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.