neo world elite mastercard

Neo World Elite® Mastercard® Secured

4.4/5

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neo world elite mastercard
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$100

Neo World Elite® Mastercard® Secured

FinlyWealth Logo

$60 $100 Cash Rebate From FinlyWealth expiring on

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Rewards Calculator Algorithm

You can estimate your rewards by inputting your monthly or yearly spending habits.

Finly factors in all the reward limits and fine prints of every single credit card so you can be sure your results are as accurate as possible.


Your Spending

Modify your spending numbers and click update to get the most accurate reward estimates.

$2,000

Restaurant, Fast Food & Coffee Shop

$

Grocery

$

Recurring Purchases (Bills, Subscriptions, Rent via Chexy)

$

Gas

$

Transportation

$

Entertainment (Movies, Concerts, etc.)

$

Foreign Purchases (Non $CAD)

$

Travel (Flights, Hotels, etc.)

$

Pharmacy

$

Online Shopping

$

Home Improvement (Renovation, Furniture)

$

Purchases at Canadian Tire, Sport Check, Lquipeur, Atmosphere, Party City, SportsRousseau, HockeyExperts, LentrepduHockey

$

Other Purchases Not Specified

$


25% Referral Cash Bonus

Share your unique referral link to the Neo World Elite® Mastercard® Secured and earn a 25% rebate bonus. Learn more about the Finly referral program.

Card Details

Based on $2,000 spending

First Year Value

$592.21

$492.21 in years after

Annual Rewards

$617.21

First Year Bonus

$0

Finly Rebate

$100

Annual Fee

$125

First Year Value

$592.21

Interest Rates

Cash Advance: 22.99% - 28.99% (for Quebec 22.99%-24.99%)

Purchase: 19.99% - 26.99% (for Quebec 19.99%-23.99%)

Annual Fee

$125

Annual Income

Personal: $80,000

Household: $150,000

Credit Score

Poor

Welcome Bonus

N/A

Card Type

Secured Credit

Our Rating

4.4/5

Institution

Neo Financial

Rewards


  • 5% cash back on grocery purchases up to $12,000 spending per year (6% cash back if you have $5k in a Neo everyday account, or 7% cash back with $10k in a Neo everyday account) - drops to 1% cash back after hitting spend cap
  • 4% cash back on recurring purchases up to $6,000 spending per year (4.5% cash back if you have $5k in a Neo everyday account, or 5% cash back with $10k in a Neo everyday account) - drops to 1% cash back after hitting spend cap
  • 3% cash back on gas purchases up to $12,000 spending per year (3.5% cash back if you have $5k in a Neo everyday account, or 4% cash back with $10k in a Neo everyday account) - drops to 1% cash back after hitting spend cap
  • 1% cash back on all other purchases up to $40,000 spending per year
  • 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.
In addition, the extra cash back rate from transactions made at Neo partners has been estimated to boost your overall rate by 0.7% in the calculator.

Neo World Elite® Mastercard® Secured Cash Back Calculator

Based on $2,000 spending


Rewards Breakdown

Groceries

$219.3


Recurring Transactions

$67.2


Gas

$59.62


others

$271.1


All other purchases

$0


Annual Fee

- $125


Net Annual Rewards

$492.21

(after fees)

Rewards Summary

Net Annual Rewards

$492.21

(after fees)


First Year Card Bonus

$0


First Year Card Value

$492.21


Finly Rebate

$100

Was $60

Insurance & Benefits


Insurance

Coverage

  • travel accident medical

    Emergency Out of province Medical

    Up to $1,000,000
  • cancel airplane

    Trip Cancellation

    $1,000
  • pause

    Trip Interruption

    $1,000
  • hourglass timer

    Flight Delay

    $500
  • hourglass timer

    Baggage Delay

    $1,000
  • lost baggage

    Lost or Stolen Baggage

    $1,000
  • burglar

    Hotel Burglary Insurance

    $1,000
  • car accident

    Car Rental Accident

    $100,000 for cardholder, up to $10,000 per Spouse or Dependent Child
  • car insurance

    Car Rental Damage & Theft

    Yes
  • luggage insurance

    Car Rental Personal Effects

    $1,000
  • purchase protection

    Purchase Protection

    90 days
  • extended warranty

    Extended Warranty

    1 year

Benefits

Details

  • alcohol cheers

    Airport Lounge - Dragon Pass

    Pass only - pay $32 USD per visit

Pros & Cons


Pros

  • Low to no credit score requirement, making approvals easy and helps to build your credit score over time
  • Highest cash back rates in Canada for highest spending categories like Grocery (up to 7%), especially if you keep at least $5k in a Neo everyday account
  • 12 different types of insurance coverage
  • Airport lounge access with DragonPass with $32 USD per visit
  • Additional cash back earning at over 10,000 Neo partners

Cons

  • High income requirements of $80,000 personal or $150,000 household
  • Cash back spend caps can limit your rewards
  • Having to keep at least $5k in an everyday account to boost your cash back tier

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