--> --> Neo Financial Secured Mastercard November 2025 | creditcardGenius --> --> -->   App Exclusive: $150 GeniusCash on a card with unreal cash back! Download Now × 5 Hello! Sign In $150 Cash Back Compare Credit Cards Compare Credit Cards Compare Credit Cards Find Your Credit Card Quick Compare Top Credit Card Deals No Fee First Year Free Credit Card Quiz By Type Rewards Low Interest Balance Transfer Business Student Prepaid By Rewards Cash Back Travel Air Miles Aeroplan Store Grocery Reviews American Express Cobalt: Award-Winning. Limit-Pushing. Unmatched. BMO Ascend World Elite: Travel Rewards Reach New High American Express Gold Rewards: Your Ticket to Luxury TD® Aeroplan® Visa Infinite: Your Best Card for Air Canada Perks MBNA Rewards World Elite: Canada's Best Kept Secret BMO AIR MILES®† Mastercard: Groceries today. Getaways tomorrow. GeniusCash credit cards = more cash in your pocket! 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Hard Credit Check How To Protect Your Credit Score Must Read Best Instant Approval Credit Cards ‒ From No Credit To Excellent Credit Credit Cards For Bad Credit Secured Credit Cards Tangerine Money Back Credit Card KOHO Prepaid Mastercard Review Credit Card Quiz Mastercard Neo Financial Neo Secured Credit 1.5 Genius Rating 2.2 (17) User reviews Neo Secured Credit offers guaranteed approval and is a rare secured credit card that offers rewards on purchases, all for no annual fee. $95.88 Annual fee Learn more $0 ◊ Welcome bonus Learn more $126 ◊ Annual rewards Learn more Find your top card | Read our disclosure creditcardGenius Disclosure creditcardGenius receives a referral fee for some credit cards listed; however, our comprehensive and math-based algorithm solely dictates the results of our rating system. Our ratings and rankings are strictly independent of compensation. Click to read our detailed disclosure. Apply Now Add to wallet Credit estimate:  (300 - 559) Instant approval: Yes Mastercard Neo Financial Neo Secured Credit 1.5 Genius Rating 2.2 (17) User reviews Apply Now Add to wallet Neo Secured Credit offers guaranteed approval and is a rare secured credit card that offers rewards on purchases, all for no annual fee. $95.88 Annual fee Learn more $0 ◊ Welcome bonus Learn more $126 ◊ Annual rewards Learn more Credit estimate:  (300 - 559) Instant approval: Yes Find your top card | Read our disclosure creditcardGenius Disclosure creditcardGenius receives a referral fee for some credit cards listed; however, our comprehensive and math-based algorithm solely dictates the results of our rating system. Our ratings and rankings are strictly independent of compensation. Click to read our detailed disclosure . Monthly Spending: $ View Breakdown Pros & Cons Your Rewards Compare Cards Details and Eligibility Insurance Coverage Genius Rating Our Review Key Benefits User Reviews (17) Pairs Well With Pros & cons Pros Earn an average of 5% cash back with Neo retail partners. Guranteed approval as a secured credit card. Only requires a minimum security deposit of $50. Cons Limited rewards outside of Neo partners. No insurance included. Card not issued by a bank. Your rewards How you earn rewards Each card earns rewards differently. Part of choosing your card is deciding what type of rewards you want to get. With Neo Secured Credit , here's how you earn rewards: Average of 5% cash back at partner retailers 1% cash back on gas , up to $500 spent monthly 1% cash back on groceries , up to $500 spent monthly For all reward details click here . How much your rewards are worth The dollar value of your rewards depends on the specific rewards program ‒ and what you choose to redeem your points for. For Neo Secured Credit in particular, if you spend $2,000 per month, here's our estimated annual rewards earned depending on which reward you choose: Statement credits $126   Statement credits $126 This card doesn't offer any rewards. Calculating your annual rewards $24,000 annual spending x 0.53% return on spending = $126 annual rewards $126 annual rewards − $95.88 annual fee = $30 net annual rewards Details and eligibility Do I qualify? Estimated Credit Score 300 - 559 Personal Income N/A Household Income N/A Canadian resident who has reached the provincial age of majority. Fees Annual Fee $95.88 Extra Card Fee $10 Card type Credit Interest rates Purchase 19.99% - 29.99% Cash Advance 22.99% - 31.99% Balance Transfer 22.99% - 31.99% Genius Rating Neo Secured Credit's 1.5 Genius Rating is based on the weighted average of the following scores: Rewards 0.7 Fees 2.6 Insurance 0.0 Interest 1.2 Perks 1.2 Approval 5.0 Acceptance 5.0 User Reviews 2.2 Methodology All scores are produced by our math-based rating algorithm that takes into account over 126 credit card features. Learn more about our rating methodology. Top cards if you have Poor Credit GC: $100 KOHO Extra Mastercard Up to 1.5% cash back on purchases + Lower annual fee. * Marriott Bonvoy ® American Express ® * Card Up to 50,000 bonus points + Annual free night certificate. * CIBC Aventura ® Gold Visa * Card (QC) Earn up to 45,000 Aventura points + 4 free lounge passes per year. * Neo Secured Credit review Written by creditcardGenius Team   Fact Checked Fact Checked Accuracy is important to us so this article has gone through a thorough 3-stage review process and fact-checked by our team. Need to improve your credit score? One of the best ways to get your score started on the road to recovery is with a secured credit card . One of your best options is Neo Secured Credit . Unlike with other secured credit cards, you can earn plenty of rewards on purchases for a monthly fee of $7.99. Here's what this card has to offer. In this article Getting Neo Secured Credit Neo Secured Credit rewards 3 benefits of Neo Secured Credit 2 downsides of Neo Secured Credit Comparison to the Home Trust Secured Visa FAQ Getting Neo Secured Credit How do you get Neo Secured Credit? It's quite easy. You can use our secure links to take you to Neo's site by clicking on any "Apply Now" button on this page. This is where things get easy with Neo. First, they won't conduct a hard credit check when you submit an application. No need to worry about a credit check showing up on your credit file. Once your application is done, you'll need to provide a security deposit to get a card issued. With most secured cards, you'll need to provide at least $500. But with Neo, you'll only need to provide $50, making it much easier for anyone to open an account. And with that, you'll have the best secured credit card available in Canada. Why is it the best? Here's why. Neo Secured credit card rewards Neo Secured Credit is a rare secured credit card in Canada that also offers rewards. You'll be earning cash back at these rates: Average of 5% cash back at partner retailers 1% cash back on gas, up to $500 spent monthly 1% cash back on groceries, up to $500 spent monthly Now, there are some things to point out. The base rates aren't very good. But if you have a Neo Everyday Account you can earn more, depending on how much you have deposited. Neo Everyday account balance $0 $1,000 $3,000 $5,000 $10,000 Gas 1% 1.5% 2% 3% 4% Groceries 1% 1.5% 2% 3% 4% Everything else 0% 0.5% 0.5% 0.5% 1% You're also subject to spending caps. Once you reach the annual spending cap in each category, you'll no longer be earning rewards. Groceries – $6,000 Gas – $10,000 Everything else – $20,000 3 benefits of Neo Secured Credit On top of the rewards and how easy it is to get one, here are 3 benefits to the Neo Secured Card. 1. Redeem your rewards on demand With many cash back credit cards, you only get to redeem your rewards once per year, as a statement credit. But not here. With Neo, you can choose when you want to redeem your rewards and there are no minimum redemption options. You don't even have to get statement credits either – you can choose to redeem your cash back for merchandise and other rewards with Neo. 2. Many one-time welcome bonuses While there's no overall welcome bonus, you can still earn many one-time bonuses with Neo's partners. With select partners, you can earn 15% back on your first purchases – that’s some really easy cash back to earn with your new Neo Card. 3. Upgrade to Neo Premium Want to take your secured credit card to the next level? For only $4.99 per month ($59.88 per year), you can upgrade to Neo Premium and get more rewards and a few extras. Let's start with the rewards. First, you'll get a pair of base earn rates: 3% cash back on gas and groceries, and 0.5% cash back everywhere else. You'll also earn more cash back with Neo's retail partners: 6% average cash back at restaurants, bars, and cafes, 4% on popular streaming services, 4% on ride sharing services, 4% on food delivery services, and 3% or more at retail partners. As to extra benefits, this is what it offers: credit score monitoring, $2,500 group life insurance, 24/7 legal assistance, purchase protection and extended warranty, and priority security support. 2 downsides of Neo Secured Credit As with everything, there are a couple of downsides to be aware of. 1. No included insurance coverage First, there's no insurance included, so if you want the extra peace of mind that comes with free insurance, you won't find it here. With that said, this is pretty common for secured credit cards – it's rare to find one that has any insurance included at all. 2. Caps on earning rewards There are also some caps on rewards. We've already covered earning rewards at partner retailers, but you get limited rewards outside of them. You'll only earn 1% back on gas and groceries – and that's it. You won't earn rewards elsewhere. Now, that changes when you have money deposited into a Neo Everyday Account. But you need a lot deposited and you'll only earn 0.1% interest while it's there. Comparison to the Home Trust Secured Visa Neo Secured Credit isn't the only secured credit card available. Another option exists in the Home Trust Secured Visa Card. Here's how these 2 credit cards compare. Neo Secured Credit Card Home Trust Secured Visa Earn Rates * Average of 5% cash back at partner retailers * 1% cash back on gas, up to $500 spent monthly * 1% cash back on groceries, up to $500 spent monthly None Insurance Coverage None None Minimum Security Deposit $50 $500 Foreign Exchange Fee 2.5% 2% Annual Fee $95.88 $0 Apply Now Apply Now Apply Now There really isn't much of a comparison – Neo is better in almost every way. It offers rewards on purchases and only requires a minimum deposit of $50, as opposed to $500. Home Trust does have one advantage in that it charges no annual fee, but otherwise Neo is probably going to be a better option for you. Your turn Neo Secured Credit is top dog when it comes to secured credit cards, as it has no annual fee and earns rewards on purchases. If you get this card, leave us a user review below so others can see what you thought of it. FAQ What does Neo Secured Credit offer for rewards? Neo Secured Credit offers an average of 5% when shopping with retail partners and 1% back on gas and groceries, with the ability to earn more when you have money deposited into a Neo Everyday Account. What are the requirements to get Neo Secured Credit? There aren't many requirements . You won't be subjected to a hard credit check, and you'll only need to provide a $50 deposit to get an account opened. What are the annual fee and income requirements of Neo Secured Credit? Neo Secured Credit has a $95.88 annual fee and no income requirements. Key benefits A rare secured credit card that offers rewards on purchases. Requires a small $50 security deposit and no hard credit check to get an account open. Earn an average of 5% cash back when shopping with partner merchants. Earn 1% cash back on gas and groceries. Earn an average of 3% cash back with partner streaming services, rideshares, and food delivery. Upgrade to Neo Premium for more cash back and benefits. Requires a small $50 security deposit to open an account. Get your cash back paid out when you like. Show more... User review s 2.2 out of 5 Reviewed by 17 Canadian s Add Review 5 stars 12% 4 stars 18% 3 stars 6% 2 stars 12% 1 stars 53% Add Review Do you own this card? I have it I canned it × How good is this card overall? × Rate the application process: Rate the customer service: Thank you for your review! Hang tight while we verify and approve it. If you want to see your review right away... Create an account: Name * Email * Password * Password requirements: At least 8 characters long At least one lower case letter At least one upper case letter At least one number At least one special character Password confirmed Password best practices Please send me credit card deals, news, reviews, and tips directly to my inbox. It only takes one click to unsubscribe. By clicking the button below, you agree to our Privacy Policy and Terms and Conditions .   Login Aaron a year ago 1 Finally let it go. Even with a credit history, I wanted a credit card with a very low limit, and I thought that a secured card would be the way. (Prepaid cards sometimes don't work in places like gas station pumps.) Now that it is no longer free to use it, I finally convinced myself to let it go. Dylan Lalonde a year ago 1 Last secured Credit Card was with "Plastk" secured credit card and when I cancelled it took over a year and 4 months to get my $200 deposit back. I haven't had issues with Neo but CS doesn't seem helpful when I tried calling for support. I've made a lot of cash back and mainly use the card to build my credit but when I went to reduce my limit back too $100 it says I need to close my account to do that And I've been told by people after you close the account you can't open another one under the same name so never put more money than what you plan on using for your secured balance. I am really hoping that when it comes time to close this account or move to another credit card that it will take a while to receive my funds again. I hope it's not the case but looks complicated and definitely is giving me vibes from what happened with Plastk. I like the rewards that are offered for travel and tech. The premium version is great but you can subscribe and unsubscribe when you are using the card more. It's been a good experience so far and I haven't had any issues but do fear if I did there wouldn't be someone to turn to. As I said customer support seems a little crusty. Marguerite a year ago 1 I would give them a 5 stars but they have added a $5 monthly fee to the card. Also raising the price of the Premium Perks from $4.99 to$9.99 monthly. Your cashback will be $15.00 less each month. Tel 2 years ago 1 My Neo Card with enough funds get declined in some parking payment machines in Vancouver. Aaron 2 years ago 1 It's hard to keep up with which stores they have offers for. You have to keep going back to the app and searching for the store/merchant OR you have to open your app when approaching the store so it detects that you're in the area. I recently went to two stores which previously had offers and then I realized they no longer do. I have another card that has 1% cash back. I could have used that instead of 0.5% on this. 1 2 3 4 Pairs well with... 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Resources Review Your Card Credit Card FAQ Sliders Credit Card Quiz Company About Careers Scholarship Disclosure Help Contact GeniusCash Report Bug   Privacy Policy | Terms | Security Province: Alberta British Columbia Manitoba New Brunswick Newfoundland and Labrador Nunavut Northwest Territories Nova Scotia Ontario Prince Edward Island Quebec Saskatchewan Yukon Copyright © 2025 WeyMedia Inc. 200 Champlain St. Suite 210, Dieppe, NB E1A 1P1 ◊ The creditcardGenius algorithm, based on our Rating Methodology , calculates an estimated dollar value for all rewards and bonuses by combining typical monthly spending with well-researched reward point value estimates . "Annual Rewards" is calculated by combining our default $2,000 in monthly spending ($24,000 annually) spread across 8 different spending categories (gas, groceries, travel, etc) with our point value estimates. "Welcome Bonus" is calculated by combining all one-time bonuses available to new cardholders within the first year with our point value estimates. To qualify for the full bonus you may need to make purchases, meet minimum spending requirements, or complete special actions. "Annual Interest Savings" is based on a credit card balance of $8,000 and a standard credit card interest rate of 19.99%. Annual Rewards, Welcome Bonus, and Annual Interest Savings values will change if the person adjusts their monthly spending away from the $2,000 monthly default or changes their reward preferences. *, † Terms and conditions apply. Your feedback matters What do you think of creditcardGenius? Needs work It's ok It's great! Disclosure creditcardGenius receives a referral fee for some credit cards listed; however, our comprehensive and math-based algorithm solely dictates the results of our rating system. Our ratings and rankings are strictly independent of compensation. 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Latest Updates $150 GeniusCash + 0.5% extra cash back Up to 5% cash back on essentials Avg of 5% back at Neo's retail partners Get the Neo World Elite Mastercard * Personal Loans vs. Credit Cards – What's the Difference Your Guide To DragonPass Lounges Financing For Students – From Student Credit Cards To Student Loan Services $100 GeniusCash + Transfer points to Aeroplan and 7 other travel partners with Canada's #1 credit card . *