Neo World Elite® Mastercard – Gas & Grocery 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
Get your first year annual fee waived ($149 value) exclusively through us.*
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
$302
$376
Every year after
$252
Neo World Elite® Mastercard – Gas & Grocery is worth $323 more to you in year one.
It stays ahead after that, by $124 a year.
How the first year adds up
Annual rewards
$525.48
cash back a year
Welcome bonus
+ $0
not reached at this spending
Annual fee
$149− $0
$149 from year two
Finly rebate
paid by FinlyWealth
First-year value
$625.48
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.
5%Groceries
$212.85
4%Recurring Transactions
$96
3%Gas
$64.8
1%All other purchases
$151.83
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% - 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:
$50,000
Min Household Income:
$80,000
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
- 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
Extended Warranty
1 year
Purchase Protection
90 days
Mastercard Zero Liability Protection
Yes
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
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
Extended Warranty
1 yearPurchase Protection
90 daysMastercard Zero Liability Protection
Yes
Perks
Perks
World Mastercard Benefits
Including discounting with participating partners and DragonPass airport lounge access.
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 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)
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.
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
- High cashback rates
- Premium insurance coverage
- Airport lounge membership
- Boosted partner cashback
- Instant approval and access
- No annual fee
- Boosted partner cashback
- Instant approval and access
Cons
Cons
- High income requirements
- Spending caps
- Annual fee
- 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.
