Get a free, no obligation personal loan quote with rates as low as 6.99%
Get Started You can apply with no effect to your credit score

If you’re looking for a credit card that has no monthly or annual fee and lets you earn cashback, we have a recommendation for you. The Neo Credit card

This credit card is customizable with flexible monthly subscriptions that you can add and stack to create a card personalized to your needs. 

What We Think 

Who is Neo Credit Good For?Consumers who:
– Are looking for a cashback rewards card for everyday spending
– Want to avoid annual credit card fees
– Only want to pay for perks they need
– Have less-than-perfect credit
What We Like– No monthly fee (for basic account)
– Welcome bonuses
– Earn high cashback on purchases
– Earn extra cashback and get additional perks (for a monthly fee)
– Cashback is instant and unlimited
– No minimums required for cashback redemption
What We Don’t Like– Unlimited cashback is limited to Neo partners
– No travel insurance without additional charge

What Is Neo Credit?

Neo Credit is an everyday credit card that can be used to earn cashback and exclusive offers at places you love. It has no annual fee unless you upgrade your account. You’ll earn 1% cashback on all gas and groceries and 0.5% guaranteed monthly minimum cashback with partners. You’ll also earn an average of 5% cashback with Neo partners and up to 15% cashback on first-time purchases with partners. 

Upgrade Your Neo Credit To Premium

Users can upgrade their Neo Credit cards to premium for only $4.99 a month. With Premium, you’ll earn 3% cashback on all gas and groceries and 0.5% cashback on all other purchases. 

Welcome Offer

Neo is offering new customers the opportunity to try Premium free for 3 months. Apply for a Neo Credit card, upgrade to Premium, and get your first 3 months free.

Neo Credit Card Overview

Base PlanPremium Plan
Annual Fee$0 $4.99 a month
(Free the first 3 months if you apply today)
Purchase Rate19.99% – 29.99%
19.99% – 24.99% (QC residents)
19.99% – 29.99%
19.99% – 24.99% (QC residents)
Cash Advance Rate22.99% – 31.99%
22.99% – 25.99% (QC residents)
22.99% – 31.99%
22.99% – 25.99% (QC residents)
Rewards– 1% on gas and groceries.
– 0.5% monthly minimum cashback with Neo partners.
– 5% on average at Neo-partnered restaurants, bars, and cafes.
– 3% on Netflix, Disney+, Crave, Apple, Spotify, Uber, Lyft, UberEats, DoorDash, and Skip the Dishes.
– 2%+ at Neo retail partners (online and in-store).
– 3% on gas and groceries.
– 0.5% cashback on all purchases.
– 6% on average at Neo-partnered restaurants, bars, and cafes.
– 4% on Netflix, Disney+, Crave, Apple, Spotify, Uber, Lyft, UberEats, DoorDash, and Skip the Dishes.
– 3%+ at Neo retail partners (online and in-store).
Welcome BonusGet up to 15% cashback on first time purchases with partners– Get up to 15% cashback on first time purchases with partners.
– Get the first 3 months for free when you apply. 
App AvailabilityApp Store
Google Play
App Store
Google Play

Neo Credit Card Features

The Neo Credit card offers cardholders a variety of benefits and features, particularly for those who shop regularly with Neo partners. These include:

Add Neo Credit Perks

Neo Credit holders can customize their cards by adding perks. These Neo perks are stackable and reward you for spending by boosting cashback offers for different categories. Neo perks are flexible and come with no commitment. You can easily add a perk to your card via the Neo app and cancel it at any time.

Available Perks

  • Travel Perks: $4.99 a month.
  • Mind & Body Perks: $9.99 a month.
  • Food & Drink Perks: $1.99 a month.
  • Mobile & Personal Protection Perks: $9.99 a month.

No Monthly or Annual Fees

Neo Credit has no monthly or annual fees. The only time you’ll need to pay a fee is if you upgrade to Premium or add a Neo perk. The perks offer higher cashback rewards and other benefits like travel insurance and purchase assurance.

Neo Credit App

Neo Credit comes with an app that allows you to manage your card right from your fingertips. You can browse rewards and store offers through the app, prior to making any purchases.

You can also get notifications in real-time about your transactions when you earn cashback, or when you need to make a payment. The app allows you to see your rewards and spending details, which is great for keeping track of your money.

Upgrade At Any Time

Regular credit cards often lock you in with annual fees. But with the Neo Credit card, you can upgrade to a different plan whenever you want and cancel whenever you like.

Higher Credit Limit

Neo Credit may automatically pre-approve you for a credit limit increase when you become eligible. So instead of you having to apply for the increase, you simply need to log into your account and accept the credit limit increase, if you’ve been pre-approved. 

neo secured card banner

Neo Partners: Stores You Can Shop With Neo Credit

To earn the highest cashback rates with Neo Credit, you’ll want to shop with Neo-partnered stores. Currently, over 10,000 stores are partnered with Neo, including: 

  • Frank and Oak
  • Herschel
  • SAXX
  • clearly
  • AVIS
  • Contiki
  • Budget
  • Second Cup
  • Structube
  • Pet Plant
  • TIMEX

Who Is Eligible For The Neo Credit Card?

To apply for the Neo Credit card, you must be a resident of Canada and be at least the age of majority within your province or territory. You must also have a Canadian photo ID to apply for the card.

While no credit requirements are noted, you may be rejected for Neo Credit if your credit history is poor. In such cases, Neo recommends that you use their Neo Secured Credit card, which guarantees approval.

How To Apply For A Neo Credit Card

Applying for a Neo Credit card is easy, simply follow these steps:

1. Download The App

Once you download the Neo app, create an account with your email. You’ll need to verify your account using both your email and phone number. Once verified, you’ll reach the welcome page where you can choose to apply for the Neo Credit card.

2. Build Your Card

On the welcome page, click on the Neo Credit card button to get the application started. You’ll then be asked a few questions to customize your card.

  • Choose A Rewards Program: You’ll have the option to choose the regular Neo Credit card or the Neo Hudson Bay card.
  • Choose A Credit Type: Do you want a regular or secured credit card? Neo offers both types.

3. Fill Out The Application

Once you’ve chosen the type of card you want, you’ll need approximately 5 minutes to complete the final part of the application. This part of the process involves providing your basic personal information and financial information and verifying your identity. If approved, you can start using your digital card immediately via Apple Pay or Google Pay. The physical card is expected to arrive in approximately one week’s time.

Things To Consider Before Applying With Neo 

While Neo Credit comes with a slew of benefits, there are a handful of downsides to consider as well before you apply: 

Basic Features

Most rewards credit cards come with some sort of travel insurance package. But with the Neo Credit card, you’ll need to add a Neo perk and pay an extra monthly fee for this type of coverage. That said, this could also be seen as a benefit. You can add the Neo Travel perk for the months you need it, and only pay for the months required. 

Higher Cashback Earn Rates Limited To Neo Partners

While you can earn cashback rewards on everyday spending, the higher earn rates are reserved only for specific Neo retailer partners. This may be a good thing for consumers who shop at these merchants, but not so great for those who don’t.

Extra Costs

There’s no annual or monthly fees for the Neo Credit card. But if you upgrade to Premium or add several Neo perks to your account, the additional charges can add up.

Is The Neo Credit Card Safe?

In this increasingly digital age, it is important for a company to have modern protections in place that can keep you, your identity, and your finances secure against fraud. All savings accounts are held through Concentra Bank, a member of CDIC

  • Zero Liability Protection: This means that your deposits are protected against loss. The concept is that the cardholder isn’t held liable (or responsible) for any unauthorized charges made on their account. In the event of an unauthorized purchase on your file, as proven by an investigation, the amount is returned to you with no penalty.  
  • Lock your card: Another security feature of Neo Credit is the ability to freeze and unfreeze your card, right from the app You can either put a hold on it (in the event that you misplace it) or replace it altogether. All of these security features can be accessed from within the Neo application, improving efficiency and security. 

What Do Consumers Think Of Neo?

How do consumers rank Neo on popular review sites like BBB, Google, and Trustpilot?

BBB Accredited + Rating1.38/5 stars C Rating, Not Accredited
Google Rating4.8 stars
Trustpilot Rating1.8 stars
Social Media Presence61K followers on LinkedIn
23.9K followers on Instagram
4K followers on Facebook
~2K followers on Twitter
Physical Location (office)None

How Does Neo Compare To KOHO (Easy)? 

Let’s take a look at how Neo Credit compares to another popular product, the KOHO Easy Account:

Neo Credit (Base Plan)KOHO (Easy Account)
Annual Fee$0 $0
Interest rate– 19.99% – 29.99%
– 19.99% – 24.99% (QC residents)
N/A
Earn rate– 1% cashback on gas and groceries
– Average 5% cashback at over 10,000 Neo partners
– 0.5% guaranteed monthly cashback minimum with Neo partners
– 1% cashback on groceries & transportation.
Extra perks– Add and stack flexible monthly subscriptions for extra cashback and features (for an added charge.)
– No minimums required for cashback redemption
– Earn 0.5% savings interest on your entire balance.
– Credit Building program (at an extra charge)
– Encourage saving with RoundUps, Vaults, and Savings Goals features

Is Neo Credit A Good Choice For You? 

With an increasing number of credit cards hitting the market, it is important to assess which one is the best fit for your needs. The main selling feature behind Neo Credit is the fact that all of its features are integrated. It is designed to make your rewards automatically accessible, so you can actually reap the benefits of the credit card and all of its perks.

Final Thoughts

There are countless benefits to using Neo Credit, regardless of where you reside in Canada. It is designed to make rewards accessible, encourage commerce, and help you build credit. While those who live in areas with affiliated businesses can definitely see the most benefits, when used properly, anyone can see advantages from this card. 

Neo Credit FAQs

Is the Neo Credit card safe?

Yes, the Neo credit card is safe. In fact, the Neo app allows users to freeze and unfreeze their accounts directly in the app if they believe their card is stolen or tampered with.

Can I add the Neo Credit card to my digital wallet?

Yes, you not only get a physical copy of your Neo Credit card, but you can also digitize it by adding it to Apple Pay or Google Pay. This will allow you to make purchases without contact through your smartphone.

Does Neo accept bad credit applicants?

While many credit cards restrict access to those with good credit or higher, Neo may accept applications from those without credit or with poor credit.
Corrina Murdoch avatar on Loans Canada
Corrina Murdoch

Corrina Murdoch has been a dedicated freelance writer and editor for several years. With an academic background in the sciences and a penchant for mathematics, she seeks to provide readers with accurate, reliable information on important topics. Working as a print journalist for several years, Corrina expanded her reach into the digital sphere to help more people gain insight into the realm of finances. When she's not writing, you can find Corrina swimming and spending time with family.

More From This Author

Special Offers

More From Our Experts

https://loanscanada.ca/wp-content/uploads/2023/09/GlobeMailTopCompanies2023-1.png
Loans Canada places No. 228 on The Globe and Mail’s fifth-annual ranking of Canada’s Top Growing Companies.

By Caitlin Wood, BA
Published on September 29, 2023

Loans Canada is excited to announce it has made it onto the Globe and Mail’s Top Growing Companies list for the second year in a row.

https://loanscanada.ca/wp-content/uploads/2023/09/Finder-Awards.png
Finder Awards Finalists: Personal Loans Customer Satisfaction Awards 2023

By Priyanka Correia, BComm

Loans Canada is happy to announce it received the finalist award in the Best Personal Loan Search Platform category.

https://loanscanada.ca/wp-content/uploads/2016/12/caution-1.jpg
Beware of Fraudulent Lenders Impersonating Loans Canada

By Caitlin Wood, BA

A note to our clients about fraudulent lending practices and illegal upfront fees.

https://loanscanada.ca/wp-content/uploads/2021/05/HR-Block-Review.png
H&R Block Review

By Lisa Rennie

Filing taxes can be complicated. Thankfully, tax software like H&R Block exists. Check out our review on H&R Block tax software.

https://loanscanada.ca/wp-content/uploads/2024/02/Fixed-vs-Variable-mortgage-trends-2024.png
Fixed vs. Variable Rate In 2024 | Which Should You Choose?

By Lisa Rennie

Check out the mortgage interest rate trends for 2024. Find out whether you should opt for a fixed or variable rate mortgage in 2024.

https://loanscanada.ca/wp-content/uploads/2021/06/Newfoundland-And-Labrador-Child-Benefit.png
Do You Qualify For The Newfoundland And Labrador Child Benefit (NLCB)?

By Corrina Murdoch

Find out if you qualify for extra cash under the Newfoundland and Labrador Child Benefit (NLCB).

https://loanscanada.ca/wp-content/uploads/2024/02/Alpine-Supply-Shortage.png
Why Lower Interest Rates Won’t Solve The Housing Crisis: Root Cause Is Supply Shortage

By Maidina Kadeer, BA

Find out why BOC's Governor Tiff Macklem says supply shortage is the root cause of Canada's housing affordability crisis.

https://loanscanada.ca/wp-content/uploads/2024/02/Average-house-price-in-BC.png
What Is The Average House Price In BC 2024?

By Lisa Rennie

Home prices vary a great deal across Canada. Check out the average house price in BC and how it compares to the rest of Canada.

Recognized As One Of Canada's Top Growing Companies

Loans Canada, the country's original loan comparison platform, is proud to be recognized as one of Canada's fastest growing companies by The Globe and Mail!

Read More

Why choose Loans Canada?

Apply Once &
Get Multiple Offers
Save Time
And Money
Get Your Free
Credit Score
Free
Service
Expert Tips
And Advice
Exclusive
Offers

Build Credit For Just $10/Month

With KOHO's prepaid card you can build a better credit score for just $10/month.

Koho Prepaid Credit Card