The best cashback credit card in Canada1

1 As awarded by Made in CA on October 25, 2024.

2 Cashback earn subject to monthly spend limit. When monthly spend limit is reached, subsequent spending earns 1% with the Neo World Elite® Mastercard. Spend limit resets monthly. For more information, visit the Neo app.

3 This insurance coverage is underwritten by Chubb Insurance Company of Canada under a Group Policy issued to Neo Financial Technologies Inc. All coverage is subject to the terms, conditions, limitations and exclusions outlined in each Certificate of Insurance, and for Quebec residents, each Product Summary. Travel insurances unavailable for Quebec residents. The cost will be charged to the eligible Neo card that you signed up for the Neo Perks with. Neo, its employees and representatives are not agents of Chubb, nor can they waive or change any terms of the insurance coverage. View the full list of insurance certificates here: https://www.neofinancial.com/legal/plans

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

Certain terms, conditions and exclusions apply. Contact your issuing financial institution for complete coverage terms and conditions.

Recurring payments are payments made on a monthly or other regular basis automatically billed by the merchant to your credit card. Cashback earn on recurring payments subject to $500 monthly spend limit. When monthly spend limit is reached, earn rate for recurring payments decreases to 1%. Spend limit resets monthly. Cashback not applicable to payments not considered recurring payments or to all merchants. Please check with your merchant for eligibility. Any refunds, rebates or similar credits will reduce or cancel the cashback earned on the original recurring payment. For more information, visit the Neo app.

The Neo World Elite® Mastercard is issued by Neo Financial™ pursuant to license by Mastercard International Incorporated.

Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.

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Additional card benefits

Extended Warranty & Purchase Protection4

Canada's fastest growing company

awarded by the Globe and Mail, September 2024

4.8 ★★★★★ on App Store 

10,000+ cashback partners coast to coast

4.7 ★★★★★ on Google Play 

Extends manufacturer’s warranty and provides protection for damaged or stolen items.

Auto Rental Collision Loss Damage4

Comprehensive Travel Insurance & Emergency Medical4

Coverage for damages or theft in rental vehicles, providing additional financial protection for renters.

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Maximize your cashback with the Neo World Elite® Mastercard

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Frequently Asked Questions

How do I know if I am eligible for the Neo World Elite® Mastercard?

Eligibility for this card requires a minimum annual income of personal: $80,000; or household: $150,000.

What is the credit limit?

The credit limit is up to $30,000 on approval. For a Secured Neo World Elite® Mastercard, a minimum deposit of $200 is required, with a maximum credit limit of $10,000.

Do I have to pay fees?

There is an annual fee of $125 for the Neo World Elite® Mastercard.

What cashback do I earn with the Neo World Elite® Mastercard?

The base category cashback rates are 5% on groceries, 3% on gas, 4% on recurring payments, and 1% on everything else. With a Neo Everyday account balance, you can boost your rates even higher—earn up to 7% on groceries, 5% on recurring payments and 4% on gas. See “Boost Level” details in the Neo app for more information.

How can I redeem my cashback rewards?

Your rewards accumulate in your rewards wallet in the Neo app and can be accessed as soon as your transaction is posted. You can cash out or “redeem” this cashback in a few ways. You can reduce the balance in your credit account, add the cashback directly to your Neo Everyday account, or redeem it for merchandise in the Neo Store.

How do I track my cashback rewards?

You can track your cashback rewards in your rewards wallet. Open the Neo app and simply tap the rewards icon (stars) in the top left corner to go to your wallet.

If I already have a Neo Mastercard®, can I still get a Neo World Elite® Mastercard?

Yes – you can enjoy all the additional benefits of the Neo World Elite® Mastercard by applying for this card directly in the Neo app. You may also be eligible to upgrade your Neo Mastercard for the Neo World Elite® Mastercard—log into your Neo account so see if you’re eligible.

EN / FR

The best cashback credit card in Canada1

Earn 5% cashback on groceries2

Out of province or country emergency medical, delayed and lost baggage, flight delay, trip cancellation/interruption, and more!

Mastercard Zero Liability5

Protection from unauthorized transactions and real-time security alerts to keep your account safe.

Can I get a supplemental card for the Neo World Elite® Mastercard?

Currently, the Neo World Elite® Mastercard does not offer supplemental cards. It is something we are working on!

What’s the purchase rate and APR?

The Purchase Credit Rate on the Neo World Elite® Mastercard is 19.99% - 31.99%. In Newfoundland and Quebec, the Purchase Credit Rate on the Neo World Elite® Mastercard is 19.99% - 23.99%. 

The standard rate on purchases and cash advances is dependent on our assessment of your credit application, credit profile, and your province. See your Cardholder Agreement and Disclosure Statement at time of application for your specific rate.

What are the monthly spend caps in each category?

The monthly spend caps vary based on the card you choose. For more information, visit https://get.neofinancial.com/rates-table/.

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Check to see if you're eligible. Learn more

Comprehensive travel insurances4

Unlimited, instant cashback2

Elite-level cashback rates

5%

cashback on groceries²

4%

cashback on recurring payments

3%

cashback on gas & EV charging²

1%

cashback on everything else²

Starting at

Starting at

Starting at

Starting at

NEO WORLD ELITE MASTERCARD®

Unlock exclusive offers like up to 15% cashback at partners nationwide.³

Earn even more

Maximize your cashback with the Neo World Elite® Mastercard