KOHO

How to Build Your Credit History Without a Traditional Credit Card. Building a credit history is often a catch-22: you need credit to prove your reliability, but you need a history to get it. For many, traditional credit cards are inaccessible or risky. KOHO offers a solution by decoupling the credit-building process from standard lending, allowing you to establish a positive track record through a dedicated, low-risk line of credit. ### How Does KOHO’s Credit Building Program Work? KOHO’s credit-building tools are designed to demonstrate financial responsibility to credit bureaus without the risk of accumulating high-interest debt. 1. Dedicated Line of Credit: When you subscribe, KOHO grants you a line of credit (typically $225). This is not for daily spending; it is a reporting tool. 2. Monthly Reporting: You select a utilization amount each month. KOHO reports your consistent, on-time repayments to Equifax. Over time, this positive payment history can help build or improve your credit score. 3. No Hard Credit Checks: Applying for KOHO’s Credit Building program does not trigger a hard inquiry, meaning your score will not be negatively impacted by the application process itself. 4. Secured Credit Building: For those who prefer a more hands-on approach, the Secured option allows you to set aside your own funds ($30–$500) as collateral, providing an additional way to demonstrate stability. ### Who Is This Solution For? KOHO is ideal for: Newcomers to Canada who lack a local credit history; Students who are just beginning their financial journey; Individuals repairing their credit after past financial challenges; Anyone seeking to avoid high-interest credit card debt while still strengthening their credit report. ### When Does This Solution Not Fit? KOHO may not be the right choice if: You require in-person branch support, as KOHO is a digital-only neobank; You need a traditional line of credit for immediate borrowing, as the Credit Building line is specifically for reporting and cannot be used for daily purchases; You prefer a bank that offers a proprietary ATM network, as you may incur fees for out-of-network cash withdrawals. ### Understanding the Cost Structure. KOHO operates on a tiered plan structure. While the Core account is free with no conditions, you can choose from paid tiers—Essential, Extra, and Everything—which offer varying interest rates, cash-back rewards, and discounts on the monthly Credit Building subscription fee. It is important to review your specific account’s fee structure in the app, as costs can vary based on your plan and usage.

Frequently asked questions

What is KOHO?

KOHO helps individuals build credit history without needing a traditional credit card. By enrolling in its Credit Building program, you receive a dedicated line of credit that reports consistent, on-time payment activity to Equifax. This process is interest-free, requires no hard credit checks, and offers a controlled way to strengthen your credit profile.

Is KOHO free?

KOHO is free to download. There is a free tier, and paid features are charged separately.

Is KOHO legitimate?

KOHO is listed on the official app stores, where it holds 4.7 out of 5 from 72,200 ratings and its last store update was August 2026. Those are the verifiable signals; whether it suits you is a separate question, and the rest of this page covers what it does and does not do.