Neo Financial has disrupted the Canadian credit card market with its unique cashback rewards program. The Neo Credit Card promises enticing returns and flexibility, but is it the right choice for you?
Generous Cashback: The card’s flagship feature is its cashback program. Earn an average of 5% cashback at thousands of Neo partner retailers across Canada. While the base rate is lower at non-partner stores, you still earn a respectable return.
Flexible Rewards: Neo’s cashback is credited directly to your statement as a balance reduction, providing immediate value. You can also redeem for travel through their partner program.
Welcome Offers: New cardholders often enjoy elevated cashback rates (up to 15% or more) at select partner stores during an initial period. These generous offers can provide a significant boost to your rewards.
Partner Perks: In addition to cashback, Neo partners frequently offer cardholder-exclusive deals, discounts, and experiences.
Your Neo Credit Card comes with a credit limit, which is the maximum amount you can spend. This limit depends on factors like your credit score, income, and debt. You can find this information on your monthly statement or online. The terms and conditions of your card, including details about your credit limit, interest rates, and fees, are outlined in your Neo Credit Card agreement. Make sure to read and understand this document before using your card.
Once you’re approved, your card will be mailed to you and should arrive within 7-10 business days. To activate it, call the number on the sticker or log into your account online. You’ll need your card number, expiry date, and the CVV code. After activation, set up a PIN for ATM withdrawals and purchases by calling the same number or logging into your account.