KOHO credit cards 0 cards tracked

The best KOHO credit cards in Canada for 2026.

KOHO's card is a prepaid Mastercard, not a credit card: you spend money you've loaded, and there's no credit line. It's listed here because many people compare it with no-fee credit cards. KOHO says approval is instant with no credit check. Its plans add cash back, and the KOHO app includes budgeting tools.

Income range

Not applicable (prepaid card with instant approval)

Credit score

None. KOHO says no credit check is required.

Best for

People who can't get, or don't want, a credit card, budgeters, and anyone using KOHO's separate Credit Building add-on

All 0 KOHO cards we track.

KOHO card lineup

No KOHO cards currently tracked. Check back as we add more cards from this issuer.

No annual fee alternative

Wealthsimple Cash Card

If you're looking at KOHO cards mainly to avoid fees, the card that comes with Wealthsimple Chequing is worth a look. It's a Visa Platinum Prepaid card — not a credit card — so it spends your own balance and needs no credit check.

Monthly fee: $0
Foreign transaction fee: 0% (Visa's conversion rate still applies)
ATMs: no Wealthsimple ATM fees in Canada or abroad; eligible ATM-operator fees reimbursed
Not for you if: you want rewards points, a credit limit, or to build a credit history with card payments.

Affiliate link: YieldMaple may earn a referral bonus if you open an account. It costs you nothing. New clients get a $25 cash bonus when they open a Wealthsimple account through our referral link and deposit at least $100 from another institution within 30 days. Not financial advice.

Open Wealthsimple Chequing → Wealthsimple Cash Card review →

About KOHO cards

What to know before applying.

KOHO is not a bank, and its card is a prepaid Mastercard issued by KOHO Financial Inc. There's no credit check. The free no-plan account earns no cash back; KOHO's plans add cash back and a higher interest rate, and the Extra and Everything plans waive foreign transaction fees. The prepaid card on its own doesn't build credit, but KOHO's separate Credit Building add-on reports your payment history to Equifax for a monthly fee.

Best for

People who can't get, or don't want, a credit card, budgeters, and anyone using KOHO's separate Credit Building add-on

Not for

Anyone who wants a credit line or credit card rewards (KOHO is prepaid), travel-rewards seekers

← All credit cards Check approval odds → How we rate →

FAQ

Common questions about KOHO cards.

Is KOHO a credit card or a debit card?

Neither, technically. KOHO's card is a prepaid Mastercard. KOHO says it isn't linked to a credit line, so you can only spend money you've loaded. There's no credit limit to borrow against and no monthly card balance to pay off.

Can KOHO help build credit?

Not the prepaid card on its own; KOHO says prepaid cards alone don't build credit. KOHO's separate Credit Building add-on is a small no-interest line of credit that reports your payment history to Equifax. It has a monthly fee, discounted on the Extra and Everything plans, and KOHO warns that unpaid balances can hurt your credit score.

What is KOHO Earn Interest?

It's interest KOHO pays on your balance once you opt in. The rate depends on your plan, and the no-plan account gets the lowest rate. Opting in also matters for protection: KOHO says balances become eligible for CDIC protection only once you opt in to Earn Interest.

Is KOHO safe?

KOHO is not a bank; it's regulated by FINTRAC as a money services business. When you opt in to Earn Interest, KOHO places your funds in trust with CDIC member institutions, and they're eligible for CDIC protection up to $100,000 per beneficiary, per member institution. KOHO accounts not earning interest aren't eligible for CDIC protection. Our article Is KOHO safe? covers this in more detail.