Balance Transfers

Balance transfers can help you save on interest charges by letting you move the balance(s) on your other eligible credit cards or loans to your Kogan Money Credit Card at a promotional interest rate, for a set period.

All purchases you make on your Kogan Credit Card during the set period will be eligible for an interest free period if you pay the Interest Free Days Payment amount show on your statement by the Due Date, while you have a Balance Transfer.

At the end of that period, the interest rate on any outstanding transferred balance (and any related fees or interest) will revert to the applicable Annual Percentage Rate for Cash Advances.

You can request a transfer for amounts between $500 and 80% of the available Credit Limit on your Kogan Money Credit Card.

Some balance transfer offers include a balance transfer fee. 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 increasing to $10,200.

Balance transfers are processed between 5 to 7 business days from approval of your application.

If you haven’t used your account you agree that the processing of your Balance Transfer will be acceptance of the credit card offer.

No, having a Balance Transfer does not mean you will lose interest-free days on new purchases.

An interest free period is available on your account, if you pay the Interest Free Days Payment advised on your monthly statement.

When your balance transfer period ends, any remaining balance will be charged interest at the applicable Annual Purchase Rate for Cash Advances.

As the promotional interest rate offered on balance transfers is generally low, and may be 0% p.a. during the promotional period, payments will be applied to amounts that have a higher interest rate such as purchases or cash advances before being applied to your balance transfer.