Welcome bonus: $25 welcome bonus for new cardholders
The Neo CardTM (Secured) is a type of credit card that is backed by money you deposit with the issuer. This money is held in an account and then used as collateral for your purchases with the credit card. It’s a great way to build or rebuild your credit in Canada, while also having the convenience of using a credit card.
- Forget the fees: The full featured benefits of the Neo CardTM (Secured) with no annual or overlimit fees.
- Flexible limits: Increase your credit limit whenever you need.
- Insights: Keep track of what you’re spending with our insights dashboard.
- Auto-pay: Never miss a payment again with our auto-pay feature.
Straight talk about security funds
- Your credit limit is equal to your security funds. You’re in control. Pick a limit you’re comfortable with and never worry about going over your limit (you can’t).
- Your security funds are stored safely in your Neo account and will be fully returned if you close your card and have paid off your balance.
- The minimum amount of security funds to get started is $50.
Your rewards, your way
Create your ultimate rewards experience by adding and stacking perks to your Neo Card™. All themed perks contain unique benefits like boosted cashback, app subscriptions, and insurance. Subscribe to one, or stack a few together to get more from the things you need and love.
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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: 21.99%
- You're a Canadian resident
- You've reached the age of majority in your province or territory
- No Annual fee
- Guaranteed approval
- No income requirements
With the Neo Secured credit card, you will have many ways to earn cashback.
- 5% Average cashback
Earn an average of 5% unlimited cashback at 10,000+ Neo partners.
- 15% Welcome bonuses
Earn up to 15% cashback on your first purchase at participating partners.
How Neo CardTM (Secured)
The Benefits of Using the Neo CardTM (Secured)
- Cashback Rewards: The Neo Card enables you to earn cashback rewards on your purchases which are rare for a secured credit card.
- No Annual Fees – The Neo Card has no annual or monthly fees related to it.
- No Credit Checks: The Neo Card requires no credit checks for approval.
- Low minimum-security deposit: $50
The downside of the Neo CardTM (Secured)
- The card does not offer complimentary insurance coverage like extended warranty, purchase security or collision insurance.
Conclusion
A Neo CardTM (Secured) could be just what you need if you're looking for an easy way to start establishing good financial habits while improving upon existing ones!
¹ Conditions apply. Must 1. be the age of majority in your province or territory of residence; 2. be a Canadian resident; 3. provide security funds.
² For Quebec: Monthly Statements; No monthly or annual fees; 21-day grace period; Minimum payment is the higher of $10.00 or 5.0% of total statement balance; Purchase rate (19.99%-25.24%) and cash advance rate (21.99%-25.24%).
³ As awarded on October 19, 2021 by votes cast in the RewardsCanada.ca Canada’s Choice awards.
? Average based on current offers at select partners. Cashback may be limited and varies by perks, offer, and partner. Value increase is an average and depends on card use. Offer is subject to the Rewards Policy. Offer may be amended or cancelled at any time without notice.
? Top-up varies based on monthly spend and is limited to $50 per month.
? When you make payments in full and on time each month.
Card issued by ATB Financial pursuant to license by Mastercard International Inc. Mastercard® is a registered trademark and the circles design is a trademark of Mastercard International Inc.
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.
