Neo Financial Credit Card: Why did I choose it?

Each year, I ask my subscribers which financial institutions or brands they are most interested in. Neo Financial received the most responses this time. Since I don’t offer any information on products or services before I have used them, I decided to research their credit cards.

Since the pandemic I have reassessed what credit cards make sense given the current * gestures anywhere* state of the planet. I had, for example, a travel card which became useless. Another credit card collected points but only allowed me to purchase specific items from that financial institution.

I didn’t feel that I had won anything when I swiped my card. It is surprising how hard it is to find a good cashback card in Canada. It was hard to find until Neo Financial.

WHAT IS NEO-FINANCIAL?

Neo Financial Services is a Canadian company that provides credit cards, investment tools and savings accounts. The company is 100% digital. Canadians can use their phones or computers to pay bills, make deposits, send eTransfers, and earn rewards.

They are disrupting the traditional way Canadians spend and manage their money, which is something I really like. They do exactly what I love: they support small Canadian businesses and Canadian brands.

WHY DO I CHOOSE THEIR CARD?

It can be overwhelming to choose a credit card because you have to ensure that it fits your lifestyle.

I always consider the following:

• Can I save money with this card?
• Can I get rewards that I will actually use?
• Is there an annual fee on the credit card?
• What is the current interest rate?

Neo was a yes in all respects. Cashback rewards on the credit card will help me to save money. There are no monthly or annual fees and the interest rates are comparable to those of most financial institutions.

You can earn up to 15% in cashback at their partners. Their partners are also some of the local and Canadian businesses I frequent.

They have partnered with The Keg as well as Well.ca, Cobbs Bakery and many others. The fact that I could get 1% back at some of the grocery stores I frequent was a game changer for my budget and my spending habits.

HOW MUCH CREDIT CARD DO YOU NEED?

Some people say that you should only have one credit card. But for me, I use different cards for specific purchases in order to maximize their rewards. I have five different credit cards but I don’t use them all because of their poor reward point systems. I also haven’t had the opportunity to travel in a while.

For local travel, Neo is partnered with a number of excellent hotels and restaurants, which I am sure I can use for my weekend getaways and family road trips.

I believe it is fair to have more than one credit card as long as:

• You are able to pay them all on time.
• You don’t need to increase your credit limit
• You don’t have a balance on any other credit card
• Use the card for different purchases

Multiple cards help me to compartmentalize purchases, and I can make sure that the rewards offered by lenders are used.

WHAT IS THE NEO SECURE CARD?

The most frequent question I receive from my followers is about which card they should use to build credit , and learn how to manage their debts responsibly. Neo Secured is the best card for most people.

1. All Canadians are guaranteed approval
2. There is no credit check, so your credit score will not be affected.
3. Enjoy 15% off on your first purchase across thousands of brands

How many cashbacks did I earn during a single week?

I researched the Neo credit card to make sure it would work for me and fit my lifestyle. I also wanted to be able get cashback from some of my larger purchases. The cashback was a big selling point for me when I learned that they partnered with Clearly, where I buy my contacts.

After only five days using the Neo Credit Card, I earned $8 cashback for purchasing things that I wanted, irrespective of the reward.

WHERE DO YOU SIGN-UP?

You can spend your cashback in just four simple steps, without ever leaving your home. It only took me 10 minutes to get approved.

1. Create a Neo profile

2. Register for your Ne Card

3. Set your limits with a safety fund

4. Earn up to 15% Cashback on Your Purchases