Best Neo Financial Credit Cards
Neo Financial has a few different credit cards in its lineup, including a standard rewards card and a secured option for building credit. Most of Neo’s cards start with no annual fees, but they can be customized with added perks and benefits through premium plan options.
Compare the best Neo Financial credit cards
Rewards breakdown
Rewards breakdownCashback on groceries.
Cashback on gas & electric vehicle charging.
NerdWallet's take
NerdWallet's takeThe Neo Mastercard is a simple cash back card with no annual fee and 1% back on everything. But once monthly spending caps are reached, the rate drops to 0%. Best for: Cash-back beginners with low monthly spending.
Pros
- No annual fee.
- Secured version available.
Cons
- Cash-back drops to 0% after monthly caps: $500 on gas, $500 on groceries and $1,667 on all other purchases.
- APR can reach 29.99%, depending on credit history.
Card details
Card details- 1% cashback on groceries
- 1% cashback on gas & electric vehicle charging
- Average of 5% cashback at 10,000 partner locations nation-wide—on top of the base cashback rates
- Track your monthly spending with real-time insights
- Instant cashback that can be redeemed anytime
- Pay your bill instantly with Neo's #1 rated financial app
- Also available as a secured credit card for those looking to build their credit history in Canada
- International IDs accepted
Rewards breakdown
Rewards breakdownCashback on groceries.
Cashback on recurring payments.
Cashback on gas & electric vehicle charging.
Cashback on everything else.
NerdWallet's take
NerdWallet's takeThe Neo World Mastercard is a no-fee option for everyday spenders who want to maximize cash-back rewards on categories like groceries and gas. Paired Neo Chequing accounts boost cash-back rates from 2% to 4% on eligible purchases, with the option to rake in additional cash-back rewards via Neo’s partner network of brands. Best for: Shoppers who want a no-fee card with rewards on everyday spending.
Pros
- No annual fee.
- Cash-back rates of up to 4%.
Cons
- No built-in insurance coverage.
- $10,000 Chequing account balance required to unlock highest cash-back rates.
Card details
Card details- 2% cashback on groceries
- 2% cashback on recurring payments
- 2% cashback on gas & electric vehicle charging
- 0.5% on everything else
- Average of 5% cashback at 10,000 partner locations nation-wide—on top of the base cashback rates
- Extended Warranty
- Purchase Protection
- Track your monthly spending with real-time insights
- Instant cashback that can be redeemed anytime
- Pay your bill instantly with Neo's #1 rated financial app
- Also available as a secured credit card for those looking to build their credit history in Canada
- International IDs accepted
Rewards breakdown
Rewards breakdownCashback on groceries.
Cashback on recurring payments.
Cashback on gas & electric vehicle charging.
Cashback on everything else.
NerdWallet's take
NerdWallet's takeNeo’s top-tier Mastercard offers up to 5% back on everyday essentials with high monthly caps and a full suite of travel insurance. You’ll also get airport lounge access with DragonPass, but a $32 USD fee applies to each visit. The $80,000 minimum income requirements for the card may exclude some users. Best for: Travellers who spend big at the grocery store and value cash-back over points.
Pros
- High $1,000/month spending caps on top earn rates.
- Robust travel insurance.
- Secured option available.
Cons
- Interest rates can reach 29.99%, depending on credit history.
- Steep $80,000 minimum income requirement.
- Majority of travel insurance not available in Quebec.
Card details
Card details- 5% cashback on groceries
- 4% cashback on recurring payments
- 3% cashback on gas & electric vehicle charging
- 1% on everything else
- Average of 5% cashback at 10,000 partner locations nation-wide—on top of the base cashback rates
- Extended Warranty
- Purchase Protection
- Comprehensive Travel Insurance for delayed and lost baggage, flight delay, trip interruption and more
- Emergency medical coverage for out-of-province and out-of-country travel
- Mastercard Travel Pass provided by DragonPass
- Track your monthly spending with real-time insights
- Instant cashback that can be redeemed anytime
- Pay your bill instantly with Neo's #1 rated financial app
- Also available as a secured credit card for those looking to build their credit history in Canada
- International IDs accepted
Rewards breakdown
Rewards breakdownCashback on groceries.
Cashback on gas & electric vehicle charging.
NerdWallet's take
NerdWallet's takeThis cash-back earning secured card offers 1% back on gas and grocery purchases alongside credit monitoring tools and ATM fee reimbursements. Less appealing is its monthly fee that amounts to near $100 annually. Neo says that you may be able to have the monthly fee waived by maintaining a minimum balance in a Neo Chequing or Neo Savings account, though it doesn’t state what the minimum is. For cash-strapped credit-builders on a budget, the cost of this card could be a dealbreaker. Best for: Anyone building their credit who doesn’t mind paying for some nice-to-have extras.
Pros
- Earns 1% cash back on gas and grocery purchases.
- Credit score monitoring and credit building tools.
Cons
- $7.99 monthly fee.
- Purchase interest rates as high as 29.99%.
Card details
Card details- Guaranteed approval and no credit score required to apply
- International IDs accepted
- 1% cashback on groceries
- 1% cashback on gas & electric vehicle charging
- Average of 5% cashback at 10,000 partner locations nation-wide—on top of the base cashback rates
- Start with a security fund of as little as $50
- Can help builds credit history with consistent, on-time payments
- Track your monthly spending with real-time insights
- Instant cashback that can be redeemed anytime
- Pay your bill instantly with Neo's #1 rated financial app
Rewards breakdown
Rewards breakdownAsia Miles per $1 spent on Cathay Pacific purchases.
Asia Miles per $1 spent on foreign currency purchases.
Asia Mile per $1 spent on everyday purchases in Canada.
NerdWallet's take
NerdWallet's takeThe Cathay World Elite Mastercard is a strong choice for Cathay Pacific flyers. Cardholders earn 4x Asia Miles on Cathay Pacific flights and 2x on foreign spending, plus priority airport services and discounted lounge access. A 3% foreign transaction fee applies, though — which is slightly higher than the industry standard of 2.5%. Best for: Cathay Pacific loyalists.
Pros
- Extensive travel coverage.
- Priority airport services.
- Discounted airport lounge access for $32 USD per visit.
Cons
- High purchase interest rates of 19.99% to 26.99%.
- $80,000 individual or $150,000 household annual income requirement.
- Not available to Quebec residents.
Card details
Card details- Earn 35,000 Asia Miles upon sign-up and 25,000 additional Asia Miles after spending $5,000 in 90 days.
- Earn 4 Asia Miles per $1 spent on Cathay Pacific purchases & earn 2 Asia Miles on foreign currency purchases. Earn 1 Asia Mile per $1 spent on everyday purchases in Canada.
- Earn an average of 5x the Asia Miles" at thousands of Neo partners, and up to 15x miles" on first-time purchases
- Secured option available with guaranteed approval® - no credit history required
- Experience the world in a whole new way: Access exclusive benefits and make every trip memorable - including access to more than 1,300 airport lounges worldwide', and Mastercard Travel Rewards' while you're abroad.
- Travel worry-free with comprehensive coverage: Protect yourself when you travel with coverage' for emergency medical care, trip cancellation, lost luggage, and more - so you can relax and enjoy your trip.
- Your multi-tool for money: Unlock the power of Neo and manage your card in real-time, track your spending insights", and get proactive alerts and notifications - all from the palm of your hand, with the Neo app.
- Get exclusive membership perks: Online priority check-in, extra baggage redemption, and Cathay Pacific Business class lounge redemption access.
- Save up to 15%* on flights to Asia and beyond: From now until December 31, 2025, enter discount code CXNE0150FF and pay with your Cathay World Elite® Mastercard to enjoy up to 15% OFF* when making your flight booking.
- Once you have earned your Asia Miles, redeem them for the items that matter most to you as a traveler. Choose from airline tickets, hotels and car rentals, to everyday goods such as electronics, gift cards and more.
Methodology
BACK TO TOPSummary: Neo Financial credit cards
| Card | NerdWallet rating | Annual fee | Interest rates | Rewards rate | Apply Now |
|---|---|---|---|---|---|
| Neo Mastercard | APPLY NOW on Neo's website | ||||
 APPLY NOW on Neo's website | 4.1/5 | $0 | 19.99%-29.99%/22.99%-31.99% | 1%-5% | |
| Neo World Mastercard®* | APPLY NOW on Neo's website | ||||
 APPLY NOW on Neo's website | 4.6/5 | $0 | 19.99%-29.99%/22.99%-31.99% | 0.5%-5% | |
| Neo World Elite® Mastercard* | APPLY NOW on Neo's website | ||||
 APPLY NOW on Neo's website | 4.5/5 | $125 | 19.99%-29.99%/22.99%-28.99% | 1%-5% | |
| Secured Neo Mastercard | APPLY NOW on Neo's website | ||||
 APPLY NOW on Neo's website | 4.1/5 | $7.99/Month | 19.99%-29.99%/22.99%-31.99% | 1%-5% | |
| Cathay World Elite® Mastercard | |||||
 | 4.9/5 | $180 | 19.99%/22.99% | 1x-4x Miles | |
What to know about Neo Financial’s credit cards
Neo Financial is a digital bank with a handful of products in its roster, including credit cards, mortgages, a hybrid high-interest bank account and an investment platform.
Neo Financial offers a variety of cards, including the Neo Mastercard, Neo World Mastercard®*, and Neo World Elite® Mastercard*, as well as secured and prepaid picks with options for building credit. Most credit cards start with no annual fees on the base models, but premium plans and add-ons offer enhanced rewards and benefits.
Pros and cons of Neo credit cards
Pros
No annual fees on standard unsecured credit cards.
High cash-back potential, especially at Neo partner stores.
Customizable perks and premium plans.
Easy-approval options for building credit include secured cards and the basic unsecured Neo Mastercard.
Cons
Income requirements for premium cards — for example, an annual personal income of $80,000 is required for the Neo World Elite Mastercard.
Limited rewards rates for cash-back on non-partner purchases, especially on lower-tier options.
Premium features are only available with additional costs.
Earning and redeeming cash-back with Neo
Neo cardholders earn cash-back rewards at partner retailers and can redeem them through:
Neo bank account. Transfer rewards to your Neo Money account to earn interest.
Neo credit card balance. Apply cash back to your statement balance.
Neo online store. Use cash-back rewards as credit for purchases through Neo’s online store.
Who should consider a Neo credit card?
A Neo credit card may be a suitable option for:
Anyone seeking a no-fee or low-fee credit card that earns cash-back rewards.
People building or rehabilitating their credit.
Those curious to try out premium perks, like higher cash-back rates and travel benefits, without committing to an annual fee.
How to apply for a Neo credit card
To qualify, you must be a Canadian resident and at least the age of majority for your province or territory. The Secured Neo Mastercard card also requires a security deposit.
Neo credit card alternatives
A Neo credit card won’t be suitable for everyone. Consider other credit cards if you:
Prefer to earn retailer or airline rewards points and want to explore rewards credit card options.
Frequently travel and may prefer a travel credit card with built-in insurance coverage.
Need a cash-back card with different rewards rates.
Compare features, fees, and rewards to find the best option for your spending habits.
Frequently asked questions
Can I withdraw money from a Neo credit card?
Yes, you can withdraw cash from an ATM using your Neo Mastercard or Secured Neo Mastercard card. Doing so is considered a cash advance and is subject to a $2.50 to $5 fee per transaction. Cash advances are also subject to interest rates of 22.99% – 28.99%, and there is no interest-free grace period on cash advances, as of this writing.
Is there a Neo debit card?
The Neo Money™ Card is a hybrid debit card that earns cash-back rewards and can be linked to the Neo Chequing Account to generate 0.1% interest on deposited funds.
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