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.
Do prepaid cards improve your credit score?
When you use a prepaid card it doesn't get reported to the credit bureaus (the big ones in Canada are TransUnion and Equifax). So, using a prepaid card won't impact your credit score positively or negatively.
What does Mogo work with to plant trees?
Mogo has partnered with BC based veritree. Veritree was started by the founders of the popular eco-clothing brand tentree. Veritree has built the world's best on-the-ground monitoring and management tool for nature-based solution projects. Veritree uses advanced blockchain technology which adds additional layers of trust and transparency to nature based solution projects to ensure there is no double counting of trees. Veritree works exclusively with verified planting partners. Veritree's goal is to use technology to rapidly accelerate nature based solutions to combat climate change.
What's the Difference Between the MogoCard and Other Prepaid Cards?
The MogoCard is a simple prepaid card that offers cryptocurrency investment options with no annual fees. The card also comes with environmental benefits, such as its tree-planting initiative.
Who Is the MogoCard For?
If you have a low credit score or wish to invest in cryptocurrency, this card is an excellent choice. The card has no annual fees, making it less expensive than other cards on the market. Furthermore, if you wish to support more environmental efforts, a card like the MogoCard is ideal.
What Are the Requirements to Get a MogoCard?
To be eligible for the MogoCard, you’ll need to meet the age requirement for your city. Visit the Mogo website to see the age requirement for the approved cities.
What Is the Benefit of a MogoCard?
Unlike most prepaid cards, the MogoCard does not require a minimum income or credit score. In addition, the opening deposit you make is refundable.
How Much Money Can I Add to My MogoCard?
You can add up to $10,000 to your MogoCard.
How Do I Add Money to My MogoCard?
There are 2 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.
- Visa Debit Transfer
- Interac e-Transfer
How Does the MogoCard Work?
You can use the MogoCard to spend money you have placed into your account to control your spending.
Who Plants the Trees?
The trees are planted by Veritree, which has partnered with Mogo. Veritree uses the newest technology to monitor and manage nature-based initiatives. With Veritree as a partner, Mogo can accelerate the planting process and monitor every stage.
Are the Trees Planted in Canada?
All the trees are mainly planted in Kenya and Madagascar. But they are working towards partnering with tree planting projects in Canada and globally.