The KOHO Essential MasterCard is a great way for Canadians to save money on groceries and bills payments. With this prepaid card, Canadians can earn 1% cashback on all their purchases of groceries and bills payments. Furthermore, the card has $4 monthly fee or hidden charges, making it an attractive option for those looking to save money. It also comes with a range of benefits including free access to KOHO’s app and budgeting tools, as well as access to exclusive discounts and rewards.
Keep in mind that this card charges a 1.5% interest rate on the money you store on your account. Our verdict is this is kind of a drawback since there are prepaid cards out there that offers the same benefits without the interest.
KOHO Essential Mastercard
Unlimited e-Transfers Up to 5% extra cash backBenefits of KOHO Essential MasterCard
With the KOHO Essential MasterCard, you can save time and money while enjoying the convenience of using a prepaid card with all the benefits of a traditional credit card. Here are they:
- 30 days’ free trial
The KOHO Essential MasterCard is the perfect choice for you. It comes with a 30 days’ free trial, allowing you to explore all the amazing features it has to offer. The KOHO Essential MasterCard offers an array of benefits such as cashback rewards, no-fee transactions, and MasterCard safety features.
With this card, you can easily manage your finances and enjoy the convenience of having a prepaid card that is accepted worldwide. Plus, its free trial period gives you enough time to decide if it’s the right card for your needs. Try out the KOHO Essential MasterCard today and experience its amazing features!
- 1% cashback on groceries and bills payments
KOHO MasterCard is a great way to save money on groceries and bills payments. With this card, you get 1% cashback on all your purchases, which can add up over time. This card also provides other benefits such as no annual fees, access to exclusive discounts and rewards programs, and the ability to track your spending.
- $20 bonus for referrals
One of the best features of the card is its $20 bonus for referrals. With this bonus, you can earn extra cash just by referring your friends and family to join the KOHO community. Not only will they get all the benefits of using the card, but you’ll also get a $20 bonus for each successful referral. So, if you’re looking for a great way to save money and earn rewards, then signing up for the KOHO Essential MasterCard is definitely worth considering!
- $0 charge per transaction
With no charge per transaction, you can make payments without worrying about extra fees or costs. You can also use it to manage your money and budget more effectively. Plus, you get access to exclusive rewards and cash back offers. With the KOHO Prepaid MasterCard, you can enjoy all the benefits of a credit card without any of the hassle or risk associated with traditional cards.
- No minimum balance
Are you looking for a prepaid card with no minimum balance? The KOHO Essential MasterCard is the perfect solution. With this card, you can enjoy the convenience of a debit card without having to worry about maintaining a minimum balance. Plus, you get access to great benefits like cash back rewards and budgeting tools. So if you’re looking for an affordable and convenient way to manage your finances, the KOHO Essential MasterCard is the perfect choice.
Application Requirements
When applying for the KOHO Essential Mastercard, you should be aware of several key requirements:
- Age: You must be of legal age in your province or territory.
- Nationality/Residency: Generally, Canadian residency is required.
- Income: While specific income requirements were not detailed, financial stability is usually a factor in such applications.
- Credit Score: A range of credit scores is considered, but exact details were not specified.
Applying for the KOHO Essential: Step-by-Step
To apply for the KOHO Essential Mastercard, follow these steps:
- Visit the KOHO website.
- Navigate to the application section.
- Click on “Start Application”.
- Enter required personal and financial information.
- Agree to the terms and conditions.
- Submit your application.
- Upon successful submission, you’ll see a confirmation page.
Frequently Asked Questions (FAQs)
What are the main benefits of the KOHO Essential Mastercard?
The card offers no annual fees, cashback rewards on purchases, and an app for tracking spending and savings. It also features real-time transaction notifications and a RoundUp feature for automatic saving.
Are there any drawbacks to using the KOHO Essential Mastercard?
The card doesn’t offer credit building opportunities and has limited reward options compared to other cards. It may also have international withdrawal and transaction fees.
Can I earn rewards with the KOHO Essential Mastercard?
Yes, you can earn up to 1% cash back on groceries, transportation, food, and drink, and collect 0.25% on everything else. Plus, there’s an option to earn interest on your savings.
Is there a fee for the KOHO Essential Mastercard?
Yes, there’s a small monthly fee of $4 or $48 annually.
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