To the point
Explore the possibilities of rewards with the Neo Credit card, which offers variable cashback at over a thousand stores across Canada.
Neo Financial: a new digital bank
Founded in 2019 and based in Calgary, Alberta, Neo Financial is a recently established online bank. It stands out for its direct collaboration with merchants, offering its customers instant cash rewards. These benefits are easily tracked using the Neo application.
Get a Neo Credit card
The Neo Credit card is one of the many financial products offered by Neo.
The card charges no annual fee and requires no minimum income.
Applying for a Neo Credit card is a simple process that takes place entirely online. The conditions for application are as follows:
- to be a Canadian resident ;
- have a valid photo ID and ;
- to have reached the age of majority in your province.
That’s all there is to it! Right now, the welcome offer is $25, with no minimum spend. Simply apply online and the bonus will be credited directly to your account when the card is activated.
Neo Credit card - Earn cashback
The Neo Credit card stands out from other cashback credit cards. In fact, Neo partners directly with companies to offer cashback that varies according to location and ongoing promotions.
Neo partners across Canada
Neo has thousands of partners across Canada. These partners include most major chains of gas stations, grocery stores, restaurants, gyms, cafés and more. For example, here is an overview of Neo partners in Montreal’s Rosemont district:
Many independent restaurants are partners, offering cashback 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 :
- Second Cup Coffee Co. (10%)
- Harry Rosen (10%)
- Boston Pizza (8%)
- DAVIDsTEA (7%)
- Pandora (7%)
- ALDO (6%)
- Public Mobile (5%)
- Best Western (5%)
- Decathlon (5%)
- La Vie en Rose (4%)
- Shell (on the app only, 4%)
- Uber, Lyft (3%)
- Uber Eats, SkipTheDishes, DoorDash (3%)
- Netflix, Disney+, Apple, Spotify, Crave (3%)
The full list of partners is available on the Neo website and app. There’s something for everyone, with a great variety of restaurants, bars, stores and online shops.
What’s more, you’ll receive a basic 1% cashback at grocery stores and gas stations across Canada. Costco transactions are also eligible for the 1% cashback. A limit of $300 in cashback per month applies.
Personalize your rewards with extras
Neo offers a package that lets you accumulate even more rewards: the Premium plan. For $4.99 a month, members who sign up for the extra benefit from enhanced cashback rates, plus :
- a credit rating monitoring system ;
- purchase protection ;
- group life insurance of $2,500 ;
- and legal assistance at all times.
The following table summarizes the cashback rates available with the Premium plan:
| Basic package | With Premium | |
| Uber, Lyft | 3 % | 4 % |
| Uber Eats, SkipTheDishes, DoorDash | 3 % | 4 % |
| Netflix, Disney+, Apple, Spotify, Crave | 3 % | 4 % |
| Gas | 1 % | 3 % |
| Groceries | 1 % | 3 % |
| All other purchases | – | 0,5 % |
Cashback rates with certain partners are also higher. All the details can be found on this page.
In addition to the Premium plan, Neo offers four other monthly subscription perks:
- Travel ($4.99)
- Mind and Body ($9.99)
- Food and Drinks ($1.99)
- Mobile and Personal protection ($9.99)
These perks offer boosted cashback rates on certain expenses, plus special benefits such as insurance. Find out more here.
Claiming cash rewards
To get the cash rewards, simply go to the mobile app and tap on the cashback total in the top left-hand corner. Then tap on Cash-out. You can choose whether to redeem your rewards on the Neo Credit card or in a Money account.
You can claim your rewards at any time. There’s no need to wait until the end of the month or for a particular statement during the year.
Paying your Neo Credit card statement
There are two ways to pay for your Neo Credit card:
- via the mobile application with a Neo Money account or ;
- via your banking institution.
If you don’t have a Neo Money account, go to the website of your usual bank. Add Neo as a payee and process payment as a regular bill.
Traveling with the Neo Credit card
As a partner of the Mastercard network, Neo Credit works almost anywhere in the world. Just use it like any other credit card, where Mastercard is accepted.
However, Neo has no partners abroad. As a result, it will not be possible to accumulate cashback (unless you subscribe to the Travel perk).
Finally, the Neo Credit card charges a 2.5% fee on foreign currency transactions. This is also the case for the vast majority of credit cards in Canada, except for a few. Find our guide to the best no-FX-fee credit cards here and our tips for saving on ATM withdrawals here.
Bottom Line
Neo Financial represents a new option in the digital banking landscape, with over a thousand partners across Canada. Its flagship product, the Neo Credit card, offers instant cashback on everyday expenses. Plus, get even more rewards by adding perks in the categories where you spend the most.
Want to learn more about other Neo products? Read our guides to Neo mortgage services, the Money account and the high-interest savings account:
Questions
How can I contact Neo customer service?
You can chat with the support team every day, from 7 a.m. to 8 p.m. You must be logged in to your account to access support.
Come to discuss that topic in our Facebook Group!
