KOHO Mastercard
KOHO is a fintech company based in Canada that offers a variety of financial services through its app. Among its features, the credit building tool stands out as a premium feature aimed at improving users’ credit histories.
✅ No interest charges — since it’s prepaid, you never pay interest.
✅ Earn up to 2% cashback with select KOHO plans (e.g. groceries, transportation, restaurants).
✅ Free standard account or optional premium plans for extra perks.
Pros of KOHO’s Credit Building
- Debt-safe credit history building: KOHO’s feature allows users to build credit history without the risk of accumulating debt.
- Credit utilization reporting: Proper credit utilization is reported to credit bureaus, which can improve your credit score.
- Interest on all money: Users earn interest on their balances, adding another financial benefit.
- Credit score improvements: Many users report increases of 20 to 100 points within six to nine months.
Optimizing Your Credit Score
To maximize the benefits of KOHO’s credit building, it’s important to address any outstanding financial issues that might be affecting your credit score. This includes paying off overdue bills and managing debt responsibly.
Additionally, using credit monitoring services like TransUnion can provide insights into your credit status and help you identify areas for improvement. While such services might come with a fee, they offer valuable information that can aid in making informed financial decisions.
Sign Up for KOHO Now and Get Your Free Mastercard!