Hi. I’ve been waiting to hear back about a chargeback request for a duplicate, unauthorized charge. I haven’t heard anything from neo other than they are “working on it” - and every message I’ve sent since has not been answered.
Do we just ignore customers instead of providing at least a timeline update? What is going on and why does phone support direct me to chat, where nobody answers (over one week)?
Thanks.
Stefani tested both cards by using them for everyday spending and comparing the rewards.
Neo earned more cash back in her test, but only because her spending lined up with Neo’s targeted cash back categories.
She earned $2.55 with Neo versus a projected $1.85 with EQ Bank, even though she actually spent more money with EQ. Neo pulled ahead because she used it more for groceries and gas, where Neo offers 1% cash back.
But EQ Bank is simpler. It gives 0.5% cash back on everything. There’s less guessing about categories, partner merchants, or how a store will be coded. That makes EQ better for general spending.
Neo is stronger if you regularly spend on groceries and gas, but the merchant coding isn't exactly intuitive. A butcher, dollar store, small market, or convenience store may sell groceries, but still not count as a grocery store for cash back.
Stefani says the best strategy for her was to use Neo for groceries and gas, then use EQ Bank for everything else.
Both are prepaid cards, so you’re spending your own money instead of borrowing. Stefani also noted that both accounts had a delay before transferred money became available, so neither is ideal if you need instant access to newly moved funds.
For Stefani, Neo wins for targeted spending categories. EQ wins for simplicity.
Using both might be the best move if you want to maximize cash back without using a credit card.
I received emails from Neo on 24th April 2026 stating that the card added to google pay. I opened that email after I got scammed with fraudentail charges. Meanwhile I added those 8 transactions for dispute and they rejected the disputed telling the transaction was made through google pay. I went through re verification process and checked the authorized device which was only apple device. I escalated the disputed to higher authority they reviewed the case and said I authorized the google pay set up. After fighting more they said something good will check, which was again rejected by them. I reported the complaint to police, anti fraud center, cyber crime. I even reached out to OBSI. I don’t know what should I do now. I am worried that Neo financial credit card is compromised cards. This is the second time I am facing this issue.
Please provide me some suggestions regarding it. I am frustrated with Neo financial credit card. I have alerted my friends who hold Neo financial credit card and we are all thinking to get rid of the Neo financial account.
Has your card started reporting to Credit bureaus yet? I can see mine is already reporting to transunion but not on Equifax yet.
Every few purchases I make, my cashback gets split like this even though the category of the MCC itself was only eligible for 1%. You’ll notice it’s not 1% on gas or whatever as a reduction, it’s already identified that it’s from “everything else” but split it anyway, and the i button even says “you’ve maxed out this category”…. What category is that?
What MCC’s are being tracked in the back end separately even though they are part of the 1% category permanently, and why? Were some MCCs initially setup for rewards but an internal change made and this is the easiest way to display it “as normal” to the user? As i said it doesn’t do this for every purchase, but it does for some.
Specifically, this is for the “everything else” category with the world elite card where every purchase gets cash back even once the other categories are maxed out. If it were grocery and maxed, it would show the split with grocery. There are times though that it will also show only one line of everything else, but have the I explaining that everything else has been reduced to 1% for this purchase (like a gas purchase when gas is already at max so it reduces but there is no split, for example). lol, i think it did that for a vape shop purchase.
FWIW, the above MCC is for hotels. Hotel rewards coming soon to world elite???
5% cashback promised, but if you go and look closely, it only selected restaurant. Unfortunately, it does not support most of the big ones like Chick-fil-A, Harvey’s, etc.. Not sure why nobody chase them and ask them to stop this practises. Financial regulators should not allow this to happen.
If it wasn’t that my credit score wasn’t hit I wouldn’t be with this bank at all, once I get my bonus miles I am never taking this card out of my wallet. Wealthsimple is way better.
Problems-
Been over 3 weeks can’t add my card to Apple wallet and Coustmer service says straight up we have done everything we can’t do anything else
Can’t tap this card
Can’t use western union on this card ( it is blocked intentionally from Neo)
Bonus miles no where to be found
Can’t pay off your credit card from your chequing account in real time like most banks
I don’t know how they have survived this long but they for sure aren’t growing as their competitors now I know the reason why. Does anyone feel the same way that Neo should be closed as a bank
Lisa here. Editor of Neo's newsletter The Get.
If this weekend isn't a long weekend for you, then you might like this week's issue of The Get. We cover tax situations for those with side hustles, multiple jobs and even gigs that pay cash.
And even if that's not you, then our top story will still interest you. In this economy, we're all being challenged.
Email me anytime with feedback, story ideas, pitches, a note to say hello. Subscribe to The Get.
This week's issue:
Title says it all. I got my Neo secured credit card a few weeks ago and tried 4 different vendors none of which would accept it. All purchases were under $50. Inserting the card and entering pin works but that is a PITA. All app features related to it are enabled in the app as far as I can see (Manage card -> Spend controls -> Tap, Chip, and Swipe transactions) everything in there has a green radio button.