I’m trying to figure out why I don’t see expected cash back or reward amounts on my Neo World MasterCard with premium turned on. Is there an FAQ or an in-depth explanation anywhere?
@Clemensrettich any specific areas you want to dig into? Happy to do some validations with you.
How Neo Premium Works
Neo Premium adds bonus rewards and benefits on top of your existing credit card.
Here’s what it includes:
- +2% on Gas, +2% on Groceries, and +0.5% on everything else
- Up to $500/month spend cap per category (Gas, Grocery, All Else) for the Premium bonus
- Extra perks like credit monitoring, +1% boost at 10,000+ partner locations, insurance coverage, legal support, and priority customer service
- Your card’s base cashback is separate category rewards and caps from premium
Example: World Mastercard vs. World + Premium
Let’s say you spend:
- Groceries: $800
- Gas: $400
- All Else: $1,200
World Card (No Premium)
Base rates:
- 2% on groceries, gas, and recurring
- 0.5% on all other spending
- Category cap: $1,000 combined across groceries, gas, and recurring (but still applies at base rate)
Cashback:
- Groceries: $800 × 2% = $16
- Gas: $400 × 2% = $8
- All Else: $1,200 × 0.5% = $6
- Total cashback = $30
World + Premium
Premium adds:
- +2% on gas and groceries (up to $500 each)
- +0.5% on all else (up to $500)
- Applies on top of the base World card rewards
Cashback:
Groceries:
- Base: $800 × 2% = $16
- Premium: $500 × 2% = $10
Gas:
- Base: $400 × 2% = $8
- Premium: $400 × 2% = $8
All Else:
- Base: $1,200 × 0.5% = $6
- Premium: $500 × 0.5% = $2.50
Total cashback = $16 + $10 + $8 + $8 + $6 + $2.50 = $50.50
Summary:
| Spend Category | World Only | World + Premium |
|---|---|---|
| Groceries | $16 | $26 |
| Gas | $8 | $16 |
| All Else | $6 | $8.50 |
| Total | $30 | $50.50 |
So with this $2,400 total spend, Premium earns you an extra $20.50 — plus you still get perks like credit monitoring, insurance, legal access, and priority support.
Here are some links that might help:
- Premium details are under perks within the app or here is a page with some details: Premium | Neo Financial™
- Caps and rates by card type: https://get.neofinancial.com/rates-table/
Some other notes worth mentioning but may add confusion:
- When you max out a spend category (eg Groceries) the additional spend shifts to all else
- We have boosts which you will see on the rates table which increases the cashback on cards based on deposits. I’ve left that out of this math.
- There are conditions that apply on this stuff I left for the web pages to explain the details. I believe I captured the math correctly but if I misstepped I’ll happily update it.
Here is the in-app screenshot of Premium - Rewards are categories, Cashback relates to the 10k+ partners network.
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