Neo Mastercard® vs Neo World Mastercard® – Gas & Grocery
Which one is better? Both cards worked out on the same spending: rewards, welcome bonus, fees and perks, line by line.
Welcome bonus
Each offer as the issuer words it. The numbers below show whether your spending reaches it.
The offer
The offer
No welcome bonus right now.
No welcome bonus right now.
What each card is worth
Rewards, the welcome bonus and any Finly rebate in, the annual fee and FX fees out, all on your spending.
Worked out on a typical $2,000 a month of spending. Enter yours to see your own numbers.
$114
First-year value
$302
$64
Every year after
$252
Neo World Mastercard® – Gas & Grocery is worth $188 more to you in year one.
It stays ahead after that, by $188 a year.
How the first year adds up
Annual rewards
$64.17
cash back a year
Welcome bonus
+ $0
no welcome offer
Annual fee
− $0
no annual fee
Finly rebate
paid by FinlyWealth
First-year value
$114.17
Annual rewards
$252.26
cash back a year
Welcome bonus
+ $0
no welcome offer
Annual fee
− $0
no annual fee
Finly rebate
paid by FinlyWealth
First-year value
$302.26
Where each card earns
A year of your spending at each card's own reward rates, most first.
1%Groceries
$42.57
1%Gas
$21.6
2%Groceries
$85.14
2%Recurring Transactions
$48
2%Gas
$43.2
0.5%All other purchases
$75.92
Fees, rates and eligibility
What each card costs to hold and to use abroad, and who it's for.
Annual fee
Additional cards
Interest rates
Interest rates
Purchase:
19.99% - 29.99%
Cash Advance:
22.99% - 31.99%
Balance Transfer:
22.99% - 31.99%
Purchase:
19.99% - 29.99%
Cash Advance:
22.99% - 31.99%
Balance Transfer:
22.99% - 31.99%
Recommended credit score
Recommended credit score
Income required
Income required
Min Personal Income:
N/A
Min Household Income:
N/A
Min Personal Income:
$50,000
Min Household Income:
$80,000
How each card earns
The earn rates and caps, as each issuer sets them.
- Up to 15% cash back at thousands of partners across Canada
- 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% boosted cashback at thousands of partners across Canada - on top of base cashback rates
Insurance and perks
What both cards include comes first in each list.
Insurance
Insurance
No insurance included.
Extended Warranty
1 year
Purchase Protection
90 days
Mastercard Zero Liability Protection
Yes
Perks
Perks
No extra perks.
No Foreign Transaction Fees1
You can get all FX fees rebated up to $10K spending per month with a Neo Grow membership ($12.99/month cost or $0 with $20K across your Neo accounts)
World Mastercard Benefits
Including discounting with participating partners and DragonPass airport lounge access.
Our take
Why we like it
Why we like it
The Neo Credit Card is special because it earns rewards based on whether the merchant is a partner or not. Most of the time, the cashback earned at these partners is the highest possible compared to all other credit cards. However, we don't recommend using this card as your main credit card and suggest using it only at partner merchants. This is because the rewards at non-partner merchants are very small, and most merchants are not partnered with Neo.
This card offers balanced rewards for everyday purchases. There's a secured version of this card too, which would be beneficial for those wanting to build credit and earn cash back at the same time at only $7.99/month.
Pros
Pros
- No annual fee
- Instant approval and access
- Unique partner cashback program
- Unique benefit system
- Balance protection
- No annual fee
- Boosted partner cashback
- Instant approval and access
Cons
Cons
- Insurance and benefit fees
- Spending caps
- Low cashback rates
- Basic insurance coverage
- Spending caps
- Income requirements
More comparisons
Other cards we've put each of these up against.
Legal
1Foreign transaction fees are automatically rebated for Grow members and limited to the first CAD$10,000 in foreign spend each month. A 2.75% foreign transaction fee (2.5% on Neo Money™ cards) is applied at the time of purchase and automatically returned to your account once the transaction moves from pending to posted. Neo Money™ Card rebates are processed monthly, at the end of the month, and returned via your Neo Chequing or Neo Everyday account.
