Frustration: Recurring payments incorrectly classified

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1

I have recently switched to Neo Financial and subscribed for extra rewards to receive 9% on groceries and 5.5% on recurring payments.

Half of my recurring payments are misclassified, for example I have several apple devices that have recurring Apple Care payments they are classified as “Apple Streaming Online” and therefore receive 1.5% instead.

Same goes for groceries, Walmart offers groceries and that’s where I do my grocery shopping and instead of 9% I receive 1.5%. This diminishes the purpose of cashback for Neo cards.

This is a pretty big bummer. When I tried to contact them asking for proper classification I got a basic response of “It is what it is” and “We rely on Mastercard classification”.

So be aware, on paper rewards are great - in reality they are not.

But for gas this is nice.

2

I should add, this is more than recurring payments. This is a payment classification issue for several categories.

3

Hi @ezhik. Welcome to the community and thanks for reaching out. Just wanted to help clarify a few things:

Neo uses information from Mastercard to determine if a transaction is a recurring payment. Only purchases that are categorized as a “recurring payment” are eligible for recurring cashback.

Sometimes, merchants categorize what we may consider to be a recurring payment as something different than recurring. If a payment isn’t categorized as “recurring” by the merchant (even if the payment automatically repeats), then it won’t qualify for that cashback category.

Regarding Walmart: In December, we refined our cashback categories for Gas and Grocery purchases to better align with Mastercard’s Merchant Category Code (MCC) classifications. MCCs are four-digit codes used to categorize businesses based on the types of goods or services they offer.

As a result, some Walmart locations may be classified as “Grocery”, while others may be categorized as “Wholesale”. Only transactions at locations classified as “Grocery” are eligible for grocery cashback.

Since these classifications are determined by the merchant, we’re unable to confirm how individual Walmart stores are categorized.

That said, Neo has over 10,000 partner stores where you can earn additional cashback on top of your base rewards.

:mobile_phone: Check the app here to find cashback offers near you.

We’d love to connect and help look into this further for you! Sending you a DM now.

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4

Thank you Alex. I see your DM, let’s hash this out.

Appreciate prompt follow-up.

5

Hey @ezhik! Just in case you missed it, here are a few quick steps to help you find and view the private message I sent you:

  1. Click on your profile picture at the top right of your screen.
  2. Click on the envelope icon.
  3. You should then be able to click and view the private message I sent you.

Please let me know if this helps - looking forward to hearing from you via DM!

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6

Spoke to @Alex-Neo , who helped clarify this. It is indeed properly generating the appropriate rewards with the latest payments now.

@Alex-Neo , thank you - you are top notch mate.

This can now be closed as resolved. Good stuff Neo!

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