Mogo Card Review (April 2024) – Pros, Cons, Features, & Pricing

The Mogo Visa Platinum Prepaid Card, also known as the Mogo Card, is an excellent alternative to regular or traditional credit cards from your local bank or financial institution.  

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Last Updated: Apr 14, 2024

Mogo Card

  • Plant a tree with every tap
  • Save $201 per month, effortlessly
  • No debt. No credit impact.

MogoCard's a free prepaid card so you'll always buy now, pay now to stay on top of your spending and out of debt - Claim this offer

This Mogo card review shows that one of the main features of this card is collecting rewards for Bitcoin cashback to start your cryptocurrency investment.

Mogo is a highly reputable company, which offers a variety of services and innovative financial products for everyone, whether you’re looking to earn generous cashback rewards or signing up for your first card.

Secured or prepaid credit cards are growing more popular, and there are no annual fees. This Mogo card review is a good option for anyone looking to avoid these types of fees.

What makes the Visa Platinum Prepaid Card a good option?

The Mogo Card review recommends this card as one of the few cards available that offer cashback rewards to earn Bitcoin for cryptocurrency investments. It’s a prepaid card, so you can establish or improve your credit over time while starting your first Bitcoin account and earning rewards for your digital currency investment.

You can even earn rewards and help the environment by replacing your other card transactions with your MogoCard. Earn 50 Satoshi rewards with every tap of your MogoCard.

This Mogo Card review is a unique product in that it reduces the carbon footprint with ongoing investments in environmental causes, such as the Amazon rainforest rewarding customers with cryptocurrencies.

In effect, when you use your Mogo card to purchase an item that uses CO2 during production, Mogo will offset one pound of CO2 with every dollar you spend.

Pros and Cons of Mogo Visa Card

Before you apply for the Mogo Visa Card, there are some essential advantages and a few drawbacks to review. You’ll find the fee structure and card benefits are easy to understand, without any expensive charges.

This Mogo card review covers everything you need to know and expect when you sign up for this product and what to expect when you use it.

+ No annual fee
+ Access the Mogo app
+ Start investing in Bitcoin
– Potential ATM fees
– Possible high rates

Advantages of the Mogo Card

The first advantage most people enjoy about the Mogo card is no annual fee. Most traditional cards charge annual fees automatically deducted from your bank account, and often when it’s least expected. The Mogo Card has no monthly or annual fees, and there are no charges to reload your card when you need to use it.

Once you start using your Mogo card, you’ll have access to the Mogo App, which offers a budgeting tool and helps you control your finances and spending habits. You’ll also enjoy an impressive level of security so that your card is automatically frozen if any unauthorized use is suspected.

The Mogo Visa card is the ideal product for starting your first cryptocurrency investment, and you’ll find a lot of support and security when you open your first Bitcoin account.

The generous cashback reward offers a great incentive to grow your Bitcoin account while you enjoy all the card’s features for everyday purchases and savings.

Drawbacks of the Mogo Card

The Mogo card review uncovers a few disadvantages, essential to keep in mind when you sign up for this product.

While Mogo doesn’t charge any fees, and rates are relatively low, you may incur higher fees from third parties, such as other financial institutions or companies, including Canada Post. While the card is available across Canada, it is not yet registered in Quebec.

This Mogo card review includes many great features, though the range of services is limited compared to other credit cards.

The card primarily works through third-party companies or vendors, which means you’re likely to pay extra fees as a result. While the card is an excellent alternative to traditional credit card products, there is no guarantee it will restore or improve your credit rating.

If you plan to use your Mogo card frequently to withdraw from an ATM or make purchases, you may see extra charges.

For this reason, it’s crucial to plan how you use your card and monitor any fees you notice on your statement. This Mogo card review offers some distinct advantages, but outside charges can add up over time.

While Mogo’s prepaid card is a unique product, it generally doesn’t work on a practical level for daily purchases. The range of options is average, or a bit less than comparable products, though it’s a good choice for anyone who wants to invest in cryptocurrency and accumulate rewards.

What are the Mogo Card features?

One of the most outstanding features this Mogo card review highlights is the connection to cryptocurrency. It’s also a great way to earn cashback Bitcoin, so you can increase your investment by making small purchases regularly.

The Mogo Visa card is prepaid, one of the best ways to improve a poor credit rating or establish credit if you have no previous history.

Cost of using Mogo card

There are few fees when using the Mogo card, which is a great advantage. The card can be a gateway to other Mogo products while saving you the extra cost of annual and monthly fees, which are familiar with other credit cards and similar products.

If you’re planning on using your Mogo card for many purchases, it’s essential to monitor any additional fees you may incur, as they can be high. If you have more than one prepaid credit card, use your Mogo card when you want to accumulate Bitcoin cash back rewards or contribute to offsetting the carbon footprint.

Who is the Mogo card for? Should you use a Mogo card?

If you’re looking to establish credit, start a cryptocurrency account, and apply for a small loan, you’ll find many great options when you sign off for this product. Mogo is an ethical company, which helps offset your carbon footprint and supports more environmental initiatives.

Ideally, this Mogo card review recommends that anyone looking for a practical, easy-to-use prepaid card for purchases and interest in Bitcoin may want to register.

The application process is quick and easy, and the fees only apply when you use foreign exchange services or third parties.

If you’re looking for a unique type of prepaid product, you may find what you want in the Mogo card, as it offers some exciting feature that isn’t common with other prepaid Visa and Mastercard products.

Not sure if the Mogo card is right for you? Alternatives to Mogo card you can consider

The Mogo card review offers many great options for members, though if you’re not interested in investing in Bitcoin or find the card isn’t a good fit, there are some great alternatives for prepaid credit cards. Koho Visa and Stack Mastercard are excellent options to consider when you’re shopping for similar products.

The Mogo card tends to charge higher fees for foreign exchange, while other cards have lower fees or none for this service. Both Koho and Stack offer sign-up referral bonuses, which are a great incentive if you know a friend or family member who wants to open an account.

These two alternatives do not offer cryptocurrency cashback or carbon emission offset, though they provide other features you may be looking for in a product.

The Koho Visa offers a credit-builder program, which helps people with poor or no credit to re-establish a positive credit score for future lending products and loans.

While Mogo and Stack may improve credit, neither of these companies distinctly offer credit repair programs for clients.  Koho is an ideal choice for anyone specifically looking to improve their credit score.

Koho and Stack offer automatic savings by rounding up each purchase you make with these cards and setting them aside for future investments.

You’ll find that every card offers a slightly different benefit, which makes it easier to choose your product, and collect the types of rewards or benefits you want.

All three products are held in trust with a partner bank, People’s Trust, and generally offer excellent security features for your account and access to your savings.

The main difference between Mogo cards and Koho and Stack cards is that digital currency offers cashback options. Koho offers a joint account feature if you’re looking to add a second account holder or share the benefits with a family member or spouse.


The Mogo card review offers some unique advantages for prepaid card customers, which vary from other prepaid Visa and Mastercard products.

One of the best features of these cards is the ability to monitor your spending and avoid damaging your future credit. In contrast, individuals with poor credit have a chance to use their own money and establish a better rating.

Suppose you’re keen on exploring alternatives in investing, such as cryptocurrency. In that case, you’ll find Mogo products are ideal for starting you on the right path while offering you an easy card to use and earn rewards for your digital currency investment.

It’s also a fantastic way to sign up with an ethical company that aims to reduce the impact of carbon emissions, one purchase at a time.

Before you apply for a new card, consider all factors of this Mogo card review. It’s essential to review the benefits of all available prepaid credit cards to determine which option is the best fit for your spending habits, financial goals, and values.

This Mogo card review recommends considering this card if you have specific goals for digital currency investments and minimize your fees.

MogoCard Features

How To - Comparewise

Save money and the planet with the MogoCard. Fight climate change with the Mogo Visa Platinum Prepaid Card, the only card that's as good for your wallet as it is for the world.5 minutes

How To - Comparewise
Plant a tree with every tap

You can save money while helping save the planet with the MogoCard. Every time you use the card, you’ll plant a tree.

How To - Comparewise
Save $201 per month, effortlessly

Two thirds of MogoCard users report spending less when using the MogoCard, with some users reporting an average savings of $201 per month and 91% say the card gives them better spending control, according to a recent Mogo survey.

How To - Comparewise
No debt. No credit impact.

Since the MogoCard is a reloadable prepaid Visa Card and not a credit card, you won't rack up debt or impact your credit score and there is no minimum income required to get started.

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FAQs about MogoCard

What is a MogoCard?

The Mogo Visa Platinum Prepaid Card, otherwise known as the ‘MogoCard’, is a reloadable, prepaid Visa card offered by Mogo.

How do I get a MogoCard?

Easy! Just sign up for a MogoAccount. If you already have a MogoAccount, just download the Mogo app and visit the Card dashboard! Once you have ordered the card, you can expect to receive it in about 10 business days.

How do I add money to my MogoCard?

There are two simple options for adding money to your MogoCard. Please note you can't load your MogoCard with a "credit card".  You can transfer money from your bank account with an Interac e-Transfer or via your bank ATM Visa Debit card.

What will it cost to use my MogoCard?

The MogoCard is a free rewards card that’s as good for your pocket as it is for our planet. The MogoCard can help make it easier for you to control your spending and stay out of debt. Plus, it includes a free credit score and free identity fraud protection (to keep these features active, simply use the card at least once every 90 days).

What are the MogoCard's spend and cash withdrawal limits?

There are limits on the amount of money you can spend or withdraw from your card at one time. Here’s a breakdown:

 Description   Limit
 Maximum amount of any one purchase   $3,000
 Maximum amount of purchases in any 24 hour period   $5,000
 Maximum cash withdrawal amount per transaction   $500
 Maximum cash withdrawal amount per 24 hours   $500

September 26, 2022
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