We know there’s a lot of confusion about Premium being retired — and that’s fair.
Our communications weren’t as clear as they should’ve been. There are some legal and operational reasons for that, but ultimately, it’s on us to explain things better.
Over the weekend, we worked closely with our product team to clarify the details, and here’s what we can share.
Why Premium is being retired:
We originally built Premium as a quick way to compete with elite credit cards. It was faster to launch a subscription that boosted rewards than to release entirely new cards or features.
For many people, those boosted rewards were incredible — often double what other cards offered. But over time, stacking these kinds of quick-win features made our rewards system really complex.
Your cashback currently depends on many factors:
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The card you’re using
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Whether you had Premium
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Your Everyday account balance
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The category of your purchase
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Any available cashback offer (if the purchase is at a Neo partner)
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The category cap
Some people chose to sharpen their pencils, play the game, and win. A lot chose not to try.
We want to move toward a rewards system that’s still competitive, but easier to understand. Retiring Premium is one step toward that.
What’s the transition:
First and foremost, we want to give users time to adjust. Premium continues to work normally until Jan. 1, 2026.
Second, each group of existing subscribers get alternative options with the intention of helping them maintain or improve their overall cashback.
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Neo World and Neo World Elite: Option to tailor your rewards scheme
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Neo Mastercard: Option to upgrade to World or World Elite (if eligible)
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Any secured card holder: Free Build membership for 30 days
Clearing up the different rewards schemes for World and World Elite:
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Everyday Essentials: Focuses on groceries and gas — exactly what you’re used to. Nothing changes.
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Shop & Dine: For people who spend more on restaurants and retail than on gas and groceries.
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Fixed Cashback: 1% (World) 2% (World Elite) back on everything, no caps — best for high spenders who exceed monthly limits.
Boosts from having $5k or $10k in your Everyday account continue to apply normally.
Our communications were somewhat hampered by Canada’s anti-spam laws which limited our ability to offer anything to customers who opted out of marketing emails — even if these options would’ve benefited them. If you didn’t receive any of the options above, they are probably still available to you. Comment here or drop me a DM.
What’s next:
Premium continues working as expected for the next 60 days. After that, it’s gone. In the meantime, we are here to answer questions related to the transition, help people switch their rewards schemes, apply for cards, and generally optimize their cashback.
We want to make sure our loyal customers — the ones who believed in us early — are rewarded for that loyalty.
