Neo Financial Expands Services to Assist Canadian Newcomers in Building Credit Profiles

Neo Financial Introduces Equifax Canada Reporting for Enhanced Credit Building with Neo Secured Credit Card

Neo Financial has announced an expansion in credit reporting services for its Neo Secured Credit card, now reporting to both Equifax Canada and TransUnion®. This enhancement aims to provide Canadians, especially newcomers and those aiming to bolster their credit profiles, with comprehensive credit history visibility for broader lender acceptance. The Neo Secured Credit card offers an accessible pathway to establish credit history while earning cashback on everyday purchases¹.

“We’re thrilled to offer Canadians an easy way to earn cashback and build credit history,” said Andrew Chau, CEO and Co-Founder at Neo Financial. “The addition of Equifax Canada reporting is crucial for newcomers and existing residents alike, who often face challenges in establishing credit upon arriving in Canada. At Neo, we’re dedicated to improving the financial well-being of Canadians and alleviating financial stress wherever possible.”

According to Statistics Canada’s 2023 report analyzing Survey of Financial Security (SFS) data, immigrant families, regardless of tenure in Canada, face higher rates of credit invisibility compared to Canadian-born families. Neo Financial addresses these challenges by empowering Canadian residents with tools to manage their financial futures effectively.

In addition to supporting credit establishment, Neo Financial provides a seamless transition to the standard Neo Credit card and access to Neo High-Interest Savings, Neo Money™ card, Neo Mortgage options, and more, catering to diverse financial needs.

The Equifax Canada reporting feature is applicable across all Neo Credit card products, including the Neo Secured Credit card, Neo Standard Credit card, Hudson’s Bay Mastercard—powered by Neo, Tims® Credit Card—powered by Neo, and Cathay World Elite® Mastercard® – powered by Neo.

For further details about the Neo Secured Credit Card, visit

About Neo Financial

Founded in 2019 by the co-founders of SkipTheDishes, Neo Financial is dedicated to redefining financial experiences through innovative spending, saving, investing, and mortgage solutions. Headquartered in Calgary and Winnipeg, Neo has secured over $299 million in funding and has been recognized as Canada’s top tech startup by LinkedIn. Neo collaborates with leading financial institutions to offer secure avenues for spending, saving, investing, and mortgage solutions to its members and partners nationwide. For more information, visit


¹ Awarded as the best credit cards by Savvy New Canadians on December 5, 2023.

² Building credit score is subject to making payments in full and on time each month.

Neo Credit and Neo Secured Credit cards are issued by ATB Financial under license from Mastercard International Incorporated.

The Neo Money™ card is a prepaid Mastercard® issued by Equitable Bank under license from Mastercard International Incorporated. The Neo Money™ card is powered by the Neo Money™ account, provided by Concentra Bank.

The Neo High-Interest Savings account is provided by Peoples Bank of Canada.

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