Neo World Elite® Mastercard – Gas & Grocery Review
The Neo World Elite® Mastercard – Gas & Grocery is truly one of the top Canadian credit cards, optimizing common purchases like groceries, gas, and recurring purchases.
Oct 19, 2026 1:31 PM
The Bottom Line
While the Neo World Elite® Mastercard – Gas & Grocery already provides impressive initial cash back rates on everyday purchases, it boosts optimization even further, rewarding cardholders with extra cash back on partner purchases. Just mind the high annual fee and income requirements.
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Our choice for: High cash back on groceries & gas
on Neo Financial's website
Welcome Bonus
N/A
Annual Fee
$149 $0
Interest Rates
19.99% - 26.99%□ / 22.99% - 28.99%
RECOMMENDED CREDIT SCORE
Rewards
- 5% cash back on grocery purchases up to $1,000 spending per month
- 4% cash back on recurring purchases up to $500 spending per month
- 3% cash back on gas purchases up to $1,000 spending per month
- 1% cash back on all other purchases with no spending caps
- Up to 15% boosted cashback at thousands of partners across Canada - on top of base cashback rates
Insurance
Coverage
Travel Medical Insurance (64 & under)
Up to $1,000,000
Trip Cancellation
$1,000
Trip Interruption
$1,000
Flight Delay
$500Baggage Delay
$1,000
Hotel Burglary Insurance
$1,000
Car Rental Accident
$100,000 for cardholder, up to $10,000 per Spouse or Dependent Child.svg)
Car Rental Damage & Theft
Yes.svg)
Car Rental Personal Effects
$1,000
Purchase Protection
90 days
Extended Warranty
1 year
Lost or Stolen Baggage
$1,000
Mastercard Zero Liability Protection
Yes
Benefits
Details
Airport Lounge - Dragon Pass
Pass only - pay $32 USD per visit
World Mastercard Benefits
Including discounting with participating partners and DragonPass airport lounge access.
Eligibility
Credit Score
GoodAnnual Income
$80,000 personal or $150,000 household
Welcome Bonus Details
Card Details
Interest Rates
Purchase APR
19.99% - 26.99%□
Cash Advance APR
22.99% - 28.99%
Balance Transfer APR
22.99% - 31.99%
Fees
Annual Fee
$149
$0 first year
Additional Cards
$49 (max 1 additional cardholder)
Eligibility
Minimum Individual Income
$80,000
Minimum Household Income
$150,000
Credit Score Estimate
Good
Type
Card Type
Credit
Reward Type
Cash BackPros & Cons
Pros
- High cashback rates
- Premium insurance coverage
- Airport lounge membership
- Boosted partner cashback
- Instant approval and access
Cons
- High income requirements
- Spending caps
- Annual fee
Awards
Best Cash Back Credit Card
2026
Our Detailed Review
How You Earn Rewards with the Neo World Elite Mastercard – Gas & Grocery
This isn’t your typical rewards breakdown, the Neo World Elite Mastercard – Gas & Grocery is a little bit more complex than traditional credit cards when it comes to earning cash back. This complexity is what ranks it as one of the top credit cards in Canada.
Here’s how you can earn big with the Neo World Elite Mastercard – Gas & Grocery, expect:
- 5% cash back on groceries, capped at a $1,000 monthly spending limit
- 4% cash back on recurring purchases, capped at a $500 monthly spending limit
- 3% cash back on gas, capped at a $1,000 monthly spending limit
- 1% cash back on all other purchases with no spending caps
- Plus, up to 15% cash back on purchases from thousands of Neo Partners
As you can see, the standard cash back rates for the Neo World Elite Mastercard – Gas & Grocery are already competitive against other high-earning cash back credit cards in Canada. However, if you purchase products or services from Neo Partners, you can tack on extra cash back on top of these impressive initial rates.
The above rates are what makes the Neo World Elite Mastercard – Gas & Grocery one of the best gas credit cards in Canada, one of the best grocery credit cards in Canada, and one of the best recurring transaction credit cards in Canada.
Redeeming your Rewards with the Neo World Elite Mastercard – Gas & Grocery
With the Neo World Elite Mastercard – Gas & Grocery, you can redeem your cash back rewards whenever you'd like, which is rare among most credit cards. Your rewards are instantly deposited into your "Rewards Wallet", which can ultimately be turned into a statement credit, transferred to your Neo Everyday account, or used to purchase merchandise at the Neo Store.
Benefits and Perks
3 Benefits of the Neo World Elite Mastercard – Gas & Grocery
As with all our reviews, it's best to begin with the Neo World Elite Mastercard – Gas & Grocery's benefits.
Here's what makes this Mastercard stand out as one of the best Neo credit cards in Canada:
As previously mentioned, with the Neo World Elite Mastercard – Gas & Grocery, you can boost your cashback rewards when you make purchases with Neo Partners.
These partners include:
- Fast Food Chains (Subway, Booster Juice, Freshii and more)
- Restaurant Chains (such as The Keg, Cora Breakfast & Lunch, and Earls)
- Clothing Stores (including Zara, Old Navy, and Lululemon)
- Grocery Stores (like Loblaw Companies, Walmart Supercentre, Real Canadian Superstore)
- Pharmacy Chains (including Shoppers Drug Mart, Pharmasave, The Medicine Shoppe)
- Subscriptions (like Netflix, Amazon Prime, Spotify)
- Online Stores (Amazon)
- Gas Chains (Shell, Esso, Petro Canada)
Some of these partners will offer a higher first time purchase cash back rate, after that, you'll receive an ongoing purchase cash back offer. You may also be subject to minimum spending requirements to receive your rewards. The best thing about these partner rates is that they're applied on top of any corresponding reward rates. For example, if you shop for groceries at Loblaws, you'll get the Loblaw Companies partner cash back rate and the Neo World Elite Mastercard – Gas & Grocery's overall earn rate on grocery purchases.
For more information on Neo partners, refer to our Neo Credit Card partners blog.
Travellers may also be tempted by this card's airport lounge Dragon Pass benefit. Just keep in mind that with this perk, you'll only receive the pass, and you'll still need to pay an entry fee for each visit.
The DragonPass membership provides access to over 1,300 airport lounges worldwide, and each visit costs $32 USD.
Also ideal for travellers, the Neo World Elite Mastercard – Gas & Grocery comes with comprehensive insurance including valuable categories like trip interruption, trip cancellation, and car rental accident coverage.
Scroll back up to this page's card breakdown for the full coverage list.
A few of the headline amounts: travel medical insurance of up to $1,000,000 (for travellers 64 and under), $1,000 each for trip cancellation and trip interruption, $500 for flight delay, and $1,000 for baggage delay. For rental cars, you also get car rental damage and theft coverage, which lets you decline the rental company's CDW/LDW, plus car rental accident coverage of $100,000 for the cardholder.
Drawbacks and Considerations
3 Downsides to the Neo World Elite Mastercard – Gas & Grocery
Where there are benefits, there are bound to be some drawbacks.
Here are some of the Neo World Elite Mastercard – Gas & Grocery's shortcomings:
Everyone loves a good sign-up bonus incentive. Unfortunately, the Neo World Elite Mastercard – Gas & Grocery is lacking in this into offer category. However, with great reward rates, and the potential to optimize those reward rates, you're still in for a solid first year value (as long as you take full advantage of this card's features).
Another thing to note about the impressive rewards program is that if you're a high spender, for most categories, you could hit their monthly spending cap. If you do, your cash back rate will unfortunately drop.
On top of the annual fee (which is typical for a World Elite Mastercard), you'll also need to make sure you meet the annual personal and household income requirements for the Neo World Elite Mastercard – Gas & Grocery, which are considered high. These higher income requirements might make the card less accessible to some cardholders.
Compare to Similar Cards
Comparison to Other Top Cashback Credit Cards
In this section, we're going to compare the Neo World Elite Mastercard – Gas & Grocery against other best cash back credit cards in Canada.
Here's a sneak peak of the comparisons we'll be making:
Neo Financial
4.6
Limited offer
Scotiabank
4.6
American Express
4.6
Annual Fee
$149
$0 first year
$120
$0 first year
$119.88
$139
$0 first year
Interest Rates
Purchase
19.99% - 26.99%
19.99% - 23.99%
Cash advance
22.99% - 28.99%
Balance transfer
22.99% - 31.99%
Purchase
20.99%
Cash advance
22.99%
Balance transfer
22.99%
Purchase
21.99%*
Cash advance
21.99%*
Rate details
Purchase
21.99%
Cash advance
23.99%
21.99%
Balance transfer
23.99%
21.99%
Welcome Bonus
—
Earn 15% Cash Back on all purchases for the first 3 months, a 0% introductory interest rate on balance transfers, and no annual card fees in the first year
Up to $250 ($200 in first year)
Get up to $650 in value*
Rewards
$525.48
First year rewards
$731.33
First year rewards
$609.19
First year rewards
$1,005.28
First year rewards
on Neo Financial's website
on Scotiabank's website
on American Express' website
Apply with Confidence — won't impact your credit score
on BMO's website
Welcome Bonus Details
Earn Rates
Insurance Coverage
Extra Benefits
Requirements
Neo World Elite Mastercard – Gas & Grocery vs Scotia Momentum Visa Infinite + Card
The Scotia Momentum Visa Infinite + Card, one of the best earns nearly as much cash back on groceries and gas, and the same amount on recurring purchases. The card also optimizes transit and food delivery purchases. While the Gas & Grocery card has more extensive coverage, the Scotia Momentum Visa Infinite + Card has more perks, including a car rental and GigSky data discounts. The Scotia Momentum Visa Infinite + Card is also more affordable and accessible, with a lower annual fee (rebated for the first year) and smaller income requirements.
Verdict: While the Gas & Grocery card offers more earning opportunities on partner purchases and better cash back on gas and groceries, the Scotia Momentum Visa Infinite + Card offers a couple extra specialized categories and perks for a lower annual fee and income requirements.
Neo World Elite Mastercard – Gas & Grocery vs SimplyCash Preferred Card from American Express
The SimplyCash Preferred Card from American Express earns more cash back on gas and slightly less cash back on groceries. While this card doesn't add bonus cash back on partner purchases, it provides and above-average base rate on all other eligible purchases. The Neo World Elite Mastercard – Gas & Grocery has superior coverage, including valuable protections like trop interruption and trip cancellation insurance. Instead of an airport lounge Dragon Pass membership, SimplyCash Preferred Card cardholders receive exclusive Amex Experiences. The Simply Cash Preferred Card also has a lower annual fee and income requirements.
Verdict: The SimplyCash Preferred Card is a more affordable and accessible gas option.
Neo World Elite Mastercard – Gas & Grocery vs BMO CashBack World Elite Mastercard
The BMO CashBack World Elite Mastercard earns even more cash back on groceries, similar cash back on gas, and less cash back on recurring purchases. This contender also optimizes daily transit. Again, the Neo World Elite Mastercard – Gas & Grocery has better coverage, but the BMO CashBack World Elite Mastercard has superior perks like several discounts and rare roadside assistance. While both cards sport the same income requirements, the BMO CashBack World Elite Mastercard has a lower annual fee.
Verdict: The BMO CashBack World Elite Mastercard is a more affordable grocery credit card.
Frequently Asked Questions
If you frequently purchase goods and services from Neo Partners, want to earn some of the highest cash back rates on popular spend categories like groceries, recurring purchases, and gas, then the Neo World Elite Mastercard – Gas & Grocery is perhaps the best credit card you could ask for.
The Neo World Elite Mastercard – Gas & Grocery comes with some steep income requirements and the highest annual fee out of all the cards we mentioned in this review, making it less accessible to some cardholders.
Yes, but it isn't free entry. The card includes a DragonPass airport lounge pass that provides access to over 1,300 lounges worldwide, and you pay $32 USD per visit.
The Neo World Elite Mastercard – Gas & Grocery includes travel medical insurance, trip cancellation and trip interruption insurance, and flight and baggage delay insurance. For rental cars, it covers damage and theft, letting you decline the rental company's CDW/LDW, and provides car rental accident coverage.
Groceries earn 5% on up to $1,000 of spending per month, recurring purchases earn 4% on up to $500 per month, and gas earns 3% on up to $1,000 per month. All other purchases earn 1% cash back with no spending cap.
Yes. The Neo World Elite Mastercard – Gas & Grocery is subject to a foreign currency conversion fee of 3%.
The annual fee is $149, and the first year is waived. An additional cardholder costs $49 (maximum of one additional cardholder).
About the author
Sara Skodak
Lead Writer
Since graduating from the University of Western Ontario, Sara has built a diverse writing portfolio, covering topics in the travel, business, and wellness sectors. As a self-started freelance content ...
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Neo World Elite® Mastercard – Gas & Grocery Cash Back Calculator
on Neo Financial's website