Secured Neo Mastercard: No Deep Credit Check and 0.5% Cashback on all Purchases

The Secured Neo Mastercard is a credit card specially created to assist individuals in enhancing their credit ratings while also enjoying cashback rewards.

Therefore, it is regarded as one of the top secured credit cards available in Canada, providing a high level of security and trustworthiness. Here’s the application process.

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Neo is an innovative fintech firm that leverages cutting-edge technology to provide a wide range of financial services including checking and savings accounts, credit cards, investment opportunities, and mortgage products.

Neo provides the Neo Secured Mastercard as one of the top secured credit cards in the nation.

The card provides various cashback tiers, including 0.5% cash back on all purchases. Gas stations and grocery stores offer a higher cashback rate of 2%.

The platform includes a tool for calculating cashback, which helps you determine the potential earnings with the card.

Thanks to its unique blend of a secured card with cashback, this card has been honored with multiple accolades as the top choice in its category by well-known entities such as RatesdotCA, Savvy, and Hardbacen.

The secured card structure enables you to set aside funds as a security deposit, beginning at $50. Following this, you can use the card for your daily expenses and repay the outstanding amount in scheduled payments.

The format of the secured card enables a great deal of flexibility in setting the credit limit. For instance, if you decide to put down a security deposit of $500, your credit limit will also be $500, and the same principle applies for other amounts. The minimum required deposit stands at $50.

Sorry, but there is no welcome bonus available for new users who sign up for the Neo Mastercard.

The monthly maintenance fee for the card is $5, amounting to $60 per year. Purchase interest rates vary from 19.99% to 31.99%, depending on the province.

Neo contended that it does not perform an in-depth credit check similar to traditional credit cards, thereby simplifying public access.

Certainly, you can finish the complete application procedure conveniently via Neo’s customer service avenues, given that it is predominantly an online service.

Neo regularly provides monthly updates to major credit bureaus such as Equifax and TransUnion in order to enhance your credit history. This step is crucial for boosting your credit rating and increasing your chances of eligibility for premium credit cards.

Additionally, the Mastercard network is broadly recognized on a global scale, facilitating seamless travel and usage without significant limitations.

One significant advantage of the Neo credit card is the assurance of approval, as the Neo Mastercard does not necessitate a rigorous credit assessment.

You have the option to request a credit card by submitting your international identification papers, which will be considered even if you do not have Canadian documents.

Hence, the Neo Secured proves to be an effective option for individuals seeking prompt credit with favorable conditions, seamlessly operating across all areas without imposing notable disruptions in daily routines.

Are you interested in exploring a different choice?

If your credit score is higher, you have the option to choose the SimplyCash Preferred by American Express, which provides up to 4% cash back on purchases made at gas stations and grocery stores.

Furthermore, the card includes special privileges for Amex cardholders, such as access to exclusive experiences and events. Find out below how to submit your application.

SEE HOW TO APPLY