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Mr. Loonie
Neo Mastercard®

Neo Mastercard®

8.1
Very good
Expert Score · 10 reviews How we score

Best for: People who shop at Neo partners and want cash back with no annual fee

Your spending a month
What’s in each?
Light:
Groceries $400, restaurants $100, gas $100, recurring bills $100, everything else (base rate) $250, foreign currency $50
Typical:
Groceries $800, restaurants $250, gas $250, recurring bills $250, travel $150, everything else (base rate) $650, foreign currency $150
Big:
Groceries $1,200, restaurants $500, gas $400, recurring bills $400, travel $500, everything else (base rate) $1,600, foreign currency $400
Yours:
Your own amounts, saved on this device only
Every year
$72

Ranked #130 of 176 for year one. See the list

See how we worked it out
Annual fee
None
Apply now on Neo’s site (opens in a new tab)
We may get paid if you apply through this link. It never changes our score.

Have this card?

Details from Neo’s site. Banks can update terms at any time, so give them a quick look before you apply. Source

What you’d earn Can I get it? Fees Similar cards
From the numbers

The good and the bad

Stands out

  • Good: 1% back on groceries and gas
  • Good: No annual fee It costs nothing to keep.

Watch for

  • Watch for: 3% on foreign purchases Use a no foreign fee card when you travel.

Worked out from the card’s rates and fees.

Show your work

What you’d earn

With typical spending of $2,500 a month.

  • Groceries $96
    1% back $800 a month · $96 a year
  • Restaurants $0
    No rate recorded $250 a month · $0 a year
  • Gas $30
    1% back $250 a month · $30 a year
  • Recurring bills $0
    No rate recorded $250 a month · $0 a year
  • Travel $0
    No rate recorded $150 a month · $0 a year
  • Everything else $0
    No rate recorded $650 a month · $0 a year
  • Foreign currency $0
    No rate recorded $150 a month · $0 a year
For you Year one Later years
Cash back you earn $126 $126
Annual fee $0 $0
Foreign currency fee3% on $1,800 a year −$54 −$54
Total $72 $72

Rows are rounded to the dollar.

What counts in each category
Groceries
1% back 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.
Gas
1% back 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.

These are example budgets to compare cards side by side, not averages. Your own spending will give a different number.

Before you apply

Can I get it?

  • Age 18 or older 19 or older in BC, NB, NL, NS and the territories
  • Where you live Canada
  • Credit score No minimum on record Most banks don’t publish one, and we don’t guess.

Checked on Nov 8, 2026. Source

Mr. Loonie’s tip Each application shows up on your credit file. Leave a few months between card applications.

What critics say

Other reviewers on this card

8.1
Very good
Expert Score How we score
  • Frugal Flyer (opens in a new tab) Nov 2025

    “The Neo Credit Card is an interesting new financial product, one that is unlike any other in Canada in terms of its reward structure. Neo emphasizes brand loyalty and local partnerships. This is great for small businesses, but for us in the miles & points game, all that matters is the value we can extract from being a cardholder. On that front, it’s difficult to determine where Neo belongs in my wallet.”

  • Forbes (opens in a new tab) Jan 2024

    “This secured credit card is not only a great way to build credit and one of the best Neo credit cards on the market, it’s accessible, has no annual fee—and offers cash-back rewards to rival conventional cards.”

  • Money.ca (opens in a new tab) Aug 2023
    9

    “The Neo Credit is the most rewarding cashback credit card currently available on the Canadian market. If you’re looking for a rewarding cash-back card for everyday spending, Neo Financial is your best option. The card is especially rewarding if you frequent local restaurants and cafes that are most likely to be Neo partners and offer bonus cash back for first-time or repeated visits.”

  • Hardbacon (opens in a new tab) Apr 2023

    “While there are several secured cards on the Canadian market, Neo’s Secured Card is one of a kind. With no annual fees, great perks and a low barrier to entry, it can be a good fit for most consumers in Canada. If you are struggling with your credit score or simply don’t want to deal with going through a hard credit check, then this card might be a good fit for you.”

  • Wealth Rocket (opens in a new tab) Apr 2023
    9

    “While Neo makes applying for a credit card easy, it is meant to help all Canadians alike to take control of their financials. Gone are the days when large banks had the last word. Neo Financial allows all its cardholders to be flexible with their accounts, allowing them to take responsibility for their gains. With no annual fees and high-interest gains, the benefits will start to accumulate funds in no time. Anyone banking with Neo will understand how the company is doing the job of disrupting the archaic financial system that has been established in Canada for too many years.”

  • Yore Oyster (opens in a new tab) Jan 2023

    “The Neo Financial Mastercard is somewhat limited if you're looking for exclusive perks or travel benefits, but if you're looking for a simple credit card with a high cash back rate and no limits on how much you can earn every year, this is the card for you. You can check all the partner stores directly from the Neo app.”

What cardholders say

Ratings from people with this card

No ratings yet. If you have this card, tell others what it’s like.

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Insurance and perks

What comes with it

  • Mobile wallets Apple Pay, Google Pay
Fees and interest

What it costs

Annual fee
None
Purchase interest
19.99%
Cash advance interest
22.99%
Foreign currency fee
3%
All fees and rates

Fees

Extra cards
None
Cash advance fee
$2.50
Over-limit fee
$29
Late payment fee
None
Source
Issuer page

Read the card terms and conditions for the full terms.

Checked on Nov 8, 2026. Source

Before you decide

Similar cards for the same spending

With typical spending. This card: $72 year one, $72 every year after.

See all cards ranked for your spending

Some of these links pay us when you apply, at no extra cost to you. Most don’t, and pay never changes our score. How we make money

Common questions

Questions people ask

What is the annual fee on the Neo Mastercard®?

There is no annual fee.

Does it charge a foreign transaction fee?

Yes, 3% on purchases in other currencies.

What is the interest rate?

19.99% on purchases. Cash advances are 22.99%.

Rates, fees and offers come from the card issuers and change often. We work to keep this page accurate and current, but it may contain mistakes, so always check the issuer’s terms before you apply. This page is general information and isn’t financial advice.

Spot something wrong? We’ll check it with the bank. Suggest a correction

Card names, logos and trademarks belong to their owners. No issuer wrote, paid for or approved what we say about this card. Our scores and opinions are our own.

Mr. Loonie is independent and supported by affiliate links. We may earn a commission when you apply through some links, at no cost to you. How we make money

$72
a year for you
Apply now on Neo’s site (opens in a new tab)
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