Mogo Visa Platinum Prepaid Card Review March 2021 | Finder Canada
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Mogo Visa Platinum Prepaid Card review

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Reduce your carbon footprint and have a positive impact on the environment with this eco-friendly prepaid card.

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.

Please note: All information about Mogo Visa Platinum Prepaid Card has been collected independently by Finder and this product is not available through this site.

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. This card 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.

30-second take

  • 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 or you’d prefer to earn cash back or travel rewards.
  • There are no minimum income requirements for this card.

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.

  • 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 cash back or personal rewards. You can’t exchange the points you collect for cash back, merchandise, travel or other rewards.
  • No basic insurance. You won’t get basic insurance, such as purchase protection or extended warranty, with this card.
  • Few perks. There are very few extra perks included with this card, such as 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 Mogo Visa Platinum Prepaid Card, 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 and date of birth
  • Your email address and phone number

How to apply

  1. Go to the Mogo site to be directed to the Mogo Visa Platinum Prepaid Card application.
  2. Complete the application, which includes providing your name, email address, Social Insurance Number (SIN) and birth date.
  3. Review and submit your application.

Bottom line

The Mogo Visa Platinum Prepaid Card 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, so you’ll need to be happy with limited rewards.

Compare other credit cards

Name Product Monthly fee Cost per transaction Foreign transaction fee Rewards with this card
KOHO Prepaid Visa card
$0
$0
1.5%
0.5% cash back
Use promo code FINDERCODE and receive a bonus of an additional 1% cash back for the first 90 days after activation (on top of the regular 0.5%, for a total of 1.5% cash back).
KOHO Joint Prepaid Card
$0
$0
1.5%
0.5% cash back
Use promo code FINDERCODE and receive a bonus of an additional 1% cash back for the first 90 days after activation (on top of the regular 0.5%, for a total of 1.5% cash back).
KOHO Premium Prepaid Card
$9/month or $84 annually
$0
0%
Up to 2% cash back
Earn 2% cash back on transportation, grocery and restaurant purchases. Plus, get a 30 day free trial. Use promo code FINDERCODE and receive a bonus of an additional 1% cash back for the first 90 days after activation (on top of the regular 0.5% for other purchases, for a total of 1.5% cash back).
Refresh Financial Secured Card
$12.95 annually + $3/month maintenance fee
$0
3.5%
N/A
Take advantage of a low annual fee, with no credit check and guaranteed approval once you secure your card with some funds. Secure your card with anywhere from $200 - $10,000.
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Frequently asked questions about the Mogo Visa Platinum Prepaid Card

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