Neo Financial has revealed that it is expanding its offerings with the launch of four new credit cards.
The largest product expansion in the Calgary fintech’s history gives users more choices than ever when it comes to spending rewards, according to a statement from the firm.
Neo now offers more options than ever, and cardholders can switch their rewards category every 90 days.
“How you spend today is not necessarily how you’ll spend in two years,” explains Jeff Adamson, co-founder of Neo Financial.
Adamson posits that “Most of the complexity in Canadian rewards programs benefits the bank, not the customer.”
In contrast, “These new cards work the other way,” he says.
“Canadians can pick the rewards structure that fits how they spend, and have the freedom to change it every 90 days,” the entrepreneur remarked.
Moreover, “Every card is available as a secured card, so a credit history doesn’t determine rewards.”
And “As you spend and build credit, Neo will make recommendations on when you could earn more cashback,” according to Adamson, who says: “Rewards should flex to fit your life, and so should the path to getting them.”
Neo added a “Shop & Dine” card and a “World” card at both the zero-fee level and the Neo World Elite tier, which charges a $149 annual fee.
The cards include access to Neo’s partner rewards network of over 10,000 merchants, where cardholders earn an average of 5% cashback on top of base card rewards.
Founded in 2019, Neo Financial has raised more than $650 million in funding and has been recognized as Canada’s top-growing company by The Globe and Mail and Deloitte.
Neo Financial serves over one million customers.
Leave a Reply