Best KOHO Credit Cards in Canada for October 2026
Published Jul 31, 2026 1:20 AM • 2 min read
KOHO's prepaid credit cards were designed with international shoppers, savvy savers, and cashback enthusiasts in mind. In this post, find out which of these three contenders is right for you.
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Best KOHO Credit Cards in Canada
Our choice for: Best Overall
on KOHO's website
Finly Special Offer
Welcome Bonus
New clients can earn 10% cash back* using promo code FW10C26
Annual Fee
$177
Interest Rates
N/A / N/A
RECOMMENDED CREDIT SCORE
4.6/5
The KOHO Everything Mastercard offers a combination of high cash back rewards and a unique 3.5% interest on your balance, along with no foreign transaction fees. While the $177 annual fee is steep for a prepaid card, it could be worth it for those who can maintain a high balance, frequently make purchases in the bonus categories and travel internationally with spend in foreign currencies.
Pros
- High rewards
- No foreign transaction fees
- Interest earned on balance
- No credit check
- Unlimited e-transfers
- Discount on credit building
- Select merchant cashback
Cons
- High annual fee
- Low base earn rate
- No insurance
Rewards
- 2% cash back on groceries, eating & drinking, and transportation
- 0.5% cash back on all other purchases
- Up to 6.5% extra cash back at selected merchants
- 3.5% interest on your entire balance
Benefits
Details
No Foreign Transaction Fees
No more paying 2.5% or more on your foreign purchases
Interest on Balance
3.5% interest on your entire balance
Unlimited e-Transfers
Discount
Discount on Credit Building - only $5/mo
Eligibility
Credit Score
PoorAnnual Income
N/A
Our choice for: Best Mid-Tier Option
on KOHO's website
Finly Special Offer
Welcome Bonus
New clients can earn 10% cash back* using promo code FW10C26
Annual Fee
$144
Interest Rates
N/A / N/A
RECOMMENDED CREDIT SCORE
4.1/5
For those who don't aim to build their credit and are more interested in a prepaid card, this KOHO card is a good option. With benefits like interest on the whole balance, a foreign transaction fee waiver, and unlimited e-transfers, this is a very solid prepaid card. However, if your goal is to build credit, there are better options available to assist with that goal. Additionally, assess whether the monthly fee is worth the benefits you get compared to the basic card.
Pros
- Rewards program
- Select merchant bonus cashback
- No foreign transaction fees
- Interest on balance
- Unlimited e-transfer
- Credit building discount
- Poor credit approval
Cons
- Benefit monthly fees
- Weaker credit building
- High annual fee
- No insurance
Rewards
- 1.5% cash back on groceries, eating & drinking, and transportation
- 0.25% cash back on all other purchases
- Up to 6.5% extra cash back at selected merchants
- 2.5% interest on your entire balance
- No FX fees
Benefits
Details
No Foreign Transaction Fees
No more paying 2.5% or more on your foreign purchasesInterest on Balance
2.5% interest on your entire balanceUnlimited e-Transfers
Discount
Discount on Credit Building - only $7/mo
Eligibility
Credit Score
PoorAnnual Income
N/A
From our editors: The full list of Best KOHO Credit Cards in Canada
Best Overall: KOHO Everything Mastercard
The KOHO Everything Mastercard is a unique contender that optimizes both saving and spending. For starters, this card earns you solid cashback on groceries, dining, and transportation, plus additional cashback at select merchants. The best part? Cardholders also collect interest on their entire balance. While there is no insurance coverage, members benefit from perks like no foreign transaction fees, unlimited e-transfers, and a discount on credit building services. Get the full details in our KOHO Everything Mastercard Review.
Read More: Best Cashback Credit Cards in Canada, Best No Foreign Transaction Fee Credit Cards in Canada, Best Credit Building Credit Cards in Canada
Best Mid-Tier Option: KOHO Extra Mastercard
The KOHO Extra Mastercard is like the younger sibling of the Everything Mastercard. This contender earns you slightly less cashback on groceries, dining, and transportation, plus a lower interest rate on your balance. That said, the card still allows you to collect extra cashback at select merchants. The benefits are also the same, providing cardholders with no foreign transaction fees, unlimited e-transfers, and a discount on credit building services. Note that this KOHO card has a lower annual fee, making more affordable. Learn more in our KOHO Extra Mastercard Review.
Best No Annual Fee Card: KOHO Essential Mastercard
For an even more affordable KOHO credit card, go for the no-fee KOHO Essential Mastercard. This card still earns you some cashback on groceries, dining, and transportation, plus interest on your balance. You can also collect extra cashback from select merchants to boost those lower initial cashback rates. Unfortunately, this KOHO card has fewer benefits, but it's still worth considering if you're a budget-conscious spender. Discover more in our KOHO Essential Mastercard Review.
Pros and Cons of KOHO Credit Cards
To help you make a educated decision about whether KOHO is right for you, we've compiled this list of the pros and cons of KOHO credit cards:
Pros | Cons |
|---|---|
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Top Applicants for KOHO Credit Cards
Apply for a KOHO credit card if you want to:
- Avoid foreign transaction fees
- Earn interest on your entire balance
- Budget your spending (prepaid factor)
- Collect some cashback, especially at select merchants
- Enjoy unlimited e-transfers
How to Apply for KOHO Credit Cards
To apply for a KOHO credit card, simply hit the "Apply Now" button below any of the featured cards above. Afterwards, you'll be redirected to KOHO's official website to begin the application process. Credit card applications typically ask for your personal information (like your email, birthdate, and address) and financial information (such as your income, when applicable).
Frequently Asked Questions
Yes. KOHO offers three prepaid credit cards. Read more about each card above.
KOHO credit cards can help you build credit if you're willing to pay a monthly fee. These fees very by card tier (Essential, Extra, Everything).
Any credit card can be considered a "good" card if it complements your spending habits. If you want to shop internationally, collect cash back (especially from select retailers), and earn interest on your balance, a KOHO card could be one of the best credit cards in Canada as far as you're concerned.
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