KOHO Essential Mastercard
2.4/5
Rewards Calculator Algorithm
You can either estimate rewards by inputting your spending habits manually or creating secure bank connections through our trusted financial partner mx.com and letting Finly analyze your spending in the past year.
Finly factors in all the reward limits and fine prints of every single credit card so you can be sure your results are as accurate as possible.
Note: The bank connections are not perfect, meaning that occasionally the connection may fail. This happens when the MX bank connector is unable to establish the link, which is beyond our control. If this occurs, please feel free to inform us and use the manual method as an alternative.
Your Spending
Modify your spending numbers and click update to get the most accurate reward estimates.
$2,000
Restaurant, Fast Food & Coffee Shop
$
Grocery
$
Recurring Purchases (Bills, Subscriptions, Rent via Chexy)
$
Gas
$
Transportation
$
Entertainment (Movies, Concerts, etc.)
$
Foreign Purchases (Non $CAD)
$
Travel (Flights, Hotels, etc.)
$
Pharmacy
$
Online Shopping
$
Home Improvement (Renovation, Furniture)
$
Purchases at Canadian Tire, Sport Check, Lquipeur, Atmosphere, Party City, SportsRousseau, HockeyExperts, LentrepduHockey
$
Other Purchases Not Specified
$
Linked Credit Cards
Connect your existing credit cards starting with your most used one. After a successful connection, view all Canadian credit cards with their rewards ranked using your true spending habits.
Card Details
Interest Rates
Cash Advance: N/A
Purchase: N/A
Annual Fee
$48
Annual Income
Personal: N/A
Household: N/A
Credit Score
Poor
Welcome Bonus
N/A
Card Type
Prepaid
Our Rating
2.4/5
Institution
KOHO
Rewards
- 1% cashback on groceries, transportation, and restaurants
- No cashback on other purchases
Calculating reward breakdowns
Insurance & Benefits
Insurance
Coverage
Benefits
Details
No Foreign Transaction Fees
Unlimited e-Transfers
Discount
$3 discount on credit building each month
Interest on Balance
Up to 5% interest
Pros & Cons
Pros
- No credit check: Ideal for people looking for a prepaid option without impacting their credit score.
- Interest on balance: You can earn up to 5% interest on your prepaid balance, turning it into a hybrid spending/savings tool.
- Low foreign exchange fee: At 1.5%, it's lower than the typical 2.5% charged by other cards.
- Credit building add-on: With KOHO’s Credit Building feature, you can improve your credit for a low cost ($7/month).
Cons
- Low rewards: Only 1% cash back on three categories (groceries, restaurants, and transportation) and a 0.5% overall return, which is lower than other cards.
- $48 annual fee: While it's lower than most credit cards, the prepaid card doesn’t offer insurance or perks that typical credit cards do.
- Limited benefits: No insurance coverage, and the rewards are modest compared to standard credit cards.