For the latest fees, view the Cardholder Disclosure Statement, Rate & Fee Schedule. All credit cards will incur interest fees if the full statement balance isn’t paid by the payment due date.
Annual fees for the Neo credit cards
Here are the annual fees for Neo credit cards:
- Neo Credit card (standard credit): $0 annual fee
- Neo Credit card (secured credit): $5 monthly fee
- Hudson's Bay Mastercard (standard credit): $0
- Hudson's Bay Mastercard (secured credit): $5 monthly fee
- Neo World Elite® Mastercard (standard and secured credit): $149 annual fee
- Cathay World Elite® Mastercard (standard and secured credit): $180 annual fee
Fees for the secured credit cards
The Secured Neo Credit card has a monthly fee of $5. Starting November 1, 2024, the Secured Hudson's Bay Mastercard will also have a $5 monthly fee. The fee will automatically be applied to your credit account on every statement date.
No monthly fee for the standard Neo Credit card, Secured Neo World Elite® Mastercard, or Secured Cathay World Elite® Mastercard.
Interest fees on your credit cards
Your Annual Percentage Rate (APR) is used to determine your interest fees. There are two types of APRs for credit cards:
- Purchase APR
- Cash advance APR
Go to the account details in your credit account to view the APRs for your credit card.
You’ll incur interest fees if you:
- Don’t pay the full statement balance before the payment due date
- Withdraw cash from an ATM using your credit card
For cash advances, interest fees begin accruing from the day you withdraw cash from an ATM using your credit card.
If you don't pay your statement balance in full before the payment due date, you'll be charged an interest fee in the next statement for the entire previous statement balance.
Interest fees for purchases
You must pay the full statement balance to avoid incurring interest fees. However, if the full statement balance isn’t paid before the payment due date, you’ll incur interest fees in the next statement for the entire previous statement balance.
Payment for the full statement balance must show up on your credit account on or before the payment due date to avoid incurring the interest fees.
View the due dates for all credit card payments in your credit account. Find the payment due date on your credit statement under the Payments section. Get a step-by-step guide to view your credit statement.
Plan your payment in advance. Payments made during the weekend or statutory holidays may take longer to show up on your credit account.
Set up an Auto-Pay to automate payments to your credit account from your Neo Everyday account. Payments from the Neo Everyday account to your credit account are instant.
Interest fees for cash advances
You begin to accumulate interest fees from the day you withdraw cash from an ATM using your credit card until the total balance is paid off and the payment shows up on your credit account.
You'll be charged an ATM fee for cash advances.
Learn more about cash advances and ATM fees.
Overlimit fees on your credit card
You may incur a $29 overlimit fee if you spend more than your credit limit. The overlimit fee will be applied after a transaction that caused you to go over your credit limit by $15 or more is posted on your credit account.
Cardholders residing in Quebec aren’t subject to overlimit fees.
You’ll only be charged an overlimit fee once per billing cycle. If your credit account remains overlimit from the last billing cycle, you’ll be charged an overlimit on the first day of the next statement.
Avoid overlimit and interest fees
You can’t request a refund after you’ve been charged an overlimit fee. Here are some tips to help make sure you’re never charged interest or overlimit fees:
- Keep your total balance within your credit limit
- Set up Auto-Pay to never miss a payment to your credit account
- Pay in advance when you’re going to make a large transaction
- Personalize your notifications to get notified when you’re approaching your credit limit
Transactions in foreign currencies
Purchases or cash withdrawals in currencies other than Canadian Dollars will be converted and a foreign currency conversion fee will be applied.
Foreign currency conversion
When you use your credit card for a transaction in a currency other than Canadian Dollars, the foreign currency will be converted to Canadian Dollars before it's posted to your account. Mastercard provides the foreign conversion rate.
Foreign currency conversion fee
Transactions made with your credit card in a currency other than Canadian Dollars are subject to a foreign currency conversion fee of 3%.
Credit balance administration fee
If your credit account is inactive for at least 12 months, a credit balance administration fee will be applied to your credit account. The fee is the lesser of $25 or the amount of your credit balance.
Fees are subject to change. Please view the Cardholder Disclosure Statement, Rate & Fee Schedule for the details on any fees.