Neo Financial
Neo World Elite Mastercard
A premium cashback card designed for high-income Canadians that offers 5% cashback on groceries, 4% on recurring bills, 3% on gas and EV charging, and 1% on everything else. It also provides access to Neo's network of 10,000+ partner merchants for additional cashback opportunities.
Highlights
Main benefits
- 5% cashback on groceries
- 4% cashback on recurring bills
- 3% cashback on gas and EV charging
- 1% cashback on all purchases
- Up to 15% cashback at Neo partners
- DragonPass lounge membership
- Premium travel insurance package
- Cashback redeemable anytime
- Virtual card issued instantly
- Mastercard World Elite benefits
- Works at Costco Canada
- Cashback deposited into Rewards Wallet
Fees
Fees and charges
Joining fee
Zero
Renewal fee
C$125
Annual fee waiver
No
Who can apply
Eligibility
- Canadian residency
- Age of majority in your province
- Personal income of at least C$80,000 or
- Household income of at least C$150,000
- Good to excellent credit history
Checklist
Documents required
- Government-issued ID
- Canadian address
- Employment details
- Income information
- Social Insurance Number (optional but recommended)
Process
How to apply
1. Visit Neo Financial.
2. Check eligibility.
3. Submit personal and income details.
4. Receive approval decision.
5. Access virtual card immediately if approved.
Value
Reward and cashback structure
Reward rate
Groceries: 5%
Recurring Bills: 4%
Gas & EV Charging: 3%
All Other Spending: 1%
- Monthly Spending Caps**
Groceries: C$1,000
Gas & EV Charging: C$1,000
Recurring Bills: C$500
After the cap is reached, purchases earn 1% cashback for the remainder of the month.
Cashback
If you keep money in a Neo Everyday account, cashback can increase.
Points Conversion not applicable.
- Estimated Annual Value**: Up to C$1,300+ for high spenders
Good fit
Pros
- One of Canada's highest grocery cashback rates.
- Higher spending caps than many competitors.
- Strong recurring bill rewards.
- Premium travel insurance package.
- Additional cashback through Neo partners.
- Cashback available throughout the year rather than annual payout.
- Mastercard acceptance is broader than Amex.
Watchouts
Cons
- C$125 annual fee.
- Income requirement is relatively high.
- Spending caps limit maximum rewards.
- No major welcome bonus.
- 2.5% foreign transaction fee.
- Some competitors offer stronger travel benefits.
Related
Related cards
Comparer les cartes
Comparer les cartes
| Field | Neo World Elite Mastercard | SimplyCash® Preferred Card |
|---|---|---|
| Bank/provider | Neo Financial | American Express |
| Frais d'adhésion | Zero | Zero |
| Frais de renouvellement | C$125 | C$119.88/year |
| Best for | Families spending C$500+ monthly on groceries and recurring bills who want maximum cashback without dealing with points programs | Grocery, Gas & Everyday Cashback |
| Taux de récompense |
| 4% on Groceries, 4% on gas, 2% on all other eligible purchases |
| Cashback |
| Up to 4% |
| Accès aux salons |
| No |
| Exonération de surcharge carburant | No but Fuel Cashback- 3% on Gas & EV Charging (up to C$1,000/month) | No |
| Avantage de bienvenue |
| Up to C$250 bonus value (offer may change) |
| Exonération des frais annuels | No | No |
| Éligibilité |
|
|
| Apply link | Envoyer | Envoyer |