We all have our reasons for picking the financial tools we use, and these choices really shape our financial lives. Iām really curiousāwhat made you choose Neo Financial? What stood out to you about Neo compared to others?
For me, it was all about how Neo rethinks banking and rewards. The cashback rewards system was a game-changer. Itās not just about saving; itās about earning rewards on the things I buy anyway, like gas and groceries! Itās made managing my money simpler and more rewarding.
What about you? What drew you to Neo? Was it the easy-to-use interface, the great rates, the rewards, or something else?
Drop your stories below and letās chat about what makes Neo the right choice for each of us!
Iām an immigrant, having arrived recently in Canada, but with a somewhat stable and solid financial health (avg per month expenditure in credit cards in my home country was around $6k, I pay everything I can on credit card and pay 100% of the bill every month).
I opened a bank account in one of the Big Six and had beg for a $1k/month limit and wonāt give me a credit raise no matter what. Neo gave me a $3.8k/month without even having to ask. So, I would recommend Neo for anyone in the same situation moving forward.
Hey @farchangelo! Thanks for sharing your story! Itās great to hear that Neo Financial was able to meet your needs as a newcomer to Canada, especially by offering a credit limit that reflects your financial health.
We really appreciate your recommendation!! Welcome to the Neo community!
I had a similar situation like @farchangelo mentioned. I was an international student, new to Canada in 2019, with no credit file history. I applied back in 2020 and got my first no secure-deposit required credit card with Neo! Thanks to Neo on trusting me (and keep increasing the limit till now haha).
Hey @futandrew Thatās an awesome story, thanks for sharing! Itās incredible to see how Neo has helped you establish and grow your credit history in Canada. Itās these kinds of success stories that make our community so special. Keep those stories coming, everyone!
I chose Neo, as it was referred to me by my credit counseling provider. I just recently went through a Consumer proposal to get my finances back under control and this was one of the ways they suggested helping rebuild my credit. I was able to get a Prepaid Neo Mastercard that I can control the amount that I can spend on there by selecting my own credit limit. I got the Neo debit card that I am accruing cash back every time I use it.
I absolutely love how user friendly the app is, youāre able to control everything with ease right from there. Iāve recommended this to a few people, as Iāve been impressed so far.
Thank you for what you do to help folks like myself, who may have gotten a little financially lost helping others. But Iāve learned my lesson and Iāve learned how to say NO lol so thatās a win
Thanks again and I hope everyone on your team continue to do the work for the little guy that the big banks donāt give a rats a$$ about.
Hey @Kajay77 Thank you so much for sharing your story! Itās inspiring to hear how Neo has become a part of your journey toward rebuilding your credit and taking control of your finances. Itās stories like yours that remind us why we do what we do.
Itās awesome that youāve even recommended Neo to others - we appreciate that support and will keep working hard to meet the needs of folks like you.
Thanks again for being part of our community and for your kind words.
Mostly the Neo card. Moving funds into the chequing account just to pay the credit card balance.
My wife and I concentrate all our expenses onto credit cards so that we have more control.
Hi. I actually heard about Neo from a relative and was not particularly interested as I already have another world elite CC. But I thought I would get the card just to see what all the ācash backā fuss was all about. I was intrigued to see if the cash back incentive would influence my choices in which CC to use and where I would spend my money. And surprisingly it did! I am totally into researching reward partners and deciding on which CC to use in order to maximize my āpointsā and ācash backā. The addition of the HI savings accounts were fantastic and now I have moved funds to Neo for better savings returns. I love the Neo app and the ease of use. I particularly like the notifications of charges. I did have (what I thought) was a suspicious charge once. And the support team had me up and running with a new virtual card within the hour. That is a game changer in my mind. Anyways I am now a total fan of everything NEO!
@PGA Hi Patty! Thanks for sharing that! I love how you werenāt totally sold at first but gave it a try and now youāre all in. Itās awesome to hear the cashback actually influenced your spending decisions! And how cool is it that the support team got you a new virtual card so quickly? Iām so happy to hear that you had such a great experience with not only the products but with the team as well.
Have you found any favorite reward partners since diving into the cashback scene?
Legacy, user-hostile banking systems in Canada consisted of complex features and required visiting a branch for minor tasks that could have been easily resolved with a proper mobile app function.
As someone who grew up in Canada and was familiar with the Big 5 here, I knew that there were banks far better in what they want to achieve and offer.
Most people stick with the Big 5 because of familiarity and/ or convenience. More often than not itās because their parents were already with a certain bank.
In this day and age, especially with social media, I knew there was more than 0.00001% and so on āhigh interest savings accountsā.
Neo gave me an $8,000 credit limit right off the bat, and my credit score was around 700ās at the time with $1000 pre-approved increases year after year, assuming I kept or improved my credit score.
As someone pointed out, I practically had to beg Big 5 to get anywhere close to $1000.
TL;DR: Neo did what Canadian Big 5 should be doing: competitive rates and features
For me it was for the rewards and cash back offers. I was trying to find a way to make my money work for me better.
Suggestion- Iād really like to see the addition of joint credit cards. My husband and I use a credit card for all of our regular expenses and Iād love to be able to use Neo for this.
I was a teammate of one of the founders though high school and college wrestling so learned about it from him on LinkedIn. I was just revamping how I managed money and lived out was zero free and high interest. Gave it go and just love it, everything is so seamless except for not needing able to download transactions as CSV or XLS. Thatās a problem! I run a combination of profit first and harv ekerās 6 jar system and the ability to have so many savings goals, TFSA and RRSP all together is amazing for it. Iāve created great habits in saving, investing and paying my credit card in full each month.
Itās made managing my money simpler and more rewarding.
Itās inspiring to hear how Neo has become a part of your journey toward rebuilding your credit and taking control of your finances. Itās stories like yours that remind us why we do what we do.
