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Promo Detail: Refer a friend to KOHO and we’ll give you both $20 each! Think of it as our little welcome gift.
How to build credit history?
They’ll open a line of credit, dedicated to credit building.
Make a payment every month.
Each on-time repayment builds credit history, which helps your score.
What happens if I miss a payment?
Just as making your payments on time will positively impact your credit, the inverse is true. Not making your payments on time will hurt your credit score.
How do I earn the extra cash back?
It’s easy! Just use your KOHO card as you normally would at participating partners and the extra cash back will automatically be added to your account within 1-2 business days.
Do I still get my usual cash back with each purchase?
Yes! You'll still receive the regular cash back you were earning (including the 2% extra you get with Premium). This partner-specific cash back is in addition to your normal cash back.
Could the interest rate change?
Don’t worry, the 1.2% interest rate* they offer is not an introductory rate, or a rate that expires. The same rate will be available to all users, new or existing. For transparency, it’s possible that the interest rate could change if the rates made available by their Service Providers change. This could happen, for example, if the Bank of Canada announces an interest rate decrease or increase.