Neo Credit Cards - Comparewise

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Neo

The Neo Secured card is a game-changer for anyone with poor credit or no...
  • $0
    Annual fee
  • $0
    Welcome Bonus
  • 5%
    Rewards Rate
  • Min.Credit:
                        
  • Rating: no reviews
The Neo Reward Credit Card is perfect for anyone who wants to get more...
  • $0
    Annual fee
  • $0
    Welcome Bonus
  • 5%
    Rewards Rate
  • Min.Credit:
                        
  • Rating: no reviews

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Neo Credit Cards

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Neo Financial is a new company that initially opened in 2019 and offers a credit card with cash back features. This company was initially started by two co-founders of Skip The Dishes to provide customers with a few convenient financial options outside of traditional banking.

In addition to credit card products, Neo Financial offers a high-interest savings account and has connections with ATB Financial and Concentra Bank. It’s a safe and legitimate company that offers CDIC protection for accounts up to $100,000.

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The Benefits of Neo Credit Cards

There are some great benefits for Neo Credit cards, including generous cashback options when you purchase various everyday items, including groceries, gas, restaurants, and related services from retailers.

There are no annual fees, making this product affordable for most people. You can access Neo Financial with a mobile app, which is convenient, and use it with digital payment options Google Pay and Apple Pay.

The cashback rate is generous, offering an average of five percent on most purchases, with no limits on the amount of cashback you can earn from using the card at stores that partner with Neo Financial.

The mobile app is available on Android and Apple platforms, and it’s easy to use, making it ideal for new customers. You can perform many actions on this app, including freezing your account temporarily if you lose your card, and there’s a $25 promotional bonus for new customers who sign up.

There are several rewards programs to choose from, which gives customers the option to find an affordable plan. This three-tier system includes the Neo Essential, which is free and allows you to earn four percent on cashback, Neo Plus, which increases cashback rewards and other benefits; and the Neo Ultra, which offers higher cashback rates, perks from partners and non-partner companies, and other added advantages.

Drawbacks of Neo Credit Cards

There are a few disadvantages to keep in mind, which don’t impact the quality of the card, though they may be worth considering. While Neo credit cards offer relatively high cashback rates, they vary considerably, depending on the retailers.

Potential customers may not be approved based on credit score ratings, or there may be limitations on the types of cards you can obtain.

Neo Credit Cards Summary

Neo credit cards are an excellent option for anyone new to using credit without high fees or many criteria for quality. It’s a relatively card to qualify for, as there are no significant income or credit score requirements.

You may have some difficulty if you have a lower credit score, though generally, Neo credit cards are affordable and ideal for most people.

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March 17, 2022
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FAQs about
Neo Credit Cards

How do Neo Financial’s credit cards compare with other brands?

Neo credit cards are similar to other fintech companies, such as Stack, KOHO, and Tangerine, which offer a variety of regular and prepaid credit cards. Neo Financial offers a competitive high cashback reward, which is attractive for new customers.

Are Neo credit cards suitable for most people?

Yes. Neo Financial is an excellent option for most people because it’s affordable, with no annual fees, and there are significant cashback earnings.

Is getting a cash advance from a Neo credit card worthwhile?

Like most credit cards, cash advances tend to carry a fee and add to the overall interest cost. While it’s generally best to avoid, it’s a good option in a pinch when you have a financial emergency.

How easy is it to register for a Neo credit card?

It’s an easy process that can be done entirely online by downloading the Neo Financial mobile app or using the company’s website.

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