KOHO Essential Mastercard
3.8/5
Card Details
Interest Rates
Purchase: N/A
Cash Advance: N/A
Annual Fees
Main Card: $48
Additional Cards: $0
Annual Income
Personal: N/A
Household: N/A
Credit Score Estimate
300Poor
560Fair
660Good
725Very Good
760Excellent
Welcome Bonus
N/A
Card & Reward Type
Card Type: Prepaid
Reward Type: Cash Back
Our Rating
3.8/5
Institution
KOHO
Rewards
- 1% cash back on groceries, eating and drinking, and transportation
- 2.5% interest on your entire balance
- Up to 6.5% extra cash back at selected merchants
Insurance & Benefits
No insurance coverage information available for this card.
Benefits
Details
No Foreign Transaction Fees
No more paying 2.5% or more on your foreign purchases
Unlimited e-Transfers
Interest on Balance
Up to 2.5% 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 2.5% interest on your prepaid balance, turning it into a hybrid spending/savings tool.
Cons
- Low rewards: Only 1% cash back on three categories (groceries, restaurants, and transportation) and nothing on other purchases.
- $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.