Reviews
KOHO Premium Visa Prepaid Card full review: should you get it?
A complete review of one of the most advantageous prepaid cards in Canada, the KOHO Premium Visa: 2% cashback and 0% fee for foreign transfers.
Advertisement
KOHO Premium Visa Prepaid Card: 2% cashback in the categories that generate the biggest expenses every month!
In fact, KOHO is a prepaid card issuer that has been drawing attention since undergoing a revival in Canada in 2021. Thus, one of its main products is the KOHO Premium Visa Prepaid Card.
This card has an excellent cashback program and extremely attractive rates. So, to learn more about this card, read the full review below.
KOHO Premium Visa Prepaid Card: check out how to apply!
Learn how to apply for KOHO Premium, one of the best prepaid cards in Canada: 2% cashback even for those who don't have a good credit score.
Credit Score | Bad onwards (300 or more) |
Annual Fee | $84 or $9 monthly ($0 for the first month) |
Regular APR | 0% |
Welcome bonus | None |
Rewards | 2% cashback on food purchases (supermarket and restaurants) and transport (gasoline, Uber and others); 0.5% in all other categories |
KOHO Premium Visa Prepaid Card: learn more about this financial product
In fact, the KOHO Premium is a prepaid card. This means that you must make a deposit before you can start using your card. Thus, you can only spend the amount that was previously deposited. That way it is impossible to incur new debts with this card.
In fact, the Premium version of the KOHO Card is not a card, but an “upgrade” of the KOHO Visa Prepaid Card product. Therefore, to have access to this enhanced version, you must pay an annuity or divide this amount into monthly installments.
However, what is on the KOHO Premium Visa Prepaid that guarantees payment of an annual fee? An extremely profitable cashback program! So, this is a card aimed at a young audience, especially Millennials. Thus, the scoring categories were selected in such a way that the youth’s lifestyle scored even higher.
That’s why the KOHO Premium gives you 2% cashback on food purchases (supermarkets, restaurants…) and transportation (Uber, gasoline, public transport…). All other purchases offer a 0.5% reward. The KOHO Premium Visa also exempts you from overseas transfer fees.
On most credit cards, this fee is 3%. This card also offers price coverage on your purchases. This means that if, after completing a purchase, the same product is found for a lower price, you will receive the difference in values.
That way, without having to search in infinite sites, you will always have access to purchases with the maximum discount. Also, if you need help with investments or taxes, you can ask questions with KOHO Financial Coaching. Finally, you are still entitled to one free withdrawal per month abroad.
You will be redirected to another website
You’ll receive messages for less than 1 week, with a maximum of 1 message per day. You can unsubscribe anytime by replying STOP. By submitting this form, I confirm that I am 18+ years old and agree to the Privacy Policy and Terms and Conditions. I also provide my signature, giving express consent to receive informational messages via automated emails, SMS, MMS text messages, and other forms of communication. Message frequency may vary as part of our good-faith effort to respond to your inquiry. Message and data rates may apply. Text STOP to cancel. I understand that my consent to receive communications is not a condition of purchase and that I may revoke my consent at any time.
KOHO Premium Visa Prepaid Card features
Indeed, now it’s time for the test by fire! We have separated the main advantages and disadvantages of the KOHO Premium Visa Prepaid. That way, you can decide if this card is really worth it for you. So, take a look at the lists below:
What are the benefits?
- Cashback program that offers 2% in the categories that generate the highest expenses for the majority of the population;
- Possibility to apply even with bad credit;
- 0% fee for foreign transfers;
- Price protection.
What are the drawbacks?
- High annual fee ($84 in a single payment or $9 per month);
- Low reward for purchases in non-selected categories: only 0.5%;
- There is no welcome bonus;
- Your maximum cash register withdrawal is capped at $800 per day.
What credit score do you need to get the KOHO Premium Visa Prepaid Card?
KOHO Premium Visa does not make a credit score distinction. That way, even with a bad score, you might be eligible to have that card. This is one of the advantages of most prepaid cards on the market.
How does the KOHO Premium Visa Prepaid Card application process work?
As the KOHO Premium Visa Card is a card aimed at young people, it would be unwise not to allow online applications. By the way, through the official KOHO website, you can do this whole process without having to leave your home.
To find out how the application of this card works, click on the link below and read an exclusive article.
KOHO Premium Visa Prepaid Card: check out how to apply!
Learn how to apply for KOHO Premium, one of the best prepaid cards in Canada: 2% cashback even for those who don't have a good credit score.
Trending Topics
Regions Explore Visa® Credit Card: check out how to apply!
Apply to Regions Explore Visa® Credit Card and build or rebuild your credit with excellent benefits. Find out how here!
Keep ReadingKOHO Premium Visa Prepaid Card: check out how to apply!
Apply for the KOHO Premium Visa Prepaid Card even with bad credit and receive 2% cashback on a card that saves you from incurring more debt.
Keep ReadingUpgrade Triple Cash Rewards Visa® full review: should you get it?
Having an Upgrade Triple Cash Rewards Visa® means receiving 3% cash back on purchases that weigh the most on your budget. Learn more!
Keep ReadingYou may also like
Upgrade card or Upgrade Bitcoin Rewards card: discover your best fit
Upgrade card or Upgrade Bitcoin Rewards card? Build Credit or Profit from Rewards? Understand which of these options is best for you.
Keep ReadingHow do travel credit cards work?
Understand how do travel credit cards work to find out if these cards really work and how to take advantage of everything they can provide!
Keep ReadingKOHO Visa Prepaid Card: check out how to apply!
Choose your credit limit and get 0.5% cashback on all your purchases. Click here to learn how to apply for the KOHO Visa Prepaid Card.
Keep Reading