Neo Financial has three personal cash back credit cards in their line up. The Neo World Elite® Mastercard is Neo Financial’s most premium credit card that comes with high cash back earning potential. You can earn upwards of 7% on groceries if you meet Neo Financial’s criteria.

Bonuses & Fees

The Neo World Elite® Mastercard has an annual fee of $125. Currently, this card does not come with a welcome bonus.

Neo Financial does not have an option for supplementary cards at this time.

Earning Rewards

The Neo World Elite® Mastercard earns cash back rewards at the following rates for all card holders:

• 5% cash back per $1 spent on groceries on the first $1,000 each month
• 4% cash back per $1 spent on recurring bills on the first $500 each month
• 3% cash back per $1 spent on gas on the first $1,000 each month
• 1% cash back per $1 spent on everything else on the first $3,300 each month

If you have a Neo Everyday account you’ll get a boost in your earning rate depending on how much you keep in your account. If you have at least $5,000 in your Neo Everyday Account you’ll earn:

• 6% cash back per $1 spent on groceries on the first $1,000 each month
• 4.5% cash back per $1 spent on recurring bills on the first $500 each month
• 3.5% cash back per $1 spent on gas on the first $1,000 each month
• 1% cash back per $1 spent on everything else on the first $3,300 each month

If you have at least $10,000 in your Neo Everyday Account you’ll earn:

• 7% cash back per $1 spent on groceries on the first $1,000 each month
• 5% cash back per $1 spent on recurring bills on the first $500 each month
• 4% cash back per $1 spent on gas on the first $1,000 each month
• 1% cash back per $1 spent on everything else on the first $3,300 each month

Redeeming Rewards

With the Neo World Elite® Mastercard you earn cash back instantly on your purchases. Once earned, your cash back is available immediately in your account. From there you can use the cash back to reduce the balance on your Neo World Elite® Mastercard, add the cash back to your Neo Everyday account, or redeem cash back for merchandise at the Neo Store.

Perks & Benefits

Aside from the elevated earning rates, there aren’t too many benefits that come with the Neo World Elite® Mastercard. You will enjoy standard Mastercard benefits available to all World Elite cardholders, which include World Elite Concierge Service, and discounts with participating partners.

Insurance Coverage

The card offers the following insurance benefits: 

• Travel Emergency Medical Insurance up to $1,000,000 per insurance person up to a maximum age of 60, and for for 14 days.
• Trip Cancellation & Trip Interruption Insurance up to $1,000 per person per trip
• Flight Delay Insurance up to $250 per day to a maximum of $500
• Delayed Baggage and Lost/Damaged Baggage up to $1000 per person per trip for delayed, lost, or damaged bagged
• Hotel and Motel Burglary up to $1,000
• Auto Rental Collision/Loss Damage Insurance up to 48 consecutive days
• Auto Rental Personal Effects Insurance up to $1,000 per person for personal effects that are damaged or lossed in a car rental
• Auto Rental Accidental Death and Dismemberment Insurance up to $100,000
• Purchase Protection Insurance up to $1,000 per item for 90 days from the purchase date
• Extended Warranty Insurance doubling the original warranty to one additional year up to $1,000 per item