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Neo Privacy Policy Update (August 1, 2024)

  • Updated

We're making some changes to the Neo Privacy Policy. These changes are effective as of August 1, 2024.

Summary of changes

Section Current Terms Revised Terms (Effective August 1, 2024)
1.A(i)

Applying for Financial Products and Services.

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If you apply for financial products and Services, we may collect additional information from you as follows:

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Credit Card: If you apply for a Credit Card, including, but not limiting to, the Neo Credit Card, Neo Secured Card, Tims® Mastercard powered by Neo or Hudson’s Bay Mastercard powered by Neo, or Cathay World Elite® Mastercard powered by Neo, we collect additional financial information, including income related information, living situation (i.e., move-in date, and whether you rent, own or live with family), housing costs, living expenses (e.g., utilities) (and, for residents of Quebec, we may collect name of employer, monthly credit or loan payments, and source of income) to assess your creditworthiness, and to confirm your eligibility for our credit products. With your consent, we will run a credit check to help assess your eligibility for a credit card and the credit limits. Please note that a Neo profile is not required for the Tims® Mastercard powered by Neo.

Applying for Financial Products and Services.

[...]

If you apply for financial products and Services, we may collect additional information from you as follows:

[...]

Credit Card: If you apply for a Credit Card, including, but not limiting to, the Neo Credit Card, Neo Secured Card, Neo World Elite® Mastercard, Tims® Mastercard powered by Neo or Hudson’s Bay Mastercard powered by Neo, or Cathay World Elite® Mastercard powered by Neo, we collect additional financial information, including income related information, living situation (i.e., move-in date, and whether you rent, own or live with family), housing costs, living expenses (e.g., utilities) (and, for residents of Quebec, we may collect name of employer, monthly credit or loan payments, and source of income) to assess your creditworthiness, and to confirm your eligibility for our credit products. With your consent, we will run a credit check to help assess your eligibility for a credit card and the credit limits. Please note that a Neo profile is not required for the Tims® Mastercard powered by Neo. 
1.A(iii)

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Credit Checks. When you apply for certain financial products and services offered by Neo, such as the Neo Credit Card, Tims® Mastercard powered by Neo, Hudson’s Bay Mastercard powered by Neo, Cathay World Elite® Mastercard powered by Neo, or a Neo Mortgage, we collect identity information and financial and transactional information from credit reporting agencies, such as TransUnion and/or Equifax.

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Neo Rewards/Store. When you use an eligible Neo product such as a Neo Credit Card, or Neo Prepaid Mastercard with one of our network merchants, you receive cashback for a percentage of the purchase, or make progress towards a reward. We collect the details of your purchase on third-party platforms you already use (such as Neo’s partnered merchant platforms) so that you may earn Neo Rewards for your Neo Rewards account. We may also use this information to open, maintain, service, process, analyze, market, audit, collect or fulfill products or packages related to Neo Rewards™, Neo Premium Rewards Package or the Neo Store.

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Credit Checks. When you apply for certain financial products and services offered by Neo, such as the Neo Credit Card, Neo World Elite® Mastercard, Tims® Mastercard powered by Neo, Hudson’s Bay Mastercard powered by Neo, Cathay World Elite® Mastercard powered by Neo, or a Neo Mortgage, we collect identity information and financial and transactional information from credit reporting agencies, such as TransUnion and/or Equifax.

[...]

Neo Rewards/Store. When you use an eligible Neo product such as a Neo Credit Card, Neo World Elite® Mastercard, or Neo Prepaid Mastercard with one of our network merchants, you receive cashback for a percentage of the purchase, or make progress towards a reward. We collect the details of your purchase on third-party platforms you already use (such as Neo’s partnered merchant platforms) so that you may earn Neo Rewards for your Neo Rewards account. We may also use this information to open, maintain, service, process, analyze, market, audit, collect or fulfill products or packages related to Neo Rewards™, Neo Premium Rewards Package or the Neo Store.
2.A

Service Providers

Your personal information will be transferred to, collected by, or otherwise made available to certain third parties that provide services on our behalf. We may use service providers that provide the following services:

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Service Providers

Your personal information will be transferred to, collected by, or otherwise made available to certain third parties that provide services on our behalf. We may use service providers that provide the following services:

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Cloud Service Providers: to store personal information and other data.

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