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.
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…
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;…
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…
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…
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.
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.
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.
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…