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Mr. Loonie
Neo World Elite® Mastercard

Neo World Elite® Mastercard

7.4
Good
Expert Score · 2 reviews How we score

Best for: Big grocery spenders who want high cash back on groceries, bills and gas

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
$631

Ranked #61 of 176 for year one. See the list

See how we worked it out
Annual fee
$149 a year
Apply now on Neo’s site (opens in a new tab)
Needs $80,000 personal or $150,000 household income
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

Is it for me? What you’d earn Can I get it? Fees Similar cards
3 quick questions

Is it for me?

Do you spend $250 or more a month on groceries?

Is your personal income $80,000 or more, or your household’s $150,000 or more?

Do you pay your card off in full most months?

Answer the 3 questions to see if it fits.

From the numbers

The good and the bad

Stands out

  • Good: 5% back on groceries

Watch for

  • Watch for: $149 a year You need about $250 a month on groceries to earn it back.
  • 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 $480
    5% back $800 a month · $480 a year
  • Restaurants $30
    1% back $250 a month · $30 a year
  • Gas $90
    3% back $250 a month · $90 a year
  • Recurring bills $120
    4% back $250 a month · $120 a year
  • Travel $18
    1% back $150 a month · $18 a year
  • Everything else $78
    1% back $650 a month · $78 a year
  • Foreign currency $18
    1% back $150 a month · $18 a year
For you Year one Later years
Cash back you earn $834 $834
Annual fee −$149 −$149
Foreign currency fee3% on $1,800 a year −$54 −$54
Total $631 $631

Rows are rounded to the dollar.

What counts in each category
Groceries
5% back Capped at $1,000 spend per month
Gas
3% back Including EV charging ; Capped at $1,000 spend per month
Recurring bills
4% back On recurring payments ; Capped at $500 spend per month
Everything else (base rate)
1% back

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
  • Personal income $80,000 or more Issuer says
  • Household income $150,000 or more Issuer says
  • 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

7.4
Good
Expert Score How we score
  • Money.ca (opens in a new tab) Mar 2026
    7

    “The Neo World Elite Mastercard is a bit of an oddball in the Canadian credit card market. It offers the potential for impressive cash back rates, but only if you’re willing to go all-in on the Neo ecosystem. For tech-savvy, high-earning Canadians who don’t mind managing multiple accounts and keeping a chunk of change in a Neo savings account, this card could be a cash back powerhouse. The flexible redemption options and instant rewards are definitely appealing. However, for the average Canadian consumer, the high fees, complex tiered system, and limited insurance perks might be more hassle than they’re worth. There are simpler, more straightforward cash back options out there that don’t require as much financial juggling.”

  • Rewards Canada (opens in a new tab) Dec 2024

    “All in all, Neo has made a winner here and we here at RWRDS Canada are keeping our fingers crossed they keep it that way by not being as dynamic in changing this card as they have been with their first credit card products. As much as start ups and industry in general these days are all about adapting and changing things on the fly, I think this is one case where Neo and more so it's customers, would benefit from some extended stability.”

What cardholders say

Ratings from people with this card

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

Applied and weren’t approved?

Insurance and perks

What comes with it

  • Extended warranty Included
  • Purchase protection Included
  • Premium travel benefits and a membership for lounge access.
Coverage limits

We haven’t recorded the coverage limits for this card yet. Read Neo’s insurance certificate before you count on any coverage.

Not included

Not listed for this card: travel medical, trip cancellation, trip interruption, flight delay, lost baggage, car rental damage and mobile device.

Fees and interest

What it costs

Annual fee
$149 a year
Purchase interest
19.99%
Cash advance interest
22.99%
Foreign currency fee
3%
All fees and rates

Fees

Extra cards
$49
Cash advance fee
$2.50, For cash advance in Canada ; $5.00 for cash advance outside Canada
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: $631 year one, $631 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 World Elite® Mastercard?

$149 a year. Each extra card costs $49.

What income do I need?

Neo asks for $80,000 in personal income.

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%.

Does it include insurance?

It lists extended warranty and purchase protection. Read the insurance certificate for the limits.

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

$631
a year for you
Apply now on Neo’s site (opens in a new tab)
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