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Card Details
Interest Rates
Purchase: N/A
Cash Advance: N/A
Annual Fees
Main Card: $177
Additional Cards: $0
Annual Income
Personal: N/A
Household: N/A
Credit Score Estimate
300Poor
560Fair
660Good
725Very Good
760Excellent
Welcome Bonus
New clients can get 2 months of KOHO Everything for free, exclusively through FinlyWealth using promo code KOHOFINLY
Finly Rating
4.6/5
Institution
KOHO
How You Earn 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
Rewards Breakdown
Rewards Summary
Point Redemptions
Redemption Method
Net Value (After Annual Fee)
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
Interest on Balance
3.5% interest on your entire balance
Unlimited e-Transfers
Discount
Discount on Credit Building - only $5/mo
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.
- 3.5% 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.
Legal
*Eligible for new Koho clients who signup and fund their account within 30 days of account opening