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4.4
/5
Neo Financial
Mastercard
Secured Neo World Elite® Mastercard – EverywhereCash Back Calculator
Our Take
This secured card offers a simple flat-rate of cash back on all purchases, without caps. As a secured card, this contender also helps Canadians improve or build their credit, making it an accessible option for newcomers or those with poor credit seeking a straightforward rewards system with comprehensive coverage and premium travel perks.
Card Details
Interest Rates
Purchase: 19.99% - 29.99%□
Cash Advance: 22.99% - 28.99%□
Balance Transfer: 22.99% - 28.99%
□ Quebec rates: Purchase 19.99% - 26.99%, Cash advance 22.99% - 24.99%
Annual Fees
Main Card: $95.88 ($7.99 Monthly)⁕
Additional Cards: $49 (max 1 additional cardholder)
⁕ To waive the $7.99 monthly fee on the Neo secured credit card (Neo Build), you must maintain a total balance of at least $5,000 across your Neo Everyday, Neo Savings, or Neo High-Interest Savings accounts.
Annual Income
Personal: $80,000
Household: $150,000
Credit Score Estimate
300⁎Poor
560⁎Fair
660⁎Good
725⁎Very Good
760⁎Excellent
Card Type
Secured Credit
Our Rating
4.4/5
Institution
Neo Financial
How You Earn Rewards
- 2% cash back up to $4000 spending per month then 1% (unlimited) on everything else
- Up to 15% cash back at over 10,000 Neo Partners
Annual Rewards Breakdown
Annual Rewards Summary
Point Redemptions
Redemption Method
Net Value (After Annual Fee)
Insurance & Benefits
12 insurance
1 benefit
Insurance
Coverage
Travel Medical Insurance (64 & under)
Up to $1,000,000
Trip Cancellation
$1,000
Trip Interruption
$1,000
Flight Delay
$500
Baggage Delay
$1,000
Hotel Burglary Insurance
$1,000
Car Rental Accident
$100,000 for cardholder, up to $10,000 per Spouse or Dependent Child
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Car Rental Damage & Theft
Yes
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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
Pros & 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