Neo Mastercard® vs Neo World Mastercard®: Which one is better?
Neo Mastercard®
2.7
Neo World Mastercard®
3.5
Finly Rebate
Finly Rebate
Rewards Breakdown
Annual Rewards
$181.33
First Year Bonus Value
$0
Annual Fee
$0
Finly Rebate
$50Exclusive Offer
First Year Value
$231.33
Based on $2,000/mo average spending. Calculate your rewards.
Rewards Breakdown
Annual Rewards
$358.4
First Year Bonus Value
$0
Annual Fee
$0
Finly Rebate
$50Exclusive Offer
First Year Value
$408.4
Based on $2,000/mo average spending. Calculate your rewards.
Insurance Included
Balance Protection
optional add on
Insurance Included
Extended Warranty
1 year
Purchase Protection
90 days
Extra Benefits
Neo Premium ($4.99/month)
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Neo Travel Benefits ($4.99/month)
Neo Food Cashback boost ($1.99/month)
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
