Mastercard KOHO

No credit check. No annual fee. No interest. Build credit with your own money.

How to Increase Your Credit Limit?

The Mastercard KOHO offers a flexible approach to credit limit increases, rewarding responsible financial behaviour and active account management. Unlike traditional credit cards that rely solely on periodic reviews, KOHO evaluates your spending patterns, payment history, and engagement with financial tools in real time. Cardholders who consistently pay their balance on time and maintain a credit utilization below 30% typically see their first limit increase within 3 to 6 months of account opening. The initial credit limit generally ranges from C$300 to C$1,000 for new applicants, with potential growth up to C$10,000 for users who demonstrate strong financial discipline over time.

KOHO places particular emphasis on Open Banking integration, a feature that allows the platform to verify your income and banking activity across multiple institutions. Enabling this connection can accelerate limit increases by providing transparent proof of financial stability. Additionally, setting up automatic payments and using the built-in budgeting tools signal proactive money management—key factors in the algorithm that determines eligibility for higher limits. Cardholders who combine these practices with regular account activity often unlock premium benefits, including access to higher cashback rates and waived fees on premium subscription tiers.

Key Benefits for You

The KOHO Mastercard stands out in the Canadian prepaid market by offering up to 5% cashback on purchases at select merchants, a feature rarely seen in no-fee cards. Unlike traditional credit products, KOHO operates as a reloadable prepaid card with built-in budgeting tools, making it ideal for those rebuilding credit or avoiding interest charges altogether. The card requires no credit check for approval, and users can earn cashback on everyday spending categories like groceries, gas, and dining—funds that post directly to your account, not as points with complex redemption rules.

Beyond cashback, KOHO provides instant spending notifications, automatic savings round-ups, and free credit score monitoring through Borrowell, helping you track financial health without subscription fees. The platform's app-based interface lets you set spending limits by category, freeze the card instantly if misplaced, and access funds via free Interac e-Transfers. For frequent users, the premium tiers unlock perks like higher cashback rates (up to 5% vs. 0.5% on the free plan), travel insurance coverage, and no foreign transaction fees—benefits typically reserved for cards with annual fees exceeding C$120.

Credit Card Comparison

When evaluating prepaid and reloadable card options in the Canadian market, the KOHO Mastercard stands out for its transparent fee structure and genuine cashback rewards on everyday purchases. Unlike traditional credit cards that require credit checks and charge annual fees ranging from $120 to $199, KOHO operates as a spending account with no hidden costs and up to 5% cashback at selected merchants. The card's instant virtual issuance and budgeting tools make it particularly attractive for newcomers, students, and anyone rebuilding their financial profile without the pressure of interest charges.

Competitive alternatives include products with reward programs tied to specific retailers or travel partners, yet few match KOHO's combination of no credit check requirement and real-time expense tracking. Cards offering 1% to 2% cashback often impose minimum income thresholds or require a credit score above 660, while KOHO's prepaid model ensures approval for virtually all applicants. For households managing tight budgets, the ability to round up purchases to savings and access budgeting insights directly in the app delivers tangible value that extends beyond points accumulation.

Which Credit Card is Better for You?

Choosing between the KOHO Mastercard and competing no-fee cards often comes down to your spending habits and the value you place on cashback versus rewards flexibility. KOHO typically appeals to users who prioritize no annual fees, transparent budgeting tools, and straightforward earn rates on everyday purchases—without the complexity of points programs or rigid category caps. On the other hand, cards like the Tangerine Money-Back or the PC Financial World Mastercard may offer higher base rates in specific categories (groceries, gas, recurring bills), making them attractive if most of your spending falls neatly into those buckets.

The interactive comparison below lets you pit KOHO head-to-head against a rival card across five core categories: fees, earn rate, acceptance, perks, and approval ease. Each dimension is scored 0–100, and the tool crowns a winner per category—then tallies an overall champion. If KOHO wins, you'll see a direct path to apply; if the competitor edges ahead and we've reviewed it, you'll find a link to that card's dedicated analysis. This side-by-side scoring cuts through marketing jargon and highlights which product genuinely fits your financial profile.

Will I Get Approved?

Approval for the Mastercard KOHO follows a different path than traditional credit cards. Since it's a prepaid reloadable card, there's no credit check required and no minimum income threshold. You simply load funds onto the card and spend what you've deposited. However, if you're considering upgrading to KOHO's credit-building features — like the KOHO Cover overdraft protection (up to C$250) — the company may review your banking history and account activity. Your approval chance for the base card itself is nearly 100%, as long as you're a Canadian resident aged 18+ with a valid ID.

For those exploring credit-building tools or the premium KOHO plans (which unlock higher cashback rates and overdraft limits), factors like your existing relationship with KOHO, deposit frequency, and whether you have outstanding debts or negative banking records can influence eligibility. The calculator below estimates your approval likelihood for the full suite of KOHO features — including overdraft and premium tiers — based on your financial profile. Even if your score is moderate or low, the base prepaid card remains accessible to almost everyone, making it an ideal entry point for rebuilding or establishing credit in Canada.

The Mastercard KOHO stands out as one of the most accessible financial tools in Canada, offering a true gateway for those rebuilding credit, new to the country, or simply seeking zero-fee spending with instant cashback. Unlike traditional credit cards that demand high scores and stable income, KOHO's prepaid model removes barriers — you control your spending with loaded funds, earn up to 5% cashback at partner merchants, and gradually unlock features like overdraft protection (C$250 with premium plans) and free credit score monitoring. For everyday use, travel, and budgeting, it delivers flexibility without the risk of debt or interest charges, making it a smart choice for Canadians at any credit stage.