pencil icon Write a review
No Reviews
  • $0 Annual fee
  • $0 Welcome Bonus
  • 5% Rewards Rate
tag icon

Join the Neo community and get cashback like never before - Claim this offer

Neo Secured Card Overview

The Neo Secured card is a game-changer for anyone with poor credit or no credit history. It offers guaranteed approval for eligible applicants, regardless of credit ratings. This is especially beneficial if you’re a foreigner living in Canada who can’t get a credit card.

It functions like a regular credit card for the most part. However, you’ll need to deposit cash into your account equal to your card limit.

The Neo Secured card comes with enticing benefits, including its $0 annual fee. Secured cards cost an average of $120 per year. With the Neo Secured card, you will save $120 every year.

Unfortunately, the card doesn’t provide insurance, such as an extended warranty and mobile device coverage. Instead, it offers up to 15% cashback on your first purchase from Neo’s partner stores.

Neo Finance Card Mar 13 Comparewise - Comparewise

From then on, you’ll earn up to 5% cashback at local and national Neo partners. This is great because most secured cards don’t offer cashback rewards. Some of Neo’s partners and the rewards you can earn include Loblaws (1%), Amazon (2%), Dollarama (3%), and Canadian Tire (2%). What’s more, you can upgrade your cashback earning potential up to 6% by purchasing one of Neo’s reward plans.

Essential Information

Network

Mastercard

Provider

Neo Financial

Card Type

Secured

Rewards

The Neo Secured Card offers a welcome bonus and cashback on everyday purchases.

Welcome Bonus

Your first purchase with your Neo Secured Card can earn you up to 15% cashback at most participating stores.

Cashback

With the Neo Secured card, you will earn:

  • Up to 5% cashback at local and national Neo partners
  • 1% back for all other purchases. If your overall cashback falls below 1%, Neo will top you up.

Rewards Plans

The Neo Secured card comes with the option of increasing your cashback by purchasing one of Neo’s available rewards plans. You can choose between standard, plus, and ultra.

  • The Standard Rewards plan is free for all Neo customers. It earns you an average of 4% cashback at Neo partners and has a 1% minimum cashback guarantee.
  • Set at $2.99 per month, the Plus Rewards plan earns you an average of 5% cashback at Neo partners. It also has a 1% minimum cashback guarantee.
  • The Ultra Rewards plan earns you an average of 6% cashback at Neo partners for $8.99 per month. This plan has a 1% minimum cashback guarantee as well.

You can switch between plans at any time. Also, you won’t be locked into an annual fee.

Neo Financial Review 6 - Comparewise

Key Perks

  • Guaranteed approval.
  • No annual fees and over-limit fees.
  • Access to a card freezing feature through the Neo app.
  • Track spending with real-time notifications.
  • Ability to cash out your rewards at any time.
  • Fraud liability protection alerts you when there’s suspicious activity on your card.
  • Ability to link your Neo Secured card to digital wallets, such as Apple Pay and Google Pay.

Costs and Fees

  • Standard plan annual fee: $0
  • Plus plan annual fee: $36
  • Ultra plan annual fee: $108
  • Interest rate: 19.99% – 24.99%
  • Cash advance rate: 21.99% – $26.99%
  • Overlimit fee: $0
  • Inactive fee: $0
  • Foreign exchange fee: 2.5%

FAQs about the
Neo Secured Card

Is the Neo Secured Card a Credit Card?

Yes, the Neo Secured card is a regular credit card used to make purchases. All of your transactions are disclosed to the credit bureaus automatically.

Is It Difficult to Get a Neo Secured Card?

The Neo Secured Credit Card offers guaranteed approval, making it one of the easiest cards to get in Canada.

Who’s Eligible for the Neo Secured Card?

You can apply and be approved for this secured card with any credit score. Neo Financial does not run a hard credit check on you. You must be a Canadian resident and the age of majority in your province to get the Neo Secured card.

What Is the Income Requirement for a Neo Secured Card?

There’s no specific income requirement. However, Neo Financial will ask if you have a source of income.

Where Is the Neo Secured Card Accepted?

The Neo Secured card can be used anywhere MasterCard is accepted. You can also check the Neo app or go to Neo Financial’s website to see where the card is accepted.

How Do I Activate My Neo Secured Card?

To begin, go to the Neo app or website and log in to your account. Click the ‘card’ icon in the app or on the website. Click the ‘Activate your physical card’ button to activate your Neo secured card.

Fill in the details of your new card. Once you’ve reviewed your pin, you’re done.

What Is the Neo Secured Card’s Credit Limit?

The credit limit on the Neo Secured Card can be between $50 and $10,000. Your first deposit determines your credit limit on the secured card. For instance, if you deposit $3,500, your credit limit is $3,500. This means you can’t make purchases on credit beyond $3,500.

How Do I Increase My Credit Limit?

You’ll need to increase your security deposit to increase your credit limit.

Neo Secured Card Details

Provider
Neo
Network Provider
Mastercard
Card Type
Secured
Annual Fee
$0
Purchase Interest Rate
19.99%
Cash Advance Rate
21.99%
Credit Needed
Poor (300 - 559)
                                                                                                                    

Neo Secured Card Offices

Phone Number
1 (855) 636-2265
Email
support@neofinancial.com
Hours
7 days a week from 7:00 am to 8:00 pm MT
Address
800 W Pender St Vancouver BC V6C 2V6 Canada
Social
Review widget

Add the badge below to show your rating on your website. Embed the review widget by simple copying the code below.

Reviews

No reviews submitted yet. Have you used this brand in the past? Be the first to review!

Submit Review

Thank you for your valuable input!

Characteristics
  • Bonuses
  • Rewards
Service
  • Knowledge
  • Usability
wealthy simple free stock ad banner
Neo Secured Card Card Details
  • Min. Credit :
    Poor (300 - 559)
                                                                    
  • Card Type : Secured
  • Providers : Neo
  • Network Provider : Mastercard
Neo Secured Card Social Media
Neo Secured Card Reviews
0 average based on no reviews
Characteristics
  • Bonuses
  • Rewards
Experience
  • Service
  • Usability

Grow your finances today.

By submitting, you agree to comparewise’s terms of use and privacy policy.

Browse credit cards by Type

High-interest charges ...

Business credit cards ...

Credit cards are conve...

Most credit cards comb...

Having a credit card c...

With the credit card i...

If you have poor or no...

Getting your first cre...

Making purchases in US...

Car loan?
Personal Loan?

Top deals await you just a short
application away!