Neo Financial is a Canadian FinTech, built out of the prairies. The company was created on the premise that Canadians have been underserved in their finances for far too long. They aim to provide a more rewarding experience that Canadians deserve. Now they’re setting a new standard with the Neo World Mastercard® and Neo World Elite® Mastercard—the most rewarding credit cards in Canada. The cards blend the highest cashback rates with valuable perks, allowing you to maximize your spending across a range of categories. In this review, we’ll dive into these features to help you make an informed choice.
Should You Get the Neo World or Neo World Elite Mastercard?
Both these top-tier credit cards offer impressive rewards with every purchase. Whether you’re looking for a no-fee card with solid cashback or a premium option that offers even higher rewards and perks, Neo has a solution for you. If you’re serious about earning cashback on daily expenses and want a card that fits your lifestyle, either of these cards could be the perfect fit.
These cards are great for:
- Those who want to maximize cashback on everyday purchases.
- Canadians who prefer a no annual fee card (Neo World) or those who want even more premium perks (Neo World Elite).
- Those who are frequent travellers looking for added travel insurance (Neo World Elite) or those that want purchase protection and extended warranty (Neo World)
- Anyone who values a comprehensive, digital-first experience.
Canadian credit card comparisons
The Neo World Mastercard® is for those looking for a no-fee credit card that offers exceptional rewards across important spending categories.
Category | Neo World Mastercard® | TD Cash back Visa | BMO Cashback Mastercard | CIBC Costco |
Groceries | 2% | 1% | 3% | 1% |
Recurring | 2% | 1% | 1% | 1% |
Gas | 2% | 1% | 0.5% | 3%* at Costco gas. |
Everything else | 0.5% | 0.5% | 0.5% | 1% |
Partner Network Avg | 5% | 0% | 0% | 0% |
The Neo World Elite® Mastercard is for those wanting top-tier rewards, rates, and benefits.
Category | Neo World Elite® Mastercard | TD Cash back Visa Infinite | Scotia Momentum Visa Infinite | BMO Cashback World Elite® Mastercard |
Annual Fee | $125 | $139 | $120 | $120 |
Groceries | 5% | 3% | 4% | 5% |
Recurring | 4% | 3% | 4% | 2% |
Gas | 3% | 3% | 2% | 3% |
Everything else | 1% | 1% | 1% | 1% |
Partner Network Avg | 5% | 0% | 0% | 0% |
Considerations
- The Neo World Elite Mastercard does have an annual fee, though it’s in line or even lower than most premium cards offering similar perks.
- Both cards have a minimum annual income requirement. For the Neo World Mastercard® it’s $50,000 individual, or $80,000 household. For the Neo World Elite® it’s $80,000 individual or $150,000 household.
- Frequent travellers may find other premium cards offer more robust travel benefits, but Neo’s offering is still competitive.
Who is Neo Financial?
Neo Financial has built a reputation on accessibility and simplicity. With the Neo World Mastercard® and Neo World Elite® Mastercard, you don’t need to juggle complicated rewards programs or worry about hidden fees. Everything is done through their intuitive app, giving you control over your finances in real-time. Plus, Neo’s extensive partner network ensures you can earn significant cashback without adjusting your regular spending habits, with partners like Shell, Boston Pizza, and Specsavers.
Neo’s commitment to providing Canadians with modern financial tools extends beyond just credit cards. Their full suite of services, including savings accounts and budgeting tools, makes managing your money effortless. Both cards integrate seamlessly with their app, making it easy to track spending, monitor rewards, and stay on top of your budget.
Final thoughts
With its range of benefits and simple yet powerful rewards structure, and user-friendly app, the new credit cards from Neo Financial are very compelling. Considering the features and the other cards in the Canadian market, Madeinca.ca awards the Neo World Mastercard® as the best no-annual-fee card in Canada, and the Neo World Elite® as the best cashback credit card in Canada.
Discover more at https://get.neofinancial.com/worldelite-world-waitlist/
