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KOHO Review: Earn $20 Sign Up Bonus & Free Prepaid Card

KOHO Review: Earn $20 Sign Up Bonus & Free Prepaid Card
Written by Mathew Jackson

KOHO Review: Earn $20 Sign Up Bonus & Free Prepaid Credit Card

Koho Review 2022: Koho officially debuted its new metal credit cards, making the product accessible to a portion of the hundreds of thousands of clients who had enrolled on the waitlist. Koho has had over 75,000 interested consumers join up since fully activating its lineup at the beginning, with 48 percent of them being total new prospects for the FinTech startup. The metal cards are the newest addition to Koho’s array of financial products aimed at millennials, following the company’s recent $20 million Series B expansion. In Canada, the firm, which debuted in 2017, offers itself as an alternative to conventional banking.

KOHO Review: Earn $20 Sign Up Bonus & Free Prepaid Card

KOHO Review: Earn $20 Sign Up Bonus & Free Prepaid Card

KOHO Accounts Types

In this Koho review, we are going to explain to you what kind of accounts Koho Canada Offers. You can open a variety of KOHO accounts and receive a physical card.

  1. KOHO Regular Account: There are no monthly fees with this account, and you receive 0.50% money back on all transactions.
  2. KOHO Joint Account: No monthly charge, 0.50% cashback offers, and the possibility to discuss financial goals with a companion.
  3. KOHO Premium Account: You spend $9 monthly ($84 per year) and get an extra 1.50% money back on transactions in three categories. This account also comes with other benefits.
Claim $20 Free Sign Up Bonus

KOHO Mastercard Card Benefits & Features – Koho Review

Earn Cash Back Reward

You may get 2% cash back with KOHO Premium on grocery, cafes, delivery services, pubs, coffee houses, and transport, including Lyft and Uber. This is in addition to the basic KOHO card’s 0.50% money back for all other card purchases. That’s more than some of the greatest cash-back credit cards have to offer. Let’s assume you spend $15,000 per year on grocery and takeout. That comes out to $300 money back with KOHO Premium versus $75 cash back with ordinary KOHO. Your annual food bill would more than cover the annual fee.

Earn Additional Cashback from Partners

If you have a KOHO Premium subscription, you can earn extra cashback by using your KOHO card at merchant outlets. For example, Pizza Pizza offers an extra 3% cash back to all KOHO customers, but if you’re a KOHO Premium subscriber, you’d receive a maximum of 5.5% payback. The particular value of each item will differ by the partnership, and the additional Cashback will be transferred to your account automatically within 1-2 working days.

Click Here to Claim $20 Free Sign Up Bonus

KOHO Credit Building

If you have a weak credit score, it makes it difficult to qualify for the instruments that will help you establish credit, such as the finest credit cards, mortgages, and secured loans. If you are in this situation, KOHO’s Credit Building is an excellent alternative for improving your credit score. When you register for Credit Development with KOHO, you would be given a KOHO Line of Credit. The credit limit of this line of finance will be determined by your risk. KOHO will take a percentage of the allotted cash each month and submit it as a payback to a large credit agency, which will improve your credit score. This company charges $7 monthly with a six-month minimum membership.

There are no foreign transaction fees

Transaction fees levied by your credit or debit card mount up over time, whether you’re traveling overseas or making foreign purchases from home. You won’t have to pay anything with KOHO Premium because it waives the regular foreign currency cost levied on items bought outside of Canada or from an overseas shop. You can get a credit card with no international transaction fees.

Price Comparison

You purchased something from KOHO and afterward discovered it for a lesser price elsewhere. KOHO Premium will immediately credit your wallet with the difference if you price match. Simply email your purchase receipts to KOHO Premium, and it will look to see if you may have obtained a better deal. If this is the case, the difference will be refunded. If you’re buying large items, this is a wonderful perk that could save you a lot.

Free Financial Advice

With KOHO Premium, you may receive money suggestions in your mailbox and plan educational workshops with a trained financial coach. Your coach can assist you in mastering all parts of your financial destiny, including basic budgeting, taxes, investing, debt repayment, and more.

Monthly free global ATM withdrawals

Those $5.00 fees from your bank for extracting your money from an overseas ATM are inconvenient and expensive. However, with KOHO Premium, you receive one free global ATM transaction per month.

Increased Withdrawal Limits

With KOHO Premium, you can withdraw $400 every withdrawal and up to $800 per day, which is twice the usual KOHO limit.

Threshold of High-Interest Earning

You may receive 1.20 percent interest on your KOHO account with KOHO Earn Interest. You can deposit up to $200,000 in your KOHO Receive Interest account and earn 1.20 percent on that value.

Select New Card Design

KOHO Premium includes a redesigned card layout that is sleeker than the regular KOHO. While we don’t recommend selecting a financial instrument based solely on its appearance, a handsome card is unquestionably an advantage of KOHO premium. This card, however, is optional; you can choose one of the four two-toned normal KOHO cards instead.

Select your Favorite Design

Conclusion – KOHO Review

To conclude our Koho Review, KOHO Premium is packed with benefits and features that place it among the effective premium, redeeming cards yet, using these services requires a subscription fee. If you do not meet this qualification, you should consider your purchasing habits and the frequency with which you would use the extra features.

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About the author

Mathew Jackson

Freelance Writer, Blogger, Online marketer, Immigration Expert.

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