Neo Mastercard® vs Amex Green: Which one is better?

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Neo Mastercard® vs American Express® Green Card: Which one is better?

Neo Mastercard®

2.7

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RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

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American Express® Green Card

3.9

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RECOMMENDED CREDIT SCORE*

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Get your free credit score

Finly Rebate

$60 Cash Rebate from FinlyWealth

Finly Rebate

N/A

Rewards Breakdown

Annual Rewards

$181.33

First Year Bonus Value

Annual Fee

First Year Value

$181.33

Based on $2,000/mo average spending. Calculate your rewards.

Rewards Breakdown

Annual Rewards

$467.86

American Express Membership Rewards

First Year Bonus Value

$210

American Express Membership Rewards

Annual Fee

First Year Value

$677.86

$467.86 in years after

Based on $2,000/mo average spending. Calculate your rewards.

Insurance Included

Balance Protection

optional add on

Insurance Included*

Extended Warranty

Up to a year

Purchase Protection

90 days

Extra Benefits

Neo Premium ($4.99/month)

Neo Travel Benefits ($4.99/month)

Neo Food Cashback boost ($1.99/month)

Neo Mind and Body Perks ($9.99/month)

Extra Benefits*

Extra points

2 points on Amex Travel Online purchases

Amex Experiences™

With Amex Experiences™ and Front Of The Line® Amex Presale Tickets, American Express Cardmembers get access to amazing events in Canada

Interest Rates

Purchase:

19.99% - 29.99%

Cash Advance:

22.99% - 31.99%

Interest Rates*

Purchase:

21.99%²

Cash Advance:

21.99%²

Annual Fee

Annual Fee*

Income Required

Min Personal Income:

N/A

Min Household Income:

N/A

Income Required*

Min Personal Income:

N/A

Min Household Income:

N/A

Welcome Bonus

N/A

Welcome Bonus*

Earn a Welcome Bonus of 10,000 points when you charge $1,000 in purchases to your Card in the first 3 months.

Rewards Rate

1% cash back on grocery purchases up to $500 spending per month (3% cash back with $5k in a Neo everyday account, and 4% cash back with $10k in a Neo everyday account) - drops to the 0.5-1% cash back tier after hitting spend cap
1% cash back on gas purchases up to $500 spending per month (3% cash back with $5k in a Neo everyday account, and 4% cash back with $10k in a Neo everyday account) - drops to the 0.5-1% cash back tier after hitting spend cap
0% cash back on all other purchases with $0 in a Neo everyday account, or 0.5% cash back with $5k in a Neo everyday account up to $1,667 spending per month, or 1% cash back with $10k in a Neo everyday account up to $1,667 spending per month - drops to 0% cash back again after hitting spend cap
+5% earned on average at Neo Partners.

Note: our reward calculations use the base cash back rates assuming you do not hold any money in a Neo everyday account to earn the higher tier (boosted) cash back rates, otherwise the reward estimates may be higher.

Rewards Rate*

1x point per $1 spent on all purchases

Loyalty Program

N/A

Loyalty Program*

American Express Membership Rewards

Point Redemption Options

Not Applicable

Point Redemption Options*

Most Optimal

Transfer to Airline Partners

2.1¢ / point

Fixed Point Travel Program

1.66¢ / point

Transfer to Hotel Partners

1.66¢ / point

Statement Credits (Cash)

1¢ / point

Gift Cards

0.765¢ / point

Amazon.ca

0.7¢ / point

Merchandise

0.63¢ / point

Is this card worth it?

The Neo Credit Card is special because it earns rewards based on whether the merchant is a partner or not. Most of the time, the cashback earned at these partners is the highest possible compared to all other credit cards. However, we don't recommend using this card as your main credit card and suggest using it only at partner merchants. This is because the rewards at non-partner merchants are very small, and most merchants are not partnered with Neo.

Is this card worth it?

The American Express® Green Card is a great option for those looking for a no-frills card that earns rewards on all purchases without any annual fee or minimum income requirement. It's an accessible card with no cap on rewards, making it ideal for those who want to earn points without the higher costs and complexities of premium cards. However, it does come with lower rewards earnings across most categories and a modest welcome bonus.

Pros

High cash back on grocery and gas if you're willing to hold at least $5k in a Neo everyday account
Unique cashback program which earns cashback based on partner instead of purchase category.
Massive cashback at some partners that any other credit card couldn't beat.
Unique benefit system where perks could be bought with a monthly fee and cancelled after use.

Pros

No Spending Limits: Earn unlimited rewards with no caps.
Flexible Redemption: Transfer points to other loyalty programs for maximum value.
VIP Perks: Access a variety of exclusive benefits through Amex Experiences™.
Eco-Friendly: The card is made from 99% recycled plastic.

Cons

Base Cash back is very low when you do not hold any money in a Neo everyday account
No built-in purchase protection and extended warranty benefit.

Cons

Lower Reward Rates: Earn rates are lower compared to other no-fee cards.
Limited Travel Perks: Lacks some of the travel benefits and insurance options provided by other cards.