Wednesday, January 12, 2022

Neo MasterCard Introduction

Updated on Jan 12, 2021: After your apply a Neo MasterCard, you can also open a new Neo Savings Account in the Neo app with just a few clicks. There is no monthly fees or minimum balances, with unlimited free transactions. Its interest rate is 1.3% now. You can use this account to pay bills, make deposits, send and receive Interac e-Transfers. You can also add your other bank accounts to Neo to easily withdraw and deposit money. The Neo Savings account is provided by Concentra, a CDIC member institution, and is eligible for CDIC deposit protection. Deposits held in Neo Savings accounts are combined with eligible deposits held at Concentra Bank, for up to $100,000 of deposit protection, per category, per depositor.

Updated on Jan 3, 2022: If you want to sign up a new Neo MasterCard through a referral link and you can earn $25 $50 bonus. If you need a referral link, please use ours: thanks.

Neo MasterCard is released by Neo Financial (based in Calgary) with following features:
  • No annual fee. 
  • You can automatically get rewarded (up to 30% cashback) when you pay with Neo at hundreds of merchants. Discover exclusive offers from your favorite national and local brands when you grab a bite to eat, shop for groceries, hit the gym and more. Rewards only get better over time, the more you use Neo.
  • Along with a physical card, you’ll have the option to pay with your virtual Neo Card right after you’re approved. Plus, get real-time notifications on every purchase and after each reward you earn.
  • Watch your credit climb with new ways to qualify, even if you’ve never had a credit score or are starting from scratch. It’s easy to do. Set up automated payments to your Neo Card from your Neo Savings account to build credit. And when you're eligible, they will increase your credit limit. 

You can download the Neo app on your smartphone and apply the MasterCard in the app. It is a MasterCard with credit limit and you need to upload photo of a government ID and your selfie photo during application in addition to the normal personal information required for credit card application. You can automatically get rewarded (up to 20% cashback) when you pay with Neo at hundreds of merchants. 

Neo Financial now has a referral program. If you sign up a new Neo MasterCard through a referral link and you can earn $50 bonus. If you need a referral link, please use ours: thanks.

Updated on Jul 25, 2021: Neo Financial just updated its rewards plan. Now for all three rewards plans, you can earn min 1% cashback across all spend. And for its Plus / Ultra plans, Neo Financial decreased the monthly fee from $4.99 / $9.99 to $2.99 / $8.99. Based on your unique spending, Neo Financial will recommend a plan that suits you in your profile. Plus, you can switch your plan every month so you’re never locked in to an annual fee. From my point of view, theses changes are really good and make the Neo MasterCard more attractive.

Updated on Nov 5, 2021: When you apply a new Neo MasterCard, you can earn ~15% cashback on your first purchase at most Neo partners. 

BTW, If anyone wants to leave his/her Neo MasterCard referral link below, please use the following format ONLY: "My Neo MasterCard referral link is: ******* " Other format will be deleted. Thanks. Note: because it contains link, we need to approve referral comments one by one. So, please be patient...