Neo World Elite Mastercard
Category cardWhat the roles mean
- Groceries: 5% cash back, up to $1,000 a month, plus 4% on recurring bills and 3% on gas (Gas & Grocery plan)
What it earns in a year
$703 back a year
After the $149 annual fee.
Based on $30,000 a year of spending ($9,600 groceries, $3,000 gas, $3,000 dining…). Welcome offer not included.
Try it with your own spending →
- Groceries (First $1,000 a month, then 1%): 5% back.
- Bills & subscriptions (First $500 a month, then 1%): 4% back.
- Gas / EV (First $1,000 a month, then 1%): 3% back.
- Everything else: 1% back.
Highlighted = use this card here.
How to apply for the Neo World Elite Mastercard
- Check you qualify Income: $80,000 personal or $150,000 household. You need to live in Canada and be the age of majority in your province.
- Have this ready Your address and how long you've lived there, your employer and yearly income, and your monthly rent or mortgage. Your SIN is optional for a credit card; you can leave it blank.
- Expect a credit check Applying adds a hard inquiry to your credit report, which lowers your score a little for a few months. Space applications about 90 days apart.
- Apply on Neo's own site Apply online from the bank's product page. This isn't an affiliate link: we earn nothing if you apply.Apply on Neo's site →
How to use it
- Pick the Gas & Grocery plan at sign-up. You can switch plans every 90 days
- Groceries: every grocery run, up to $1,000 a month. Costco and Walmart don't count as grocery stores
- Bills: phone, internet, cable, utilities, streaming and subscriptions, insurance, gym, up to $500 a month
- Gas and EV charging: up to $1,000 a month at 3%
- Rent through Chexy: expect 1%, not 4% — bills are a fixed list of merchant codes since June 1, 2026
- Everything else, and travel abroad: use another card. This one pays 1% and charges 3% on foreign currency
- Example: $800/month groceries + $300/month bills + $250/month gas = $714 a year back, $565 after the $149 fee
Posts about this card
Key facts
- Annual fee
- $149
- Purchase interest
- 19.99%
- Foreign currency fee
- 3%
- Min. personal income
- $80,000
- Min. household income
- $150,000
- Rewards
- Cash back
Annual fee waiver
- None
From neofinancial.com product page, checked October 17, 2026. Not an affiliate link.
More Neo cards
Best paired with
Rogers Red World Elite
- This card: groceries, gas / ev, bills & subscriptions
- Rogers Red World Elite: dining & restaurants, travel, transit, drugstore / pharmacy, entertainment, everything else
- Together: $841 a year after both fees, vs $703 with this card alone
- Rogers pays 2% with an active Rogers, Fido or Shaw service, 1.5% without
Computed on our standard household ($30,000 a year): each kind of spending goes to whichever card pays more, both fees taken off. Partners are everyday, category and churning cards on Visa or Mastercard. Points at their simplest redemption. Welcome offers not included.
Pros
- 5% on groceries, 4% on recurring bills, 3% on gas and EV charging
- Caps are monthly and reset every month
- Higher rates if you keep money in a Neo Chequing or Neo Everyday account ("boost levels"); Neo shows the boosted rates only in the app
- Switch plans every 90 days: Shop & Dine (5% food and drink, 3% shopping) or Everywhere (2% on all spending up to $4,000 a month)
- Cash back lands instantly; redeem any time, no minimum, no expiry, including to your Neo account as spendable cash
- A Neo membership included at no cost (Build, worth $9.99 a month)
- A secured version with the same rates, from $200 of security funds
Cons
- $149 a year, not waived in year one (+ $49 per additional card)
- Over a cap, that category earns 1% for the rest of the month
- 1% on everything outside your plan's categories
- Bills earn 4% only on Neo's fixed list of merchant codes: no rent, no tax
- 3% on foreign-currency purchases (Neo's Memberships page says 2.75%; we use 3% until Neo settles it)
- No welcome bonus
- Travel medical only if you are under 60, and only for the first 14 days of a trip
- Needs $80,000 personal or $150,000 household income
Insurance included
- Travel medical: $1 million, under 60 only, first 14 days of a trip
- Trip cancellation: $1,000 per person, $5,000 per trip
- Trip interruption: $1,000 per person, $5,000 per trip
- Flight delay: $250 a day, up to $500, after 4 hours
- Delayed and lost bags: $1,000 in total for both
- Hotel burglary: $1,000
- Rental car damage: up to 48 days, cars up to $65,000 MSRP; decline the agency's cover
- Rental car accident: $100,000 accidental death and dismemberment
- Rental car belongings: $1,000 per person
- Purchases: 90 days of theft/damage cover, $1,000 per claim, $10,000 per account across all your Neo cards; +1 year warranty
- Quebec residents: rental car damage is the only travel cover
Maximums as Neo lists them. Conditions apply; the insurance certificate decides claims.
Perks
- Build membership: included at no cost (credit-score monitoring, credit-builder tool). Neo's help centre says any membership is included, which would add Grow's foreign-fee rebate; not confirmed
- Mastercard Travel Pass: free lounge membership; each visit costs about US$32
- Partner offers: extra cash back at Neo partner stores, up to 15% (varies, not guaranteed)
- Virtual cards and app spend controls; Apple Pay and Google Pay
Other cards for groceries
Back a year on $9,600 of groceries, caps included. Points at best-case value. Before annual fees.
| Card | Earns on groceries | Back a year | Annual fee | Terms checked |
|---|---|---|---|---|
| Amex Cobalt | 5× points≈ 10.0% in value | $960 | $192 | October 21, 2026 |
| Scotiabank Gold Amex | 6× points | $576 | $120 | November 2, 2026 |
| Neo World Elite Mastercard | 5% back | $480 | $149 | October 21, 2026 |
| National Bank World Elite Mastercard | 5× points | $480 | $150 | October 21, 2026 |
| Desjardins Cash Back World Elite Mastercard | 4% back | $384 | $100 | October 23, 2026 |
| SimplyCash Preferred | 4% back | $384 | $120 | October 21, 2026 |
Other cards for bills & subscriptions
Back a year on $3,600 of bills & subscriptions, caps included. Points at best-case value. Before annual fees.
| Card | Earns on bills & subscriptions | Back a year | Annual fee | Terms checked |
|---|---|---|---|---|
| Scotia Momentum Visa Infinite | 4% back | $144 | $120 | November 2, 2026 |
| Neo World Elite Mastercard | 4% back | $144 | $149 | October 21, 2026 |
| Rogers Red World Elite | 2% back≈ 3.0% in value | $108 | $0 | October 21, 2026 |
| TD Cash Back Visa Infinite | 3% back | $108 | $139 | October 21, 2026 |
| Rogers Red World Legend | 2% back≈ 3.0% in value | $108 | $495 | October 23, 2026 |
| Marriott Bonvoy American Express | 2× points≈ 2.8% in value | $101 | $120 | October 21, 2026 |
How the offer has changed
One row per check of Neo's page, newest first. Old rows are never edited.
| Checked | Welcome offer | Fee, year one | Ends |
|---|---|---|---|
| October 21, 2026 | None advertisedUnchanged. 5% grocery / 4% recurring / 3% gas, 1% else; $80k/$150k income; 19.99%–29.99% (QC 19.99%–25.24%) | $149, not rebated yr 1 (+ $49 per additional card) | n/a |
| October 17, 2026 | None advertisedUnchanged. Quebec purchase APR shown as 19.99%-25.24% | $149, not rebated yr 1 (+ $49 per additional card) | n/a |
General information, not financial advice. Offers change; confirm on Neo's page before you apply.