Neo Mastercard® vs Amazon.ca Rewards Mastercard®

Working hard in the background...

Neo Mastercard® vs Amazon.ca Rewards Mastercard®: Which one is better?

Neo Mastercard®

2.7

Apply Now More Details

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Get your free credit score

Amazon.ca Rewards Mastercard®

3.1

Apply Now More Details

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Get your free credit score

Finly Rebate

$50 Cash Rebate from FinlyWealth

Finly Rebate

N/A

Rewards Breakdown

Annual Rewards

$181.33

First Year Bonus Value

Annual Fee

First Year Value

$181.33

Based on $2,000/mo average spending. Calculate your rewards.

Rewards Breakdown

Annual Rewards

$251.84

First Year Bonus Value

$150

Annual Fee

First Year Value

$401.84

$251.84 in years after

Based on $2,000/mo average spending and assuming you are an Amazon Prime member as the primary account holder. Calculate your rewards.

Insurance Included

Balance Protection

optional add on

Insurance Included

Extended Warranty

Up to a year

Purchase Protection

90 days

Extra Benefits

Neo Premium ($4.99/month)

Neo Travel Benefits ($4.99/month)

Neo Food Cashback boost ($1.99/month)

Neo Mind and Body Perks ($9.99/month)

Extra Benefits

Car Rental Discount

10% off base rate of Avis Rent A Car and Budget Rent A Car

Trip and legal Assistance

Yes

Interest Rates

Purchase:

19.99% - 29.99%

Cash Advance:

22.99% - 31.99%

Interest Rates

Purchase:

19.99%

Cash Advance:

22.99%

Annual Fee

Income Required

Min Personal Income:

N/A

Min Household Income:

N/A

Income Required

Min Personal Income:

N/A

Min Household Income:

N/A

Welcome Bonus

N/A

Welcome Bonus

Get 5% back at Amazon.ca, Whole Foods Market stores in Canada, grocery stores and restaurants for up to 6 months. Up to $150 cashback on top of the normal cashback earned.

Rewards Rate

1% cash back on grocery purchases up to $500 spending per month (3% cash back with $5k in a Neo everyday account, and 4% cash back with $10k in a Neo everyday account) - drops to the 0.5-1% cash back tier after hitting spend cap
1% cash back on gas purchases up to $500 spending per month (3% cash back with $5k in a Neo everyday account, and 4% cash back with $10k in a Neo everyday account) - drops to the 0.5-1% cash back tier after hitting spend cap
0% cash back on all other purchases with $0 in a Neo everyday account, or 0.5% cash back with $5k in a Neo everyday account up to $1,667 spending per month, or 1% cash back with $10k in a Neo everyday account up to $1,667 spending per month - drops to 0% cash back again after hitting spend cap
+5% earned on average at Neo Partners.

Note: our reward calculations use the base cash back rates assuming you do not hold any money in a Neo everyday account to earn the higher tier (boosted) cash back rates, otherwise the reward estimates may be higher.

Rewards Rate

2.5% cashback on Amazon.ca, Whole Foods and foreign currency transactions IF a prime member
Only 1.5% on Amazon.ca and Whole foods and 1% on foreign currency transactions IF not a prime member
1% cashback on everything else

Is this card worth it?

The Neo Credit Card is special because it earns rewards based on whether the merchant is a partner or not. Most of the time, the cashback earned at these partners is the highest possible compared to all other credit cards. However, we don't recommend using this card as your main credit card and suggest using it only at partner merchants. This is because the rewards at non-partner merchants are very small, and most merchants are not partnered with Neo.

Is this card worth it?

If you are a Prime member and want to maximize your cashback on your Amazon purchases, then this card is the best option for that specific purchase category. However, for other purchases, many other cards offer better benefits and rewards.

Pros

High cash back on grocery and gas if you're willing to hold at least $5k in a Neo everyday account
Unique cashback program which earns cashback based on partner instead of purchase category.
Massive cashback at some partners that any other credit card couldn't beat.
Unique benefit system where perks could be bought with a monthly fee and cancelled after use.

Pros

If you are a Prime member, the 2.5% cashback offered on Amazon purchases is unbeatable in terms of rewards compared to other credit cards.
The 2.5% cashback on all foreign currency transactions helps to offset the extra 2.5% fee.

Cons

Base Cash back is very low when you do not hold any money in a Neo everyday account
No built-in purchase protection and extended warranty benefit.

Cons

It offers very little on non-Amazon and non-Whole Foods purchases, with many other well-rounded credit cards out there that offer much more.
Very limited benefits.