Starting June 1, 2026, the Neo World Elite® Mastercard will have a new annual fee, updated recurring cashback categories, and a monthly spend cap for the Everywhere card.
Annual fee update
The annual fee is changing from $125 to $149. This change is part of our ongoing investment in card rewards and expanded cashback options for World Elite cardholders.
If your annual fee renews in June (or June or July if you're in Quebec), you'll receive a one-time $24 credit to account for the difference.
Recurring payment categories
For both the Neo World Mastercard® and the Neo World Elite® Mastercard, cashback from recurring payments is now based on the category of purchase (not whether the merchant flags the transaction as a recurring purchase).
Previously, purchases were considered recurring if the transaction was marked as "recurring"—but that flag was set by the merchant, not by Neo. Some providers (including some utility and telecom companies) didn't flag their bills as recurring, which meant customers missed cashback on transactions they'd expect to qualify.
The updated approach uses specific bill categories instead: utilities, telecom, subscriptions, insurance, and gym memberships. If your purchase falls into one of these categories, it qualifies for cashback.
Some transactions that previously qualified may no longer earn cashback under the updated structure. If your total cashback for June (or June and July if you're in Quebec) would have been higher under the old method, we'll top you up to that amount automatically.
The change to cashback from recurring payments applies to these 2 cards:
Neo World Mastercard® – Gas & Grocery (the default Neo World Mastercard®)
Neo World Elite® Mastercard – Gas & Grocery (the default Neo World Elite® Mastercard)
Monthly spending cap for the Neo World Elite® Mastercard – Everywhere
If you have the Neo World Elite® Mastercard – Everywhere, you now earn 2% cashback on up to $4,000 in monthly purchases. Purchases above $4,000 earn 1% cashback.
This cap applies only to the Neo World Elite® Mastercard – Everywhere card. Gas & Grocery and Shop & Dine cards are not affected.
If you exceed $4,000 in purchases during June (or June and July if you're in Quebec), you'll receive a 1% top-up on the portion above the cap.
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