The Mogo Visa* Platinum Prepaid Card is an eco-friendly credit card that’s designed to reduce your consumption and help you give back to the planet. Also known as MogoCard, this Mogo prepaid Visa only lets you spend money that you already have in your account so that you don’t go into debt or buy products you don’t need. Mogo also partners with the REDD+ Amazon Forestry Project to offset one pound of CO2 for every dollar you spend on your card.
Think about this card if you want to offset your carbon footprint and you’d prefer not to hold an outstanding balance on your card.
Choose something else if you want access to credit with a credit card.
For every $1 you spend, 1 pound of CO2 will be offset for free through Mogos Amazon Rainforest project.
The basics
If you want to save money and reduce your environmental impact, you could benefit from signing up for the Mogo Visa Platinum Prepaid Card (MogoCard).
No annual fee. You won’t have to put down any fees to sign up for this card.
Interest-free spending. This is a prepaid card so any money you spend will be money you load into your account, which means you won’t pay interest.
Carbon offsets. You’ll be able to see how much carbon you offset through your purchases and you’ll know your rewards are going towards a good cause.
Budgeting tools. You can monitor and control your spending with a number of handy in-app budgeting tools.
Mobile app. It is possible to access Mogo’s mobile app 24/7 to see your transactions and get an idea of how much impact your purchases are making.
The perks
Free top-ups. Add money to your account quickly and easily for no additional fee.
Zero liability. Protect yourself against fraudulent purchases due to the unauthorized use of your card.
Tap and pay. Sign up for Apple Pay or Google Pay to make purchases with one easy tap on the reader.
Security measures. Cards are protected with encrypted microchips and other security features like Visa payWave for online purchases.
What to watch out for
No basic insurance. You won’t get basic insurance, such as purchase protection or extended warranty, with this card.
Few perks. There are few extra perks included with this card, such as no car rental insurance, mobile device protection or travel insurance.
No welcome offer. You won’t get any opportunities to earn extra rewards as an incentive to sign up for this card.
What should I know before I apply?
Eligibility requirements
To apply for a MogoCard, you need to meet the following criteria:
Be a Canadian citizen or permanent resident who is at least 18 years old (19 in some provinces)
Have money to load into your account
Required documents and information
Your name, residential status and contact information
Your Social Insurance Number (SIN) and date of birth
Your email address and phone number
How to apply for the MogoCard
Click the green ‘Go to site’ button to sign up for a Mogo account.
Once you complete the sign up process, accept the Terms & Conditions for the MogoCard and confirm your personal information is correct.
Confirm your MogoCard order.
Bottom line
The MogoCard is an eco-friendly alternative to overspending and overconsumption. It only lets you spend money that you already have in your account, and you’ll be able to offset your carbon footprint with every dollar you spend. That said, it doesn’t offer many other perks or benefits.
Frequently asked questions about the Mogo Visa Platinum Prepaid Card
No. You won’t get a welcome offer or a chance to earn extra rewards when you sign up for the MogoCard.
There’s no limit to how much you can spend, but there are daily transaction limits and you can only hold $10,000 in your account at one time.
You won’t have to pay an annual or monthly fee to maintain this card. That said, you will pay a fee to withdraw funds from an ABM and to add money to your card when you use Canada Post. You’ll also have to pay foreign currency transaction fees and an account inactivity fee if your account goes unused for one year or more.
Yes, you can order the MogoCard from Mogo’s mobile app (available on both iOS and Android).
Claire Horwood is a writer at Finder, specializing in credit cards, loans and other financial products. She has a Bachelor of Arts in Gender Studies from the University of Victoria, and an Associate’s Degree in Science from Camosun College. Much of Claire’s coursework has focused on writing and statistics, with a healthy dose of social and cultural analysis mixed in for good measure. In her spare time, Claire enjoys rock climbing, travelling and drinking inordinate amounts of coffee.
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Mogo Visa Platinum Prepaid Card
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