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Card Details
Rewards Calculation Disclaimer
Note: our reward calculations use the base cash back rates assuming you do not hold any money in a Neo everyday account to earn the higher tier (boosted) cash back rates, otherwise the reward estimates may be higher.
Interest Rates
Purchase: 19.99% - 29.99%□
Cash Advance: 22.99% - 31.99%□
Balance Transfer: 22.99% - 31.99%
□ Quebec rates: Purchase 19.99% - 23.99%, Cash advance 22.99% - 24.99%
Annual Fees
Main Card: $60 ($5 Monthly)
Additional Cards: $10 (max 1 additional cardholder)
Annual Income
Personal: $50,000
Household: $80,000
Credit Score Estimate
300Poor
560Fair
660Good
725Very Good
760Excellent
Welcome Bonus
N/A
Our Rating
4.8/5
Institution
Neo Financial
How You Earn Rewards
- 2% cash back on grocery purchases up to $1,000 spending per month (3% cash back if you have $5k in a Neo everyday account, or 4% cash back with $10k in a Neo everyday account) - drops to the 0.5-1% cash back tier after hitting spend cap
- 2% cash back on EV charging and gas purchases up to $1,000 spending per month (3% cash back if you have $5k in a Neo everyday account, or 4% cash back with $10k in a Neo everyday account) - drops to the 0.5-1% cash back tier after hitting spend cap
- 2% cash back on recurring purchases up to $500 spending per month (3% cash back if you have $5k in a Neo everyday account, or 4% cash back with $10k in a Neo everyday account) - drops to the 0.5-1% cash back tier after hitting spend cap
- 0.5% cash back on all other purchases up to $2,500 spending per month (1% cash back if you have $10k in a Neo everyday account)
- 5% average cash back at Neo Partners
Rewards Breakdown
Rewards Summary
Point Redemptions
Redemption Method
Net Value (After Annual Fee)
Insurance & Benefits
Insurance
Coverage
Purchase Protection
90 days
Extended Warranty
1 year
No additional benefits available for this card.
Pros & Cons
Pros
- Higher approval rate with the low to no credit score requirement to help you build your credit score
- High cash back rate of 4% on grocery spending but only if you keep at least 10k in a Neo every day account
- Additional cash back earning at over 10,000 Neo partners
Cons
- Basic insurance coverage
- Cash back spend caps can limit your rewards