neo mastercard

Neo Mastercard®

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Neo World Mastercard

Neo World Mastercard®

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Neo Mastercard® vs Neo World Mastercard®: Which one is better?


neo mastercard

Neo Mastercard®

2.7


RECOMMENDED CREDIT SCORE

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

Neo World Mastercard

Neo World Mastercard®

3.5


RECOMMENDED CREDIT SCORE

300
Poor
560
Fair
660
Good
725
Very Good
760
Excellent

Rewards Breakdown

Annual Rewards

$181.33


First Year Bonus Value

$0


Annual Fee

$0


First Year Value

$181.33

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

Rewards Breakdown

Annual Rewards

$358.4


First Year Bonus Value

$0


Annual Fee

$0


First Year Value

$358.4

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

Insurance Included

  • credit card dollar

    Balance Protection

    optional add on

Insurance Included

  • extended warranty

    Extended Warranty

    1 year
  • purchase protection

    Purchase Protection

    90 days

Extra Benefits

  • red diamond

    Neo Premium ($4.99/month)

  • travel

    Neo Travel Benefits ($4.99/month)

  • food location

    Neo Food Cashback boost ($1.99/month)

  • care day

    Neo Mind and Body Perks ($9.99/month)

Extra Benefits

N/A

Interest Rates

Purchase:

19.99% - 29.99%

Cash Advance:

22.99% - 31.99%

Interest Rates

Purchase:

19.99% - 29.99% (or 19.99% - 23.99% in Newfoundland and Quebec)

Cash Advance:

22.99% - 31.99%

Balance Transfer:

22.99% - 31.99%

Annual Fee

$0

Annual Fee

$0

Income Required

Min Personal Income:

N/A

Min Household Income:

N/A

Income Required

Min Personal Income:

$50,000

Min Household Income:

$80,000

Welcome Bonus

N/A

Welcome Bonus

N/A

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% cash back on grocery purchases up to $1,000 spending per month (3% cash back if you have $5k in a Neo everyday account, or 4% cash back with $10k in a Neo everyday account) - drops to the 0.5-1% cash back tier after hitting spend cap
  • 2% cash back on gas purchases up to $1,000 spending per month (3% cash back if you have $5k in a Neo everyday account, or 4% cash back with $10k in a Neo everyday account) - drops to the 0.5-1% cash back tier after hitting spend cap
  • 2% cash back on recurring purchases up to $500 spending per month (3% cash back if you have $5k in a Neo everyday account, or 4% cash back with $10k in a Neo everyday account) - drops to the 0.5-1% cash back tier after hitting spend cap
  • 0.5% cash back on all other purchases up to $2,500 spending per month (1% cash back if you have $10k in a Neo everyday account)
  • 5% average cash back 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.

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?

This card offers balanced rewards for everyday purchases and with the cash back boost of up to 4% on groceries, it can easily beat most other no fee cash back credit cards as long as you're willing to keep 10k in a Neo everyday account. There's a secured version of this card too which would be beneficial for those wanting to build credit and earn a very high cash back at the same time at only $5/month.

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

  • High cash back rate of 4% on grocery spending but only if you keep at least 10k in a Neo every day account
  • Additional cash back earning at over 10,000 Neo partners

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

  • Basic insurance coverage
  • Cash back spend caps can limit your rewards

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