Neo Financial · Mastercard
$149 for 2% on the first $4,000 you spend each month and 1% after that. The monthly cap does not appear on the product page.
Rates and features verified 2026-08-18Full terms and conditionsHow we research cards
What we like, and what we don’t
Worth having
- 2% on everything with no categories, up to the monthly limit
- You can switch to a profile paying 5% on groceries or 5% on dining instead
- Airport lounge access through DragonPass and rental car collision damage cover
- Cash back is flexible: spend it in the Neo store, move it to a Neo account, or credit it to the balance
- Approval is quick and the virtual card works immediately
Watch out for
- The 2% applies only to the first $4,000 a month. Neo does not say so on the product page
- You need roughly $14,900 of qualifying spend a year just to beat the free Neo World card
- The foreign transaction fee is 3%, higher than the Canadian standard of 2.5%
- Neo does not publish a single insurance amount, day limit or age limit anywhere we could find
- The interest rate is a range from 19.99% to 29.99%, so the advertised rate is not what everyone gets
- $80,000 personal or $150,000 household income required
What this card earns
- Everything else
- 2%
- Bonus categories at once
- 2 you choose which
The earning fine print
Flat 2% cashback on all purchases, but ONLY on the first $4,000 of spend per calendar month; spend above $4,000 in a month earns unlimited 1%. The $4,000 monthly threshold is not shown on the product landing page. Neo discloses it in its blog and in the June 2026 launch press release. Because the limit is monthly and resets, the effective maximum bonus earn is $4,000/month at 2%, but Neo publishes no annual cap so earn_cap_annual is NOT PUBLISHED. Partner-merchant boosts are advertised as 'an average of 5% cashback with Neo partners'. Personalised, rotating and unpublished as fixed rates. Cashback accrues instantly to a Rewards Wallet and can be spent in the Neo Store, transferred to a Neo account, or cashed out against the card balance.
What the offer actually requires
No welcome bonus published for this variant.
Fees and interest rates
- Annual fee
- $149
- Additional card
- $49
- Foreign transaction fee
- 3%
- Purchase APR
- 19.99%
- Cash advance APR
- 22.99%
Who can get this card
- Minimum personal income
- $80,000
- Minimum household income
- $150,000
Insurance and benefits
- Rental car damage waiver
- Included
- Purchase protection
- Included
- Extended warranty
- Included
- Airport lounge
- Included
What the benefits really mean
Same World Elite benefit set: emergency medical, auto rental collision, baggage delay, trip interruption/cancellation, flight delay, hotel/motel burglary, purchase protection and extended warranty. Existence confirmed on Neo's pages, amounts never published in retrievable form. DragonPass lounge access, complimentary visit count not published. Build membership free while holding a World Elite card (otherwise $7.99/month). Additional cardholder $49. $29 over-limit fee once per billing cycle, not applicable in Quebec. Cash withdrawal $2.50 in Canada / $5.00 abroad. Grace period at least 21 days; minimum payment greater of $10 or 2.0% of balance plus interest and fees. This variant is Neo's direct answer to the Wealthsimple 2% card. Neo even publishes a head-to-head blog post. But unlike Wealthsimple it caps the 2% at $4,000/month and charges 3% FX versus Wealthsimple's 0%. HEADLINE VS SUBSTANCE. CAP: '2% cashback on everything' is displayed on the landing page with no cap. The 2% only applies to the first $4,000 of monthly spend; everything above that drops to 1%. The cap appears only in Neo's blog and press release. At $149/year, a cardholder must spend enough for the 1% premium over the free Neo World Everywhere (1% flat) to clear $149. Roughly $14,900/year of spend within the $4,000/month window just to break even on the fee. FX FEE CONTRADICTION: help centre says 3%, Neo's own Disclosure Statement PDF says 2.5%. Recorded conservatively at 3%. Either way this card is a poor fit for foreign spend. APR is a risk-based range 19.99% to 29.99% purchases / 22.99% to 31.99% cash advances. No insurance amounts, day limits or age limits are published in retrievable form; certificate PDFs are robots-blocked. DragonPass lounge access with no published complimentary visit count. One card with switchable plans, not three separate products. $29 over-limit fee once per billing cycle, excluding Quebec.
Our verdict
Neo has built the most opaque card in this comparison. The landing page says 2% cash back on everything, and the $4,000 monthly ceiling that makes that claim conditional appears only in a blog post and a press release. The insurance is listed by name with no amounts attached anywhere Neo publishes. We record what Neo will stand behind and leave the rest blank, which is why this card looks thinner here than in its own marketing.
On the numbers it is hard to justify. $149 buys you one extra percentage point over the free Neo World card, so you need about $14,900 a year inside the monthly window before you are ahead, and the 3% foreign transaction fee is worse than the market standard. The flexibility to pick a 5% grocery or dining profile is the genuinely interesting feature, and if your spending is concentrated enough to use it, run that arithmetic rather than ours.
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Where this came from. neofinancial.com/credit-cards/everywhere; neofinancial.com/lp/neo-world-elite/everywhere; neofinancial.com/blog/best-cash-back-credit-cards-canada; neofinancial.com/memberships; support.neofinancial.com articles 14009843, 14009958, 14009969; Neo Disclosure Statement, Rate & Fee Schedule (PDF); newswire.ca Neo four-new-cards release 4 June 2026. We take every figure from the issuer’s own pages, never from another comparison site, and we leave a field blank rather than guess at it.