KOHO Prepaid Credit Card Review

KOHO Review: Being a rational human being how one could deny extra cashback? Yes, KOHO Prepaid Visa has developed a Premium benefit to the customers by the worth of 2% cashback on their purchases. It is one of the best student credit card in canada.

Isn’t this delightful? This article will walk you through the objectives, advantages, as well as disadvantages of the KOHO Prepaid Visa Premium, also devised variants between regular & premium.

For all of it and more read the article till the end!

KOHO Review – KOHO Prepaid Visa Card Review

KOHO is a Canada-based enterprise and it is a blend of various financial services under the collaboration of People’s Trust to which Canada Deposit Insurance Corporation is intended to ensure the trust with insurance at the time of emergency. It was established in the year 2014 by Daniel Eberhard as KOHO Financial Inc.

KOHO Visa Card enables the customers to make their payments or purchases just as a credit card but instead of charging interest the card rewards you with a cashback of 0.5% to 2.0%. It basically acts like a chequing account that reloads the amount into the customers’ accounts rendering unique benefits under three types of pricing plans.

Features – KOHO Visa Card (KOHO Prepaid Credit Card)

Advancing Limits & Reload options

• A maximum limit for load and deposits is 20x on daily basis and 60x monthly basis.
• It also includes transfers through electronic and direct deposits as well.
• The maximum deposit amount is $10,000 on daily basis and $40,000 monthly basis.

Disposal/Spend and Withdrawal Limits

• The maximum limit for one user to spend is $3000 on daily basis and $30000 monthly basis.
•  Possibility of only 15 transactions per day.
• The maximum limit for one user to withdraw in any kind is $300.

KOHO Savings Interests

• KOHO offers a 1.2% interest rate on savings deposited by the customers.
• It also charges zero fees.

Approval Period

• KOHO takes only 10 days for the approval of credit cards.

Premium V/S Regular – KOHO Credit Card Review

KOHO Regular Visa Review

Basically, it is the primary plan through which a customer commences uplifting the related benefits of the KOHO Visa Regular Card. Following are the features of the regular plan:

• KOHO provides free service to the customers enrolled under the plan.
• It charges zero cost to the customers for opening an account including a card.
• It facilitates the customers to collect the scattered savings in one place.
• The institution is known for its cashback rewards to the customers of 0.50% on particular purchases.
• The customers will also have the potential to lock his/her card in the KOHO application.

KOHO Premium Card Review

It is a superior plan among the other two with the exchange of money on a monthly/yearly basis as it facilitates huge benefits such as:

• KOHO charges $84 per year/ $9 per month to enable access to a premium account.
• Additionally, it also provides 30-day free trial for the freshers.
• It rewards a cashback of 2% on transportation, groceries & restaurants.
• It provides assistance of financial coaching for free to the customers.
• It allows international ATM withdrawal monthly once for free of cost.
• In addition to which it also has a feature called price matching.

The Joint Plan

It is one of the core plans as it enables the customers to open a joint account and uplift all the benefits similar most to the basic plan such as

• It rewards a cashback of 0.5% on all the purchases
• It also enables them to share their finances easily among the partners.
• Simultaneously, collaborative saving targets.
• Instant updates in the form of notifications when any of the partners spend.

KOHO Eligibility & Application Criteria:

In order to get enrolled in any of the above mentioned all you need to do is just go along with the following steps that include eligibility information and application process:

Step 1: Visit the KOHO website and open an account by entering your email ID and password.

Step 2: Choose any color for your card from the color scheme.

Step 3: You will be asked to enter your personal information such as name, address, workplace, and others.

Step 4: Make sure to confirm your mail address as the card will be sent accordingly.

Step 5: In order to install and set up a KOHO account follow the link provided through your mail.

Conclusion – KOHO Review

The article has covered the commencement and creative plans of KOHO Financial Services. It has also focused on various features of the three plans in particular. Above all, it has also portrayed a clear picture of the KOHO Visa Card by listing its key features. The article got concluded with eligibility before you apply and also the necessary steps to apply.

If you are the one who had great experiences with KOHO & KOHO Visa Card services please do share them in the comment box below!

KOHO REVIEW – VIDEO

Borrowell Review – How Does Borrowell Work?

Borrowell is the largest online lender in Canada with a good credit score since 2014. Borrowell helps thousands of Canadians easily access loans that suit their financial profile. If the user has a minimum credit score, Borrowell will quickly let all loan options that apply. The user can choose the tier on a three or five-year term. The user now needs to upload a notice of assessment from the last two tax returns even a picture of it, is allowed.

In the next step, Borrowell verifies the user’s bank account suing VERSAPAY. To verify, a small deposit will be deposited into the user’s bank account.at this stage, the user will get an email regarding his verification and a final review will be mailed. After his acceptance of the loan, the total amount will be deposited in the user’s account. All these will take about three days without any wasted time.

How to Repay the Loan? – Borrowell Review

Automatic monthly payment from the verified bank account is made to the borrower. An email will be sent to the user before the payment is removed. The user can also pay the total amount at any time in the process without any penalty. If the user doesn’t have enough money in the account to pay, then the user will be charged $25. The interest rate on loans ranges from 5.6% to 29.19%.

Eligibility For Borrowell – Borrowell Review

To get a loan the criteria required:

• One must be a Canadian citizen or resident.
• The age mentioned varies by province.
• A valid account with a Canadian bank.
• Valid email address.
• The credit score of about 660.
• No bankruptcy.
• Minimum credit history of 12 months and a yearly income of at least $20000 before taxes.
  

Is Borrowell Legit & Secure? – Borrowell Review

One of the biggest about online lending, in general, is security. Borrowell states that ‘the security of user’s information is their utmost priority and they spend a lot to assure security. It is legitimate and uses advanced 256-bit data encryption and uses similar technology as a traditional bank.

Borrowell – Free Credit Check

Borrowell provides the user with his Equifax credit score which is free of charge.it also provides recommendations and personalized credit coaching to the best financial products. The Equifax credit score is based on Equifax’s proprietary model and may not be the same score used by third parties to assess users’ creditworthiness. In addition to the credit score, other information is also considered to evaluate creditworthiness. The score provided is the Equifax risk score, ERS 2.0. Weekly updates on the core, credit score, and tips to increase score will be updated.

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Borrowell Benefits (Borrowell Pros)

• Bank-level security with 256-bit encryption.
• checking credit score with Borrowell is free.
• Personalize financial product recommendations.
• Free weekly credit score and improvement tips are recommended.
  

Conclusion – Borrowell Review

As the interest rates charged in Borrowell are fair and free for signing, many Canadians prefer to borrow for their business or personal loans. Though If you have an excellent credit score and own a substantial portion of your house, borrowing money at a cheaper rate than what Borrowell is offering is easy. However, many Canadians don’t have excellent credit or hundreds of thousands of dollars worth of equity built up in their homes. Borrowell allows these Canadians loans quickly and easily. And the security provided is one of the main reasons for its greater impact.

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