Back to learn
Prepaid Visa: Myths vs Reality
Rounding it up
There are many misconceptions about prepaid credit cards, like the idea that they’re the same thing as debit. This is untrue; prepaid cards come with extra perks (cash back, anyone?) that debit cards can’t offer.
Contrary to some beliefs, prepaid cards are widely accepted! You can even link them with your smartphone for Apple, Google, and Samsung Pay.
We can’t speak for other prepaid credit cards, but the KOHO prepaid card takes it up a notch with zero fees and robust protection against theft.
Plus, the KOHO card won’t let you overdraft on your account and won’t charge non-sufficient funds fees, making it a great money management tool.
Gaby Pilson
Gaby Pilson is a writer, educator, travel guide, and lover of all things personal finance. She’s passionate about helping people feel empowered to take control of their financial lives by making investing, budgeting, and money-saving resources accessible to everyone.
Recent Articles
Upcoming trip? Here's why you should use a prepaid Visa card for travel purchases
Do I need renter's insurance in Canada?
How much should Canadians save for retirement?
What is value added tax? Is there VAT in Canada?
Is it more expensive to live in Canada or the US?
Should I keep accounts at multiple banks?
Related articles
Can a non-resident get a credit card in Canada?
5 mins
Dan BuchererNon-residents and newcomers can get a credit card in Canada. Make sure you know that’s what you want before signing the dotted line!
Can a non-resident get a credit card in Canada?
5 mins
Dan Bucherer
Non-residents and newcomers can get a credit card in Canada. Make sure you know that’s what you want before signing the dotted line!
#credit
#credit card
#newcomer
#immigration
How much money do you need to move to Canada?
7 mins
Ryan SeveranceAre you thinking about moving to Canada? Here’s how much money you’ll need to qualify for a visa and thrive once you arrive.
How much money do you need to move to Canada?
7 mins
Ryan Severance
Are you thinking about moving to Canada? Here’s how much money you’ll need to qualify for a visa and thrive once you arrive.
#newcomer
#immigration
#visa
#savings
What should new Canadian residents look for in a credit card?
5 mins
Ryan SeveranceFinding the right credit card for you is never easy. Here’s what you should look for when signing up for your first Canadian credit card.
What should new Canadian residents look for in a credit card?
5 mins
Ryan Severance
Finding the right credit card for you is never easy. Here’s what you should look for when signing up for your first Canadian credit card.
#newcomer
#credit
#credit card
#immigration
A quick review of credit building products in Canada
5 mins
Chrissy KapralosGood credit doesn’t come easy, and rebuilding bad credit can take a while. Luckily, there are some great credit building products to help.
A quick review of credit building products in Canada
5 mins
Chrissy Kapralos
Good credit doesn’t come easy, and rebuilding bad credit can take a while. Luckily, there are some great credit building products to help.
#credit
#credit building
#credit card
#cash back
How can new immigrants increase their credit score?
9 mins
Gaby PilsonNew to Canada? Struggling with your credit score? Our guide discusses 8 go-to ways to build your credit score in the Great North.
How can new immigrants increase their credit score?
9 mins
Gaby Pilson
New to Canada? Struggling with your credit score? Our guide discusses 8 go-to ways to build your credit score in the Great North.
#credit
#newcomer
#credit score
#credit card
Do all credit cards have annual fees?
6 mins
Yekaterina GalanovaIt’s tempting to pick a credit card without annual fees. But wait — sometimes, a credit card with fees makes financial sense.
Do all credit cards have annual fees?
6 mins
Yekaterina Galanova
It’s tempting to pick a credit card without annual fees. But wait — sometimes, a credit card with fees makes financial sense.
#credit card
#fees
#banking
#cash back