How to Apply for your Kogan Money Credit Card
The Kogan Money Credit Card offers an excellent combination of rewards, no annual fee, and an introductory 0% interest rate on purchases and balance transfers. It is tailored for individuals who frequently shop at Kogan.com or wish to maximize their everyday purchases with generous rewards.
Whether you’re shopping online or in-store, this card offers uncapped rewards on eligible purchases and provides a variety of features designed to give you more for your money.
One of the most enticing features is the $250 Kogan.com credit, which is awarded when you spend $3,000 on eligible purchases within the first three months of approval. The card also comes with a 0% p.a. interest rate on purchases and balance transfers for the first nine months.
With these combined benefits, the Kogan Money Credit Card is positioned as a powerful tool for both savings and rewards.
Benefits of the Kogan Money Credit Card
The Kogan Money Credit Card stands out for its range of benefits designed to enhance your shopping experience both at Kogan.com and elsewhere. Here’s an in-depth look at some of the key advantages:
Earn $250 Kogan.com Credit
New cardholders who spend $3,000 on eligible purchases within three months from the card’s approval date will earn a $250 Kogan.com credit.
This can be used for future purchases on Kogan.com, making it a valuable perk for frequent shoppers on the platform.
0% p.a. on Purchases and Balance Transfers
Enjoy an introductory 0% p.a. interest rate on purchases and balance transfers for the first nine months.
This allows you to make large purchases or consolidate your existing credit card debt without worrying about accumulating interest during this period.
After the promotional period, the balance transfer rate reverts to the cash advance rate, which is currently 22.74% p.a.
$0 Annual Fee
One of the most attractive aspects of this card is that it comes with no annual fee, which is a rare feature for a rewards credit card.
Cardholders can enjoy all the benefits without paying an ongoing fee, ensuring you can keep your rewards without losing value to fees.
Uncapped Rewards
The Kogan Money Credit Card allows you to earn uncapped rewards on your purchases:
- 2 Rewards Points per $1 spent on eligible purchases at Kogan.com.
- 1 Rewards Point per $1 on eligible purchases almost anywhere else.
These points can be redeemed for eligible purchases at Kogan.com using the “Pay with Points” feature, where 1,000 points are equivalent to $10 in credit. This means you can turn your everyday spending into tangible rewards with no cap on how much you can earn.
Complimentary Kogan First Membership
Cardholders receive complimentary membership to Kogan First, which comes with several perks, including:
- Free shipping on thousands of products.
- Express shipping upgrades.
- Exclusive member-only specials.
- A $100 discount on your first Kogan Energy bill.
Installment Options at Kogan.com
For larger purchases, you can opt for 0% p.a. installment plans at Kogan.com for up to 24 months.
While there is a one-off fee of up to 6.5% for this service, the ability to spread payments over time without incurring interest can help with budgeting for big-ticket items.
Additional Cardholders at No Extra Cost
You can add up to four additional cardholders to your account at no extra charge. Any eligible spend made by these additional cardholders will also contribute to your rewards balance, helping you earn points faster.
Visa PayWave and Digital Wallets
The Kogan Money Credit Card supports Visa payWave for quick and easy contactless payments.
Additionally, it is compatible with mobile wallets such as Apple Pay and Google Pay, allowing you to make secure, contactless payments via your smartphone, smartwatch, or tablet.
Security Features
The card comes with built-in security features, including FRAUDSHIELD and Visa Zero Liability, which protect you against unauthorized transactions.
These safeguards offer peace of mind, knowing that your card activity is being monitored and any fraudulent activity will be handled promptly.
Prerequisites for the Kogan Money Credit Card
To be eligible for the Kogan Money Credit Card, applicants must meet the following requirements:
- Have at least 18 years old
- Have a minimum income of $35,000 per annum.
- Hold a good credit rating
- Be an Australian citizen or permanent resident
These criteria ensure that applicants have a stable income and the financial responsibility required to manage a credit card effectively.
About Kogan Money
Kogan Money is an extension of Kogan.com, one of Australia’s largest online retailers, offering a broad range of products across categories such as electronics, home appliances, and outdoor gear.
The Kogan Money Credit Card is designed to complement the retailer’s ecosystem, providing shoppers with an opportunity to earn rewards for every dollar spent, both on Kogan.com and elsewhere.
Kogan Money also aims to deliver a seamless, customer-friendly financial service experience with no hidden fees and competitive interest rates.
How to Apply for the Kogan Money Credit Card
Applying for the Kogan Money Credit Card is simple and can be done online. Here’s a step-by-step guide:
- Visit the Kogan Money Website: Navigate to the Kogan Money Credit Card section.
- Check Eligibility: Ensure that you meet the minimum income, age, and credit rating requirements.
- Complete the Application Form: Provide personal information, including your name, address, employment details, and income.
- Submit Supporting Documents: You may need to upload documentation such as proof of income (payslips or bank statements) and identification (driver’s license, passport).
- Receive Approval: After submission, your application will be reviewed, and you will be notified of the outcome. If approved, your card will be sent to you in the mail.
Kogan Money Credit Card Fees and Tariffs
While the Kogan Money Credit Card has no annual fee, it’s essential to be aware of other fees and interest rates:
- Retail Purchase Rate: 0% p.a. for the first 9 months, then reverts to 21.99% p.a.
- Cash Advance Rate: 22.74% p.a.
- Balance Transfer Rate: 0% p.a. for 9 months, then reverts to the cash advance rate.
- Minimum Credit Limit: $6,000.
- Maximum Credit Limit: $30,000.
- Interest-Free Days: Up to 55 days (reducing to 44 days from November 2024).
It’s important to note that if you have an outstanding balance transfer, you may not be eligible for the interest-free period on new purchases.
Kogan Money Credit Card Pros and Cons
Like any credit card, the Kogan Money Credit Card has its strengths and limitations:
Pros
- $250 Kogan.com Credit for meeting spending requirements.
- 0% p.a. interest on purchases and balance transfers for 9 months.
- No annual fee ever.
- Uncapped rewards on both Kogan.com and everyday purchases.
- Complimentary Kogan First membership with exclusive benefits.
- No cost for additional cardholders (up to four).
Cons
- High purchase interest rate (21.99% p.a.) after the introductory period ends.
- Balance transfer reverts to the cash advance rate after 9 months.
- Lack of travel benefits
Conclusion
The Kogan Money Credit Card is a solid option for frequent shoppers of Kogan.com or anyone looking for a no-annual-fee rewards card. With its $250 Kogan.com credit, 0% interest on purchases and balance transfers for nine months, and uncapped rewards, it offers great value, particularly for those who can take advantage of the Kogan.com rewards ecosystem.
However, the card’s higher post-introductory interest rates and limited redemption options may not suit everyone, especially those looking for more flexible rewards.
Ultimately, this card is best suited for individuals who want to maximize their Kogan.com spending and are confident they can pay off their balance in full to avoid high interest charges.
