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Neo Financial Credit Card Review

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Earn cash back at thousands of local and national businesses with the innovative fee-free Neo credit card.  

19.99% to 24.99%

Purchase Interest Rate


Annual Fee


Product NameNeo Financial Credit Card
Purchase Interest Rate19.99% to 24.99%
Cash Advance Rate22.99% to 26.99%
Balance Transfer RateN/A
More Info
Please note: All information about Neo Financial Credit Card has been collected independently by Finder and this product is not available through this site.

The Neo Financial Credit Card lets you earn a high return on cash back with thousands of local and national businesses across Canada. You’ll earn an average of 4% cash back with Neo Rewards partners with its fee-free card. You can also pay a small monthly fee to get a larger cash back return. The Neo Mastercard is available Canada-wide with the exception of Quebec which will be coming soon. Find out more about how you can apply for this innovative card and sign up today to get started.

30-second take

  • Get a Neo credit card if you’d like to earn cash back at your favourite stores and you want to save money while discovering new places to shop.
  • There is no there is no minimum annual income required to open an account.
  • Choose something else if you want extended benefits or you’d prefer to sign up with a more well-established provider.

    The basics

    The Neo Financial Credit Card is an innovative credit card that lets you earn cash back when you shop with partner stores. All you have to do is open the Neo app to find out which partners are offering cash back deals when and where you want to shop. Then, you just use your Neo credit card to shop with that store in-person or online to start saving.

    You’ll earn an average rate of 4% cash back with Neo’s fee-free card, though returns can range as high as 20% if you’re strategic about your purchases. You’ll also earn a higher return with partners and on everyday spending if you sign up for a Neo Plus or Neo Max credit card and pay a small monthly fee.

    The main downside of the Neo Financial Credit Card is that it doesn’t come with extra benefits or credit card insurance. You also won’t earn a baseline cash back return for shopping with non-partner stores if you sign up for the fee-free version of the card.

    Which merchants does Neo work with?

    It’s difficult to say which stores Neo partners with because it doesn’t yet have a dedicated list of partners listed anywhere on its website. You can sign up for the card from anywhere in Canada (except Quebec), though this is coming soon.

    Which Neo credit card is right for me?

    You can sign up for three different Neo credit card plans—Essential, Plus and Max—depending on how much cash back you want to earn and how much you’re willing to pay for your monthly fee. Just keep in mind that you won’t be guaranteed the cash back rates listed below since rates may vary by merchant.

    Before you sign up for a premium card, you should make sure that you’ll be able to earn enough cash back to make up for the monthly fee you’ll have to pay to maintain your card. You should also keep in mind that you’ll only earn cash back with non-partners on purchases up to $1,250 per month per month.

    The perks

    • Accelerated cash back. Earn an average of 4% cash back with the fee-free card and even more with a premium Neo credit card.
    • Automatic rewards. Your cash back will be automatically applied to your credit card balance, so you won’t have to redeem your rewards at regular intervals.
    • Streamlined mobile app. You can manage your transactions and shop around for deals using Neo Financial’s easy-to-use mobile app.
    • In-app security controls. You just have to toggle a switch in the app to freeze or replace your card or turn off online transactions.

    What to watch out for

    • No basic insurance. Unlike most fee-free credit cards, you won’t get basic insurance such as purchase protection or extended warranty with this card.
    • No extended benefits. The Neo Rewards credit card doesn’t come with extra benefits such as roadside assistance, mobile phone protection or travel insurance—but it does have higher cash back rates than many other cards in the market.
    • Cap on rewards with non-partners. You can only earn cash back when you spend up to $1,250 per month per month with non-partners (for premium cards only).
    • Premium cards come with a monthly fee. You’ll have to pay a monthly fee that sits between $4.99 and $9.99 if you want to earn accelerated cashback.

    What should I know before I apply?

    Neo Credit Card Eligibility requirements

    To apply for the Neo Financial Credit Card, you need to meet the following criteria:

    • Be a Canadian citizen or permanent resident who is at least 18 years old

    Required documents and information:

    • Your name, residential status and contact information
    • Your Social Insurance Number (SIN) and date of birth
    • Your email address and phone number

    How to apply

    1. Visit the Neo Financial website to be directed to your Neo Financial Credit Card application.
    2. Complete the application with details that include your name, email address, Social Insurance Number and birth date.
    3. Review and submit your application.

    Bottom line

    The Neo Financial Credit Card is an innovative credit card that lets you earn an average rate of 4% cash back on purchases. You can easily earn rewards by shopping with partner stores and scanning for deals in Neo’s mobile app. Just be aware that this card is relatively new and seems to offer limited local deals in most Canadian cities. It also doesn’t come with any basic insurance or added benefits.

    Frequently asked questions about the Neo Financial Credit Card

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