{"id":966325,"date":"2022-01-05T15:20:29","date_gmt":"2022-01-05T20:20:29","guid":{"rendered":""},"modified":"2026-04-28T13:58:33","modified_gmt":"2026-04-28T17:58:33","slug":"neo-secured-card-review","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/credit-cards\/neo-secured-card-review","title":{"rendered":"Neo Secured Mastercard review"},"content":{"rendered":"<p>Designed for borrowers with less-than-good credit, this card does not require a credit check, and the amount of your security deposit determines your purchase limit.<\/p>Neo Financial is an online financial institution that offers credit cards, spending and savings accounts, investment solutions and mortgages. Neo gives Canada&#8217;s Big Banks a run for their money, but its secured credit card might not be right for everyone. Keep reading to find out why.<article class=\"luna-card luna-card--primary luna-card--border\">\n  <div class=\"luna-card__block\" style=\"padding:0.7em\">\n<span style=\"font-size:0.9em; font-weight: 800; font-style: italic; text-transform: uppercase;\">Related: <\/span><a href=\"https:\/\/www.finder.com\/ca\/banking\/neo-financial\" style=\"text-decoration:underline; font-size:0.9em;\">Learn more about Neo Financial products<\/a>\n<\/div>\n<\/article><h3>Neo membership plans<\/h3><p>There are three Neo plans available. To get a Secured Mastercard, you&#8217;ll need to choose either the Build or Grow plans.<ul><br \/> \t<li style=\"padding-bottom: 7pt;\"><strong>Essentials ($0):<\/strong> Earn 2.25% interest with Neo Savings, plus earn cash back at Neo partner retailers. Get free everyday transactions and insights into your spending.<\/li><br \/> \t<li style=\"padding-bottom: 7pt;\"><strong>Build ($0 - $7.99):<\/strong> Get 2.50% interest with Neo Savings and earn accelerated cash back at Neo partner retailers. Other benefits include access to credit building and monitoring tools, Neo Money ATM fee reimbursement, secured credit limit, free everyday transactions and insights into your spending.<\/li><br \/> \t<li style=\"padding-bottom: 7pt;\"><strong>Grow ($0 - $12.99):<\/strong> Get 3.00% interest with Neo Savings and earn accelerated cash back at Neo partner retailers. Get premium support, access to credit building and monitoring tools, Neo Money ATM fee reimbursement, secured credit limit, free everyday transactions and insights into your spending.<\/li><br \/><\/ul><div class=\"signpost-cta type-default u-bg--lime-500\" data-component=\"signpost-cta\" data-component-type=\"default\" data-component-placement=\"in-content\" data-click-target=\"https:\/\/www.finder.com\/ca\/cash-advance-apps\">\n\n    <div class=\"signpost-cta__content\">\n\n        <div class=\"signpost-cta__display-col\">\n                            <svg class=\"signpost-cta__icon\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"64\" height=\"42\" viewBox=\"0 0 314.16 201.03\" fill=\"none\">\n                    <path d=\"M212.32,190.62c-19.66,0-38.8-6.44-54.42-18.24-15.63,11.79-34.77,18.24-54.42,18.24-49.84,0-90.39-40.55-90.39-90.39V9.83h199.24c49.84,0,90.39,40.55,90.39,90.39s-40.55,90.39-90.39,90.39Z\" fill=\"white\"><\/path>\n                    <path d=\"M212.32,15.9c46.57,0,84.33,37.75,84.33,84.33h0c0,46.57-37.75,84.33-84.33,84.33h0c-20.75,0-39.74-7.51-54.42-19.94-14.69,12.43-33.68,19.94-54.42,19.94h0c-46.57,0-84.33-37.75-84.33-84.33V15.9h193.18M212.32,3.76H7.01v96.46c0,53.19,43.27,96.46,96.46,96.46,19.47,0,38.46-5.92,54.43-16.84,15.96,10.91,34.95,16.84,54.42,16.84,53.19,0,96.46-43.27,96.46-96.46S265.51,3.76,212.32,3.76h0Z\" fill=\"#232320\"><\/path>\n                    <path d=\"M216.34,90.21c.19-1.69,1.76-2.87,3.43-2.6,11.91,1.94,22.41-7.31,20.93-20.1-.45-3.93-2.28-6.56-4.43-9.31-1.05-1.35-.74-3.34.71-4.26,15.6-9.82,31.64-1.91,40.78,13.29,11.21,18.64,11.54,47.15.53,65.94-15.41,26.3-42.91,23.48-56.04-3.04-6.09-12.29-7.47-26.4-5.92-39.93Z\" fill=\"#232320\"><\/path>\n                    <path d=\"M105.92,90.21c.19-1.69,1.76-2.87,3.43-2.6,11.91,1.94,22.41-7.31,20.93-20.1-.45-3.93-2.28-6.56-4.43-9.31-1.05-1.35-.74-3.34.71-4.26,15.6-9.82,31.64-1.91,40.78,13.29,11.21,18.64,11.54,47.15.53,65.94-15.41,26.3-42.91,23.48-56.04-3.04-6.09-12.29-7.47-26.4-5.92-39.93Z\" fill=\"#232320\"><\/path>\n                <\/svg>\n                    <\/div>\n\n        <div class=\"signpost-cta__text\">\n    <p class=\"signpost-cta__heading\">Need to borrow money with no credit check?<\/p>\n            <p class=\"signpost-cta__description\">Check out cash advance apps<\/p>\n    <\/div>\n\n    <\/div>\n\n    <div class=\"signpost-cta__action\">\n            <a href=\"https:\/\/www.finder.com\/ca\/cash-advance-apps\" class=\"luna-button luna-button--primary signpost-cta__button\" data-tracking=\"signpost-cta-click\">Let's go<\/a>\n        <\/div>\n<\/div>\n\n<h3>Neo membership plan costs<\/h3><p>With three Neo plans &#8211; Essentials, Build and Grow &#8211; you&#8217;ll pay anywhere from $0 &#8211; $12.99 per month. However, it&#8217;s possible to get any of the plans for $0 per month with one of the following two ways:<\/p><ul class=\"list-1\"><li><strong>Save your money with Neo.<\/strong> Get the Build membership at no cost when you keep at least $5,000 across your Neo Chequing, Neo Savings, or Neo High-Interest Savings accounts. You can get Grow at no cost if you keep at least $20,000 with Neo.<\/li><li><strong>Get a World Elite Mastercard.<\/strong> If you have the Neo World Elite Mastercard or Cathay World Elite Mastercard, then you can get the Build membership at no extra cost. Since you&#8217;ll likely not be eligible for either of these if you&#8217;re looking at a secured credit card, you&#8217;ll need to consider the first option.<\/li><\/ul><article class=\"luna-card luna-card--primary luna-card--border\">\n  <div class=\"luna-card__block\" style=\"padding:0.7em\">\n<span style=\"font-size:0.9em; font-weight: 800; font-style: italic; text-transform: uppercase;\">Related: <\/span><a href=\"https:\/\/www.finder.com\/ca\/credit-cards\/neo-secured-credit-card-alternatives\" style=\"text-decoration:underline; font-size:0.9em;\">Discover Neo Secured Mastercard alternatives<\/a>\n<\/div>\n<\/article><h3>How to boost your cash back with the Secured Neo Mastercard<\/h3><p>Whether you have the standard or the Premium plan, it&#8217;s possible to boost your gas and grocery cash back rate to 3% by holding at least $5,000 on a Neo Money Account Prepaid Card or 4% with a balance of at least $10,000. Plus you&#8217;ll begin earning 0.5% cash back on all other purchases.<p>Premium plan perks apply on top of this\u2014including the boosted cash back rates.<\/p><h3>Neo credit card perks<\/h3><ul class=\"list-1\"><li><strong>Easy to get approved.<\/strong> It&#8217;s fairly easy to get approved for a secured credit card, and there&#8217;s no credit check.<\/li><li><strong>Flexible spending limits.<\/strong> You control your purchase limit. Spend up to the amount deposited on your card in advance, which can be anywhere from $50 to $10,000.<\/li><li><strong>Improve your credit score.<\/strong> The Neo secured card is a real credit card, and your activity gets reported to Canadian credit bureaus. Using your card responsibly could improve your credit score.<\/li><li><strong>Accelerated cash back.<\/strong> Spend at Neo partner retailers to earn an average of 5% cash back. Tiered cash back applies when you spend on groceries, gas and EV charging\u2014you could earn up to 6% with a Premium plan subscription and a $10,000+ Neo Money Account balance.<\/li><li><strong>Premium plan perks.<\/strong> With the Build or Grow membership plans, you&#8217;ll get access to extra perks like earning interest with Neo Savings, earning accelerated cash back at Neo partner retailers, premium support, access to credit building and monitoring tools, Neo Money ATM fee reimbursement, secured credit limit, free everyday transactions and insights into your spending.<\/li><li><strong>Multiple ways to add funds.<\/strong> Simply link an external account or send Neo an Interac e-Transfer to load funds into your account.<\/li><\/ul><h3>What to watch out for with the Neo Secured Credit Card<\/h3><p>Unlike it&#8217;s counterpart, the <a href=\"https:\/\/www.finder.com\/ca\/credit-cards\/neo-financial-credit-card-review\">Neo Mastercard<\/a>, the Neo Secured Mastercard does not require a credit check, making it easy for those with bad credit to get approved. The tradeoff is that you&#8217;ll have to provide funds up front to spend.<\/p><ul class=\"list-3\"><li><strong>Deposit required.<\/strong> You can only spend funds deposited onto your card. This is refundable should you close the account at any point.<\/li><li><strong>High interest rates for bad credit cardholders.<\/strong> Neo determines your purchase rate when you sign up, and it could be 19.99%-29.99% for purchases and 22.99%-31.99% for cash advances.<\/li><li><strong>No balance transfers.<\/strong> You can&#8217;t initiate a balance transfer with the Neo credit card in Canada.<\/li><li><strong>No in-person service.<\/strong> As Neo Financial is an online insitution, you can&#8217;t get in-person service at a local branch.<\/li><\/ul><p>Use this card regularly and make on-time payments to improve your credit score. Once your financial profile strengthens, you can apply for <a href=\"https:\/\/www.finder.com\/ca\/credit-cards\">other cards with more features<\/a>.<\/p><h3>Neo Secured Credit Card interest rates<\/h3><table class=\"luna-table luna-table--responsiveList\"><thead class=\"luna-table__header\"><tr><th style=\"width: 50%; text-align: left;\" scope=\"col\"><b>Interest Type<\/b><\/th><th style=\"width: 50%; text-align: left;\" scope=\"col\"><b>Interest Rate<\/b><\/th><\/tr><\/thead><tbody><tr><td>Purchase interest rate<\/td><td>19.99%-29.99%<\/td><\/tr><tr><td>Cash advance rate<\/td><td>22.99%-31.99%<\/td><\/tr><\/tbody><\/table><h3>What should I know before I apply for the Neo Secured Mastercard?<\/h3><p>Here&#8217;s what you should know before applying for the Neo Secured Credit Card in Canada.<\/p><h4>Eligibility requirements<\/h4><p>To apply for the Neo Secured Mastercard, you must:<\/p><ul><li>Be a resident of Canada<\/li><li>Be at least the age of majority in your province or territory (18 or 19 years old)<\/li><li>Have at least $50 to provide for a security deposit (max. $10,000)<\/li><\/ul><h4>Required documents and information<\/h4><ul class=\"list-7\"><li>Your full name and contact information<\/li><li>Your Social Insurance Number (SIN) and date of birth<\/li><li>Your employment details<\/li><li>Your financial information, including any debts and assets<\/li><\/ul><h3>How to apply for the Neo Secured Credit Card<\/h3><ol><li>Go to the <a target=\"_blank\" rel=\"sponsored\" href=\"https:\/\/www.finder.com\/redirect\/ca\/credit-cards\/neo-secured-card-review-ca-secure.html?nb=1&src_country=ca&redirect_tracking_params=%7B%22placement_type%22%3A%22product_link%22%2C%22title%22%3A%22Neo%2BFinancial%2Bwebsite%22%2C%22site%22%3A%22CACCF%22%2C%22offer_id%22%3A%2223459%22%2C%22niche_code%22%3A%22CACCF%22%2C%22product_id%22%3A%22d07a3780-7217-4fef-81bb-ee48362b10bd%22%2C%22product_name%22%3A%22Neo%2BSecured%2BMastercard%22%2C%22provider_id%22%3A%22dd309337-1cc7-41b3-b99d-2c495fe53daa%22%2C%22provider_name%22%3A%22Neo%2BFinancial%22%2C%22post_id%22%3A%22966325%22%2C%22post_path%22%3A%22credit-cards%252Fneo-secured-card-review%22%2C%22post_country%22%3A%22ca%22%7D\">Neo Financial website<\/a>.<\/li><li>Create a Neo Financial profile (if you don&#8217;t already have one) using your name, email address and phone number.<\/li><li>Enter basic details such as your date of birth, address and employment information.<\/li><li>Verify your identity by taking a photo of yourself and your photo identification such as a driver&#8217;s license, provincial ID card or Canadian\/international passport.<\/li><li>Set your preferred credit limit and choose either the Build or Grow membership plan. Review and submit your application.<\/li><li>If approved, you&#8217;ll receive your card within 15 business days (3-5 business days with rush delivery).<\/li><li>Activate the Neo Secured Mastercard online without signing into your account. Go to the account login page, select the <strong>Activate<\/strong> button and follow the prompts.<\/li><\/ol><section class=\"hero-rates__cta\">\r\n        <div class=\"applylinks CACCF has-margin-top-small\">\r\n          <a\r\n            class=\"luna-button luna-button--success luna-button--cta has-margin-bottom-xsmall\"\r\n            rel=\"nofollow\"\r\n            href=\"https:\/\/www.finder.com\/redirect\/ca\/credit-cards\/neo-secured-card-review-ca-secure.html?nb=1&src_country=ca&redirect_tracking_params=%7B%22placement_type%22%3A%22nb-product%22%2C%22product_id%22%3A%22d07a3780-7217-4fef-81bb-ee48362b10bd%22%2C%22product_name%22%3A%22Neo%2BSecured%2BMastercard%22%2C%22offer_id%22%3A%2223459%22%2C%22decorator%22%3A%22GLOBAL.PRODUCT.HERO_BUTTON_DYNAMIC_CTA%22%2C%22niche_code%22%3A%22CACCF%22%2C%22post_id%22%3A%22966325%22%2C%22post_path%22%3A%22credit-cards%252Fneo-secured-card-review%22%2C%22post_country%22%3A%22ca%22%7D\"\r\n            target=\"_blank\">\r\n            Go to site\r\n          <\/a>\r\n\r\n        <\/div>\r\n      <\/section><h3>Is the Neo Secured Credit Card safe?<\/h3><p>As a Money Services Business, Neo Financial is regulated by FINTRAC (Financial Transactions and Reports Analysis Centre of Canada). The company partners with other well-known financial institutions to provide services, including Mastercard and Peoples Bank.<\/p><p>As an additional layer of protection for customers&#8217; accounts, Neo uses verification codes. If someone gains unauthorized access to your card, it&#8217;s easy to login and freeze your card, disable certain transactions or request a replacement card.<\/p><h3>I got the card&#8230; now what?<\/h3><p>Follow these steps to make sure you get the most out of your Neo Secured Mastercard:<\/p><ol><li>Make on-time repayments to build your credit and avoid paying unnecessary interest charges.<\/li><li>Read your service agreement carefully to know what fees you&#8217;ll need to pay before you use certain services.<\/li><li>Keep an eye on your credit score to make sure it&#8217;s improving.<\/li><li>Watch for deals on the Neo site or app to make sure you cash in on the best cashback rewards.<\/li><\/ol><h3>Bottom line<\/h3><p>With cash back rewards, an easy online application and no credit check requirement, the Neo secured card is an attractive option for borrowers with all types of credit score.<\/p><p>If you want benefits like travel and entertainment discounts, the Neo Secured Mastercard might not be right for you. But it&#8217;s a solid option if you&#8217;re having trouble qualifying for other credit cards and you&#8217;d like to earn cash back and access other basic perks like credit monitoring.<article class=\"luna-card luna-card--primary luna-card--border\">\n  <div class=\"luna-card__block\" style=\"padding:0.7em\">\n<span style=\"font-size:0.9em; font-weight: 800; font-style: italic; text-transform: uppercase;\">Related: <\/span><a href=\"https:\/\/www.finder.com\/ca\/credit-cards\/cash-back-credit-cards\" style=\"text-decoration:underline; font-size:0.9em;\">Explore more cash back credit cards in Canada<\/a>\n<\/div>\n<\/article><ul class=\"luna-accordionGroup accordionGroup\">\n\t<li class=\"luna-accordion\" data-accordion=\"accordion\">\n    <div class=\"luna-accordion__summary\">\n        <h4 class=\"luna-accordion__heading\">\n            <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"faq-builder-0000000000\" data-toggle=\"collapse\" data-target=\"#faq-builder-0000000000\">\n                <span class=\"luna-accordion__title\">Is the Neo Secured Credit Card a prepaid card or a credit card?<\/span>\n                <svg class=\"luna-icon\" aria-hidden=\"true\">\n                    <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n                    <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n                <\/svg>\n            <\/button>\n        <\/h4>\n    <\/div>\n    <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"faq-builder-0000000000\" data-accordion=\"details\">\n        <div class=\"accordionContent\">\n            <div>\n                <p>The Neo Secured Mastercard is a genuine credit card, not a prepaid card. Your account will be reported to Canada's credit bureaus, so using this card will impact your credit score.<\/p>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/li>\n<li class=\"luna-accordion\" data-accordion=\"accordion\">\n    <div class=\"luna-accordion__summary\">\n        <h4 class=\"luna-accordion__heading\">\n            <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"faq-builder-0000000001\" data-toggle=\"collapse\" data-target=\"#faq-builder-0000000001\">\n                <span class=\"luna-accordion__title\">What is the credit limit for a Neo Secured Credit card?<\/span>\n                <svg class=\"luna-icon\" aria-hidden=\"true\">\n                    <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n                    <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n                <\/svg>\n            <\/button>\n        <\/h4>\n    <\/div>\n    <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"faq-builder-0000000001\" data-accordion=\"details\">\n        <div class=\"accordionContent\">\n            <div>\n                <p>You can deposit anywhere from $50 to $10,000, which becomes your Neo Secured Mastercard limit.<\/p>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/li>\n<li class=\"luna-accordion\" data-accordion=\"accordion\">\n    <div class=\"luna-accordion__summary\">\n        <h4 class=\"luna-accordion__heading\">\n            <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"faq-builder-0000000002\" data-toggle=\"collapse\" data-target=\"#faq-builder-0000000002\">\n                <span class=\"luna-accordion__title\">Can I use my Neo Secured Credit Card with Apple Pay and Google Pay?<\/span>\n                <svg class=\"luna-icon\" aria-hidden=\"true\">\n                    <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n                    <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n                <\/svg>\n            <\/button>\n        <\/h4>\n    <\/div>\n    <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"faq-builder-0000000002\" data-accordion=\"details\">\n        <div class=\"accordionContent\">\n            <div>\n                <p>Yes, the Neo Secured Mastercard works with both Google Pay and Apple Pay.<\/p>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/li>\n<li class=\"luna-accordion\" data-accordion=\"accordion\">\n    <div class=\"luna-accordion__summary\">\n        <h4 class=\"luna-accordion__heading\">\n            <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"faq-builder-0000000003\" data-toggle=\"collapse\" data-target=\"#faq-builder-0000000003\">\n                <span class=\"luna-accordion__title\">Will I get my deposit back if I cancel my card?<\/span>\n                <svg class=\"luna-icon\" aria-hidden=\"true\">\n                    <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n                    <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n                <\/svg>\n            <\/button>\n        <\/h4>\n    <\/div>\n    <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"faq-builder-0000000003\" data-accordion=\"details\">\n        <div class=\"accordionContent\">\n            <div>\n                <p>Yes, you'll get your deposit back after cancelling your Neo secured Mastercard and paying any outstanding balance.<\/p>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/li>\n<li class=\"luna-accordion\" data-accordion=\"accordion\">\n    <div class=\"luna-accordion__summary\">\n        <h4 class=\"luna-accordion__heading\">\n            <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"faq-builder-0000000004\" data-toggle=\"collapse\" data-target=\"#faq-builder-0000000004\">\n                <span class=\"luna-accordion__title\">What other products does Neo Financial offer?<\/span>\n                <svg class=\"luna-icon\" aria-hidden=\"true\">\n                    <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n                    <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n                <\/svg>\n            <\/button>\n        <\/h4>\n    <\/div>\n    <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"faq-builder-0000000004\" data-accordion=\"details\">\n        <div class=\"accordionContent\">\n            <div>\n                <p>Neo Financial offers more than a cash back credit card. If you qualify, you can also earn cash back rewards and bypass the monthly fee with the Neo Mastercard (and the standard plan). The Neo Savings Account pays up to 3.00%<span class=\"table-popover\" rel=\"popover\" data-content=\"Earn 2.25% interest on balances up to $4,999.99, 2.50% on balances between $5,000.00 and $19,999.99 and 3.00% interest on balances over $20,000.00. <br \/>Interest calculated: daily, Interest paid: monthly\" title=\"\" data-original-title=\"More info\"<\/span> interest on your balance. Earn cashback when you spend with the Neo Chequing Account. Neo also offers actively managed investment portfolios and mortgages.<\/p>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/li>\n\n<\/ul>\n<div id=\"sources\" style=\"position: relative;\"><h3 style=\"position: absolute; width: 1px; height: 1px; padding: 0; margin: -1px; overflow: hidden; clip: rect(0,0,0,0); white-space: nowrap; border: 0;\">Sources<\/h3><div class=\"sources sources__f1\" >\n    <link rel=\"stylesheet\" href=\"https:\/\/www.finder.com\/parent-theme\/shortcodes\/article-source\/prod\/article-source.87684078d471e76125dd.css\">\n    \n  <ul class=\"luna-accordionGroup accordionGroup\">\n    <li class=\"luna-accordion\" data-accordion=\"accordion\">\n      <div class=\"luna-accordion__summary\">\n        <h3 class=\"luna-accordion__heading\">\n          <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"sources_1389148297\" data-toggle=\"collapse\" data-target=\"#sources_1389148297\">\n            <span class=\"luna-accordion__title u-text--lg u-font--bold\">Sources<\/span>\n            <svg class=\"luna-icon\" aria-hidden=\"true\">\n              <use href=\"#chevron-down\" data-accordion-icon=\"show\" ><\/use>\n              <use href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n            <\/svg>\n          <\/button>\n        <\/h3>\n      <\/div>\n      <div class=\"luna-accordion__details collapse \" aria-hidden=\"true\" id=\"sources_1389148297\" data-accordion=\"details\" >\n        <div class=\"accordionContent\">\n          <p class=\"sources__description\">Finder writers are subject matter experts and use primary sources, in-depth research and interviews with other experts to ensure you're getting accurate, up-to-date information. Articles are <a href=\"https:\/\/www.finder.com\/ca\/why-trust-us\">fact checked<\/a> in line with our <a href=\"https:\/\/www.finder.com\/ca\/editorial-guidelines\">editorial guidelines<\/a>.<\/p>\n          <ol class=\"u-pl--0 u-text--lg u-font--medium\">\n                                          <li class=\"u-leading--loose\"><a class=\"u-font--medium\" href=\"https:\/\/www.neofinancial.com\/credit\/secured\" target=\"_blank\">Neo Financial: Neo Secured Credit Card, Accessed July 11, 2025<\/a><\/li>\n                                                        <li class=\"u-leading--loose\"><a class=\"u-font--medium\" href=\"https:\/\/fintrac-canafe.canada.ca\/msb-esm\/msb-eng\" target=\"_blank\">FINTRAC: Money services businesses, Last modified September 18, 2024<\/a><\/li>\n                                    <\/ol>\n        <\/div>\n      <\/div>\n    <\/li>\n  <\/ul>\n    <script defer src=\"https:\/\/www.finder.com\/parent-theme\/shortcodes\/article-source\/prod\/article-source.de087a0da9824e407767.js\"><\/script>\n  <\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>The Neo secured card has made waves across Canada, but is it worth the buzz? Find out in our review.<\/p>\n","protected":false},"author":685,"featured_media":1034256,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"apple_news_api_created_at":"","apple_news_api_id":"","apple_news_api_modified_at":"","apple_news_api_revision":"","apple_news_api_share_url":"","apple_news_cover_media_provider":"image","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_cover_video_id":0,"apple_news_cover_video_url":"","apple_news_cover_embedwebvideo_url":"","apple_news_is_hidden":"","apple_news_is_paid":"","apple_news_is_preview":"","apple_news_is_sponsored":"","apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"","apple_news_slug":"","apple_news_sections":[],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[91],"tags":[],"asset_tag":[],"class_list":["post-966325","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-credit-cards"],"apple_news_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.9 (Yoast SEO v24.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Neo Secured Card Review : Pros &amp; Cons | Finder Canada<\/title>\n<meta name=\"description\" content=\"The Neo Secured Credit Card offers a lot for those with bad credit, but the perks are limited. 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Your account will be reported to Canada's credit bureaus, so using this card will impact your credit score.\r"}},{"@type":"Question","name":"What is the credit limit for a Neo Secured Credit card?","acceptedAnswer":{"@type":"Answer","text":"\rYou can deposit anywhere from $50 to $10,000, which becomes your Neo Secured Mastercard limit.\r"}},{"@type":"Question","name":"Can I use my Neo Secured Credit Card with Apple Pay and Google Pay?","acceptedAnswer":{"@type":"Answer","text":"\rYes, the Neo Secured Mastercard works with both Google Pay and Apple Pay.\r"}},{"@type":"Question","name":"Will I get my deposit back if I cancel my card?","acceptedAnswer":{"@type":"Answer","text":"\rYes, you'll get your deposit back after cancelling your Neo secured Mastercard and paying any outstanding balance.\r"}},{"@type":"Question","name":"What other products does Neo Financial offer?","acceptedAnswer":{"@type":"Answer","text":"\rNeo Financial offers more than a cash back credit card. If you qualify, you can also earn cash back rewards and bypass the monthly fee with the Neo Mastercard (and the standard plan). The Neo Savings Account pays up to 3.00%<span class=\"table-popover\" rel=\"popover\" data-content=\"Earn 2.25% interest on balances up to $4,999.99, 2.50% on balances between $5,000.00 and $19,999.99 and 3.00% interest on balances over $20,000.00. <br \/>Interest calculated: daily, Interest paid: monthly\" title=\"\" data-original-title=\"More info\"<\/span> interest on your balance. Earn cashback when you spend with the Neo Chequing Account. Neo also offers actively managed investment portfolios and mortgages.\r"}}]}]},"article_modified_time":"2025-12-29T08:36:45+00:00"},"custom_fields":{"_masthead_variant":["{\"id\":\"standard-blue\",\"showFeaturedImage\":false,\"presetId\":\"\",\"shouldUsePrimaryCTAFieldName\":false,\"shouldUseSecondaryCTAFieldName\":false,\"primaryCTA\":null,\"secondaryCTA\":null,\"widgetShortcode\":\"\",\"widgetHeading\":\"\",\"widgetStats\":\"\",\"hasPrioritizedWidget\":false,\"hasMaximizedWidget\":false,\"shouldUseOverrideCTALabel\":false,\"overrideCTA\":null,\"cleanTopPicks\":\"\",\"tilesMenuId\":\"\"}"],"_masthead_subheading":["{\"text\":\"Yes, it&#039;s a real credit card. 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