Neo Credit card review: Neo Financial is one of Canada’s newest financial technology companies launching a challenge to traditional banking as we know it.
If you’re familiar with KOHO or STACK, Neo Financial is somewhat similar, although it offers credit cards instead of prepaid cards.
The neo financial credit card review (or Neo Card) offers cash back rewards on all purchases and has no monthly fees.
This Neo Financial credit card reviews provides insight into its cash back rewards program, how it compares to alternative cash back cards, and how to get the sign-up bonus.
What is Neo Financial? What is a neo credit card?
Neo is the latest Canadian start-up to disrupt the Canadian fintech space. Founded by the team behind Skip the Dish, Neo is headquartered in Calgary and serves Canadians across Canada, including Quebec.
Neo Financial Credit Card Canada is revolutionizing the way people spend, save and earn rewards. As of now, Neo is offering a high-reward cashback credit card and a high-interest savings account However, expect more of them in the future! Neo wants to change the way Canadians spend and save; Credit cards and savings accounts are just the beginning.
About the Neo Card
The Neo Card is a high-reward cashback credit card that offers exceptionally high cashback rates, especially if you make purchases from Neo Financial partners.
Neo offers an average of 5% for partners. Many retailers have bonus cashback offers for first-time visits, repeat visits or certain purchase thresholds.
You can view Neo Financial Partners and their cashback offers directly in the app. You can also get a glimpse of the card by signing up with your email before applying for it.
Simply browse Neo Partners based on your location or by category (such as restaurants, health and wellness, or apparel) by viewing the map.
Is Neo a credit card?
Neo is powered by Mastercard®, so your Neo Card is accepted wherever MasterCard is accepted. Applying for a Neo Card will count as a new credit application and your payment history will contribute to your credit score.
How Does The Neo Card Work?
The Neo Card is free of annual fees and has no additional limit charges By giving you extra cash in exchange for your purchases, it lets you choose where to apply those funds.
With multiple alerts to notify you about your purchases, progress or any suspicious transactions, the card helps you keep track and monitor your spending habits.
It enables you to replace your card or freeze it in case of loss as well as set your spending limits. With the app available on your smartphone, staying informed with this card is easy.
No Monthly or Annual Fees – There are no monthly or annual fees for the Neo Card. If you upgrade to their higher-level programs, you’ll pay a fee. These programs offer more rewards than free, but are only worth it if you spend more than $750 per month.
Convenient – Neo Card comes with an app that lets you manage your card right from your fingertips. You can browse rewards and store offers through the app before making a purchase.
Management – You can get real-time notifications about your transactions, when you’ve earned cashback, or when you’re due. The app lets you view your rewards and spending details, which is great for keeping track of your finances.
Security – Neo App allows users to freeze their account if they believe their card has been stolen or tampered with.
Digital Wallet – Not only do you get a physical copy of the Neo Card, you can digitize it by adding it to Apple Pay or Google Pay. This will allow you to make contactless purchases through your smartphone.
No Minimum Redemption – You can redeem your rewards at any time, there is no minimum limit.
Upgrade anytime – Regular credit cards often lock you in with their annual fees. But with Neo Financial Credit Card, you can upgrade or downgrade to another plan whenever you want.
How To Apply for the Neo Card
To get started, visit their website to fill out the short application form.
The Neo Card is available across Canada, and you can apply if you are an adult in your province and have a government-issued ID.
There is no specific credit score or income requirement to qualify, but you should be able to qualify with a ‘good’ credit score.
At a Glance – Neo Financial Credit Card in Canada
- Annual Fee: $0
- Cash Back Rewards: Average 5%+ across thousands of partners
- Purchase APR: 19.99%-26.99%
- Cash Advance APR: 22.99%-28.99%
- Credit Score Required: Variable
- Digital Wallet: Apple Pay and Google Pay
- Mobile App: Yes
Neo Mastercard is a cash back credit card. Unlike traditional banks that offer cash back rates for category spending (grocery stores, gas stations, drug stores, etc.), Neo has chosen to partner directly with specific retailers.
It’s a secure card that lets you earn cash back while helping you build your credit history with responsible use. Neo offers credit limits of up to $10,000 based on your income history and credit score.
Low credit score requirements: Some credit cards require a score of at least 660 to be considered, while many require a score of at least 725 or higher. But not with Neo. Neo’s credit card only requires a credit score of less than 600 to get approved.
Axis Bank Neo Credit Card is a lifetime free shopping type credit card. The welcome offer includes a voucher worth Rs 200 from BookMyShow and a voucher worth Rs 500 from Jabong. This EMV chip is able to provide complete protection.
The Neo Card is the most rewarding cashback credit card currently available in the Canadian market If you are looking for a rewarding cash-back card for everyday spending, Neo Financial Canada is the best option for you.
The card is especially useful if you frequent local restaurants and cafes that may be Neo partners and offer bonus cash back on first or repeat visits.
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