Cash back$119.88/yrNeo Financial · Mastercard

Neo Secured Mastercard

Building credit when you can't get approved elsewhere: approval guaranteed on four conditions, if you post security funds

Welcome offer now

No welcome bonus.

Checked on Neo's own page October 21, 2026. See Neo's page

What it earns in a year

−$120 back a year

After the $120 annual fee.

Based on $30,000 a year of spending ($9,600 groceries, $3,000 gas, $3,000 dining…). Welcome offer not included.

Security funds required: $50 to $10,000, in $50 steps
Build membership required: $9.99 a month
Not if you opened a secured Neo card in the last 3 months, or had a past Neo delinquency, charge-off or fraud closure

Check you qualify No minimum income listed. 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 →

The real cost: $0 card fee, but the Build membership is required: $9.99 a month = $119.88 a year
Security funds: $50 to $10,000 in $50 steps; your limit equals the funds. Neo keeps any interest the funds earn
Spending: put one or two small bills on it and pay in full every month. Interest is 19.99%–29.99%
Getting out: you can't drop the membership and keep the card. You either close the account (funds come back once the balance is paid) or apply to switch to a regular card (hard credit check)
Rewards: none on regular spending, only Neo partner offers
Example: $500 of security funds costs about $15 a year in interest you could earn elsewhere at 3%. Add $119.88 of membership = about $135 a year to hold the card, with nothing earned back

None. Build is free only with the Neo World Elite, whose secured version needs at least $200 of security funds and costs $149 a year
Accounts opened before October 20, 2025 may still pay the old $5 a month instead

From neofinancial.com/credit-cards/neo-mastercard, checked October 17, 2026. Not an affiliate link.

Approval guaranteed if you are of age, a Canadian resident, post security funds and pass Neo's credit policy
No minimum income
Reports to Equifax and TransUnion
Build adds TransUnion credit-score monitoring and a credit-builder tool
Add security funds any time to raise the limit, up to $10,000
A regular Mastercard, not a prepaid card

$119.88 a year in membership fees ($179.88 if you choose Grow)
No cash back on regular spending
Security funds are not a deposit: not CDIC-insured, and Neo keeps the interest
You can't lower the security funds; they come back only when you pay off and close (or upgrade)
No insurance and no welcome bonus
3% on foreign-currency purchases
Capital One's Guaranteed Secured Mastercard does the same job with no annual or monthly fee

Maximums as Neo lists them. Conditions apply; the insurance certificate decides claims.

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 (same Neo Mastercard page). Refundable security funds + Build membership $9.99/month	$0 card fee + mandatory Build membership $9.99/mo ($119.88/yr)	n/a
October 17, 2026	None advertisedFirst capture. Security funds $50-$10,000	$0 card fee + mandatory Build membership $9.99/mo ($119.88/yr)	n/a

General information, not financial advice. Offers change; confirm on Neo's page before you apply.