The ClearFin bottom line
🚀 Premium Cashback
Its strongest published earn rate in our data is 5.0% on groceries. The $149 annual fee should be weighed against the rewards and benefits you expect to use.
Checked 2026-08-09 · Official issuer catalogueIndependent ClearFin review · Neo Financial
Neo World Elite Mastercard
Start with $0 First-Year Annual Fee + $100 Welcome Bonus.
Independent comparisonFees includedCanadian card data
- Annual fee
- $149
- Reward type
- Cash Back
- Welcome offer
- $249
- Insurance
- Not listed
First year free
Current new-cardmember offer
Confirm with the issuer
$100cash rebate*
🚀 Premium Cashback
🚀 Premium Cashback
Welcome bonus
$0 First-Year Annual Fee + $100 Welcome Bonus
How to earn it
- $0 first-year annual feeFirst-year $149 annual fee waived for new cardholders
- $100 cashback bonusSpend at least $1,500 within the first 3 months of account approval
Offer details
Available to new Neo World Elite Mastercard cardholders. Terms and conditions apply.
How you earn
- 5% cashback on grocery purchases
- 4% cashback on recurring bill payments
- 3% cashback on gas purchases
- 1% cashback on all other purchases
- Earn boosted cashback offers at over 10,000 Neo partner merchants across Canada
Costs and requirements
Fees & eligibility
Confirm final approval criteria and current rates directly with the issuer.
Annual fee$149First year free
Purchase interestConfirmCheck current issuer rate
Cash advance interestConfirmCheck current issuer rate
Foreign transaction fee3%
Income requirement$80,000Issuer approval criteria apply
Additional card$49
Household income$150,000Alternative minimum
Recommended credit score725+ Good to Excellent
The Neo World Elite Mastercard is a premium cashback card with a $149 annual fee and minimum income requirements of $80,000 personal income or $150,000 household income, typically requiring a strong credit profile for approval.
300Poor
560Fair
660Good
725+Very Good
760Excellent
ClearFin estimate on Canada's 300–900 scale. This is not an issuer cutoff or approval guarantee; lenders may use different bureau scores and underwriting criteria. Neo Financial does not publish a minimum credit score requirement. Approval is based on multiple factors including income, credit history, debt obligations, payment history, and overall creditworthiness. Meeting the income requirement alone does not guarantee approval.
Reward limits: Neo does not publish any annual, monthly, or category spending caps on the advertised cashback rates. Cardholders earn 5% cashback on groceries, 4% on recurring bill payments, 3% on gas, and 1% on all other purchases. Cashback offers at over 10,000 Neo partners vary by merchant and promotion. No earning caps are disclosed on the base cashback categories.
Using your rewards
Redemption options
Redemption values and availability may vary by option and can change.
Redeem earned cash rewards using the issuer's available cash-back or statement-credit options.
Minimum redemption amounts, automatic payout timing, and eligible account credits vary by issuer; confirm the current program terms before applying.
Beyond the points
Benefits that come with the card
Consider these extras by the value they add to purchases and experiences you already use.
Purchase Protection Insurance
Coverage against theft or accidental damage on eligible purchases, plus extended warranty protection.
Extended Warranty
Extends the manufacturer's original warranty on eligible purchases.
Mastercard Travel Benefits
Includes premium Mastercard travel benefits and complimentary lounge access membership.
Instant Virtual Card
Start using your card immediately before the physical card arrives.
Mastercard Zero Liability
Protection against unauthorized transactions made with your card.
Real-Time Alerts
Receive instant notifications whenever your card is used.
Advanced Fraud Monitoring
AI-powered fraud monitoring helps detect unusual account activity while protecting your personal information.
Card Management Tools
Freeze your card, view your PIN, track spending, and manage your account through the Neo app.
Show all 11 benefitsShow fewer
Free Neo Membership
Includes a complimentary Neo membership with access to premium features, credit tools, and enhanced savings benefits.
Additional Cardholder
Add an additional cardholder to share account access with a partner or family member.
Auto-Pay
Set up automatic payments to help avoid missed due dates.
Protection included
Insurance at a glance
No included coverage is verified in ClearFin's current catalogue.
Insurance is not currently listed for this product.
This does not prove that coverage is unavailable. Confirm the issuer's current certificate and benefit guide before relying on protection.
Check the official card page ↗The verdict
What we like
- High cashback rates on everyday spending
- Premium travel and purchase protection benefits
- Free Neo membership included
Worth noting
- $149 annual fee
- High income requirement
- 2.5% foreign transaction fee
ClearFin analysis
Our detailed review
A practical reading of where the card earns, what the fee buys, and which limits matter.
🚀 Premium Cashback
5% on groceries, 3% on gas, 4% on recurring payments. 1% on everything else. Variable partner cashback.
How the rewards work
Groceries receive the strongest estimated return at 5.0%. Purchases outside the accelerated categories earn an estimated 1.0%.
What the annual cost means
Using the strongest estimated category return alone, roughly $3,000 in annual spending at that rate would equal the $149 fee before considering the value of insurance, partner benefits, or a welcome offer.
Who it may suit
This card is most relevant for someone who spends consistently on groceries and gas and can use enough of the included value to justify the yearly cost.
What to examine before applying
Compare the purchase interest rate, foreign-transaction fee, approval requirements, reward limits, and insurance certificates. Pay particular attention to merchant-category rules because a store may not receive the reward rate its products appear to suggest.
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Issuer terms apply. ClearFin is not affiliated with this provider. How we make money. Card facts were checked against the issuer's official source. The issuer's current catalogue was checked. Any field not explicitly listed remains marked as unverified rather than estimated.