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Neo Mastercard Secured: Enjoy 0.5% Cashback with No In-Depth Credit Review

The Secured Neo Mastercard is a credit card crafted to help you enhance your credit score while also allowing you to earn cashback rewards.

This card is recognized as one of the finest secured credit cards in Canada, providing both security and dependability. Here’s how you can apply.

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Neo operates as a digital financial firm, leveraging technology to provide services like checking and savings accounts, credit cards, investments, and mortgages. 

When it comes to credit cards, Neo presents the Neo Secured Mastercard as one of the top secured options available in the nation.

This card provides various cashback tiers, rewarding you with 0.5% back on all purchases, while gas stations and grocery stores earn you 2% back.

The platform includes a cashback calculator, helping you track your potential earnings with the card. 

Thanks to its balanced mix of a secured card with cashback options, it has garnered multiple awards as the top card in its category from sources like RatesdotCA, Savvy, and Hardbacen.

This secured card format allows you to set aside funds as a security deposit, starting at just $50. You can then use this for your everyday purchases and settle the balance regularly.

The secured card format allows for a highly customizable credit limit. If you reserve $500 as a security deposit, your credit limit will be $500, and so on. The minimum deposit is $50.

No, the Neo Mastercard does not offer any kind of welcome bonus for new users.

The card has a monthly maintenance fee of $5, totaling $60 annually. Purchase interest rates range from 19.99% to 31.99%, depending on the province.

Neo states that it does not conduct a thorough credit check like other regular credit cards, making it easier for the public to access.

Yes, the entire application process can be completed directly through Neo’s customer service channels, as it is primarily an online service.

Neo sends monthly updates to credit bureaus like Equifax and TransUnion, contributing positively to your credit profile. This is crucial for boosting your credit score and enhancing your chances of qualifying for premium credit cards. 

Furthermore, the Mastercard network is widely recognized globally, simplifying travel and usage without significant limitations.

Another noteworthy advantage of the Neo credit card is guaranteed approval, as its nature bypasses the need for a stringent credit check. 

You can apply for a credit card using your international ID documents, which will be accepted without needing Canadian paperwork.

The Neo Secured offers a smart way to get quick credit with favorable terms, functioning seamlessly wherever you are.

Interested in another choice?

If your credit score is high, consider the SimplyCash Preferred by American Express, which gives up to 4% cashback on gas and groceries.

This card also grants exclusive access to special experiences and events, providing premium perks for Amex users. Here’s how to apply.

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