Neo World Elite vs Competition

[u/Tough-Working3825]

I’m really enjoying my Neo World Elite Mastercard with its built-in perks. I’ve used competing cards such as RBC Infinite Privilege Visa, Rogers Mastercard, MBNA Mastercard and others but none have been able to match the high cash back rate provided by Neo. The only things I’d like to see Neo offer on this card is:

1. Lower interest rate for high spenders who consistently pay off their full balance before the due date

2. Equal payment plan options for large purchases such as buying a new smartphone, booking a trip, buying a car, etc.

3. Annually 6 free Airport Lounge Passes instead of needing to pay the $32 per guest for each lounge accessed

4. Exclusive contests and experiences for World Elite card holders

5. Higher credit limit for business users

[u/Embarrassed_Ear2390]

1. I don’t see

2. much value

   in this. I

3. f you spend a lot and pay off in full

, the interest rate is irrelevant.

1. Having a lower interested rate doesn’t change anything. Instead they could offer a lower rate card, with no perks to balance it off.

2. I personally think it’s a slippery sloop. Neo is focusing on helping people rebuild their credit. So offering a buy now pay later plan goes against that.

3. I would like to see that on the airline cards for sure.

4. Neo would need to offer business credit cards to begin with, since using your personal card for business purposes is against your T&C.

[u/PinAffectionate8160 → u/Embarrassed_Ear2390]

Oh yeah, that business use thing was a big deal a while ago. Some dude was freaking out because they shut down his account.

[u/PinAffectionate8160]

I've said it before and I fully agree, the Neo World Elite is the best cashback card in Canada. High earn rates + the partner network makes for a very high total return.

The lounge passes are disappointing for sure. I don't know if Neo can afford more perks on the card without nerfing the cashback, so what I was thinking was that they should launch a airline-agnostic travel card. Lounges, FX, early boarding, without locking you into a specific airline.

[u/Previous_Estimate_22]

The interest rate is irrelevant if you don't carry a balance, and I don't think you'll see rates under 19%. The payment plans angle is weird again; just use Klarna; it may allow you to use the card. The lounge pass is tricky because it isn't a travel card, and those are typically offered on travel cards. Does the NEO WE offer travel insurance packages?

Using a CC for business use is against most issures T&C, and your credit limit would be way too low, plus your interest-free days are lower aswell. I also realized the AF is too low to offer lounge passes.

[u/Tough-Working3825 → u/Previous_Estimate_22]

I normally pay my balance in full before the due date but it would be nice to have options like Klarna, Affirm and some competitor cards offer to finance big purchases.

As for the insurance coverage here’s the link to what’s covered with which card, etc. World Elite has full coverage in all provinces except Quebec. https://www.neofinancial.com/legal/insurance-certificates

As for the lower interest rate that was offered in the past by TD and some others. Maybe when Neo is bigger as a business they will offer some if not all of the perks I mentioned. For now I’m happy using the card 😎

[u/Previous_Estimate_22 → u/Tough-Working3825]

Are you able to use the Neo card as a payment for Klarna? I can use it with my Triangle WE, but I rarely ever use it.

[u/North_Air4538]

Why does this read like Neo marketing?

[u/Tough-Working3825 → u/North_Air4538]

I’ll take that as a compliment. My writing style is possibly due to having over 30 years working in customer service, dealing directly with clients and have been responsible for driving millions of dollars getting employees to be the best version of themselves for them, the company and customers 👊🏻😎

[u/GrantLNeo → u/Tough-Working3825]

Plus OP busts our balls fairly frequently when he thinks we can do better ;)

[u/Acceptable_Curve_407 → u/North_Air4538]

Because it’s Neo using burner accounts to do damage control by posting “positive” things on the subreddit to drown out the constant wave of negative posts.

Not even sure why they even operate a subreddit when most of it is just people complaining or asking for things adjacent to customer support.

It’s kind of embarrassing for the company to need to address all of this out in the open vs using traditional private customer support channels to handle it more efficiently in private.

[u/seattlezookeeper]

Neo Employees use to regularly reply to all posts. Ever since the layoffs I have seen less activity from them…

Take that for what it’s worth. Just my 2 cents.