We all love credit cards for the points and perks we get when we spend money . . . but is it truly free, or is it costing us more than we think?

In 2018, Canadians had an average of $4,154 in credit card debt. With an average interest rate of 19% on these cards, it implies that Canadians pay an average of $750 in interest per year!

Meanwhile, based on average Canadian consumer spend of $2,000 per month, the very best cash-back credit cards are only expected to return $480 in cash per year, and the best travel cards are expected to give $780 in annual rewards.

This means as Canadians we are racking up more interest than what we're earning in points.

On the other hand, KOHO helps users reduce their spend, save more and it's impossible to owe us interest.

If KOHO helps users reduce spend by even just 5%, that could mean $1,200 in savings, plus $114 in RoundUps per year (assuming the same $2,000 consumer spend per month).

We're building KOHO so that you can have a real alternative that actually helps you save instead of profits off your debt. 

Learn more about RoundUps here.

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