Maximize Your Rewards with the Neo Mastercard
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Neo Financial is a Canadian online bank specializing in savings and credit products. Among their products, the Neo Mastercard allows you to earn cashback on your purchases. As of October 2025, cashback rates no longer depend on the balance of your Neo Everyday account, but rather on the type of card held (Neo, Neo World, or Neo World Elite). This new structure makes the program simpler and more transparent for Neo Mastercard holders.
Neo Financial: A New Digital Bank
Based in Calgary, Canada, Neo Financial is an online bank specializing in savings and credit products. It stands out for its direct partnership with merchants, offering access to a vast network of over 10,000 partners across Canada. This allows you to earn cash back based on the type of card you choose, rather than your account balance. These benefits are easily tracked using the Neo mobile application (Neo App), which now offers improved tools for expense and cashback tracking.
Get a Neo Mastercard
The Neo Mastercard (formerly Neo Credit) is one of the many financial products offered by Neo. It has no annual fees and no income requirement (unlike the Neo World Mastercard® and Neo World Elite® Mastercard cards). As of October 2025, the application process has been simplified: applicants go through a single flow and immediately see which cards they can obtain, ensuring instant approval when they are eligible.
- Annual fee
- $0
- Our valuationMilesopedia first-year estimate First-year valueWelcome bonus$25Total$25Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
- $25
- Welcome offer
- $25 cash back
Apply Now
on Neo Financial's website
Applying for a Neo Mastercard is now even simpler thanks to the new unified application flow, which is completed entirely online. The conditions for application are as follows:
- Be a Canadian resident;
- Have a valid Canadian photo ID;
- Have reached the age of majority in your province.
Credit limits range from $500 to $10,000, subject to approval. Optional coverage is available, such as Balance Protection, which can cover minimum monthly payments of your credit card’s outstanding balance.
Right now, the welcome offer is $25, with no spending requirements. Simply apply online and the bonus will be credited directly to your account when the card is activated. Additionally, secured cardholders now benefit from Build membership ($9.99/month) to access credit-building and score-tracking tools.
Add an additional card at no cost
Since April 15, it has been possible to add an additional card at no cost on the Neo Mastercard® and Neo World Mastercard® cards (secured and unsecured). This allows you to consolidate household expenses into a single account while continuing to earn cash back on eligible purchases.
In practical terms, purchases made with an additional card are linked to the primary account. This can be useful for centralizing everyday expenses and simplifying tracking, directly in the Neo app.
Consolidating expenses into a single account also allows you to earn cash back more quickly, without changing your purchasing habits. Adding an additional card takes just a few minutes via the Neo app.
Other Neo Financial Products
Neo Financial offers various financial products and services such as credit cards, secured credit cards, checking accounts, and savings accounts. As of October 2025, some secured cards include Build membership ($9.99/month), offering tools to track and improve your credit, along with detailed expense and cashback tracking. Find more details in our other guides:
Neo Mastercard – Earning Cashback Rewards
Neo has recently simplified the structure of its cashback program. From now on, cashback no longer depends on the balance of your Neo Everyday account, but is determined solely by the type of card held (Neo, Neo World, or Neo World Elite), making the program clearer and more transparent for all customers.
Balance-based cashback tables no longer apply. Here is a summary of cashback rates by card type:
| Cashback Rate by Neo Card Type | ||||
|---|---|---|---|---|
| Card | Grocery | Gas | Everything else | Neo Partner |
| Neo Mastercard | 1 % | 1 % | 0,5 % | Up to 15% |
| Neo World Mastercard® | 2 % | 2 % | 0,5 % | Up to 15% |
| Neo World Elite® Mastercard | 5 % | 3 % | 1 % | Up to 15% |
Here are the rewards with a balance of $5,000:
Here are the rewards with a balance of $10,000:
Neo Partners Across Canada
Neo Financial has over 10,000 partners across Canada. These partners include gas stations, grocery stores, restaurants, gyms, cafes, and many others. Cashback at these partners is now calculated based on the type of card held, and no longer on the balance of the Neo Everyday account.
For example, here is an overview of current Neo partner offers in the Rosemont district in Montreal:
Many independent restaurants have partnered with us, offering discounts of around 5%. Good news for those places that sometimes don’t take American Express and the Cobalt® Card!
Popular partners across the country include:
- A&W App (up to 15%)
- Blaze Pizza (up to 15%)
- Second Cup Coffee Co (up to 10%)
- aloSIM (up to 10%)
- Harry Rosen (up to 10%)
- Pet Value (up to 10%)
- Oakley (up to 8%)
- The Keg Steakhouse (up to 8%)
- Jugo Juice (up to 8%)
- Ray Ban (up to 7%)
- ALDO (6%)
- Carter’s | OshKosh B’gosh (6%)
- JD Sports (up to 6%)
- Endy (up to 6%)
- Public Mobile (5%)
- Best Western (up to 5%)
- Boston Pizza (4%)
- DSW / The Shoe Company (4%)
- FlightHub (3%)
- La Maison Simons (3%)
- Roots Canada (3%)
- Hudson Bay (2%)
- Shell App (up to 2%)
As of October 2025, cashback at these partners is calculated based on the type of Neo card held, and no longer on the balance of the Neo Everyday account.
The full list of partners can be found on the Neo website and on the Neo App.
Additionally, you receive cashback based on the type of card held: 1% for the Neo Mastercard, 2% for the Neo World Mastercard®, and up to 5% for the Neo World Elite® Mastercard at grocery stores and gas stations, across all chains in Canada, including Costco. There is no longer a monthly limit based on the Neo Chequing account balance.
Customize Your Rewards with Extras
Premium
Neo Financial offers a package that lets you accumulate even more rewards: Premium. For $9.99 a month, you get higher discount rates, exclusive offers and features, and :
- Boosted Cashback
- Gas: 2% instead of 0%
- Groceries: 2% instead of 0%
- Everything else: 0.5% instead of 0%
- Credit monitoring (provided by TransUnion, directly in the Neo App)
- Enhanced purchase protection and extended warranty
- $2,500 group life insurance
- 24/7 Legal assistance
- Cashback from 3% to 6% depending on partner type: partner retailers (3%), restaurants, bars, and cafes (6%), food delivery (4%), rideshare services (4%), streaming services (4%)
- Priority support from Neo (dedicated phone line)
The following table summarizes the cash back bonuses available with Premium:
| Features | Bonus |
|---|---|
| Grocery | +2 % |
| Gas | +2 % |
| All other purchases | +0,5 % |
| Rideshare Services (Average Network Cashback) | +4 % |
| Restaurants (Average Network Cashback) | +6 % |
| Food Delivery (Average Network Cashback) | +4 % |
| Streaming (Average Network Cashback) | +4 % |
| Shopping (Average Network Cashback) | +1 % |
Cashback with certain partners can be even higher.
Other plans
In addition to the Privilege Extra, Neo offers other extras available as monthly subscriptions, such as:
- Travel ($7.99) – Not available in Quebec
These extras offer bonus cash rebates on certain expenses, plus special benefits such as insurance.
Claiming Your Cash Rewards
To receive your cash back rewards, simply go to the mobile app and tap on the total cash back in the top left corner. Then tap “Cash Out.” You can choose whether to cash out your rewards to your Neo Mastercard® or to any eligible Neo account.
You can claim your rewards at any time. No need to wait for a statement or the end of the month to cash out your rewards.
Paying Your Neo Mastercard
Payment for the Neo Mastercard can be made in two ways:
- Via the Neo App if you have a Neo Everyday account
- Via your banking institution
If you do not have a Neo Chequing account, visit your bank’s website. Then, add Neo as a payee and make the payment as you would for any regular bill.
Neo Mastercard Abroad
As the Neo Mastercard is a partner of the Mastercard network, it works almost anywhere in the world. Just use it like any other credit card, where Mastercard is accepted.
However, Neo does not have partners abroad. Therefore, it is generally not possible to earn cash back abroad with Neo cards, unless you are subscribed to the Travel extra. Some cards, such as the United® MileagePlus® Neo World EliteMD Mastercard®, do allow you to earn miles on purchases made abroad.
Finally, the Neo Mastercard charges a 2.5% fee on foreign currency transactions. This is also the case for the vast majority of credit cards in Canada, with a few exceptions. Check out our guide to the best credit cards with no foreign exchange fees, our best tips for saving on foreign currency transactions and our tips for saving on ATM withdrawals.
- Annual fee
- $89
- Our valuationMilesopedia first-year estimate First-year valueWelcome bonus$320Total$320Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
- $320
- Welcome offerAfter $3,000 in 3 months
- Up to 20,000 miles
Apply Now
on Neo Financial's website
Conclusion
In summary, Neo Financial represents an attractive option for earning cashback, especially with their network of 10,000 partners across Canada. Among their products, the Neo Mastercard offers instant cashback on your daily spending, calculated based on the card type rather than the balance of the Neo Everyday account. Plus, earn enhanced rewards by adding the Privilege Extra or the Travel Extra.
If you would like to learn more about Neo’s other financial products, please consult our guides:
To keep up with the best card offers and our tips for maximizing your cashback, subscribe to our free newsletter.
Frequently Asked Questions About Neo Mastercard
What is the Neo Mastercard?
The Neo Mastercard is one of the cards offered by Neo Financial. with no annual fees and no minimum income requirement, allowing you to earn instant cashback on your purchases, calculated based on the card type rather than the balance of the Neo Everyday account. To earn even more rewards, you can subscribe to packages such as the Privilege Extra or the Travel Extra.
Is Neo Financial available in Quebec?
Yes, the Neo Mastercard is offered in Quebec. However, the Travel extra is not offered in Quebec.
Can I use my Neo Mastercard anywhere?
The Neo Mastercard is a partner of the Mastercard network, so you can use it anywhere Mastercard is accepted.
Which is Neo’s best Mastercard?
Neo Financial offers several Mastercard cards: Neo Mastercard® (no annual fee or income requirement), Neo World MastercardMD (no annual fee) and Neo World EliteMD Mastercard® ($149 annual fee). The best Neo Mastercard is the one that matches your financial situation and needs.
How can I contact Neo customer service?
You can chat with our support team every day, from 7 a.m. to 8 p.m. You must be logged in to your account to chat.