Kogan Money Black Credit Card

Pauline Hatch

Pauline is a personal finance expert at CreditCard.com.au, with 9 years in money, budgeting and property reporting under her belt. Ask Pauline a Question about this card.

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The Big Review: Kogan Money Black Credit Card

Allowing users to earn and redeem points within the Kogan network, the Kogan Money Black Card helps to keep costs down with no annual fee for the primary cardholder and up to four additional cardholders. With uncapped points earning on offer, the card also provides complimentary Kogan First membership, which offers access to free shipping, upgraded shipping, exclusive member deals, and priority customer service.

• Receive $300 Kogan.com Credit after spending $3,000 on eligible purchases within 90 days of approval. Purchases must be processed and charged within that period. New customers only; customers who received Kogan.com Credit from a Kogan Money Credit Card offer in the previous 12 months are ineligible. T&Cs apply.
• Earn up to 2 rewards points per $1 on eligible purchases at Kogan.com
• Earn 1 rewards point per $1 on eligible spending elsewhere
• Uncapped points earning
• Up to 4 additional cardholders at no extra cost
• Complimentary Kogan First membership (saving you $99)
• Access to BNPL at Kogan.com
• Annual Fee: $0
• Additional Cardholder Annual Fee: $0
• Purchase Rate: 21.99% p.a. (variable)
• Cash Advance Rate: 22.74% p.a. (variable)
• Interest Free Period on Purchases: Up to 44 days

This Card: The Lowdown

As an online retailer, Kogan is a name you generally associate with low-cost shopping. But, having branched out to provide everything from cars and car insurance, to travel insurance and travel deals, it’s perhaps no surprise that Kogan now has its own credit card as well. Issued by National Australia Bank Limited (NAB), the Kogan Money Black Card is Kogan’s first foray into the world of credit cards – and who knows, if it’s well-received, there may be more on the way.

So, what does the Kogan Money Black Card offer? Through the Kogan Money rewards program, the Kogan Money Black Card allows cardholders to earn rewards points when shopping at Kogan.com and elsewhere. Eligible purchases at Kogan.com earn 2 points per whole Australian dollar, while other eligible purchases earn 1 point per whole Australian dollar. Kogan Essentials purchases and purchases at other Kogan-owned websites do not qualify for the 2-point rate.

The Kogan Money Black Card is designed to be a low-cost card. This means, even though it is a points earner, it charges no annual fee. Cardholders can also benefit from complimentary Kogan First membership, which provides access to free shipping and upgraded shipping, alongside exclusive member deals and priority customer service when shopping at Kogan.com.

Digging Deeper

With the basics covered, it’s time to dig a little deeper into what’s on offer with the Kogan Money Black Card, so you can decide whether this card is right for you.

This Card: As a Rewards Card

First and foremost, the Kogan Money Black Card is a rewards card. It allows cardholders to earn points on the Kogan rewards program, which can then be redeemed within the Kogan network.

Earning Points

Offering tiered points earning, the Kogan Money Black Card allows cardholders to earn:

• 2 rewards points per whole Australian dollar spent on eligible purchases at Kogan.com
• 1 rewards point per whole Australian dollar spent on other eligible purchases

What’s nice to see on this card is the fact that even though it is a no annual fee card, it has uncapped points earning. So, as a cardholder, whether your spend is big or small, you pay nothing in annual fees, and you can earn as many points as your spending allows.

As for what is classed as ‘eligible’, these are transactions that are not cash advances, balance transfers, special promotions, BPAY payments, refunds and chargebacks, purchases of foreign currency and travellers cheques, transactions made in operating a business, payments to other NAB accounts, bank fees and charges such as interest and ATM charges, transactions made using rewards points, and government-related transactions.

Redeeming Points

Unlike many rewards programs, Kogan keeps it pretty simple in terms of points redemption. The rewards points you earn are redeemable at a rate of 1 cent per point. For example, $500 of eligible purchases at Kogan.com earns 1,000 points, worth $10 towards an eligible redemption at the current conversion rate.

To redeem points in this way, first you must register your Kogan Money credit card for ‘Shop with Points’ within your Kogan.com account. This will then allow you to use your points to pay for eligible purchases at the checkout.

As an alternative, you may also redeem points on Kogan Mobile and Kogan Internet purchases, also at a rate of 1 cent per point. To do this, log in to your credit card account online or on your mobile app, select the eligible credit card payment, and follow the instructions to pay with your rewards points.

This Card: Extras on Offer

While the Kogan Money Black Card may be branded a black card, it is not in fact a black card. Nope, there are no fancy features here, and this is not a prestige card. However, there are a few nice extras on offer, which we will run through now.

In addition to that, your Kogan.com account will be set up upon approval of your application (if you don’t already have one). You will then receive an email requesting that you activate your Kogan.com account and agree to the Kogan.com Terms and Conditions and Privacy Policy.

Complimentary Kogan First Membership

As a cardholder, you will receive complimentary Kogan First membership, which is currently valued at $99 per year. This could be a great bonus for regular Kogan.com shoppers, as it provides free shipping on thousands of eligible products with no minimum purchase.

What about products that already feature free shipping? Kogan First membership provides free upgrades to express shipping on eligible products. On top of that, members can benefit from access to exclusive member deals and priority customer service.

To access these benefits, the primary cardholder must register for Card Rewards and FIRST membership within 40 days of card approval. Additional cardholders are not eligible for complimentary FIRST membership. Benefits apply to eligible products and may change.

BNPL at Kogan.com

While there’s not much info available on this feature, Kogan does advertise the fact that cardholders can Buy Now Pay Later at the Kogan.com checkout, using their existing credit limit. To use the feature, you have to register your card and then opt in for an installment plan at checkout.

Interest Free Period on Purchases

The card offers up to 44 days interest-free on retail purchases when the applicable payment shown on your statement is paid in full by the due date. If you have a balance transfer or instalment plan, this is the Interest Free Days Payment; otherwise, it is the Closing Balance. A balance transfer does not automatically remove purchase interest-free days.

Account Management

Kogan makes managing your account pretty easy, using either the Kogan Money Credit Cards Mobile App on your mobile device or by accessing your account online at cards.koganmoney.com.au.

As you would expect, accessing your account online or using the app allows you to perform functions such as card activation, review your transaction history and statements, make BPAY payments, and set up alerts. Using the app, you can also receive transaction updates through real-time push notifications, and chat 24/7 with the Kogan Money Credit Cards team.

Also note, your credit card statements will not be mailed to you by post – instead, you will receive e-statements to your primary email address. For that reason, it’s important to keep Kogan Money up-to-date with your email address, and to keep an eye out for statements arriving in your inbox.

Visa Features

While Kogan may be new to the world of credit cards, Visa is not. Issued by NAB on the Visa network, the Kogan Money Black Card offers all the basic Visa features you would expect from a classic card, including Visa payWave for tap-and-go payments under $100, and card security and fraud protection with FRAUDSHIELD and Visa Zero Liability.

This Card: The Essentials

Applicants must be at least 18, be Australian residents for tax purposes, have an Australian mobile number and valid email address, earn at least $35,000 a year and have a good credit rating. The minimum credit limit is $6,000. Approval is subject to credit criteria.

The Kogan Money Black Card has no annual fee for the primary cardholder and up to four additional cardholders. The card also offers uncapped points earning with no annual fee, making it a cost-effective option for those who shop at Kogan.com regularly.

The current offer includes 0% p.a. on balance transfers for 6 months with no transfer fee, starting when the transfer is processed. Transfers cannot exceed 80% of your credit limit. Any transferred balance remaining after the promotional term attracts the variable cash advance rate, currently 22.74% p.a. No introductory purchase rate is advertised.

Decision Time

The Kogan Money Black Card offers great value for regular Kogan shoppers, thanks to its $0 annual fee and rewards structure. Its six-month balance transfer offer may also suit applicants who can repay the transferred amount during the promotional term; consider the cash advance rate that applies afterwards. Overall, it’s an ideal choice for frequent Kogan.com users who want to earn rewards and enjoy the benefits of Kogan First membership.