Featured KOHO reviews
Honest feedback from actual members.
KOHO Credit Building
Build a stronger credit history with consistent credit reporting.
- Subscribe to Credit Building
- We report your payments to Equifax
- Build credit without accumulating debt
- Improves the "payment history" part of your credit score (about 35% of your total score)
- Most see results within 3-6 months*
- Perfect for newcomers to Canada or people rebuilding credit at any stage
How Much Does KOHO Credit Building Cost?
The perfect plan for your needs | |||
|---|---|---|---|
Everyday | |||
| Unlimited cash back on groceries, transportation, food & drinks | 1% | 1.5% | 2% |
| Earn interest | 2.5% | 3% | 4% |
| Unlimited cash back on everything else | 0% | 0.25% | 0.5% |
| Up to 6.5% extra cash back | |||
| Metal Card | - | - | |
| Personal Phone Support | - | - | |
| Spending Insights | |||
| Withdraw or deposit cash at anytime | |||
| Unlimited transactions | |||
| Savings goals + Roundups | |||
| Priority Support | |||
| Free real-time e-transfers | |||
Credit Building | |||
| Discount on Credit Building | - | 30% | 50% |
| Free Credit Report | - | - | |
| Free Credit Score | |||
| Cash Advance | |||
Renters | |||
| Earn cash back on rent payments | - | - | |
| Rent Reporting to Build Credit History | |||
| Tenant Insurance add on*** | |||
Travel | |||
| No Foreign Transaction Fees | - | ||
| No International ATM fees | - | 1st Free | 1st Free |
| Free eSIM | Access | 1GB free every month | 3GB free every month |
| Travel Insurance add on*** |
* Get Essential for free! Learn more
**This is an estimate. Actual savings may vary depending on individual spending habits and service usage
***KOHO has partnered with Walnut Insurance as the official insurance provider. For more information visit: https://www.gowalnut.com/ca/koho
The Benefits of Using KOHO Credit Building
Accessibility
Simplicity
No complicated forms or credit check required to get started
Transparency
No added debt needed
Monthly reporting
Digital-first approach
What Do Canadian Customers Say About KOHO Credit Building?
Our members value transparency, which is why we share balanced feedback. Here’s what customers appreciate:
Quick in-app sign-up and management, without credit score impact
Earning cash back with the KOHO card while building credit history
No interest payments on the Credit Building
Common concerns addressed
Why pay $5-10 monthly when free alternatives exist? Because we build your credit without adding debt or interest. Our members choose predictable fees over unpredictable debt. You're investing in proven credit building, not risky borrowing.
In just 4 months, the average member's score climbs 31+ points*** through improved payment history, though a well-rounded credit score also depends on credit utilization and credit mix.
Our service supports those who want to build their at every stage, from newcomers and students establishing credit to those rebuilding after financial setbacks.
Understanding your credit report is a helpful first step. This feature can help strengthen your payment history and adds diversity to your credit mix, adding to any steps you're taking with existing debts. We're here to support your progress moving forward.
Is KOHO legitimate?
Yes, we're the real deal. We deliver legitimate, innovative financial services Canadians can rely on to make money progress.
Regulated
KOHO partners with Peoples Trust Company, a federally regulated Canadian financial institution
Real credit reporting
Your Credit Building payments are reported to Equifax, a Canadian credit bureau, creating legitimate credit history
Transparent
Your free in-app Credit Report explains impact on payment history
Proven results
Thousands of Canadians have established or improved credit history using KOHO
FAQS
Absolutely, KOHO was built with your financial safety as a priority. Your funds are safeguarded through our partnership with Peoples Trust (a federally regulated bank), with up to $100K eligible for CDIC protection when you opt in to Earn Interest. We've invested in top-tier cybersecurity including firewalls, endpoint detection, and 24/7 security monitoring to protect your account. Additionally, your KOHO prepaid Mastercard comes with Mastercard's Zero Liability Protection for extra security.
We charge a small monthly fee because Credit Building costs money to run. The fee covers things like setting up your account, reporting your payments to credit bureaus, and keeping everything running smoothly. Unlike big banks with hidden fees, we keep our price low and honest.
In order for you to use the Credit Building line of credit, you’ll need to sign up through the KOHO app. Tap the Profile icon in the top left corner, scroll down to Credit Building, and follow the steps.
Once you’re set up, you’ll get access to a $225 line of credit with no interest.
To withdraw from the line of credit, tap the Profile icon, scroll to Credit Building Utilization, tap the three dots (...), and select “Transfer.” Confirm the amount you want to withdraw, verify with the code sent to your phone, and the money will arrive in about 96 hours.
KOHO offers a Credit Building program that can help. This program reports your on-time payments to Equifax (a major credit bureau), helping build your credit history. Many users have reported score improvements after 4 months of using this service consistently.
No, KOHO's Credit Building programs do not require a hard credit check for approval. This makes them accessible options for people with limited or damaged credit histories who are looking to build or rebuild their credit.
Yes, KOHO Credit Building programs are available to eligible customers throughout Canada. You'll need an active individual KOHO Account (not a joint one), a subscription to KOHO Credit Building, and you'll need to have completed the necessary identity verification requirements.
No, KOHO reports only to Equifax. When you use KOHO's Credit Building program, your payment activity is reported to Equifax (one of Canada's major credit bureaus), but not to TransUnion.
*Credit scores are based on complex models involving a variety of factors. Consistent on-time payments help improve scores. Missed or late payments may cause credit scores to decrease. Outcomes may vary among users.
**Testimonials provided are a representation of individual experiences and are not intended to guarantee a similar outcome. These are unedited for minor editorial changes for the sake of grammatical corrections and brevity. In come cases names may be changed to protect privacy.
****Based on users with a starting score of 500 or less and who signed up for credit building in October 2024. Credit Building is not a credit repair tool and does not guarantee an improvement in credit score. Credit scores are based on complex models involving a variety of factors. Consistent on-time payments help improve scores and missed or late payments may cause credit scores to decrease. Outcomes may vary among users.