Neo Financial · Mastercard
1% on everything with no fee, and a partner cash back programme Neo describes as both "up to 15%" and "an average" in the same footnote. The guaranteed rate is the only rate worth planning around.
Rates and features verified 2026-08-18Full terms and conditionsHow we research cards
What we like, and what we don’t
Worth having
- No annual fee and no fee for additional cards
- 1% on everything with no cap and no categories to track
- Available with a secured limit from $50, so it is reachable if your credit is poor
- Instant virtual card on approval, and good app controls for freezing the card and changing the PIN
- Purchase protection and extended warranty are included
Watch out for
- The partner cash back is genuinely unquantifiable. Neo publishes no merchant list, no rates, and calls 15% both a maximum and an average
- 3% foreign transaction fee, which is higher than the 2.5% almost every other card here charges
- Neo also states 2.75% on another page, so the issuer contradicts itself on its own fee
- The purchase rate is a range from 19.99% to 29.99%, so you do not know what you will be charged until you are approved
- No travel insurance, no rental car coverage, no mobile device coverage
- The secured version needs a paid Neo membership plus a $5 monthly secured card fee
- No welcome bonus
What this card earns
- Everything else
- 1%
The earning fine print
ONLY THE 1% IS GUARANTEED. Neo advertises "up to 15%" partner cash back, and its own footnote on the same page calls that same 15% an "average based on current offers at select partners". Both cannot be true. Anything above 1% requires shopping at unnamed Neo partner merchants, and Neo publishes no merchant list and no per merchant rate anywhere on its site. We record the 1% because it is the only number you are entitled to. Two other versions of this card exist with different grids: Gas and Grocery pays 2% on groceries and gas capped at $1,000 a month each, and Shop and Dine pays 2% on food and retail capped at $500 a month each, both with a 0.5% base.
Fees and interest rates
- Annual fee
- None
- Additional card
- Free
- Foreign transaction fee
- 3%
- Cash advance fee
- $2.50
- Purchase APR
- 19.99%
- Cash advance APR
- 22.99%
- Balance transfer APR
- 22.99%
Who can get this card
- Minimum personal income
- $50,000
- Minimum household income
- $80,000
Insurance and benefits
- Purchase protection
- Included
- Extended warranty
- Included
What the benefits really mean
All earn caps on the category versions of this card are MONTHLY and reset each calendar month, not annual. Purchase protection and extended warranty apply only if you were subscribed to the perk at the time of purchase, which is an unusual condition. Quebec residents have a separate and lower rate schedule and pay no over-limit fee. Neo lists DragonPass lounge access as included on two of its own comparison tables for this card and excluded on a third, so we have left it off.
Our verdict
A 1% card with a marketing layer on top. The app is genuinely good and the secured option makes it reachable for people the big banks decline, which is worth something.
What we cannot do is score the partner cash back, because Neo does not publish enough to score it. A programme that describes the same number as both a ceiling and an average, and names none of the merchants, is not something to choose a card on. Judge it as a 1% no fee card, treat anything above that as a bonus, and note the 3% foreign transaction fee is the worst on this page.
Cards worth comparing this against
Compare this against every card we track
Where this came from. neofinancial.com product pages, rates and fees disclosure June 2026, Quebec disclosure, insurance certificates page. 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.