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Neo Financial Mastercard actual cashback
April 3, 2021
12:47 pm
Alexandre
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For people curious what actual cashback to expect from Neo Mastercard, this is what I have found when I searched my area in Ontario, away from Toronto.

Grocery, major chain stores: 1%
Walmart: 1%
Costco: 1%
Shoppers Drug Mart: 1%
Gas stations from major brands: 1%
Canadian Tire: 3%
Dollarama: 3%

Home Depot, Lowes, Rona: N/A

Small restaurants: varies, usually up to 3%.

When I expand my search really wide to cover Toronto, I can find restaurants there offering impressive 9% cashback, with some as generous as 17% cashback for first visit.

April 3, 2021
7:14 pm
Adam1
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It's a great card for restaurants. The 3% at dollarama doesn't seem to be beat by any credit card I know of (aside from welcome bonus promotions). I saw one at Best Buy for 2% which is quite good as well. Just be wary of in-store and online when you want to use an offer. The Best Buy one was in-store only. Also that there are limits on how much cash back you can earn from most offers. One of the offers I found for 17% was limited to $5 cash back, so just under $30 spent. Some of them are also one-time use so you'll get extra cash back on your first purchase at that store and then a lower amount for future purchases.

I'm still confused on how redemption works though, like how much you need to accumulate first, or if it's credited to your statement automatically, if it can be deposited into neo savings account, etc.

I was impressed with the quick application process. It was approved instantly with a limit before the hard credit check. Once I accepted the agreement, I had instant access to the card through Google Pay using a temporary "virtual" card while waiting for the physical card to be mailed. Stack is the only other one I know that does this, but that's not even a credit card.

Adam

April 4, 2021
7:26 am
Alexandre
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Actually, just found I have missed big one.

Amazon: 3%
Any purchase online, up to $50 back
(hopefully, that means per each purchase)

Also, I see BestBuy at 3%, online, for up to $50 cashback.

Amazon-Online-Neo-Cashback.jpgBest-Buy-Online-Neo-Cashback.jpg

April 4, 2021
1:49 pm
Alexandre
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3% cashback at Amazon confirmed: for $30 Amazon order charged to Neo Mastercard got 90 cents cashback.

This will be my new favorite card for Amazon online shopping.

-----

If you are a person who checks forum posts time stamps, yes: it took just 6 hours between me noticing Amazon offer, applying for Neo Mastercard, getting approved, having credit card number and expiration date appear in Neo app, setting new card as default payment method in my Amazon account, placing an order at Amazon, getting charged, and observing cashback in Neo app.

April 4, 2021
6:38 pm
Adam1
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Alexandre said
If you are a person who checks forum posts time stamps, yes: it took just 6 hours between me noticing Amazon offer, applying for Neo Mastercard, getting approved, having credit card number and expiration date appear in Neo app, setting new card as default payment method in my Amazon account, placing an order at Amazon, getting charged, and observing cashback in Neo app.  

Did you receive your cash back instantly after the online transaction was authorized? I'm thinking there is a possible delay depending on the offer.

I made a few in-store purchases yesterday with Google Pay (nice to have that before the actual card arrives) and all eligible for 3% cash back. I didn't get any of the cash back until now, roughly a day and a few hours later.

Adam

April 5, 2021
12:27 am
smayer97
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Alexandre said
3% cashback at Amazon confirmed: for $30 Amazon order charged to Neo Mastercard got 90 cents cashback.

This will be my new favorite card for Amazon online shopping.
  

WOW! Better than Amazon's own MC via World Elite MBNA that I just received. Sad...

April 5, 2021
4:46 am
Alexandre
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Adam1 said
Did you receive your cash back instantly after the online transaction was authorized? I'm thinking there is a possible delay depending on the offer.

I can see amount of cashback listed right under the pending transaction and in Rewards balance.

The charge is still pending, because Amazon hasn't shipped my order yet. I am assuming cashback will be available when card is actually charged, which usually takes 1-2 business days.

April 5, 2021
5:24 am
savemoresaveoften
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Alexandre said

Adam1 said
Did you receive your cash back instantly after the online transaction was authorized? I'm thinking there is a possible delay depending on the offer.

I can see amount of cashback listed right under the pending transaction and in Rewards balance.

The charge is still pending, because Amazon hasn't shipped my order yet. I am assuming cashback will be available when card is actually charged, which usually takes 1-2 business days.  

Is there a limit for the year like the $50 mentioned etc ? I assume that is the catch, not $50 per transaction ?

April 8, 2021
8:48 am
Alexandre
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savemoresaveoften said

Is there a limit for the year like the $50 mentioned etc ? I assume that is the catch, not $50 per transaction ?  

Neo Mastercard does not have annual cashback limits.

I have made already two separate small purchases from Amazon, both got 3% cashback - so it is not one time thing either.

I am assuming it is up to $50 per order, which is sweet deal.

April 8, 2021
9:42 pm
Adam1
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The limits shown are for cash back earned. So if it's 3% up to $50 for Amazon that would be over $1500 spent...crazy that they can give that amount of cash back with no item category restrictions.

One of my recent purchases was 3% up to $15 and I spent about $38 and got the full 3% cash back.

Adam

April 10, 2021
10:05 pm
Peter
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I don't have the card, but am able to browse the offers in their app. This is what it says for the Amazon offer, which appears to be the same wording used for other offers:

How it Works

1. Visit Amazon online.
2. Make a purchase with your Mastercard. Spend any amount to quality.
3. Receive your 3% cashback reward after your purchase. Rewards may take up to 24 hours to process.

Terms and Conditions

All conditions and rewards are assessed in Canadian Dollars. One-time use offer applied to a single transaction, only valid at locations where the offer is shown and when the offer is visible on the Neo Platform. Offer does not apply if purchased occurred through a third party service such as food delivery or other purchase facilitator. Where applicable, qualifying purchase must be at or over the qualifying amount advertised in the offer to be eligible for the reward. Where applicable, percentage off will be applied to the final purchase price up to the dollar limit indicated. Offer subject to the Reward Program Supplemental Terms and Conditions.

You can see how the terms could work both for "first purchase only" or "every time" -- the latter being what people are reporting!

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