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Secured Neo World Elite® Mastercard – Gas & Grocery Review
The Secured Neo World Elite Mastercard – Gas & Grocery is your go-to credit building tool that also optimizes common expenses.
Jun 9, 2026 2:10 PM
Written By
Lead Writer
The Bottom Line
To make the most out of your gas, grocery, and recurring purchases, plus restore your credit, apply for the Secured Neo World Elite Mastercard – Gas & Grocery. This card also includes premium perks and coverage.
Skip to: Detailed Review
Our choice for: Premium cashback for everyday spending
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on Neo Financial's website
Welcome Bonus
N/A
Annual Fee
$149⁕
$12.42 Paid Monthly
Interest Rates
19.99% - 29.99%□ / 22.99% - 28.99%□
RECOMMENDED CREDIT SCORE
300⁎Poor
560⁎Fair
660⁎Good
725⁎Very Good
760⁎Excellent
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% cash back at over 10,000 Neo Partners
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?dpl=dpl_2uNTgSTqRBZJX6TrD1YxeBtHeR3v)
Car Rental Damage & Theft
Yes.svg?dpl=dpl_2uNTgSTqRBZJX6TrD1YxeBtHeR3v)
Car Rental Personal Effects
$1,000
Purchase Protection
90 days
Extended Warranty
1 year
Lost or Stolen Baggage
$1,000
Benefits
Details
Airport Lounge - Dragon Pass
Pass only - pay $32 USD per visit
Eligibility
Credit Score
PoorAnnual Income
$80,000 personal or $150,000 household
Card Details
Interest Rates
Purchase APR
19.99% - 29.99%□
Cash Advance APR
22.99% - 28.99%□
Balance Transfer APR
22.99% - 28.99%
□ Quebec rates: Purchase 19.99% - 26.99%, Cash advance 22.99% - 24.99%
Fees
Annual Fee
$149 ($12.42 Monthly)
Additional Cards
$49 (max 1 additional cardholder)
Eligibility
Minimum Individual Income
$80,000
Minimum Household Income
$150,000
Credit Score Estimate
Poor
Type
Card Type
Secured Credit
Reward Type
Cash BackPros & Cons
Pros
- Instant approval and access
- High cashback rates
- Premium insurance
- Airport lounge membership
- Credit building tools
- No credit score requirements
- Boosted partner cashback
Cons
- Annual fee
- High income requirements
- Spending caps
Our Detailed Review
How to Earn Rewards with the Secured Neo World Elite Mastercard – Gas & Grocery
Like the regular Neo World Elite Mastercard – Gas & Grocery, the Secured Neo World Elite Mastercard – Gas & Grocery earns cardholders:
- 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 over 10,000 Neo Partners
Partner cash back is stacked on top of specialized earnings, maximizing rewards even further.
How to Redeem Rewards with the Secured Neo World Elite Mastercard – Gas & Grocery
With the Secured Neo World Elite Mastercard – Gas & Grocery, you can redeem your cash back at any time. You'll receive your cash back instantly inside of your "Rewards Wallet" which can then be converted into a statement credit, transferred to your Neo Everyday account, or used to purchase merchandise at the Neo Store.
Benefits and Perks
5 Benefits of the Secured Neo World Elite Mastercard – Gas & Grocery
There are a handful of perks that make the Secured Neo World Elite Mastercard – Gas & Grocery comparable to the best Neo credit cards in Canada.
As a secured credit card, the Secured Neo World Elite Mastercard – Gas & Grocery offers guaranteed approval, no matter what your credit score may be.
Once you fund your card with your refundable security deposit, this acts as your credit limit. You can dip into your credit and pay it off each month by the due date to build your credit score over time. With good behaviour, your credit limit can increase in just a few months.
Not only does the Secured Neo World Elite Mastercard – Gas & Grocery come with impressive initial cash back rates, it also boosts your earnings when you buy from Neo partners. Shop over 10,000 partners for up to 15% cash back.
The Secured Neo World Elite Mastercard – Gas & Grocery also comes with an airport lounge Dragon Pass membership, minus any complimentary visits. You'll still need to pay an entry fee for each visit.
Travellers also receive comprehensive insurance coverage, including valuable protections like trip interruption, trip cancellation, and travel medical insurance.
Drawbacks and Considerations
3 Downsides to the Secured Neo World Elite Mastercard – Gas & Grocery
There are also a few drawbacks to consider before sending in an application.
To account for such value, the Secured Neo World Elite Mastercard – Gas & Grocery comes with a steep annual fee. That said, if you take full advantage of this card's rewards, perks, and coverage, you can offset the yearly cost.
While there are no credit score requirements to adhere to, the Secured Neo World Elite Mastercard – Gas & Grocery still has high annual income requirements, which could make qualifying tricky for some applicants.
If you're a big spender, note that you could hit this card's monthly spending caps on specialized categories. Afterwards, reward rates plummet until the end of the month.
Compare to Similar Cards
In this section, we're going to compare the Secured Neo World Elite Mastercard – Gas & Grocery to other secured credit cards in Canada.
Neo Financial
4.4
Premium cashback for everyday spending
Neo Financial
4.8
Capital One
4.1
Home Trust
3.0
Annual Fee
$149
$95.88
$0
$0
$180
Interest Rates
Purchase
19.99% - 29.99%
Quebec
19.99% - 26.99%
Cash advance
22.99% - 28.99%
Quebec
22.99% - 24.99%
Purchase
19.99% - 29.99%
Quebec
19.99% - 23.99%
Cash advance
22.99% - 31.99%
Quebec
22.99% - 24.99%
Purchase
29.9%
Quebec
21.9%
Cash advance
29.9%
Quebec
21.9%
Purchase
19.99%, option to pay $59 Annual fee for %14.90
Cash advance
19.99%, option to pay $59 Annual fee for %14.90
Purchase
19.99% - 26.99%
Cash advance
22.99% - 28.99%
Rate details
Welcome Bonus
—
—
N/A
N/A
Up to 35,000 Asia Miles
Rewards
$496.48
First year rewards
$263.17
First year rewards
N/A
N/A
$812.15
First year rewards
Welcome Bonus Details
Earn Rates
Insurance Coverage
Extra Benefits
Requirements
Secured Neo World Elite Mastercard – Gas & Grocery vs Secured Neo World Mastercard – Gas & Grocery
The Secured Neo World Mastercard – Gas & Grocery offers the same optimization categories with lower cash back rates and card fees. The card also lacks extensive coverage and added perks, but is much more accessible with lower annual income requirements.
Verdict: The Secured Neo World Mastercard – Gas & Grocery is a more affordable and accessible alternative to the Neo World Elite Mastercard – Gas & Grocery, with fewer features.
Secured Neo World Elite Mastercard – Gas & Grocery vs Capital One Guaranteed Secured Mastercard
The Capital One Guaranteed Secured Mastercard has no annual fee as well as no rewards. The coverage isn't quite as extensive either, but cardholders receive rare price protection as a perk. On the plus side, this contender is much more accessible, with no income requirements.
Verdict: The Capital One Guaranteed Secured Mastercard is more affordable and accessible but lacks reward accumulation alongside credit building.
Secured Neo World Elite Mastercard – Gas & Grocery vs Home Trust Secured Visa
The Home Trust Secured Visa also lacks a reward program, but budget-conscious and low-income applicants will appreciate that the card avoids annual fees and income requirements. Sadly, this contender is also missing coverage and perks.
Verdict: The Home Trust Secured Visa is an affordable and accessible card for credit building, but it lacks any incentivizing add-ons.
Secured Neo World Elite Mastercard – Gas & Grocery vs Neo Cathay World Elite Mastercard Secured
Travellers might prefer pocketing miles while building or repairing their credit. The Neo Cathay World Elite Mastercard Secured collects Asia Miles on Cathay Pacific flights, purchases made in foreign currencies, Canadian purchases, and extra rewards on Neo partner purchases. The coverage on this card is even more valuable, specifically for travel-related protections like trip interruption and trip cancellation insurance. In addition to a Dragon Pass membership, cardholders can expect perks like flight discounts, access to the Boingo Wi-Fi hotspot, and priority travel benefits. The catch? Both the annual fee and income requirements are quite steep.
Verdict: The Neo Cathay World Elite Mastercard Secured is a premium credit-building option for travellers.
Frequently Asked Questions
Yes. Neo Financial has recently launched distinct rewards plans across three separate World Elite and World credit cards, catering to specific spending habits:
- Gas & Grocery: for customers who spend primarily on groceries, gas, and recurring bill payments
- Everywhere: for customers who want simplicity with strong flat-rate cash back on all purchases
- Shop & Dine: for customers who spend heavily on dining, takeout, and retail shopping
Each of these cards also has a secured version.
Yes. All specialized earn categories come with spend caps. Once these thresholds are met, your earn rate drops to the card's base rate for the remainder of the month.
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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Secured Neo World Elite® Mastercard – Gas & Grocery
4.4
FinlyWealth Rating
on Neo Financial's website
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