Neo World Elite® Mastercard – Gas & Grocery vs Neo Mastercard®
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.
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.
$625
First-year value
$114
$376
Every year after
$64
Neo World Elite® Mastercard – Gas & Grocery is worth $511 more to you in year one.
It stays ahead after that, by $312 a year.
How the first year adds up
Annual rewards
$525.48
cash back a year
Welcome bonus
+ $0
no welcome offer
Annual fee
$149− $0
$149 from year two
Finly rebate
paid by FinlyWealth
First-year value
$625.48
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
Where each card earns
A year of your spending at each card's own reward rates, most first.
5%Groceries
$212.85
4%Recurring Transactions
$96
3%Gas
$64.8
1%All other purchases
$151.83
1%Groceries
$42.57
1%Gas
$21.6
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% - 26.99%
Cash Advance:
22.99% - 28.99%
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:
$80,000
Min Household Income:
$150,000
Min Personal Income:
N/A
Min Household Income:
N/A
How each card earns
The earn rates and caps, as each issuer sets them.
- 5% cash back on grocery purchases up to $1,000 spending per month
- 4% cash back on recurring purchases up to $500 spending per month
- 3% cash back on gas purchases up to $1,000 spending per month
- 1% cash back on all other purchases with no spending caps
- Up to 15% boosted cashback at thousands of partners across Canada - on top of base cashback rates
- Up to 15% cash back at thousands of partners across Canada
Insurance and perks
What both cards include comes first in each list.
Insurance
Insurance
Lost or Stolen Baggage
$1,000
Baggage Delay
$1,000.svg)
Car Rental Damage & Theft
Yes
Car Rental Accident
$100,000 for cardholder, up to $10,000 per Spouse or Dependent Child
Extended Warranty
1 year
Purchase Protection
90 days
Hotel Burglary Insurance
$1,000
Travel Medical Insurance (64 & under)
Up to $1,000,000.svg)
Car Rental Personal Effects
$1,000
Trip Cancellation
$1,000
Trip Interruption
$1,000Flight Delay
$500
Mastercard Zero Liability Protection
Yes
No insurance included.
Perks
Perks
Airport Lounge - Dragon Pass
Pass only - pay $32 USD per visit
World Mastercard Benefits
Including discounting with participating partners and DragonPass airport lounge access.
No extra perks.
Our take
Why we like it
Why we like it
This card offers some of the highest cash back rates in Canada for gas, groceries, and recurring purchases, which is pretty hard to beat. While the cash back rates are very high, you need to mind the spend caps set for each category to see if your earning potential is really that high compared to most other credit cards. However, if you're the average person whose spending is generally below $12k per year in groceries, $6k per year in recurring bills and $12k per year in gas, then you'll be doing pretty well, especially with the great insurance and benefit offers.
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.
Pros
Pros
- High cashback rates
- Premium insurance coverage
- Airport lounge membership
- Boosted partner cashback
- Instant approval and access
- No annual fee
- Instant approval and access
- Unique partner cashback program
- Unique benefit system
- Balance protection
Cons
Cons
- High income requirements
- Spending caps
- Annual fee
- Insurance and benefit fees
- Spending caps
- Low cashback rates
More comparisons
Other cards we've put each of these up against.
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