I went looking for the option to turn on multi-factor authentication for my Neo account only to find out that there's simply no option to turn it on. Is this just an oversight or is it something in the pipeline?
Just got notified with the following:
"We've applied a temporary restriction to help protect your credit score. To restore your limit, follow the steps in an email"
The steps tell me to make a larger payment or to provide my banking information so I can have my bank statements/transactions looked at. Both which I did (as I never make just the minimum payment anyway each month).
I haven't used this credit card much lately but just found this very random. Possible explanations are:
Obviously those arent the explanations I received.
This has not happened with my other credit cards and fortunately I don't rely on the credit cards to live... still annoying because Costco only accepts Mastercard, not Visa. Neo's World Mastercard is the card I happen to use there, and I like to make the odd big purchase there.
Has this happened to anyone else and if so, what was the reasoning?
TL;DR: New credit card applications under existing credit card options made me apply thinking it was an upgrade. They did a hard inquiry into my credit score that took 3 years to build.
I've had New Mastercard for over two years now. Once in a while I would request an upgrade or credit limit raise. It usually is located under my existing credit card options.
A few days ago I checked again. I logged into my Neo account > tapped on my Mastercard > tapped on the card again > Explore card options. There is a list of several credit cards which I thought is an upgrade for the existing one. Why would they put new credit card application under existing card options????
I was tires and didn't pay much attention hit on the one that looked like mine. It did its thing and told me I am approved.
But instead for an upgrade they issues me a new credit card which is EXACTLY the same I already had. They also did hard inquiry into my credit score per TransUnion.
I called Neo, but as you all know they don't want to talk on the phone. The chat reps told me they can't withdraw the hard inquire. It took me 3 years to build a nice credit score. Now there is an extra hard inquire that I don't even get anything for.
I initiated a hard inquiry dispute with TransUnion, but as far as I understand, they can only remove it if it wasn't authorized.
I am very sad about this whole thing. I was a good Neo customer and used their cc every day.
I understand that it partially my mistake for not paying attention, but I would never apply if I hadn't thought it was an upgrade. They should have not put new credit card applications under existing ones to trick customer to apply.
Any thoughts? Thanks for reading.
Really liked their services up until this point today but this has got to change.
Your card can just get blocked apparently if you enter your info incorrect 3 times with no way to unblock it for 24 hrs. Even if it's not your card info. Website would not accept my address online; card info was correct.
Not only does it block your card without letting you know but it apparently refreshes the block for each transaction a person tries to make after the block. Just genius design there.
Why are you not sent any notification regarding this? You're just supposed to find out when you have an arm full of groceries at the checkout? I'm sent both an email and an app notification for every single purchase I make (and even when a transaction is declined) but Neo can't be bothered to send one when my card is blocked outside of my control? Also no information whatsoever when you are able to use your card again. Just go and hope for the best I guess.
I can freeze my own damn card if I need to. I don't need Neo to do it when virtually no security has been breached.
Customer service is just useless as well for this, they just tell you there is nothing they can do as it is a "security issue" although online chat was fairly quick, seemingly apathetic, but quick nonetheless.
There should be a notification sent stating the block at the very least, with info on when your card will be available for use again.
The Neo Secured Credit card was my credit card when I was 19 (currently 22M) and only have $1000 limit on it. I really only use it for Costco groceries with the 1% cash back but honestly I don’t use it for anything else. The 1000 limit just isn’t enough for me to want it but at the same time my other card is the Amex cobalt. Is it possible to get a change of product (Neo world MC), and get my security deposit back?
Hey all. I just paid the $125 or whatever annual fee in April on my world elite card, but if I change to one of the alternate cash back options for it will I be charged the full $145 now or only the $20 in difference from my last annual fee just a couple months ago?
Thanks
I banked with Scotiabank for about 8 years before switching over to NEO Financial. During my entire time with Scotia, I only ever had to go through a charge dispute once or twice, but when I did, they handled everything smoothly and promptly.
Recently, I had an issue come up during a trip and submitted a dispute through NEO. Instead of moving on it, they told me I have to wait 20 business days just for an internal review before they even consider submitting it to the card network (Visa/Mastercard). Has anyone else dealt with chargebacks or transaction disputes through NEO? Is this standard for fintech apps in Canada, or is NEO just exceptionally slow with back-office resolutions?
Neo is supposed to be different from the banks, but they still charge 2.5% for international purchases?
All I’ll say is that wealthsimple doesnt have an FX fee…
(Even US 0% FX fee would be nice or a lowering to whatever Neo can do ex: down to 0.5%)
Who's with me?!
I want to increase my credit limit on my Neo Credit Card in order to help build my credit a keep my utilization low. When I go to the “request a credit limit increase” in the menu, I see it says that my credit score won’t be impacted by requesting a credit limit increase. I wanted to confirm if this is true or not since this would obviously benefit me as I don’t want a soft or hard check to impact my score by getting a higher limit. TIA!