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Pros & Cons
Pros
- First Year Annual Fee Rebate ($149 annual fee rebated)
- Up to 5% at restaurants
- Purchase protection included
Cons
- High annual fee ($149/yr after the first year)
- Foreign Transaction Fee (2.5%)
- No airport lounge access despite fee
Our Review
Welcome offer: $149 annual fee waived for the first year.
The Neo World Elite® Mastercard – Shop & Dine offers some of the highest cash back rates in the country for dining and shopping. Earn 5% cash back every time you dine out or order takeout, and 3% on in-store purchases, with 1% everywhere else.
Benefit from comprehensive insurance including extended warranty, purchase protection and travel insurance, as well as a DragonPass membership for airport lounges around the world.
Combined with additional cash back at over 10,000 Neo partners and an instant credit limit of up to $30,000, this is a card designed for those who spend at restaurants and in stores.
Purchases on Amazon and at warehouse stores are not eligible for the shopping rate. Travel insurance is not available to Quebec residents. DragonPass membership is included; fees apply for each lounge visit.
Rewards
All Spending
1%
cash back on eligible purchases
Restaurants
5%
cash back on eligible purchases
Online purchases
3%
cash back on eligible purchases
Office
3%
cash back on eligible purchases
Credit Card Rewards Calculator
See how much you could earn with this card based on your spending.
Cashback earned
$444
$/yr
Estimated Value
$444
After Fees
+$444
1st Year Value
$444
incl. welcome bonus
Annual rewards breakdown
First-year advantages
- $149
Perks & Benefits
Accepted at Costco
Included
Travel Insurance
Travel Medical
Up to $1,000,000 / 14 days
Trip Cancellation
Up to $1,000
Trip Interruption
Up to $1,000
Delayed Baggage
Up to $1,000
Lost Baggage
Included
Flight Delay
Up to $250
Hotel Burglary
Up to $1,000
Purchase Protection
Purchase Protection
Up to $1,000 / 90 days
Extended Warranty
+1 year(s)
Auto Rental
Up to $65,000 / 48 days
Fees and interest rates
- Annual Fee$149
First Year Annual Fee Rebate
- Additional card fee$49
- Foreign currency conversion fee2.5%
- Purchase Rate19.99%
- Balance transfer rate22.99%
- Cash advance rate22.99%
Eligibility
Personal Income
$80,000
Household Income
$150,000
Terms & Conditions
Card Features
- $149 annual fee waived for the first year
- 5% cash back on restaurants, bars and fast food (up to $1,000/month, then 1%)
- 3% on shopping: clothing, shoes, electronics, home and garden, and more (up to $1,000/month, then 1%)
- 1% cash back everywhere else, with no cap
- Mastercard World Elite® travel benefits: collision/damage insurance for car rentals, comprehensive travel insurance and DragonPass membership
- Up to 15% boosted cash back at thousands of Neo partners across Canada, on top of base cash back rates
- Instant credit limit up to $30,000
- Annual fee of $149
- Secured option to build credit history, ideal for newcomers to Canada (same cash back rates)
Legal
Conditions Apply. See the application for complete details.
Conditions apply. All information is believed accurate but not guaranteed. Card details, rewards, and offers are subject to change at any time. Always verify the latest terms on the issuer’s website before applying. Milesopedia may receive compensation through affiliate links. This does not affect our editorial choices or card rankings. © 2026 Neo Financial. All trademarks are property of their respective owners.
