KOHO Essential Mastercard
2.4/5
Rewards Calculator Algorithm
You can estimate your rewards by inputting your monthly or yearly spending habits.
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.
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
$
Card Details
Based on $2,000 spending
First Year Value
$80.9
$80.9 in years after
Annual Rewards
$128.9
First Year Bonus
$0
Annual Fee
$48
First Year Value
$80.9
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
KOHO Essential Mastercard Cash Back Calculator
Based on $2,000 spending
Rewards Ranking
Rewards Breakdown
Groceries, Food and drinks, Transportation
$91.86
All other purchases
$37.04
Annual Fee
- $48
Net Annual Rewards
$80.9
(after fees)
Rewards Summary
Net Annual Rewards
$80.9
(after fees)
First Year Card Bonus
$0
First Year Card Value
$80.9
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.