Pros & cons
Pros
- Earn an average of 5% cash back at Neo retail partners.
- Earn up to 2% cash back on purchases.
- Increase your cash back by keeping a balance of $5,000 in a Neo Everyday Account.
- Redeem your cash back whenever you want.
Cons
- Caps on bonus categories.
- High income requirements of $50,000 personal or $80,000 household.
- No welcome bonus.
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 World Mastercard, here's how you earn rewards:
- Average of 5% cash back at partner retailers
- 2% cash back on groceries , up to $1,000 spent monthly
- 2% cash back on recurring bills , up to $500 spent monthly
- 2% cash back on gas and EV charging , up to $1,000 spent monthly
- 0.5% cash back everywhere else
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 World Mastercard in particular, if you spend $2,000 per month, here's our estimated annual rewards earned depending on which reward you choose:
| Statement credits | $327 |
Calculating your annual rewards
$24,000 annual spending x 1.36% return on spending = $327 annual rewards
$327 annual rewards − $0.00 annual fee = $327 net annual rewards
Details and eligibility
- Estimated Credit Score
- 560 - 659
- Personal Income
- $50,000
- Household Income
- $80,000
- Annual Fee
- $0.00
- Extra Card Fee
- $10
- Card type
- Credit
- Purchase
- 19.99% - 29.99%
- Cash Advance
- 22.99% - 31.99%
- Balance Transfer
- 22.99% - 31.99%
Insurance coverage
- Extended Warranty
- 1 year
- Purchase Protection
- 90 days
Please review your insurance certificate for details, exclusions and limitations of your coverage, terms and conditions apply.
Learn more about the value of credit card insurance coverage.
Genius Rating
Neo World Mastercard's 4.4 Genius Rating is based on the weighted average of the following scores:
Methodology
All scores are produced by our math-based rating algorithm that takes into account over 126 credit card features.
Neo World Mastercard review
The Neo World Mastercard is a rare no annual fee World Mastercard. With this card, you'll earn cash back on your purchases.
Here is what it offers and how it compares to other no fee World and World Elite Mastercards.
Earning cash back with the Neo World Mastercard
As a cash back credit card, every purchase earns you a little slice of cash. Here are the base earn rates for the Neo World Mastercard:
- Average of 5% cash back at partner retailers
- 2% cash back on groceries, up to $1,000 spent monthly
- 2% cash back on recurring bills, up to $500 spent monthly
- 2% cash back on gas and EV charging, up to $1,000 spent monthly
- 0.5% cash back everywhere else
Those are some good earn rates for a no fee card..
Pros of the Neo World Mastercard
Beyond the rewards you can earn, here's what there is to like about the Neo World Mastercard.
1. Redeem cash back on demand
There's no waiting around when you want your rewards. You're in control when you want your cash back paid out and can apply your rewards to any purchase you make.
2. No annual fee
Most World Mastercards have a fee but not here – this is a rare World Mastercard with no annual fee.
3. Available as a secured credit card
There is a secured version of this card if you have poor credit and wouldn't otherwise be approved for the regular version. The only differences? The secured version has a 7.99 monthly fee and requires a minimum $50 security deposit to get started (which then becomes your credit limit).Cons of the Neo World Mastercard
There are a couple of things to consider with the Neo World Mastercard.
1. Poor base earn rate
Unless you plan on leaving $10,000 in a Neo Everyday Account, you'll only be earning back 0.5% on your non-category spending.
2. World Mastercard income requirements
We're dealing with a World Mastercard and, as such, it has the usual World Mastercard income requirements of $50,000 personal or $80,000 household. You’ll need to meet this requirement to qualify for the card.
3. Caps on rewards
Neo caps your rewards earnings and you’ll earn just 0.5% once you hit your monthly spend cap. Here's what you're limited to:
- Groceries: $1,000
- Gas: $1,000
- Bills: $500
Comparison to other top no cash back credit cards
Here's how the Neo World Mastercard stacks up against other no fee World and World Elite Mastercards, the Tangerine World Mastercard and the Rogers Red World Elite Mastercard.
| Neo World Mastercard | Tangerine World Mastercard | Rogers Red World Elite Mastercard | |
|---|---|---|---|
| Earn rates | * Average of 5% cash back at partner retailers * 2% cash back on groceries, up to $1,000 spent monthly * 2% cash back on recurring bills, up to $500 spent monthly * 2% cash back on gas and EV charging, up to $1,000 spent monthly * 0.5% cash back everywhere else | * 2% cash back on purchases in up to 3 Money-Back Categories * 0.5% cash back on all other purchases | * Earn 2% unlimited cash back on all eligible non-U.S. dollar purchases if you have 1 qualifying service with Rogers, Fido, Comwave, or Shaw * Earn 1.5% unlimited cash back on eligible non-U.S. dollar purchases * Earn 3% unlimited cash back on all eligible purchases made in U.S. dollars |
| Welcome bonus | None |  $125 GeniusCash + 10% extra cash back for the first 2 months (terms) | None |
| Average earn rate | 1.36% | 1.14% | 1.5% |
| Insurance included | 2 types | 4 types | 6 types |
| Other perks | * World Mastercard benefits | * World Mastercard benefits | * World Elite Mastercard benefits |
| Annual fee | $0 | $0 | $0 |
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FAQ
What does the Neo World Mastercard offer for rewards?
The Neo World Mastercard is a cash back card and can earn you cash back at these rates:
- Average of 5% cash back at partner retailers
- 2% cash back on groceries, up to $1,000 spent monthly
- 2% cash back on recurring bills, up to $500 spent monthly
- 2% cash back on gas and EV charging, up to $1,000 spent monthly
- 0.5% cash back everywhere else
Does the Neo World Mastercard offer any special benefits?
The Neo World Mastercard provides standard World Mastercard benefits.
What are the annual fee and income requirements of the Neo World Mastercard?
The Neo World Mastercard has no annual fee and income requirements of $50,000 personal or $80,000 household.
Key benefits
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