Neo Financial MC now 2% CB was 5% (for $330 in 6mo)

[ottawa]

I don't recall getting a message about this, I did get the one about PM Rewards getting cut back.

2% is still slightly better than my default MC at 1.5% (I have a TDCT Visa that pays 3% on recurring payments, but PM has never processed that way). It's a lot of extra work to pay on Neo (and we each have one, so I have to switch every 5-6mo). For $1.65 (0.5% on $330) every 6mo, maybe I should just switch to the 1.5% card when the next $330 is hit. I put in a lot of effort for minimal return, but this may be too much. Or I could leave the charges on 1 card, let the other one eventually die due to inactivity, and not switch back and forth.

It was good while it lasted.

=aw

[ottawa]

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from what I read, it was only as of June/July 2025 that subscribers started to see their cards actually give them Cashback on the PM autopay. (Neo may have been the anomaly as they partnered with PM) Perhaps with a little research you can find a card with a better recurring CB%, but the good news is, if you were getting 5% back at any point…. That’s 5% more than everyone using other cards.

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To clarify, I've always received some sort of cashback on PM autopay from any card I tried. The problem was that cards which gave EXTRA cashback for recurring payments only gave the default. Specifically TDCT CBI Visa (3% autopay, 1% default) gave 1% on PM autopay. First tried many years ago. I remember trying some other bank's card but don't remember what it was. We were getting 5% on neo from the start (well, 100% on that first payment of $100 🙂 ), though it was much harder to hit $330 in 6mo when we were on $25/1GB plans (even 2 of those wouldn't make it in 6mo without some finagling to accommodate the $16.50 cashback from neo and the formerly generous PM Rewards program). 

I'm curious if anyone has found another cashback card that pays more than neo's 2% on PM autopay. Clearly the TDCT CBI Visa doesn't, and the best default I know is 1.5% from Rogersbank.

=aw

[ottawa]

Following up on earlier thread, I tried moving 1 of our PM accounts from neo MC (now 2% when you hit $330 on PM) to TDCT Cash Back Infinite Visa (1% by default, 3% on recurring), which traditionally didn't recognize PM as a recurring payment. First automatic PM payment just went through on TDCT CBI Visa and it earned 1%. 😞

So back to neo it is.

[ottawa]

@ORNGNBLK Thanks for that idea, has anyone put PM on a TDCT Cash Back Infinite Visa? Pays 3% for gas groceries and recurring payments, but only ever paid 1% for PM in the past.

The 5% I got from Neo 5% was 3.5% more than the alternative (1.5% from Rogers MC) and I would hope most people were getting 1%. So yes it was still better while it lasted, and 2% is still better than 1.5%.

In the past (when it was 5%) I've tried to switch between our 2 cards at exactly $330 (usually by making a manual payment to PM to hit $330, then swap cards). I will either leave it on the existing Neo card for 2% (and not worry that they'll cancel the other cards for inactivity), or witch to Rogers and get 1.5%, but not even have to remember to pay Neo at all.

I'm particularly disappointed that they didn't tell me of the change, I assume it happened in line with PM dropping _their_ CB to 2%.

[ORNGNBLK]

@ottawa   It was mentioned a short while ago that only recently PM autopay became a recognized “recurring bill payment” on some subscribers CC statements and ultimately garnered them “cashback”. Percentages fluctuated based on individual cards, but from what I read, it was only as of June/July 2025 that subscribers started to see their cards actually give them Cashback on the PM autopay. (Neo may have been the anomaly as they partnered with PM) Perhaps with a little research you can find a card with a better recurring CB%, but the good news is, if you were getting 5% back at any point…. That’s 5% more than everyone using other cards.