Neo Card Review 2024
The Neo Card is a no-annual-fee credit card that unlocks exclusive offers and earns you instant cashback rewards at the places you love.
All the cashback, no annual fees¹
Unlimited cashback: With Neo, get unlimited cashback. Shop and collect cashback you can use immediately.
Everyday cashback
Earn rewards at thousands of local and national businesses, including most major gas and grocery stores, restaurants, gyms, coffee shops and more.
Stay on top of your money
Get proactive alerts and notifications in real-time.
Interest rates:
- Purchases Interest Rate: 19.99% – 26.99%
- Cash Advance Interest Rate: 22.99%-28.99%
Neo Card only requires a credit score of 600+ and the Neo Secured Card is guaranteed approval, regardless of your credit history
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Priority airport services
No
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Airport lounge access
No
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Concierge service
No
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Balance protection(Optional)
No
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Purchase Security & Extended Protection Insurance
NO
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Flight delay insurance,Baggage Insurance
No
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Vehicle rental insurance
No
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Travel accident insurance
No
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Travel medical insurance
No
- Annual Fee: $0
- Additional Card Fee: $0
- Purchases Interest Rate: 19.99%
- Cash Advance Interest Rate: 26.99%
- You're a Canadian resident
- You've reached the age of majority in your province or territory
Forget the fees
No monthly or annual or overlimit fees. You keep the extra cash and decide where it goes.
Neo Card security feature
A great security feature of the Neo Card is the ability to lock your card, put it on hold or replace it in case you have misplaced or lost it. Freeze, unfreeze or replace your card, turn off online transactions, and more right from the app.
Automatically earn and redeem rewards with Neo
When you pay with the Neo Card, you’ll earn rewards automatically without ever needing to manually redeem them.
Know your finances
Get a bird’s-eye view into your spending habits with Insights. See all your purchases in one place, track your average, and dive into the details by category.
Overview
Neo Financial is a Canadian, technologically driven financial services company. They’ve recently partnered with Mastercard to offer their customers a cash back credit card. Cardholders earn the highest cash back when they spend with Neo Financial partners. Learn more below.
Key Features and Benefits
- Earn cash back rewards on everyday purchases
- Special cash back offers with thousands of partners, including restaurants, gyms, grocery stores and more
- No monthly or annual fees and standard interest rates
- Complimentary, easy to use Neo Financial app
- Able to connect with Apple Pay or Google Pay
- Email and phone customer support available
Pros
- Instant cashback
- Up to 15% cashback on f purchases and 5% average cash back at 10,000+ partners
- Mobile app available in the app store and Google Play
- In addition to the physical card, users can add the card to Apple Pay or Google PayTM to make contactless payments with a smartphone
- No monthly or annual fees
- Neo Card only requires a credit score of 600+
Drawbacks
- Only earn cash back with participating partners
- No basic insurance
Takeaway
The Neo Card is ideal for individuals who live in urban areas. Neo Financial partners with thousands of restaurants, coffee shops, grocery stores and gas stations. If you don’t live close to the partner vendors, it’ll be challenging to take advantage of the cash back rewards. In addition, Neo Financial’s flexibility and no fees are beneficial for all users.
Author Bio
Mohamed Konate is a personal finance expert, blogger, and marketing consultant based in Toronto. He is a former financial services professional who worked at major Canadian financial institutions for many years. He managed the marketing strategy around various financial products ranging from credit cards to lines of credit. Mohamed is passionate about personal finance and holds a Bachelor's in Business Administration from the University of Quebec (Montreal) and a Master's in International Business from the University of Sherbrooke (Quebec). He is also the author of the Canadian Credit Card Guidebook.
