The KOHO Essential Mastercard is KOHO’’s free entry-level plan. It pairs a prepaid Mastercard with budgeting tools and basic rewards, making it a simple option for Canadians who want spending controls rather than a traditional credit card.
Quick Verdict
Best for: Canadians who want a free everyday spending card and budgeting tools.
Not ideal for: anyone looking for a true credit card, a credit limit, or premium travel perks.
Key Card Details
| Feature | Detail |
|---|---|
| Annual fee | $0 |
| Purchase interest rate | N/A, prepaid card |
| Cash advance rate | N/A, prepaid card |
| Foreign transaction fee | Verify at koho.ca |
| Income requirement | None |
| Network | Mastercard |
| Rewards | Prepaid cash back / perks |
Verify current plan features and rates at koho.ca before signing up.
Bottom Line
KOHO Essential is a straightforward free prepaid card for everyday spending. It makes the most sense if you want KOHO’’s budgeting tools and do not need traditional credit card features.