Reviewed by Jen, founder of MoneyMint · Updated September 25, 2026

Neo FinancialCash Back Card

Neo World Elite Mastercard

Our take: a strong everyday cashback card if you pick the version that matches your spending, but the monthly caps are tight and there’s no welcome bonus.

#7 Cash back

No welcome bonus currently offered

Apply on Neo Financial’s site →

Goes straight to Neo Financial
Our review

Three versions, one $149 fee: Neo sells this card as Gas & Grocery, Shop & Dine or Everywhere. You choose one when you apply, and each earns cashback differently. The rates below are from Neo’s own pages, checked September 25, 2026.

The Neo World Elite Mastercard is Neo Financial’s premium cashback card. It costs $149 a year, requires $80,000 in personal income (or $150,000 household), and comes in three versions: Gas & Grocery (5% on groceries, 4% on recurring bills, 3% on gas and EV charging), Shop & Dine (5% on food and drink, 3% on retail shopping) and Everywhere (a flat 2%). Every bonus rate has a monthly spending cap, after which you earn 1%. There’s no welcome bonus, but the card includes Neo’s Build membership, travel insurance (not for Quebec residents) and purchase protection.

3.5out of 5

MoneyMint rating

#18 of 30 travel rewards cards · How we rate

Rewards value

5/10

Insurance

10/10

Flexibility

8/10

Welcome bonus

0/10

Fee value

10/10

Perks

2/10

≈ $301

estimated first-year value after the annual fee, on a typical $2,050/month budget. See it for your spending →

At a Glance

Annual fee

$149includes Neo’s Build membership at no extra cost

Foreign transaction fee

2.75%rebated on up to $10,000/month with Neo’s paid Grow membership

Income requirement

$80,000individual; or $150,000 household

Rewards

Up to 5%depends on the version you choose; monthly caps apply

Purchase rate

19.99%–29.99%set by your credit profile; cash advances 22.99%–31.99%

Credit limit

Up to $30,000a secured version needs at least $200 in security funds (limit up to $10,000)

Pros & Cons

Pros

Three versions let you match the card to where you spend most: groceries and bills, dining and shopping, or a flat rate on everything
5% on groceries (Gas & Grocery) or on food and drink (Shop & Dine) is one of the highest category rates on a Canadian card
Cashback is instant and can be used any time, with no points to convert
Includes Neo’s Build membership, travel insurance (not for Quebec residents) and purchase protection

Cons

$149 annual fee and no welcome bonus
Bonus categories are capped at $1,000 a month each ($500 for recurring bills), then drop to 1%
Purchase rate is set by your credit profile and can be as high as 29.99%
2.75% foreign transaction fee unless you pay for Neo’s Grow membership
High income requirement: $80,000 personal or $150,000 household

Rewards & Earn Rates

Rates shown are for the Gas & Grocery version, the one featured on Neo’s main product page. You choose your version when you apply, and existing Neo cardholders can swap cards in the app.

Groceries

capped at first $1,000/month, then 1%

Recurring bill payments

subscriptions, utilities, memberships; capped at first $500/month, then 1%

⛽ Gas & EV charging

capped at first $1,000/month, then 1%

Everything else, and all spend above category caps

The other two versions: Shop & Dine earns 5% on food and drink and 3% on retail shopping, each capped at $1,000 of spending a month, then 1%. Amazon and wholesale purchases don’t count as retail shopping. Everywhere earns 2% on up to $4,000 of spending a month, then 1%. All three versions cost $149 a year.

Neo partner offers: You can earn extra cashback at participating Neo partner merchants through offers in the Neo app. Rates vary by partner and offer, so treat them as a bonus rather than something to count on.

Perks & Benefits

Travel & purchase coverage

Travel insurance underwritten by Chubb (not available to Quebec residents); see Neo’s insurance certificates for coverage details
Purchase protection and extended warranty coverage
Mastercard Travel benefits, including a membership for airport lounge access (check the membership terms for per-visit costs)
Mastercard Zero Liability protection

Account features

Neo’s Build membership included at no extra cost, which adds TransUnion credit score monitoring and Neo’s credit builder tool
Instant virtual card, real-time alerts and AI-based fraud monitoring
Additional cardholders share your credit limit, and their cashback goes to your Rewards Wallet
Optional balance protection, sold separately

Who It’s For

Best for

People who meet the income requirement and spend close to $1,000 a month on groceries (Gas & Grocery) or on dining and delivery (Shop & Dine)
Anyone who wants simple cashback they can use right away
Steady spenders who’d rather earn a flat 2% on up to $4,000 a month (Everywhere)

Not ideal for

Anyone who wants a welcome bonus
Big spenders whose category spending regularly goes past the monthly caps
Travellers who spend a lot in foreign currencies (2.75% fee)
Quebec residents who want the travel insurance

Not Sure? Three Cards People Compare It With

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Fee $599Rating 4.2 ★Bonus $1,800

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RBC ION+ Visa

Pick this instead if you want a bigger welcome bonus (~$200 est.).

Fee $48Rating 2.7 ★Bonus $200

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TD Cash Back Visa Infinite Card

Pick this instead if you want a bigger welcome bonus (~$600 est.).

Fee $139Rating 4.4 ★Bonus $600

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3.5MoneyMint rating

Neo World Elite Mastercard

Best for groceries and gas · $149/year

Apply on Neo Financial’s site →Find a better fit

Jen, founder of MoneyMint

Reviewed by Jen. Every figure on this page was checked against Neo Financial’s official card page on September 25, 2026. How we rate cards →

This is general information, not personalized financial advice — consider your own spending habits, ability to meet the income requirement, and how much of your spending falls within the monthly caps before applying, and consult a professional for decisions specific to your situation. Rates, fees, and terms are set by Neo Financial and can change without notice; always confirm current terms on Neo’s official page before applying.

Frequently Asked Questions

What is the annual fee for the Neo World Elite Mastercard?

The Neo World Elite Mastercard has a $149 annual fee. It includes Neo’s Build membership at no extra cost.

What is the rewards rate on the Neo World Elite Mastercard?

It depends on the version you choose. Gas & Grocery earns 5% on groceries, 4% on recurring bills and 3% on gas and EV charging. Shop & Dine earns 5% on food and drink and 3% on retail shopping. Everywhere earns 2% on everything. Bonus rates are capped each month ($1,000 per category, $500 for recurring bills and $4,000 for Everywhere); after the cap, you earn 1%.

Does the Neo World Elite Mastercard have a welcome bonus?

No. Neo’s product page doesn’t show a welcome bonus for this card as of September 25, 2026.

What credit score do I need to qualify for the Neo World Elite Mastercard?

Generally, you’ll want a very good credit score to be considered for the Neo World Elite Mastercard. Approval also depends on income and overall credit history, not credit score alone.

Does the Neo World Elite Mastercard charge foreign transaction fees?

Yes. Neo charges a 2.75% foreign transaction fee on its credit cards. With Neo’s paid Grow membership ($14.99 a month), the fee is rebated on up to $10,000 of foreign spending a month.