The Neo World Elite® Mastercard is a cashback credit card positioned for higher-income Canadians seeking above-average rewards on everyday spending. The card combines tiered cashback rates, partner bonuses and comprehensive insurance protections, aiming to deliver instant rebate value and travel-related coverages for eligible cardholders.
Key Benefits
The Neo World Elite® Mastercard centres on high cashback rates across common spending categories, with instant access to earned cashback and extra rewards from partner merchants.
- Generous category cashback
5% back on groceries, 4% back on recurring payments, 3% back on gas and EV charging, and 1% back on other purchases. - Partner bonus opportunity
An additional average of 5% back when shopping with cashback partners (10,000+ partner locations reported). - Includes travel and purchase protection benefits
Comprehensive travel insurance, extended warranty, purchase protection, Mastercard Zero Liability and auto rental collision loss damage coverage.
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Pros & Cons
| Pros | Cons |
|---|---|
|
– High cashback rates across several categories – Instant availability of earned cashback – Additional cashback with a large partner network – Comprehensive insurance coverage and security features |
– $125 annual fee – High minimum income requirement and recommended very good credit – Cashback subject to monthly spend limits for categories |
Requirements & Conditions to Apply
- Minimum annual income
Individual applicants must report a minimum annual income of $80,000; household applicants must report $150,000. - Credit profile
Approval is recommended for those with very good credit; eligibility conditions reflect a higher credit expectation. - Secured option
A Secured Neo World Elite® Mastercard requires a minimum deposit of $200. - Annual fee
A maintenance annual fee of $125 applies. - Interest rate
An annual interest rate (APR) of 19.99% applies to purchases and carried balances.
Frequent Asked Questions
1) What cashback rates are offered on this card?
The card offers 5% back on groceries, 4% back on recurring payments, 3% back on gas and EV charging, and 1% back on other purchases. Additional average cashback of about 5% can be earned when shopping with listed cashback partners.
2) What travel and insurance protections are included?
Coverage includes delayed and lost baggage, flight delay, trip interruption and emergency medical coverage for out-of-province/country travel. Extended warranty and purchase protection are included, along with auto rental collision loss damage coverage and Mastercard Zero Liability protection. Note that travel insurances are unavailable for Quebec residents.
3) Who is eligible to apply?
Eligibility requires a minimum annual income of $80,000 for individuals or $150,000 for households and is recommended for applicants with very good credit. A secured version is available with a minimum $200 deposit.