How Kova works

1. 1

   Tell Kova about you

   Your province, your income, whether you’re a first-time home buyer, and the contribution room on your notice of assessment. Anything you’re not sure of can stay blank.
2. 2

   Connect your accounts

   Banks, credit cards and investment accounts, read-only through Plaid. Kova never sees your bank password.
3. 3

   See what each change is worth

   A ranked list with the estimated value of each change per year. It updates as your accounts sync.

Kova ranks cards by their estimated net value for your spending: what each card would have earned on your purchases, minus its annual fee.

1. 1

   Sort your purchases

   Kova sorts your purchases the way card networks code them. It needs at least 3 months of sorted purchases and uses up to 12.
2. 2

   Apply Canadian merchant rules

   Loblaw grocers such as No Frills and Real Canadian Superstore don’t take American Express, so that spending stays on your current card. Costco warehouses take Mastercard only and count as warehouse spending, not groceries.
3. 3

   Work out each card’s yearly value

   Rewards by category, including any category caps, minus the annual fee. Spending a card can’t be used for stays on your current card, and both fees are counted.
4. 4

   Rank by that value

   Welcome offers are shown separately and never change the order. Expired offers are left out.

If Kova doesn’t know your current card, it compares against a card that earns a flat 1% with no annual fee. Card terms are checked against each issuer’s own pages, and terms not checked in the last 90 days aren’t used. Applying usually triggers a hard credit inquiry. Kova is paid only by your subscription. No bank or card issuer pays us for recommendations.

Kova works through the same order for everyone, using your answers and the room you entered. A step appears only when it applies to you.

1. 1

   Debt at 8% interest or more

   Paying it down comes before saving. If Kova doesn’t know a debt’s rate, debt still comes first.
2. 2

   Your employer’s match

   If your employer matches group RRSP contributions, getting the full match comes next, within your RRSP room. It comes before debt only when Kova estimates the match is worth more than paying the debt first, and the comparison is shown.
3. 3

   FHSA, if you’re a first-time home buyer

   You qualify if neither you nor your spouse or partner lived in a home either of you owned this year or in the past four years. An FHSA gives a deduction going in and a tax-free withdrawal for your first home.
4. 4

   RRSP, if your tax rate is 33% or more

   That’s from about $107,750 of income in Ontario in 2026, and your income must be confirmed. Kova estimates the refund your contribution would bring.
5. 5

   TFSA, otherwise

   Below that rate, the TFSA comes first: there’s no tax on what it earns, and you can take money out at any time.
6. 6

   Cash sitting in chequing

   If more than $1,000 sits in chequing earning little or no interest, Kova suggests moving some of it to the account at the top of your list.

If you’re a first-time home buyer but haven’t said you plan to buy, the FHSA only takes the RRSP’s place, and Kova shows what happens to unused savings. If you don't buy a qualifying home, you can transfer your FHSA savings to an RRSP without using RRSP room, or withdraw them as taxable income. An FHSA must close by the end of the year of the 15th anniversary of opening your first FHSA, or the year you turn 71 if that comes first.

Suggested amounts stay within the room you entered and are sized to one year’s limit. Kova says so when your room allows more.

Every dollar figure is labelled as an estimate. Tax figures use the 2026 federal and Ontario tax brackets and are shown as a range, because they rest on what you entered.

Each recommendation lists what it used: your income, the room you entered, the tax year, your province, the months of spending and the date the card terms were checked.

• Investment picks

  Kova never picks, ranks or compares investments, never projects growth and never tells you what to buy or sell.

• Moving money

  Kova can’t move money. You make every contribution and payment yourself.

• Home Buyers’ Plan withdrawals

  Kova explains how the plan works but never suggests a withdrawal.

Kova provides general financial information and account and credit card recommendations; it does not provide investment, tax-filing or legal advice.

Questions about a result? Read the FAQ