Finally: No more missing out on recurring cashback! 🎉

Community Lounge
1

Hey everyone! We’ve heard the feedback loud and clear. If you’ve ever been frustrated because your utility bill or streaming subscription didn’t earn recurring cashback just because a merchant forgot to flip a backend switch, we get it, and we knew it needed to be fixed.

Starting June 1, 2026, we are completely ripping out that broken system. Moving forward, we’re using Merchant Category Codes (MCC). If it’s streaming, insurance, utilities, or telecom, it counts. No more guesswork.

To keep these premium rewards sustainable, the World Elite annual fee is adjusting to $149, and we’re adding a $4,000/month cap on the 2% Fixed plan (1% after). Existing members, you’re covered by a grace period with manual wallet top-ups so you don’t lose a dime during the transition.

We’re also excited about the new Shop and Dine perk, bringing even more value to your everyday spending.

Which recurring bill are you most excited to finally lock in cashback on? :backhand_index_pointing_down:

2

This is awesome news! Definitely utilities is going to make the biggest difference.

3

Yes! One of my biggest frustrations. Utility and cell phone bills will be so great.

4

Thanks for the update but perhaps I missed an email or disclosure notice but what exactly is this $4000/month cap on the 2%(then 1%) category?

Also what is the dine and shop category?

Can you expand on what these two items are?

Thanks!

5

This is a genuinely great update and long overdue. The MCC-based system makes so much more sense — I’ve had streaming and telecom payments that should have qualified as recurring but didn’t, and there was no way to even know why.

For me personally, the bills I’m most excited to finally lock in cashback on are internet (essential for remote work), Spotify, and my phone plan. These are monthly, non-negotiable, and add up to a meaningful amount over a year.

The transition grace period is a thoughtful touch too — it shows Neo is actually paying attention to the impact on real customers, not just optimizing for the business side.

One note on the World Elite annual fee adjustment to $149: I think if Neo clearly communicates the total value a cardholder is getting (cashback earned per year, perks, etc.), the fee feels like a no-brainer. Most people don’t do that math themselves — showing it clearly in the app would go a long way toward keeping retention high.

6

That’s awesome! Thank you for putting that in. I’m excited for recurring streaming :raising_hands:t2: I use Spotify and YouTube premium often. And I want to get Disney+ for some movies too!

7

Hello thank you for this update. The cash back for Recurring payment is 4% with a 500$ cap. The 4000 cap will be on 4% or 2%?

8

@Mrideas the 2% cashback applies to the first $4,000 of spending each month. If you happen to spend over $4,000 in a single month, any spending above that threshold will earn a still-solid 1% cashback.