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Kogan Money

Kogan Money Black Card

Last updated: 6 February 2020

Pay no annual fee and reward your spending with a $100 Kogan.com Credit plus uncapped points.

The Kogan Money Black credit card combines rewards, shopping perks and cost-saving features. When you use your new card to spend $1,000 on eligible purchases in the first 60 days of approval, you’ll score $100 in Kogan.com Credit. You’ll also earn up to 2 rewards points per $1 spent when you shop at Kogan.com and 1 rewards point per $1 spent on all other eligible transactions.

This card charges $0 annual fee and offers a 0% interest rate on balance transfers for 12 months when you apply by 01 March 2020.

0% p.a.

Balance transfer rate

for 12 months

20.99% p.a.

Purchase rate

Reward point

Per $ spent (Visa/Mastercard)

$0 p.a.

Annual fee

Details

Product Name	Kogan Money Black Card
Rewards Program	Kogan Rewards Program
Balance transfer rate	0% p.a. for 12 months
Balance Transfer Revert Rate	Cash Advance Rate (21.74% p.a.)
Balance Transfer Limit	80% of available balance
Purchase rate (p.a.)	20.99% p.a.
Annual fee	$0 p.a.
Interest Free Period	55 days
Cash advance rate (p.a.)	21.74% p.a.
Min credit limit	$6,000
Card Type	Visa
Foreign Currency Conversion Fee (Visa/Mastercard)	3.4% of transaction value
Complimentary Travel Insurance	No

Minimum Income	$35,000
Minimum Age	18 years of age
Available to Temporary Residents	No

Pros

No annual fee
$100 Kogan.com Credit
Uncapped rewards points

Cons

Purchase interest rate of 20.99% p.a. is high
Maximum earn rate is only on Kogan Exclusive brands

Rewards Program	Kogan Rewards Program
Rewards Points per $ spent (Visa/Mastercard)	1
Rewards Points per $ Cap (Visa/Mastercard)	Uncapped

Annual fee	$0 p.a.
Minimum Monthly Repayment	2% of the closing balance or $30, whichever is greater
Late Payment Fee	$30
Foreign Currency Conversion Fee (Visa/Mastercard)	3.4% of transaction value
Cash Advance Fee	3.5% or $5, whichever is greater
Overseas Cash Advance Fee	$5
Additional Cardholder Fee	$0
Number of Additional Cardholders	4

Expert review

Review by

Sally McMullen

sally.mcmullen@finder.com.au

Sally McMullen is Finder's credit cards and frequent flyer editor by day and a music maven by night. Her byline can be spotted on Yahoo Finance, Dynamic Business, Financy and Mamamia as well as Music Feeds and Rolling Stone.

Expert review

The Kogan Money Black credit card is the first Kogan credit card to hit the market. Underwritten by Citi, this Visa card is designed to reward online shoppers and loyal Kogan.com customers. If you regularly shop at Kogan, you can take advantage of the higher rewards points earn rates that this card has to offer.

You can redeem your points for purchases at the Kogan.com website at a rate of 1 cent per point. So if you spend $500 on Kogan exclusive brands and earn 1,000 reward points, you could redeem that for $10 worth of purchases at the Kogan.com.

If you're looking to be rewarded for your spending but aren't a regular Kogan customer, you can compare a range of rewards cards to find the one that will give you the most value.

Although the card offers a no-fee balance transfer, remember that the promise of a $100 credit may tempt you to spend beyond your budget when you're trying to pay off an existing debt.

How to apply

You can apply for the Kogan Money Black Card online in around 15 minutes as long as you meet the eligibility requirements and have the following information.

Eligibility criteria

Income. You must earn at $35,000 per year.
Residency. This card is only available to citizens and permanent residents of Australia.

New cardholder. To be eligible for the balance transfer and Kogan credit promotion, you must be a new Kogan Money Black Card applicant.
Eligible balance transfer debt. If you are transferring a balance, you can request to transfer from $500 up to 80% of your available credit limit from credit cards, store cards, personal loans and lines of credit issued in Australia.
Age. You must be at least 18 years old to apply.

Required documents

Personal details. Including your full name, contact details (including an Australian mobile number and valid email address), number of financial dependents.
Proof of identification. You'll be required to provide at least one form of ID including an Australian passport or driver's licence.
Income. Confirm your employment status and total annual salary.
Finances. This includes your expenses, liabilities and assets.
Balance transfer details. If you're transferring a balance to this card, you'll need to confirm how much you're requesting to transfer and provide details of the existing account(s) you're moving it from.

Card benefits

$100 credit offer. When you apply by 01 March 2020 and use your new card to spend $1,000 on eligible purchases in the first 60 days of approval, you'll score $100 in Kogan.com Credit.
Earn rewards. Collect 2 rewards points per $1 spent when you purchase exclusive products at Kogan.com and 1 rewards point per $1 spent on all other eligible transactions at Kogan.com and elsewhere. At a rate of 1 cent per point, you can use your points to pay at the Kogan.com checkout or for payments to your Kogan Money Black Card.

Complimentary Kogan First membership. You'll save $99 with a complimentary Kogan First Membership. Perks include exclusive member deals, free delivery on thousands of eligible products, upgrades to express shipping and priority customer service.
Balance transfer. Apply by 01 March 2020 and you can get existing debt under control and pay 0% interest on balance transfers for 12 months with no balance transfer fee. At the end of the introductory period, any remaining charges will attract the cash advance rate, currently 21.74% p.a.
Additional cardholders. You can request up to 4 additional cardholders at no extra cost.

Rates & fees

Purchase rate. This card charges a 20.99% p.a. variable purchase interest rate.
Cash advances. If you use your card to make a cash advance, such as an ATM withdrawal, you'll be charged the cash advance rate of 21.74% p.a. and a cash advance fee of $5 or 3.5% of transaction value, whichever is higher.

Interest-free days. When you pay your previous balance in full by the statement due date, you can take advantage of up to 55 interest-free days on purchases. You won't be eligible for interest-free days if you're paying off a balance transfer.
Foreign transaction fee. If you use your card to shop overseas or online with an international retailer, you'll be charged a foreign transaction fee of 3.4%.
Minimum credit limit. You can request a credit limit from $6,000.

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2 Comments

julia
November 13, 2019

Is it no annual fee card for life or just the first year ?

Reply
- finder Customer Care
  
  Charisse
  November 13, 2019
  
  Hi Julia,
  
  Thanks for reaching out to Finder.
  
  Kogan Money Black Card has no annual fee for life and not just for the first year. This means you do not have to pay a fee to be a cardholder which can help minimize your credit card cost.
  
  As a reminder, before applying for any credit card, please ensure that you meet all the eligibility criteria and read through the PDS/T&Cs before making a decision on whether it is right for you.
  
  Cheers,
  Charisse
  
  Reply

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