Compare KOHO Financial Credit Cards

To choose a credit card with our comparison tool, you need to, first, determine its purpose. If unable to pay in full the card balance each month, click on “Offer Type” on the left sidebar and select “Low Interest Rate”. If you wish to obtain rewards, select “Rewards,” and enter your annual income, in order for us to recommend the best card for you. Do not hesitate to use the other filters, and click on “more details” when you want to know more about a specific card.

If you find it difficult to pay your credit card in full, it is possible to transfer your balance to a low-interest-rate credit card. Financial institutions offer interest rates from 0% to 4%, for a period of 6 to 10 months on average. To obtain this card click on “Offer Type” on the left sidebar and select “Low Interest Rate”.

If you have a bad credit history, it is still possible to obtain a credit card, but the financial institutions mayl ask you for a deposit. In the filter on the left side bar, click on “Offer Type” and select “Build my Credit Score”. Generally, even if your credit score is not good, or if you have no credit history, you can still obtain a credit card, but with a small credit limit, usually around $500.

If you pay the entire credit card balance at the end of each month, you will pay zero interest on the current month’s purchases. On the other hand, if you pay your balance partially, you will have to pay interest on the entire amount appearing on your credit card. If you think that you won’t be able to pay your credit card balance in full each month, it is recommended to use a debit card linked with a checking account.

Credit Cards work by giving you instant access to a loan. Every time you make a purchase with your credit card, you borrow money. Your credit card comes with a credit limit; the maximum amount of money you can access. When you use your credit card to make a purchase it reduces the amount of credit you have access to. The balance you owe on your credit card accrues interest and you are required to make a minimum payment each month to keep the account in good standing. Your credit card company will send you a monthly statement detailing how much credit you have used, how much you have left, transaction history and your minimum payment due.

To calculate the amount of credit card interest you will pay each month on your balance, you need to break down your Annual Percentage Rate (APR) to a monthly rate. To do this, divide your APR by 12 because there are 12 months in a year. For example, if you carry a credit card balance of $1000 each month, and your APR is 19.99% you would do this:

1. 19.99% / 12 = 1.7%
2. 1.7% / 100 = 0.017
3. $1000 x 0.017 = $17

A credit card with a $1000 balance owing will cost you $17 of interest per month. Having said that, credit card interest is compounded daily based on your average daily balance. If you don’t pay your balance off in full every month, It’ll cost you a lot more than $17.

CVV stands for Card Verification Value. It is the 3 to 4 digit number on the back of your credit card, typically found beside the signature box. It acts as a security code to protect your credit card against fraud. Never confuse your CVV number with your 4 digit Personal Identification Number (PIN), they are not the same. When you make an in-store purchase at a point-of-sale machine, you will often be asked to enter your 4 digit PIN number. However, the CVV is used for online purchases. The CVV protects you against fraud by confirming your credit card is legitimate, belongs to you, and is in your possession.

Carefully review your statement each month and act fast when you spot an error. If you are unsatisfied with how the credit card company handled your dispute, you can escalate it to an External Complaints Body (ECB) such as ADR Chambers Banking Ombuds (ADRBO) and Ombudsman for Banking Services and Investments (OBSI).

There is no “best credit card” in Canada. The best credit card is one that meets your needs and aligns with your spending habits and financial goals. People who love to travel tend to choose credit cards that offer competitive travel rewards. Others prefer the flexibility that cash back credit cards offer. Those who can’t pay their balance off in full each month often prefer a low-rate card. Use the Hardbacon Credit Card Comparison Tool to find the right card for your needs.