Learn How to Apply for a Neo World Elite Mastercard

What do I need to know before applying?

The Neo World Elite Mastercard is an upcoming financial product that has the potential to yield up to $1,000 in annual cashback and great facilities.

The bank offers a diverse array of services, including standard credit products, everyday accounts, investment opportunities, and comprehensive account management.

In recent years, Neo has expanded its offerings to include a variety of credit card options, a relatively new initiative still in development, including the anticipated World Elite Mastercard.

Currently, the card is in a waitlist phase, but interested individuals can already register for updates.

Focusing on cashback rewards, the card provides 5% cashback on grocery purchases, 3% on gas, 4% on recurring, and 1% on all purchases. However, Neo employs a unique approach to calculating cashback.

Cashback rates fluctuate based on daily spending patterns. By exceeding $10,000 in monthly expenditures, cardholders could earn up to 2% cashback on all other categories.

The card offers a maximum credit limit of $30,000, with secured versions available that require a minimum deposit of $200.

An annual fee of $149 applies, alongside purchase interest rates ranging from 19.99% to 26.99%. 

The advantages of the card’s cashback structure include immediate cashback upon qualifying purchases, eliminating the need to wait until the end of the month, and flexibility in spending the cashback on any desired purchase.

It also gives assurance that cashback retains its value, as it is treated as real money.

For those interested in learning more, continue reading.

Who can Apply?

To be eligible for a Neo card and Everyday accounts, applicants must be legal adults, defined as individuals aged 18 or 19 years, depending on the province, and must be registered citizens of Canada.

The primary qualification criterion for obtaining these benefits is income; specifically, applicants must demonstrate a minimum annual income of $80,000 or a household income of $150,000, with appropriate documentation for verification.

As part of the application process, candidates may be required to submit evidence of both income and residence.

It is important to note that applications are currently being accepted on a waitlist basis, and all requests are contingent upon availability as determined by Neo.

How do I apply for the Neo World Elite Mastercard?

To join the Neo Financial waitlist, visit the official Neo website and locate the “Join the Waitlist” button. 

This will direct you to a registration page where you will be required to input your first name, last name, and email address, followed by clicking “Submit” to complete your initial registration with the bank.

Upon submitting your information, you will receive updates via email regarding your application status.

As part of the application process for the Neo card, you will need to provide comprehensive information, including document numbers, phone number, full address, and proof of income.

Currently, the bank has not released further information regarding specific timelines or steps for issuing the card, as it remains in the waitlist phase.

In due course, Neo will provide additional instructions on how to proceed with obtaining the card. Should you have any inquiries, you are encouraged to reach out to the bank’s customer service.

More Details

The Neo card collaborates with over 10,000 retailers, allowing you to earn up to 5% additional cashback at various participating stores, such as Hudson’s Bay, PetValu, Harry Rosen, Structube, DavidsTea, Pandora, Mr. Lube, Public Mobile, Mucho Burrito, Shell, and Freshii.

According to Neo, this extensive network of partners provides opportunities for enhanced cashback rewards. 

Additional benefits include:

• Extended warranty and purchase protection for stolen or damaged items
• Coverage for damages and theft of rental vehicles
• Comprehensive travel insurance for general public use

Moreover, cardholders will enjoy exclusive World Elite Mastercard benefits on a global scale.

Want to learn another option?

The Secured Neo Mastercard is a credit card option with more favorable conditions, offering no credit check and the opportunity to build credit history securely.

The card also provides a variety of cashback based on spending habits and amounts. Here’s how to apply.

Written by

Gabriel Gonçalves

Writer with over 10 years of experience specializing in finance and education. Master's student in Communication and an expert in online content production.