About the Neo Credit card

Neo Credit is a high-rewards cash back Mastercard that provides an exceptionally high cash back rate, especially if you’re shopping at Neo Financial partners. The average at Neo partners offers 5%. The average is based on current offers and may vary per offer period and partners. Many retailers also have bonus cash back offers for first-time visits, repeated visits, or certain purchase thresholds.

You can view Neo Financial partners and their cash back offers directly in the app. You can even take a peek by signing up with your email before you apply for the card. Just browse Neo partners by looking at the map based on your location, or by category (i.e. Restaurants, Health & Wellness, or Apparel).

Some of the best cash back offers come from local businesses, so cardholders can earn the highest rewards by supporting business owners in their own neighbourhood!

In addition to unlimited cash back, your Neo Financial credit card charges no monthly or annual fees. You get unlimited transactions without having to worry about any out-of-pocket costs. Best of all, the Neo credit card is available Canada-wide, including Quebec, so Canadians across the country can enjoy the great cashback rate wherever they shop.

Neo Credit Base vs. Neo Credit Premium

Neo Credit Base

The base version of the Neo Financial Mastercard is a free plan that rewards you for your everyday spending with 1% on gas and grocery and 0.5% cash back on everything else and motre exclusive cash back offers from Neo partners.

  • 5% average cashback at restaurants, bars and cafes
  • 3% on popular streaming services
  • 3% on ride sharing services
  • 3% on food delivery services
  • 2%+ at retail partners (both online and in-store)
  • Personalized insights powered by generative chat AI
  • Digital card available to use immediately
  • Get cashback at thousands of local and national partners

Neo Credit Premium

You can upgrade the Neo Credit card Base version for $4.99/month to get more cashback and more exclusive perks and features. Get the first 3 months free on sign up to get higher everyday cashback.

  • 3% on gas and grocery
  • 0.5% cashback on everything else
  • 6% average cashback at restaurants, bars and cafes
  • 4% on popular streaming services
  • 4% on ride sharing services
  • 4% on food delivery services
  • 3%+ at retail partners (online and in-store)

Neo Credit Premium comes with all Neo Credit Base features and benefits, plus:

  • Credit score monitoring directly in the Neo app
  • $2,500 group life insurance
  • 24/7 legal assistance
  • Purchase protection with extended warranty
  • Dedicated priority support

Is Neo Credit card legit?

Neo Financial was founded by the team who created SkipTheDishes, Neo’s head office is located in Calgary and serves Canadians across Canada, including Quebec. 

Neo Financial is revolutionizing the way people spend, save, and earn rewards. Neo currently offeris this high rewards cashback credit card and a high-interest savings account. However, expect more from them in the future! 

The Neo Card is powered by Mastercard®, so your Neo Credit Card is accepted anywhere Mastercard is accepted. Applying for the Neo Credit will count as a new credit application and your payment history will contribute to your credit score.

More: Read our Neo Financial review

What credit score do you need for a Neo Credit card?

You need a credit score of at least 600 to qualify for a Neo Credit Mastercard. However, if you’re not quite there yet, you can apply for the Neo Secured Credit Card. This is a secured card that lets you earn cash back while helping you build your credit history, with responsible use.

Neo offers credit limits up to $10,000 depending on your income history and credit score. Interest rates on purchases range from 19.99% - 26.99% (19.99% - 24.99% for Quebec residents). You’ll be able to see your offer in the Neo app before you accept it. Once you accept, you’ll get your Neo Credit to add to your Apple Pay or Google Pay wallet, so you can begin earning cash back right away.

Neo Credit card features and benefits

  • Welcome Bonus:

New cardholders of the Neo Card receive a welcome bonus of up to 15% cash back on first-time purchases (cash back rates vary per offer and partner).

  • Bonus cash back offers. Double-digit cash back offers pop up regularly from Neo partners. Expect great rewards from first-time and repeated visits to your favourite local businesses.
  • Fully digital. Unlike a traditional Financial Institution, you don’t need to set foot in a branch to apply for Neo Credit because you can do everything from your mobile device.
  • No annual or monthly fees. Where most credit cards have an annual fee you need to pay to receive their benefits, Neo charges $0.

Neo Credit pros and cons

This Neo Financial Mastercard has great cashback offers, including double-digit cashback offers from many local neighbourhood cafes and restaurants for repeated visits or spending thresholds. It’s easy and fun to browse Neo partners in the app before choosing where to grab lunch so you can maximize cash back.

Your cashback will accrue as you spend, and you can cash out at any time. There’s no waiting for your credit card statement, or to hit a certain threshold before you can make a withdrawal. When you want your funds, simply tap “cash out” in the app and your cashback rewards will be applied to your Neo Credit balance. I earn about $30 per month in Neo rewards on my card.

Another helpful feature is Neo notifies you when your bill is due and how much you have to pay to avoid interest charges. Neo notifies its users via the app and by email before their bill is due with the exact amount they need to pay to avoid interest charges. When was the last time you had a credit card company help you avoid interest charges?





Neo Credit: Money.ca's verdict

The Neo Credit card is the most rewarding cash back credit card currently available on the Canadian market. If you’re looking for a rewarding cash-back card for everyday spending, Neo Financial is your best option. The card is especially rewarding if you frequent local restaurants and cafes that are most likely to be Neo partners and offer bonus cash back for first-time or repeated visits.


  • What is Neo Financial?


    Neo Financial is a Canadian fintech brand offering a high-rewards cashback credit card and a high-interest savings account.

  • How do you apply for a Neo Credit card?


    You can apply directly for a Neo Credit by downloading its app. Neo Credit is a credit card so applying for it will count as a credit application. The limit and interest rate you receive for your Neo Credit depends on your income and credit history.

  • What are some of the Neo Credit cashback partners?


    Neo partners include big box stores, online retailers, and local businesses alike. Expect to see familiar brands like Hudson's Bay, Staples, Second Cup, Best Buy, and Chapters Indigo, but look out for local cafes and restaurants too! You can view Neo partners without applying for the card right away simply by signing up through the app.

Bridget Casey is the award-winning entrepreneur behind Money After Graduation, a Canadian financial literacy website aimed at 20 and 30-somethings. She holds a BSc. from the University of Alberta, and an MBA in Finance from the University of Calgary. She has been featured as a millennial financial expert by Yahoo! Finance, TIME Magazine, Business Insider, CBC and BNN. Bridget was recognized as one of Alberta's Top Young Innovators in 2016.


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