I have a Neo account from when you opened. Members who signed up from the begging should be grandfathered in with their pricing and not charged the new outrageous pricing for the cash back subscription.
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Hey @BandGeek12 Firstly just want to say thank you so much for being with us since the beginning, it means a lot to us. I completely understand your concern about the pricing changes, I’ll definitely pass this on to the team. Out of curiosity, are there any features or benefits you’d like to see added to make the premium subscription feel more worthwhile?
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Thank You! I think seeing cash back on automatic withdrawals and being able to have access to depositing a cheque in the mobile app.
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the same should be applied to secured credit cards which now have a $5 monthly fee. That’s a pain in an ass to close the account, but they left no other choices
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And, they are reporting as an account to the credit bureaus, I got the secured card to build credit! Closing this account would have a negative impact on my score, I feel very frustrated by the new fees.
Before when they didn’t report to credit bureaus it wasn’t building credit.
Closing a secured account once you have decent credit and get approved for a non secured account is definitely the move. Yes it shortens your credit history but barely and secured cards suck.
Hope this helps as I know building credit is boring and slow
Understood. And I am happy with the Neo Secured offering overall after the change was made to start reporting, just upset about the fees. I would prefer an annual payment option to be real lol.
Could you provide any insight to how long consistent payments on a secured card should take before being able to apply for a basic card offering? I appreciate the response and am still confused on this point.
@Denisa.Neo
A feature I’d suggest Neo implement is a pathway for secured to non-secured card so we don’t loose the account and associated payment history.
hey @ROnTime Secured grad is mostly done through our credit risk teams. Credit risk determines eligible users and its highly based on each individual case, I wish I could say there was a clear timeline that applicable for everyone who has a secured card but its not as simple as that. Each user’s credit file is so different, this is why its not an automatic process.
Okay, so this is part of your product offering currently available though?!
Understood, that makes sense. Maybe you could suggest adding communication on your website for this process as I was unaware as a secured card holder that there was even a graduation process offered by Neo.
Thanks for the information!