The balances transferred will receive a promotional interest rate for a set period of time and can be a great way to save on interest charges.
Once your balance(s) has been transferred, you will need to close the other credit facilities you transferred balances from, as this will not occur automatically.
A Balance Transfer lets you:
•Use up to 80% of your Kogan Money Credit Card limit to transfer balances from other credit cards or loans, so long as you are transferring balances of $500 or more
•Take advantage of a lower interest rate for the period of the Balance Transfer
Whilst taking advantage of the above benefits, you should remember that no interest free days are applicable to Retail Purchases when you have a Balance Transfer. This means that any purchases you make will be charged interest at the APR for Retail Purchases from the date of the transaction.
You may withdraw your consent to receive electronic communications in regards to your Kogan Money Credit Card account. However, if you do, we may close your account after giving you 30 days prior notice. If you wish to proceed, you can contact us at any time. For contact options available, please visit the Contact Us page.
Online and Mobile Banking
You can activate your Kogan Money credit card through the Kogan Money Credit Cards Mobile App or online at cards.koganmoney.com.au
Within the Kogan Money Credit Cards Mobile App, tap on the card image and the activation page will be displayed. Please enter the CVV number on the back of the card.
Within your online account, select your card, then ‘Manage Card’, then ‘Activate’. Follow the prompts to enter the CVV number on the back of the card. A One-Time PIN code will be required. To get a One-Time PIN, you can request for it to be sent to you via SMS, or alternatively, you can generate it yourself through your Kogan Money Credit Card Mobile App by clicking on ‘Mobile Token’ on the login screen. Once you enter this code, your card will be activated and a notification will be sent to you to confirm this. At this point you will be prompted to create a Card PIN.
You can also manage your Card PIN by going to Settings and clicking on your card.
You can manage your credit card account through the Kogan Money Credit Cards Mobile App on your mobile device as well as online at cards.koganmoney.com.au
Both of these platforms are fast and convenient and allow you to perform functions such as:
- Card activation
- Review transaction history
- Review and download statements
- Make BPAY payments
- Set up alerts
- And more
You can manage your Kogan Money credit card online at cards.koganmoney.com.au
If you are a first time user, you will need to register yourself and create a username and password.
Note, if you have already registered on the Kogan Money Credit Cards Mobile App, then you do not need to register again and can use your username and password from the app to access your online account.
You can log in to the Kogan Money Credit Cards Mobile App using the username and password that you created during registration on Kogan Money Credit Cards Online or registration in the app itself. If your device supports biometric login, you can enable it via the ‘Settings’ section in the Kogan Money Credit Cards Mobile App
Go to ‘Forgot Password’ on the Kogan Money Credit Cards Mobile App or the Kogan Money Credit Cards Online login screen and follow the prompts.
You can make payments from another financial institution through BPAY using biller code 266650 followed by your 16-digit card number as your customer reference number.
You can also set up a Direct Debit from another account to make periodic payments to your Kogan Money credit card account. You can set this up through your online account at cards.koganmoney.com.au. The benefit of this is that your repayments will automatically be made on the statement Payment Due Date from your nominated bank account – avoiding the hassle of remembering to make repayments each month, and helping you prevent unwanted late fees. Please ensure there are sufficient funds in the account on the statement Payment Due Date to avoid any subsequent fees or charges.
You can use BPAY to pay bills using your Kogan Money credit card where you have been provided with both a BPAY biller code and customer reference number by the merchant that you need to pay.
Direct Debit Auto Pay helps you make your Kogan Money credit card repayments automatically each month. Your repayments will be automatically deducted each month from the bank account of your choice (must be in your name) so you’ll never have to worry about them. To do this, you need to set up a recurring payment in your online account at cards.koganmoney.com.au
Login, then click ‘My payments’, then ‘Pay my account’. Enter the details of the account in your name from which you wish to draw funds to pay your Kogan Money credit card account, and select the amount (Minimum Payment Due or Closing Balance) that you would like to be paid each month on the Payment Due Date on your statement. Please ensure there are sufficient funds in the account on the statement Payment Due Date to avoid any subsequent fees or charges.
Your Minimum Payment Due is (rounded up to the nearest dollar):
1. the Card Balance if it is less than $30; or
2. the greater of:
- $30; or
- 2.00% of the Card Balance; or
- the sum of 1.00% of the Card Balance, Late Payment Fee (if any) and interest charged for that month, plus any Monthly Instalment for that month.
You can find the BPAY details on your statement.
The Kogan Money Credit Card Biller Code is 266650 and your 16-digit Card number is your Customer Reference number.
You can see your Rewards Points balance on your statement, in your online account at cards.koganmoney.com.au and in the Kogan Money Credit Cards Mobile App under ‘Rewards’.
If you would like to claim for missing Rewards Points please chat with us via your Kogan Money Credit Cards Mobile App or visit kogan.com/au/contact-us for the contact options available.
Earn up to 2 rewards points per whole Australian dollar spent on your eligible purchases at Kogan.com and 1 rewards point per whole Australian dollar on your eligible everyday spend, uncapped.
You can redeem your Rewards Points in a couple of ways:
- You may use Your Rewards Points to pay for certain selected transactions that We present to You via SMS, Kogan Money Credit Cards Online and the Kogan Money Credit Cards Mobile App.
- You can use your Rewards Points to make eligible purchases at Kogan.com For more information refer to the Kogan Money Credit Cards Rewards Terms and Conditions at koganmoney.com.au/credit-cards/important-information.
You can earn 2 rewards points for each whole Australian Dollar spent on Kogan Exclusive Brands at Kogan.com. For a list of Kogan Exclusive Brands please visit kogan.com/au/exclusive-brands/.
For more information on the rewards points earn rates refer to the Kogan Money Credit Cards Rewards Terms and Conditions at koganmoney.com.au/credit-cards/important-information.
No, you are unable to transfer Reward Points to a Frequent Flyer program, You may redeem Rewards Points for eligible purchases on Kogan.com using Pay with Points or for certain eligible transactions that we present to you via SMS, Kogan Money Credit Cards Online or the Kogan Money Credit Cards Mobile App.
Rewards Points are awarded in respect of Eligible Transactions as set out below. The number of Rewards Points awarded is calculated by reference to the Australian Dollar amount of the Eligible Transaction.
i. 2 Rewards Points for each whole Australian Dollar spent on Kogan Exclusive Brands.
ii. 1 Rewards Point for each whole Australian Dollar, for all other Eligible Transactions (including for each whole Australian Dollar spent on Kogan.com for brands that are not Kogan Exclusive Brands).
See the Kogan Money Credit Card Rewards Program Terms and Conditions at koganmoney.com.au/creditcards/important-information for full details on what is deemed an Eligible Transaction.
No, rewards points can not be transferred to other individuals.
Yes. You can make a partial Rewards Points redemption, the remaining balance will be charged to Your chosen payment option by Kogan.com.
There is no cap as to how many Rewards Points can be earned.
Here are some tips to protect yourself online:
- Make sure you have an up-to-date operating system, browser, firewall, email filter, anti-virus software and spyware filter.
- Avoid accessing Kogan Money Online in a public place or using a shared computer, if at all possible.
- Always type cards.koganmoney.com.au into your browser when accessing your online account.
- Keep your Kogan Money Credit Card passcode and password secure and never disclose them to anyone.
- Always click ‘Log out’ instead of closing your browser when you’re done.
- Review your Kogan Money Credit Card statements as soon as you receive them and report to us any suspicious transactions immediately.
As a rule, you should disregard any emails that:
- Request personal information, including your name, address, PIN or account details.
- Contain misspelled words either in the email itself or a linked website as this may signal a potential scam.
- Seem too good to be true and are not from a trusted source.
There are a number of ways we protect your Kogan Money Credit Card account so you can rest assured that your money is in safe hands:
- We’ll contact you if we detect any irregular transactions on your Account.
- When you make purchases online, Verified by Visa may provide you with an SMS Code to your mobile device only to complete the transaction at the checkout.
- We also ask you to enter a password (One Time PIN) when you access features on Kogan Money Credit Cards Online that are considered high risk such as activating your card, choosing your PIN, viewing statements and notices, locking your card or reporting it lost or stolen. This provides an extra layer of security to help protect your account from unauthorised access.
There are a number of ways we protect your Kogan Money Credit Card account, so you can rest assured that your financial data is in safe hands:
- When you access your accounts and perform transactions in Kogan Money Credit Cards Online, your information is protected by 128-bit SSL encryption.
- When you perform sensitive online transactions, such as money transfers, we will sometimes require a One Time PIN code which is sent only to your mobile phone.
- Every time you sign on to Kogan Money Credit Cards Online, we display the date and time of your last visit so you’ll know if there has been unauthorised account access.
- Account alerts are also sent to you when you make a change to your account to ensure that this is genuine. These alerts can be managed in your online account.
- Session Timeout if you have signed on but are not using your online account for several minutes.
A balance transfer lets you:
- Use up to 80% of your Kogan Money credit card limit to pay down your balances on other credit cards or loans.
- If applicable, lets you take advantage of a lower interest rate for the promotional period of the balance transfer.
- Whilst taking advantage of the above points, you should remember that no interest free days are applicable to retail purchases when you have a balance transfer. This means any additional purchases will be charged interest at the Retail Purchase Rate. Also, when the promotional period ends, the balance transfer balance remaining at that point in time will revert to the Cash Advance Rate.
Once a balance transfer is processed on your Kogan Money credit card, the interest charges will be as follows:
- during the promotional period, balances transferred across will be charged an interest rate as per the balance transfer offer you accepted;
- there will be no interest free days, so this means all purchases will be charged interest at the applicable Retail Purchase Rate; and
- any transferred balances that remain outstanding at the end of the promotional period, will revert to the Cash Advance Rate.
- For example, if your balance transfer rate is 0 % p.a. for 12 months, during the 12 months all additional purchases will be charged interest at the Retail Purchase Rate and at the end of the 12 months, any outstanding balances from the balance transfer will revert to the Cash Advance Rate. The additional purchases made throughout the promotional period will remain at the applicable Retail Purchase Rate.
What interest will be charged on any outstanding balance post the expiry of the balance transfer offer?
Any transferred balances that remain outstanding at the end of the promotional period will revert to the Cash Advance Rate stated on your Kogan Money credit card monthly statement.
On Kogan Money Credit Cards, the minimum amount you can transfer is $500 and your total balance transfer may not exceed 80% of your credit limit the day the Balance Transfer is completed.
When you apply for a Kogan Money credit card, you have the option to request balance transfer(s) within the application form. You can also chat with us through your Kogan Money Credit Cards Mobile App to discuss options should you wish to transfer a balance from another financial institution.
To get the most out of your Balance Transfer it is important that you follow the below recommendations:
- Make additional payments (more than the Minimum Payment Due) throughout the promotional period to reduce the amount you owe
- Ensure you pay the outstanding balance prior to the end of the Balance Transfer offer. Any outstanding balances that were transferred will revert to the Annual Percentage Rate for Cash Advances at the end of the promotional period.
- Track any additional spending on the credit card, which will not qualify for interest free days while you have a Balance Transfer
- Close other credit cards and loan accounts once the balances have been transferred to your Kogan Money Credit Card.
Some of the benefits from closing your other credit cards and loans are:
- It will help reduce the total amount of annual fees you pay
- Simplifying your finances and decreasing the number of cards you hold
- Reducing your ability to accrue additional debt, by decreasing the available credit options
- Potentially increasing your credit rating by reducing the amount of unsecured debt recorded against your credit bureau record
If I have Balance Transfers at different rates, which one does my credit card payments get applied to first?
We will apply payments firstly to:
- Monthly Instalment(s) for Fixed Payment Options due in the current Statement Period (if applicable); and then
- to the portion of the Closing Balance of your most recent statement which attracts the highest interest rate; and then
- to the portion of your balance which attracts the next highest interest rate;
- and so on.
Payments are then applied to balances that have not yet been billed on your statement in a similar fashion.
A Balance Transfer fee can be applicable on some promotional offers. This fee is calculated as a percentage of the total amount being transferred and is added to the Balance Transfer amount.
For example, a Balance Transfer amount of $10,000 with a 2% Balance Transfer Fee, will be charged a Balance Transfer fee of $200 and results in the outstanding balance of your Kogan Money credit card to increase by $10,200.
At the end of the Balance Transfer period, the interest rate on any outstanding transferred balance and the Balance Transfer fee will revert to the applicable Annual Percentage Rate for Cash Advances.
You can request to transfer account balances from other financial institutions and stores, such as:
– Other credit cards
– Personal loans
– Other types of unsecured credit
The balances being transferred must be in the name of the Primary Accountholder of the Kogan Money credit card.
You cannot include the following in a Balance Transfer:
- Account balances from financial institutions/stores outside Australia
- Amounts greater than your available credit limit and/or greater than 80% of the credit limit of your Kogan Money credit card
You can request a transfer for amounts between $500 and 80% of the available Credit Limit on your Kogan Money credit card. For example, if you are approved for a $10,000 credit limit, you can apply to Balance Transfer up to $8,000. Your Credit Limit is subject to our credit criteria.
A minimum of $500 applies per Balance Transfer request. You can transfer as much of the balance from your other credit card, store card, personal loan or lines of credit as you like, provided the amount is no more than 80% of the credit limit on your Kogan Money credit card. For example, if you are approved for a $10,000 credit limit, you can Balance Transfer $8,000.
Balance Transfers can only be processed up to 80% of your total Credit Limit. For existing Accounts, if a Balance Transfer request would result in exceeding your Credit Limit on the day it is processed, we will inform you so you can change your initial amount requested.
Balance Transfers do not collect Rewards Points.
How long will a Balance Transfer take to process?
Balance Transfers can take up to 10 business days to process and you should allow additional time for any cheques to be received at the other financial institution.
You can monitor your account through Kogan Money Credit Cards Online or the Kogan Money Credit Cards Mobile App to check if the balance transfer has been processed.
While you have an active balance transfer on your account, interest-free days do not apply on purchases. Once your balance transfer is paid off in full, interest-free days will apply on purchases in line with the Kogan Money Credit Cards Terms and Conditions.
Balance transfers can help:
- Save you money on interest, if you are eligible for a promotional balance transfer rate
- Reduce the annual fees you pay, if you consolidate multiple credit cards balances in one and close other cards
- Combine multiple monthly payments into one, if you do a Balance transfer from multiple credit cards or personal loan products.
But you should remember, that they can’t:
- Pay your debt faster; it’s up to you to pay off your credit card by repaying more than just the minimum amount every month
- Eliminate all annual fees, as you may still be required to pay for the annual fee of the credit card you wish to bring all the balances to
- Eliminate all interest, as you may still be charged interest on purchases you make or if you don’t repay your account balance by the end of the promotional period
- Stop your monthly repayment obligations, as you will still be required to pay the minimum payment for the credit card you wish to make the balance transfer to
When your Kogan Credit Card application is approved, we’ll create you a Kogan.com account if you don’t already have one. The account will be created using the email address used in your Kogan Credit Card application. You will need to set your password once your account is created.
To set your password:
- Visit Kogan.com and click the Login Button in the top right corner
- Click the “Forgotten your Password” link
- Enter the email address that was used when you applied for your Kogan Credit Card
- Follow the prompts in your email to set your password
After you’ve set your password, click on the Card Rewards section of your account and begin to add your Kogan Credit Card details. At the bottom of the form, you’ll see a checkbox to activate your Kogan First Membership.
If you already have a Kogan.com account and the email address is the same as the one used on your Kogan Credit Card application, simply login to your account and navigate to the Card Rewards page to begin linking your card to your Account.
Once you’ve linked your account, you’ll be able to enjoy the benefits of your:
Instalment Plans (Fixed Payment Options)
A Fixed Payment Option allows you to make your repayments in monthly instalments at a fixed rate over a set term.
You can use a Fixed Payment Option in three ways:
- Receive cash from $500 up to your available credit limit. Repay in Monthly Instalments at fixed rate over a set term.
- Convert retail purchases from your current statement. A minimum conversion of $500 applies. Excludes fees and charges, Balance Transfers, Cash Advances and existing Fixed Payment Options.
- Convert an unbilled retail purchase of $50 or more.
The Fixed Payment Option uses part of your existing credit limit. As you pay off your Fixed Payment Option amount, the amount(s) you pay off will become available for you to use again as part of your credit limit.
The minimum cash amount you can request is $500.
Yes. You can have more than one Fixed Payment Option as long as the combined total is within your available credit limit.
We may charge a Fixed Payment Option fee and the details will be specified in the offer that we send you.
If you have received an offer via email, click on the ‘Apply Now’ or ‘Request Cash Now’ button and follow the prompts. Alternatively you can apply via My Offers in Kogan Money Credit Cards Online. If you do need to chat with us, we are available 8am-7pm AEST Monday to Sunday.
Your monthly installment repayment will appear on your statement and it is included in your minimum payment due amount each month.
An additional section is added to your statement called Fixed Payment Option Summary, which will outline the details of your Fixed Payment Option(s).
During the cycle in which the Fixed Payment Option is set up, you will be charged an initial interest charge on the main Fixed Payment Option balance. Subsequent cycles will have an instalment for each month of the term. Interest will be charged on Fixed Payment Option from when the Fixed Payment Option is created until it is cancelled or repaid in full.
The Monthly Instalment will be charged interest at the retail purchases rate from the day after the Payment Due Date. We may cancel any Fixed Payment Option, in which case, any outstanding balance of the Fixed Payment Option will revert to the:
- retail purchases rate for retail purchase conversion; and/or
- cash advance rate for cash conversion.
If you wish to reduce the balance of your Fixed Payment Option by more than your Monthly Instalment please get in touch with us through the Contact us page. Note that where the extra payment only partially pays off your Fixed Payment Option, your monthly instalment amount will reduce – the term does not change unless requested.
You can request to change your term. Simply get in touch with us through the Contact us page.
You can pay off your Fixed Payment Option at any time without penalty. Simply get in touch with us through the Contact us page.
Yes, you can request to cancel your FPO anytime. Starting that day when your FPO is cancelled, any Main FPO Balance will revert to the underlying balance type and the APR and interest calculation that relates to it. For example, if the FPO would have been a Cash Advance, interest will be calculated at the APR for Cash Advances, from the day of cancellation. If the FPO would have been a Retail Purchase, interest will be calculated at the APR for Retail Purchases, from the day of cancellation.
Cash accessed from your card/account with a Fixed Payment Option will not earn reward points. If your Kogan Money credit card is eligible to earn Rewards Points, your initial eligible purchase will earn Reward Points prior to conversion to the Fixed Payment Option. The conversion itself will not earn Rewards Points.
For the full terms and conditions of your Fixed Payment Option, please refer to the Kogan Money Credit Card Terms and Conditions and Other Important Information.
Kogan Money credit card statements will be sent to your primary email address, and will not be mailed to your residential address. So it is important that you always have a valid working email address as your primary email address. If at any point your email address changes, make sure you update it through your online account at cards.koganmoney.com.au. Go to ‘My Settings’ under your profile image.