KOHO Card for Newcomers in Canada 2026 — No Credit Check Required

KOHO is a fintech prepaid Mastercard that does not require a credit check or Canadian credit history — making it the most accessible first financial product for newcomers. KOHO's credit building subscription ($7/month) reports on-time payment history to Equifax and TransUnion, helping you build a Canadian credit score from day one. KOHO also offers up to 4% savings interest on cash balances, 1% cash back on purchases, and instant notifications. For newcomers, KOHO is often recommended as a supplement to a Big Six bank account — use the Big Six for salary deposits and bills, use KOHO for credit building. After 6–12 months of consistent KOHO payments, many newcomers have a score of 650+, enough to apply for an unsecured credit card.