Neo Financial Secured Card

9/10

Interest Rate

24.99%

Annual Fee

$0

Balance Transfer

N/A

Card Type

Secured, No-Fee, Cashback

Earn 15% on your first purchase at most Neo partners, 1% on all other purchases

Neo financial institution makes banking as easy, stress-free and streamlined as possible. The co-founders of the SkipTheDishes empire established it. Work ethics in SkipTheDishes that have made life convenient for people over the years have been transferred to this institution.

Card rewards

For an institution established recently, neo financial has grown to become one of the most sought after in the country. This is because it offers excellent reward programs to customers. This company provides a three-tier incentive program, which includes:

  • Neo essential: This is the most common because it is free. You can make an average of 4% in cash back when you buy goods at participating outlets. You can cash out at least 1% after every purchase.
  • Neo ultra: this tier provides an average of 6% cashback at partner shops. Also, you can cash back at least 1% after every purchase in other stores; you must not spend more than $5,000 per month. This tier costs $8.99 per month.
  • Neo plus: You get an average of 5% cashback at involved stores. You can cash back at least 1% after every purchase; non-partners must not spend more than $5,000 per month. Neo plus is valued at 2.99 dollars per month.

Benefits of cards

Neo financial credit card provides the following benefit:

  • Cashback rewards: customers make money when they buy goods at several outlets, such as local stores, online retail stores, gas stations, restaurants and others. With this card, you can make an average of over 5% unlimited cash back at different local and national partner stores. The cashback earned can be redeemed immediately and can be withdrawn anytime. Neo cards also give users a one-time bonus cashback offer of at least 20%
  • High-interest rate on savings: This institution provides one of the most lucrative interest rates in the industry. Compared to other traditional financial institutions such as TD and RBC, which give 0.01% – 0.05% interest, Neo financial is miles ahead. You can get 1.3% interest evaluated every day (on your end balance) and paid per month with this company.
  • No monthly fees: Users don’t have to worry about monthly payments.
  • Cards possess features that can be used as a cheque and savings account: this benefit puts the institution ahead because most traditional savings accounts allow limited transactions. You can use your Neo money account as a cheque and savings account. You can pay bills, purchase goods and send/receive e-transfers without extra charges.
  • No annual fee: There is no yearly fee for users on this platform.
  • Mobile app: You can get the Neo Financial app on i0S and Android phones. The institution provides access to a great dashboard that allows easy management of finances. This app can be used to pay bills, check the cashback offers, and make POS transactions on google and apple pay. It can also be used to disable your card if you lose it.
  • $25 promotional offer: New users are given a $25 voucher after confirmation for a particular period.
  • Operates virtually: This company is virtual, and you don’t need to go to the bank to make any transactions. You can do everything from the comfort of your home via the app or by reaching out to their customer service.
  • Discounts: the discount given depends on the business involved. Neo partners with different companies in your area; this enables the provision of fantastic incentives to improve your community’s economy. These offers include:

E-commerce

About 15%

Gas

About 5%

grocery

10%

cafes

20%

restaurants

15%

fitness

20%

shopping

15%

entertainment

15%

  • Savings: This company understands the relevance of savings. As a result, users can open a savings account and get high interest on their cash.
  • No minimum balance: With the most popular savings accounts, you must have a certain amount of money to open the account and get interested or escape fees. However, the Neo savings account allows users to access these offers with no minimum balance.

Details and eligibility

Anyone can get a Neo financial card, but you must:

  • Meet the age of majority in your country
  • Stay in Canada

If you meet these criteria, then you can use provided secure links to go to Neo’s website. Many Canadians prefer this company because it offers great rewards. You can access all your tips, card information and spending data with just one click. Three forms exist for Neo Mastercard; Standard, Plus and Ultra. The average cashback differentiates these cards in participating stores.

Neo credit card enhances partnership and strengthens local provinces and businesses. Business owners can learn more about this company through the app.

Insurance coverage

With Neo financial institution, your money is held by Concentra bank and has deposit insurance protection of $100,000 for every category and depositor. This bank is a Canada deposit insurance corporation (CDIC) member. You will enjoy this premium zero liability protection using Neo Cashback Rewards Mastercard.

Credit card FAQ

This account provides a high-interest rate of 1.30%. The interest is evaluated every day on your end balance and can be withdrawn per month.

Any cash you send into your account is insured. The federal government controls the money inside an account protected by Concentra bank.

You can click on the password reminder button beneath the password entry field. You may choose to get the reminder through e-mail or SMS. Your new passwords must:

  • Be 12 characters
  • Contain uppercase and lowercase letters, figures and special characters.
  • Be unique and not been previously used.

The bank of Lithuania supervises the operations of this company.

It is allowed. However, it would be best if you did not have an active investment in the user credits.

9 Total Score
Neo Financial Secured Card Review

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