🇨🇦 Neo Financial Neo World Elite Mastercard: First-Year Fee Waived + $100

Highlights

• A $149 annual fee and a $49 fee for each additional cardholder; choose from three cashback plans based on your spending.
• Gas & Grocery, Shop & Dine, and Everywhere cover everyday essentials, dining and shopping, or all purchases.
• The Neo World Elite Mastercard includes DragonPass airport lounge access and World Elite partner offers.
• Coverage includes rental cars, medical emergencies, baggage, flight delays, trip cancellation, and purchases; travel insurance is unavailable to Quebec residents.

Who it suits: This card is a fit for people who meet the $80,000 personal or $150,000 household income requirement and spend regularly on groceries, gas, dining, or recurring bills. You can choose a plan around your spending, and frequent travellers can use the rental-car, medical, and baggage coverage. If your monthly spending is light or you live in Quebec, weigh the $149 annual fee and the travel-insurance restriction carefully.

Issuer: Neo Financial Technologies Inc.
Network: Mastercard
Product type: Credit card
Annual fee: $149; $49 per additional card
Foreign-currency conversion fee: 3%

The card earns cashback through the Neo Rewards Program. Cashback is held in the Rewards Wallet and can be redeemed once you have at least $1, to the credit card, a Neo Chequing account, or a Neo Everyday account.

Welcome Offer

【October 20, 2026 update】 First-year fee waived + $100:

• The $149 first-year annual fee is waived.
• The partner cashback site provides $100.

Apply through the partner cashback site 🔗 (Gas & Grocery)

Apply through the partner cashback site 🔗 (Shop & Dine)

Apply through the partner cashback site 🔗 (Everywhere)

Applicants need at least $80,000 in personal annual income or $150,000 in household annual income. A secured version is also available: it requires a security deposit in the Neo Money account, and the credit limit can be up to $10,000; the regular version can have a credit limit of up to $30,000.

Everyday Spending

Up to 15%: extra cashback at Neo Partner merchants. Thousands of merchants in Canada offer extra cashback on top of the base rate. Neo also says that 15% is an average based on selected current offers, so the actual rate and eligible spending vary by merchant, offer, and program.

• 🙋‍♂️ If you choose the Gas & Grocery cashback plan:

5%: groceries. The first $1,000 in each month earns 5%; spending after the category cap earns 1%, and the cap resets monthly.

4%: recurring payments. The first $500 each month earns 4%; spending above the cap earns 1%, and the cap resets monthly.

3%: gas and EV charging. The first $1,000 in each month earns 3%; spending after the category cap earns 1%, and the cap resets monthly.

1%: everything else. Eligible other purchases earn 1%.

• 🙋‍♂️ If you choose the Shop & Dine cashback plan:

5%: food and drink. The first $1,000 in each month earns 5%; spending after the category cap earns 1%, and the cap resets monthly.

3%: retail shopping. The first $1,000 each month earns 3%; spending after the category cap earns 1%, and the cap resets monthly. Amazon and wholesale purchases do not earn retail-shopping cashback.

1%: everything else. Eligible other purchases earn 1%.

• 🙋‍♂️ If you choose the Everywhere cashback plan:

2%: all purchases. The first $4,000 in each month earns 2%; spending above the cap earns 1%, and the cap resets monthly.

Mastercard MCCs determine the categories. Refunds, rebates, and similar credits can reduce or cancel the cashback from the original purchase. The highest rates on Gas & Grocery and Shop & Dine may require a minimum balance in a Neo Everyday account; check the Neo app for the current requirement.

Benefits & Insurance

• World Elite partner offers (World Elite Mastercard benefits)

Participating World Elite merchants may offer discounts; the discount and eligible merchants depend on the current offers shown by Mastercard and Neo.

Travel Insurance

Official insurance certificates 🔗

The travel coverage below is unavailable to Quebec residents. Unless a policy says otherwise, claim notice, written notice, and supporting documents are due within 48 hours, 30 days, and 6 months respectively; each certificate sets its own payment requirements.

• Auto Rental Collision/Loss Damage Insurance

Pay the full rental cost with this card and decline the rental agency’s CDW. Coverage is primary and pays the rental car’s actual cash value plus valid loss-of-use charges. Only one rental car is covered at a time, and each rental can last up to 48 days; a longer rental is not covered for the full period. Third-party liability, injuries, damage outside the rental car, alcohol or drug use, off-road use, speed contests, and vehicles with an MSRP above $65,000 or listed special models are excluded.

• Car Rental Accidental Death & Dismemberment Insurance

Pay the full rental cost with this card. The primary cardholder, spouse, or dependent child can be covered while riding in, entering, or exiting the rental car if a covered death or dismemberment occurs within one year of the accident. The maximum is $100,000 for the primary cardholder and $10,000 for a spouse or dependent child, with a $150,000 aggregate limit for one rental car and one accident. Intoxication, off-road use, speed contests, intentional injury, and criminal acts are excluded.

• Car Rental Personal Effects Insurance

Pay the full rental cost with this card for an eligible four-wheel passenger-car rental lasting no more than 48 days. Personal effects are covered up to $1,000 per claimant and $2,000 per occurrence, as excess coverage after other insurance. Cash, tickets, consumables, valuables, and mysterious disappearance are excluded; theft claims require evidence of forcible entry and reasonable care of the belongings.

• Delayed and Lost Baggage Insurance

Pay the full airline ticket with this card or linked travel rewards. If baggage is delayed for more than 6 hours after arrival, necessary clothing and toiletries purchased before the bag is returned and within 96 hours of arrival are covered up to $1,000. Lost or damaged baggage is covered up to $1,000 in total, including delay and loss or damage. Exclusions include delay on the final return leg, insufficient check-in or connection time, and listed items such as electronics, cash, and documents.

• Out of Province/Country Emergency Medical Insurance

Pay the full trip with this card or linked travel rewards. The insured person must be under 60 and covered by a government health plan. Each trip is covered for the first 14 consecutive days after leaving the point of departure, with automatic extensions for situations such as hospitalization or a delayed medical return. Eligible emergency medical expenses are covered up to $1,000,000, with additional limits for dental care, evacuation, repatriation, a relative’s visit, and meals or accommodation during a delay. Contact Chubb Travel Assistance before treatment, or within 24 hours of hospital admission; otherwise, a 20% share of eligible expenses up to $25,000 may apply unless contact was impossible. Pre-existing conditions must have been stable for 6 months. Non-emergency care, pregnancy near delivery, hazardous activities, travel advisories, and alcohol or drug use are among the exclusions.

• Flight Delay Insurance

Pay the full airline ticket with this card or linked travel rewards. After check-in, if a missed connection, flight delay, or denied boarding leaves you without airline-provided alternative transportation for 4 hours, reasonable hotel, meals, refreshments, necessary purchases, and sundries are covered up to $250 per day for a maximum of 48 hours, and up to $500 per occurrence. Insufficient connection time and purchases made after the airline offers alternative transportation are excluded.

• Hotel and Motel Burglary Insurance

Pay the full hotel or motel room cost with this card. Coverage starts at check-in for a registered guest; burglary involving visible forcible entry can be reimbursed at the lower of actual cash value, replacement value, or repair cost, up to $1,000. Cash, tickets, perishables, mysterious disappearance, and losses where belongings were not reasonably protected are excluded.

• Trip Cancellation/Trip Interruption Insurance

Pay the full trip with this card or linked travel rewards. Cancellation and interruption each cover up to $1,000 per person, with a $5,000 aggregate limit per trip. Interruption coverage can include the most economical one-way fare, unused prepaid travel arrangements, a single supplement, and meals and commercial accommodation after a delayed return, up to $150 per day. Covered causes include specified sudden illness or death, hospitalization or death of a host, jury duty, a home disaster, government service, a Government of Canada travel advisory, and qualifying connection or weather events. Pre-existing conditions that were not stable for 6 months, foreseeable events, pandemics, pregnancy near delivery, and hazardous activities are excluded. Contact Crawford immediately when a cancellation or interruption occurs and provide notice within 48 hours.

Purchase Insurance

The two policies below require the full purchase price to be paid with this card. Claim notice, claim documents, and final supporting materials are due within 45 days, 90 days, and 6 months respectively.

• Purchase Protection

Pay the full purchase price with this card. Most new personal-property items are automatically covered worldwide for 90 days from purchase against loss, theft, or damage, without registration. Coverage is up to $1,000 per occurrence and $10,000 per account across all Neo cards, as excess coverage after other insurance. Commercial or business use, used or sample goods, services, food and alcohol, cash, vehicles, and other listed items are excluded.

• Extended Warranty Insurance

Pay the full purchase price with this card. An eligible manufacturer’s warranty can be up to 5 years, and coverage automatically extends after the original warranty ends for the same length, subject to a maximum additional extension of 1 year; the original warranty must be valid in Canada or the United States. Coverage is up to $1,000 per occurrence and $10,000 per account across all Neo cards. Used goods, services, dealer warranties, commercial use, normal wear, misuse, inherent defects, and repairs excluded by the original warranty are not covered.