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Secured Neo World Elite® Mastercard – Shop & Dine Review
Need to build credit and optimize restaurant purchases and shopping sprees? Look no further than the Secured Neo World Elite Mastercard – Shop & Dine.
Jun 9, 2026 2:03 PM
Written By
Lead Writer
The Bottom Line
The Secured Neo World Elite Mastercard – Shop & Dine offers some of the highest cash back rates on dining and shopping, plus premium perks and coverage. As a secured card, cardholders can also build up or repair their credit whilst pocketing rewards.
Skip to: Detailed Review
Our choice for: Customers who spend heavily on dining, takeout, and retail shopping
APPLY NOW
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
Earn 5% every time you dine out or order in, and 3% on retail shopping — the card built for how you actually enjoy spending.
Expect:
- 5% cash back on food & drink up to $1000 spending per month
- 3% cash back on shopping up to $1000 spending per month
- 1% cash back on everything else
- Up to 15% cash back at over 10,000 Neo Partners
Eligible Cash Back Categories Explained:
- Food & drink: Fast food, restaurants, bars, cocktail lounges, nightclubs, caterers
- Shopping: Apparel, footwear, electronics, hardware, home & garden, sporting goods, cosmetics, pets, jewellery, and more
- Amazon and wholesale purchases are not eligible for the shopping cashback rate
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_6bV49GFr1jzgeEZXrDgqnJLQG5tP)
Car Rental Damage & Theft
Yes.svg?dpl=dpl_6bV49GFr1jzgeEZXrDgqnJLQG5tP)
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
Our Detailed Review
How to Earn Rewards with the Secured Neo World Elite Mastercard – Shop & Dine
There are two intriguing cash back categories featured on the Secured Neo World Elite® Mastercard – Shop & Dine.
Expect:
- 5% cash back on food & drink up to $1000 spending per month
- 3% cash back on shopping up to $1000 spending per month
- 1% cash back on everything else
- Up to 15% cash back at over 10,000 Neo Partners
Spend caps reset each month. Once you hit the spending threshold within a category, your earn rate will drop to the card's base rate until the end of the month.
Partner cash back is earned on top of base category rates and offers are available via the Neo app.
How to Redeem Rewards with the Secured Neo World Elite Mastercard – Shop & Dine
Cashback is posted instantly to your Neo Rewards Wallet. You can redeem your cash back rewards anytime toward your balance without any minimums or expirations.
Benefits and Perks
6 Benefits of the Secured Neo World Elite Mastercard – Shop & Dine
There are plenty of perks that make the Secured Neo World Elite Mastercard – Shop & Dine comparable to the top Neo credit cards in Canada.
As a secured card, the Secured Neo World Elite Mastercard – Shop & Dine also helps Canadians improve or build their credit, making it an accessible option for newcomers or those with poor credit seeking premium rewards, coverage, and perks.
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.
With the Secured Neo World Elite Mastercard – Shop & Dine, cardholders earn some of the highest cash back rates on dining. Eligible purchases include qualifying fast food, restaurant, bar, cocktail lounge, nightclub, and catering expenses.
It's rare to come across a credit card that optimizes shopping, especially at such a high rate. With the Secured Neo World Elite Mastercard – Shop & Dine, earn rewards on the following purchases:
- Apparel
- Footware
- Electronics
- Hardware
- Home & garden
- Sporting goods
- Cosmetics
- Pets
- Jewellery and more
At over 10,000 partner 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. This perk only includes a membership, you'll still need to pay an entry fee per visit.
The Secured Neo World Elite Mastercard – Shop & Dine also has you covered with extensive insurance coverage. Expect valuable protections like trip interruption, trip cancellation, and travel medical insurance.
Drawbacks and Considerations
3 Downsides to the Secured Neo World Elite Mastercard – Shop & Dine
Before handing in an application, consider these three drawbacks.
The Secured Neo World Elite Mastercard – Shop & Dine has a hefty annual fee, making it less affordable.
Cardholders will also need to meet high annual income requirements to qualify for this card.
If you're a big spender who surpasses both bonus category spending caps, your optimization will decrease before the month is up.
Compare to Similar Cards
In this section, we're going to compare the Secured Neo World Elite Mastercard – Shop & Dine against other rewards secured credit cards of a similar tier.
Neo Financial
4.4
Customers who spend heavily on dining, takeout, and retail shopping
Neo Financial
4.4
Premium cashback for everyday spending
Neo Financial
4.4
Customers who want simplicity with strong flat-rate cashback on all purchases
Annual Fee
$149
$149
$95.88
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% - 26.99%
Cash advance
22.99% - 28.99%
Quebec
22.99% - 24.99%
Purchase
19.99% - 29.99%
Quebec
19.99% - 26.99%
Cash advance
22.99% - 28.99%
Quebec
22.99% - 24.99%
Welcome Bonus
—
—
—
Rewards
$269.32
First year rewards
$496.48
First year rewards
$331
First year rewards
Earn Rates
Insurance Coverage
Extra Benefits
Requirements
Secured Neo World Elite Mastercard – Shop & Dine vs Secured Neo World Elite Mastercard – Gas & Grocery
Like the Secured Neo World Elite Mastercard – Shop & Dine, the Secured Neo World Elite Mastercard – Gas & Grocery offers impressive rewards alongside its credit-building nature. However, instead of optimizing shopping and dining, this card focuses on groceries, recurring purchases, and gas. As far as coverage, perks, partner cash back boosts, annual fees, and income requirements go, these cards are identical.
Verdict: If you're looking to build or improve credit and earn cash back on groceries, recurring purchases, and gas, then the Secured Neo World Elite Mastercard – Gas & Grocery is a solid alternative.
Secured Neo World Elite Mastercard – Shop & Dine vs Secured Neo World Elite Mastercard – Everywhere
Also similar to the Secured Neo World Elite Mastercard – Shop & Dine, the Secured Neo World Elite® Mastercard – Everywhere earns rewards whilst helping cardholders build credit. Instead of offering specialized earn categories, this contender earns a flat rate of cash back on all purchases, up to a point. The earn rate drops as soon as you reach monthly spending thresholds. This card also offers the same coverage, perks, partner cash back boosts, annual fees, and income requirements.
Verdict: For a simplified flat-rate cash back system to accompany your credit-building rewards card, opt for the Secured Neo World Elite Mastercard – Everywhere.
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:
- 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
- Gas & Grocery: for customers who spend primarily on groceries, gas, and recurring bill payments
Each of these cards also has a secured version.
Yes. Monthly spend caps apply to both specialized categories. Once you hit your spending allowance for the month, your earn rate drops to the card's base rate until the next month.
The food & drink category on this card includes qualifying fast food, restaurant, bar, cocktail lounge, nightclub, and catering expenses.
The shopping category covers the following types of purchases:
- Apparel
- Footware
- Electronics
- Hardware
- Home & garden
- Sporting goods
- Cosmetics
- Pets
- Jewellery and more
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 – Shop & Dine
4.4
FinlyWealth Rating
on Neo Financial's website
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Secured Neo World Elite® Mastercard – Shop & Dine Cash Back Calculator
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on Neo Financial's website