I'm looking to cancel my Kogan credit card but I have a bunch of points and no real need to spend on anything right now. I thought to buy gift cards but you can only buy them with a credit card, so I'm wondering if anyone knows of a way I can preserve these somehow until I need something? Considering buying something popular e.g. a Switch or Airpods, let me know if you have any ideas.
Yeah that's the reason, broker just said cancel the card. At the time of application I asked for the minimum limit and they said 6k was it :-/
trying emailing them and explain the situation. i believe it can be reduced to 2K temporarily.
Unfortunately I've chatted to them about this, and they have told me that 6k is the minimum. I responded saying I'll need to cancel, and they sent me the cancellation instructions :-/
On a side note, if I told them I was suffering financial hardship, would that put some black mark against my credit report?
But if you're a true ozbargainer you're churning these for a free $400 a year ;)
Keeping credit cards, especially a kogan one isn't ideal.
That's a good point, however it's been easy to hang on to this one becuase I have these points I haven't needed to spend so far
I just dropped my $400 on a robotic vacuum, it does suck though how they're tied to the card :(
Maybe buy something from Apple and resell?
@Drakesy: yeah apple products are highly flippable, maybe some earpods. Sucks that they won't lower the limit though, there should be a law passed forcing organisations to allow customer to choose their limits no questions asked
Not sure if this is still churnable? T&Cs:
† To be eligible to receive the $400 Kogan.com Credit, …..This offer is for new Kogan Money Credit Card customers only and cannot be used in conjunction with any other promotions or offers. If you have previously held a Kogan Money Credit Card, you will not be eligible for this offer. ….
This is the second time i've taken it out and you may be right.
Looks like they're cracking down on it.
@Drakesy: Lucky you managed to squeeze an extra $400 out!
Would have been good if it was just a 12 month wait like the others.
You can’t transfer them to any other programs and I doubt they will do something special or preserve them for you if you are no longer going to be a customer. Kogan aren’t known for their customer service. Just spend them on something that is easily convertible for cash. Ie, iPad or a Laptop or if you dont have that much, get something for around the house. Cheap furniture or electronics. There must be something on there that you could use.
Previously when you bought something with Kogan Points, first it did the redemption during step 1, and then in Step 2 took you to checkout afterwards to use the redeemed points. If you didn't complete checkout the points stayed in your Kogan account as a credit for a future purchase. This happened to me once or twice. The last time I bought something the redemption / purchase seemed to all happen in one step (but I may be wrong). Perhaps if you buy something watch carefully and see what happens. If it is still in two steps then do the redemption, but don't complete the purchase and the credits should stay with the kogan account to be used later even after closing the account. You would however need to pay shipping costs on future purchases as you would not have Kogan first anymore.
Yes, it works like this. Points will expire after two years.
I mean the credits generated from credit card points.
I brought an Eufy doorbell. Just buy anything now and close card when order confirmed. There must be something you want or could sell?
I actually bought some tapware and a couple of Rangehoods for a Reno I am doing, stuff in the Reno I wasn't going to be too fussy about
why are you cancelling your kogan money credit card? there is no annual fee ever.
if you are getting a mortgage, i would recommend reducing your credit limit and not cancelling the card.