KOHO is a free spending and savings account designed for all Canadians. Comes with the Prepaid Mastercard® and mobile app, you’ll be able to budget, spend, and save like a pro.
If you’re looking for a prepaid credit card in Canada, the Koho Prepaid Credit Card is definitely worth considering. This card provides users with the benefits of a credit card, without the risk of overspending or accruing debt.
Here’s everything you need to know about the Koho Prepaid Credit Card.
What is a Koho Prepaid Credit Card?
A Koho Prepaid Credit Card is a reloadable prepaid credit card that allows users to make purchases online and in-store. This card is not linked to a traditional bank account or credit line, which means that users cannot accrue debt or spend more than what they have loaded onto the card.
How does it work?
The Koho Prepaid Credit Card works just like any other credit card, but with a few key differences. Users must first load money onto the card before they can use it to make purchases. Once the funds have been loaded, users can use the card to make purchases online, in-store, or over the phone.
Users can also use the Koho app to keep track of their spending and view their balance in real-time. The app also provides users with valuable insights into their spending habits, making it easier to budget and manage their finances.
What are the benefits of using a Koho Prepaid Credit Card?
There are several benefits to using a Koho Prepaid Credit Card. Here are some of the key advantages:
- No credit check required: Since this card is not linked to a traditional credit line, there is no need for a credit check. This makes it a great option for those who have poor credit or no credit history.
- No overdraft fees: Since users cannot spend more than what they have loaded onto the card, there are no overdraft fees or penalties.
- Real-time spending insights: The Koho app provides users with real-time insights into their spending habits, making it easier to manage their finances.
- Security features: The Koho Prepaid Credit Card comes with several security features, including chip and PIN technology and the ability to freeze and unfreeze the card in real-time.
How do I get a Koho Prepaid Credit Card?
Getting a Koho Prepaid Credit Card is easy. Simply visit the Koho website or download the app to get started. Users will need to provide some basic information, such as their name, address, and date of birth, and then follow the prompts to set up their account and load funds onto the card.
In conclusion, the Koho Prepaid Credit Card is a great option for those looking for a convenient and secure way to make purchases without the risk of overspending or accruing debt. With its real-time spending insights and security features, this card provides users with valuable tools to manage their finances and stay on top of their spending.
CashBack : 1% Groceries + Bills/Service
Up to 5% extra cash back when shop with partnered merchants
Gain interest rate : 0.5% interest on all balance (no minimum deposit requirement)