Secured Neo World Elite® Mastercard – Everywhere Review

As a secured card, the Secured Neo World Elite Mastercard – Everywhere helps Canadians improve or build credit, making it an accessible option for newcomers or those with poor credit who want to take advantage of premium rewards, perks, and coverage.

Secured credit cards require a refundable security deposit, which typically determines your credit limit. The deposit acts as collateral for the issuer in case of missed payments.

Unlike other Neo credit cards, the Secured Neo World Elite Mastercard – Everywhere offers a flat rate of cash back on all purchases. This simplifies spending and keeps your wallet light

With this card, expect additional cash back on Neo Partner purchases at over 10,000 retailers. Cardholders can receive up to 15% cash back on eligible purchases.

Partner categories include:

• Fast food chains
• Restaurants
• Clothing stores
• Grocery stores
• Pharmacies
• Subscription services
• Online stores
• Gas

Cardholders also receive an airport lounge Dragon Pass, granting them membership to over 1,300 lounges across the globe. Note, however, that you'll still need to pay an entry fee per visit.

The Secured Neo World Elite Mastercard – Everywhere, like other Neo World Elite credit cards, provides valuable protections like trip interruption, trip cancellation, travel medical insurance, and more.

Unfortunately, the Secured Neo World Elite Mastercard – Everywhere comes with a high annual fee, making it less appealing to budget-conscious applicants

Along with a high annual fee, the Secured Neo World Elite Mastercard – Everywhere has steep income requirements.

Big spenders should be cautious about this card's monthly spend cap. If you spend over $4000 in a month, your return rate drops until the end of the month.