Neo Secured Credit Card: Rebuild Your Credit with Confidence

A secured credit card works a bit differently than a regular unsecured card. With a secured card, you make an upfront security deposit that usually becomes your credit limit. This deposit helps mitigate the risk for the card issuer since they already have your funds to draw from if you fail to make payments.

Neo Secured Credit Card: Rebuild Your Credit with Confidence

Are you struggling with bad credit? A secured credit card like the Neo secured card may be the solution to start rebuilding your score. In this comprehensive guide, we’ll explain everything you need to know about secured cards and the Neo secured card specifically.

The main benefits of secured credit cards are:

  • Get approved with bad credit or no credit history
  • Ability to rebuild your credit score over time
  • Graduate to an unsecured card down the road

Secured cards can be an excellent tool if used properly. The key is to make your payments on time each month and keep your utilization low.

Introducing the Neo Secured Credit Card

The Neo secured Mastercard is issued by Continental Finance, the same company behind other cards like the Reflex card. It’s targeted specifically at those looking to build or rebuild their credit.

Here are some of the Neo secured card’s key features:

  • Credit limits ranging from $200 to $5,000
  • No annual fee
  • Opportunity to graduate to unsecured card
  • Online account access and monthly statements

Next, let’s look at some of the pros and cons of choosing the Neo secured card.


  • No annual fee is a great plus
  • Credit limits up to $5,000 mean you can keep utilization low
  • 15.24% APR on purchases is lower than many competitors
  • Chance to graduate to unsecured card in as little as 7 months


  • $200 minimum security deposit
  • High 24.99% penalty APR kicks in if late on payment
  • Need to submit banking information for refund of deposit later

The Neo card does have some drawbacks to consider, but overall it remains highly competitive in the secured credit card space.

How Secured Cards Help Rebuild Your Credit

Using any credit card responsibly can help improve your scores over time. Here’s an overview of some of the benefits of secured cards in particular:

1.Make On-Time Monthly Payments

Payment history makes up 35% of your FICO score. When you pay your Neo secured card balance on time each month, you demonstrate responsible behavior which your scores should reflect.

 2.Keep Credit Utilization Low

The second biggest scoring factor is the amount owed or your credit utilization. Try to keep your balance well below your credit limit each month on all cards to avoid having too high of utilization.

  1. Increase Credit Age

The longer your accounts remain open, the more it helps build this important factor. Keep your Neo account open even after graduating to continue increasing your average age of accounts.

  1. Mix of Accounts

Having different types of credit is also something weighed by scoring models. A secured card contributes to this mix alongside other loan types you may have.

If you follow all the responsible credit building steps, your Neo secured card can help form the foundation to good credit.

Applying for the Neo Secured Credit Card

Here are the steps to apply for the Neo secured credit card:

  1. Go to the Neo secured card website at
  2. Click on the orange “Apply Now” button to start the online application.
  3. Provide some basic personal information when prompted such as:
    • Your full name
    • Address
    • Date of birth
    • Last 4 digits of your Social Security number
  4. Select the refundable security deposit amount you want to put down for your credit limit. Neo offers deposit options ranging from $200 up to $5,000.
  5. Enter your banking information if you want to fund your deposit directly via bank account transfer. Or you can mail in a cash deposit later.
  6. Carefully review the Terms and Conditions, Privacy Policy, and other disclosures. Click to check the box indicating you have read and agree to all the terms.
  7. Double check all your application details entered are correct. Then click the Submit button to complete your Neo secured card application.

That’s it! The application can be completed in around 5-10 minutes online. Neo typically provides very fast application decisions. You can expect to hear back about your approval status within minutes in most cases. Then your new secured card will arrive within 7-10 business days.

How to Activate Your Card After Your Receive It?

Activating your new Neo secured credit card and making payments is easy. Here are the steps:

How to Activate Your Card:

  1. Wait for your physical Neo secured card to arrive in the mail after approval. It should arrive within 7-10 business days.
  2. Locate the sticker on the front of your card with the activation instructions. This will include a toll-free number to call.
  3. Call the activation number and follow the automated prompts to activate your card. You will need to enter your new card number and security code.
  4. Set up your online account access during activation as well. This allows you to view statements, make payments, set alerts and more.

Once activation is complete, sign the back of your card and you can begin using for purchases right away.

How to Make Payments:

  1. You can pay your Neo credit card bill through multiple methods like online, mail, phone, auto-pay, mobile app, etc.
  2. To pay online, access your Neo account and click on “Make Payment”. Follow the instructions to make a one-time or recurring monthly payment.
  3. You can mail a physical check or money order payable to Neo with your account number to their payment center address printed on your monthly statement. Send by the payment due date.
  4. To pay by phone, call the Neo customer service number on your statement. Follow prompts to enter your card details and complete payment via automated system or live agent.

I recommend setting up autopay from your bank account to have the full statement balance paid automatically each month. This way you never miss a payment due date.

Using Your Neo Secured Card Responsibly

Once approved, make sure to take advantage of your new Neo secured card properly so it can actively help rebuild your credit. Here are some key tips for using your card responsibly:

Activate Promptly

Be sure to activate your card as soon as it arrives in the mail from Neo. This will allow you to enable things like internet account access and mobile wallet usage of your new card.

Use Monthly & Pay Quickly

You should plan on using your Neo card at least a little each month on regular purchases you can afford. The key is paying off those purchases quickly before the due date. Set payment reminders if it helps avoid ever becoming late.

Check Statements & Reports

Log in frequently both to your Neo account online and to any free credit report monitoring tools. Being vigilant allows you to quickly notice and dispute any fraudulent activity or reporting errors.

Consider Graduate Options

Depending on your progress over the first 7 months, you may qualify for one of Neo’s graduate programs to upgrade to an unsecured card. This allows you to get your security deposit money back for paying no annual fee.

Sticking to all the responsible use tips above allows your Neo secured card to work effectively at rebuilding your credit back up over time.


While frustrating to deal with at first, the secured credit card route will pay dividends in the long run when it comes to your scores. Be patient, stay diligent with all our responsible use tips and monitor your credit trajectory frequently along the way.

Before long, you’ll graduate from the restrictions of bad credit to enjoying all the perks that come with excellent credit! Applying for the Neo or another reputable secured card marks the important first milestone on your journey.

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