Secured Neo World Mastercard® – Gas & Grocery Review
The Secured Neo World Mastercard – Gas & Grocery is an affordable credit building card that also optimizes common purchases.
Sep 1, 2026 2:42 PM
The Bottom Line
If you want to optimize gas, grocery, and recurring purchases, plus build or rebuild your credit, apply for the Secured Neo World Mastercard – Gas & Grocery.
Skip to: Detailed Review
on Neo Financial's website
Welcome Bonus
N/A
Annual Fee
$119.88
$9.99 Paid Monthly
Interest Rates
19.99% - 29.99%□ / 22.99% - 31.99%□
RECOMMENDED CREDIT SCORE
Rewards
- 2% cash back on grocery purchases up to $1,000 spending per month
- 2% cash back on gas purchases up to $1,000 spending per month
- 2% cash back on recurring purchases up to $500 spending per month
- 0.5% cash back on all other purchases
- Up to 15% boosted cashback at thousands of partners across Canada - on top of base cashback rates
Insurance
Coverage
Purchase Protection
90 days
Extended Warranty
1 year
Mastercard Zero Liability Protection
Yes
Benefits
Details
World Mastercard Benefits
Including discounting with participating partners and DragonPass airport lounge access.
Eligibility
Credit Score
PoorAnnual Income
$50,000 personal or $80,000 household
Welcome Bonus Details
Card Details
Interest Rates
Purchase APR
19.99% - 29.99%□
Cash Advance APR
22.99% - 31.99%□
Balance Transfer APR
22.99% - 31.99%
Fees
Annual Fee
$119.88 ($9.99 Monthly)
Eligibility
Minimum Individual Income
$50,000
Minimum Household Income
$80,000
Credit Score Estimate
Poor
Type
Card Type
Secured Credit
Reward Type
Cash BackPros & Cons
Pros
- Instant approval and access
- Credit building tools
- Booster partner cashback
- No credit score requirements
Cons
- Basic insurance coverage
- Spending caps
Our Detailed Review
How to Earn Rewards with the Secured Neo World Mastercard – Gas & Grocery
There are a few ways to collect cash back using the Secured Neo World Mastercard® – Gas & Grocery.
Cardholders receive:
- 2% cash back on grocery purchases, up to $1,000 spending per month
- 2% cash back on gas purchases, up to $1,000 spending per month
- 2% cash back on recurring purchases up to $500 spending per month
- 0.5% cash back on all other purchases, up to $2,500 spending per month
- Up to 15% cash back at thousands of Neo Partners
The best part? Partner cash back gets stacked on top of initial specialized rewards, maximizing earnings even further.
How to Redeem Cash Back with the Secured Neo World Mastercard – Gas & Grocery
The Secured Neo World Mastercard – Gas & Grocery allows you to redeem these rewards at anytime toward your balance without any minimums or expirations.
Benefits and Perks
2 Benefits of the Secured Neo World Mastercard – Gas & Grocery
In this section, we’ll highlight all of the perks that make the Secured Neo World Mastercard – Gas & Grocery one of the best Neo credit cards in Canada.
As a secured card, the Secured Neo World Mastercard – Gas & Grocery helps Canadians improve or build credit, making it an accessible option for newcomers or those with poor credit.
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.
As mentioned, if you shop at any participating Neo Partners, you can receive additional cash back on top of your initial or boosted rates. These rates will vary by retailer, but you can expect to receive up to 15% in cash back when you meet specified spending requirements.
Partner categories include:
- Fast food chains
- Restaurants
- Clothing stores
- Grocery stores
- Pharmacies
- Subscription services
- Online stores
- Gas
Drawbacks and Considerations
3 Downsides of the Secured Neo World Mastercard – Gas & Grocery
Here are some of the downsides of the Secured Neo World Mastercard – Gas & Grocery:
As a World Mastercard, the Secured Neo World Mastercard – Gas & Grocery unfortunately comes with some income requirements and card fees (paid monthly). These requirements might make this budget-friendly option less accessible to lower annual earners.
Big spender beware! The Secured Neo World Mastercard – Gas & Grocery has monthly spend caps per specialized category. Once these spending thresholds are met, optimization decreases to the card's base rate until the end of the month.
One of the most disappointing aspects of the Secured Neo World Mastercard – Gas & Grocery is the fact that it lacks extensive coverage and offers absolutely no benefits.
Compare to Similar Cards
Next, we're going to compare the Secured Neo World Mastercard – Gas & Grocery against other leading secured credit cards in Canada.
Neo Financial
4.8
Home Trust
3.0
Annual Fee
$119.88
$0
$0
$180
Interest Rates
Purchase
19.99% - 29.99%
19.99% - 23.99%
Cash advance
22.99% - 31.99%
22.99% - 24.99%
Balance transfer
22.99% - 31.99%
Purchase
29.9%
21.9%
Cash advance
29.9%
21.9%
Balance transfer
29.9%
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
0.5% - 2%
N/A
N/A
$647.18
First year rewards
on Neo Financial's website
on Home Trust's website
Welcome Bonus Details
Earn Rates
Insurance Coverage
Extra Benefits
Requirements
Secured Neo World Mastercard – Gas & Grocery vs Capital One Guaranteed Secured Mastercard
Unlike the Secured Neo World Mastercard – Gas & Grocery, the Capital One Guaranteed Secured Mastercard lacks a rewards program. Luckily, it makes up for this by offering superior extended warranty and purchase protection insurance, plus baggage delay, car rental, and travel accident coverage. For perks, cardholders can also expect rare price protection. Additionally, this contender avoids annual fees and income requirements.
Verdict: The Capital One Guaranteed Secured Mastercard is more affordable and accessible, but while it provides better coverage and perks, it lacks a rewards program.
Secured Neo World Mastercard – Gas & Grocery vs Home Trust Secured Visa Card
The Home Trust Secured Visa Card lacks a rewards program. Unfortunately, cardholders also miss out on coverage and added perks. The plus side? This contender avoids annual fees and income requirements.
Verdict: The Home Trust Secured Visa Card is a straightforward accessible credit builder that lacks a rewards program, perks, and coverage.
Secured Neo World Mastercard – Gas & Grocery vs Neo Cathay World Elite Mastercard Secured
If you want to build credit and you travel to Asia frequently, then you may want to consider the Neo Cathay World Elite Mastercard Secured. Instead of cash back, this card collects Asia Miles on Cathay Pacific flights, foreign currency purchases, Canadian purchases, and bonus cash back on Neo partner purchases. The travel insurance on this card is extensive and cardholders can expect complementary perks like a Dragon Pass membership, flight discounts, and priority travel benefits. Unfortunately though, this competitor comes with a high annual fee and hefty income requirements.
Verdict: The Neo Cathay World Elite Mastercard Secured was designed for high-earning travellers also looking to improve credit.
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. Monthly spend caps apply to all specialized categories. Once you hit your spending allowance for the month, your earn rate drops to the card's base rate until the end 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 Mastercard® – Gas & Grocery
4.8
FinlyWealth Rating
on Neo Financial's website
Get personalized rewards estimates — see exactly how much you could earn.
Secured Neo World Mastercard® – Gas & Grocery Cash Back Calculatoron Neo Financial's website