FAQ Category: Instalment Plans (Fixed Payment Options)

Does a Fixed Payment Option earn Reward Points?

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.

Can I cancel my Fixed Payment Option anytime?

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…

Can I pay more than my Monthly Instalment?

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…

When will I be charged my first monthly instalment?

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…

How does it appear on my statement?

An additional section is added to your statement called Fixed Payment Option Summary, which will outline the details of your Fixed Payment Option(s).