Secured Neo Mastercard

A secured credit card with only $50 minimum deposit, 1% cash back on gas and groceries, plus up to 15% at Neo partner merchants.

Last checked on September 1, 2026. We may earn a commission when you click through.

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✓ Only $50 minimum security deposit ✓ 1% cash back on gas and groceries ✓ Up to 15% cash back at Neo partner merchants
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Secured Neo Mastercard

Mastercard

Our Verdict Recommended

The Secured Neo Mastercard stands out for its extremely low $50 minimum deposit — one of the lowest in Canada. It also earns 1% cash back on gas and groceries, which is unusual for a secured card. The monthly fee of $7.99 adds up to about $96/year, but the cash back and credit-building tools partially offset it.

What it really costs

Annual fee CA$96
APR Range 19.99% – 29.99%
Rewards1% cash back on gas and groceries 1%

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Who it's for

Canadians looking for the lowest barrier to entry for a secured card that also earns rewards.

The good and the not so good

  • Only $50 minimum security deposit
  • 1% cash back on gas and groceries
  • Up to 15% cash back at Neo partner merchants
  • Guaranteed approval with no credit check
  • $7.99 monthly fee ($96/year)
  • Purchase interest rate can be up to 29.99%
  • Cash back at partner merchants varies

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