Best Koho Mastercards in Canada for 2026
The best KOHO Mastercard in Canada is the KOHO Everything Mastercard. This metal card comes with some valuable features, such as cash back opportunities and earning 3.5% interest on the account balance.
KOHO issues some of the best prepaid credit cards, but they're unique among standard prepaid cards. Instead of applying for separate cards, you select a membership plan – Essential, Extra, or Everything – and receive the corresponding card. The higher the membership tier, the better the perks. KOHO also has a no-fee option: the KOHO Core Mastercard.
This guide reviews all of KOHO's prepaid credit cards, lays out their pros and cons, offers alternative options, and more – all so you can make an informed decision about whether a KOHO card is right for you.
Key Takeaways
- The KOHO Everything Mastercard is KOHO’s best card, offering high cash back rates and valuable features.
- The KOHO Essential Mastercard is KOHO’s basic credit card, but it still has convenient features and an option to avoid the annual fee.
- KOHO's prepaid credit cards are excellent starter cards for students or those trying to avoid credit card debt.
- You can subscribe to KOHO Credit Building service to receive a small line of credit that helps build your credit score.
Best KOHO credit cards
| Card Name | Annual Fee | Rewards | Welcome Bonus | Learn More |
|---|---|---|---|---|
| KOHO Everything Mastercard | $177 | * 2% cash back on groceries, restaurants, and transportation * 0.5% cash back on all other purchases |  $100 GeniusCash + 10% cash back for the first 3 months (terms) | Learn more |
| KOHO Extra Mastercard | $144 | * 1.5% cash back on groceries, restaurants, and transportation * 0.25% cash back on all other purchases | $100 GeniusCash + 10% cash back for the first 3 months (terms) | Learn more |
| KOHO Essential Mastercard | $48 | * 1% cash back on groceries, restaurants, and transportation | $100 GeniusCash + 10% cash back for the first 3 months (terms) | Learn more |
| KOHO Core Mastercard | $0 | * 1% cash back on groceries, restaurants, and transportation | $100 GeniusCash + 10% cash back for the first 3 months (terms) | Learn more |
Earn $100 GeniusCash when you get a new KOHO prepaid card through creditcardGenius. Plus, earn 10% cash back on purchases for the first 3 months when you use promo code CCG10C26.
KOHO Everything Mastercard
×1 Award winner 
GC: $100
1x Award winner Rewards:
- 2% cash back on groceries, restaurants, and transportation
- 0.5% cash back on all other purchases
If you want the best of the best from KOHO, the KOHO Everything Mastercard is the card for you. You'll earn up to 2% back and 1.1% on average. Plus, you'll get 3.5% interest on the money in your account.
You'll also get bonus features not included with the lower tiers, such as advanced phone support, half-price access to the Credit Building service, and cash back on rent payments.
One of the fun perks of this card is that it's available in a sleek metal design. Just keep in mind that new clients may have to join a waitlist and start with a plastic card.
Pros:
- Up to 2% cash back
- Earn up to 3.5% interest
- No foreign exchange fees
- Half-priced Credit Building service
- Free credit reports
Cons:
- Higher annual $177 fee
- Low base earn rate
Cons:
- Only earns 1% cash back on 3 categories
- No insurance included
KOHO Extra Mastercard
GC: $100
Rewards:
- 1.5% cash back on groceries, restaurants, and transportation
- 0.25% cash back on all other purchases
If you're looking for more from your prepaid card, consider the KOHO Extra Mastercard. This card stands out for its lack of foreign transaction fees, a free monthly international ATM withdrawal, and a 30% discount on KOHO's Credit Building service. Of course, there's a cost to these extras: an annual fee of $144, or $12 per month.
If you decide it's not for you, you can switch to the no-fee version of the card at any time.
Pros:
- Up to 1.5% cash back on purchases
- Earn up to 2.5% interest
- No foreign exchange fees
- 1 free monthly international ATM withdrawal
- Discounted Credit Building service
Cons:
- No insurance included
- No cash back on rent payments
KOHO Essential Mastercard
GC: $100
Rewards:
- 1% cash back on groceries, restaurants, and transportation
The KOHO Essential Mastercard is available for no fee – as long as you do one of the following:
- Set up a recurring direct deposit (of any amount) into your KOHO account
- Add at least $1,000 each month
With Essential, you won't earn as much cash back as the mid-range or premium prepaid cards, but even without the direct deposit, you'll still pay a low monthly fee of $4.
If you're undecided about these cards, consider how much you're willing to pay for the privilege of keeping the card in your wallet.
Pros:
- Low $48 annual fee
- $0 annual fee with required deposits
- No credit check required
- Earn up to 2% interest
- Low 1.5% foreign exchange fee
KOHO Core Mastercard
Rewards:
- 1% cash back on groceries, restaurants, and transportation
The most recent addition to KOHO's lineup, the KOHO Core Mastercard is a no-fee version of popular prepaid cards.
You'll earn 2% interest on your balance, and enjoy a unique credit-building benefit.
KOHO's other cards allow discounted access to a Credit Building tool. Instead, the KOHO Core Mastercard offers free access to a specialized Secured Credit Building tool. You'll open a secured credit line, move the money to your KOHO account, then KOHO will automatically move it back on schedule. KOHO then reports these timely payments to Equifax.
Pros:
- No annual fee
- Free Secured Credit Building ($10/month value)
Cons:
- No discounted access to the standard Credit Building tool
- No insurance included
- No phone support (included with other KOHO plans)
What is KOHO and how does it work?
KOHO is an online-only fintech that was founded in 2014. It originally issued prepaid Visa cards, but now issues only prepaid Mastercards. As a challenger in the personal finance industry, KOHO is well known for its prepaid credit cards and credit-building program, KOHO Credit Building.
This online institution mostly designs its services and opportunities for people who may not qualify for credit products from big banks. For instance, KOHO offers a no-fee hybrid chequing/savings account with one of the highest interest yields in the country.
Similar to traditional banks, you aren't required to become a KOHO member. If you're interested in a product, simply head to the KOHO site or open the mobile app to complete an application.
KOHO membership
Wondering which membership level you should sign up for? Take a look at how they compare:
| Essential | Extra | Everything | |
|---|---|---|---|
| Cost | $0/mo with direct deposit or $1,000+ deposited monthly (or $4/mo) | $12/mo | $14.75/mo |
| What You Get | * 1% cash back on select spending * 2% interest on balance * 0.5% crypto trading fees | * 1.5% cash back on select spending * 2.5% interest on balance * 0.5% crypto trading fees * No FX fees | * 2% cash back on select spending * 3.5% interest on balance * 0.5% crypto trading fees * No FX fees |
| Best for… | People who make the deposits required to keep the account free | People who don't mind paying a small fee for better rewards and savings rates | People who trade in crypto, travel abroad, and prioritize savings |
As of 2026, Essential, Extra, and Everything members all have access to KOHO phone support. If you have the KOHO Core Mastercard, you don't have access to phone support – but you can still reach out through the in-app chat.
Essential
The Essential membership is free with recurring direct deposits, so it's where most people will want to start. Here's everything you get with this basic membership:
- 1% cash back on groceries, transportation, food, and drinks
- 2% interest on your balance
- 0.5% crypto trading fees
- Free access to your credit score
- Free e-Transfers and unlimited transactions
- Access to virtual card library
- Spending insights, plus savings goals and roundup tools
- Tenant insurance and travel insurance add-on opportunities
- Access to a free eSIM
Not sure if this is the plan for you? KOHO gives you 30 days to try out membership. If you decide the membership level isn't for you, you can adjust your level or cancel membership altogether.
Extra
Although the mid-tier membership costs $12 per month, you'll get all of the Essential benefits, plus more:
- 1.5% cash back on groceries, transportation, food, and drinks
- 0.25% cash back on everything else
- 2.5% interest on your balance
- 0.5% crypto trading fees
- 30% discount on credit building
- 1 free international ATM fee rebate
- 1 GB free eSIM every month
This level's biggest perk is probably paying no foreign exchange fees. Since most credit cards charge 2.5% on each purchase you make abroad, KOHO's Extra membership can quickly pay for itself.
Everything
KOHO's top membership also waives the foreign exchange fee and gives all the benefits of Extra membership along with quite a few more features and benefits:
- 2% cash back on groceries, transportation, food and drinks
- 0.5% cash back on everything else
- 3.5% interest on your balance
- 0.5% crypto trading fees
- 50% discount on credit building
- Free credit report
- 1 free international ATM fee rebate
- 3 GB free eSIM every month
And if you have joint accounts, you'll earn cash back and interest on those too, giving you even more value for just a couple of dollars more than Extra.
This is a metal card too, giving it a sleek, premium look.
Pros and cons of KOHO prepaid credit cards
Among other benefits, KOHO credit card applicants don't undergo a credit check, and the cards offer low FX fees and high interest on savings. However, they also have low base cash back rates and don't provide any insurance.
With KOHO credit cards, you can look forward to benefits like these:
- No credit checks: KOHO only offers prepaid cards, and since these aren't credit products, you won't need to undergo a credit check. All you have to do is load the card and spend what you put on it.
- Switch cards at any time: If you start with the no-fee card and want more, go ahead and make the switch. Of course, the inverse is also true – if you start with a premium card and decide the fee isn't worth it, it's easy to downgrade to the no-fee card instead.
- Low foreign transaction fees: Most credit cards charge 2.5% on purchases not made in Canadian dollars. But the KOHO Essential Mastercard charges a low foreign exchange fee of 1.5%, while the KOHO Extra Mastercard and KOHO Everything Mastercard don't charge any at all. Even at 1.5%, this can save travellers quite a bit of money.
- The KOHO app: The KOHO app makes it easy to manage your money with budgeting tools and spending analysis. The app is available for both iOS and Android.
But you'll also need to contend with these downsides:
- Low base earn rates: The base earn rate for these cards is quite poor compared to standard credit cards. The Essential only gets you 1% back on groceries, transportation, and restaurant purchases. The Everything earns you 2% on those same categories, while the Extra splits the difference at 1.5%. Outside of these categories, you're looking at nothing to 0.5% in earnings.
- No bearing on your credit score: Since they're prepaid cards, KOHO credit cards won't help your credit score. That said, KOHO has an add-on you can purchase to support your credit-building initiatives. (More on that below.)
- Lack of insurance: If you're hoping for insurance coverage, you're out of luck. None of the KOHO cards come with insurance.
Earning rewards with KOHO credit cards
If you want to level up your rewards, you need to shop with KOHO's partners. This sample shows a few of its partner retailers:
Earnings depend on the partner, but you can enjoy as much as 6.5% back. And this is bonus cash back – you'll earn at your card's regular rate, too.
Features of KOHO Mastercards
Once you have a KOHO prepaid card, you'll be able to access other KOHO products, services, and benefits. Here's what's available:
KOHO Credit Building
KOHO only offers prepaid cards, so they won't impact your credit score – good or bad. But with KOHO Credit Building, you can pay to have KOHO report your on-time payments to the Equifax credit bureau.
You'll get access to your score and should see an improvement in a few months.
The service costs $10 per month, but you get significant discounts if you also have a premium KOHO credit card. The Extra tier offers a 30% discount, and the Everything tier a 50% discount on these credit services.
Remember: If you choose to pay for this service monthly, ensure you always have $10 on your prepaid balance. If you have insufficient funds to pay the monthly fee, KOHO will report the missed payment. (Yes, it works both ways.)
KOHO Secured Credit Building
The KOHO Core Mastercard gives you free access to an alternate credit-building tool: KOHO Secured Credit Building.
This service also typically costs $10/month, but holders of the no-fee Core card can access it for no cost.
This program works similarly to KOHO Credit Building. KOHO will automate payments to a dedicated line of credit and report your successful payments to Equifax.
KOHO Earn Interest
If you keep enough cash on your prepaid card, you can earn interest on it with KOHO Earn Interest. How much you earn depends on your card:
- Essential: 2%
- Extra: 2.5%
- Everything: 3.5%
You need to set up a direct deposit on your account to enable KOHO Earn Interest. Without it, you won't earn anything.
KOHO International Money Transfer
KOHO makes it easy to send money to people in over 190 countries using money from your prepaid balance. KOHO International Money Transfer offers competitive exchange rates and is upfront about the fees you'll pay.
We looked at a variety of transfers and found that it costs roughly $4 in fees to send $1,000 abroad (it varies by currency).
KOHO insurance
Walnut Insurance and TuGo Travel Insurance partner with KOHO to provide tenant and travel insurance. Keep in mind that these services are not available by default – they're add-ons.
The tenant insurance is standard, with up to $1 million bodily injury liability and $100,000 in property damage liability. The travel insurance can be customized, or you can choose a full inclusive package with trip cancellation, emergency medical coverage, and more.
Users can apply for these insurance products quickly and easily through the KOHO mobile app.
Should you get a KOHO credit card?
If you're in the market for a prepaid credit card, then yes, KOHO is a solid choice. With no credit checks necessary, these cards are a good way for you to manage your finances without worrying about incurring debt.
Especially if you spend a lot of money at KOHO partner businesses, these cards can be well worth it.
That said, prepaid cards like KOHO don't offer the best rewards or earn rates, and you won't get any insurance with your card. Additionally, KOHO cards won't help raise your credit score. It's important to weigh how the card will fit into your financial situation before you apply.
Take a look at the following types of spenders to see if a KOHO card is right for you:
- Budget-minded people: Using a KOHO prepaid card ensures you won't spend more than you have.
- People building credit: If you don't have credit or your score is poor, KOHO's credit-building programs are an inexpensive way to establish or improve your credit score.
- Frequent online shoppers and travellers: KOHO doesn't charge foreign transaction fees on specific plans, making it a great option if you shop online or travel abroad regularly.
- Young adults and students: KOHO cards are fantastic starter cards for young people who benefit from the easy eligibility requirements and the site's budgeting tools.
- People who want high-interest savings: Depending on the plan, your balance could earn interest while sitting in your account.
How to apply for a KOHO Mastercard
As is the case with most credit cards, prepaid and otherwise, it's easy to apply for a KOHO Mastercard. With no income or credit requirements, all you need to be is a Canadian resident and of the age of majority in your province or territory.
To apply, visit one of our offer pages and click either "Apply" or "I Want This Deal." Alternatively, you can apply directly through the KOHO website or mobile app. Once you complete the secure online application, your card will be on its way!
Alternatives to KOHO cards
If you're looking for cards that are easy to qualify for and simple to use, check out these alternatives:
| Card | Pros | Cons | Learn more |
|---|---|---|---|
| Wealthsimple Prepaid Mastercard | * Earn up to 2.5% interest on your account balance
* No foreign exchange fees | * No insurance included
* No rewards on purchases | Learn more |
| EQ Bank Card | * No annual or foreign exchange fees * Acts as a hybrid bank account, with no charges for ATM withdrawals * Earn 2.75% interest on your balance | * Only earns 0.5% cash back on purchases * No insurance included | Learn more |
| Neo Chequing Account | * Earn an average of 5% back at Neo retail partners * Earn 0.1% interest on your balance | * Rewards from non-Neo partners aren't nearly as valuable * No insurance included | Learn more |
FAQ
Is KOHO a credit card?
Technically, KOHO offers prepaid cards, even though you use them just like a typical credit card. Unlike typical cards, though, you deposit funds into your KOHO prepaid card account, and this acts as your credit limit. You can spend any money you deposit into your account.
How much line of credit does KOHO give you?
You can apply for a line of credit with KOHO of any amount between $1,000 and $15,000. These are typical lines of credit, but the KOHO Credit Building program also issues users a small line of credit of $225 – paying the monthly fee for this service helps build your credit.
Is KOHO a good credit card for beginners?
KOHO is an excellent choice for a beginner credit card option simply because the base option is free. With credit-building tools, you can learn important aspects of borrowing and repaying debt, all while earning interest and cash back rewards. And since the prepaid cards are not true credit products, they prevent you from falling into credit card debt.
Who accepts KOHO credit cards?
All merchants who accept Mastercard will accept KOHO credit cards because Mastercard is the credit card network that partners with KOHO. This also means you can shop with your KOHO card at places that don't accept American Express, like Costco.
What is KOHO Financial?
KOHO is a financial technology company based out of Toronto. While there aren't any physical locations, KOHO members can access their credit card accounts, insurance products, crypto investments, credit-building memberships, and prepaid credit cards online or via KOHO's well-rated mobile app.
What are the pros and cons of KOHO?
KOHO offers excellent products and services for Canadians trying to build or rebuild their credit score, offering a valuable option for those who don't qualify for traditional credit cards. Unfortunately, its credit cards don't come with any insurance coverage. This is a big drawback when comparing them with typical credit cards from other issuers.
Editorial Disclaimer: The content here reflects the author's opinion alone. No bank, credit card issuer, rewards program, or other entity has reviewed, approved, or endorsed this content. For complete and updated product information please visit the product issuer's website. Our credit card scores and rankings are based on our Rating Methodology that takes into account 126+ features for each of 253 Canadian credit cards.
