Neo Financial announced this week that it is expanding its product lineup.
The Calgary fintech, which today serves more than one million customers, says that the addition of four new credit card options gives users more choices than ever when it comes to spending rewards.
Founded in 2019, Neo now offers more cards than ever, and cardholders can switch their rewards category up to four times per year.
“How you spend today is not necessarily how you’ll spend in two years,” explains Jeff Adamson, co-founder of Neo Financial.
Adamson posits that “Most of the complexity in Canadian rewards programs benefits the bank, not the customer.”
In contrast, “These new cards work the other way,” he says.
“Canadians can pick the rewards structure that fits how they spend, and have the freedom to change it every 90 days,” the entrepreneur remarked.
Moreover, “Every card is available as a secured card, so a credit history doesn’t determine rewards.”
And “As you spend and build credit, Neo will make recommendations on when you could earn more cashback,” according to Adamson, who says: “Rewards should flex to fit your life, and so should the path to getting them.”
Neo added a “Shop & Dine” card and a “World” card at both the zero-fee level and the Neo World Elite tier, which charges a $149 annual fee.
The cards include access to Neo’s partner rewards network of over 10,000 merchants, where cardholders earn an average of 5% cashback on top of base card rewards.
Neo Financial has raised more than $650 million in funding and has been recognized as Canada’s top-growing company.
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