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KOHO Everything Mastercard Review
The Bottom Line
The KOHO Everything Mastercard offers a combination of high cash back rewards and a unique 5% interest on your balance, along with no foreign transaction fees. While the $228 annual fee is steep for a prepaid card, it could be worth it for those who can maintain a high balance and frequently make purchases in the bonus categories.
Our choice for: Overall best prepaid card
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on KOHO's website
Welcome Bonus
N/A
Rewards Rate
0.5% - 2% cashback
Cash Back
Annual Fee
$177
Interest Rates
N/A / N/A
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
- 4% interest on your entire balance
- No FX fees
- Up to 6.5% extra cash back at selected merchants
Benefits
Details
No Foreign Transaction Fees
No more paying 2.5% or more on your foreign purchases
Interest on Balance
4% interest on your entire balance
Unlimited e-Transfers
Discount
Discount on Credit Building - only $5/mo
Eligibility
Credit Score
PoorAnnual Income
N/A
**Eligible for new Koho clients who signup and fund their account within 30 days of account opening Check here for full details and current product information.
Card Details
Interest Rates
Purchase APR
N/A
Cash Advance APR
N/A
Fees
Annual Fee
$177
Additional Cards
$0
Eligibility
Minimum Individual Income
N/A
Minimum Household Income
N/A
Credit Score Estimate
Poor
Type
Card Type
Prepaid
Reward Type
Cash Back
Pros & Cons
Pros
- High rewards: Earn 2% cash back on essential categories like groceries, restaurants, and transportation.
- No foreign exchange fees: Save 2.5% on all foreign currency purchases.
- 4% interest on balance: This makes it one of the best hybrid savings and spending accounts.
- No credit check: Instant approval with no impact on your credit score.
Cons
- High annual fee: The card comes with a hefty $177 annual fee, or $22 monthly if not purchasing the annual option.
- Lower cash back on other purchases: Only 0.5% on all other purchases.
- No insurance: Lacks typical credit card insurance perks.
Get personalized rewards estimates — see exactly how much you could earn.
KOHO Everything Mastercard Cash Back Calculator
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on KOHO's website