Neo Financial Launches a Menu of Perks

Back in 2021, the Neo Card™ launched to much fanfare. A millennial- and Gen Z-focused cash back card, it features a slick app, even slicker marketing, and the promise of excellent rewards delivered just the way you want them.

Now, Neo Financial has launched a bevy of new products with a menu of multiple pre-made offerings, as well as the option to select “perks” à la carte. These perks are designed to live up to the promise of delivering customized rewards tailored to the consumer’s choice.

Let’s take a look at how much the Neo family has expanded, and what value there may be for you to extract from it.

Stack Perks that Reward Your Spending

Despite being one of the youngest members of the Canadian financial community, Neo has come out of the gate punching. Not only did it launch its signature no-fee cash back credit card in 2021, but it replaced Capital One as the credit card issuer for Hudson’s Bay Company co-branded cards shortly thereafter.

The stylistic choices of Neo certainly remind me of a would-be “disruptor” – though as the official partner of HBC, a company which has been in continuous operation since the time of King Charles II, it is hard to imagine an older business fogey.

Still, it’s clear Neo wants to shake up the Canadian credit card space, and with this launch of perks, they’re hoping to do just that by allowing customers to pick and choose from a menu of benefits at a defined monthly rate. The subscription model comes to another industry!

Neo perks allow consumers to order specific credit card benefits à la carte on a monthly subscription basis.

Perks can be purchased at a monthly rate and cancelled at any time. Interestingly, perks bundles will last to the end of any given month, but if cancelled mid-month, cardholders will be charged at a prorated fee dated back to the date of cancellation.

You can stack as many perks as you want, though there are no discounts for purchasing or maintaining more than one at a time.

The available perks are as follows:

• Premium Access includes a dedicated customer service line, extended warranty, and purchase protection for $0.99 per month.
• Travel has 2% cash back on transactions outside Canada and travel insurance for $4.99 per month.
• Everyday Essentials gives you a gas & grocery multiplier option for $8.99 per month.
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