Eligibility requirements for Koho Essential credit card
☑️ Be at least 18 years old
☑️ Have a valid Canadian residence
☑️ Open a Koho account via app or website
☑️ Have a valid phone number and email
Documents needed to apply
📄 Valid government-issued photo ID (passport or driver’s license)
📄 Proof of address in Canada
📄 Personal identification details for verification
📄 Active email account for registration
Approval depends on meeting these requirements, and Koho may request additional information if necessary.
How to apply for Koho Essential credit card?
Applying for the Koho Essential credit card is fully online and straightforward. You start by downloading the official Koho app or visiting their website. After creating your account, choose the Essential plan and complete the registration with your personal details and required documents.
Once the account is active, you’ll need to make a deposit or set up a direct deposit to access all features. Approval is usually quick but may require additional verification. If your application isn’t approved right away, you can try again later without restrictions.
How to pay monthly bills for Koho Essential credit card?
Since Koho Essential credit card is prepaid, it doesn’t generate traditional monthly bills. Instead, you need to keep enough balance in your account to cover purchases and subscriptions. You can fund your account via e-Transfer, direct deposits, or bank transfers.
Any transactions or subscriptions linked to the card are automatically deducted from your balance. There are no fixed due dates as spending occurs in real-time.
Fees and costs
The Koho Essential credit card has no monthly or annual fees as long as you maintain the required monthly deposit of $1,000 or set up a direct deposit. All transfers and e-Transfers are free and unlimited. The card charges no foreign transaction fees, making it a great option for international purchases. If you activate the interest feature, your balance is protected up to $100,000 under CDIC coverage.
ATM withdrawals may incur third-party fees from the ATM owner, but Koho itself doesn’t charge extra ATM fees. Credit building is available as a paid add-on in other plans, but it is not included in the Essential plan by default.
A tip for your wallet
If you want to make the most of your Koho Essential credit card, be sure to activate the 2.5% interest feature right after signup so your balance starts growing immediately. Also, focus on spending in cashback categories like groceries, transportation, and dining to get 1% back on each transaction.
Setting up automatic monthly transfers of $1,000 will ensure you avoid fees and keep the plan free. Use the virtual card for online purchases to protect your physical card details and leverage Apple Pay or Google Pay for secure, contactless payments in stores. By following these tips, you’ll enjoy both the rewards and security offered by Koho.
Get your Koho Essential credit card today!
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