Brim Financial vs. Neo Financial

Credit cards offer a lot more than just an easy and convenient way to make purchases without having to carry cash around with you. 

They also allow you to earn rewards when you use your cards for purchases. Credit cards also offer other benefits, such as travel insurance, complimentary access to VIP airport lounges and free Wi-Fi in many cases. 

Today, you have your pick of the litter when it comes to credit cards. And the newest offerings come from Neo Financial and Brim Financial. 

Let’s take a closer look at each credit card issuer to help you make a more informed decision about what type of credit card to take out. 

Brim Financial Credit Card vs. Neo Mastercard

How do you differentiate between Neo Mastercard® and the Brim Financial Credit Card? Both are very new and offer a unique spin on credit cards, but how are they different?

Neo Mastercard

Neo Financial’s aim is to make rewards credit cards more accessible to those who may not have the robust income needed for some of the more comprehensive rewards credit cards. Neo also makes it easy for consumers to take advantage of cash back perks when they shop at their favourite merchants.

Neo Mastercard

With the no-annual-fee Neo Mastercard, you can earn up to 15% boosted cashback at thousands of Neo partners across Canada. Plus, get guaranteed* instant approval and immediate access to a virtual card. Plus, you could qualify for a credit limit increase in as little as 3 months*.

Neo Mastercard Benefits

• No annual fees
• Quick and easy application process
• Less stringent qualification requirements
• Opportunity to grow your credit

Brim Financial

Brim Financial offers two unique Mastercards that come with a wide variety of perks and benefits which help them stand out from most other credit cards on the market.

Brim invites consumers into an exclusive world where you can take advantage of rewards and travel benefits all from one credit card.

Brim Mastercard

Brim Financial offers a new spin on Mastercards that offer flexibility, rewards with every purchase you make, and a long list of insurance products that are so comprehensive that you won’t need to take out other policies in many circumstances. 

The basic-level Mastercard from Brim Financial allows cardholders to earn unlimited rewards without having to pay any annual fees. Users will earn 1 point for every $2 dollars spent on all purchases.

You can take advantage of Brim’s Installment Pay option when you spend at least $500 on a purchase. You’ll have a choice of how long you’d like to have to repay the loan, up to 24 months.

The Brim Mastercard also offers 5 types of insurance, including an extended warranty, purchase protection, mobile device insurance, event ticket cancellation, and travel accident coverage.

Brim World Elite Mastercard

Brim’s premium credit card offering is the Brim World Elite Mastercard which comes with all the bells and whistles of the Brim Mastercard, plus other perks. 

With this card, you’ll earn 1 point for each dollar spent. The insurance package is more comprehensive than the Brim Mastercard and includes additional features, including emergency medical, trip delay coverage, rental car insurance and trip cancellation insurance.

There’s a $89 annual fee that comes with the Brim World Elite Mastercard, and you’ll need a minimum income of $80,000 to be eligible for this card, or $150,000 for a household.  

Brim Financial Credit Card Benefits

• No annual fees on basic Brim Mastercard
• Free Boingo Wi-Fi
• Installment payment options 
• Mobile payments
• Redemption flexibility
• Comprehensive insurance offerings
• Tracking tools  

Brim Financial vs. Neo Financial Overview

Should You Get Neo Or Brim?

The choice between Neo Financial and Brim Financial credit cards is a tough one. That said, if you’re looking for a card that offers a comprehensive insurance plan – including mobile and travel insurance – then the Brim Mastercard is a keeper. 

Plus, you can earn cash back with every purchase you make, benefit from more insurance offerings with the more premium Mastercards, and can take advantage of the installment payment plan on larger purchases. 

On the other hand, if your credit score is lower than you would like it to be and you’re looking for an affordable credit card that can help you improve your credit score while earning cash back with purchases, then Neo Mastercard may be worth considering. 

Final Thoughts

Depending on where you’re at in your financial life, both the Brim and Neo credit cards offer unique benefits for you to take advantage of. Be sure to carefully consider your financial health, credit score, income, and how you plan to use your credit card prior to deciding which route to take between Neo and Brim Financial.

Neo Disclaimer

* _{Conditions apply. Must 1. be the age of majority in your province or territory of residence; 2. be a Canadian resident; 3. provide security funds; 4. be eligible for credit under Neo’s policies.}

_{Cashback earn subject to monthly spend limit. When monthly spend limit is reached, subsequent spending earns 0%. Spend limit resets monthly. For more information, visit the Neo app.}

_{Cashback may be limited and varies by perks, offer, and partner. See the Neo Rewards™ Policy for additional terms and conditions.}

_{For Quebec: Monthly statements; 21-day grace period; Minimum payment is the higher of $10 or 5% of total statement balance; Purchase rate is 19.99%-24.54% and cash advance rate is 22.99%-25.54%.}

_{The Neo Mastercard is issued by Neo Financial™ pursuant to license by Mastercard International Incorporated}.

_{Mastercard, World Mastercard, World Elite, and the circles design are registered trademarks of Mastercard International Incorporated.}