Secured Neo Mastercard: a Modern Choice for Building Credit for just $5 a Month

The Secured Neo Mastercard is Canada’s top choice for building credit, and it only costs $5 a month to get started life in credit with comfort and security.

It’s ideal for anyone new to credit who wants a smooth, easy option, and get this is super simple. So, now, see how to apply.

SEE HOW TO APPLY

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Neo, a fully digital financial institution, brings a range of tech-driven services like checking accounts, savings accounts, credit cards, investments, and mortgages.

Their Neo Secured Mastercard is among the best secured cards around, with cashback perks that give you 0.5% back on all purchases and up to 4% back at gas stations and grocery stores, based on how much you spend.

The more you use it for everyday purchases, the more cashback you earn. And it brings to you the comfort to create benefits as you want.

With a perfect mix of security and rewards, this card has won multiple awards, including nods from RatesdotCA, Savvy, and Hardbacen as the best in its class.

The Neo card isn’t your typical credit card—it’s more like a smart debit system, where you add funds to your Neo account to use it.

Keep in mind, though, that there’s no sign-up bonus for new users. It is because the card is focused on credit reports and not on benefits.

Good news? No monthly or annual fees, and you won’t be hit with high transfer fees or interest since it’s not a credit-based card.

Getting the Neo Money card is pretty straightforward, with minimal requirements.

Yes, you can take it online because Neo is all about digital banking; you can apply easily online.

As a secured card, you’ll make a small deposit starting at $50, which becomes your spending limit. You can use this for everyday expenses and pay off the balance monthly.

Neo also reports to credit bureaus like Equifax and TransUnion every month, so it’s a great way to build your credit profile. In this way, it is possible to plan to create good conditions along the years.

Accepted worldwide, the Mastercard network makes it a solid travel companion too, with no big limitations. And everything with security to use contactless and wallets as Google and Apple Pay.

Another major perk? Guaranteed approval. The Neo Mastercard skips the credit check, so you can apply with international ID—no Canadian documents required.

Want to learn another option?

Already have credit and looking for a stronger card? Check out the TD Aeroplan Visa Infinite, offering up to $1,300 in value with TD Rewards points.

This card is travel-focused, with a robust points program for redeeming flights, including with Air Canada. Take a look at how to apply.

SEE HOW TO APPLY