Pros
- ✓Welcome Bonus: $20
Cons
- ✗No purchase protection
Our Review
Special Offer:
- Enter the code MILESOPEDIA when you apply for your card
- Get $20 when you open a KOHO account and make your first purchase within 30 days of signing up.
The features of the KOHO Prepaid Mastercard with the Essential Plan are as follows:
- Earn 1% cash back on on groceries, eating & drinking, and transportation
- Accepted at Costco
- Get 2% interest on your spending and savings account. Your funds will also be eligible for CDIC insurance. Interest rates are annual, calculated daily, paid monthly and may be changed at any time without notice.
- Automate your savings with Goals and RoundUps. Rounding off every purchase allows you to set aside savings, while goals make it easier to save for the things that make you happy.
- Lock in savings with Vault that keeps the funds you don’t want to spend separate from your spendable balance
- Create custom budgets and track your spending habits. Know where you’re at in real time with instant notifications every time you spend.
- Strengthen your credit rating with our 6-month Credit Enhancement Program for only $10/month
- Get access to a cash advance of up to $250 at 0% interest with KOHO Cover
Rewards
All Spending
0x
Cash Back pts per dollar
Transit
1x
Groceries
1x
Credit Card Rewards Calculator
See how much you could earn with this card based on your spending.
Cashback earned
$65
$/yr
Estimated Value
$65
After Fees
+$17
1st Year Value
$37
incl. welcome bonus
Annual rewards breakdown
Terms & Conditions
Card Features
Special offer:
- Enter the code MILESOPEDIA when you apply for your card
- Earn a $20 cash bonus when you sign up for a KOHO account with our link and make your first purchase within 30 days of registration
Features:
- Get 1% cash back on groceries, meals, drinks and transportation
- Accepted at Costco
- Get 2% interest on your spending and savings account. Your funds will also be eligible for CDIC insurance. Interest rates are annual, calculated daily, paid monthly and may be changed at any time without notice.
- $4 per month billed monthly or $48 per year billed annually
- Access all KOHO account features such as Safe, Goals and Rounding Amounts
- Get access to a cash advance of up to $250 at 0% interest with KOHO Cover
Legal
Only users who have successfully opened a new KOHO account and made their first KOHO card purchase within 30 days of signing up are eligible for the offer and can claim the one-time $20 bonus in their KOHO account. This offer is non-transferable and may only be used once per person. Offer does not apply to other KOHO offers or promotions. KOHO may, at its sole discretion, suspend, terminate or change the terms and requirements of the offer.
Related Cards
Conditions apply. All information is believed accurate but not guaranteed. Card details, rewards, and offers are subject to change at any time. Always verify the latest terms on the issuer’s website before applying. Ratesopedia may receive compensation through affiliate links. This does not affect our editorial choices or card rankings. © 2026 KOHO. All trademarks are property of their respective owners.