Neo Travel Review



Annual Fee


Annual Rewards


Intro Offer


Annual fee


Annual rewards


Intro offer


  • No annual fee
  • 1.5% cashback on foreign currency transactions
  • Earn up to 1% cashback on all other purchases
  • Instant rewards redemption
  • No foreign transaction fees
  • Mobile app management and budgeting tools
  • Partner discounts and offers


  • Not widely accepted as a standalone card
  • Lower cashback rate compared to competitive travel cards
  • No sign-up bonus
  • Limited insurance coverage
  • Lacks premium benefits and perks
  • No option for balance transfer or promotional interest rates

Performance test results

At DollarWise, for each credit card we test 7 different factors including the rewards, value for money, perks, insurance, strengths and weaknesses of the card.

You can see our full testing methodology here to learn why we’re the most trusted source for credit card reviews.

The Neo Travel has earned a 3.20 DollarWise Rating out of 5. This score is based on a weighted average of the two highest scoring factors (excluding acceptance and approval).




Interest rates




The highest scoring categories for the Neo Travel are insurance and interest.

These factors are weighted 70% to the highest scoring factor and 30% to the second highest score to get an overall review score.

This weighting allows us to judge cards on their merits and the customers they are designed for.

For the Neo Travel the most important factors for scoring this card are its insurance and interest.


With the Neo Travel, here’s the rates at which you earn rewards for different spending categories per dollar you spend:

Specific Stores5%
All Other Spend1%

Calculating your annual rewards

We estimate that spending $2,000 per month with the Neo Travel would earn $288 in rewards over the year.

Our performance testing research uses an accurate estimation of the average Canadian households spending patterns to predict the rewards a card will earn.

We found that you’d earn this per category:

Specific Stores$60
All Other Spend$228

Our study investigating the value found that each dollar spent on the Neo Travel is worth up to $0.00, depending on how you redeem.

This $288 in rewards value puts the Neo Travel in the bottom 50% of credit cards in Canada based on rewards earned.

The average credit card in our database earns $337 in rewards for the same spend that the Neo Travel earns $288 in rewards value.

We can compare this card to other options by looking at the earn rate by category.

This earn rate is the percentage return that you would get when you spend on this card, assuming you redeem at the predicted maximum value.

For example, if a card earned 5 points per dollar on gas and each point is worth up to $0.02, then the earn rate is 5 points multiplied by $0.02 each, divided by the dollar you spent.

In this example, that’s a 10% earn rate on gas.

SpendThis CardAverage
Above, we’ve calculated the earn rate for the Neo Travel for every spend category and compared it to the average for all Canadian credit cards.

For an annual spend of $24,000, we estimated annual rewards value at up to $288.

That’s equivalent to a 1.20% return on spending.

The Neo Travel has an annual fee of $60. After deducting this, we predicted net annual rewards of $228.

This puts it in the bottom 40% of credit cards for net rewards after fees.

In comparison, the average card earns net annual rewards of $254.


The Neo Travel has a $60 annual fee.

The average card charges $85. So, the Neo Travel is in the top 50% of cards based on the cost of the annual fee.


We manually review the perks of each credit card to determine how they compare to other cards.

The Neo Travel scored a 0.9 out of 5 for perks, putting it in the bottom 30% of cards.

The average card scores 1.6 out of 5 for perks.

Interest Rates

Cash Advance22.99%
Balance Transfer22.99%

The average (median) credit card has a purchase interest rate of 19.99% and so the Neo Travel charges {{purchase_interest_diff}} than the average.

For cash advances it costs 22.99% compared to the average of 19.96%.

Testing the Neo Travel with a $2,000 starting balance, you can see in the graph how the {{purchase_interest_diff}} in interest rates impacts the interest over a year, compared to the average card.

Insurance coverage

InsuranceThis CardAverage
Travel Accident$100,000$500,000
Emergency Medical Term15 days15 days
Trip Cancellation$1,500$1,500
Flight Delay$500$500
Rental Car Theft & DamageYesNo

We scored it 3.5 out of 5 for insurance.

It offers 5 types of insurance, whereas the average card has 5 types of coverage.

Approval and qualifying

Do I qualify?
Estimated Credit Score560 – 659
Personal Income$0
Household Income$0
Annual Fee$60
Extra Card Fee$0
Card typeMasterCard

We scored it 3.5 out of 5 for approval.

We predict that you will require a credit score of at least 560 to qualify for the Neo Travel, while the average card requires 652 to qualify.

This puts it in the top bottom 30% of cards by approval difficulty.

The personal income requirements are $0, while the average card requires $23,896.

This puts it in the top 50% of cards by the income required to qualify.

The Neo Travel credit card offers a flexible rewards system geared towards frequent travellers looking to earn points on a variety of purchases.

In this review, we will discuss the earning potential of the card, outline four of its benefits, highlight two drawbacks, and provide any additional information that can be helpful for potential users.

Earning potential 

The Neo Travel credit card earns points on all purchases made using the card. Points accumulated can be converted into cash back, hotel stays, flight bookings, or merchandise through Neo’s rewards portal. The card offers a tiered rewards system with varying reward rates for different categories of spending:

  • Dining: 3% cash back
  • Travel: 2% cash back
  • Grocery: 1% cash back


  1. Cash back: One of the major advantages of the Neo Travel credit card is its competitive rewards structure. The card offers higher cash back rates for dining and travel, making it an excellent option for those who enjoy travelling and dining out.
  2. Annual fee:  Another advantage is the absence of an annual fee, which makes it an excellent choice for individuals who don’t want to pay an annual fee. This can be especially beneficial when you compare the card to similar options with higher fees but comparable rewards benefits.
  3. Neo app: The integration with the Neo app adds an extra layer of convenience. Users can easily manage their accounts, monitor spending, and redeem rewards through the app. This streamlined experience makes it easier for users to take full advantage of the card’s benefits.
  4. Travel insurance and rental car discounts:  The Neo Travel credit card comes with a variety of additional perks, including travel insurance and rental car discounts. Travel accident insurance, baggage delay coverage, trip interruption coverage, and roadside assistance are just a few examples of the valuable benefits offered by this card.


  1. Drawback: One potential drawback of the Neo Travel credit card is the low cash back rate on general purchases. If a significant portion of your spending is outside the travel, dining, and grocery categories, you may not optimize your rewards potential.
  2. Drawback: Another drawback is the limited acceptance of the card. As a newer entrant to the market, the card is not yet as widely accepted as more established networks like Visa and MasterCard. As a result, potential users should consider if the card will be accepted by their most frequently visited merchants.

Additional information

In conclusion, the Neo Travel credit card can be a great option for individuals who prioritize rewards connected to travel and dining. With competitive rewards rates, no annual fee, and additional perks such as travel insurance, the card offers good value for travellers.

However, the limited acceptance of the card and lower general rewards rate may not be suitable for all consumers. Make sure to evaluate your spending habits and travel preferences to determine if this card is the right choice for you.

Interested in other credit cards? Canadians that like the Neo Travel credit card also like the NEO Everyday Essentials. If you’re looking for other options you should consider the Neo Credit, and the NEO Premium Access.


With the Neo Travel credit card, you can redeem your points for a variety of rewards, including:

  • Travel – Use your points towards flights, hotels, car rentals, cruises, and vacation packages through the Neo Rewards platform.
  • Merchandise – Redeem your points for a wide selection of popular merchandise from electronics, home goods, fashion to sports equipment, available in the Neo Rewards catalog.
  • Gift Cards – Choose from an extensive collection of gift cards for various retailers and restaurants, allowing you to treat yourself or a loved one to a shopping or dining experience.
  • Event Tickets – Use your points to attend concerts, sports events, or theatre performances, offering access to various entertainment experiences.
  • Charitable Donations – Contribute your points to help support selected charities and assist those in need.

The Neo Travel credit card offers a great advantage when it comes to foreign transaction fees, as it does not charge any fee for purchases made in foreign currencies.

This makes it a suitable choice for travelers who frequently make purchases in different currencies, helping cardholders save on additional costs that usually accompany international transactions.

The Neo Travel credit card does not have a minimum income requirement. This makes it accessible to a wider range of cardholders, regardless of their income level.

Key benefits

  • Zero annual fee
  • Unlimited 1% cashback on every eligible transaction
  • 5% cashback on bonus categories for specific spending
  • Free supplementary card for a family member
  • Customizable due date for monthly payment flexibility
  • Identity theft protection services
  • Complimentary access to airport lounges worldwide

About The Author