koho essential

KOHO Essential Mastercard

2.4/5

Apply Now

koho essential

KOHO Essential Mastercard

Apply Now

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 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

    • exchange money

      No Foreign Transaction Fees

    • send money

      Unlimited e-Transfers

    • discount

      Discount

      $3 discount on credit building each month
    • grwoth

      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.

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